UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2013
OR
[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

[X] QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2013

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 000-53697

CORONUS SOLAR INC. (Exact name of registrant as specified in its charter)

~~(Exact~~British ~~name~~Columbia, ofCanada ~~registrant~~(State asor other ~~specified~~jurisdiction inof ~~its~~incorporation ~~charter~~or organization)

~~British~~1100-1200 ~~Columbia~~West 73rd Avenue Vancouver, British Columbia Canada V6P 6G5 (Address of principal executive offices, including zip code.)

604-267-7078 (~~State~~telephone ornumber, including ~~other~~area ~~jurisdiction of incorporation or organization~~code)

1100-1200 West 73rd Avenue

Vancouver, British Columbia

Canada V6P 6G5

(Address of principal executive offices, including zip code.)

604-267-7078

(telephone number, including area code)

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.
YES [X] NO [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (SS 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
YES [ ] NO [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated 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 smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
YES [ ] NO [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 17,219,486 as of ~~August~~November 1612, 2013.

Table of Contents

TABLE OF CONTENTS

		Page	~~Page~~
~~PART I.~~	PART I.
Item 1.	Financial Statements.		3
	Financial Statements:	3
	Consolidated Balance Sheets	~~Consolidated Balance Sheets~~3	3
	Consolidated Statements of Operations and Comprehensive Loss	~~Consolidated Statements of Operations and Comprehensive Loss~~4	4
	Consolidated Statements of Stockholders’ Equity (Deficiency)	~~Consolidated Statements of Stockholders’ Equity (Deficiency)~~5	5
	Consolidated Statements of Cash Flows	~~Consolidated Statements of Cash Flows~~8	6
	Notes to Consolidated Financial Statements	~~Notes to Consolidated Financial Statements~~9	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	26	39
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	37	54
Item 4.	Controls and Procedures.	37	54
~~PART II.~~	PART II.
Item 1A.	Risk Factors.	37	54
Item 6.	Exhibits.	38	55
Signatures		44	61
Exhibit Index		45	62

-2-

Table of Contents

PART I.

ITEM 1. FINANCIAL STATEMENTS.

CORONUS SOLAR INC. (A Development Stage Enterprise) CONSOLIDATED BALANCE SHEETS (Expressed in US Dollars) (Unaudited)

			June 30,		March 31,
		September 30,			March 31,
		2013	~~2013~~		2013
ASSETS
CURRENT
Cash and cash equivalents	~~Cash and cash equivalents~~$	$94,622	~~95,312~~	$	284,989
Other receivables	~~Other receivables~~	7,261	~~4,120~~		34,529
Prepaid expenses and deposits (Note 7)	~~Prepaid expenses and deposits (Note 7)~~	3,134	~~1,838~~		27,666
	Assets held for sales (Note 8)		4,314,917		-
Receivable - debenture, net - current (Note 11)		1,270,551			-
TOTAL CURRENT ASSETS		1,375,568	~~4,416,187~~		347,184
PREPAID EXPENSES AND DEPOSITS			-		564,150
PREPAID EXPENSES AND DEPOSITS (Note 7)		-			564,150
PROPERTY, PLANT AND EQUIPMENT (Note 9)		119,489	~~33,330~~		127,002
PROJECT ASSETS			-		3,477,920
RECEIVABLE - DEBENTURE - LONG TERM (Note 11)		3,096,003			-
TOTAL ASSETS		$	4,449,517	$	4,516,256
PROJECT ASSETS		-			3,477,920
LIABILITIES
TOTAL ASSETS	$	4,591,060		$	4,516,256
CURRENT
LIABILITIES
	Accounts payable and accrued liabilities (Note 14)	$	66,750	$	72,725
CURRENT
	Senior secured promissory note		-		2,902,100
Accounts payable and accrued liabilities (Note 14)	$	103,495		$	72,725
	Notes payable		-		232,084
Senior secured promissory note		-			2,902,100
	Liabilities held for sales (Note 11)		4,085,420		-
Notes payable		37,100			232,084
TOTAL CURRENT LIABILITIES			4,152,170		3,206,909
Deferred expenses - current (Note 8)		262,173			-
NOTES PAYABLE LONG TERM			-		579,014
TOTAL CURRENT LIABILITIES		402,768			3,206,909
TOTAL LIABILITIES			4,152,170		3,785,923
NOTES PAYABLE - LONG TERM		-			579,014
STOCKHOLDERS' EQUITY
DEFERRED EXPENSES - LONG TERM (Note 8)		619,201			-
SHARE CAPITAL (Note 12)
TOTAL LIABILITIES		1,021,969			3,785,923
	Authorized: Unlimited voting common shares without par value Issued and outstanding: 17,219,486 common shares (March 31, 2013: 17,219,486)		1,548,492		1,548,492
STOCKHOLDERS' EQUITY
ADDITIONAL PAID IN CAPITAL			598,534		598,534
SHARE CAPITAL (Note 12)
ACCUMULATED OTHER COMPREHENSIVE LOSS			(31,964)		(28,035)
Authorized:
DEFICIT, accumulated during the development stage			(1,817,715)		(1,388,658)
Unlimited voting common shares without par value
TOTAL STOCKHOLDERS' EQUITY			297,347		730,333
Issued and outstanding:
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	4,449,517	$	4,516,256
17,219,486 common shares (March 31, 2013: 17,219,486)		1,548,492			1,548,492
COMMITMENTS (Note 15)
ADDITIONAL PAID IN CAPITAL		598,534			598,534
GOING CONCERN (Note 2)
ACCUMULATED OTHER COMPREHENSIVE LOSS		(35,208	)		(28,035	)
RETAINED EARNINGS (DEFICIT), accumulated during the development stage		1,457,273			(1,388,658	)
TOTAL STOCKHOLDERS' EQUITY		3,569,091			730,333
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	4,591,060		$	4,516,256
COMMITMENTS (Note 15)
GOING CONCERN (Note 2)

(See accompanying notes to the consolidated financial statements)

-3-

~~Table~~CORONUS ofSOLAR ~~Contents~~INC.(A Development Stage Enterprise)CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Expressed in U.S. Dollars)(Unaudited)

CORONUS SOLAR INC. (A Development Stage Enterprise) CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Expressed in U.S. Dollars) (Unaudited)

														Cumulative from
		Three months ended						Six months ended						inception
		September 30,						September 30,						(December 3, 2001) to
		2013			2012			2013			2012			September 30, 2013

REVENUE	$	-		$	-		$	-		$	-		$	1,751

EXPENSES
Amortization - tangible and intangible assets		8			1,801			12			3,604			57,381
Amortization - financing costs on promissory note		46,565			-			146,568			-			208,690
Consulting fees		(36,243	)		-			111,904			-			229,425
Interest on shareholder loan		-			-			-			430			28,306
Interest and bank charges		46,381			1,847			98,013			9,054			175,486
Imputed interest expense		3,176			-			3,176			-			3,176
Office and miscellaneous		28,389			11,728			52,513			26,065			216,713
Professional fees		43,855			19,214			91,672			49,468			525,767
Repairs and maintenance		-			-			-			-			869
Salaries and wages (Note 14)		15,405			25,290			39,976			50,182			608,513
Stock based compensation		-			-			-			-			492,309
Telephone and utilities		270			6			674			193			13,863
Advertising and promotion		-			58			-			402			9,124
Travel		3,050			-			9,742			-			20,919
Feasibility study		1,822			72,857			25,855			116,157			308,296
Foreign exchange loss (gain)		1,079			944			(1,366	)		8,457			12,928
Write-down of land deposits		-			-			-			-			23,888
Write down in website development costs		-			-			-			-			17,390
Write-off CIP		-			-			-			-			658,440
Write-off trademark cost		-			-			-			-			279
Write-off on discount of convertible notes		-			-			-			80,237			86,923

		153,757			133,745			578,739			344,249			3,698,685

OTHER ITEMS
Interest income		11			85			86			85			207
Imputed interest income		15,880			-			15,880			-			15,880
Debt forgiven		-			-			-			-			13,192
Gain on sale of assets (Note 10)		-			908,030			-			1,717,024			1,717,024
Gain on disposal of subsidiaries (Note 8)		3,420,612			-			3,420,612			-			3,420,612
Write-down land related costs		(7,758	)		-			(7,758	)		-			(7,758	)
Other income		-			-			850			-			850
Other expenses		-			-			-			-			(800	)

		3,428,745			908,115			3,429,670			1,717,109			5,159,207

INCOME BEFORE INCOME TAXES		3,274,988			774,370			2,850,931			1,372,860			1,462,273

Income Taxes		-			-			5,000			-			5,000

INCOME FOR THE PERIOD		3,274,988			774,370			2,845,931			1,372,860			1,457,273

OTHER COMPREHESIVE INCOME (LOSS) FOR THE PERIOD

Exchange difference on translation		(3,244	)		(3,306	)		(7,173	)		(1,493	)		(35,208	)

COMPREHENSIVE INCOME FOR THE PERIOD	$	3,271,744		$	771,064		$	2,838,758		$	1,371,367		$	1,422,065

Income per share - Basic (Note 6)	$	0.19		$	0.04		$	0.17		$	0.06

Weighted average number of common shares outstanding - basic		17,219,486			22,050,432			17,219,486			24,559,473

Income per share - Diluted (Note 6)	$	0.18		$	0.03		$	0.16		$	0.05


Weighted average number of common shares outstanding - diluted		18,044,803			22,875,748			18,044,803			25,384,789

							Cumulative from
			Three months ended June 30,				inception (December 3, 2001) to
			2013		2012		June 30, 2013
REVENUE		$	-	$	-	$	1,751
EXPENSES
	Amortization - tangible and intangible assets		8		1,803		57,377
	Amortization - financing costs on promissory note		100,003		-		162,125
	Consulting fees		148,147		-		265,668
	Interest on shareholder loan		-		430		28,306
	Interest and bank charges		51,632		7,207		129,105
	Office and miscellaneous		24,124		14,337		188,324
	Professional fees		47,817		30,254		481,912
	Repairs and maintenance		-		-		869
	Salaries and wages (Note 14)		24,571		24,892		593,108
	Stock based compensation		-		-		492,309
	Telephone and utilities		404		187		13,593
	Advertising and promotion		-		344		9,124
	Travel		6,692		-		17,869
	Feasibility study		24,033		43,300		306,474
	Foreign exchange loss (gain)		(2,449)		7,513		11,845
	Write-down of land deposits		-		-		23,888
	Write down in website development costs		-		-		17,390
	Write-off CIP		-		-		658,440
	Write-off trademark cost		-		-		279
	Write-off on discount of convertible notes		-		80,237		86,923
			424,982		210,504		3,544,928
OTHER ITEMS
	Interest income		75		-		196
	Debt forgiven		-		-		13,192
	Gain on sale of assets (Note 10)		-		808,994		1,717,024
	Other income		850		-		850
	Other expenses		-		-		(800)
			925		808,994		1,730,462
INCOME (LOSS) BEFORE INCOME TAXES			(424,057)		598,490		(1,812,715)
	Income Taxes		5,000		-		5,000
INCOME (LOSS) FOR THE PERIOD			(429,057)		598,490		(1,817,715)
OTHER COMPREHESIVE INCOME (LOSS) FOR THE PERIOD
Exchange difference on translation			(3,929)		1,813		(31,964)
COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD		$	(432,986)	$	600,303	$	(1,849,679)
Profit (loss) per share - Basic (Note 6)		$	(0.02)	$	0.02
Weighted average number of common shares outstanding - basic			17,219,486		27,096,086
Profit (loss) per share - Diluted (Note 6)		$	(0.02)	$	0.02
Weighted average number of common shares outstanding - diluted			17,219,486		27,921,403

(See accompanying notes to the consolidated financial statements)

~~(See accompanying notes to the consolidated financial statements)~~-4-

~~-4-~~CORONUS SOLAR INC.(A Development Stage Company)CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITYDecember 3, 2001 (inception) to September 30, 2013(Expressed in U.S. Dollars)

Table of Contents

				ACCUMULATED		DEFICIT
				OTHER		ACCUMULATED
			ADDITIONAL	COMPREHENSIVE		DURING		TOTAL
	COMMON		PAID-IN	INCOME		DEVELOPMNET		STOCKHOLDERS
	SHARES	AMOUNT	CAPITAL	(LOSS)		STAGE		EQUITY

Stock issued for service at $0.0525 per share on December 5, 2001	75,000	3,931	-	-		-		3,931
Stock issued for cash at $0.0002 per share on December 5, 2001, revalued at $0.0525 per share	6,750,000	353,767	-	-		-		353,767
Stock issued for cash at $0.0525 per share on December 5, 2001	300,000	15,722	-	-		-		15,722
Stock-based compensation on 75,000 options granted	-	-	6,026	-		-		6,026
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(9	)	-		(9	)
(Loss) for the period	-	-	-	-		(376,277	)	(376,277	)

Balance, March 31, 2002	7,125,000	373,420	6,026	(9	)	(376,277	)	3,160

Stock issued for cash at $0.055 per share on April 5, 2002	235,294	12,916	-	-		-		12,916
Stock issued for cash at $0.0725 per share on June 18, 2002	88,890	6,458	-	-		-		6,458
Exericse of warrants at $0.055 per share on August 15, 2002	235,294	12,916	-	-		-		12,916
Stock issued for cash at $0.0725 per share
on December 16, 2002	44,444	3,229	-	-		-		3,229
on January 10, 2003	44,446	3,229	-	-		-		3,229
on January 21, 2003	88,890	6,458	-	-		-		6,458
on March 7, 2003	205,690	14,944	-	-		-		14,944
on March 13, 2003	27,644	2,008	-	-		-		2,008
Stock issued for debt at $0.0725 per share on January 15, 2003	22,222	1,615	-	-		-		1,615
Imputed interest from shareholder loan	-	-	340	-		-		340
Stock-based compensation on 25,000 options granted	-	-	1,957	-		-		1,957
Comprehensive income (loss):
Currency translation adjustment	-	-	-	197		-		197
(Loss) for the year	-	-	-	-		(67,360	)	(67,360	)

Balance, March 31, 2003	8,117,814	437,194	8,323	188		(443,637	)	2,068

Stock issued for cash at $0.0835 per share
on April 2, 2003	88,890	7,403	-	-		-		7,403
on May 13, 2003	44,446	3,702	-	-		-		3,702
on May 21, 2003	44,446	3,702	-	-		-		3,702
on June 23, 2003	133,334	11,105	-	-		-		11,105
on August 1, 2003	44,444	3,702	-	-		-		3,702
on August 6, 2003	44,446	3,702	-	-		-		3,702
on October 24, 2003	50,000	4,164	-	-		-		4,164
on November 18, 2003	50,000	4,164	-	-		-		4,164
Stock issued for debt at $0.0835 per share
on April 15, 2003	22,222	1,851	-	-		-		1,851
on July 15, 2003	22,222	1,851	-	-		-		1,851
on October 15, 2003	22,222	1,851	-	-		-		1,851
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(265	)	-		(265	)
(Loss) for the year	-	-	-	-		(63,056	)	(63,056	)

Balance, March 31, 2004	8,684,486	484,390	8,323	(77	)	(506,693	)	(14,057	)

Stock issued for cash at $0.039 per share
on June 15, 2004	1,200,000	47,054	-	-		-		47,054
on June 30, 2004	400,000	15,685	-	-		-		15,685
on December 17, 2004	1,510,000	59,210	-	-		-		59,210
Forgiveness of debt by a director and shareholder	-	-	3,921	-		-		3,921
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(12,847	)	-		(12,847	)
(Loss) for the year	-	-	-	-		(65,452	)	(65,452	)

Balance, March 31, 2005	11,794,486	606,339	12,244	(12,924	)	(572,145	)	33,514

~~CORONUS SOLAR INC. (A Development Stage Company) CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY December 3, 2001 (inception) to June 30, 2013 (Expressed in U.S. Dollars)~~-5-

					ACCUMULATED	DEFICIT
					OTHER	ACCUMULATED
				ADDITIONAL	COMPREHENSIVE	DURING	TOTAL
		COMMON		PAID-IN	INCOME	DEVELOPMNET	STOCKHOLDERS'
		SHARES	AMOUNT	CAPITAL	(LOSS)	STAGE	EQUITY
Stock issued for service at $0.0525 per share
on December 5, 2001		75,000	3,931	-	-	-	3,931
Stock issued for cash at $0.0002 per share
on December 5, 2001, revalued at $0.0525 per share		6,750,000	353,767	-	-	-	353,767
Stock issued for cash at $0.0525 per share
on December 5, 2001		300,000	15,722	-	-	-	15,722
Stock-based compensation on 75,000 options granted		-	-	6,026	-	-	6,026
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(9)	-	(9)
	(Loss) for the period	-	-	-	-	(376,277)	(376,277)
Balance, March 31, 2002		7,125,000	373,420	6,026	(9)	(376,277)	3,160
Stock issued for cash at $0.055 per share
on April 5, 2002		235,294	12,916	-	-	-	12,916
Stock issued for cash at $0.0725 per share
on June 18, 2002		88,890	6,458	-	-	-	6,458
Exericse of warrants at $0.055 per share
on August 15, 2002		235,294	12,916	-	-	-	12,916
Stock issued for cash at $0.0725 per share
on December 16, 2002		44,444	3,229	-	-	-	3,229
on January 10, 2003		44,446	3,229	-	-	-	3,229
on January 21, 2003		88,890	6,458	-	-	-	6,458
on March 7, 2003		205,690	14,944	-	-	-	14,944
on March 13, 2003		27,644	2,008	-	-	-	2,008
Stock issued for debt at $0.0725 per share
on January 15, 2003		22,222	1,615	-	-	-	1,615
Imputed interest from shareholder loan		-	-	340	-	-	340
Stock-based compensation on 25,000 options granted		-	-	1,957	-	-	1,957
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	197	-	197
	(Loss) for the year	-	-	-	-	(67,360)	(67,360)
Balance, March 31, 2003		8,117,814	437,194	8,323	188	(443,637)	2,068
Stock issued for cash at $0.0835 per share
on April 2, 2003		88,890	7,403	-	-	-	7,403
on May 13, 2003		44,446	3,702	-	-	-	3,702
on May 21, 2003		44,446	3,702	-	-	-	3,702
on June 23, 2003		133,334	11,105	-	-	-	11,105
on August 1, 2003		44,444	3,702	-	-	-	3,702
on August 6, 2003		44,446	3,702	-	-	-	3,702
on October 24, 2003		50,000	4,164	-	-	-	4,164
on November 18, 2003		50,000	4,164	-	-	-	4,164
Stock issued for debt at $0.0835 per share
on April 15, 2003		22,222	1,851	-	-	-	1,851
on July 15, 2003		22,222	1,851	-	-	-	1,851
on October 15, 2003		22,222	1,851	-	-	-	1,851
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(265)	-	(265)
	(Loss) for the year	-	-	-	-	(63,056)	(63,056)
Balance, March 31, 2004		8,684,486	484,390	8,323	(77)	(506,693)	(14,057)
Stock issued for cash at $0.039 per share
on June 15, 2004		1,200,000	47,054	-	-	-	47,054
on June 30, 2004		400,000	15,685	-	-	-	15,685
on December 17, 2004		1,510,000	59,210	-	-	-	59,210
Forgiveness of debt by a director and shareholder		-	-	3,921	-	-	3,921
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(12,847)	-	(12,847)
	(Loss) for the year	-	-	-	-	(65,452)	(65,452)
Balance, March 31, 2005		11,794,486	606,339	12,244	(12,924)	(572,145)	33,514
Exericse of warrants at $0.042 per share
on July 28, 2005		200,000	8,385	-	-	-	8,385
on September 14, 2005		100,000	4,193	-	-	-	4,193
Stock issued for debt at $0.042 per share
on March 15, 2006		395,600	16,586	-	-	-	16,586
Forgiveness of debt by a director and shareholder		-	-	34,798	-	-	34,798
Imputed interest from shareholder loan		-	-	350	-	-	350
Stock-based compensation on 450,000 options granted		-	-	31,972	-	-	31,972
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	1,059	-	1,059
	(Loss) for the year	-	-	-	-	(112,773)	(112,773)
Balance, March 31, 2006		12,490,086	635,502	79,364	(11,865)	(684,918)	18,083
Stock issued for cash at $0.044 per share
on November 24, 2006		600,000	26,369	-	-	-	26,369
on December 7, 2006		400,000	17,579	-	-	-	17,579
Forgiveness of debt by a director and shareholder		-	-	31,643	-	-	31,643
Imputed interest from shareholder loan		-	-	939	-	-	939
Stock-based compensation on 100,000 options granted		-	-	7,932	-	-	7,932
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(108)	-	(108)
	(Loss) for the year	-	-	-	-	(65,430)	(65,430)
Balance, March 31, 2007		13,490,086	679,450	119,877	(11,973)	(750,348)	37,006
Stock issued for debt at $0.0485 per share
on May 4, 2007		52,500	2,548	-	-	-	2,548
Forgiveness of debt by a director and shareholder		-	-	34,950	-	-	34,950
Imputed interest from shareholder loan		-	-	1,126	-	-	1,126
Stock-based compensation on 100,000 options granted		-	-	8,787	-	-	8,787
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	4,447	-	4,447
	(Loss) for the year	-	-	-	-	(96,432)	(96,432)
Balance, March 31, 2008		13,542,586	681,999	164,740	(7,526)	(846,780)	(7,567)
Forgiveness of debt by a director and shareholder		-	-	31,932	-	-	31,932
Imputed interest from shareholder loan		-	-	2,228	-	-	2,228
Stock-based compensation		-	-	55,180	-	-	55,180
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	10,232	-	10,232
	(Loss) for the year	-	-	-	-	(172,863)	(172,863)
Balance, March 31, 2009		13,542,586	681,999	254,080	2,706	(1,019,643)	(80,858)
Stock issued for acquisition of Coronus Energy Corp. on November 2, 2009		2,000,000	10,752	10,886	-	-	21,638
Forgiveness of debt by a director and shareholder		-	-	33,015	-	-	33,015
Imputed interest from shareholder loan		-	-	4,997	-	-	4,997
Stock-based compensation		-	-	26,144	-	-	26,144
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(25,943)	-	(25,943)
	(Loss) for the year	-	-	-	-	(155,180)	(155,180)
Balance, March 31, 2010		15,542,586	692,751	329,122	(23,237)	(1,174,823)	(176,187)
Stock issued for cash at $0.402 per share
on January 21, 2011 (net of share issuance cost)		212,500	70,693	-	-	-	70,693
Stock issued for construction of solar power plants on March 31, 2011		10,974,000	6,584,400	-	-	-	6,584,400
Forgiveness of debt by a director and shareholder		-	-	35,420	-	-	35,420
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(11,701)	-	(11,701)
	(Loss) for the year	-	-	-	-	(170,028)	(170,028)
Balance, March 31, 2011		26,729,086	7,347,844	364,542	(34,938)	(1,344,851)	6,332,597
Stock issued for cash at $0.624 per share
on May 10, 2011		350,000	120,838	90,628	-	-	211,466
Stock issued for cash at $0.598 per share
on October 24, 2011		17,000	5,770	4,501	-	-	10,271
Forgiveness of debt by a director and shareholder		-	-	38,165	-	-	38,165
Warrants and conversion beneficiary features		-	-	100,698	-	-	100,698
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	8,706	-	8,706
	(Loss) for the year	-	-	-	-	(370,798)	(370,798)
Balance, March 31, 2012		27,096,086	7,474,452	598,534	(26,232)	(1,715,649)	6,331,105
Stock cancelled for amendment of agreement on August 15, 2012 (Note 10)		(9,876,600)	(5,925,960)	-	-	-	(5,925,960)
Forgiveness of debt by a director and shareholder
Comprehensive income:
	Currency translation adjustment	-	-	-	(1,803)	-	(1,803)
	Income for the year	-	-	-	-	326,991	326,991
Balance, March 31, 2013		17,219,486	1,548,492	598,534	(28,035)	(1,388,658)	730,333
Comprehensive income:
	Currency translation adjustment	-	-	-	(3,929)	-	(3,929)
	Income for the period	-	-	-	-	(429,057)	(429,057)
Balance, June 30, 2013 (Unaudited)		17,219,486	1,548,492	598,534	(31,964)	(1,817,715)	297,347

CORONUS SOLAR INC.
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
December 3, 2001 (inception) to September 30, 2013
(Expressed in U.S. Dollars)

-5-

				ACCUMULATED		DEFICIT
				OTHER		ACCUMULATED
			ADDITIONAL	COMPREHENSIVE		DURING		TOTAL
	COMMON		PAID-IN	INCOME		DEVELOPMNET		STOCKHOLDERS
	SHARES	AMOUNT	CAPITAL	(LOSS)		STAGE		EQUITY
Exericse of warrants at $0.042 per share
on July 28, 2005	200,000	8,385	-	-		-		8,385
on September 14, 2005	100,000	4,193	-	-		-		4,193
Stock issued for debt at $0.042 per share on March 15, 2006	395,600	16,586	-	-		-		16,586
Forgiveness of debt by a director and shareholder	-	-	34,798	-		-		34,798
Imputed interest from shareholder loan	-	-	350	-		-		350
Stock-based compensation on 450,000 options granted	-	-	31,972	-		-		31,972
Comprehensive income (loss):
Currency translation adjustment	-	-	-	1,059		-		1,059
(Loss) for the year	-	-	-	-		(112,773	)	(112,773	)

Balance, March 31, 2006	12,490,086	635,502	79,364	(11,865	)	(684,918	)	18,083

Stock issued for cash at $0.044 per share
on November 24, 2006	600,000	26,369	-	-		-		26,369
on December 7, 2006	400,000	17,579	-	-		-		17,579
Forgiveness of debt by a director and shareholder	-	-	31,643	-		-		31,643
Imputed interest from shareholder loan	-	-	939	-		-		939
Stock-based compensation on 100,000 options granted	-	-	7,932	-		-		7,932
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(108	)	-		(108	)
(Loss) for the year	-	-	-	-		(65,430	)	(65,430	)

Balance, March 31, 2007	13,490,086	679,450	119,877	(11,973	)	(750,348	)	37,006

Stock issued for debt at $0.0485 per share on May 4, 2007	52,500	2,548	-	-		-		2,548
Forgiveness of debt by a director and shareholder	-	-	34,950	-		-		34,950
Imputed interest from shareholder loan	-	-	1,126	-		-		1,126
Stock-based compensation on 100,000 options granted	-	-	8,787	-		-		8,787
Comprehensive income (loss):
Currency translation adjustment	-	-	-	4,447		-		4,447
(Loss) for the year	-	-	-	-		(96,432	)	(96,432	)

Balance, March 31, 2008	13,542,586	681,999	164,740	(7,526	)	(846,780	)	(7,567	)

Forgiveness of debt by a director and shareholder	-	-	31,932	-		-		31,932
Imputed interest from shareholder loan	-	-	2,228	-		-		2,228
Stock-based compensation	-	-	55,180	-		-		55,180
Comprehensive income (loss):
Currency translation adjustment	-	-	-	10,232		-		10,232
(Loss) for the year	-	-	-	-		(172,863	)	(172,863	)

Balance, March 31, 2009	13,542,586	681,999	254,080	2,706		(1,019,643	)	(80,858	)

Stock issued for acquisition of Coronus Energy Corp. on November 2, 2009	2,000,000	10,752	10,886	-		-		21,638
Forgiveness of debt by a director and shareholder	-	-	33,015	-		-		33,015
Imputed interest from shareholder loan	-	-	4,997	-		-		4,997
Stock-based compensation	-	-	26,144	-		-		26,144
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(25,943	)	-		(25,943	)
(Loss) for the year	-	-	-	-		(155,180	)	(155,180	)

Balance, March 31, 2010	15,542,586	692,751	329,122	(23,237	)	(1,174,823	)	(176,187	)

Stock issued for cash at $0.402 per share on January 21, 2011 (net of share issuance cost)	212,500	70,693	-	-		-		70,693
Stock issued for construction of solar power plants on March 31, 2011	10,974,000	6,584,400	-	-		-		6,584,400
Forgiveness of debt by a director and shareholder	-	-	35,420	-		-		35,420
Comprehensive income (loss):
Currency translation adjustment	-	-	-	(11,701	)	-		(11,701	)
(Loss) for the year	-	-	-	-		(170,028	)	(170,028	)

Balance, March 31, 2011	26,729,086	7,347,844	364,542	(34,938	)	(1,344,851	)	6,332,597

~~Table of Contents~~-6-

CORONUS SOLAR INC. (A Development Stage ~~Enterprise~~ Company) CONSOLIDATED STATEMENTS OF ~~CASH~~STOCKHOLDERS' EQUITYDecember ~~FLOWS~~3, 2001 (inception) to September 30, 2013(Expressed in U.S. Dollars) ~~(Unaudited)~~

								Cumulative from
									ACCUMULATED		DEFICIT
				Three months ended June 30,				inception (December 3, 2001) to
									OTHER		ACCUMULATED
				2013		2012		June 30, 2013
								ADDITIONAL	COMPREHENSIVE		DURING		TOTAL
OPERATING ACTIVITIES
		COMMON						PAID-IN	INCOME		DEVELOPMNET		STOCKHOLDERS
	Net income (loss) from operations		$	(429,057)	$	598,489	$	(1,817,715)
		SHARES			AMOUNT			CAPITAL	(LOSS)		STAGE		EQUITY
	Adjustments to reconcile net loss to net cash used in operating activities:
Stock issued for cash at $0.624 per share on May 10, 2011		350,000			120,838			90,628	-		-		211,466
		Amortization - tangible and intangible assets		8		1,803		57,377
Stock issued for cash at $0.598 per share on October 24, 2011		17,000			5,770			4,501	-		-		10,271
		Amortization - financing costs on promissory note		100,003		-		180,509
Forgiveness of debt by a director and shareholder		-			-			38,165	-		-		38,165
		Foreign exchange gain/loss		-		-		(20,930)
Warrants and conversion beneficiary features		-			-			100,698	-		-		100,698
		Forgiveness of debt		-		-		249,069
Comprehensive income (loss):
		Imputed interests		-		-		27,873
Currency translation adjustment		-			-			-	8,706		-		8,706
		Share issued for services / debts		-		-		26,301
(Loss) for the year		-			-			-	-		(370,798	)	(370,798	)
		Stock based compensation		-		-		492,309
Balance, March 31, 2012		27,096,086			7,474,452			598,534	(26,232	)	(1,715,649	)	6,331,105
		Amortization on discount of convertible notes		-		86,157		102,121
Stock cancelled for amendment of agreement on August 15, 2012 (Note 10)		(9,876,600	)		(5,925,960	)		-	-		-		(5,925,960	)
		Gain on sale of assets		-		(808,994)		(1,717,024)
Forgiveness of debt by a director and shareholder								-	-		-		-
		Write-down of land deposits		-		-		12,278
Comprehensive income :
		Write down of website development costs						17,390
Currency translation adjustment		-			-			-	(1,803	)	-		(1,803	)
		Write-off CIP		-		-		658,440
Income for the year		-			-			-	-		326,991		326,991
		Write-off trademark cost		-		-		279
Balance, March 31, 2013		17,219,486			1,548,492			598,534	(28,035	)	(1,388,658	)	730,333
	Changes in non-cash working capital:
Comprehensive income :
		Other receivables		30,225		(3,596)		(3,184)
Currency translation adjustment		-			-			-	(7,173	)	-		(7,173	)
		Prepaid expenses and deposits		13,784		(53,797)		(612,213)
Income for the period		-			-			-	-		2,845,931		2,845,931
		Accounts payables and accrued liabilities		146,503		(38,717)		250,494
Balance, September 30, 2013		17,219,486			1,548,492			598,534	(35,208	)	1,457,273		3,569,091
NET CASH USED IN OPERATING ACTIVITIES				(138,534)		(218,655)		(2,096,626)
INVESTING ACTIVITIES
	Property, plant and equipment			-		-		(1,871)
	Land acquisition			(168,352)		(175,573)		(2,999,721)
	Land deposit			-		-		(48,423)
	Net proceeds on sales of assets			-		815,705		1,723,710
	Intangible asset			-		-		(369)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES				(168,352)		640,132		(1,326,674)
FINANCING ACTIVITIES
	Net assets held for sales					-
	Issuance of common shares			-		-		591,861
	Senior secured promissory note			356,494		-		3,178,088
	Due to related party			(2,586)		-		-
	Loan from a shareholder			-		(240,619)		(47,141)
	Note payable			(232,084)		-		(194,984)
	Convertible note payable			-		(101,189)		(1,390)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES				121,824		(341,808)		3,526,434
EFFECT OF EXCHANGE RATE ON CASH				(4,615)		(3,379)		(7,822)
NET INCREASE (DECREASE) IN CASH				(189,677)		76,290		95,312
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - Beginning of Period				284,989		327		-
CASH AND CASH EQUIVALENTS - End of Period			$	95,312	$	76,617	$	95,312
SUPPLEMENTAL CASH FLOWS INFORMATION
	Interest expense paid in cash		$	9,739	$	26,710	$	84,672
	Taxes paid in cash		$	-	$	-	$	-
NON-CASH FINANCING ACTIVITIES
	Issuance of common shares for acquisition of Coronus Energy Corp.		$	-	$	-	$	21,638
	Establishment of intangible asset through acquisition of Coronus Energy Corp.		$	-	$	-	$	21,500
	Issuance of common shares for construction of solar power plant				$	-	$	6,584,400
	Cancellation of common shares for amendment of the agreement						$	5,925,960
	Forgiveness of debt by a director and shareholder				$	-	$	-

(See accompanying notes to the consolidated financial statements)

-67-

~~Table~~CORONUS ofSOLAR ~~Contents~~INC.(A Development Stage Enterprise)CONSOLIDATED STATEMENTS OF CASH FLOWS(Expressed in U.S. Dollars)(Unaudited)

CORONUS SOLAR INC.

								Cumulative from
		Six months ended						inception
		September 30,						(December 3, 2001) to
		2013			2012			September 30, 2013

OPERATING ACTIVITIES
Net income from operations	$	2,845,931		$	1,372,860		$	1,457,273
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization - tangible and intangible assets		12			3,603			57,381
Amortization - financing costs on promissory note		146,568			-			227,074
Foreign exchange gain/loss		-			-			(20,930	)
Forgiveness of debt		-			-			249,069
Imputed interests, net		(12,704	)		-			15,169
Share issued for services / debts		-			-			26,301
Stock based compensation		-			-			492,309
Amortization on discount of convertible notes		-			86,818			102,121
Gain on sale of assets		-			(1,717,024	)		(1,717,024	)
Gain on sale of subsidiaries		(3,420,612	)		-			(3,420,612	)
Loss on transfer of land		7,758			-			7,758
Write-down of land deposits		-			-			12,278
Write down of website development costs		-			-			17,390
Write-off CIP		-			-			658,440
Write-off trademark cost		-			-			279
Changes in non-cash working capital:
Other receivables		27,148			(5,544	)		(6,261	)
Prepaid expenses and deposits		16,234			(167,379	)		(609,763	)
Accounts payables and accrued liabilities		182,006			(120,399	)		285,997

NET CASH USED IN OPERATING ACTIVITIES		(207,660	)		(547,065	)		(2,165,752	)

INVESTING ACTIVITIES
Property, plant and equipment		-			-			(1,871	)
Project assets acquisition		(271,996	)		(229,354	)		(3,103,365	)
Land deposit		(1,742	)		-			(50,165	)
Net proceeds on sale of subsidiaries		10,000			-			10,000
Net proceeds on sales of assets		-			1,723,710			1,723,710
Intangible asset		-			-			(369	)

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		(263,738	)		1,494,356			(1,422,060	)

FINANCING ACTIVITIES
Issuance of common shares		-			-			591,861
Senior secured promissory note		519,567			-			3,341,161
Due to related party		(2,586	)		-			(2,586	)
Loan from a shareholder		-			(242,466	)		(44,554	)
Note payable		(232,374	)		-			(195,274	)
Convertible note payable		-			(101,965	)		(1,390	)

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		284,607			(344,431	)		3,689,218

EFFECT OF EXCHANGE RATE ON CASH		(3,576	)		(2,576	)		(6,784	)

NET INCREASE (DECREASE) IN CASH		(190,367	)		600,284			94,622
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - Beginning of Period		284,989			327			-

CASH AND CASH EQUIVALENTS - End of Period	$	94,622		$	600,611		$	94,622

SUPPLEMENTAL CASH FLOWS INFORMATION
Interest expense paid in cash	$	17,000		$	34,994		$	91,933
Taxes paid in cash	$	-		$	-		$	-

NON-CASH FINANCING ACTIVITIES
Issuance of common shares for acquisition of Coronus Energy Corp.	$	-		$	-		$	21,638
Establishment of intangible asset through acquisition of Coronus Energy Corp.	$	-		$	-		$	21,500
Issuance of common shares for construction of solar power plant	$	-		$	-		$	6,584,400
Cancellation of common shares for amendment of the agreement	$	-		$	5,295,960		$	5,925,960
Forgiveness of debt by a director and shareholder	$	-		$	-		$	-
Settlement of Senior secured promissory note	$	3,568,236		$	-		$	-

(ASee ~~Development~~accompanying ~~Stage~~notes ~~Enterprise~~to the consolidated financial statements)

~~Notes to Consolidated Financial Statements~~-8-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~Period~~Note ~~Ended~~1 ~~June~~– ~~30,~~Nature ~~2013~~of Operations

~~Note~~Coronus 1Solar –Inc. ~~Nature~~(“the Company”) was incorporated under the Canada Business Corporations Act on December 3, 2001 under the name “The LectureNet Learning Corporation” and was registered extra-provincially in the Province of ~~Operations~~British Columbia on January 24, 2002. The name of the Company was changed to InsightfulMind Learning, Inc. effective August 26, 2002 and was further changed to Coronus Solar Inc. on November 3, 2009.

~~Coronus~~The ~~Solar Inc. (“the~~ Company”)’s ~~was~~current ~~incorporated~~business ~~under~~is ~~the~~to ~~Canada~~deploy ~~Business~~utility-scale ~~Corporations~~solar power ~~Act~~systems ~~on December 3, 2001 under the name “The LectureNet Learning Corporation” and was registered extra-provincially~~ in the ~~Province~~State of ~~British Columbia on January 24~~California, ~~2002~~U.S.A. The ~~name of the~~ Company ~~was~~is ~~changed~~located toin ~~InsightfulMind~~the City ~~Learning,~~of ~~Inc. effective August 26~~Vancouver, ~~2002~~Province ~~and~~of ~~was~~British ~~further changed to Coronus Solar Inc. on November 3~~Columbia, ~~2009~~Canada.

~~The~~On November 2, 2009, the Company’s ~~current~~completed ~~business~~an isagreement (the “Share Purchase Agreement”) to ~~deploy~~acquire all of the issued and outstanding shares of Coronus Energy Corp. (“Coronus”), a start-up stage company founded to deploy and operate utility-scale solar power systems in the State of California~~, U~~.~~S.A.~~ ~~The~~Under the Share Purchase Agreement, the Company isacquired ~~located~~all inof the ~~City~~outstanding shares of ~~Vancouver~~Coronus in exchange for 2,000,000 ~~Province~~(post ofstock ~~British~~forward ~~Columbia~~split) common shares of the Company, ~~Canada~~at a deemed value of $0.025 per share.

OnUnder ~~November~~the 2Share Purchase Agreement, ~~2009~~2,025,000 common shares of the Company ~~completed~~held anby ~~agreement~~Mr. ~~(the~~Jeff ~~“Share~~Thachuk, ~~Purchase~~President ~~Agreement”)~~of tothe ~~acquire~~Company, ~~all~~were oftransferred to ~~the~~Mr. ~~issued~~Mark ~~and~~Burgert, ~~outstanding~~the ~~shares~~sole principal of Coronus, ~~Energy~~for ~~Corp. (“Coronus”)~~$1, aon ~~start-up~~August ~~stage~~19, ~~company~~2009 and ~~founded~~an toaggregate ~~deploy~~of ~~and~~905,000 ~~operate~~(post ~~utility-scale~~stock ~~solar~~forward ~~power~~split) ~~systems~~stock inoptions ~~the State~~ of ~~California.~~the Company ~~Under~~held ~~the~~by ~~Share~~various ~~Purchase~~persons ~~Agreement,~~were ~~the~~cancelled ~~Company~~on ~~acquired~~August ~~all~~10, of2009. ~~the~~Mr. ~~outstanding~~Thachuk was ~~shares~~appointed ofas ~~Coronus~~a indirector ~~exchange~~and ~~for~~the 2Chairman,~~000~~ CEO,~~000~~ ~~(post~~CFO, ~~stock~~Secretary ~~forward~~and ~~split)~~Treasurer of ~~common~~Coronus, ~~shares~~with ofMr. ~~the~~Burgert ~~Company,~~continuing atto ahold ~~deemed~~the ~~value~~office of ~~$0.025~~President ~~per share~~of Coronus.

~~Under~~The ~~the~~transfer ~~Share~~of ~~Purchase~~the ~~Agreement,~~ 2,025,000 common shares of the Company held by Mr. ~~Jeff~~ Thachuk, ~~President of the Company, were transferred~~ to Mr. ~~Mark~~ Burgert, ~~the~~was ~~sole principal of Coronus~~treated, ~~for~~as ~~$1,~~a oncontribution ~~August~~by ~~19,~~Mr. ~~2009 and an aggregate of 905~~Thachuk,~~000~~ ~~(post~~as part ~~stock forward split) stock options~~ of the ~~Company~~consideration ~~held~~for bythe ~~various~~acquisition ~~persons~~of ~~were~~Coronus. ~~cancelled on August 10~~Accordingly, ~~2009. Mr. Thachuk was appointed as~~ a ~~director~~total of ~~and the Chairman~~4, ~~CEO~~025,000 ~~CFO,~~common ~~Secretary~~shares ~~and~~was ~~Treasurer~~determined ofas ~~Coronus, with Mr. Burgert continuing to hold~~ the ~~office~~consideration offor ~~President of Coronus~~the acquisition.

The ~~transfer~~Company ofengaged ~~the~~Mr. ~~2,025,000~~Burgert ~~common~~as ~~shares~~a ofconsultant, ~~the~~and ~~Company~~in consideration ~~held~~for bythis ~~Mr.~~engagement, ~~Thachuk~~granted to Mr. Burgert ~~was~~an ~~treated~~aggregate of 350,000 asoptions exercisable at a ~~contribution~~price byof Mr$0.065 ~~Thachuk~~per share. Additionally, asthe 9,050,000 ~~part~~common shares of the ~~consideration~~Company ~~for~~that ~~the~~are ~~acquisition~~now ofcollectively ~~Coronus~~held between Messrs. ~~Accordingly,~~Thachuk aand ~~total~~Burgert ofhave 4been placed into voluntary escrow,~~025,000~~ ~~common~~to ~~shares~~be released ~~was~~to ~~determined~~each asof them on the ~~consideration~~basis of one common share each for each $0.50 earned in revenue by the ~~acquisition~~Company on a consolidated basis.

The Company ~~engaged~~is ~~Mr.~~considered ~~Burgert~~a development stage company as defined aby ~~consultant,~~Financial ~~and~~Accounting inStandards ~~consideration~~Board ~~for~~(“FASB”) ~~this~~Accounting ~~engagement,~~Standards Codification ~~granted~~("ASC") toTopic ~~Mr.~~915 ~~Burgert~~“Development anStage ~~aggregate~~Entities”. ofThe accompanying ~~350,000~~consolidated ~~options~~financial ~~exercisable~~statements athave abeen ~~price~~prepared ofin ~~$0.065~~conformity with ~~per~~generally ~~share.~~accepted ~~Additionally,~~accounting principles in the 9United States,~~050,000~~ ~~common~~which contemplate ~~shares~~continuation of the Company ~~that~~as ~~are~~a ~~now~~going ~~collectively~~concern. ~~held~~The ~~between~~Company ~~Messrs.~~has accumulated ~~Thachuk~~losses since its inception and ~~Burgert~~requires ~~have~~additional ~~been~~funds ~~placed~~to ~~into~~maintain and ~~voluntary~~expand ~~escrow,~~its tointended bebusiness ~~released~~operations. toIn ~~each~~view of ~~them~~these onmatters, realization ~~the~~of ~~basis~~a major portion of ~~one~~the ~~common~~assets ~~share~~in ~~each~~the ~~for~~accompanying ~~each~~balance ~~$0.50~~sheet is ~~earned~~dependent upon the continued operations of the Company, which in ~~revenue~~turn byis dependent upon the Company's onability ato ~~consolidated~~meet ~~basis~~its financing requirements, and the success of its future operations.

The Company is considered a development stage company as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") Topic 915 “Development Stage Entities”. The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. The Company has accumulated losses since its inception and requires additional funds to maintain and expand its intended business operations. In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon the continued operations of the Company, which in turn is dependent upon the Company's ability to meet its financing requirements, and the success of its future operations.-9-

~~-7-~~CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~Table~~Note 2 – Basis of ~~Contents~~Presentation - Going Concern Uncertainties

~~CORONUS~~The ~~SOLAR~~Company's ~~INC~~ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. Management plans to obtain additional financing through the payment of the Contract Price under the Share Purchase and Development Services Agreement (see Note 8). These consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities other than in the normal course of business.

(AInformation ~~Development~~on ~~Stage~~the ~~Enterprise)~~Company’s working capital and deficit is:

Notes to Consolidated Financial Statements

		September 30,		March 31,
		2013		2013

Working capital (deficiency)	$	972,800	$	(2,859,725	)
Retained earnings (deficit)		1,457,273		(1,388,658	)

~~(Expressed~~Note in3 ~~U.S.~~– ~~Dollars)~~Summary of Significant Accounting Policies

~~Period~~(a) ~~Ended~~Principles ~~June~~of ~~30,~~consolidation ~~2013~~

~~Note~~The accompanying consolidated financial statements include the accounts of Coronus Solar Inc., its 100% owned subsidiary, Coronus 29-Palms Morongo LLC, and until September 19, 2013, its 100% owned subsidiary, Coronus Energy Corp. and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 –LLC, ~~Basis~~Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC. The corresponding comparative figures include the accounts of ~~Presentation~~Coronus Solar Inc. and its 100% owned subsidiaries, Coronus Energy Corp. and Coronus 29-Palms ~~Going~~Morongo ~~Concern~~LLC, ~~Uncertainties~~and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, (collectively, the “Company”). All significant inter-company transactions and accounts have been eliminated in consolidation.

The Company's ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. Management plans to obtain additional financing through the issuance of shares, in order to allow the Company to complete its development phase and commence earning revenue. These consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities other than in the normal course of business.-10-

~~The~~CORONUS ~~Company~~SOLAR ~~will~~INC. ~~seek~~(A ~~additional~~Development ~~equity~~Stage Enterprise) asNotes ~~necessary and it expects~~ to ~~raise~~Consolidated ~~funds~~Financial ~~through~~Statements (Expressed ~~private or public equity investment~~ in ~~order to support existing operations and expand the range of its business~~U.S. ~~There~~Dollars) isPeriod noEnded ~~assurance~~September ~~that such additional funds will be available for the Company on acceptable terms~~30, ~~if at all.~~2013

~~Information~~Note on3 ~~the~~– ~~Company’s~~Summary ~~working~~of ~~capital~~Significant ~~and~~Accounting ~~deficit~~Policies ~~is:~~- Continued

		June 30,		March 31,
		2013		2013
Working capital	$	264,017	$	(2,874,589)
Deficit		1,817,715		1,388,658

(b) Basis of presentation

~~Note~~The 3accompanying –unaudited ~~Summary~~consolidated interim financial statements have been prepared in accordance with the instructions from Form 10-Q pursuant to the rules and regulations of ~~Significant~~the ~~Accounting~~Securities ~~Policies~~and Exchange Commission and, therefore, do not include all information and notes normally provided in the audited financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for fiscal year ended March 31, 2013 filed with the United States Securities and Exchange Commission. The result of operations for the interim periods presented is not necessarily indicative of the results to be expected for the full year.

The accompanying unaudited consolidated interim balance sheets, statements of operations and comprehensive income (aloss), ~~Principles~~stockholders’ equity and cash flows reflected all adjustments, consisting of ~~consolidation~~normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of the Company, at September 30, 2013 and March 31, 2013, and the results of operations and cash flows for the six months ended September 30, 2013 and 2012, and for the period from December 3, 2001 (Date of Commencement) to September 30, 2013.

~~The~~Note accompanying consolidated financial statements include the accounts of Coronus Solar Inc. and its 100% owned subsidiaries, Coronus Energy Corp. and Coronus 29-Palms Morongo LLC, and the 100% owned, subsidiaries of Coronus Energy Corp., namely, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 ~~LLC,~~– ~~Coronus~~Accounting ~~Joshua~~Pronouncements ~~Tree~~Adopted ~~East~~During ~~5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, (collectively,~~ the Period ~~“Company”). All significant inter-company transactions and accounts have been eliminated in consolidation.~~

(ba) ~~Basis~~Disclosures ofabout ~~presentation~~offsetting assets and liabilities

~~The~~On ~~accompanying~~April ~~unaudited~~1, ~~consolidated~~2013, ~~interim~~the ~~financial~~Company ~~statements~~adopted ~~have~~ASU ~~been~~2011-11, “Disclosures ~~prepared~~about inOffsetting ~~accordance~~Assets ~~with~~and ~~the~~Liabilities”, ~~instructions~~which ~~from~~is ~~Form~~in ~~10-Q~~an effort ~~pursuant~~ to ~~the~~improve ~~rules~~comparability ~~and~~between ~~regulations~~US ofGAAP ~~the Securities~~ and ~~Exchange~~IFRS ~~Commission~~financial ~~and,~~statements with ~~therefore,~~regard doto ~~not~~the ~~include~~presentation ~~all~~of ~~information~~offsetting assets and ~~notes~~liabilities ~~normally~~on ~~provided~~the statement inof ~~the~~financial ~~audited~~position arising from financial ~~statements~~and derivative instruments, and ~~should~~repurchase beagreements. ~~read~~The inASU ~~conjunction~~establishes ~~with~~additional disclosures presenting the ~~Company’s~~gross ~~audited~~amounts ~~consolidated~~of ~~financial~~recognized ~~statements~~assets ~~for~~and ~~fiscal~~liabilities, offsetting ~~year~~amounts, ~~ended~~and ~~March~~the ~~31,~~net ~~2013~~balance ~~filed~~reflected ~~with~~in the ~~United~~statement ~~States~~of ~~Securities~~financial position. ~~and~~Descriptive ~~Exchange~~information ~~Commission.~~regarding ~~The~~the ~~result~~nature ofand ~~operations~~rights ~~for~~of the ~~interim~~offset must ~~periods~~also ~~presented~~be isdisclosed. ~~not~~The ~~necessarily~~adoption ~~indicative~~ of the ~~results~~new toguidance beis not expected ~~for~~to have an impact on the ~~full~~Company’s ~~year~~financial statements.

~~-8-~~(b) Comprehensive income

~~Table~~On April 1, 2013, the Company adopted ASU 2013-02, "Comprehensive Income (Topic 220); Reporting of ~~Contents~~Amounts Reclassified out of Accumulated Other Comprehensive Income." This updated guidance improves the reporting of significant items reclassified out of accumulated other comprehensive income and requires an entity to present, either on the face of the statement where net income is presented or in the notes, separately for each component of comprehensive income, the current period reclassifications out of accumulated other comprehensive income by the respective line items of net income affected by the reclassification. Other than requiring additional disclosures, the adoption did not have an effect on our consolidated financial statements.

~~CORONUS SOLAR INC.~~-11-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~Notes~~Note to5 ~~Consolidated~~– ~~Financial~~New ~~Statements~~Accounting Pronouncements Not Yet Adopted

(~~Expressed~~a) inForeign ~~U.S.~~currency ~~Dollars)~~

~~Period~~In ~~Ended~~March ~~June~~2013, 30the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. We will adopt this guidance beginning with our fiscal quarter starting from April 1, 2014. We are currently reviewing the provisions of ASU No. 2013-05 on our consolidated financial statements.

~~Note~~(b) 3Unrecognized –tax ~~Summary~~benefits ~~of Significant Accounting Policies - Continued~~

~~The~~In ~~accompanying~~July ~~unaudited~~2013, ~~consolidated~~the ~~interim~~FASB ~~balance~~issued ~~sheets~~authoritative guidance under Accounting Standard Update ("ASU") 2013-11, ~~statements~~which provides guidance on the financial statement presentation of ~~operations~~an ~~and~~unrecognized ~~comprehensive~~tax ~~income~~benefit (when a net operating loss (“NOL”) carryforward, ~~stockholders’~~a ~~equity~~similar ~~and~~tax ~~cash~~loss, ~~flows~~or ~~reflected~~a ~~all~~tax ~~adjustments,~~credit carryforward ~~consisting~~exists. ofASU ~~normal~~2013-11 ~~recurring~~requires ~~adjustments,~~entities ~~that~~to ~~are,~~present inan ~~the~~unrecognized tax ~~opinion~~benefit as a reduction of ~~management,~~a ~~necessary~~deferred tax asset for a ~~fair~~NOL ~~presentation~~or oftax credit carryforward whenever the ~~financial~~NOL ~~position~~or oftax credit carryforward would be available to reduce the ~~Company,~~additional attaxable ~~June~~income ~~30,~~or ~~2013,~~tax ~~and~~due if the ~~results~~tax ofposition ~~operations~~is disallowed. ~~and~~This ~~cash~~accounting ~~flows~~standard ~~for~~update requires entities to assess whether to net the ~~three~~unrecognized ~~months~~tax ~~ended~~benefit ~~June~~with ~~30,~~a deferred tax asset as of the reporting date. ASU 2013,-11 ~~and~~will be effective for the ~~period~~Company’s ~~from~~first ~~December~~quarter 3,of fiscal ~~2001~~2014. ~~(Date~~The Company is currently evaluating the impact of ~~Commencement)~~this toaccounting standard ~~June~~update ~~30,~~on ~~2013~~its consolidated financial statements.

~~Note~~Other 4accounting –standards ~~Accounting~~that ~~Pronouncements~~have ~~Adopted~~been ~~During~~issued or proposed by the ~~Period~~FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

~~(a)~~Note ~~Disclosures~~6 ~~about~~– ~~offsetting~~Earnings ~~assets~~(Loss) ~~and~~per ~~liabilities~~Share

OnThe ~~April~~calculation 1,of ~~2013,~~basic ~~the~~earnings ~~Company~~per ~~adopted~~share ~~ASU~~for ~~2011-11,~~the ~~“Disclosures~~three months ~~about Offsetting Assets~~ and ~~Liabilities”,~~six ~~which~~months isended inSeptember an30, ~~effort~~2013 towas ~~improve~~based ~~comparability~~on ~~between~~the USnet ~~GAAP~~income attributable ~~and IFRS financial statements with regard~~ to ~~the~~common ~~presentation~~shareholders of ~~offsetting~~$3,274,988 ~~assets~~ and ~~liabilities on the statement of financial position arising from financial and derivative instruments~~$2,845,931 respectively, and ~~repurchase~~a ~~agreements.~~weighted ~~The~~average ~~ASU~~number ~~establishes~~of ~~additional~~common ~~disclosures~~shares ~~presenting~~outstanding ~~the gross amounts~~ of ~~recognized~~17,219,486 ~~assets~~ and ~~liabilities~~ 17, ~~offsetting amounts~~219,486, ~~and the net balance reflected in the statement of financial position~~respectively. Descriptive information regarding the nature and rights of the offset must also be disclosed. The adoption of the new guidance is not expected to have an impact on the Company’s financial statements.

~~(b)~~The ~~Comprehensive~~calculation of basic earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $774,370 and $1,372,860 respectively, and a weighted average number of common shares outstanding of 22,050,432 and 24,559,473, respectively.

~~On April 1, 2013, the Company adopted ASU 2013~~-02, "Comprehensive Income (Topic 220); Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income." This updated guidance improves the reporting of significant items reclassified out of accumulated other comprehensive income and requires an entity to present, either on the face of the statement where net income is presented or in the notes, separately for each component of comprehensive income, the current period reclassifications out of accumulated other comprehensive income by the respective line items of net income affected by the reclassification. Other than requiring additional disclosures, the adoption did not have an effect on our consolidated financial statements.12-

~~Note~~CORONUS 5SOLAR –INC. ~~New~~(A ~~Accounting~~Development ~~Pronouncements~~Stage Enterprise) ~~Not~~Notes ~~Yet~~to ~~Adopted~~Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

Note 6 – Earnings (aLoss) ~~Foreign~~per ~~currency~~Share - Continued

InThe ~~March~~calculation ~~2013,~~of ~~the~~diluted ~~Financial~~earnings ~~Accounting~~per ~~Standards~~share ~~Board (“FASB”) issued Accounting Standards Update ("ASU") 2013-05, "Foreign Currency Matters (Topic 830); Parent’s Accounting~~ for the ~~Cumulative~~three months ~~Translation~~and ~~Adjustment~~six ~~upon~~months ~~Derecognition~~ended ofSeptember ~~Certain~~30, ~~Subsidiaries~~2013 orwas ~~Groups~~based ofon ~~Assets within a Foreign Entity or of an Investment in a Foreign Entity." This guidance applies to~~ the ~~release of the cumulative translation adjustment into~~ net income attributable ~~when~~to acommon ~~parent~~shareholders ~~either sells a part or all~~ of ~~its~~$3,274,988 ~~investment~~and in$2,845,931 arespectively, and ~~foreign entity or no longer holds~~ a ~~controlling~~diluted ~~financial~~weighted ~~interest~~average innumber ~~a subsidiary or group~~ of ~~assets~~common ~~that~~shares isoutstanding ~~a business (other than a sale~~ of ~~in substance real estate or conveyance of oil~~ 18,044,803 and ~~gas mineral rights) within a foreign entity. ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15~~18, ~~2013. We will adopt this guidance beginning with our fiscal quarter starting from April 1~~044, ~~2014~~803. ~~We are currently reviewing the provisions of ASU No. 2013-05 on our consolidated financial statements.~~

~~-9-~~The calculation of diluted earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $771,064 and $1,372,860 respectively, and a diluted weighted average number of common shares outstanding of 22,875,748 and 25,384,789.

~~Table~~(a) ofBasic ~~Contents~~earnings per share

~~CORONUS~~Weighted ~~SOLAR~~average ~~INC.~~number of common shares for basic earnings (loss) per share calculations:

(A Development Stage Enterprise)

	Three months ended			Six months ended
	September 30,			September 30,
	2013	2012		2013	2012

Issued common share at beginning of period	17,219,486	27,096,086		17,219,486	27,096,086
Cancelled during the period	-	(5,045,654	)	-	(2,536,613	)
Weighted average number of common shares at end of period	17,219,486	22,050,432		17,219,486	24,559,473

~~Notes~~(b) toDiluted ~~Consolidated~~earnings ~~Financial~~per ~~Statements~~share

~~(Expressed~~Weighted inaverage ~~U.S.~~number ~~Dollars~~of common shares for diluted earnings (loss) per share calculations:

Period Ended June 30, 2013

	Three months ended		Six months ended
	September 30,		September 30,
	2013	2012	2013	2012
Basic weighted average number of common shares at September 30	17,219,486	22,050,432	17,219,486	24,559,473
Effect of share options on issue	691,900	691,900	691,900	691,900
Effect of share warrants on issue	133,416	133,416	133,416	133,416
Diluted Weighted average number of common shares at September 30	18,044,803	22,875,748	18,044,803	25,384,789

~~Note~~The 5average –market ~~New~~value ~~Accounting~~of ~~Pronouncements~~the ~~Not~~Company’s ~~Yet~~shares ~~Adopted~~for -purposes of ~~Continued~~calculating the dilutive effect of share options and warrants was based on quoted market prices for the period during which the options were outstanding.

~~Other accounting standards that have been issued or proposed by the FASB or other standards~~-~~setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.~~13-

~~Note~~CORONUS 6SOLAR –INC. ~~Earnings~~(A Development Stage Enterprise) Notes to Consolidated Financial Statements (~~Loss~~Expressed in U.S. Dollars) ~~per~~Period ~~Share~~Ended September 30, 2013

~~The~~Note ~~calculation~~7 of– ~~basic~~Prepaid ~~and~~expenses ~~diluted loss per share for the period ended June 30, 2013 was based on the net loss attributable to common shareholders of $429,057~~ and adeposits weighted average number of common shares outstanding of 17,219,486. 740,000 stock options and 533,666 stock purchase warrants were excluded from the diluted loss per share calculations as the effects would be anti-dilutive.

~~The~~Prepaid ~~calculation~~expenses ~~of basic~~ and ~~diluted~~deposits ~~earnings~~at ~~per~~September ~~share for the period ended June~~ 30, ~~2012~~2013 ~~was~~and ~~net income attributable to common shareholders of $598~~March 31,~~490~~ ~~and~~2013 awere ~~weighted~~summarized ~~average~~as ~~number~~follows: ~~of common shares outstanding of 27,096,086 and 27,921,403, respectively.~~

Weighted average number of common shares calculations for basic and diluted earnings (loss) per share for the period ended June 30, 2013 and 2012 are as summarized as follows:

		September 30,		March 31,
		2013		2013
Current
Prepaid expenses	$	400	$	766
Prepaid expenses -Utility Interconnection Studies		-		25,900
Land deposit (a)		2,734		1,000
Long term
Development security deposit		-		564,150
	$	3,134	$	591,816

	Three Months ended
	June 30,
	2013	2012
Issued common share at beginning of period	17,219,486	27,096,086
Weighted average number of common shares at June 30 for basic earnings (loss) per share calculation	17,219,486	27,096,086
Effect of share options on issue	-	691,900
Effect of share warrants on issue	-	133,417
Diluted Weighted average number of common shares at June 30 for diluted earnings (loss) per share calculation	17,219,486	27,921,403

(a) Land deposit

~~The~~On ~~average~~October ~~market~~24, ~~value~~2012, the Company’s then wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California. The purchase price for the land is $86,683, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $85,683 within sufficient time to close escrow. On January 31, 2013, the parties to the 29-Palms Morongo Agreement replaced Coronus as purchaser with the Company’s wholly-owned ~~shares~~subsidiary, ~~for~~Coronus ~~purposes~~29-Palms Morongo LLC (“Coronus 29-Palms Morongo”). Effective May 3, 2013, the parties further amended the 29-Palms Morongo Agreement, wherein the parties agreed to an option arrangement where an option (the “Option”) to purchase the 24.23 acre parcel of ~~calculating~~vacant land was adopted, with the ~~dilutive~~following ~~effect~~terms: 1) Coronus 29-Palms Morongo pays monthly payments equal to 6% per annum of ~~share~~the ~~options~~purchase ~~and~~price, ~~warrants~~or ~~was~~$433.42 ~~based~~per onmonth, ~~quoted~~2) the ~~market~~monthly ~~prices~~payments ~~for~~are applied to the ~~period~~purchase price, provided Coronus 29-Palms Morongo exercises the Option, otherwise the payments are forfeited to the seller, 3) the term of the Option is 24 months, 4) failure to make the monthly payment terminates the Option, and 5) during ~~which~~the term of the ~~options~~Option, ~~were~~the seller ~~outstanding~~provides the necessary consent for Coronus 29-Palms Morongo to apply for a conditional use permit from the County of San Bernardino.

Note 8 -10 Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (“Coronus”)

~~Table~~On ofAugust ~~Contents~~9, 2013, the Company and Coronus Energy Corp. (“Coronus”), the Company’s then wholly-owned subsidiary, entered into a share purchase and development services agreement (the “Share Purchase and Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”). On September 19, 2013, the parties closed on the Share Purchase and Development Services Agreement.

~~CORONUS~~On ~~SOLAR~~December ~~INC~~20, 2012, Coronus and Coronus’ wholly-owned subsidiaries, conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of up to $4,000,000 (the “Loan”).

~~(A Development Stage Enterprise)~~-14-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~(Expressed~~Note in8 U- Disposition of Coronus Energy Corp.S. ~~Dollars~~and its wholly-owned subsidiaries (“Coronus”) - Continued

~~Period~~Under ~~Ended~~the ~~June~~Share 30Purchase and Development Services Agreement, the Company agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar photovoltaic (PV) projects of Coronus, for $8,775,000 (the “Contract Price”). Redwood was to pay the Contract Price by issuing a non-interest bearing, secured debenture (the “Redwood Debenture”) to the Company. On September 19, 2013, at closing, Redwood issued the Redwood Debenture to the Company.

~~Note~~At 7closing, –on ~~Prepaid~~the ~~expenses~~transfer ~~and~~of ~~deposits~~Coronus to Redwood, all then outstanding advances under the Loan, together with all accrued but unpaid interest, were assumed as part of the transfer.

~~Prepaid~~The ~~expenses~~Contract ~~and~~Price, ~~deposits~~based aton ~~June~~an 30agreed upon price of dollars per peak installed watt, ~~2013~~is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and ~~March~~is 31based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by the Company. The payment of the Contract Price, ~~2013~~and ~~were~~the ~~summarized~~corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to the Company on the execution of the Share Purchase and Development Services Agreement on August 9, 2013; 2) $9,000 was paid to the Company on closing on September 19, 2013; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to the Company; 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each pro-rata portion paid to the Company on permanent financial close in connection with the construction of each system; and, 5) the maturity date of Redwood Debenture is February 15, 2015.

			June 30,		March 31,
			2013		2013
Current
	Prepaid expenses	$	405	$	766
	Prepaid expenses - Utility Interconnection Studies		-		25,900
	Land deposit (a)		1,433		1,000
Long Term
	Development security deposit		-		564,150
		$	1,838	$	591,816

Under the Share Purchase and Development Services Agreement, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the following parameters: installed capacity; development expense budget true-up; interconnection refund true-up; and Coronus financial statements true-up. Under the Share Purchase and Development Services Agreement, Redwood agrees to fund, and the Contract Price reflects Redwood funding, certain development expenses that are separate and aside from the Contract Price. The Redwood Debenture security interests received by the Company are subordinate and junior to the interests securing the Loan, as well as subordinate and junior to all future draws under the Loan where the proceeds are used to fund those certain development expenses.

~~(a)~~The ~~Land~~net ~~deposit~~present value of the sales proceeds according to projected collection dates was $4,390,988 after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80% per solar PV system. The fair value calculation of sales proceed is preliminary and is subject to change in future period due to possible adjustments in the valuation assumptions.

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California. The purchase price for the land is $86,683, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $85,683 within sufficient time to close escrow. Effective May 3, 2013, the parties amended the 29-Palms Morongo Agreement, wherein the parties agreed to an option arrangement where an option (the “Option”) to purchase the 24.23 acre parcel of vacant land was adopted, with the following terms: 1) Coronus 29-Palms Morongo LLC pays monthly payments equal to 6% per annum of the purchase price, or $433.42 per month, 2) the monthly payments are applied to the purchase price, provided Coronus 29-Palms Morongo LLC exercises the Option, otherwise the payments are forfeited to the seller, 3) the term of the Option is 24 months, 4) failure to make the monthly payment terminates the Option, and 5) during the term of the Option, the seller provides the necessary consent for Coronus 29-Palms Morongo LLC to apply for a conditional use permit from the County of San Bernardino.

Sales proceeds	$	4,390,988
Less: net book value of assets sold		(92,178	)
additional development cost to be incurred (1)		(878,198	)
Gain on disposal of the subsidiaries	$	3,420,612

~~Note 8 – Assets Held for Sale~~-15-

~~During~~CORONUS ~~the~~SOLAR ~~period ended June 30, 2013, the Company recorded an assets held for sale of $4,314,917~~INC. ~~The assets held for sale resulted from the Company and Coronus entered into a share purchase and development services agreement~~ (~~the~~A ~~“Share Purchase and~~ Development ~~Services Agreement”~~Stage Enterprise) ~~with~~Notes ~~Redwood Solar Development LLC (“Redwood”) [see Note 18(b)]. Redwood is an affiliate of Clean Focus. Under the Share Purchase and Development Services Agreement, the Company has agreed~~ to ~~sell~~Consolidated ~~100%~~Financial of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus. The Company is scheduled to hold an annual and special meeting of its shareholders Statements (~~the~~Expressed ~~“Meeting”) on September 16, 2013, at which time, its shareholders will vote, by proxy or~~ in ~~person, on whether to approve the Share Purchase and Development Services Agreement~~U.S. ~~The closing date (the “Closing Date”~~Dollars) ~~means~~Period ~~the~~Ended ~~date~~September ~~on which the closing will occur~~30, ~~which will be not more than three business days following the date of the Meeting.~~2013

Note 8 -11 Disposition of Coronus Energy Corp. and its wholly-owned subsidiaries (“Coronus”) - Continued

~~Table~~(1) The Company still has to incur additional development costs equivalent to approximately 20% of ~~Contents~~the total sales proceeds of the subsidiaries in order to earn the related sales proceeds [see Notes 14(i) and 14 (ii)]. The net present value of the additional development costs to be incurred was $878,198 after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80% per solar PV system. As of September 30, 2013, the net present value of the additional development costs was $881,374 after adjusting for the imputed interest income of $3,176.

~~CORONUS~~As ~~SOLAR~~at ~~INC~~September 30, 2013, the Company recorded a gain of $3,420,612 on disposal of the subsidiaries.

(ANote ~~Development~~9 ~~Stage~~– ~~Enterprise)~~Property, Plant and Equipment

~~Notes~~Property, toplant ~~Consolidated~~and ~~Financial~~equipment ~~Statements~~at September 30, 2013 and March 31, 2013 were summarized as follows:

(Expressed in U.S. Dollars)

				Accumulated		Net book
September 30, 2013		Cost		depreciation		value

Office equipment	$	1,334	$	1,227	$	107
Computer equipment		1,021		1,000		21
Land*		119,361		-		119,361
	$	121,716	$	2,227	$	119,489

~~Period~~Note ~~Ended~~9 ~~June~~– 30Property, ~~2013~~Plant and Equipment - Continued

Note 8 – Assets Held for Sale – Continued

				Accumulated		Net book
March 31, 2013		Cost		depreciation		value

Office equipment	$	1,351	$	1,231	$	120
Computer equipment		1,034		1,008		26
Land*		126,856		-		126,856
	$	129,241	$	2,239	$	127,002

~~The~~*Land ~~assets held for sale are summarized as follows:~~

		June 30,
		2013
Prepaid expenses and deposits (a) and (b)		576,150
Land (c)		92,758
Project assets (d)		3,646,009
	$	4,314,917

(i) 29-Palms East

(Such represents a) ~~Utility~~30 ~~Interconnection~~acre ~~Studies~~parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $32,000. The Company owns this land unencumbered. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel.

~~(i) FAS Study Agreements for Projects Coronus Adelanto West 1 and 2~~-16-

OnCORONUS ~~February~~SOLAR ~~27,~~INC. ~~2013, Coronus entered into two Facilities Study Agreements~~ (~~the~~A ~~“FAS~~Development ~~Agreements for Adelanto West 1 and 2”~~Stage Enterprise) ~~with~~Notes ~~SCE. The FAS Agreements relate~~ to ~~Coronus’~~Consolidated ~~application~~Financial ~~for~~Statements (Expressed ~~interconnection~~in ~~service and the CREST tariff for two 1~~U.5S. MWDollars) ~~solar~~Period PVEnded ~~systems~~September ~~on the 40 acre parcel of vacant land~~30, ~~situated in the City of Adelanto, California, Coronus acquired on April 19, 2012 (Note 8(iii)).~~2013

~~The~~Note ~~FAS~~9 ~~Agreements~~– set forth the terms and conditions for SCE to perform facilities studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In additionProperty, ~~SCE~~Plant ~~shall make a refined determination of the required interconnection facilities~~ and ~~distribution~~Equipment- ~~system~~Continued upgrades, and any other modifications or additions that would be needed, to accommodate the two PV systems. The estimated cost of each study is $15,000. On entering into the FAS Agreements, Coronus paid SCE the $30,000 in deposits which $28,000 has been amortized to expenses as at June 30, 2013.

(bii) ~~Development~~Newberry ~~security~~Springs ~~deposit~~

~~(i)~~Such ~~Power~~represents ~~Purchase~~a ~~Agreements~~20 ~~for~~acre ~~Projects~~parcel ~~Coronus~~of ~~29-Palms~~vacant ~~North~~land, 1situated in Newberry Springs, 2in ~~and~~the 3County of San Bernardino, California. The purchase price was $45,000. The previous owner holds a $37,000 note against the property, due March 17, 2014, at 6.5% per annum interest, with monthly payments of interest only. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel.

~~On August 30, 2012~~ (~~the “29-Palms North PPAs Effective Date”~~iii), ~~Coronus’ wholly-owned subsidiaries, Coronus~~ 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, and Coronus 29-Palms North 3 LLC, entered into three identical Power Purchase Agreements (the “29-Palms North PPAs”) with SCE. The 29-Palms North PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems (the “29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects”) on the 160 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms North Re-Site Property”), Coronus acquired on December 28, 2012.

~~-12-~~Such represents a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $40,000. The Company owns this land unencumbered. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel.

~~Table~~Note 10 - Disposition of ~~Contents~~Coronus Hesperia West 1 LLC & Coronus Hesperia West 2 LLC

~~CORONUS~~On ~~SOLAR~~April ~~INC~~5, 2012, the Company’s then wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC. On March 19, 2012, Coronus Hesperia West 1 LLC entered into a Power Purchase Agreement (“PPA”) with Southern California Edison (“SCE”). The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system on a 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to a vacant land purchase agreement (the “Hesperia West Agreement”). Additionally, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to assign to Sycamore, the Hesperia West Agreement. Further, under the Sycamore Solar PV Asset Sale

Agreement, Coronus agreed to use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West 20 acre parcel, and to sell this PPA (Arelating ~~Development~~to ~~Stage~~a ~~Enterprise~~1.5 MW solar PV system) to Sycamore if obtained.

~~Notes~~Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to ~~Consolidated~~pay ~~Financial~~$1,726,219 ~~Statements~~(the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 (paid) to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019 (paid), to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole ownership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Agreement to Sycamore.

~~(Expressed in U.S. Dollars)~~-17-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended ~~June~~September 30, 2013

Note 810 –- ~~Assets~~Disposition ~~Held~~of ~~for~~a ~~Sale~~Coronus -Hesperia West 1 LLC - Continued

~~(b)~~On ~~Development~~August ~~security~~30, ~~deposit~~2012, Coronus’ wholly-owned ~~Continued~~subsidiary, Coronus Hesperia West 2 LLC, entered into a PPA with SCE. Having obtained the second PPA on the Hesperia West land parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, of $909,019 to Coronus, and Coronus transferred the sole membership in Coronus West 2 LLC to Sycamore, thus concluding the Sycamore Solar PV Asset Sale Agreement.

The ~~29-Palms~~Company ~~North~~recorded ~~PPAs~~a ~~are~~gain standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects’ generation, net of station use. The term of the 29-Palms North PPAs is 20 years. The price SCE pays for the generation shall be premised on the ~~adopted~~sale ~~2011 Market Price Referent, and shall be adjusted according to SCE’s time~~ of ~~delivery~~Coronus ~~periods~~Hesperia West ~~and energy allocation factors, as scheduled in the 29-Palms North PPAs. Initial operation of the 29-Palms North~~ 1, ~~29-Palms~~LLC ~~North 2,~~ and ~~29-Palms~~Coronus ~~North~~Hesperia 3West ~~Projects~~2 ~~must~~LLC ~~be no later than eighteen months from the 29-Palms North PPAs Effective Date. The 29-Palms North PPAs include, but are not limited to, provisions in respect~~ of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the 29-Palms North PPAs Effective Date, Coronus was required to post and maintain development fees (the “29-Palms North PPAs Development Securities”) equal to $381,~~250 per 29-Palms North PPA. If~~717,024 onas ~~or before initial operation, Coronus demonstrates to SCE's satisfaction that it has installed all~~ of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the 29-Palms North PPAs Development Securities to Coronus within thirty days of each facility’s initial operation. On September 2730, 2012,. ~~Coronus~~Details ~~paid~~are ~~the~~as ~~29-Palms~~follows: ~~North PPAs Development Securities.~~

(ii) Power Purchase Agreements for Projects Coronus Yucca Valley East 1 and 2

Cash consideration	$	1,726,219
Less: net book value of assets sold		9,195
	$	1,717,024

OnNote ~~August~~11 ~~30,~~– ~~2012~~Debenture ~~(the~~Receivable “Yucca Valley East PPAs Effective Date”), Coronus’ wholly-owned subsidiaries, Coronus Yucca Valley East 1 LLC and Coronus Yucca Valley East 2 LLC, entered into two identical Power Purchase Agreements (the “Yucca Valley East PPAs”) with SCE. The Yucca Valley East PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Yucca Valley East 1 and Yucca Valley East 2 Projects”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California (the “Yucca Valley East Property”), Coronus acquired on August 17, 2012, and on the adjacent 20 acre parcel of vacant land (the “Yucca Valley East #2 Property”), Coronus agreed to acquire on March 28, 2013.

~~The~~On ~~Yucca~~August ~~Valley East PPAs are standardized~~9, ~~must-take~~2013, ~~full~~the ~~buy/~~Company ~~sell,~~and ~~power~~Coronus ~~purchase~~Energy ~~agreements~~Corp. (“Coronus”), ~~where~~the ~~SCE~~Company’s ~~purchases~~then ~~all~~wholly-owned ofsubsidiary, ~~the~~entered ~~Yucca~~into ~~Valley~~a ~~East~~share purchase 1 and ~~Yucca~~development ~~Valley~~services ~~East~~agreement 2(the ~~Projects’~~“Share ~~generation,~~Purchase ~~net~~and ofDevelopment Services ~~station~~Agreement”) ~~use.~~with ~~The~~Redwood ~~term~~Solar ofDevelopment ~~the~~LLC ~~Yucca~~(“Redwood”) ~~Valley~~(see ~~East PPAs is 20 years~~Note 8). ~~The~~On ~~price~~September ~~SCE~~19, ~~pays~~2013, ~~for~~ the ~~generation~~parties ~~shall~~closed ~~be premised~~ on the ~~adopted~~Share ~~2011~~Purchase ~~Market Price Referent,~~ and Development ~~shall~~Services beAgreement. ~~adjusted~~Under ~~according~~the toShare ~~SCE’s~~Purchase ~~time of delivery periods~~ and ~~energy~~Development Services ~~allocation factors~~Agreement, ~~as scheduled in~~ the ~~Yucca~~Company ~~Valley~~agreed ~~East~~to ~~PPAs.~~sell ~~Initial~~100% ~~operation~~ of the ~~Yucca~~issued ~~Valley~~and outstanding ~~East~~shares 1,of ~~Yucca~~Coronus ~~Valley~~to ~~East 2~~Redwood, ~~and~~in ~~Yucca~~addition ~~Valley~~to ~~East~~performing 3certain development ~~Projects~~services ~~must~~in berespect noof ~~later than eighteen months from~~ the ~~Yucca~~twelve ~~Valley East PPAs Effective Date. The Yucca Valley East PPAs include~~anticipated, ~~but are not limited to~~utility-scale, ~~provisions~~solar photovoltaic in(PV) ~~respect~~projects of ~~termination~~Coronus, ~~facility~~for ~~operation~~$8, ~~billing and payment~~775,000 ~~curtailment,~~(the ~~and~~“Contract ~~insurance~~Price”). Redwood ~~Additionally,~~was onto orpay ~~before~~ the ~~thirtieth~~Contract ~~day~~Price ~~following~~by ~~the~~issuing ~~Yucca~~a ~~Valley~~non-interest ~~East PPAs Effective Date~~bearing, ~~Coronus~~secured debenture ~~was required to post and maintain development fees~~ (the “~~Yucca~~Redwood ~~Valley East PPA Development Securities~~Debenture”) ~~equal~~ to ~~$37,604~~the ~~per~~Company. ~~Yucca~~On ~~Valley~~September ~~East~~19, ~~PPA.~~2013, Ifat closing, onRedwood orissued ~~before~~the ~~initial~~Redwood ~~operation,~~Debenture ~~Coronus demonstrates~~ to ~~SCE's satisfaction that it has installed all of~~ the ~~equipment~~Company. orOn ~~devices~~September ~~necessary~~19, 2013, ~~for~~at ~~Coronus~~closing, toThe ~~satisfy~~net ~~the~~present ~~gross~~value ~~power rating~~ of the ~~generating~~Redwood ~~facilities,~~Debenture ~~SCE~~was ~~shall~~$4,390,988 after ~~return~~adjusting ~~the~~for ~~Yucca~~an ~~Valley~~imputed ~~East~~annual ~~PPA~~discount ~~Development~~rate ~~Securities~~of to12% ~~Coronus~~and ~~within~~probability ~~thirty days~~ of success ~~each~~ratio ~~facility’s~~ranging ~~initial~~from ~~operation.~~25% Onto ~~September 27~~80%, ~~2012,~~per ~~Coronus~~solar ~~paid~~PV ~~the Yucca Valley East PPA Development Securities~~project.

~~-13-~~The maturity date of the Redwood Debenture is February 15, 2015.

~~Table~~Note of11 ~~Contents~~– Debenture Receivable - Continued

~~CORONUS~~As ~~SOLAR~~of ~~INC~~September 30, 2013, the net present value of the Redwood Debenture was $4,366,554 after adjusting for the cash received of $10,000, price adjustments on closing of $30,313 and imputed interest income of $15,880. The fair value of debenture receivable is preliminary and is subject to change in future period due to possible adjustments in the valuation assumptions.

~~(A Development Stage Enterprise)~~-18-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~(Expressed~~Note in12 ~~U.S.~~– ~~Dollars)~~Stockholders’ Equity

~~Period~~(a) ~~Ended~~Common ~~June~~Stock ~~30, 2013~~

~~Note~~On 8December –5, ~~Assets~~2001, ~~Held~~the Company (i) issued 6,750,000 common shares for ~~Sale~~cash -to ~~Continued~~the founder and sole director of the Company at $0.0002 per share; (ii) issued 75,000 common shares for service to a party related to the founder of the Company at $0.0525 per share; and (iii) issued 300,000 common shares for cash to the sole director of the Company pursuant to a private placement at $0.0525 per share. The Company recorded the 6,750,000 shares issued to the founder at fair value at $0.0525 per share and recorded a stock based compensation of $352,337.

For the fiscal year ended March 31, 2003, the Company issued (bi) ~~Development~~235,294 ~~security~~units ~~deposit~~for -cash ~~Continued~~at $0.055 per unit for total proceeds of $12,916; (ii) issued 500,004 common shares for cash at $0.0725 per share for total proceeds of $36,326; (iii) issued 235,294 common shares upon the exercise of warrants for cash at $0.055 per share for total proceeds of $12,916; and (iv) issued 22,222 common shares for the settlement of debt at $0.0725 per share for the total debt of $1,615. In connection with the above unit issuance, each unit consisted of one common share and one share purchase warrant with an exercise price at $0.055 per share. The Company adopted the residual approach and allocated the total proceeds to the common shares and $nil to the share purchase warrants.

For the fiscal year ended March 31, 2004, the Company (~~iii~~i) issued ~~Power~~500,006 ~~Purchase~~common ~~Agreement~~shares for ~~Project~~cash ~~Coronus~~at ~~Yucca~~$0.0835 ~~Valley~~per ~~East~~share 3for total proceeds of $41,644; and (ii) issued 66,666 common shares for the settlement of the debt at $0.0835 for the total debt of $5,552.

OnFor ~~January 15, 2013 (~~the ~~“Yucca~~fiscal ~~Valley~~year ~~East~~ended 3March ~~PPA Effective Date”)~~31, ~~Coronus’ wholly-owned subsidiary~~2005, ~~Coronus Yucca Valley East 3 LLC entered into a Power Purchase Agreement (~~the ~~“Yucca~~Company ~~Valley East 3 PPA”~~(i) issued ~~with~~1,200,000 ~~SCE.~~units ~~The Yucca Valley East 3 PPA relates to Coronus’ application~~ for ~~interconnection~~cash ~~service~~at ~~and~~$0.039 ~~the~~per ~~CREST~~unit ~~tariff~~ for atotal ~~third~~proceeds ~~1.5~~of $47,054; MWand ~~solar PV power system~~ (~~the~~ii) ~~“Yucca~~issued ~~Valley~~1,910,000 ~~East~~common 3shares ~~Project”)~~for oncash ~~the~~at 34$0.07039 ~~acre~~per ~~parcel~~share for oftotal ~~vacant~~proceeds ~~land~~of $74,895. ~~situated~~Each ~~east~~unit consisted of ~~Yucca~~one ~~Valley,~~common inshare ~~the~~and ~~County~~one share ofpurchase ~~San~~warrant ~~Bernardino,~~with ~~California~~an ~~(the~~exercise ~~“Yucca~~price ~~Valley~~at ~~East~~$0.039 ~~Property”),~~per ~~Coronus~~share. ~~acquired~~The onCompany adopted ~~August~~the ~~17,~~residual ~~2012,~~approach and onallocated the ~~adjacent~~total 20proceeds ~~acre~~to ~~parcel~~the ofcommon stocks ~~vacant~~and ~~land,~~$nil ~~Coronus agreed~~ to ~~acquire~~the onshare ~~March~~purchase ~~28,~~warrants ~~2013.~~

For the fiscal year ended March 31, 2006, the Company (~~iii~~i) issued ~~Power~~300,000 ~~Purchase~~common ~~Agreement~~shares at $0.042 per share pursuant to the exercise of warrants for ~~Project~~total ~~Coronus~~proceeds ~~Yucca~~of ~~Valley~~$12,578; ~~East~~and 3(ii) -issued ~~Continued~~395,600 common shares at $0.042 per share for the settlement of debt of $16,586.

~~The~~For ~~Yucca Valley East 3 PPA is a standardized, must-take, full buy/ sell, power purchase agreement, where SCE purchases all of~~ the ~~Yucca~~fiscal ~~Valley~~year ~~East~~ended 3March ~~Project’s generation~~31, ~~net of station use. The term of the Yucca Valley East 3 PPA is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent~~2007, ~~and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in~~ the ~~Yucca~~Company ~~Valley East 3 PPA. Initial operation of the Yucca Valley East 3 Project must be no later than eighteen months from the Yucca Valley East 3 PPA Effective Date. The Yucca Valley East 3 PPA includes~~issued 1, ~~but is not limited to~~000,000 ~~provisions~~common inshares ~~respect~~for ofcash ~~termination,~~at facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East 3 PPA Effective Date, Coronus was required to post and maintain a development fee (the “Yucca Valley East 3 PPA Development Security”) equal to $~~37,604~~0.044 ~~If,~~per onshare ~~or before initial operation, Coronus demonstrates to SCE's satisfaction that it has installed all of the equipment or devices necessary~~ for ~~Coronus~~total toproceeds ~~satisfy the gross power rating~~ of ~~the generating facility~~ $43, ~~SCE shall return the Yucca Valley East 3 PPA Development Security to Coronus within thirty days of the facility’s initial operation~~948. ~~On February 14, 2013, Coronus posted the Yucca Valley East 3 PPA Development Security.~~

~~(iv)~~For ~~Power~~the ~~Purchase~~fiscal ~~Agreements~~year ~~for~~ended ~~Projects~~March ~~Coronus~~31, ~~Joshua~~2008, ~~Tree~~the ~~East~~Company 1issued 52,500 2,common 3,shares 4at ~~and~~$0.0485 5per share for the settlement of debt of $2,548.

~~On December 7, 2012 (the “Joshua Tree East PPAs Effective Date”), Coronus’ wholly~~-owned subsidiaries, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, and Coronus Joshua Tree East 5 LLC, entered into five identical Power Purchase Agreements (the “Joshua Tree East PPAs”) with SCE. The Joshua Tree East PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for five 1.5 MW solar PV power systems (the “Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects”) on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California (the “Joshua Tree East Property”), Coronus acquired on June 30, 2011.19-

~~-14-~~CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~Table~~Note of12 ~~Contents~~– Stockholders’ Equity - Continued

~~CORONUS~~(a) ~~SOLAR~~Common ~~INC.~~Stock - Continued

(AOn ~~Development~~November ~~Stage~~2, ~~Enterprise)~~2009, the Company issued 2,000,000 common shares in connection with the acquisition of all the issued and outstanding shares of Coronus at a deemed value of $0.025 per share. These shares were recorded, proportionately with the shares transferred by Mr. Jeff Thachuk to Mr. Mark Burgert, based on the fair value of the assets acquired.

~~Notes~~On January 21, 2011, the Company completed a non-brokered private placement, issuing 212,500 shares of common stock to ~~Consolidated~~eleven ~~Financial~~investors, at ~~Statements~~a price of CAD$0.402 per share, for gross proceeds of CAD$85,000. In connection with the completion of the private placement, the Company paid CAD$7,500 in finder’s fees in cash, to certain arm’s length parties, and CAD$6,807 in legal, accounting, transfer agent and filing fees.

On March 31, 2011, the Company and its wholly-owned subsidiary, Coronus Energy Corp. (~~Expressed~~“Coronus”), inentered Uinto a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc.S (“Belectric”). ~~Dollars~~Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a deemed value of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress.

~~Period~~On ~~Ended~~May ~~June~~10, 302011, ~~2013~~the Company completed a non-brokered private placement of 350,000 units at a price of CAD $0.60 per unit for proceeds of CAD $210,000. Each unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$90,000 ($93,652).

~~Note~~On 8October –24, ~~Assets~~2011, ~~Held~~the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for ~~Sale~~gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable ~~Continued~~share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$4,470 ($4,452).

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (bPV) ~~Development~~power ~~security~~systems ~~deposit~~(the “Solar -Power ~~Continued~~Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011 [see Note 8]. Under the amended agreement (the “Amended Solar Power Systems Agreement”), 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, at the deemed price of $1.05 per share. The fair value per share at the date of cancellation was $0.60.

~~(iv)~~As ~~Power~~at ~~Purchase~~September ~~Agreements~~30, ~~for~~2013, ~~Projects~~10,226,900 ~~Coronus~~(March ~~Joshua~~31, ~~Tree~~2013: 10,226,900) ~~East~~shares 1,of 2,the 3,Company’s 4common ~~and~~stock 5were -restricted ~~Continued~~shares.

~~The Joshua Tree East PPAs are standardized, must~~-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects’ generation, net of station use. The term of the Joshua Tree East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Joshua Tree East PPAs. Initial operation of the Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects must be no later than eighteen months from the Joshua Tree East PPAs Effective Date. The Joshua Tree East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Joshua Tree East PPAs Effective Date, Coronus was required to post and maintain development fees (the “Joshua Tree East PPAs Development Securities”) equal to $36,736 per Joshua Tree East PPA. If, on or before initial operation, Coronus demonstrates to SCE's satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the Joshua Tree East PPAs Development Securities to Coronus within thirty days of each facility’s initial operation. On January 4, 2013, Coronus paid the Joshua Tree East PPAs Development Securities.-

CORONUS SOLAR INC. (vA Development Stage Enterprise) ~~Power~~Notes ~~Purchase~~to ~~Agreements~~Consolidated ~~for~~Financial ~~Projects~~Statements (Expressed ~~Coronus~~in ~~Apple~~U.S. ~~Valley~~Dollars) ~~East~~Period 1Ended ~~and~~September 230, 2013

OnNote ~~December~~12 7,– ~~2012 (the “Apple Valley East PPAs Effective Date”), Coronus~~Stockholders’ ~~wholly-owned~~Equity subsidiaries, Coronus Apple Valley East 1 LLC and Coronus Apple Valley East 2 LLC, entered into two identical Power Purchase Agreements (the “Apple Valley East PPAs”) with SCE. The Apple Valley East PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Apple Valley East 1 and Apple Valley East 2 Projects”) on the 14.78 and 8.91 acre parcels of vacant land, adjacent to one another, situated east of Apple Valley, in the County of San Bernardino, California [the “Apple Valley East Re-~~Site~~ ~~(Nguyen)~~Continued ~~Property” and the “Apple Valley East Re-Site (McGee) Property”, respectively], Coronus acquired on January 7 and March 5, 2013, respectively.~~

~~-15-~~(b) Stock Options

~~Table~~Since ofinception, ~~Contents~~the Company has entered into various stock option agreements with its directors, employees and consultants.

~~CORONUS~~During ~~SOLAR~~the ~~INC~~period ended September 30, 2013 and year ended March 31, 2013, there were no options granted or exercised.

(AChanges ~~Development~~in ~~Stage~~stock ~~Enterprise)~~options for the period ended September 30, 2013 and year ended March 31, 2013 are summarized as follows:

Notes to Consolidated Financial Statements

	Options Outstanding
				Weighted average
	Number of			exercise
	shares			price

Balance, March 31, 2012	745,000		$	0.065
Expired	(5,000	)		0.105
Balance, March 31, 2013 and September 30, 2013	740,000		$	0.065

~~(Expressed~~The inCompany ~~U.S.~~has ~~Dollars)~~the following options outstanding and exercisable at September 30, 2013:

Period Ended June 30, 2013

Outstanding

Exercisable

Weighted

Number

Average

Weighted

Number

Weighted

Outstanding at

Remaining

Average

Exercisable at

Average

September 30,

Contractual

Exercise

September 30,

Exercise

2013

Life (Years)

Price

2013

Price

740,000

2.15

0.065

740,000

0.065

~~Note~~The 8Company –has ~~Assets~~the ~~Held~~following ~~for~~options ~~Sale~~outstanding -and exercisable ~~Continued~~at March 31, 2013:

(b) Development security deposit - Continued

Outstanding

Exercisable

Weighted

Number

Average

Weighted

Number

Weighted

Outstanding at

Remaining

Average

Exercisable at

Average

March 31,

Contractual

Exercise

March 31,

Exercise

2013

Life (Years)

Price

2013

Price

740,000

2.65

0.065

740,000

0.065

~~(v) Power Purchase Agreements for Projects Coronus Apple Valley East 1 and 2~~ - ~~Continued~~21-

~~The~~CORONUS ~~Apple~~SOLAR Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Apple Valley East 1 and Apple Valley East 2 Projects’ generation, net of station useINC. ~~The~~(A ~~term~~Development ofStage Enterprise) ~~the~~Notes ~~Apple Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according~~ to ~~SCE’s~~Consolidated ~~time~~Financial ofStatements (Expressed ~~delivery periods and energy allocation factors, as scheduled~~ in ~~the Apple Valley East PPAs~~U. ~~Initial operation of the Apple Valley East 1 and Apple Valley East 2 Projects must be no later than eighteen months from the Apple Valley East PPAs Effective Date~~S. The Apple Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Apple Valley East PPAs Effective Date, Coronus was required to post and maintain development fees (the “Apple Valley East PPAs Development Securities”Dollars) ~~equal~~Period toEnded ~~$38,850~~September ~~per Apple Valley East PPA. If~~30, on or before initial operation, Coronus demonstrates to SCE's satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the Apple Valley East PPAs Development Securities to Coronus within thirty days of each facility’s initial operation. On January 4, 2013~~, Coronus paid the Apple Valley East PPAs Development Securities.~~

~~(vi)~~Note ~~Power~~12 ~~Purchase~~– ~~Agreements~~Stockholders’ ~~for~~Equity ~~Projects~~- ~~Coronus~~Continued ~~Adelanto West 1 and 2~~

~~On January 15, 2013~~ (~~the “Adelanto West PPAs Effective Date”~~c), ~~Coronus’~~Warrants wholly-owned subsidiaries, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, entered into two identical Power Purchase Agreements (the “Adelanto West PPAs”) with SCE. The Adelanto West PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Adelanto West 1 and Adelanto West 2 Projects”) on the 40 acre parcel of vacant land, situated in the City of Adelanto, California (the “Adelanto West Property”), Coronus acquired on April 19, 2012.

~~The~~On ~~Adelanto~~May ~~West PPAs are standardized~~10, ~~must-take~~2011, ~~full~~the ~~buy/~~Company ~~sell,~~completed ~~power~~a ~~purchase~~non-brokered ~~agreements~~private placement, ~~where~~issuing ~~SCE~~350,000 ~~purchases~~units ~~all of~~ (the ~~Adelanto West 1 and Adelanto West 2 Projects’ generation~~“Units”), ~~net~~at ofa ~~station~~price ~~use. The term~~ of ~~the Adelanto West PPAs is 20 years~~CAD$0.60 ~~The~~per ~~price SCE pays~~ Unit, for ~~the~~proceeds ~~generation~~of ~~shall be premised on the adopted 2011 Market Price Referent~~CAD$210,000. ~~and~~Each ~~shall~~Unit bewas ~~adjusted~~comprised ~~according to SCE’s time~~ of ~~delivery~~one ~~periods~~common ~~and~~share ~~energy allocation factors, as scheduled~~ in the capital ~~Adelanto West PPAs. Initial operation~~ of the ~~Adelanto~~Company ~~West 1~~ and ~~Adelanto~~one ~~West~~non-transferrable 2share ~~Projects~~purchase ~~must be no later than eighteen months from the Adelanto West PPAs Effective Date~~warrant. ~~The~~Each warrant ~~Adelanto~~entitles ~~West PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before~~ the ~~thirtieth~~holder ~~day~~thereof ~~following the Adelanto West PPAs Effective Date, Coronus was required~~ to ~~post~~purchase ~~and~~a ~~maintain~~further ~~development~~common ~~fees~~share ~~(the~~at ~~“Adelanto~~an exercise ~~West~~price ~~PPAs~~of ~~Development Securities”) equal to~~ CAD$~~37,604 per Adelanto West PPA~~0.75 ~~If,~~for ona orperiod ~~before initial operation, Coronus demonstrates to SCE's satisfaction that it has installed all~~ of ~~the~~five ~~equipment~~years. orThe ~~devices~~Company ~~necessary for Coronus to satisfy~~ determined the ~~gross~~fair ~~power~~value ~~rating~~ of the ~~generating~~warrants ~~facilities, SCE shall return the Adelanto West PPAs Development Securities~~ to ~~Coronus~~be ~~within thirty days of each facility’s initial operation~~$0.257 Onper ~~February~~warrant ~~14,~~using ~~2013, Coronus paid~~ the ~~Adelanto~~Black-Scholes option ~~West~~pricing ~~PPAs Development Securities~~model.

On October 24, 2011, the Company completed a non-16brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.263 per warrant using the Black-Scholes option pricing model.

~~Table~~On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of ~~Contents~~CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be CAD$0.7816 per warrant using the Black-Scholes option pricing model.

~~CORONUS~~The ~~SOLAR~~relative ~~INC~~estimated fair value of the warrants in relation to the private placements in May 2011, October 2011, and February 2012 were CAD$90,000 (USD$90,628), CAD$4,470 (USD$4,501), and CAD$56,571 (USD$56,966), respectively, and were allocated to the additional paid-in capital.

During the period ended September 30, 2013 and year ended March 31, 2013, the Company did not issue any warrants. At September 30, 2013, 533,666 (AMarch ~~Development~~31, ~~Stage~~2013: ~~Enterprise~~533,666) warrants remained outstanding.

~~Notes to Consolidated Financial Statements~~-22-

CORONUS SOLAR INC. (A Development Stage Enterprise) Notes to Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~Period~~Note ~~Ended~~12 ~~June~~– ~~30,~~Stockholders’ ~~2013~~Equity - Continued

~~Note~~(c) 8Warrants ~~– Assets Held for Sale~~ - Continued

~~(b)~~The ~~Development~~Company ~~security~~has ~~deposit~~the -following ~~Continued~~warrants outstanding at September 30, 2013:

Provided the projects are entitled, all of the aforementioned projects are estimated to be online within one and one-half years.

								Exercise	Average
Balance	Issued	Exercised	Cancelled	Balance		Exercise		price	Remaining
as at	during the	during the	during the	as at		price		(USD	Contractual
2013-03-31	period	period	period	2013-09-30		(CAD)		equivalent)	Life in Years

350,000	-	-	-	350,000	$	0.75	$	0.77	2.61
17,000	-	-	-	17,000		0.75		0.77	3.07
166,666	-	-	-	166,666		0.75		0.77	3.35
533,666	-	-	-	533,666	$	0.75	$	0.77	2.85

~~(c)~~The ~~Land~~Company has the following warrants outstanding at March 31, 2013:

(i) Newberry Springs

								Exercise	Average
Balance	Issued	Exercised	Cancelled	Balance		Exercise		price	Remaining
as at	during the	during the	during the	as at		price		(USD	Contractual
31/03/2012	period	period	period	31/03/2013		(CAD)		equivalent)	Life in Years

350,000	-	-	-	350,000	$	0.75	$	0.75	3.11
17,000	-	-	-	17,000		0.75		0.75	3.57
166,666	-	-	-	166,666		0.75		0.75	3.85
533,666	-	-	-	533,666	$	0.75	$	0.75	3.37

~~Such represents a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California.~~ The ~~purchase~~warrants ~~price~~are ~~was $45,000. At this point in time, the Company has opted~~ not toa ~~pursue~~derivative ~~interconnection agreements for solar PV power systems sited on this parcel~~instrument.

~~(ii)~~Note ~~29-Palms~~13 ~~North~~– Contingent Liabilities

OnManagement ~~January~~of ~~23,~~the ~~2011,~~Company ~~Coronus~~has ~~entered~~opted ~~into~~for ~~a Vacant Land Purchase Agreement (~~the ~~“29-Palms~~Company ~~North Agreement”)~~ to ~~acquire a 39.25 acre parcel of vacant land, situated north of 29~~ self-~~Palms,~~insure inagainst ~~the~~business ~~County~~and ofliability ~~San~~risks ~~Bernardino,~~rather ~~California.~~than ~~The~~ purchase ~~price~~third party ~~was~~insurance ~~$40,000~~coverage. ~~The~~Consequently ~~transaction closed on May 16, 2011. At this point in time,~~ the Company ~~has~~is ~~opted~~exposed ~~not~~ to ~~pursue~~financial losses ~~interconnection~~or ~~agreements~~failure ~~for~~as ~~solar~~a PVresult ~~power~~of ~~systems~~these ~~sited on this parcel~~risks.

~~(d)~~Note ~~Project~~14 ~~Assets~~– Related Party Transactions

~~Project~~During ~~assets~~the ~~consisted~~three ofmonths ~~the~~and ~~following~~six atmonths ~~June~~ended September 30, 2013, the Company paid $nil (2012: $nil) and ~~March~~$291 31(2012: $300) in director fees to the directors of the Company, ~~2013:~~respectively.

	June 30, 2013						March 31, 2013
				Project						Project
				development						development
		Land		costs		Total		Land		costs		Total
Joshua Tree East	$	241,350	$	364,800	$	606,150	$	226,579	$	364,800	$	591,379
Adelanto West		436,100		74,920		511,020		420,738		74,920		495,658
Yucca Valley East		210,867		269,670		480,537		189,769		179,780		369,549
29-Palms North Re-Site		417,657		908,850		1,326,507		405,649		908,850		1,314,499
Apple Valley East Re-Site (Nguyen & McGee)		417,995		303,800		721,795		403,035		303,800		706,835
	$	1,723,969	$	1,922,400	$	3,646,009	$	1,645,770	$	1,832,150	$	3,477,920

During the three months and six months ended September 30, 2013, $15,405 (2012: $25,128) and $39,976 (2012: $50,241) of compensation were paid to a director and shareholder, respectively.

~~Land~~-23-

CORONUS SOLAR INC. (iA Development Stage Enterprise) ~~Joshua~~Notes ~~Tree~~to ~~East~~Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

OnNote ~~May~~14 9,– ~~2011,~~Related ~~Coronus~~Party ~~entered~~Transactions ~~into~~- aContinued Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”) to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The purchase price was $200,000. The transaction closed on June 30, 2011.

~~-17-~~As at September 30, 2013, included in accounts payable, $86 (March 31, 2013: $3,380) was owed to directors and/or principals of the Company.

~~Table~~Other ofrelated ~~Contents~~party transactions

~~CORONUS~~(i) ~~SOLAR~~Earthlight ~~INC.~~Consultancy

On December 26, 2012, effective January 1, 2013, Coronus agreed to engage Earthlight Solar Inc. (A“Earthlight”) to provide Coronus with advisory and consulting services (the “Services”) in respect of Coronus’ solar photovoltaic business. Mark Burgert, a control person of the Company, is the president and a control person of Earthlight. Under this engagement, Coronus paid Earthlight $8,000 per month (the “Fee”) for the Services, with the Fee due and payable at the end of each month. Effective September 1, 2013, Coronus and Earthlight terminated this engagement, but with the Company re-engaging Earthlight as a consultant (the “Current Earthlight Engagement”), with Earthlight providing the Company with advisory and consulting services (the “Current Earthlight Services”) in respect of the Company’s solar PV business. Under the Current Earthlight Engagement, as amended, the Company is to pay Earthlight CAD$10,000 per month for the Current Earthlight Services up to November 30, 2013. Effective December 1, 2013, the Company is to pay Earthlight 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development ~~Stage~~Services ~~Enterprise~~Agreement (see Note 8). During the three months and six months ended September 30, 2013, the Company paid $25,700 (2012: $nil) and $49,700 (2012: $nil) to Earthlight, respectively.

~~Notes~~(ii) toRenewTrek ~~Consolidated~~Consultancy ~~Financial Statements~~

Effective September 1, 2013, the Company engaged RenewTrek Solar Inc. (~~Expressed~~“RenewTrek”) as a consultant (the “RenewTrek Engagement”), with RenewTrek providing the Company with advisory and consulting services (the “RenewTrek Services”) in Urespect of the Company’s solar PV business.S Under the RenewTrek Engagement, as amended, the Company is to pay RenewTrek CAD$10,000 per month for the RenewTrek Services up to November 30, 2013. ~~Dollars~~Effective December 1, 2013, the Company is to pay RenewTrek 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement (see Note 8). Jeff Thachuk, the Company’s president, principal executive officer, secretary, treasurer, principal financial officer, principal accounting officer, and a member of the Company’s board of directors, is the president and a control person of RenewTrek. Prior to the RenewTrek Engagement, the Company paid Mr. Thachuk CAD$8,000 per month to serve as the Company’s principal executive officer. Effective September 1, 2013, Mr. Thachuk no longer receives this salary, but continues to serve as the Company’s principal executive officer. On September 1 and November 4, 2013, the Company’s board of directors approved the RenewTrek Engagement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the RenewTrek Engagement. During the three months and six months ended September 30, 2013, the Company paid $9,700 (2012: $nil) and $9,700 (2012: $nil) to RenewTrek, respectively.

~~Period Ended June 30, 2013~~-24-

~~Note~~CORONUS 8SOLAR –INC. ~~Assets~~(A ~~Held~~Development ~~for~~Stage Enterprise) ~~Sale~~Notes -to ~~Continued~~Consolidated Financial Statements (Expressed in U.S. Dollars) Period Ended September 30, 2013

~~(d)~~Note ~~Project~~15 ~~Assets~~– -Commitments ~~Continued~~

~~Land~~(i) -Consulting ~~Continued~~services

See Note 14(iii). ~~Adelanto West~~

OnSee ~~September~~Note ~~23, 2011, Coronus entered into a Vacant Land Purchase Agreement~~ 14(~~the “Adelanto West Agreement”~~ii) ~~to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California~~. ~~The purchase price was $400,000. The transaction closed on April 19, 2012.~~

~~(iii)~~Note ~~Yucca~~16 ~~Valley~~– ~~East~~Comparative Figures

OnCertain ~~October~~figures 9,for ~~2011,~~the ~~Coronus~~prior ~~entered~~period ~~into~~have abeen ~~Vacant~~reclassified ~~Land~~to conform ~~Purchase Agreement (the “Yucca Valley East Agreement”)~~ to ~~acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in~~ the ~~County~~current ofperiod ~~San~~consolidated ~~Bernardino,~~financial ~~California.~~statements ~~The purchase price was $170,000~~presentation. ~~The transaction closed on August 17, 2012.~~

~~(iv)~~Note ~~29-Palms~~17 ~~North~~– ~~Re-Site~~Subsequent Events

On ~~December~~November 64, ~~2012~~2013, ~~Coronus~~the ~~entered~~parties ~~into~~amended athe ~~Vacant~~Earthlight Consultancy ~~Land~~[see ~~Purchase~~Note ~~Agreement~~ 14(~~the~~i)]. ~~“29-Palms~~Under ~~North~~the ~~Re-Site~~Current ~~Agreement”).~~Earthlight ~~Under~~Engagement, as amended, the ~~29-Palms~~Company ~~North~~is ~~Re-Site~~to ~~Agreement~~pay Earthlight CAD$10,000 ~~Coronus~~per ~~agreed~~month for the Current Earthlight Services up to ~~acquire~~November a30, ~~160~~2013. ~~acre~~Effective ~~parcel~~December 1, 2013, the Company is to pay Earthlight 10% of ~~vacant~~the ~~land,~~cash ~~situated~~value ~~north~~received of ~~29-Palms~~the Redwood Debenture, in ~~the~~return ~~County~~for performing those certain development services in respect of ~~San~~the ~~Bernardino~~twelve anticipated, ~~California.~~utility-scale, ~~The~~solar ~~purchase~~PV ~~price~~projects ~~was~~under ~~$400,000.~~the Share ~~The~~Purchase ~~transaction~~and ~~closed~~Development onServices ~~December~~Agreement ~~28,~~(see ~~2012~~Note 8).

On November 4, 2013, the parties amended the RenewTrek Consultancy [see Note 14(vii)]. ~~Apple~~Under ~~Valley~~the ~~East~~RenewTrek ReEngagement, as amended, the Company is to pay RenewTrek CAD$10,000 per month for the RenewTrek Services up to November 30, 2013. Effective December 1, 2013, the Company is to pay RenewTrek 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-~~Site~~scale, ~~(Nguyen)~~solar PV projects under the Share Purchase and Development Services Agreement (~~McGee~~see Note 8).

~~On December 8, 2012, Coronus entered into a Vacant Land Purchase Agreement [the “Apple Valley East Re~~-Site Agreement (Nguyen)”] to acquire a 14.78 acre parcel of vacant land, situated east of Apple Valley, in the County of San Bernardino, California. The purchase price was $300,000. The transaction closed on January 7, 2013.25-

OnITEM ~~February 8, 2013, Coronus entered into a Vacant Land Purchase Agreement [the “Apple Valley East Re-Site Agreement (McGee)”] to acquire a 8~~2.91 ~~acre~~MANAGEMENT’S ~~parcel~~DISCUSSION ofAND ~~vacant~~ANALYSIS ~~land,~~OF ~~situated~~FINANCIAL ~~east~~CONDITION ofAND ~~Apple~~RESULTS ~~Valley,~~OF ~~in the County of San Bernardino, California~~OPERATIONS. ~~The purchase price was $100,000. The transaction closed on March 5, 2013.~~

~~Project~~ This ~~developments~~section ~~costs~~of the quarterly report on Form 10-Q includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this quarterly report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

~~(i)~~Plan ~~Initial Posting~~ of ~~Interconnection~~Operation ~~Financial Security for Project Coronus 29-Palms North 1~~

OnEstimates ~~December~~and 3,Assumptions 2012, pursuant to the SCE interconnection request for solar PV project Coronus 29-Palms North 1, Coronus posted with SCE the initial interconnection financial security, in the amount of $29,500. This amount was determined by the results of the combined SIS/FAS study SCE commenced with Coronus on June 16, 2011.

~~-18-~~ The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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 the estimates.

~~Table~~Trends ofAffecting ~~Contents~~Our Business

~~CORONUS~~ In the ~~SOLAR~~past ~~INC~~four and one-half years, solar module prices have been reduced by more than half, due to the impact of the global economic downturn, reduced silicon prices, increased polysilicon supply, and a general oversupply of solar modules on the market. Although we expect solar module prices to stay at current levels, or continue to decline, but not as drastically, a rebound in solar module prices would materially impact the viability of our business model, possibly rendering our model nonviable.

(ARegulatory ~~Development~~Risk ~~Stage Enterprise)~~

~~Notes~~ On June 12, 2013, the San Bernardino County Board of Supervisors approved a 45-day temporary moratorium on approval of commercial solar energy generation projects. The purpose of the moratorium is to ~~Consolidated~~prevent ~~Financial~~establishment ~~Statements~~of commercial solar energy generation projects that may be incompatible with existing land uses, while the County contemplate potential amendments to the Development Code for the purpose of ensuring and enhancing compatibility between solar energy generation projects and surrounding land uses. Coronus projects 29-Palms North, Yucca Valley East, Joshua Tree East, Apple Valley East, and 29-Palms Morongo are subject to the moratorium. Coronus project Adelanto West is not. The moratorium may be extended by further action of the Board of Supervisors, initially for ten months and 15 days and then again for one year.

~~(Expressed~~ On July 23, 2013, the Board of Supervisors extended the moratorium for 10 months and 15 days, but said they hoped to put new regulations in Uplace and lift the ban sooner than that.S San Bernardino County Land Use Services Department Planning Director Terri Rahhal said the planners are working with a consultant and hope to return to the Board of Supervisors in three to six months with new regulations that would include location criteria, design standards and rules for processing applications. ~~Dollars)~~The Board of Supervisors could lift the moratorium at that time.

~~Period~~ On October ~~Ended~~17, ~~June~~2013, 30in respect of the moratorium, ~~2013~~the San Bernardino County Land Use Services Department presented a proposed ordinance amending the Development Code to the San Bernardino County Planning Commission, to establish required findings when considering approval of commercial solar energy generation facilities, to guide the appropriate siting of these facilities to protect sensitive natural resources, safeguard existing and future neighborhoods and rural residential uses, and promote a vibrant tourist economy. The Planning Commission recommended approval, but with final action by the Board of Supervisors.

~~Note~~ As a 8consequence –of ~~Assets~~the ~~Held~~moratorium extension, Coronus Energy Corp. (“Coronus”), our previously owned, wholly-owned subsidiary, formally withdrew its SCE interconnection requests for ~~Sale~~Coronus solar photovoltaic (“PV”) systems 29-Palms ~~Continued~~North 2 and 3. Additionally, as a consequence of the moratorium extension, Coronus also put a formal request to SCE to terminate the CREST power purchase agreements in respect of these two projects. There is no assurance the outcome of the moratorium, or delay arising therefrom, will not materially and adversely affect those Coronus projects subject to the moratorium. Nor is there any assurance the presence of the moratorium will not limit our ability to access the capital markets to meet liquidity and capital expenditure requirements. As a consequence of the moratorium, we have assigned a probability of success ratio ranging from 25% to 80%, per solar PV system, in respect of those systems and related projects subject to the moratorium.

~~(d) Project Assets~~ -26- ~~Continued~~

~~Project~~Plan ~~developments~~of ~~costs~~Operation -for ~~Continued~~the Next Twelve Months

On August 9, 2013, we and Coronus Energy Corp. (ii“Coronus”), ~~Initial~~our ~~Posting~~previously ofowned, wholly-owned ~~Interconnection~~subsidiary, ~~Financial~~entered ~~Security~~into ~~for~~a ~~Projects~~share ~~Coronus~~purchase ~~29-Palms~~and ~~North~~development 2services agreement (the “Share Purchase and 3Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”). On September 19, 2013, the parties closed on the Share Purchase and Development Services Agreement.

On December 2620, 2012, ~~pursuant~~Coronus toand ~~the Southern California Edison (“SCE”) interconnection requests for solar PV projects~~ Coronus’ 29wholly-~~Palms~~owned ~~North 2 and 3~~subsidiaries, ~~Coronus~~conducted ~~posted~~a non-brokered ~~with~~private ~~SCE the initial interconnection financial securities~~placement, inissuing ~~the~~a ~~amounts~~senior ~~of $373~~secured,~~300~~ ~~and~~promissory ~~$208,900,~~note ~~respectively. The posting amount for~~ (the “Note”) ~~Coronus~~to ~~29-Palms~~Clean ~~North~~Focus 2Financing ~~project~~Company, ~~was~~LP ~~determined~~(“Clean ~~by the results of the combined SIS/FAS study SCE commenced with Coronus on June 16~~Focus”), ~~2011. The posting amount~~ for ~~the~~proceeds ~~Coronus 29-Palms North 3 project was determined by the results~~ of ~~the~~up to ~~combined SIS/FAS study SCE commenced with Coronus on February 29~~$4,000,000 ~~2012~~(the “Loan”).

Under the Share Purchase and Development Services Agreement, we agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar photovoltaic (~~iii~~“PV”) ~~Initial~~projects ~~Posting~~ of ~~Interconnection~~Coronus, ~~Financial~~which ~~Security~~held Power Purchase Agreements under the CREST Program, for ~~Projects~~$8,775,000 ~~Coronus~~(the ~~Apple~~“Contract Price”). ~~Valley~~Redwood ~~East~~was 1to ~~and~~pay 2the Contract Price by issuing a non-interest bearing, secured debenture (the “Redwood Debenture”) to us. On September 19, 2013, at closing, Redwood issued the Redwood Debenture to us.

On In respect ~~December~~of 27the Contract Price, ~~2012~~and related Redwood Debenture, ~~pursuant~~we recorded a gain of $3,420,612. The gain relates to the ~~SCE~~net ~~interconnection~~present ~~requests~~value ~~for~~of ~~solar~~the PVsales ~~projects~~proceeds of ~~Apple~~the ~~Valley~~Coronus ~~East~~sale 1to ~~and 2~~Redwood, ~~Coronus~~according ~~posted~~to ~~with~~projected ~~SCE~~collection ~~the~~dates ~~initial~~after adjusting ~~interconnection~~for ~~financial~~an ~~securities,~~imputed inannual ~~the~~discount ~~amounts~~rate of ~~$270,900~~12% and ~~$32,900,~~probability ~~respectively.~~of ~~The~~success ratio ~~posting~~ranging ~~amounts~~from ~~for~~25% ~~the~~to ~~Apple~~80%, ~~Valley~~per ~~East~~solar 1PV ~~and~~system, 2less ~~projects~~the ~~were~~net ~~determined~~book byvalue ~~the~~of assets ~~results~~sold ofand the ~~SIS~~additional ~~studies~~development ~~SCE~~costs ~~commenced~~of ~~with~~approximately ~~Coronus~~20% onof ~~May~~the proceeds 3,to ~~2012~~be incurred.

~~(iv~~ Our obligation to complete the sale was subject, in part, to 1) ~~Initial~~us ~~Posting~~receiving a release from Clean Focus in respect of ~~Interconnection~~any ~~Financial~~further ~~Security~~obligations ~~for~~under ~~Projects~~or ~~Coronus~~in connection ~~Joshua~~with ~~Tree~~the ~~East~~Loan; 1,and 2) the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than two-thirds of our shares. On September 19, 32013, 4at closing, we received the release from Clean Focus in respect of any further obligations under or in connection with the Loan. On September 16, 2013, at the annual general & special meeting of our shareholders (the “Shareholder Meeting”), we obtained the approval of the Share Purchase and 5Development Services Agreement by our shareholders holding not less than two-thirds of our shares.

On Redwood's obligation ~~January~~to 9,complete ~~2013~~the purchase was subject, ~~pursuant~~in part, to ~~the~~1) ~~SCE~~Redwood receiving ~~interconnection~~lock-up ~~requests~~agreements ~~for~~and ~~solar~~proxies PVfrom ~~projects~~our ~~Coronus~~shareholders ~~Joshua~~holding ~~Tree~~not ~~East~~less than 1,80% 2,of 3,our 4shares; and 5,2) ~~Coronus~~the ~~posted~~approval ~~with~~of ~~SCE~~ the ~~initial~~Share ~~interconnection~~Purchase ~~financial~~and Development ~~securities,~~Services inAgreement ~~the~~by ~~amounts~~our ofshareholders ~~$41,200,~~holding ~~$82,400,~~not ~~$41,200,~~less ~~$58,800~~than ~~and~~80% ~~$141,200,~~of our ~~respectively~~shares. ~~The~~Prior ~~posting~~to ~~amounts for~~ the ~~Joshua~~Shareholder ~~Tree~~Meeting, ~~East~~Redwood 1,received 2lock-up agreements and 3proxies ~~projects~~from ~~were~~twelve ~~determined~~of byour ~~the~~shareholders ~~results~~holding 80.6% of ~~the~~our shares. ~~SIS~~On ~~studies~~September ~~SCE~~16, ~~commenced~~2013, ~~with~~at ~~Coronus~~the onShareholder ~~February 23~~Meeting, ~~2012.~~we ~~The~~obtained ~~posting~~the approval ~~amounts~~of ~~for~~ the ~~Joshua~~Share ~~Tree~~Purchase ~~East 4~~ and 5Development ~~projects~~Services ~~were~~Agreement ~~determined~~ by ~~the~~our shareholders ~~results~~holding ofnot ~~the~~less ~~SIS~~than ~~studies~~80% ~~SCE~~of ~~commenced~~our ~~with Coronus on June 25, 2012~~shares.

~~(v)~~ At closing, ~~Second~~on ~~Posting~~the transfer of ~~Interconnection~~Coronus ~~Financial~~to ~~Security~~Redwood, ~~for~~all ~~Project~~then ~~Coronus~~outstanding ~~29-Palms~~advances under ~~North~~the 1Loan, together with all accrued but unpaid interest, were assumed as part of the transfer.

On The Contract ~~February~~Price, 1based on an agreed upon price of dollars per peak installed watt, ~~2013~~is the estimated final output capacity of the twelve anticipated, utility-scale, ~~pursuant~~solar toPV projects of Coronus, and is based on the ~~SCE~~aggregate ~~interconnection~~of the ~~request~~value ~~for~~of the installed solar PV ~~project~~systems ~~Coronus~~and ~~29-Palms~~the ~~North~~value 1of the development services to be performed by us. The payment of the Contract Price, ~~Coronus~~and ~~posted~~the corresponding ~~with~~retirement ~~SCE~~of the ~~second~~Redwood ~~interconnection~~Debenture, ~~financial~~is ~~security~~as follows: 1) $1,000 inwas paid to us on the ~~amount~~execution of the Share Purchase and Development Services Agreement; 2) $149,~~750.~~000 ~~This~~was ~~amount~~paid ~~was~~to ~~determined~~us byon closing on September 19, 2013; 3) after four solar PV systems have met certain conditions, inclusive of the ~~results~~receipt of conditional use permits, a payment of 5% of the ~~combined~~Contract ~~SIS/FAS~~Price, ~~study~~per ~~SCE~~solar ~~commenced~~PV system, shall be paid to us; and 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each ~~Coronus~~pro-rata portion paid to us on ~~June~~permanent ~~16,~~financial ~~2011~~close in connection with the construction of each system.

~~(vi)~~-27- ~~Initial Posting of Interconnection Financial Security for Projects Coronus Adelanto West 1 and 2~~

On Under the ~~February~~Share ~~14,~~Purchase ~~2013~~and Development Services Agreement, ~~pursuant~~the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the ~~SCE~~following ~~interconnection~~parameters: ~~requests~~installed ~~for~~capacity; ~~solar~~development PVexpense ~~projects~~budget true-up; interconnection refund true-up; and Coronus ~~Adelanto~~financial ~~West~~statements true-up. 1Under the Share Purchase and 2Development Services Agreement, ~~Coronus~~Redwood agrees ~~posted~~to ~~with~~fund, ~~SCE~~and the ~~initial~~Contract ~~interconnection~~Price ~~financial~~reflects ~~securities~~Redwood funding, incertain development ~~the~~expenses ~~amounts~~that ofare ~~$36,660~~separate and ~~$38,260,~~aside ~~respectively~~from the Contract Price. The Redwood ~~posting~~Debenture ~~amounts~~security ~~for~~interests ~~the~~received ~~Coronus~~by ~~Adelanto~~us ~~West~~are 1subordinate and 2junior to ~~projects~~the ~~were~~interests ~~determined~~securing by the ~~results~~Loan, ofas well as subordinate and junior to all future draws under the ~~SIS~~Loan ~~studies~~where ~~SCE~~the ~~commenced~~proceeds ~~with~~are ~~Coronus~~used onto ~~April~~fund ~~13,~~those ~~2012~~certain development expenses.

Effective September 1, 2013, we engaged Earthlight Solar Inc. (“Earthlight”) as a consultant (the “Earthlight Engagement”), with Earthlight providing us with advisory and consulting services (the “Earthlight Services”) in respect of our solar PV business. Under the Earthlight Engagement, we were to pay Earthlight CAD$10,000 per month for the Earthlight Services. Mark Burgert, a control person of us, is the president and a control person of Earthlight. On November 4, 2013, the parties amended the Earthlight Engagement (the “Amended Earthlight Engagement”). Under the Amended Earthlight Engagement, we are to pay Earthlight CAD$10,000 per month for the Earthlight Services up to November 30, 2013. Effective December 1, 2013, we are to pay Earthlight 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-~~19-~~scale, solar PV projects under the Share Purchase and Development Services Agreement.

~~Table~~ Effective September 1, 2013, we engaged RenewTrek Solar Inc. (“RenewTrek”) as a consultant (the “RenewTrek Engagement”), with RenewTrek providing us with advisory and consulting services (the “RenewTrek Services”) in respect of ~~Contents~~our solar PV business. Under the RenewTrek Engagement, we were to pay RenewTrek CAD$10,000 per month for the RenewTrek Services. Jeff Thachuk, our president, principal executive officer, secretary, treasurer, principal financial officer, principal accounting officer, and a member of our board of directors, is the president and a control person of RenewTrek. On September 1, 2013, our board of directors approved the RenewTrek Engagement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the RenewTrek Engagement. On November 4, 2013, the parties amended the RenewTrek Engagement (the “Amended RenewTrek Engagement”). Under the Amended RenewTrek Engagement, we are to pay RenewTrek CAD$10,000 per month for the RenewTrek Services up to November 30, 2013. Effective December 1, 2013, we are to pay RenewTrek 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the Amended RenewTrek Engagement.

~~CORONUS~~ Coronus project ~~SOLAR~~29-Palms ~~INC~~Morongo, a 1.5 MW ground-mount, fixed-tilt, solar PV project, is owned directly by us, through our wholly-owned subsidiary, Coronus 29-Palms Morongo LLC, and was not part of the Share Purchase and Development Services Agreement with Redwood. As all other Coronus solar PV projects were transferred to Redwood under the Share Purchase and Development Services Agreement, Coronus project 29-Palms Morongo is our sole remaining solar PV project under development. As we have completed a system impact utility study for this project, and we have secured the land for this project pursuant to an option to purchase, we are eligible to pursue a Power Purchase Agreement for this project under the Renewable Market Adjusting Tariff (“Re-MAT”). Formerly CREST, Re-MAT implements the renewable resource feed-in tariff program pursuant to California Public Utilities Code Section 399.20 and California Public Utilities Commission Decisions (D.) 12-05-035, D.13-01-041, and D.13-05-034.

(A In ~~Development~~addition ~~Stage~~to ~~Enterprise)~~the above, we are presently evaluating further vacant lands, ranging in size between 20 and 50 acres, for purchase, for solar project development.

~~Notes~~ Additionally, towe ~~Consolidated~~are ~~Financial~~presently ~~Statements~~evaluating corporate action options in respect of going private.

~~(Expressed~~-28- ~~in U.S. Dollars)~~

~~Period~~Results ~~Ended~~of ~~June~~Operations ~~30, 2013~~

~~Note~~Three 8Months –Ended ~~Assets~~September ~~Held~~30, ~~for~~2013 ~~Sale~~compared -to September ~~Continued~~30, 2012

~~(d)~~ Amortization, tangible ~~Project~~and ~~Assets~~intangible -assets, ~~Continued~~expense decreased by $1,793 or 100% from $1,801 for the three months ended September 30, 2012 to $8 for the three months ended September 30, 2013. The reason for the decrease was that the Business Plan was fully amortized as of October 31, 2012.

~~Project~~ We incurred ~~developments~~$46,565 ~~costs~~in -accretion ~~Continued~~expense on promissory note for the three months ended September 30, 2013, as compared to no accretion expense ($nil) on promissory note for the three months ended September 30, 2012. The $46,565 was the amortized portion of the deferred financing fees for the current period incurred on the issuance of the senior secured promissory note over the life of the note. On the transfer of Coronus to Redwood, on September 19, 2013, all then outstanding advances under the note, together with all accrued but unpaid interest, were assumed as part of the transfer.

We recovered $36,243 in consulting fees expense for the three months ended September 30, 2013, as compared to no consulting fees expense (~~vii~~$nil) ~~Initial~~for ~~Posting~~the three ofmonths ~~Interconnection~~ended ~~Financial~~September ~~Security~~30, 2012. This expense relates to 1) the focused biological surveys we undertook for ~~Project~~several ~~Coronus~~properties ~~Yucca~~during ~~Valley~~the ~~East~~current and previous period, 2) the Earthlight consultancy, and 3) the RenewTrek consultancy.

On Interest and ~~February~~bank 14charges ~~and~~expense ~~April~~increased ~~15,~~by ~~2013~~$44,534 ~~pursuant~~or to2,410% ~~the~~from ~~SCE~~$1,847 ~~interconnection request~~ for ~~solar~~the three PVmonths ~~project~~ended ~~Coronus~~September ~~Yucca~~30, ~~Valley~~2012 ~~East~~to 3$46,381 ~~Coronus~~for ~~posted with SCE~~ the ~~initial~~three ~~and~~months ~~second~~ended September ~~interconnection financial securities~~30, in2013. ~~the~~The ~~amounts~~principal ofreason ~~$84,500~~for ~~and~~the ~~$42,250,~~increase ~~respectively.~~was ~~These~~the ~~amounts~~accrual ~~were~~of ~~determined by~~ the interest ~~results~~owing ofon the ~~SIS~~senior ~~study~~secured ~~SCE~~promissory ~~commenced~~note ~~with~~in ~~Coronus~~the onamount ~~June~~of 25$45, ~~2012~~028.

We incurred $3,176 in imputed interest expense for the three months ended September 30, 2013, as compared to no imputed interest expense (~~viii~~$nil) ~~Second~~for ~~Posting~~the ofthree ~~Interconnection~~months ended ~~Financial~~September ~~Security~~30, 2012. The imputed interest expense relates to the development expenses to be incurred over the period for ~~Projects~~the disposal of the subsidiaries in respect of the Coronus ~~29-Palms~~sale ~~North~~to 2Redwood. ~~and~~It 3was calculated at 12% per annum.

On Office and ~~February~~miscellaneous ~~20,~~expense ~~2013,~~increased ~~pursuant~~by to$16,661 ~~the~~or ~~SCE~~142% ~~interconnection~~from ~~requests~~$11,728 for ~~solar~~the three PVmonths ~~projects~~ended ~~Coronus~~September ~~29-Palms North 2 and 3~~30, ~~Coronus~~2012 ~~posted~~to ~~with SCE the second interconnection financial securities~~$28,389 infor the ~~amounts~~three ofmonths ~~$156,350~~ended September ~~and $126~~30,~~050,~~ ~~respectively~~2013. The ~~posting~~principal ~~amount~~reason for the ~~Coronus~~increase ~~29-Palms North 2 project~~ was ~~determined by~~ the ~~results~~accrual of the California ~~combined~~franchise ~~SIS/FAS~~tax ~~study~~of ~~SCE commenced with Coronus on June 16~~$13,600 ~~2011.~~for ~~The~~the ~~posting~~current ~~amount~~quarter for ~~the~~ Coronus, Coronus’ ~~29-Palms~~limited ~~North~~liability 3company project ~~was~~subsidiaries, ~~determined~~and ~~by the results of the combined SIS/FAS study SCE commenced with~~ Coronus ~~on February~~ 29,-Palms Morongo ~~2012~~LLC.

~~(ix)~~ Professional fees ~~Initial~~expense ~~Posting~~increased ofby ~~Interconnection~~$24,641 ~~Financial~~or ~~Security~~128% from $19,214 for ~~Projects~~the three months ended September 30, 2012 to $43,855 for the three months ended September 30, 2013. The principal reason for the increase was the increase in activity of the Company, in particular, the disposal of Coronus ~~Yucca~~and ~~Valley~~the ~~East~~addition 1of the senior secured promissory note. Legal fees increased by $19,300 and 2accounting and audit fees increased by $5,300.

~~On February 25, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Yucca Valley East 1~~ Salaries and 2,wages ~~Coronus~~expense ~~posted~~decreased ~~with~~by ~~SCE the initial interconnection financial securities~~$9,885 inor ~~the~~39% ~~amounts~~from of $25,~~300~~290 ~~and~~for ~~$69,980,~~the ~~respectively.~~three Onmonths ended ~~April~~September 2630, ~~2013,~~2012 ~~pursuant~~ to ~~the~~$15,405 ~~SCE interconnection requests~~ for ~~solar~~the PVthree ~~projects~~months ~~Coronus~~ended ~~Yucca~~September ~~Valley East 1 and 2~~30, 2013. ~~Coronus~~The ~~posted~~reason ~~with~~for ~~SCE~~ the ~~second~~decrease ~~interconnection~~is ~~financial~~that ~~securities,~~effective inSeptember ~~the amounts of $12~~1,~~650~~ ~~and $34~~2013,~~990,~~ ~~respectively.~~although our ~~The~~principal ~~posting~~executive ~~amounts~~officer ~~for~~continues ~~the~~to ~~Coronus~~serve ~~Yucca~~as ~~Valley~~our ~~East~~principal 1executive officer, ~~and~~we 2no ~~projects~~longer ~~were~~pay ~~determined~~our byprincipal ~~the~~executive ~~results~~officer of the ~~SIS studies SCE commenced with Coronus on February 2~~CAD$8,000 ~~2012~~per month salary.

~~Note~~ We 9incurred –$3,050 ~~Property~~in travel expense for the three months ended September 30, 2013, ~~Plant~~as ~~and~~compared ~~Equipment~~to no travel expense ($nil) for the three months ended September 30, 2012. The increase was due to visits to our portfolio of sites in California.

~~Property~~ Feasibility study expense decreased by $71,035 ~~plant~~or ~~and~~97% ~~equipment~~from at$72,857 ~~June~~for the three months ended September 30, ~~2013~~2012 ~~and~~to ~~March~~$1,822 31for the three months ended September 30, 2013. ~~were~~The ~~summarized~~decrease aswas ~~follows:~~due to the expensed portion of the numerous deposits Coronus paid over the past year to SCE for interconnection studies largely completed in the past year.

				Accumulated		Net book
June 30, 2013		Cost		depreciation		value
Office equipment	$	1,305	$	1,195	$	110
Computer equipment		999		976		23
Land*		33,197		-		33,197
	$	35,501	$	2,171	$	33,330

We achieved $15,880 in imputed interest income for the three months ended September 30, 2013, as compared to no imputed interest expense ($nil) for the three months ended September 30, 2012. The imputed interest income relates to the receivable debenture on the remaining proceeds to be received over the period for the disposal of Coronus. It was calculated at 12% per annum.

-2029-

~~Table~~ We achieved no gain on sale of ~~Contents~~assets ($nil) for the three months ended September 30, 2013, as compared to $908,030 in gain on sale of assets for the three months ended September 30, 2012. Pursuant to the Sycamore Solar PV Asset Sale Agreement, we recorded a gain of $908,030 in respect of the sale of Coronus Hesperia West 2 LLC in the three month period ended September 30, 2012.

~~CORONUS~~ We achieved ~~SOLAR~~$3,420,612 ~~INC~~in gain on disposal of subsidiaries for the three months ended September 30, 2013, as compared to no gain on disposal of subsidiary ($nil) for the three months ended September 30, 2012. The gain relates to the net present value of the sales proceeds of the Coronus sale to Redwood, according to projected collection dates after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system, less the net book value of assets sold and the additional development costs to be incurred.

(ASix ~~Development~~Months ~~Stage~~Ended ~~Enterprise)~~September 30, 2013 compared to September 30, 2012

~~Notes~~ Amortization, tangible and intangible assets, expense decreased by $3,588 or 100% from $3,604 for the six months ended September 30, 2012 to ~~Consolidated~~$16 ~~Financial~~for ~~Statements~~the six months ended September 30, 2013. The reason for the decrease was that the Business Plan was fully amortized as of October 31, 2012.

~~(Expressed~~ We incurred $146,568 in Uaccretion expense on promissory note for the six months ended September 30, 2013, as compared to no accretion expense ($nil) on promissory note for the six months ended September 30, 2012.S The $146,568 was the amortized portion of the deferred financing fees for the current period incurred on the issuance of the senior secured promissory note over the life of the note. ~~Dollars)~~On the transfer of Coronus to Redwood, on September 19, 2013, all then outstanding advances under the note, together with all accrued but unpaid interest, were assumed as part of the transfer.

~~Period~~ We incurred ~~Ended~~$111,904 ~~June~~in consulting fees expense for the six months ended September 30, 2013, as compared to no consulting fees expense ($nil) for the six months ended September 30, 2012. This expense relates to 1) the focused biological surveys we undertook for several properties during the current and previous period, 2) the Earthlight consultancy, and 3) the RenewTrek consultancy. This expense was offset from us receiving a $92,025 refund from Redwood, on the transfer of Coronus to Redwood on September 19, 2013, for payments made by us earlier in respect of the focused biological surveys.

~~Note~~ We incurred 9no –interest ~~Property~~on shareholder loan expense ($nil) for the six months ended September 30, ~~Plant~~2013, as compared to $430 in interest on shareholder loan expense for the six months ended September 30, 2012. The reason for the decrease was that on April 18, 2012, we repaid, in full, the shareholder loan, and ~~Equipment~~thus -ended the ~~Continued~~accumulation of further interest.

				Accumulated		Net book
March 31, 2013		Cost		depreciation		value
Office equipment	$	1,351	$	1,231	$	120
Computer equipment		1,034		1,008		26
Land*		126,856		-		126,856
	$	129,241	$	2,239	$	127,002

Interest and bank charges expense increased by $88,959 or 983% from $9,054 for the six months ended September 30, 2012 to $98,013 for the six months ended September 30, 2013. The principal reason for the increase was the accrual of the interest owing on the senior secured promissory note.

*Land We incurred $3,176 in imputed interest expense for the six months ended September 30, 2013, as compared to no imputed interest expense ($nil) for the six months ended September 30, 2012. The imputed interest expense relates to the development expenses to be incurred over the period for the disposal of the subsidiaries in respect of the Coronus sale to Redwood. It was calculated at 12% per annum.

~~(i)~~ Office and miscellaneous expense increased by $26,448 or 101% from $26,065 for the six months ended September 30, 2012 to $52,513 for the six months ended September 30, 2013. The principal reason for the increase was the accrual of the California franchise tax of $13,600 for the current period for Coronus, Coronus’ limited liability company project subsidiaries, and Coronus 29-Palms ~~East~~Morongo LLC.

~~Such represents a~~ -30 ~~acre parcel of vacant land, situated east of 29~~-~~Palms,~~ in the County of San Bernardino, California. The purchase price was $32,000. At this point in time, the Company has opted not to pursue interconnection agreements for solar PV power systems sited on this parcel.

~~Note~~ Professional 10fees –expense ~~Disposition~~increased by $42,204 or 85% from $49,468 for the six months ended September 30, 2012 to $91,672 for the six months ended September 30, 2013. The principal reason for the increase was the increase in activity of the aCompany, ~~subsidiary~~in particular, the disposal of Coronus and the addition of the senior secured promissory note. Legal fees increased by $23,984 and accounting and audit fees increased by $18,220.

On Salaries and ~~April~~wages 5,expense ~~2012,~~decreased ~~Coronus~~by ~~entered~~$10,206 ~~into~~or a20% ~~Solar~~from ~~Photovoltaic~~$50,182 ~~Asset~~for ~~Sale Agreement (~~the ~~“Sycamore~~six ~~Solar~~months ended PVSeptember ~~Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement~~30, ~~Coronus~~2012 ~~agreed~~ to ~~sell~~$39,976 ~~assign~~for ~~and~~the ~~transfer~~six tomonths ~~Sycamore,~~ended ~~Coronus’~~September ~~sole membership in Coronus Hesperia West 1 LLC. On March 19~~30, ~~2012, Coronus Hesperia West 1 LLC entered into a Power Purchase Agreement (“PPA”) with Southern California Edison (“SCE”)~~2013. The ~~PPA~~reason ~~relates to Coronus’ application~~ for ~~interconnection service and~~ the ~~CREST~~decrease ~~tariff~~is ~~for~~that aeffective ~~1.2~~September ~~MW solar PV power system on a 20 acre parcel of vacant land~~1, ~~situated west of Hesperia~~2013, inalthough ~~the~~our principal ~~County~~executive ofofficer ~~San~~continues ~~Bernardino, California, Coronus agreed~~ to ~~acquire~~serve ~~pursuant~~as toour aprincipal ~~vacant land purchase agreement (the “Hesperia West Agreement”). Additionally~~executive officer, ~~under~~we ~~the~~no ~~Sycamore~~longer ~~Solar~~pay PVour ~~Asset~~principal ~~Sale~~executive ~~Agreement,~~officer ~~Coronus agreed to assign to Sycamore,~~ the ~~Hesperia West Agreement. Further~~CAD$8,000 ~~under~~per month the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West 20 acre parcel, and to sell this PPA (relating to a 1salary.5 ~~MW solar PV system) to Sycamore if obtained.~~

~~Under~~ We ~~the~~incurred ~~Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay~~ $19,~~726,219~~742 ~~(the~~in ~~“Basic~~travel ~~Price”)~~expense ~~to Coronus~~ for the ~~sole~~six ~~ownership~~months inended ~~Coronus~~September ~~Hesperia West 1 LLC~~30, ~~the assignment of the Hesperia West Agreement~~ 2013, ~~and~~as ~~the~~compared ~~second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed~~ to ~~pay~~no ~~$817,200~~travel expense (~~paid~~$nil) tofor ~~Coronus, and Coronus agreed to transfer~~ the ~~sole~~six ~~membership~~months inended ~~Coronus~~September 30, ~~Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore~~2012. ~~Under~~The ~~the~~increase ~~Sycamore~~was ~~Solar~~due ~~PV Asset Sale Agreement, Sycamore agreed~~ to ~~pay~~visits ~~the balance of the Basic Price, or $909,019 (paid),~~ to ~~Coronus~~our onportfolio ~~delivery~~ of ~~the~~sites ~~second PPA~~in California.

~~-21-~~ Feasibility study expense decreased by $90,302 or 78% from $116,157 for the six months ended September 30, 2012 to $25,855 for the six months ended September 30, 2013. The decrease was due to the expensed portion of the numerous deposits Coronus paid over the past year to SCE for interconnection studies largely completed in the past year.

~~Table~~ Foreign exchange loss expense decreased by $9,827 or 116% from an exchange loss of ~~Contents~~$8,457 for the six months ended September 30, 2012 to an exchange gain of $1.370 for the six months ended September30, 2013. The decrease was attributable to the fluctuation of the USD/CAD exchange rate.

~~CORONUS~~ We ~~SOLAR~~incurred ~~INC~~no write-off on discount of convertible notes expense ($nil) for the six months ended September 30, 2013, as compared to $80,237 in write-off on discount of convertible notes expense for the six months ended September 30, 2012. On April 20, 2012, we repaid, in full, the principal and interest owning on two convertible promissory notes. An amount of $5,302 was amortized for the period from April 1 to April 19, 2012, and the balance of the discount on issuance of the convertible promissory notes, $80,237, was written off.

(A We achieved ~~Development~~$15,880 ~~Stage~~in ~~Enterprise~~imputed interest income for the six months ended September 30, 2013, as compared to no imputed interest expense ($nil) for the six months ended September 30, 2012. The imputed interest income relates to the receivable debenture on the remaining proceeds to be received over the period for the disposal of Coronus. It was calculated at 12% per annum.

~~Notes~~ We achieved no gain on sale of assets ($nil) for the six months ended September 30, 2013, as compared to ~~Consolidated~~$1,717,024 ~~Financial~~in ~~Statements~~gain on sale of assets for the six months ended September 30, 2012. Pursuant to the Sycamore Solar PV Asset Sale Agreement, we recorded a gain of $1,717,024 in respect of the sale of Coronus Hesperia West 1 LLC and Coronus Hesperia West 2 LLC in the six month period ended September 30, 2012.

~~(Expressed~~ We achieved $3,420,612 in Ugain on disposal of subsidiaries for the six months ended September 30, 2013, as compared to no gain on disposal of subsidiary ($nil) for the six months ended September 30, 2012.S The gain relates to the net present value of the sales proceeds of the Coronus sale to Redwood, according to projected collection dates after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system, less the net book value of assets sold and the additional development costs to be incurred. ~~Dollars)~~

~~Period~~Assets ~~Ended~~and ~~June~~Liabilities at September 30, 2013 compared to March 31, 2013

~~Note~~ Cash and 10cash –equivalents ~~Disposition~~decreased ofby a$190,367 ~~subsidiary~~or -67% ~~Continued~~from $284,989 at March 31, 2013 to $94,622 at September 30, 2013. The reason for the decrease is that we used more cash in the current period to pay liabilities, than we achieved in gains in cash in the same period.

~~The Company recorded a gain on the sale of Coronus Hesperia West 1 LLC and Coronus Hesperia West 2 LLC of $1,717,024 during the year ended March~~ -31,- ~~2013. Details are as follows:~~

Cash consideration	$	1,726,219
Less: net book value of assets sold		9,195
	$	1,717,024

Other receivables decreased by $27,268 or 79% from $34,529 at March 31, 2013 to $7,261 at September 30, 2013. The principal reason for the decrease was the receipt of $25,081 in SCE utility study deposit refunds in the current period.

As Current, prepaid atexpenses ~~June~~and 30deposit decreased by $24,532 ~~2012~~or 89% from $27,666 ~~the~~at ~~Company~~March 31, ~~recognized~~2013 ato ~~gain~~$3,134 onat ~~the~~September ~~sales~~30, of2013. ~~Coronus~~The ~~Hesperia~~decrease ~~West~~is 1due ~~LLC~~to a comparative decrease in ~~the~~current, ~~amount~~prepaid ofexpenses ~~$80,994~~in relation to utility interconnection studies.

~~Note~~ We had 11$1,270,551 in receivable – ~~Liabilities~~debenture, ~~Held~~net - current at September 30, 2013, as compared to no receivable – debenture, net – current ($nil) at March 31, 2013. The receivable – debenture, net – current relates to the current portion of the Redwood Debenture securing the sales proceeds of the Coronus sale to Redwood, according to projected collection dates after adjusting for ~~Sale~~an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system, less the net book value of assets sold.

~~The~~ We ~~liabilities~~had ~~held~~no ~~for~~long-term ~~sale~~prepaid ~~are~~expenses ~~summarized~~and deposit ($nil) at September 30, 2013, as ~~follows:~~compared to $564,150 in long-term prepaid expenses and deposit at March 31, 2013. These assets were sold to Redwood as part of the Coronus sale on September 19, 2013.

		June 30,
		2013
Accounts payable and accrued liabilities	$	147,808
Senior secured promissory note (a)		3,358,598
Notes payable (b)		579,014
	$	4,085,420

We had $3,096,003 in receivable – debenture – long term at September 30, 2013, as compared to no receivable – debenture – long term ($nil) at March 31, 2013. The receivable – debenture – long term relates to the long term portion of the Redwood Debenture securing the sales proceeds of the Coronus sale to Redwood, according to projected collection dates after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system, less the net book value of assets sold.

We had no project assets (a$nil) ~~Senior~~at ~~Secured~~September ~~Promissory~~30, ~~Note~~2013, as compared to $3,477,920 in project assets at March 31, 2013. These assets were sold to Redwood as part of the Coronus sale on September 19, 2013.

		June 30,
		2013
Principle	$	3,314,032
Effective interest rate at 6.66%		(206,280)
Net present value		3,107,752
Interest accretion		250,846
Total	$	3,358,598

We had no senior secured promissory note ($nil) at September 30, 2013, as compared to $2,902,100 in senior secured promissory note at March 31, 2013. This liability was assumed by Redwood as part of the Coronus sale on September 19, 2013.

~~-22-~~ Current notes payable decreased by $194,984 or 84% from $232,084 at March 31, 2013 to $37,100 at September 30, 2013. But for the current notes payable in relation to the Newberry Springs encumbrance, these liabilities were assumed by Redwood as part of the Coronus sale on September 19, 2013.

~~Table~~ We had $262,173 in deferred expenses – current at September 30, 2013, as compared to no deferred expenses – current ($nil) at March 31, 2013. The deferred expenses – current relate to the current portion of ~~Contents~~the additional development costs, in respect of the Coronus sale, the Company anticipates incurring, equivalent to approximately 20% of the total sales proceeds of the subsidiaries in order to earn the related sales proceeds, after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system.

~~CORONUS~~ We had ~~SOLAR~~no ~~INC~~long-term notes payable ($nil) at September 30, 2013, as compared to $579,014 in long-term notes payable at March 31, 2013. These liabilities were assumed by Redwood as part of the Coronus sale on September 19, 2013.

(A We had ~~Development~~$619,201 ~~Stage~~in ~~Enterprise~~deferred expenses – long term at September 30, 2013, as compared to no deferred expenses – long term ($nil) at March 31, 2013. The deferred expenses – long term relate to the long term portion of the additional development costs, in respect of the Coronus sale, the Company anticipates incurring, equivalent to approximately 20% of the total sales proceeds of the subsidiaries in order to earn the related sales proceeds, after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system.

~~Notes~~Limited toOperating ~~Consolidated~~History; ~~Financial~~Need ~~Statements~~for Additional Capital

~~(Expressed~~ There is limited historical financial information about us upon which to base an evaluation of our performance. We cannot guarantee we will be successful in Uour business operations.S. ~~Dollars)~~Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources.

~~Period~~-32- ~~Ended June 30, 2013~~

~~Note~~ To 11continue –with ~~Liabilities~~our ~~Held~~operations, we need to develop new solar PV projects, and obtain power purchase agreements and land use permits for ~~Sale~~them. -There ~~Continued~~is no assurance that we will be able to develop new projects that are viable. Nor is there any assurance that we will be able to obtain power purchase agreements or land use permits. Further, there is no assurance that we will be able to secure financing, or secure financing on acceptable terms, to develop new projects. If financing is not available on acceptable terms, we may be unable to develop our operations.

~~(a)~~ We ~~Senior~~expect ~~Secured~~to ~~Promissory~~obtain ~~Note~~capital -through ~~Continued~~the payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, under the Share Purchase and Development Services Agreement. As the payment of the Contract Price is based on the aggregate of the value of the installed solar PV systems, and there is no assurance that the solar PV systems will obtain land use permits or be installed, there is no assurance that we will raise capital through the payment of the Contract Price.

On We ~~December~~do ~~20,~~not ~~2012,~~believe ~~Coronus~~that ~~and~~possible ~~Coronus’~~inflation wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC, and ~~Coronus~~price ~~Adelanto~~changes ~~West~~will 2affect LLC (collectively the “Project Companies”), conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to one investor, Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of up to $4,000,000 (the “Loan”)our revenues. Pursuant to collateral assignment and pledge agreements, and a security agreement, the Note is secured by a first and superior security interest in Coronus’ assets, inclusive of all of Coronus’ right, title and interest in, to and under the sole member of the Project Companies, and all of Coronus’ right, title and interest in, to, and under, if any, any contracts, permits, applications or other documents or agreements entered into or submitted by the Project Companies.

~~Pursuant~~ Our toauditors ahave ~~schedule~~issued ofa ~~draw~~going ~~dates~~concern ~~and~~opinion ~~amounts, Coronus was to request advances,~~ in ~~whole~~our orconsolidated infinancial statements ~~part,~~for ~~of up to~~ the ~~maximum~~year ~~amount~~ended ofMarch the Loan (each an “Advance”). The schedule of draw dates and amounts was as follows: $1,500,000 within two business days of signing of the Note and related loan documents; $500,000 on January 6, 2013; $1,000,000 on January 31, 2013~~; and $1,000,000 on February 28, 2013~~. OnThis ~~December~~means ~~26,~~that ~~2012,~~there ~~Coronus~~is substantial ~~received~~uncertainty ~~the~~that ~~first~~we ~~Advance~~will ofcontinue ~~$1,500,000, and on January 4, 2013, Coronus received the second Advance of $500,000~~operations. ~~Pursuant~~The toaccompanying financial astatements ~~guaranty~~do ofnot ~~payment~~include ~~and~~any ~~completion~~adjustments ~~(the~~that ~~“Guaranty”),~~might ~~the~~be ~~Company~~necessary ~~guarantees~~ if the punctual payment and performance when due, whether at stated maturity or by acceleration or otherwise, of the indebtedness and other obligations of Coronus and the Project Companies. Additionally, pursuant to the Guaranty, the Company ~~guarantees~~is ~~that~~unable ~~all obligations of Coronus and the Project Companies~~ to continue ~~development~~as ofa ~~the~~going Project Companies’ projects shall be completed promptly when required, and that the proceeds of each Advance shall be used to pay certain obligations in furtherance of the Project Companies’ projectsconcern.

~~The~~Liquidity ~~Note bears interest at an annual rate of 6%,~~ and ~~such~~Capital ~~interest~~Resources ~~shall accrue until the Maturity Date.~~

In Since ~~connection with the Loan~~inception, ~~Coronus~~we ~~and~~have ~~the~~issued ~~Project Companies shall pay up to $20~~17,~~000 in costs and expenses incurred by Clean Focus in the preparation of the Note and the related loan documents. Additionally~~219,486 ~~with~~shares ~~each Advance, and from the proceeds~~ of ~~each~~our ~~Advance,~~common ~~Coronus~~stock was to pay Clean Focus a fee equal to 2% of the principal amount of the Advance. In connection with the first Advance of $1,500,000 on December 26, 2012, Coronus paid Clean Focus the 2% fee, or $30,000, and received incash ~~connection with the second Advance~~ of $~~500~~591,~~000 on January 4, 2013, Coronus paid Clean Focus the 2% fee, or $10,000~~861. Further, in connection with the Loan, with each Advance, but not from the proceeds of each Advance, but from Coronus’ unallocated working capital, Coronus was to pay Earthlight Solar Inc. (“Earthlight”) a fee equal to 3% of the principal amount of the Advance. Mark Burgert, a shareholder of the Company, is the president and a control person of Earthlight. In connection with the Loan, on behalf of Coronus, Earthlight acted as agent. In connection with the first Advance of $1,500,000 on December 26, 2012, Coronus paid Earthlight the 3% fee, or $45,000, and in connection with the second Advance of $500,000 on January 4, 2013, Coronus paid Earthlight the 3% fee, or $15,000.

On August 9, 2013, we and Coronus Energy Corp. (“Coronus”), our previously owned, wholly-~~23-~~owned subsidiary, entered into a share purchase and development services agreement (the “Share Purchase and Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”). On September 19, 2013, the parties closed on the Share Purchase and Development Services Agreement.

~~Table~~ On December 20, 2012, Coronus and Coronus’ wholly-owned subsidiaries, conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of ~~Contents~~up to $4,000,000 (the “Loan”).

~~CORONUS~~ Under the ~~SOLAR~~Share ~~INC~~Purchase and Development Services Agreement, we agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus, which held Power Purchase Agreements under the CREST Program, for $8,775,000 (the “Contract Price”). Redwood was to pay the Contract Price by issuing a non-interest bearing, secured debenture (the “Redwood Debenture”) to us. On September 19, 2013, at closing, Redwood issued the Redwood Debenture to us.

(A In respect ~~Development~~of ~~Stage~~the ~~Enterprise)~~Contract Price, and related Redwood Debenture, we recorded a gain of $3,420,612. The gain relates to the net present value of the sales proceeds of the Coronus sale to Redwood, according to projected collection dates after adjusting for an imputed annual discount rate of 12% and probability of success ratio ranging from 25% to 80%, per solar PV system, less the net book value of assets sold and the additional development costs of approximately 20% to be incurred.

~~Notes~~ Our obligation to ~~Consolidated~~complete ~~Financial~~the ~~Statements~~sale was subject, in part, to 1) us receiving a release from Clean Focus in respect of any further obligations under or in connection with the Loan; and 2) the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than two-thirds of our shares. On September 19, 2013, at closing, we received the release from Clean Focus in respect of any further obligations under or in connection with the Loan. On September 16, 2013, at the annual general & special meeting of our shareholders (the “Shareholder Meeting”), we obtained the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than two-thirds of our shares.

~~(Expressed~~-33- ~~in U.S. Dollars)~~

~~Period~~ Redwood's obligation ~~Ended~~to ~~June~~complete 30the purchase was subject, in part, to 1) Redwood receiving lock-up agreements and proxies from our shareholders holding not less than 80% of our shares; and 2) the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than 80% of our shares. Prior to the Shareholder Meeting, Redwood received lock-up agreements and proxies from twelve of our shareholders holding 80.6% of our shares. On September 16, 2013, at the Shareholder Meeting, we obtained the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than 80% of our shares.

~~Note~~ At closing, 11on –the ~~Liabilities~~transfer ~~Held~~of ~~for~~Coronus ~~Sale~~to -Redwood, ~~Continued~~all then outstanding advances under the Loan, together with all accrued but unpaid interest, were assumed as part of the transfer.

( The Contract Price, based on an agreed upon price of dollars per peak installed watt, is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and is based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by us. The payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to us on the execution of the Share Purchase and Development Services Agreement; 2) $9,000 was paid to us on closing on September 19, 2013; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to us; and 4) ~~Senior~~the ~~Secured~~balance ~~Promissory~~of ~~Note~~the Contract Price shall be pro-rated ~~Continued~~among the twelve solar PV systems with each pro-rata portion paid to us on permanent financial close in connection with the construction of each system.

~~On January 31, 2013,~~ Under the ~~parties~~Share ~~amended~~Purchase ~~the mechanics of the draw dates~~ and ~~amounts~~Development ~~under~~Services ~~the~~Agreement, ~~Loan. Under~~ the ~~amended~~Contract ~~mechanics,~~Price ~~Coronus~~is subject ~~was~~ to ~~provide~~adjustment, ~~Clean~~upwards ~~Focus~~or ~~with invoices~~downwards, ~~supportive~~as ofappropriate, ~~the schedule~~based, ~~and~~in ~~Clean~~part, ~~Focus was to make~~ on the ~~required~~following ~~payments~~parameters: ~~direct~~installed tocapacity; ~~the~~development ~~payee,~~expense ~~when~~budget true-up; ~~due.~~interconnection ~~With~~refund ~~each~~true-up; ~~direct~~and ~~payment,~~ Coronus ~~was~~financial ~~to credit Clean Focus its fee equal to 2% of the principal amount of the payment~~statements true-up. ~~The~~Under ~~parties amended~~ the ~~mechanics~~Share ofPurchase ~~the~~and ~~draw~~Development ~~dates~~Services ~~and~~Agreement, ~~amounts~~Redwood agrees to ~~facilitate~~fund, ~~Clean~~and ~~Focus’ reporting with~~ the ~~U.S.~~Contract ~~Citizenship~~Price ~~and~~reflects ~~Immigration~~Redwood ~~Services~~funding, ascertain development ~~the~~expenses ~~source~~that ofare ~~the~~separate ~~Loan~~and isaside ~~EB-5~~from ~~immigrant investor funds. All other aspects of~~ the ~~Loan~~Contract ~~mechanics remained unchanged~~Price. ~~Accordingly,~~The Redwood ~~consistent~~Debenture ~~with~~security ~~the~~interests ~~original~~received ~~agreement~~by ~~with~~us ~~Earthlight,~~are onsubordinate ~~February~~and ~~6, 2013, Coronus paid Earthlight its fee equal~~ junior to ~~3%, or $30,000, of~~ the ~~originally~~interests ~~scheduled~~securing ~~principal amount of~~ the ~~third Advance~~Loan, ~~and~~as onwell ~~March~~as ~~11,~~subordinate ~~2013,~~and ~~Coronus~~junior ~~paid Earthlight its fee equal~~ to ~~3%,~~all future ordraws ~~$30,000,~~under of the ~~originally~~Loan ~~scheduled~~where ~~principal~~the ~~amount~~proceeds ofare ~~the~~used ~~fourth~~to ~~and~~fund ~~final~~those ~~Advance~~certain development expenses.

~~The~~ We ~~unpaid~~expect ~~principal~~to ~~balance~~obtain ofcapital through the ~~Note~~payment asof atthe ~~June~~Contract 30Price, ~~2013~~and ~~was $3,314,032. During~~ the ~~period~~corresponding ~~ended~~retirement ~~June~~of ~~30,~~the ~~2013,~~Redwood ~~$50~~Debenture,~~338~~ ~~(2012:~~under ~~$nil)~~the inShare ~~interest~~Purchase ~~expense~~and ~~has~~Development ~~been~~Services ~~accrued~~Agreement. As ofthe ~~June~~payment ~~30,~~of ~~2013,~~ the ~~financing~~Contract ~~cost~~Price is based on the ~~issuance~~aggregate of the ~~senior~~value ~~secured~~of ~~promissory~~the ~~note,~~installed ~~$206,280~~solar ~~[March~~PV 31systems, ~~2013:~~and ~~$200,032~~there ~~($120,000~~is ~~paid~~no toassurance ~~Earthlight~~that ~~and~~the ~~$80~~solar PV systems will obtain land use permits or be installed,~~032~~ ~~paid~~there tois ~~Clean~~no ~~Focus)]~~assurance that we will raise capital through the payment of the Contract Price. Nonetheless, ~~was~~we ~~capitalized~~believe ~~and~~that ~~amortized~~capital ~~over~~generated through the ~~life~~payment of the ~~senior~~Contract ~~secured~~Price ~~promissory~~under ~~note~~the Share Purchase and Development Services Agreement will allow us to operate for the next twelve months. ~~During~~Capital raised from the ~~period~~payment ~~ended~~of ~~June~~the ~~30,~~Contract ~~2013,~~Price ~~$100,003~~under ~~(2012:~~the ~~$nil)~~Share ~~was~~Purchase ~~amortized~~and Development Services Agreement is our only anticipated source of additional capital.

On To ~~August~~develop 9,a ~~2013,~~1.5 ~~the~~MW ~~Company~~ground-mount, ~~and~~fixed-tilt, ~~Coronus~~solar ~~entered~~PV ~~into~~power aplant, ~~share~~we ~~purchase and development services agreement (~~forecast the ~~“Share~~total ~~Purchase~~project ~~and~~cost ~~Development~~to ~~Services~~be ~~Agreement”) with Redwood Solar Development LLC (“Redwood”) [see Note 18(b)]~~$4.6 ~~Under the Share Purchase and Development Services Agreement~~million, ~~the~~inclusive ~~Company has agreed to sell 100%~~ of the ~~issued~~costs ~~and outstanding shares~~ of ~~Coronus~~the topower plant, ~~Redwood~~interconnection, inland, ~~addition~~and toproject ~~performing~~entitlement, ~~certain~~but ~~development~~exclusive ~~services in respect~~ of ~~the~~a developer ~~twelve~~fee ~~anticipated,~~or ~~utility-scale, solar PV projects of Coronus~~profit. ~~The~~We ~~Company~~base isour ~~scheduled~~cost toforecast ~~hold~~on an1) ~~annual~~the ~~and~~costs ~~special~~we’ve incurred ~~meeting~~to ofdate, ~~its~~2) ~~shareholders (~~the ~~“Meeting”)~~costs onwe ~~September~~anticipate ~~16,~~Redwood ~~2013,~~will atincur ~~which~~to ~~time,~~complete development ~~its~~of ~~shareholders~~the ~~will~~portfolio ~~vote,~~of bysolar ~~proxy~~PV orprojects inwe ~~person,~~sold ~~on whether~~ to ~~approve~~them ~~the~~under the Share Purchase and Development Services Agreement., ~~The~~and ~~closing date (the “Closing Date”~~3) ~~means~~ the ~~date~~pricing onestimates we ~~which~~obtained ~~the~~from ~~closing~~solar ~~will~~PV ~~occur,~~system ~~which~~integrators ~~will~~to bebuild ~~not~~turn-key ~~more~~solar ~~than~~PV ~~three business days following the date of the Meeting~~systems.

If On ~~the~~August ~~required~~28, ~~percentages~~2010, ofCoronus ~~shareholder~~entered ~~votes~~into ~~are~~a ~~met~~Vacant ~~under~~Land ~~the Share~~ Purchase ~~and Development Services~~ Agreement, ~~upon~~ (the “29-Palms ~~transfer~~East ofAgreement”) ~~Coronus~~ to ~~Redwood,~~acquire ~~all~~a ~~then~~30 ~~outstanding~~acre ~~Advances~~parcel ~~under~~of ~~the~~vacant ~~Loan~~land, ~~together~~situated east ~~with~~of ~~all~~Twentynine ~~accrued~~Palms, ~~but~~in ~~unpaid~~the ~~interest,~~County ~~will~~of beSan ~~assumed~~Bernardino, asCalifornia ~~part~~(the “29-Palms ofEast ~~the~~Parcel”). ~~stock~~The purchase price. Inof ~~the~~$32,000, ~~event~~all ~~the~~cash, ~~required~~was ~~percentages~~paid ofon January ~~shareholder~~24, ~~votes~~2011. ~~are~~On ~~not~~March ~~met~~29, ~~under~~2013, ~~the~~Coronus ~~Share~~transferred ~~Purchase~~ownership ~~and~~of ~~Development Services Agreement,~~ the 29-Palms ~~Company~~East ~~shall~~Parcel ~~owe~~to ~~Redwood~~us, ato ~~break-up~~settle ~~fee of~~ $532,000~~,000,~~ ~~which~~in ~~will~~debt beowing ~~immediately~~to ~~due~~us ~~and~~by ~~payable~~Coronus. InAt this ~~addition,~~point ~~the Loan will be~~ in ~~immediate default~~time, ~~and~~we ~~will~~have ~~become~~opted ~~due~~not ~~and~~to ~~payable,~~pursue ~~with~~interconnection ~~the~~agreements ~~Company~~for solar ~~confessing~~power ~~judgment~~systems tosited ~~the~~on ~~immediate~~this ~~exercise~~parcel. ofBased ~~remedies~~on ~~allowed~~the ~~with~~feedback ~~respect~~we toreceived ~~the~~from SCE’s ~~default~~engineers, of the ~~Loan,~~anticipated ~~including,~~grid ~~without~~upgrade ~~limitation,~~costs ato ~~declaration~~accommodate ofthe ~~foreclosure~~systems onare ~~the~~currently prohibitive. ~~Coronus~~Accordingly, ~~land~~we ~~parcels~~are ~~and~~currently ~~the~~assessing ~~seizure~~alternative ofuses ~~all~~for ~~assets~~this parcel, ofincluding ~~Coronus~~a sale.

-2434-

~~Table~~ On January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement [the “29-Palms North (Original) Agreement”] to acquire a 39.25 acre parcel of ~~Contents~~vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California [the “29-Palms North (Original) Parcel”]. The purchase price was $40,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on May 16, 2011. On May 17, 2013, Coronus paid the balance amount of $32,000, retiring the vendor's note. Accordingly, Coronus then owned the 29-Palms North (Original) Parcel unencumbered. On September 13, 2013, Coronus transferred ownership of the 29-Palms North (Original) Parcel to us, to settle $40,000 in debt owing to us by Coronus. At this point in time, we have opted not to pursue interconnection agreements for solar power systems sited on this parcel. Based on the feedback we received from SCE’s engineers, the anticipated grid upgrade costs to accommodate the systems are currently prohibitive. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

~~CORONUS~~ On ~~SOLAR~~January ~~INC~~24, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Newberry Springs Agreement”) to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California (the “Newberry Springs Parcel”). The purchase price was $45,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only (the “Note”). The transaction closed on March 17, 2011. On May 9, 2013, the parties agreed on a one-year extension to the Note. All other terms of the Note remained the same. On September 13, 2013, Coronus transferred ownership of the Newberry Springs Parcel to us, to settle $8,000 in debt owing to us by Coronus. As part of the transaction, we assumed the obligations under the Note.

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (Athe “29-Palms ~~Development~~Morongo ~~Stage~~Agreement”) ~~Enterprise~~to acquire a 24.23 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms Morongo Parcel”). On January 31, 2013, the parties to the 29-Palms Morongo Agreement replaced Coronus as purchaser with our wholly-owned Delaware subsidiary, Coronus 29-Palms Morongo LLC (“Coronus 29-Palms Morongo”). The purchase price for the land is $86,683, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $85,683 within sufficient time to close escrow. Effective May 3, 2013, the parties amended the 29-Palms Morongo Agreement, wherein the parties agreed to an option arrangement where an option (the “Option”) to purchase the 29-Palms Morongo Parcel was adopted, with the following terms: 1) Coronus 29-Palms Morongo pays monthly payments equal to 6% per annum of the purchase price, or $433.42 per month, 2) the monthly payments are applied to the purchase price, provided Coronus 29-Palms Morongo exercises the Option, otherwise the payments are forfeited to the seller, 3) the term of the Option is 24 months, 4) failure to make the monthly payment terminates the Option, and 5) during the term of the Option, the seller provides the necessary consent for Coronus 29-Palms Morongo to apply for a conditional use permit from the County of San Bernardino. We replaced Coronus as purchaser with Coronus 29-Palms Morongo to settle $1,000 in debt owing to us by Coronus, which equaled the deposit Coronus paid on entering into the 29-Palms Morongo Agreement.

~~Notes~~ On March 31, 2013, Coronus assigned the Southern California Edison (“SCE”) utility interconnection request for project Coronus 29-Palms Morongo to ~~Consolidated~~Coronus ~~Financial~~29-Palms Morongo ~~Statements~~LLC, to settle $10,000 in debt owing to us by Coronus, which equaled the original deposit Coronus paid to SCE on entering into the system impact study agreement. To date, we have obtained the interconnection study results, revised as of September 30, 2013, for the one 1.5 MW solar PV power system sited on this parcel. The initial and second interconnection financial security postings for this project, totaling 30% of the revised interconnection cost estimate of $462,700, or $138,810, is due on or before February 14, 2014.

On May 10, 2011, we conducted a non-brokered private placement, issuing 350,000 units (~~Expressed~~the in“Units”), Uat a price of CAD$0.S60 per Unit, for proceeds of CAD$210,000, to one investor. ~~Dollars)~~Each Unit was comprised of one share of our common stock and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further share of our common stock at an exercise price of CAD$0.75 for a period of five years. The investor continues to hold the warrants.

~~Period~~ On ~~Ended~~October ~~June~~24, 302011, ~~2013~~we conducted a non-brokered private placement, issuing 17,000 units (the “Units”), at a price of CAD$0.60 per Unit, for proceeds of CAD$10,200, to one investor. Each Unit was comprised of one share of our common stock and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further share of our common stock at an exercise price of CAD$0.75 for a period of five years. The investor continues to hold the warrants.

~~Note 11 – Liabilities Held for Sale~~ -35- ~~Continued~~

( On February 2, 2012, we conducted a non-brokered private placement, issuing a senior secured, convertible promissory note (the “Adair Note”) ~~Senior~~and ~~Secured~~transferrable warrant ~~Promissory~~(the “Adair Warrant”) to Russell Adair, for proceeds of CAD$50,000. The Adair Note -matured ~~Continued~~on February 2, 2013 and bore interest at an annual rate of 12%, payable in cash at maturity, prepayment or conversion. At or before maturity, the Adair Note and any accrued interest were convertible at the holder’s option into shares of our common stock, at a price of CAD$0.60 per share. On April 20, 2012, we repaid Mr. Adair, in full, the CAD$50,000 in principal and CAD$1,282.20 in interest owning against the Adair Note. The Adair Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Adair continues to hold the Adair Warrant.

On ~~August~~February 923, ~~2013~~2012, bywe ~~way~~conducted ofa ~~addendum~~non-brokered private placement, issuing a senior secured, convertible promissory note (the “~~Loan~~Zakaib ~~Addendum~~Note”), and transferrable warrant (the ~~Maturity~~“Zakaib ~~Date~~Warrant”) ~~under~~to ~~the~~Frank ~~Loan~~Zakaib, ~~was~~for ~~extended~~proceeds of CAD$50,000. The Zakaib Note ismatured ~~now~~on ~~due~~February on2, ~~the~~2013 ~~earlier~~and ofbore i)interest ~~the~~at ~~date~~an annual rate of ~~the Meeting~~12%, payable in ~~the~~cash ~~event~~at ~~that~~maturity, prepayment or conversion. At or before maturity, the ~~Share~~Zakaib ~~Purchase~~Note and ~~Development~~any ~~Services~~accrued ~~Agreement~~interest iswere ~~not~~convertible ~~approved~~ at the ~~Meeting,~~holder’s oroption ~~ii)~~into ~~the~~shares ~~close~~of our common stock, at a price of ~~business~~CAD$0.60 onper share. ~~the~~On ~~Closing~~April ~~Date~~20, as2012, ~~defined~~we repaid Mr. Zakaib, in full, the ~~Share~~CAD$50,000 ~~Purchase~~in principal and ~~Development~~CAD$936.99 ~~Services~~in ~~Agreement~~interest ~~[see~~owning against the Zakaib Note. ~~16(b)]~~The Zakaib Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Zakaib continues to hold the Zakaib Warrant.

Effective September 1, 2013, we engaged Earthlight Solar Inc. (b“Earthlight”) ~~Notes~~as ~~Payable~~a consultant (the “Earthlight Engagement”), with Earthlight providing us with advisory and consulting services (the “Earthlight Services”) in respect of our solar PV business. Under the Earthlight Engagement, we were to pay Earthlight CAD$10,000 per month for the Earthlight Services. Mark Burgert, a control person of us, is the president and a control person of Earthlight. On November 4, 2013, the parties amended the Earthlight Engagement (the “Amended Earthlight Engagement”). Under the Amended Earthlight Engagement, we are to pay Earthlight CAD$10,000 per month for the Earthlight Services up to November 30, 2013. Effective December 1, 2013, we are to pay Earthlight 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement.

~~Notes~~ Effective January ~~payable~~1, at2013, ~~June~~Coronus, 30our previously owned, ~~2013~~wholly-owned issubsidiary, ~~summarized~~had engaged Earthlight as ~~follows:~~a consultant (the “Previous Earthlight Engagement”), with Earthlight providing Coronus with advisory and consulting services (the “Previous Earthlight Services”) in respect of Coronus’ solar PV business. Under the Previous Earthlight Engagement, Coronus paid Earthlight $8,000 per month for the Previous Earthlight Services. Effective September 1, 2013, Coronus and Earthlight terminated the Previous Earthlight Engagement.

		June 30,		March 31,
Vacant Land		2013		2013
Joshua Tree East	$	-	$	170,000
Adelanto West		235,534		235,534
Yucca Valley East		136,380		136,380
Newberry Springs		-		37,100
Newberry Springs	$	37,100	$	-
Joshua Tree East		170,000		-
29-Palms North		-		32,084
AppleValley East (Nguyen)		-		200,000
Total	$	579,014	$	811,098

Effective September 1, 2013, we engaged RenewTrek Solar Inc. (“RenewTrek”) as a consultant (the “RenewTrek Engagement”), with RenewTrek providing us with advisory and consulting services (the “RenewTrek Services”) in respect of our solar PV business. Under the RenewTrek Engagement, we were to pay RenewTrek CAD$10,000 per month for the RenewTrek Services. Jeff Thachuk, our president, principal executive officer, secretary, treasurer, principal financial officer, principal accounting officer, and a member of our board of directors, is the president and a control person of RenewTrek. On September 1, 2013, our board of directors approved the RenewTrek Engagement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the RenewTrek Engagement. On November 4, 2013, the parties amended the RenewTrek Engagement (the “Amended RenewTrek Engagement”). Under the Amended RenewTrek Engagement, we are to pay RenewTrek CAD$10,000 per month for the RenewTrek Services up to November 30, 2013. Effective December 1, 2013, we are to pay RenewTrek 10% of the cash value received of the Redwood Debenture, in return for performing those certain development services in respect of the twelve anticipated, utility-scale, solar PV projects under the Share Purchase and Development Services Agreement. As a director of our company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the Amended RenewTrek Engagement.

On March 17, 2011, Coronus completed the Newberry Springs Vacant Land Purchase Agreement to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On May 9, 2013, the parties agreed on a one-~~year~~36- extension to the balance amount note. All other terms remain the same, and monthly interest will continue to be paid throughout the extension. At June 30, 2013, the Company has accrued interest payable of $100 (March 31, 2013: $100).

~~On May 16~~ Historically, we ~~2011,~~paid ~~Coronus completed the 29-Palms North Vacant Land Purchase Agreement to acquire a 39~~Mr.25 ~~acre~~Thachuk ~~parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of~~ CAD$328,000 ~~for two years at 6.5%~~ per ~~annum~~month ~~interest,~~to ~~with~~serve ~~monthly~~as ~~payments~~our ofprincipal ~~interest only~~executive officer. OnEffective ~~May~~September 171, 2013, ~~Coronus~~Mr. ~~paid~~Thachuk ~~the~~no ~~balance~~longer ~~amount~~receives ~~of $32~~this salary,~~000,~~ ~~retiring~~but ~~the~~continues ~~vendor's~~to ~~note.~~serve Atas ~~June~~our ~~30,~~principal ~~2013,~~executive ~~the Company has accrued interest payable of $nil (March 31, 2013: $84)~~officer.

~~-25-~~ As at September 30, 2013, our total current assets were $1,375,568 and our total current liabilities were $402,768, resulting in working capital of $972,800.

~~Table~~Off ofBalance ~~Contents~~Sheet Arrangements

~~CORONUS~~ We ~~SOLAR~~have ~~INC~~no off balance sheet arrangements.

(ACritical ~~Development~~Accounting ~~Stage~~Policies ~~Enterprise)~~

~~Notes~~ There tohave ~~Consolidated~~been ~~Financial~~no ~~Statements~~material changes in our existing accounting policies and estimates from the disclosures included in our 2013 Form 10-K, except for the newly adopted accounting policies as disclosed in the interim financial statements.

~~(Expressed~~ITEM ~~in U~~3.S. ~~Dollars)~~QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

~~Period~~ We are ~~Ended~~a ~~June~~smaller ~~30,~~reporting ~~2013~~company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

~~Note~~ITEM 114. –CONTROLS ~~Liabilities~~AND ~~Held for Sale - Continued~~PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) ~~Notes~~as ~~Payable~~of -the ~~Continued~~end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are effective.

On There was ~~June~~no ~~30,~~change ~~2011, Coronus completed the Joshua Tree East Vacant Land Purchase Agreement to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree,~~ in ~~the~~our ~~County~~internal ofcontrol ~~San~~over ~~Bernardino,~~financial ~~California.~~reporting ~~The~~during ~~vendor agreed to carry back~~ the quarter ~~balance~~ended ~~amount~~September ~~of $170~~30,~~000~~ ~~for~~2013 ~~three~~that ~~years~~has atmaterially ~~6.5% per annum interest~~affected, ~~with~~or ~~monthly~~is ~~payments~~reasonably likely ofto ~~interest~~materially ~~only. At June 30~~affect, ~~2013,~~our ~~the~~internal ~~Company~~control ~~has~~over ~~accrued~~financial ~~interest payable of $nil (March 31, 2013: $nil)~~reporting.

OnPART ~~April 19, 2012, Coronus completed the Adelanto West Vacant Land Purchase Agreement to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California~~II. ~~The~~– ~~vendor~~OTHER ~~agreed~~INFORMATION to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. At June 30, 2013, the Company has accrued interest payable of $534 (March 31, 2013: $534).

OnITEM ~~August 17, 2012, Coronus completed the Yucca Valley East Vacant Land Purchase Agreement to acquire a 34~~1A.07 ~~acre~~RISK ~~parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California~~FACTORS. The vendor agreed to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At June 30, 2013, the Company has accrued interest payable of $380 (March 31, 2013: $380).

On We ~~December~~are ~~8, 2012, Coronus entered into~~ a ~~Vacant~~smaller ~~Land~~reporting ~~Purchase~~company ~~Agreement~~as ~~[the~~defined ~~“Apple~~by ~~Valley~~Rule ~~East Re~~12b-~~Site~~2 ~~Agreement (Nguyen)”] to acquire a 14.78 acre parcel~~ of ~~vacant~~the ~~land,~~Securities Exchange ~~situated~~Act ~~east~~ of ~~Apple~~1934 ~~Valley, in the County of San Bernardino, California. The purchase price was $300,000. Coronus paid $100,000~~ and ~~the~~are ~~vendor~~not ~~agreed~~required to ~~carry~~provide ~~back~~ the ~~balance~~information ~~amount~~under ~~of $200,000 for three months at 0% interest~~this item. ~~The transaction closed on January 7, 2013, and on April 3, 2013, Coronus paid out the balance amount of $200,000, retiring the note.~~

~~Note~~-37- ~~12 – Stockholders’ Equity~~

~~(a)~~ITEM ~~Common~~6. ~~Stock~~EXHIBITS.

On December 5, 2001, the Company (i) issued 6,750,000 common shares for cash to the founder and sole director of the Company at $0.0002 per share; (ii) issued 75,000 common shares for service to a party related to the founder of the Company at $0.0525 per share; and (iii) issued 300,000 common shares for cash to the sole director of the Company pursuant to a private placement at $0.0525 per share. The Company recorded the 6,750,000 shares issued to the founder at fair value at $0.0525 per share and recorded a stock based compensation of $352,337.

		Incorporated by reference			Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1

3.2	Bylaws.	S-1	11/07/08	3.2

3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3

3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4

3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5

3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1

4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1

10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1

10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2

10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3

10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4

10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5

10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6

10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7

10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1

10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1

10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10

10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11

10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12

10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13

10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14

10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15

10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16

10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17

10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1

10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1

10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2

10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3

10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22

-2638-

Table of Contents

10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23

10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24

10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25

10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26

10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27

10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28

10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29

10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30

10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31

10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32

10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33

10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34

10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35

10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1

10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37

10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38

10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39

10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40

10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41

10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42

10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43

10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44

10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45

10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46

10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47

10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48

10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49

10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50

10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51

10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52

~~CORONUS~~ -39- ~~SOLAR INC.~~

(A Development Stage Enterprise)

10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53

10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54

10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55

10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56

10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57

10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58

10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59

10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60

10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61

10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62

10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63

10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64

10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65

10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66

10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67

10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68

10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69

10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70

10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71

10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72

10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73

10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74

10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75

10.76	Consent Agreement.	10-K	6/29/12	10.76

10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77

10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78

~~Notes~~ -40- ~~to Consolidated Financial Statements~~

(Expressed in U.S. Dollars)

10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79

10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80

10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81

10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82

10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83

10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84

10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85

10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86

10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87

10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88

10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89

10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90

10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91

10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92

10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93

10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94

10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95

10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96

10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97

10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1

10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1

10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2

10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3

10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4

10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5

10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6

10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7

10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8

10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1

10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.	10-Q	12/14/12	10.1

~~Period~~ -41- ~~Ended June 30, 2013~~

Note 12 – Stockholders’ Equity - Continued

10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.	10-Q	12/14/12	10.2

10.110	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH RE-SITE.	10-Q	2/14/13	10.110

10.111	Phoenix – Biological Habitat Assessment Agreement.	10-Q	2/14/13	10.111

10.112	Phoenix – Cultural Resources Assessment Agreement.	10-Q	2/14/13	10.112

10.113	Power Purchase Agreement – Coronus Joshua Tree East 1 LLC.	10-Q	2/14/13	10.113

10.114	Power Purchase Agreement – Coronus Joshua Tree East 2 LLC.	10-Q	2/14/13	10.114

10.115	Power Purchase Agreement – Coronus Joshua Tree East 3 LLC.	10-Q	2/14/13	10.115

10.116	Power Purchase Agreement – Coronus Joshua Tree East 4 LLC.	10-Q	2/14/13	10.116

10.117	Power Purchase Agreement – Coronus Joshua Tree East 5 LLC.	10-Q	2/14/13	10.117

10.118	Power Purchase Agreement – Coronus Apple Valley East 1 LLC.	10-Q	2/14/13	10.118

10.119	Power Purchase Agreement – Coronus Apple Valley East 2 LLC.	10-Q	2/14/13	10.119

10.120	Vacant Land Purchase Agreement – APPLE VALLEY EAST RE-SITE.	10-Q	2/14/13	10.120

10.121	Facilities Study Agreement – APPLE VALLEY EAST 1.	10-Q	2/14/13	10.121

10.122	Facilities Study Agreement – APPLE VALLEY EAST 2.	10-Q	2/14/13	10.122

10.123	Clean Focus Loan – Promissory Note.	10-Q	2/14/13	10.123

10.124	Clean Focus Loan – Security Agreement.	10-Q	2/14/13	10.124

10.125	Clean Focus Loan – Guaranty.	10-Q	2/14/13	10.125

10.126	Clean Focus Loan – Collateral Assignment of Member Interests.	10-Q	2/14/13	10.126

10.127	Clean Focus Loan – Collateral Assignment of Stock.	10-Q	2/14/13	10.127

10.128	Clean Focus Loan – Earthlight Advisory & Consulting Services Agreement.	10-Q	2/14/13	10.128

10.129	Coronus – Earthlight Consulting Services Agreement.	10-Q	2/14/13	10.129

10.130	Aegis Solar Power System Sales Agreement.	10-Q	2/14/13	10.130

10.131	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (December 31, 2012 Addendum).	10-Q	2/14/13	10.131

10.132	Power Purchase Agreement – Coronus Adelanto West 1 LLC.	10-Q	2/14/13	10.132

10.133	Power Purchase Agreement – Coronus Adelanto West 2 LLC.	10-Q	2/14/13	10.133

10.134	Power Purchase Agreement – Coronus Yucca Valley East 3 LLC.	10-Q	2/14/13	10.134

10.135	Facilities Study Agreement – JOSHUA TREE EAST 5.	10-Q	2/14/13	10.135

10.136	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (January 31, 2013 Addendum).	10-Q	2/14/13	10.136

10.137	Phoenix – Biological Survey Agreement.	10-K	7/02/13	10.137

10.138	Facilities Study Agreement – ADELANTO WEST 1.	10-K	7/02/13	10.138

10.139	Facilities Study Agreement – ADELANTO WEST 2.	10-K	7/02/13	10.139

10.140	Master Services Agreement – Belectric, Inc.	10-K	7/02/13	10.140

~~(a) Common Stock~~ -42- ~~Continued~~

For the fiscal year ended March 31, 2003, the Company issued (i) 235,294 units for cash at $0.055 per unit for total proceeds of $12,916; (ii) issued 500,004 common shares for cash at $0.0725 per share for total proceeds of $36,326; (iii) issued 235,294 common shares upon the exercise of warrants for cash at $0.055 per share for total proceeds of $12,916; and (iv) issued 22,222 common shares for the settlement of debt at $0.0725 per share for the total debt of $1,615. In connection with the above unit issuance, each unit consisted of one common share and one share purchase warrant with an exercise price at $0.055 per share. The Company adopted the residual approach and allocated the total proceeds to the common shares and $nil to the share purchase warrants.

10.141	Vacant Land Purchase Agreement – YUCCA VALLEY EAST #2.	10-K	7/02/13	10.141

10.142	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (March 24, 2013 Addendum).	10-K	7/02/13	10.142

10.143	Mutual Release & Termination Agreement – Belectric, Inc.	10-K	7/02/13	10.143

10.144	Clean Focus Loan – First Addendum to Promissory Note.	10-K	7/02/13	10.144

10.145	Cancellation Instructions – PHELAN SOUTH.	10-K	7/02/13	10.145

10.146	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (May 3, 2013 Addendum).	10-K	7/02/13	10.146

10.147	Clean Focus Loan – Second Addendum to Promissory Note.	10-K	7/02/13	10.147

10.148	Share Purchase and Development Services Agreement.	8-K	8/15/13	10.1

10.149	Form of Lock-Up Agreement	8-K	8/15/13	10.2

10.150	Form of Proxy.	8-K	8/15/13	10.3

10.151	Clean Focus Loan – Fourth Addendum to Promissory Note.	8-K	8/15/13	10.4

10.152	Consulting Services Agreement – EarthLight.	8-K	9/30/13	10.1

10.153	Consulting Services Agreement – RenewTrek.	8-K	9/30/13	10.2

10.154	Amended Consulting Services Agreement – EarthLight.	8-K	11/5/13	10.1

10.155	Amended Consulting Services Agreement – RenewTrek.	8-K	11/5/13	10.2

14.1	Code of Ethics.	S-1	11/07/08	14.1

14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2

31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X

32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X

99.1	Audit Committee Charter.	S-1	11/07/08	99.1

99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2

99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3

101.INS	XBRL Instance Document.				X

101.SCH	XBRL Taxonomy Extension – Schema.				X

101.CAL	XBRL Taxonomy Extension – Calculations.				X

101.DEF	XBRL Taxonomy Extension – Definitions.				X

101.LAB	XBRL Taxonomy Extension – Labels.				X

101.PRE	XBRL Taxonomy Extension – Presentation.				X

~~For~~ -43- the fiscal year ended March 31, 2004, the Company (i) issued 500,006 common shares for cash at $0.0835 per share for total proceeds of $41,644; and (ii) issued 66,666 common shares for the settlement of the debt at $0.0835 for the total debt of $5,552.

~~For~~SIGNATURES the fiscal year ended March 31, 2005, the Company (i) issued 1,200,000 units for cash at $0.039 per unit for total proceeds of $47,054; and (ii) issued 1,910,000 common shares for cash at $0.039 per share for total proceeds of $74,895. Each unit consisted of one common share and one share purchase warrant with an exercise price at $0.039 per share. The Company adopted the residual approach and allocated the total proceeds to the common stocks and $nil to the share purchase warrants

~~For~~ Pursuant to the ~~fiscal~~requirements ~~year~~of ~~ended March 31, 2006,~~ the ~~Company~~Securities Exchange ~~(i)~~Act ~~issued~~of ~~300~~1934,~~000~~ ~~common~~this ~~shares~~report athas ~~$0.042~~been ~~per~~signed ~~share~~below ~~pursuant~~by to the ~~exercise~~following ofperson on ~~warrants~~behalf ~~for total proceeds~~ of ~~$12,578;~~the Registrant and ~~(ii)~~in ~~issued~~the ~~395,600~~capacities ~~common~~on ~~shares~~this at13th day ~~$0.042 per share for the settlement~~ of ~~debt of $16~~November,~~586~~ 2013.

~~For~~CORONUS ~~the~~SOLAR ~~fiscal year ended March 31, 2007, the Company issued 1,000,000 common shares for cash at $0~~INC.~~044~~ (Registrant) ~~per share for total proceeds of $43,948.~~

~~For~~BY: ~~the~~/s/ ~~fiscal~~Jeff ~~year~~Thachuk ~~ended~~Jeff ~~March~~Thachuk 31President, ~~2008,~~Principal ~~the~~Executive ~~Company~~Officer, ~~issued~~Principal 52Accounting Officer,~~500~~ ~~common~~Principal ~~shares~~Financial atOfficer, ~~$0.0485~~Secretary, ~~per~~Treasurer ~~share~~and ~~for~~member of the ~~settlement~~Board of ~~debt of $2,548.~~Directors

On-44- November 2, 2009, the Company issued 2,000,000 common shares in connection with the acquisition of all the issued and outstanding shares of Coronus at a deemed value of $0.025 per share. These shares were recorded, proportionately with the shares transferred by Mr. Jeff Thachuk to Mr. Mark Burgert, based on the fair value of the assets acquired.

OnEXHIBIT ~~January~~INDEX 21, 2011, the Company completed a non-brokered private placement, issuing 212,500 shares of common stock to eleven investors, at a price of CAD$0.402 per share, for gross proceeds of CAD$85,000. In connection with the completion of the private placement, the Company paid CAD$7,500 in finder’s fees in cash, to certain arm’s length parties, and CAD$6,807 in legal, accounting, transfer agent and filing fees.

-27-

		Incorporated by reference			Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1

3.2	Bylaws.	S-1	11/07/08	3.2

3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3

3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4

3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5

3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1

4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1

10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1

10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2

10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3

10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4

10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5

10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6

10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7

10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1

10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1

10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10

10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11

10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12

10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13

10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14

10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15

10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16

10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17

10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1

10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1

10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2

10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3

10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22

~~Table~~-45- ~~of Contents~~

CORONUS SOLAR INC.

10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23

10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24

10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25

10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26

10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27

10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28

10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29

10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30

10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31

10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32

10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33

10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34

10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35

10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1

10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37

10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38

10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39

10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40

10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41

10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42

10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43

10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44

10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45

10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46

10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47

10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48

10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49

10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50

10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51

10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52

(A-46- ~~Development Stage Enterprise)~~

Notes to Consolidated Financial Statements

10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53

10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54

10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55

10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56

10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57

10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58

10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59

10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60

10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61

10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62

10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63

10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64

10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65

10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66

10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67

10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68

10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69

10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70

10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71

10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72

10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73

10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74

10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75

10.76	Consent Agreement.	10-K	6/29/12	10.76

10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77

10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78

~~(Expressed~~-47- ~~in U.S. Dollars)~~

Period Ended June 30, 2013

10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79

10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80

10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81

10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82

10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83

10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84

10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85

10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86

10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87

10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88

10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89

10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90

10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91

10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92

10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93

10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94

10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95

10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96

10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97

10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1

10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1

10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2

10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3

10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4

10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5

10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6

10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7

10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8

10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1

10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.	10-Q	12/14/12	10.1

~~Note 12 – Stockholders’ Equity~~ -48- ~~Continued~~

(a) Common Stock - Continued

10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.	10-Q	12/14/12	10.2

10.110	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH RE-SITE.	10-Q	2/14/13	10.110

10.111	Phoenix – Biological Habitat Assessment Agreement.	10-Q	2/14/13	10.111

10.112	Phoenix – Cultural Resources Assessment Agreement.	10-Q	2/14/13	10.112

10.113	Power Purchase Agreement – Coronus Joshua Tree East 1 LLC.	10-Q	2/14/13	10.113

10.114	Power Purchase Agreement – Coronus Joshua Tree East 2 LLC.	10-Q	2/14/13	10.114

10.115	Power Purchase Agreement – Coronus Joshua Tree East 3 LLC.	10-Q	2/14/13	10.115

10.116	Power Purchase Agreement – Coronus Joshua Tree East 4 LLC.	10-Q	2/14/13	10.116

10.117	Power Purchase Agreement – Coronus Joshua Tree East 5 LLC.	10-Q	2/14/13	10.117

10.118	Power Purchase Agreement – Coronus Apple Valley East 1 LLC.	10-Q	2/14/13	10.118

10.119	Power Purchase Agreement – Coronus Apple Valley East 2 LLC.	10-Q	2/14/13	10.119

10.120	Vacant Land Purchase Agreement – APPLE VALLEY EAST RE-SITE.	10-Q	2/14/13	10.120

10.121	Facilities Study Agreement – APPLE VALLEY EAST 1.	10-Q	2/14/13	10.121

10.122	Facilities Study Agreement – APPLE VALLEY EAST 2.	10-Q	2/14/13	10.122

10.123	Clean Focus Loan – Promissory Note.	10-Q	2/14/13	10.123

10.124	Clean Focus Loan – Security Agreement.	10-Q	2/14/13	10.124

10.125	Clean Focus Loan – Guaranty.	10-Q	2/14/13	10.125

10.126	Clean Focus Loan – Collateral Assignment of Member Interests.	10-Q	2/14/13	10.126

10.127	Clean Focus Loan – Collateral Assignment of Stock.	10-Q	2/14/13	10.127

10.128	Clean Focus Loan – Earthlight Advisory & Consulting Services Agreement.	10-Q	2/14/13	10.128

10.129	Coronus – Earthlight Consulting Services Agreement.	10-Q	2/14/13	10.129

10.130	Aegis Solar Power System Sales Agreement.	10-Q	2/14/13	10.130

10.131	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (December 31, 2012 Addendum).	10-Q	2/14/13	10.131

10.132	Power Purchase Agreement – Coronus Adelanto West 1 LLC.	10-Q	2/14/13	10.132

10.133	Power Purchase Agreement – Coronus Adelanto West 2 LLC.	10-Q	2/14/13	10.133

10.134	Power Purchase Agreement – Coronus Yucca Valley East 3 LLC.	10-Q	2/14/13	10.134

10.135	Facilities Study Agreement – JOSHUA TREE EAST 5.	10-Q	2/14/13	10.135

10.136	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (January 31, 2013 Addendum).	10-Q	2/14/13	10.136

10.137	Phoenix – Biological Survey Agreement.	10-K	7/02/13	10.137

10.138	Facilities Study Agreement – ADELANTO WEST 1.	10-K	7/02/13	10.138

10.139	Facilities Study Agreement – ADELANTO WEST 2.	10-K	7/02/13	10.139

10.140	Master Services Agreement – Belectric, Inc.	10-K	7/02/13	10.140

~~On March 31, 2011, the Company and its wholly~~-~~owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a purchase agreement for utility~~49-~~scale,~~ ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a deemed value of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress.

On May 10, 2011, the Company completed a non-brokered private placement of 350,000 units at a price of CAD $0.60 per unit for proceeds of CAD $210,000. Each unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$90,000 ($93,652).

10.141	Vacant Land Purchase Agreement – YUCCA VALLEY EAST #2.	10-K	7/02/13	10.141

10.142	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (March 24, 2013 Addendum).	10-K	7/02/13	10.142

10.143	Mutual Release & Termination Agreement – Belectric, Inc.	10-K	7/02/13	10.143

10.144	Clean Focus Loan – First Addendum to Promissory Note.	10-K	7/02/13	10.144

10.145	Cancellation Instructions – PHELAN SOUTH.	10-K	7/02/13	10.145

10.146	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (May 3, 2013 Addendum).	10-K	7/02/13	10.146

10.147	Clean Focus Loan – Second Addendum to Promissory Note.	10-K	7/02/13	10.147

10.148	Share Purchase and Development Services Agreement.	8-K	8/15/13	10.1

10.149	Form of Lock-Up Agreement	8-K	8/15/13	10.2

10.150	Form of Proxy.	8-K	8/15/13	10.3

10.151	Clean Focus Loan – Fourth Addendum to Promissory Note.	8-K	8/15/13	10.4

10.152	Consulting Services Agreement – EarthLight.	8-K	9/30/13	10.1

10.153	Consulting Services Agreement – RenewTrek.	8-K	9/30/13	10.2

10.154	Amended Consulting Services Agreement – EarthLight.	8-K	11/5/13	10.1

10.155	Amended Consulting Services Agreement – RenewTrek.	8-K	11/5/13	10.2

14.1	Code of Ethics.	S-1	11/07/08	14.1

14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2

31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X

32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X

99.1	Audit Committee Charter.	S-1	11/07/08	99.1

99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2

99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3

101.INS	XBRL Instance Document.				X

101.SCH	XBRL Taxonomy Extension – Schema.				X

101.CAL	XBRL Taxonomy Extension – Calculations.				X

101.DEF	XBRL Taxonomy Extension – Definitions.				X

101.LAB	XBRL Taxonomy Extension – Labels.				X

101.PRE	XBRL Taxonomy Extension – Presentation.				X

~~On October 24, 2011, the Company completed a non~~-~~brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non~~50-~~transferrable~~ share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$4,470 ($4,452).

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011 [see Note 8]. Under the amended agreement (the “Amended Solar Power Systems Agreement”), 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, at the deemed price of $1.05 per share. The fair value per share at the date of cancellation was $0.60.

As at June 30, 2013, 10,226,900 (March 31, 2013: 10,226,900) shares of the Company’s common stock were restricted shares.

(b) Stock Options

Since inception, the Company has entered into various stock option agreements with its directors, employees and consultants.

During the period ended June 30, 2013 and year ended March 31, 2013, there were no options granted or exercised.

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Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 12 – Stockholders’ Equity - Continued

(b) Stock Options - Continued

Changes in stock options for the period ended June 30, 2013 and year ended March 31, 2013 are summarized as follows:

	Options Outstanding
	Number of		Weighted average
	shares		exercise price
Balance, March 31, 2012	745,000	$	0.065
Expired	(5,000)		0.105
Balance, March 31, 2013 and June 30, 2013	740,000	$	0.065

The Company has the following options outstanding and exercisable at June 30, 2013:

Outstanding

Exercisable

Weighted

Number

Average

Weighted

Number

Weighted

Range of

Outstanding at

Remaining

Average

Exercisable at

Average

Exercise

June 30,

Contractual

Exercise

March 31,

Exercise

Prices

2013

Life (Years)

Price

2013

Price

0.065

740,000

2.40

0.065

740,000

0.065

The Company has the following options outstanding and exercisable at March 31, 2013:

Outstanding

Exercisable

Weighted

Number

Average

Weighted

Number

Weighted

Range of

Outstanding at

Remaining

Average

Exercisable at

Average

Exercise

March 31,

Contractual

Exercise

March 31,

Exercise

Prices

2013

Life (Years)

Price

2013

Price

0.065

740,000

2.65

0.065

740,000

0.065

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Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 12 – Stockholders’ Equity - Continued

On May 10, 2011, the Company completed a non-brokered private placement, issuing 350,000 units (the “Units”), at a price of CAD$0.60 per Unit, for proceeds of CAD$210,000. Each Unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.257 per warrant using the Black-Scholes option pricing model.

On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.263 per warrant using the Black-Scholes option pricing model.

On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be CAD$0.7816 per warrant using the Black-Scholes option pricing model.

The relative estimated fair value of the warrants in relation to the private placements in May 2011, October 2011, and February 2012 were CAD$90,000 (USD$90,628), CAD$4,470 (USD$4,501), and CAD$56,571 (USD$56,966), respectively, and were allocated to the additional paid-in capital.

During the period ended June 30, 2013 and year ended March 31, 2013, the Company did not issue any warrants. At June 30, 2013, 533,666 (March 31, 2013: 533,666) warrants remained outstanding.

-30-

Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 12 – Stockholders’ Equity - Continued

The Company has the following warrants outstanding at June 30, 2013:

								Exercise	Average
Balance	Issued	Exercised	Cancelled	Balance		Exercise		price	Remaining
as at	during the	during the	during the	as at		price		(USD	Contractual
2013-03-31	period	period	period	2013-06-30		(CAD)		equivalent)	Life in Years
350,000	-	-	-	350,000	$	0.75	$	0.75	2.86
17,000	-	-	-	17,000	$	0.75		0.75	3.32
166,666	-	-	-	166,666	$	0.75		0.75	3.60
533,666	-	-	-	533,666	$	0.75	$	0.75	3.11

The Company has the following warrants outstanding at March 31, 2013:

								Exercise	Average
Balance	Issued	Exercised	Cancelled	Balance		Exercise		price	Remaining
as at	during the	during the	during the	as at		price		(USD	Contractual
2012-03-31	period	period	period	2013-03-31		(CAD)		equivalent)	Life in Years
350,000	-	-	-	350,000	$	0.75	$	0.75	3.11
17,000	-	-	-	17,000	$	0.75		0.75	3.57
166,666	-	-	-	166,666	$	0.75		0.75	3.85
533,666	-	-	-	533,666	$	0.75	$	0.75	3.37

The warrants are not a derivative instrument.

Note 13 – Contingent Liabilities

Management of the Company has opted for the Company to self-insure against business and liability risks rather than purchase third party insurance coverage. Consequently the Company is exposed to financial losses or failure as a result of these risks.

Note 14 – Related Party Transactions

During the period ended June 30, 2013, the Company paid $293 (2012: $300) in director fees to the directors of the Company.

During the period ended June 30, 2013, $24,571 (2012: $25,113) of compensation were paid to a director and shareholder.

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Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 14 – Related Party Transactions - Continued

As at June 30, 2013, included in accounts payable, $229 (March 31, 2013: $2,586) was owed to directors and/or principals of the Company.

Other related party transactions

(i) Industry Solar PV Asset Sale Agreement

On October 24, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Industry Solar PV Asset Sale Agreement”) with Solar Krafte Utilities Inc. (“Solar Krafte”). Solar Krafte held a contract to purchase Industry Solar Power Generation Station 1 LLC (“Industry”). Under the Industry Solar PV Asset Sale Agreement, Coronus agreed to purchase Industry from Solar Krafte for $1,250,000 (the “Cash Price”). Industry was a party to a Power Purchase Agreement (the “Industry PPA”) with SCE, under the CREST tariff, for a 1.5 MW concentrated photovoltaic power system (the “Industry System”). On entering into the Industry Solar PV Asset Sale Agreement, Coronus deposited $40,000 with Solar Krafte, refundable to Coronus if SCE refused to approve 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Not having received SCE’s approval, on March 27, 2013, Coronus exercised its right to terminate the Industry Solar PV Asset Sale Agreement, and on March 27, 2013, Solar Krafte refunded the $40,000 deposit. Jeff Thachuk, the Company’s president and a control person of the Company, is the chairman, chief executive officer, and a control person of Solar Krafte. Mark Burgert, a shareholder of the Company, is the president and a control person of Solar Krafte. On October 24, 2012, the Company’s board of directors approved Coronus’ entry into the Industry Solar PV Asset Sale Agreement, and on March 27, 2013, the Company’s board of directors approved Coronus’ termination of the Industry Solar PV Asset Sale Agreement. As a director of the Company, Mr. Thachuk declared his interest in the transaction and abstained from voting on both the approval and termination of the Industry Solar PV Asset Sale Agreement.

(ii) Earthlight Agency Fee

On December 20, 2012, Coronus and Coronus’ wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC, and Coronus Adelanto West 2 LLC (collectively the “Project Companies”), conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to one investor, Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of up to $4,000,000 (the “Loan”). Pursuant to a schedule of draw dates and amounts, Coronus was to request advances, in whole or in part, of up to the maximum amount of the Loan (each an “Advance”).

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Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 14 – Related Party Transactions - Continued

Other related party transactions - Continued

In connection with the Loan, with each Advance, but not from the proceeds of each Advance, but from Coronus’ unallocated working capital, Coronus was to pay Earthlight Solar Inc. (“Earthlight”) a fee equal to 3% of the principal amount of the Advance. Mark Burgert, a control person of the Company, is the president and a control person of Earthlight. In connection with the Loan, on behalf of Coronus, Earthlight acted as agent. Coronus paid the 3% fee to Earthlight as follows: on December 26, 2012, Coronus paid Earthlight $45,000; on January 4, 2013, Coronus paid Earthlight $15,000; on February 12, 2013, Coronus paid Earthlight $30,000; and on March 11, 2013, Coronus paid Earthlight $30,000.

(iii) Earthlight Consultancy

On December 26, 2012, effective January 1, 2013, Coronus agreed to engage Earthlight to provide Coronus with advisory and consulting services (the “Services”) in respect of Coronus’ solar photovoltaic business. Under the engagement, Coronus is to pay Earthlight $8,000 per month (the “Fee”) for the Services, with the Fee due and payable at the end of each month. During the period ended June 30, 2013, the Company paid $24,000 to Earthlight (2012: $nil).

(iv) Transfer of Vacant Land Purchase Agreement and Interconnection Request

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California, which, effective May 3, 2013, the parties amended, agreeing to an option arrangement where an option to purchase the 24.23 acre parcel of vacant land was adopted. On January 31, 2013, the parties to the 29-Palms Morongo Agreement replaced Coronus as purchaser with the Company’s wholly-owned subsidiary Coronus 29-Palms Morongo LLC. Additionally, on March 31, 2013, Coronus assigned the interconnection request for project Coronus 29-Palms Morongo to Coronus 29-Palms Morongo LLC.

Note 15 – Commitments

(a) Master Services Agreement

On March 20, 2013, Coronus entered into a Master Services Agreement with solar PV systems integrator Belectric, Inc. (“Belectric”), which allows Belectric to perform Conditional Use Permit (“CUP”) application pre-engineering services for Coronus projects Adelanto West, Apple Valley East, 29-Palms North, Yucca Valley East, and Joshua Tree East. The services to be performed for each project are limited to, and may include, ALTA/ topographical surveys, geotechnical reports, water quality management plans, and hydrology studies. The services shall be completed within approximately eight weeks. In respect of invoicing and payment, Belectric shall submit its standard monthly invoice describing the services performed and expenses incurred during the preceding month. Coronus shall make payment of all undisputed portions within thirty calendar days from the date of the invoice. The Company estimates the services will cost approximately $30,000 to $35,000 per project.

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Table of Contents

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 15 – Commitments – Continued

(b) Acquisition of Vacant Land

(i) Phelan South Agreement

On April 25, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “Phelan South Agreement”) to acquire a 40 acre parcel of vacant land, situated in Phelan, an unincorporated community in the County of San Bernardino, California. The purchase price was $350,000, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $349,000 within sufficient time to close escrow. Close of escrow was scheduled March 15, 2013. Between September 30, 2012, and March 15, 2013, Coronus expensed $11,278 of non-refundable payments to the seller, separate and distinct from the purchase. Coronus’ board of directors did not approve the purchase. Effective April 22, 2013, the parties mutually terminated the Phelan South Agreement.

(ii) Yucca Valley East Agreement #2

On March 28, 2013, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement #2”) to acquire a 20 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The purchase price is $100,000. Close of escrow is October 31, 2013. Coronus deposited $10,000 into escrow and agrees to deposit an additional $90,000 within sufficient time to close escrow. The Yucca Valley East Agreement #2 is subject to Coronus receiving permit approval for its solar PV projects Coronus Yucca Valley East 1, 2 and 3 from the County of San Bernardino. See also note 7(a).

(i) Second Posting of Interconnection Financial Security for Project Coronus Yucca Valley East 3

On April 15, 2013, pursuant to the SCE interconnection request for solar PV project Coronus Yucca Valley East 3, Coronus posted with SCE the second interconnection financial security, in the amount of $42,250. This amount was determined by the results of the SIS study SCE commenced with Coronus on June 25, 2012.

(ii) Second Posting of Interconnection Financial Security for Projects Coronus Yucca Valley East 1 and 2

On April 26, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Yucca Valley East 1 and 2, Coronus posted with SCE the initial interconnection financial securities, in the amounts of $12,650 and $34,990, respectively. The posting amounts for the Coronus Yucca Valley East 1 and 2 projects were determined by the results of the SIS studies SCE commenced with Coronus on February 2, 2012.

(iii) Second Posting of Interconnection Financial Security for Project Coronus Apple Valley East 2

On July 27, 2013, pursuant to the SCE interconnection requests for solar PV project Apple Valley East 2, Coronus shall post with SCE the second interconnection financial security, in the amount of $24,580. The posting amount for the Apple Valley East 2 project was determined by the results of the FAS study SCE commenced with Coronus on December 18, 2012.

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CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 15 – Commitments – Continued

(iv) Second Posting of Interconnection Financial Security for Projects Coronus Joshua Tree East 1 and 5

On August 14, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Joshua Tree East 1 and 5, Coronus shall post with SCE the second interconnection financial securities, in the amounts of $66,950 and $171,550, respectively. The posting amount for the Joshua Tree East 1 project was determined by the results of the SIS study SCE commenced with Coronus on February 23, 2012. The posting amount for the Joshua Tree East 5 project was determined by the results of the FAS study SCE commenced with Coronus on January 25, 2013.

(v) Second Posting of Interconnection Financial Security for Projects Coronus Joshua Tree East 2, 3 and 4

On September 3, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Joshua Tree East 2, 3 and 4, Coronus shall post with SCE the second interconnection financial securities, in the amounts of $63,250, $48,650, and $105,450, respectively. The posting amounts for the Joshua Tree East 2 and 3 projects were determined by the results of the SIS studies SCE commenced with Coronus on February 23, 2012. The posting amount for the Joshua Tree East 4 project was determined by the results of the SIS study SCE commenced with Coronus on June 25, 2012.

(vi) Second Posting of Interconnection Financial Security for Projects Coronus Adelanto West 1 and 2

On or around September 3, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Adelanto West 1 and 2, Coronus shall post with SCE the second interconnection financial securities, in the amounts of $18,330 and $19,130, respectively. The posting amounts for the Coronus Adelanto West 1 and 2 projects were determined by the results of the SIS studies SCE commenced with Coronus on April 13, 2012.

(d) Biological Habitat & Cultural Assessments

On November 24, 2012, Coronus entered into a Biological Habitat Assessment Agreement (the “Bio Assessment Agreement”) with Phoenix Biological Consulting, LLC (“Phoenix”), where Phoenix was to conduct field work and prepare biological habitat assessment technical reports (the “Scope of Services”) for Coronus projects Adelanto West, Apple Valley East, Phelan South, Yucca Valley East, Joshua Tree East, 29-Palms North, and 29-Palms Morongo, for submittal to the city and/or county planning department to satisfy the initial biological studies component of the California Environmental Quality Act. The estimated cost for performing the Scope of Services was $32,500. Coronus paid $16,250 on entering into the Bio Assessment Agreement. The balance was due within thirty business days after receipt of the technical reports. Coronus received the technical reports on January 17, 2013, and paid the balance due on January 28, 2013.

On November 24, 2012, Coronus entered into a Cultural Resources Assessment Agreement (the “Cultural Assessment Agreement”) with Phoenix, where Phoenix was to perform cultural records searches, conduct field work, and prepare cultural resources assessment technical reports (the “Scope of Services”) for Coronus projects Adelanto West, Apple Valley East, Phelan South, Yucca Valley East, Joshua Tree East, 29-Palms North, and 29-Palms Morongo, for submittal to the city and/or county planning department to

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CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 15 – Commitments – Continued

(d) Biological Habitat & Cultural Assessments- Continued

satisfy the initial cultural studies component of the California Environmental Quality Act. The estimated cost for performing the Scope of Services was $24,900. Coronus paid $12,450 on entering into the Cultural Assessment Agreement. The balance was due within thirty business days after receipt of the technical reports. Coronus received the technical reports on January 17, 2013, and paid the balance due on January 28, 2013.

On January 26, 2013, Coronus entered into a Biological Survey Agreement (the “Biological Survey Agreement”) with Phoenix, where Phoenix is to perform focused biological surveys for Coronus projects Adelanto West, 29-Palms North, Joshua Tree East, Yucca Valley East, and Apple Valley East. The focused biological survey scope of work includes surveys for desert tortoise, burrowing owl, Mohave ground squirrel, and rare plants. Additionally, the scope of work includes lake and streambed delineation, as well as the development of Joshua tree relocation and management plans. The estimated total cost for performing the work is $137,310. The work was expected to begin, and did, in March, 2013, and will continue up through July, 2013. Coronus is billed at the end of each month for the services rendered during that month, and Coronus pays, and agrees to pay, Phoenix within one month after receiving each invoice.

Note 16 – Subsequent Events

(a) San Bernardino County Moratorium on Approval of Commercial Solar Energy Generation Projects

On June 12, 2013, the San Bernardino County Board of Supervisors approved a 45-day temporary moratorium on approval of commercial solar energy generation projects. The purpose of the moratorium was to prevent establishment of commercial solar energy generation projects that may be incompatible with existing land uses, while the County contemplate potential amendments to the Development Code for the purpose of ensuring and enhancing compatibility between solar energy generation projects and surrounding land uses. Coronus projects 29-Palms North, Yucca Valley East, Joshua Tree East, and Apple Valley East are subject to the moratorium. Coronus project Adelanto West is not.

On July 23, 2013, the Board of Supervisors extended the moratorium for 10 months and 15 days, but said they hoped to put new regulations in place and lift the ban sooner than that. San Bernardino County Land Use Services Department Planning Director Terri Rahhal said the planners are working with a consultant and hope to return to the Board of Supervisors in three to six months with new regulations that would include location criteria, design standards and rules for processing applications. The Board of Supervisors could lift the moratorium at that time.

As a consequence of the moratorium extension, Coronus formally withdrew its SCE interconnection requests for Coronus solar PV systems 29-Palms North 2 and 3. The interconnection time stipulated in the combined system impact and facility study reports for these two systems is 12 months. To meet these interconnection timelines, without exceeding the drop dead timelines of the systems' power purchase agreements (“CREST PPAs”), Coronus would need to start construction now, without delay. In the face of the San Bernardino County permit approval moratorium, this is not possible. As a consequence of the interconnection request withdrawals, Coronus is entitled to a release of the interconnection financial

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CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 16 – Subsequent Events – Continued

(a) San Bernardino County Moratorium on Approval of Commercial Solar Energy Generation Projects- Continued

security postings Coronus deposited with SCE in respect of these two projects, in the cumulative amount of $864,600, less the costs, if any, SCE charged to these two projects.

As a consequence of the moratorium extension, Coronus also put a formal request to SCE to terminate the CREST PPAs in respect of these two projects, and asked SCE to return to Coronus the development securities Coronus posted with SCE under the CREST PPAs, in the amounts of $38,250 and $38,250, respectively.

(b) Second Posting of Interconnection Financial Security for Project Coronus Apple Valley East 2

On July 27, 2013, pursuant to the SCE interconnection requests for solar PV project Apple Valley East 2, Coronus posted with SCE the second interconnection financial security, in the amount of $24,580. The posting amount for the Apple Valley East 2 project was determined by the results of the FAS study SCE commenced with Coronus on December 18, 2012.

On August 9, 2013, the Company and Coronus entered into a share purchase and development services agreement (the “Share Purchase and Development Services Agreement”) with Redwood Solar Development LLC (“Redwood”).

Under the Share Purchase and Development Services Agreement, the Company has agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus, for $8,775,000 (the “Contract Price”). Redwood shall pay the Contract Price by issuing to the Company, a non-interest bearing, secured debenture (the “Redwood Debenture”). The Company’s obligation to complete the sale is subject, in part, to 1) the Company receiving a release from Clean Focus in respect of any further obligations under or in connection with the Loan [see Note 11(a)]; and 2) the approval of the Share Purchase and Development Services Agreement by the Company’s shareholders holding not less than two-thirds of its shares. Redwood’s obligation to complete the purchase is subject, in part, to 1) Redwood receiving lock-up agreements and proxies from the Company’s shareholders holding not less than 80% of the Company’s shares; and 2) the approval of the Share Purchase and Development Services Agreement by the Company’s shareholders holding not less than 80% of the Company’s shares.

Prior to executing the Share Purchase and Development Services Agreement, Redwood received lock-up agreements and proxies from eleven of the Company’s shareholders, who, in aggregate, hold 79.9% of the Company’s shares. On August 14, 2013, Redwood received a further lock-up agreement and proxy from a shareholder who holds 117,000 shares, which now gives rise to lock-up agreements and proxies from twelve of the Company’s shareholders, who, in aggregate, hold 80.6% of the Company’s shares.

The Company is scheduled to hold an annual and special meeting of its shareholders (the “Meeting”) on September 16, 2013, at which time, the Company’s shareholders will vote, by proxy or in person, on whether to approve the Share Purchase and Development Services Agreement. The closing date (the “Closing Date”) means the date on which the closing will occur, which will be not more than three business days following the date of the Meeting.

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CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Period Ended June 30, 2013

Note 16 – Subsequent Events – Continued

In the event the required percentages of the shareholder votes are met under the Share Purchase and Development Services Agreement, upon the transfer of Coronus to Redwood, all then outstanding advances under the Loan, together with all accrued but unpaid interest, will be assumed as part of the transfer. In the event the required percentages of our shareholder votes are not met under the Share Purchase and Development Services Agreement, we shall owe Redwood a break-up fee of $5,000,000, which will be immediately due and payable. In addition, the Loan will be in immediate default, and will become due and payable, with us confessing judgment to the immediate exercise of remedies allowed with respect to the default of the Loan, including, without limitation, a declaration of foreclosure on the Coronus land parcels and the seizure of all assets of Coronus.

The Contract Price is the agreed upon price of $0.39/Wp, which is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and is based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by the Company. The payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to the Company on the execution of the Share Purchase and Development Services Agreement; 2) $9,000 shall be paid to the Company on the Closing Date; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to the Company, estimated to be $36,563 per system; and 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each pro-rata portion paid to the Company on permanent financial close in connection with the construction of each system.

Under the Share Purchase and Development Services Agreement, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the following parameters: installed capacity; development expense budget true-up; interconnection refund true-up; and Coronus financial statements true-up. Under the Share Purchase and Development Services Agreement, forward looking, Redwood agrees to fund, and the Contract Price reflects Redwood funding, certain development expenses that are separate and aside from the Contract Price. The Company understand and agree that the Redwood Debenture security interests received by the Company will be subordinate and junior to the interests securing the Loan, as well as subordinate and junior to all future draws under the Loan where the proceeds are used to fund those certain development expenses.

On August 9, 2013, by way of addendum (the "Loan Addendum"), the Maturity Date under the Loan was extended. The Note is now due on the earlier of i) the date of the Meeting, in the event that the Share Purchase and Development Services Agreement is not approved at the Meeting, or ii) the close of business on the Closing Date as defined in the Share Purchase and Development Services Agreement.

Note 17 – Comparative Figures

Certain figures for the prior period have been reclassified to conform to the current period consolidated financial statements presentation.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

This section of the quarterly report on Form 10-Q includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this quarterly report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operation

Estimates and Assumptions

In the preparation of our financial statements, no estimates have been used since there is insufficient historical information in which to base such estimates.

Trends Affecting Our Business

In the past four years, solar module prices have been reduced by more than half, due to the impact of the global economic downturn, reduced silicon prices, increased polysilicon supply, and a general oversupply of solar modules on the market. Although we expect solar module prices to stay at current levels, or continue to decline, but not as drastically, a rebound in solar module prices would materially impact the viability of our business model, possibly rendering our model nonviable.

Regulatory Risk

On July 2, 2013, on June 12, 2013, the San Bernardino County Board of Supervisors approved a 45-day temporary moratorium on approval of commercial solar energy generation projects. The purpose of the moratorium is to prevent establishment of commercial solar energy generation projects that may be incompatible with existing land uses, while the County contemplate potential amendments to the Development Code for the purpose of ensuring and enhancing compatibility between solar energy generation projects and surrounding land uses. Coronus projects 29-Palms North, Yucca Valley East, Joshua Tree East, and Apple Valley East are subject to the moratorium. Coronus project Adelanto West is not. The moratorium may be extended by further action of the Board of Supervisors, initially for ten months and 15 days and then again for one year.

As a consequence of the moratorium extension, Coronus formally withdrew its SCE interconnection requests for Coronus solar PV systems 29-Palms North 2 and 3. Additionally, as a consequence of the moratorium extension, Coronus also put a formal request to SCE to terminate the PPAs in respect of these two projects.

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Plan of Operation for the Next Twelve Months

On August 9, 2013, we and our wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a share purchase and development services agreement (the "Share Purchase and Development Services Agreement") with Redwood Solar Development LLC ("Redwood"). Under the Share Purchase and Development Services Agreement, we have agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus, for $8,775,000 (the "Contract Price"). Redwood shall pay the Contract Price by issuing to us, a non-interest bearing, secured debenture (the “Redwood Debenture”). Our obligation to complete the sale is subject, in part, to 1) us receiving a release from Clean Focus in respect of any further obligations under or in connection with the Loan; and 2) the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than two-thirds of our shares. Redwood's obligation to complete the purchase is subject, in part, to 1) Redwood receiving lock-up agreements and proxies from our shareholders holding not less than 80% of our shares; and 2) the approval of the Share Purchase and Development Services Agreement by our shareholders holding not less than 80% of our shares.

Prior to executing the Share Purchase and Development Services Agreement, Redwood received lock-up agreements and proxies from eleven of our shareholders, who, in aggregate, hold 79.9% of our shares.

We are scheduled to hold an annual and special meeting of our shareholders (the "Meeting") on September 16, 2013, at which time, our shareholders will vote, by proxy or in person, on whether to approve the Share Purchase and Development Services Agreement. The closing date (the "Closing Date") means the date on which the closing will occur, which will be not more than three business days following the date of the Meeting.

In the event the required percentages of our shareholder votes are not met under the Share Purchase and Development Services Agreement, we shall owe Redwood a break-up fee of $5,000,000, which will be immediately due and payable. In addition, the Loan will be in immediate default, and will become due and payable, with us confessing judgment to the immediate exercise of remedies allowed with respect to the default of the Loan, including, without limitation, a declaration of foreclosure on the Coronus land parcels and the seizure of all assets of Coronus.

The Contract Price is the agreed upon price of $0.39/Wp, which is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and is based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by us. The payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to us on the execution of the Share Purchase and Development Services Agreement; 2) $9,000 shall be paid to us on the Closing Date; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to us, estimated to be $36,563 per system; and 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each pro-rata portion paid to us on permanent financial close in connection with the construction of each system.

Under the Share Purchase and Development Services Agreement, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the following parameters: installed capacity; development expense budget true-up; interconnection refund true-up; and Coronus financial statements true-up. Under the Share Purchase and Development Services Agreement, forward looking, Redwood agrees to fund, and the Contract Price reflects Redwood funding, certain development expenses that are separate and aside from the Contract Price. We understand and agree that the Redwood Debenture security interests received by us will be subordinate and junior to the interests securing the Loan, as well as subordinate and junior to all future draws under the Loan where the proceeds are used to fund those certain development expenses.

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In addition to the above, we are presently evaluating further vacant lands, ranging in size between 20 and 50 acres, for purchase. Over the course of the next twelve months, our intention is to acquire further lands, and to submit generating facility interconnection applications to SCE in respect of utility-scale, solar PV power systems to be sited on these lands.

Results of Operations

Three Months Ended June 30, 2013 compared to June 30, 2012

Amortization, tangible and intangible assets, expense decreased by $1,795 or 100% from $1,803 for the three months ended June 30, 2012 to $8 for the three months ended June 30, 2013. The reason for the decrease was that the Business Plan was fully amortized as of October 31, 2012.

We incurred $100,003 in amortization, financing costs on promissory note, expense for the three months ended June 30, 2013, as compared to no amortization, financing costs on promissory note, expense ($nil) for the three months ended June 30, 2012. The $100,003was the amortized portion of the deferred financing fees for the current period incurred on the issuance of the senior secured promissory note over the life of the note.

We incurred $148,147 in consulting fees expense for the three months ended June 30, 2013, as compared to no consulting fees expense ($nil) for the three months ended June 30, 2012. This expense relates to 1) the focused biological surveys we undertook for several properties during the current period, and 2) the Earthlight consultancy.

We incurred no interest on shareholder loan expense ($nil) for the three months ended June 30, 2013, as compared to $430 in interest on shareholder loan expense for the three months ended June 30, 2012. The reason for the decrease was that on April 18, 2012, we repaid, in full, the shareholder loan, and thus ended the accumulation of further interest.

Interest and bank charges expense increased by $44,425 or 616% from $7,207 for the three months ended June 30, 2012 to $51,632 for the three months ended June 30, 2013. The principal reason for the increase is the accrual of the interest owing on the senior secured promissory note in the amount of $88,222.

We incurred $6,692 in travel expense for the three months ended June 30, 2013, as compared to no travel expense ($nil) for the three months ended June 30, 2012. The increase was due to visits to our portfolio of sites in California.

Feasibility study expense decreased by $19,267 or 45% from $43,300 for the three months ended June 30, 2012 to $24,033 for the three months ended June 30, 2013. The decrease was due to the expensed portion of the numerous deposits Coronus paid over the past year to SCE for interconnection studies completed, in part, in the past year.

Foreign exchange loss expense decreased by $9,962 or 133% from an exchange loss of $7,513 for the three months ended June 30, 2012 to an exchange gain of $2,449 for the three months ended June 30, 2013. The decrease was attributable to the fluctuation of the USD/CAD exchange rate.

We incurred no write-off on discount of convertible notes expense ($nil) for the three months ended June 30, 2013, as compared to $80,237 in write-off on discount of convertible notes expense for the three months ended June 30, 2012. On April 20, 2012, we repaid, in full, the principal and interest owning on two convertible promissory notes. An amount of $5,302 was amortized for the period from April 1 to April 19, 2012, and the balance of the discount on issuance of the convertible promissory notes, $80,237, was written off.

We achieved no gain on sale of assets ($nil) for the three months ended June 30, 2013, as compared to $808,994 in gain on sale of assets for the three months ended June 30, 2012. Pursuant to the Solar PV Asset Sale Agreement, we recorded a gain of $808,994 in respect of the sale of Coronus Hesperia West 1 LLC in the three month period ended June 30, 2012.

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Assets and Liabilities at June 30, 2013 compared to March 31, 2013

Cash and cash equivalents decreased by $189,677 or 67% from $284,989 at March 31, 2013 to $95,312 at June 30, 2013. The reason for the decrease is that we used more cash in the current period to pay liabilities, than we achieved in gains in cash in the same period.

Other receivables decreased by $30,409 or 88% from $34,529 at March 31, 2013 to $4,120 at June 30, 2013. The principal reason for the decrease was the receipt of $25,081 in SCE utility study deposit refunds in the current period.

Current, prepaid expenses and deposit decreased by $25,828 or 93% from $27,666 at March 31, 2013 to $1,838 at June 30, 2013. The decrease is due to a comparative decrease in current, prepaid expenses in relation to utility interconnection studies.

We had $4,314,917 in assets held for sale at June 30, 2013, as compared to no assets held for sale ($nil) at March 31, 2013. The assets held for sale relate to the cash, other receivables, prepaid expenses and deposits, land, and project assets of Coronus. On August 9, 2013, we entered into the Share Purchase and Development Services Agreement with Redwood. Under the Share Purchase and Development Services Agreement, we have agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus.

We had no long-term prepaid expenses and deposit ($nil) at June 30, 2013, as compared to $564,150 in long-term prepaid expenses and deposit at March 31, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, long-term prepaid expenses and deposit were reclassified as assets held for sale.

Property, plant and equipment decreased by $93,672 or 74% from $127,002 at March 31, 2013 to $33,330 at June 30, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, property, plant and equipment, but for the 29-Palms East parcel, were reclassified as assets held for sale.

We had no project assets ($nil) at June 30, 2013, as compared to $3,477,920 in project assets at March 31, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, project assets were reclassified as assets held for sale.

We had no senior secured promissory note ($nil) at June 30, 2013, as compared to $2,902,100 in senior secured promissory note at March 31, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, senior secured promissory note was reclassified as liabilities held for sale.

We had no current notes payable ($nil) at June 30, 2013, as compared to $232,084 in current notes payable at March 31, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, current notes payable were reclassified as liabilities held for sale.

We had $4,085,420 in liabilities held for sale at June 30, 2013, as compared to no liabilities held for sale ($nil) at March 31, 2013. The liabilities held for sale relate to the accounts payable and accrued liabilities, senior secured promissory note, and current and long-term notes payable of Coronus. On August 9, 2013, we entered into the Share Purchase and Development Services Agreement with Redwood. Under the Share Purchase and Development Services Agreement, we have agreed to sell 100% of the issued and outstanding shares of Coronus to Redwood, in addition to performing certain development services in respect of the twelve anticipated, utility-scale, solar PV projects of Coronus.

We had no long-term notes payable ($nil) at June 30, 2013, as compared to $579,014 in long-term notes payable at March 31, 2013. As a result of entering into the Share Purchase and Development Services Agreement with Redwood, long-term notes payable were reclassified as liabilities held for sale.

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Limited Operating History; Need for Additional Capital

There is limited historical financial information about us upon which to base an evaluation of our performance. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources.

To become profitable and competitive, we need to obtain power purchase agreements from SCE, under the CPUC’s feed-in tariff program for small generators, obtain land use permits, and secure financing, on a per project basis, to pay solar PV system integrators to construct the utility-scale, solar PV systems. There is no assurance that we will be able to obtain power purchase agreements or land use permits. Further, there is no assurance that we will be able to secure financing, or secure financing on acceptable terms. If financing is not available on acceptable terms, we may be unable to develop our operations.

We expect to raise additional capital through the sale of common stock in private placements, or through the sale of Coronus to Redwood. There is no assurance, however, that we will be able to raise any capital through the sale of common stock, or that the sale of Coronus to Redwood will close. Further, equity financing could result in additional dilution to existing shareholders.

We do not believe that possible inflation and price changes will affect our revenues.

Our auditors have issued a going concern opinion in our consolidated financial statements for the year ended March 31, 2013. This means that there is substantial uncertainty that we will continue operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Liquidity and Capital Resources

Since inception, we have issued 17,219,486 shares of our common stock and received cash of $591,861.

On March 19, 2012, Coronus, through its wholly-owned subsidiary, Coronus Hesperia West 1 LLC, entered into a Power Purchase Agreement (“PPA”) with SCE. The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system on a 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to a vacant land purchase agreement (the “Hesperia West Agreement”). On April 5, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to 1) sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC, 2) assign to Sycamore, the Hesperia West Agreement, and 3) use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West land parcel, and to sell this PPA, relating to a 1.5 MW solar PV system, to Sycamore if obtained.

Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $1,726,219 (the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019, to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole membership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Agreement to Sycamore.

On August 30, 2012, Coronus, through its wholly-owned subsidiary, Coronus Hesperia West 2 LLC, entered into the second PPA with SCE. Having obtained the second PPA on the Hesperia West land parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, or $909,019, to Coronus, and Coronus transferred the sole membership in Coronus Hesperia West 2 LLC to Sycamore, thus concluding the Solar PV Asset Sale Agreement.

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On August 30, 2012 (the “Yucca Valley East PPAs Effective Date”), our wholly-owned subsidiaries, Coronus Yucca Valley East 1 LLC and Coronus Yucca Valley East 2 LLC, entered into two PPAs (the “Yucca Valley East PPAs”) with SCE. The Yucca Valley East PPAs relate to our applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Yucca Valley East 1 and Yucca Valley East 2 Projects”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California (the “Yucca Valley East Property”), Coronus acquired on August 17, 2012.

The Yucca Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Yucca Valley East 1 and Yucca Valley East 2 Projects’ generation, net of station use. The term of the Yucca Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Yucca Valley East PPAs. Initial operation of the Yucca Valley East 1 and Yucca Valley East 2 Projects must be no later than eighteen months from the Yucca Valley East PPAs Effective Date. The Yucca Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East PPAs Effective Date, we were required to post and maintain development fees (the “Yucca Valley East Development Securities”) equal to $37,604 per Yucca Valley East PPA. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the Yucca Valley East Development Securities to us within thirty days of each facility’s initial operation. On September 27, 2012, we paid the Yucca Valley East Development Securities.

On August 30, 2012 (the “29-Palms North PPAs Effective Date”), our wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, and Coronus 29-Palms North 3 LLC, entered into three PPAs (the “29-Palms North PPAs”) with SCE. The 29-Palms North PPAs relate to our applications for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems (the “29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects”) on the 160 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms North Re-Site Property”), Coronus acquired on December 28, 2012.

The 29-Palms North PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects’ generation, net of station use. The term of the 29-Palms North PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the 29-Palms North PPAs. Initial operation of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects must be no later than eighteen months from the 29-Palms North PPAs Effective Date. The 29-Palms North PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the 29-Palms North PPAs Effective Date, we were required to post and maintain development fees (the “29-Palms North Development Securities”) equal to $38,250 per 29-Palms North PPA. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the 29-Palms North Development Securities to us within thirty days of each facility’s initial operation. On September 27, 2012, we paid the 29-Palms North Development Securities. As a consequence of the San Bernardino moratorium on approval of commercial solar energy generation projects, Coronus put a formal request to SCE to terminate the 29-Palms North PPAs in respect of the 29-Palms North 2 and 29-Palms North 3 Projects, and asked SCE to return to Coronus the 29-Palms North Development Securities Coronus posted with SCE, in the amounts of $38,250 and $38,250, respectively.

On December 7, 2012 (the “Joshua Tree East PPAs Effective Date”), our wholly-owned subsidiaries, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, and Coronus Joshua Tree East 5 LLC, entered into five identical Power Purchase Agreements (the “Joshua Tree East PPAs”) with SCE. The Joshua Tree East PPAs relate to our applications for

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interconnection service and the CREST tariff for five 1.5 MW solar PV power systems (the “Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects”) on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California (the “Joshua Tree East Property”), Coronus acquired on June 30, 2011.

The Joshua Tree East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects’ generation, net of station use. The term of the Joshua Tree East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Joshua Tree East PPAs. Initial operation of the Joshua Tree East 1, Joshua Tree East 2, Joshua Tree East 3, Joshua Tree East 4, and Joshua Tree East 5 Projects must be no later than eighteen months from the Joshua Tree East PPAs Effective Date. The Joshua Tree East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Joshua Tree East PPAs Effective Date, we were required to post and maintain development fees (the “Joshua Tree East PPAs Development Securities”) equal to $36,736 per Joshua Tree East PPA. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the Joshua Tree East PPAs Development Securities to us within thirty days of each facility’s initial operation. On January 4, 2013, we paid the Joshua Tree East PPAs Development Securities.

On December 7, 2012 (the “Apple Valley East PPAs Effective Date”), our wholly-owned subsidiaries, Coronus Apple Valley East 1 LLC and Coronus Apple Valley East 2 LLC, entered into two identical Power Purchase Agreements (the “Apple Valley East PPAs”) with SCE. The Apple Valley East PPAs relate to our applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Apple Valley East 1 and Apple Valley East 2 Projects”) on the 14.78 and 8.91 acre parcels of vacant land, adjacent to one another, situated east of Apple Valley, in the County of San Bernardino, California [the “Apple Valley East Re-Site (Nguyen) Property” and the “Apple Valley East Re-Site (McGee) Property”, respectively], Coronus acquired on January 7 and March 5, 2013, respectively.

The Apple Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Apple Valley East 1 and Apple Valley East 2 Projects’ generation, net of station use. The term of the Apple Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Apple Valley East PPAs. Initial operation of the Apple Valley East 1 and Apple Valley East 2 Projects must be no later than eighteen months from the Apple Valley East PPAs Effective Date. The Apple Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Apple Valley East PPAs Effective Date, we were required to post and maintain development fees (the “Apple Valley East PPAs Development Securities”) equal to $38,850 per Apple Valley East PPA. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the Apple Valley East PPAs Development Securities to us within thirty days of each facility’s initial operation. On January 4, 2013, Coronus paid the Apple Valley East PPAs Development Securities.

On January 15, 2013 (the “Adelanto West PPAs Effective Date”), our wholly-owned subsidiaries, Coronus Adelanto West 1 LLC and Coronus Adelanto West 2 LLC, entered into two identical Power Purchase Agreements (the “Adelanto West PPAs”) with SCE. The Adelanto West PPAs relate to our applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Adelanto West 1 and Adelanto West 2 Projects”) on the 40 acre parcel of vacant land, situated in the City of Adelanto, California, Coronus acquired on April 19, 2012.

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The Adelanto West PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Adelanto West 1 and Adelanto West 2 Projects’ generation, net of station use. The term of the Adelanto West PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Adelanto West PPAs. Initial operation of the Adelanto West 1 and Adelanto West 2 Projects must be no later than eighteen months from the Adelanto West PPAs Effective Date. The Adelanto West PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Adelanto West PPAs Effective Date, we are required to post and maintain development fees (the “Adelanto West PPAs Development Securities”) equal to $37,604 per Adelanto West PPA. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the Adelanto West PPAs Development Securities to us within thirty days of each facility’s initial operation.

On January 15, 2013 (the “Yucca Valley East 3 PPA Effective Date”), our wholly-owned subsidiary, Coronus Yucca Valley East 3 LLC entered into a Power Purchase Agreement (the “Yucca Valley East 3 PPA”) with SCE. The Yucca Valley East 3 PPA relates to our application for interconnection service and the CREST tariff for a third 1.5 MW solar PV power system (the “Yucca Valley East 3 Project”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California, Coronus acquired on August 17, 2012.

The Yucca Valley East 3 PPA is a standardized, must-take, full buy/ sell, power purchase agreement, where SCE purchases all of the Yucca Valley East 3 Project’s generation, net of station use. The term of the Yucca Valley East 3 PPA is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Yucca Valley East 3 PPA. Initial operation of the Yucca Valley East 3 Project must be no later than eighteen months from the Yucca Valley East 3 PPA Effective Date. The Yucca Valley East 3 PPA includes, but is not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East 3 PPA Effective Date, we are required to post and maintain a development fee (the “Yucca Valley East 3 PPA Development Security”) equal to $37,604. If, on or before initial operation, we demonstrate to SCE’s satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facility, SCE shall return the Yucca Valley East 3 PPA Development Security to us within thirty days of the facility’s initial operation.

We expect to obtain capital through the sale of our common stock, or through the sale of Coronus to Redwood. There is no assurance we will obtain further PPAs, obtain land use permits, or secure financing, on a per project basis, to pay a solar PV system integrator, in installments, to construct the utility-scale, solar PV systems. Further, there is no assurance we will sell any shares of common stock, or that the sale of Coronus to Redwood will close. We believe that capital generated from the sale of our common stock, or through the sale of Coronus to Redwood, will allow us to operate for the next twelve months. Capital raised from the sale of common stock and capital raised from the sale of Coronus to Redwood are our only anticipated sources of additional capital.

To develop a 1.5 MW ground-mount, fixed-tilt, solar PV power plant, we forecast the total project cost to be $4.6 million, inclusive of the costs of the power plant, interconnection, land, and project entitlement, but exclusive of a developer fee or profit. We base our cost forecast on 1) the costs we’ve incurred to date, 2) the costs we anticipate we will incur to complete development of the portfolio of solar PV projects we are developing, and 3) the pricing estimates we obtained from solar PV system integrators to build turn-key solar PV systems.

On March 31, 2011, the Company and Coronus entered into a purchase agreement for ground-mount, solar PV power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, we paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of our common stock to Belectric, at a deemed price of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress when the agreement was first entered into.

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On August 15, 2012, we amended the Solar Power Systems Agreement (the “Amended Solar Power Systems Agreement”). Under the Amended Solar Power Systems Agreement, the provision of Coronus to purchase a total of 21 MW of utility-scale, ground-mount, solar PV power systems from Belectric, for consideration of $76,818,000, exclusive of taxes (the “Original Basic Price”), was modified. Under the Amended Solar Power Systems Agreement, Coronus and Belectric agreed to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis (the “Purchase and Sale Agreements”). The Amended Solar Power Systems Agreement was effective as of August 15, 2012, and was to remain in full force and effect for three years. Throughout the term of the Amended Solar Power Systems Agreement, Belectric was to retain the exclusive right to negotiate Purchase and Sale Agreements with Coronus for solar power systems.

On entering into the original Solar Power Systems Agreement, we paid 15% of the Original Basic Price, or $11,522,700, by way of issuing 10,974,000 shares (the “Original Payment Shares”) of our common stock to Belectric, at a deemed price of $1.05 per share. Under the Amended Solar Power Systems Agreement, as additional purchase and sale consideration, Belectric kept 1,097,400 of the Original Payment Shares. Accordingly, 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, resulting to a reduction of construction in progress of $5,925,960.

On March 27, 2013, pursuant to a Mutual Release and Termination Agreement, the Company, Coronus and Belectric terminated and released each other from any and all claims that may have arisen under, or in connection with, the Amended Solar Power Systems Agreement. But for Section 2.3 of the Amended Solar Power Systems Agreement, Non-Refundability of Payment Shares, the Amended Solar Power Systems Agreement, together with any and all addenda thereto or amendments thereof, was thereby terminated, and of no further force or effect. Pursuant to Section 2.3 of the Amended Solar Power Systems Agreement, Non-Refundability of Payment Shares, ownership of the 1,097,400 of the Original Payment Shares currently owned and held by Belectric survived the Mutual Release and Termination Agreement, and are continued to be owned and held by Belectric. As a consequence of the termination, on March 27, 2013, Coronus wrote off the balance of its construction in progress of $658,440, as the asset is no longer available to Coronus.

On August 28, 2010, Coronus entered into a Vacant Land Purchase Agreement (“the “Twentynine Palms East Agreement”) to acquire a 30 acre parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California. The purchase price of $32,000, all cash, was paid on January 24, 2011. On March 29, 2013, Coronus transferred 100% ownership of the parcel to us, in return for us reducing the debt Coronus owed us by $33,161. At this point in time, we have opted not to pursue interconnection agreements for solar power systems sited on this parcel. Based on the feedback we received from SCE’s engineers, the anticipated network upgrade costs to accommodate the systems are currently prohibitive. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

On January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Twentynine Palms North Agreement”) to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $40,000. Coronus agreed to pay $8,000, with the seller agreeing to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On May 16, 2011, the transaction closed. Accordingly, Coronus owns this parcel. On May 17, 2013, Coronus paid the balance amount owing of $32,000, retiring the seller’s note. Accordingly, Coronus now owns this parcel unencumbered. At this point in time, we have opted not to pursue interconnection agreements for solar power systems sited on this parcel. Based on the feedback we received from SCE’s engineers, the anticipated network upgrade costs to accommodate the systems are currently prohibitive. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

On January 24, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Newberry Springs Agreement”) to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. Coronus agreed to pay $8,000, with the seller agreeing to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On March 17, 2011, the transaction closed. On May 9, 2013, the parties agreed on a one-year extension to the balance amount note. All other terms remain the same, and monthly interest will continue to be

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paid throughout the extension. At this point in time, we are precluded from pursuing interconnection agreements for solar power systems sited on this parcel. Based on the feedback we received from SCE’s engineers, the existing, regional specific, transmission infrastructure lacks the transmission capacity we would require to deploy solar power systems on this parcel. Although SCE plans to upgrade this transmission infrastructure, these upgrades are not slated for completion till 2018 – 2019. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

On May 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”) to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The purchase price was $200,000. Coronus agreed to pay $30,000, with the seller agreeing to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only. On June 30, 2011, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing five interconnection agreements for five 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for the five systems, and have entered into five separate PPAs with SCE, under the CREST tariff, in respect of these systems (see the Joshua Tree East PPAs above). We are now also underway with the permitting/ entitlement process.

On September 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Adelanto West Agreement”) to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. The purchase price was $400,000. Coronus agreed to pay $165,000, with the seller agreeing to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. On April 19, 2012, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing two interconnection agreements for two 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for the two systems, and have entered into two separate PPAs with SCE, under the CREST tariff, in respect of these systems (see the Adelanto West PPAs above). We are now also underway with the permitting/ entitlement process.

On October 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement”) to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The purchase price was $170,000. Coronus agreed to pay $34,000, with the seller agreeing to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On August 17, 2012, the transaction closed. Accordingly, Coronus owns this parcel. Additionally, on March 28, 2013, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement #2”) to acquire a 20 acre parcel of vacant land, immediately adjacent to the “Yucca valley East” 34.07 acre parcel. The purchase price is $100,000. Close of escrow is October 31, 2013. Coronus deposited $10,000 into escrow and agrees to deposit an additional $90,000 within sufficient time to close escrow. The Yucca Valley East Agreement #2 is subject to Coronus receiving permit approval for its solar PV projects Coronus Yucca Valley East 1, 2 and 3. At this point in time, we are pursuing three interconnection agreements for the three 1.5 MW solar PV power systems sited on these two parcels. To date, we have obtained interconnection study results for the three systems, and have entered into three separate PPAs with SCE, under the CREST tariff, in respect of these systems (see the Yucca Valley East PPAs above). We are now also underway with the permitting/ entitlement process.

On April 25, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “Phelan South Agreement”) to acquire a 40 acre parcel of vacant land, situated in Phelan, an unincorporated community in the County of San Bernardino, California. The purchase price was $350,000, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $349,000 within sufficient time to close escrow. Close of escrow was March 15, 2013, and the Phelan South Agreement was subject to Coronus’ board of director approval on or before February 28, 2013. Between September 30, 2012, and March 15, 2013, Coronus made $11,278 in non-refundable payments to the seller, separate and distinct from the purchase. Coronus’ board of directors did not approve the purchase. Effective April 22, 2013, the parties mutually terminated the Phelan South Agreement.

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On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. On January 31, 2013, the parties to the 29-Palms Morongo Agreement replaced Coronus as purchaser with our wholly-owned subsidiary Coronus 29-Palms Morongo LLC. The purchase price for the land is $86,683, all cash. Coronus deposited $1,000 into escrow and agreed to deposit an additional $85,683 within sufficient time to close escrow. Effective May 3, 2013, the parties amended the 29-Palms Morongo Agreement, wherein the parties agreed to an option arrangement where an option (the “Option”) to purchase the 24.23 acre parcel of vacant land was adopted, with the following terms: 1) Coronus 29-Palms Morongo LLC pays monthly payments equal to 6% per annum of the purchase price, or $433.42 per month, 2) the monthly payments are applied to the purchase price, provided Coronus 29-Palms Morongo LLC exercises the Option, otherwise the payments are forfeited to the seller, 3) the term of the Option is 24 months, 4) failure to make the monthly payment terminates the Option, and 5) during the term of the Option, the seller provides the necessary consent for Coronus 29-Palms Morongo LLC to apply for a conditional use permit from the County of San Bernardino. In respect of the parties replacing Coronus as purchaser with Coronus 29-Palms Morongo LLC, we reduced the debt Coronus owed us by $1,000, which equaled the deposit Coronus paid on entering into the 29-Palms Morongo Agreement. Additionally, on March 31, 2013, Coronus assigned the interconnection request for project Coronus 29-Palms Morongo to Coronus 29-Palms Morongo LLC. In return, the Company reduced the debt Coronus owed the Company by $10,000, which equaled the original deposit of $10,000 Coronus paid to SCE on entering into the system impact study agreement. To date, we have obtained the interconnection study results for the one 1.5 MW solar PV power system sited on this parcel.

On December 8, 2012, Coronus entered into a Vacant Land Purchase Agreement [the “Apple Valley East Re-Site Agreement (Nguyen)”] to acquire a 14.78 acre parcel of vacant land, situated east of Apple Valley, in the County of San Bernardino, California. The purchase price was $300,000. Coronus paid $100,000 and the seller agreed to carry back the balance amount of $200,000 for three months at 0% ($nil) interest. The transaction closed on January 7, 2013, and on April 3, 2013, Coronus paid out the balance amount of $200,000, retiring the note. Accordingly, Coronus owns this parcel. Additionally, on February 8, 2013, Coronus entered into a Vacant Land Purchase Agreement [the “Apple Valley East Re-Site Agreement (McGee)”] to acquire the 8.91 acre parcel of vacant land, situated adjacent to the 14.78 acre parcel. The purchase price was $100,000. The transaction closed on March 5, 2013. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing two interconnection agreements for two 1.5 MW solar PV power systems sited on these two adjacent parcels. To date, we have obtained interconnection study results for the two systems, and have entered into two separate PPAs with SCE, under the CREST tariff, in respect of these systems (see the Apple Valley East PPAs above). We are now also underway with the permitting/ entitlement process.

On December 6, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms North Re-Site Agreement”) to acquire a 160 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $400,000, all cash. On December 28, 2012, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing one interconnection agreement for one 1.5 MW solar PV power system sited on this parcel. To date, we have obtained interconnection study results for the system, and have entered into a PPA with SCE, under the CREST tariff, in respect of this system (see the 29-Palms North PPAs above).

On February 2, 2012, we conducted a non-brokered private placement, issuing a senior secured, convertible promissory note (the “Adair Note”) and transferrable warrant (the “Adair Warrant”) to Russell Adair, for proceeds of CAD$50,000. The Adair Note matured on February 2, 2013 and bore interest at an annual rate of 12%, payable in cash at maturity, prepayment or conversion. At or before maturity, the Adair Note and any accrued interest were convertible at the holder’s option into shares of our common stock, at a price of CAD$0.60 per share. On April 20, 2012, we repaid Mr. Adair, in full, the CAD$50,000 in principal and CAD$1,282.20 in interest owning against the Adair Note. The Adair Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Adair continues to hold the Adair Warrant.

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On February 23, 2012, we conducted a non-brokered private placement, issuing a senior secured, convertible promissory note (the “Zakaib Note”) and transferrable warrant (the “Zakaib Warrant”) to Frank Zakaib, for proceeds of CAD$50,000. The Zakaib Note matured on February 2, 2013 and bore interest at an annual rate of 12%, payable in cash at maturity, prepayment or conversion. At or before maturity, the Zakaib Note and any accrued interest were convertible at the holder’s option into shares of our common stock, at a price of CAD$0.60 per share. On April 20, 2012, we repaid Mr. Zakaib, in full, the CAD$50,000 in principal and CAD$936.99 in interest owning against the Zakaib Note. The Zakaib Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Zakaib continues to hold the Zakaib Warrant.

On December 20, 2012, Coronus and Coronus’ wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, Coronus 29-Palms North 3 LLC, Coronus Yucca Valley East 1 LLC, Coronus Yucca Valley East 2 LLC, Coronus Yucca Valley East 3 LLC, Coronus Joshua Tree East 1 LLC, Coronus Joshua Tree East 2 LLC, Coronus Joshua Tree East 3 LLC, Coronus Joshua Tree East 4 LLC, Coronus Joshua Tree East 5 LLC, Coronus Apple Valley East 1 LLC, Coronus Apple Valley East 2 LLC, Coronus Adelanto West 1 LLC, and Coronus Adelanto West 2 LLC (collectively the “Project Companies”), conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Note”) to one investor, Clean Focus Financing Company, LP (“Clean Focus”), for proceeds of up to $4,000,000 (the “Loan”). Pursuant to collateral assignment and pledge agreements, and a security agreement, the Note is secured by a first and superior security interest in Coronus’ assets, inclusive of all of Coronus’ right, title and interest in, to and under the sole member of the Project Companies, and all of Coronus’ right, title and interest in, to, and under, if any, any contracts, permits, applications or other documents or agreements entered into or submitted by the Project Companies.

Pursuant to a schedule of draw dates and amounts, Coronus was to request advances, in whole or in part, of up to the maximum amount of the Loan (each an “Advance”). The schedule of draw dates and amounts was as follows: $1,500,000 within two business days of signing of the Note and related loan documents; $500,000 on January 6, 2013; $1,000,000 on January 31, 2013; and $1,000,000 on February 28, 2013. On December 26, 2012, Coronus received the first Advance of $1,500,000, and on January 4, 2013, Coronus received the second Advance of $500,000. Pursuant to a guaranty of payment and completion (the “Guaranty”), we guarantee the punctual payment and performance when due, whether at stated maturity or by acceleration or otherwise, of the indebtedness and other obligations of Coronus and the Project Companies. Additionally, pursuant to the Guaranty, the Company guarantees that all obligations of Coronus and the Project Companies to continue development of the Project Companies’ projects shall be completed promptly when required, and that the proceeds of each Advance shall be used to pay certain obligations in furtherance of the Project Companies’ projects.

The Note bears interest at an annual rate of 6%, and such interest shall accrue until the Maturity Date.

In connection with the Loan, Coronus and the Project Companies shall pay up to $20,000 in costs and expenses incurred by Clean Focus in the preparation of the Note and the related loan documents. Additionally, with each Advance, and from the proceeds of each Advance, Coronus was to pay Clean Focus a fee equal to 2% of the principal amount of the Advance. In connection with the first Advance of $1,500,000 on December 26, 2012, Coronus paid Clean Focus the 2% fee, or $30,000, and in connection with the second Advance of $500,000 on January 4, 2013, Coronus paid Clean Focus the 2% fee, or $10,000. Further, in connection with the Loan, with each Advance, but not from the proceeds of each Advance, but from Coronus’ unallocated working capital, Coronus was to pay Earthlight Solar Inc. (“Earthlight”) a fee equal to 3% of the principal amount of the Advance. Mark Burgert, a control person of the Company, is the president and a control person of Earthlight. In connection with the Loan, on behalf of Coronus, Earthlight acted as agent. In connection with the first Advance of $1,500,000 on December 26, 2012, Coronus paid Earthlight the 3% fee, or $45,000, and in connection with the second Advance of $500,000 on January 4, 2013, Coronus paid Earthlight the 3% fee, or $15,000.

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On January 31, 2013, the parties amended the mechanics of the draw dates and amounts under the Loan. Under the amended mechanics, Coronus was to provide Clean Focus with invoices, supportive of the schedule, and Clean Focus was to make the required payments direct to the payee, when due. With each direct payment, Coronus was to credit Clean Focus its fee equal to 2% of the principal amount of the payment. The parties amended the mechanics of the draw dates and amounts to facilitate Clean Focus’ reporting with the U.S. Citizenship and Immigration Services, as the source of the Loan is EB-5 immigrant investor funds. All other aspects of the Loan mechanics remained unchanged. Accordingly, consistent with the original agreement with Earthlight, on February 6, 2013, Coronus paid Earthlight its fee equal to 3%, or $30,000, of the originally scheduled principal amount of the third Advance, and on March 11, 2013, Coronus paid Earthlight its fee equal to 3%, or $30,000, of the originally scheduled principal amount of the fourth and final Advance.

The unpaid principal balance of the Note as at June 30, 2013 was $3,334,032.

Prior to executing the Share Purchase and Development Services Agreement, Redwood received lock-up agreements and proxies from eleven of our shareholders, who, in aggregate, hold 79.9% of our shares.

The Contract Price is the agreed upon price of $0.39/Wp, which is the estimated final output capacity of the twelve anticipated, utility-scale, solar PV projects of Coronus, and is based on the aggregate of the value of the installed solar PV systems and the value of the development services to be performed by us. The payment of the Contract Price, and the corresponding retirement of the Redwood Debenture, is as follows: 1) $1,000 was paid to us on the execution of the Share Purchase and Development Services Agreement; 2) $9,000 shall be paid to us on the Closing Date; 3) after four solar PV systems have met certain conditions, inclusive of the receipt of conditional use permits, a payment of 5% of the Contract Price, per solar PV system, shall be paid to us, estimated to be $36,563 per system; and 4) the balance of the Contract Price shall be pro-rated among the twelve solar PV systems with each pro-rata portion paid to us on permanent financial close in connection with the construction of each system.

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Under the Share Purchase and Development Services Agreement, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based, in part, on the following parameters: installed capacity; development expense budget true-up; interconnection refund true-up; and Coronus financial statements true-up. Under the Share Purchase and Development Services Agreement, forward looking, Redwood agrees to fund, and the Contract Price reflects Redwood funding, certain development expenses that are separate and aside from the Contract Price. We understand and agree that the Redwood Debenture security interests received by us will be subordinate and junior to the interests securing the Loan, as well as subordinate and junior to all future draws under the Loan where the proceeds are used to fund those certain development expenses.

On December 3, 2012, pursuant to the SCE interconnection request for solar PV project Coronus 29-Palms North 1, we posted with SCE the initial interconnection financial security, in the amount of $29,500. This amount was determined by the results of the Combined System Impact and Facility Study Agreement Coronus entered into with SCE on June 16, 2011.

On December 26, 2012, pursuant to the SCE interconnection requests for solar PV projects Coronus 29-Palms North 2 and 3, we posted with SCE the initial interconnection financial securities, in the amounts of $373,300 and $208,900, respectively. The posting amount for the Coronus 29-Palms North 2 project was determined by the results of the Combined System Impact and Facility Study Coronus entered into with SCE on June 16, 2011. The posting amount for the Coronus 29-Palms North 3 project was determined by the results of the System Impact Study Coronus entered into with SCE on February 29, 2012. As a consequence of the San Bernardino moratorium on approval of commercial solar energy generation projects, on July 23, 2013, Coronus formally withdrew its interconnection requests for Coronus solar PV systems 29-Palms North 2 and 3. As a consequence of the interconnection request withdrawals, Coronus is entitled to a release of the interconnection financial security postings Coronus deposited with SCE in respect of these two projects, in the cumulative amount of $864,600, less the costs, if any, SCE charged to these two projects.

On December 27, 2012, pursuant to the SCE interconnection requests for solar PV projects Apple Valley East 1 and 2, was posted with SCE the initial interconnection financial securities, in the amounts of $270,900 and $32,900, respectively. The posting amounts for the Apple Valley East 1 and 2 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on May 3, 2012.

On January 9, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Joshua Tree East 1, 2, 3, 4 and 5, we posted with SCE the initial interconnection financial securities, in the amounts of $41,200, $82,400, $41,200, $58,800 and $141,200, respectively. The posting amounts for the Joshua Tree East 1, 2 and 3 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on February 23, 2012. The posting amounts for the Joshua Tree East 4 and 5 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on June 25, 2012.

On February 1, 2013, pursuant to the SCE interconnection request for solar PV project Coronus 29-Palms North 1, we posted with SCE the second interconnection financial security, in the amount of $14,750. This amount was determined by the results of the Combined System Impact and Facility Study Agreement Coronus entered into with SCE on June 16, 2011.

On February 14, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Adelanto West 1 and 2, we posted with SCE the initial interconnection financial securities, in the amounts of $36,660 and $38,260, respectively. The posting amounts for the Coronus Adelanto West 1 and 2 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on April 13, 2012.

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On February 14, 2013, pursuant to the SCE interconnection request for solar PV project Coronus Yucca Valley East 3, Coronus posted with SCE the initial interconnection financial security, in the amount of $84,500. This amount was determined by the results of the System Impact Study Coronus entered into with SCE on June 25, 2012.

On February 20, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus 29-Palms North 2 and 3, Coronus posted with SCE the second interconnection financial securities, in the amounts of $156,350 and $126,050, respectively. The posting amount for the Coronus 29-Palms North 2 project was determined by the results of the Combined System Impact and Facility Study Coronus entered into with SCE on June 16, 2011. The posting amount for the Coronus 29-Palms North 3 project was determined by the results of the System Impact Study Coronus entered into with SCE on February 29, 2012. As a consequence of the San Bernardino moratorium on approval of commercial solar energy generation projects, on July 23, 2013, Coronus formally withdrew its interconnection requests for Coronus solar PV systems 29-Palms North 2 and 3. As a consequence of the interconnection request withdrawals, Coronus is entitled to a release of the interconnection financial security postings Coronus deposited with SCE in respect of these two projects, in the cumulative amount of $864,600, less the costs, if any, SCE charged to these two projects.

On February 25, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Yucca Valley East 1 and 2, Coronus posted with SCE the initial interconnection financial securities, in the amounts of $25,300 and $69,980, respectively. The posting amounts for the Coronus Yucca Valley East 1 and 2 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on February 2, 2012.

On April 15, 2013, pursuant to the SCE interconnection request for solar PV project Coronus Yucca Valley East 3, Coronus posted with SCE the second interconnection financial security, in the amount of $42,250. This amount was determined by the results of the System Impact Study Coronus entered into with SCE on June 25, 2012.

On April 26, 2013, pursuant to the SCE interconnection requests for solar PV projects Coronus Yucca Valley East 1 and 2, Coronus posted with SCE the initial interconnection financial securities, in the amounts of $12,650 and $34,990, respectively. The posting amounts for the Coronus Yucca Valley East 1 and 2 projects were determined by the results of the System Impact Studies Coronus entered into with SCE on February 2, 2012.

On December 26, 2012, effective January 1, 2013, Coronus agreed to engage Earthlight as a consultant, with Earthlight providing Coronus with advisory and consulting services (the “Services”) in respect of Coronus’ solar photovoltaic business. Under the engagement, Coronus is to pay Earthlight $8,000 per month (the “Fee”) for the Services, with the Fee due and payable at the end of each month. Mark Burgert, a control person of us, is the president and a control person of Earthlight.

On January 26, 2013, Coronus entered into a Biological Survey Agreement (the “Biological Survey Agreement”) with Phoenix Biological Consulting, LLC (“Phoenix”), where Phoenix is to perform focused biological surveys for Coronus projects Adelanto West, 29-Palms North, Joshua Tree East, Yucca Valley East, and Apple Valley East. The focused biological survey scope of work includes surveys for desert tortoise, burrowing owl, Mohave ground squirrel, and rare plants. Additionally, the scope of work includes lake and streambed delineation, as well as the development of Joshua tree relocation and management plans. The estimated total cost for performing the work is $137,310. The work was expected to begin, and did, in March, 2013, and will continue up through July, 2013. Coronus is billed at the end of each month for the services rendered during that month, and Coronus pays, and agrees to pay, Phoenix within one month after receiving each invoice.

On March 20, 2013, Coronus entered into a Master Services Agreement with solar PV systems integrator Belectric, Inc. (“Belectric”), which allows Belectric to perform Conditional Use Permit (“CUP”) application pre-engineering services for Coronus projects Adelanto West, Apple Valley East, 29-Palms North, Yucca Valley East, and Joshua Tree East. The services to be performed for each project are limited to, and may include, ALTA/ topographical surveys, geotechnical reports, water quality management plans, and hydrology studies. The services shall be completed within approximately eight weeks. The Company estimates the services will cost approximately $30,000 to $35,000 per project.

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As at June 30, 2013, our total current assets were $4,416,187 and our total current liabilities were $4,152,170, resulting in working capital of $264,017.

Off Balance Sheet Arrangements

We have no off balance sheet arrangements.

Critical Accounting Policies

There have been no material changes in our existing accounting policies and estimates from the disclosures included in our 2013 Form 10-K, except for the newly adopted accounting policies as disclosed in the interim financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are effective.

There was no change in our internal control over financial reporting during the quarter ended June 30, 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. – OTHER INFORMATION

ITEM 1A. RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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ITEM 6. EXHIBITS.

		Incorporated by reference				Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1
3.2	Bylaws.	S-1	11/07/08	3.2
3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3
3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4
3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5
3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1
4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1
10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1
10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2
10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3
10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4
10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5
10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6
10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7
10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1
10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1
10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10
10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11
10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12
10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13
10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14
10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15
10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16
10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17
10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1
10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1
10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2
10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3
10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22

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10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23
10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24
10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25
10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26
10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27
10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28
10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29
10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30
10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31
10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32
10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33
10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34
10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35
10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1
10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37
10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38
10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39
10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40
10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41
10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42
10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43
10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44
10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45
10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46
10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47
10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48
10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49
10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50
10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51
10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52

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10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53
10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54
10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55
10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56
10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57
10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58
10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59
10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60
10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61
10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62
10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63
10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64
10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65
10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66
10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67
10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68
10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69
10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70
10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71
10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72
10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73
10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74
10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75
10.76	Consent Agreement.	10-K	6/29/12	10.76
10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77
10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78

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10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79
10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80
10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81
10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82
10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83
10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84
10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85
10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86
10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87
10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88
10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89
10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90
10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91
10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92
10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93
10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94
10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95
10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96
10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97
10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1
10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1
10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2
10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3
10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4
10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5
10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6
10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7
10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8
10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1
10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.	10-Q	12/14/12	10.1

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10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.	10-Q	12/14/12	10.2
10.110	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH RE-SITE.	10-Q	2/14/13	10.110
10.111	Phoenix – Biological Habitat Assessment Agreement.	10-Q	2/14/13	10.111
10.112	Phoenix – Cultural Resources Assessment Agreement.	10-Q	2/14/13	10.112
10.113	Power Purchase Agreement – Coronus Joshua Tree East 1 LLC.	10-Q	2/14/13	10.113
10.114	Power Purchase Agreement – Coronus Joshua Tree East 2 LLC.	10-Q	2/14/13	10.114
10.115	Power Purchase Agreement – Coronus Joshua Tree East 3 LLC.	10-Q	2/14/13	10.115
10.116	Power Purchase Agreement – Coronus Joshua Tree East 4 LLC.	10-Q	2/14/13	10.116
10.117	Power Purchase Agreement – Coronus Joshua Tree East 5 LLC.	10-Q	2/14/13	10.117
10.118	Power Purchase Agreement – Coronus Apple Valley East 1 LLC.	10-Q	2/14/13	10.118
10.119	Power Purchase Agreement – Coronus Apple Valley East 2 LLC.	10-Q	2/14/13	10.119
10.120	Vacant Land Purchase Agreement – APPLE VALLEY EAST RE-SITE.	10-Q	2/14/13	10.120
10.121	Facilities Study Agreement – APPLE VALLEY EAST 1.	10-Q	2/14/13	10.121
10.122	Facilities Study Agreement – APPLE VALLEY EAST 2.	10-Q	2/14/13	10.122
10.123	Clean Focus Loan – Promissory Note.	10-Q	2/14/13	10.123
10.124	Clean Focus Loan – Security Agreement.	10-Q	2/14/13	10.124
10.125	Clean Focus Loan – Guaranty.	10-Q	2/14/13	10.125
10.126	Clean Focus Loan – Collateral Assignment of Member Interests.	10-Q	2/14/13	10.126
10.127	Clean Focus Loan – Collateral Assignment of Stock.	10-Q	2/14/13	10.127
10.128	Clean Focus Loan – Earthlight Advisory & Consulting Services Agreement.	10-Q	2/14/13	10.128
10.129	Coronus – Earthlight Consulting Services Agreement.	10-Q	2/14/13	10.129
10.130	Aegis Solar Power System Sales Agreement.	10-Q	2/14/13	10.130
10.131	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (December 31, 2012 Addendum).	10-Q	2/14/13	10.131
10.132	Power Purchase Agreement – Coronus Adelanto West 1 LLC.	10-Q	2/14/13	10.132
10.133	Power Purchase Agreement – Coronus Adelanto West 2 LLC.	10-Q	2/14/13	10.133
10.134	Power Purchase Agreement – Coronus Yucca Valley East 3 LLC.	10-Q	2/14/13	10.134
10.135	Facilities Study Agreement – JOSHUA TREE EAST 5.	10-Q	2/14/13	10.135
10.136	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (January 31, 2013 Addendum).	10-Q	2/14/13	10.136
10.137	Phoenix – Biological Survey Agreement.	10-K	7/02/13	10.137
10.138	Facilities Study Agreement – ADELANTO WEST 1.	10-K	7/02/13	10.138
10.139	Facilities Study Agreement – ADELANTO WEST 2.	10-K	7/02/13	10.139
10.140	Master Services Agreement – Belectric, Inc.	10-K	7/02/13	10.140

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10.141	Vacant Land Purchase Agreement – YUCCA VALLEY EAST #2.	10-K	7/02/13	10.141
10.142	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (March 24, 2013 Addendum).	10-K	7/02/13	10.142
10.143	Mutual Release & Termination Agreement – Belectric, Inc.	10-K	7/02/13	10.143
10.144	Clean Focus Loan – First Addendum to Promissory Note.	10-K	7/02/13	10.144
10.145	Cancellation Instructions – PHELAN SOUTH.	10-K	7/02/13	10.145
10.146	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (May 3, 2013 Addendum).	10-K	7/02/13	10.146
10.147	Clean Focus Loan – Second Addendum to Promissory Note.	10-K	7/02/13	10.147
10.148	Share Purchase and Development Services Agreement.	8-K	8/15/13	10.1
10.149	Form of Lock-Up Agreement	8-K	8/15/13	10.2
10.150	Form of Proxy.	8-K	8/15/13	10.3
10.151	Clean Focus Loan – Fourth Addendum to Promissory Note.	8-K	8/15/13	10.4
14.1	Code of Ethics.	S-1	11/07/08	14.1
14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.1	Audit Committee Charter.	S-1	11/07/08	99.1
99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2
99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3
101.INS	XBRL Instance Document.				X
101.SCH	XBRL Taxonomy Extension – Schema.				X
101.CAL	XBRL Taxonomy Extension – Calculations.				X
101.DEF	XBRL Taxonomy Extension – Definitions.				X
101.LAB	XBRL Taxonomy Extension – Labels.				X
101.PRE	XBRL Taxonomy Extension – Presentation.				X

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities on this 19th day of August, 2013.

CORONUS SOLAR INC. (Registrant) BY: JEFF THACHUK Jeff Thachuk President, Principal Executive Officer, Principal Accounting Officer, Principal Financial Officer, Secretary, Treasurer and member of the Board of Directors

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EXHIBIT INDEX

		Incorporated by reference				Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1
3.2	Bylaws.	S-1	11/07/08	3.2
3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3
3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4
3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5
3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1
4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1
10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1
10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2
10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3
10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4
10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5
10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6
10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7
10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1
10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1
10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10
10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11
10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12
10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13
10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14
10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15
10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16
10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17
10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1
10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1
10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2
10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3
10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22

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10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23
10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24
10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25
10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26
10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27
10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28
10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29
10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30
10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31
10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32
10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33
10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34
10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35
10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1
10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37
10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38
10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39
10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40
10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41
10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42
10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43
10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44
10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45
10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46
10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47
10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48
10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49
10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50
10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51
10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52

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10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53
10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54
10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55
10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56
10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57
10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58
10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59
10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60
10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61
10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62
10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63
10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64
10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65
10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66
10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67
10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68
10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69
10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70
10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71
10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72
10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73
10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74
10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75
10.76	Consent Agreement.	10-K	6/29/12	10.76
10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77
10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78

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10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79
10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80
10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81
10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82
10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83
10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84
10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85
10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86
10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87
10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88
10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89
10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90
10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91
10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92
10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93
10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94
10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95
10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96
10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97
10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1
10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1
10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2
10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3
10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4
10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5
10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6
10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7
10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8
10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1
10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.	10-Q	12/14/12	10.1

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10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.	10-Q	12/14/12	10.2
10.110	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH RE-SITE.	10-Q	2/14/13	10.110
10.111	Phoenix – Biological Habitat Assessment Agreement.	10-Q	2/14/13	10.111
10.112	Phoenix – Cultural Resources Assessment Agreement.	10-Q	2/14/13	10.112
10.113	Power Purchase Agreement – Coronus Joshua Tree East 1 LLC.	10-Q	2/14/13	10.113
10.114	Power Purchase Agreement – Coronus Joshua Tree East 2 LLC.	10-Q	2/14/13	10.114
10.115	Power Purchase Agreement – Coronus Joshua Tree East 3 LLC.	10-Q	2/14/13	10.115
10.116	Power Purchase Agreement – Coronus Joshua Tree East 4 LLC.	10-Q	2/14/13	10.116
10.117	Power Purchase Agreement – Coronus Joshua Tree East 5 LLC.	10-Q	2/14/13	10.117
10.118	Power Purchase Agreement – Coronus Apple Valley East 1 LLC.	10-Q	2/14/13	10.118
10.119	Power Purchase Agreement – Coronus Apple Valley East 2 LLC.	10-Q	2/14/13	10.119
10.120	Vacant Land Purchase Agreement – APPLE VALLEY EAST RE-SITE.	10-Q	2/14/13	10.120
10.121	Facilities Study Agreement – APPLE VALLEY EAST 1.	10-Q	2/14/13	10.121
10.122	Facilities Study Agreement – APPLE VALLEY EAST 2.	10-Q	2/14/13	10.122
10.123	Clean Focus Loan – Promissory Note.	10-Q	2/14/13	10.123
10.124	Clean Focus Loan – Security Agreement.	10-Q	2/14/13	10.124
10.125	Clean Focus Loan – Guaranty.	10-Q	2/14/13	10.125
10.126	Clean Focus Loan – Collateral Assignment of Member Interests.	10-Q	2/14/13	10.126
10.127	Clean Focus Loan – Collateral Assignment of Stock.	10-Q	2/14/13	10.127
10.128	Clean Focus Loan – Earthlight Advisory & Consulting Services Agreement.	10-Q	2/14/13	10.128
10.129	Coronus – Earthlight Consulting Services Agreement.	10-Q	2/14/13	10.129
10.130	Aegis Solar Power System Sales Agreement.	10-Q	2/14/13	10.130
10.131	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (December 31, 2012 Addendum).	10-Q	2/14/13	10.131
10.132	Power Purchase Agreement – Coronus Adelanto West 1 LLC.	10-Q	2/14/13	10.132
10.133	Power Purchase Agreement – Coronus Adelanto West 2 LLC.	10-Q	2/14/13	10.133
10.134	Power Purchase Agreement – Coronus Yucca Valley East 3 LLC.	10-Q	2/14/13	10.134
10.135	Facilities Study Agreement – JOSHUA TREE EAST 5.	10-Q	2/14/13	10.135
10.136	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (January 31, 2013 Addendum).	10-Q	2/14/13	10.136
10.137	Phoenix – Biological Survey Agreement.	10-K	7/02/13	10.137
10.138	Facilities Study Agreement – ADELANTO WEST 1.	10-K	7/02/13	10.138
10.139	Facilities Study Agreement – ADELANTO WEST 2.	10-K	7/02/13	10.139
10.140	Master Services Agreement – Belectric, Inc.	10-K	7/02/13	10.140

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10.141	Vacant Land Purchase Agreement – YUCCA VALLEY EAST #2.	10-K	7/02/13	10.141
10.142	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (March 24, 2013 Addendum).	10-K	7/02/13	10.142
10.143	Mutual Release & Termination Agreement – Belectric, Inc.	10-K	7/02/13	10.143
10.144	Clean Focus Loan – First Addendum to Promissory Note.	10-K	7/02/13	10.144
10.145	Cancellation Instructions – PHELAN SOUTH.	10-K	7/02/13	10.145
10.146	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO (May 3, 2013 Addendum).	10-K	7/02/13	10.146
10.147	Clean Focus Loan – Second Addendum to Promissory Note.	10-K	7/02/13	10.147
10.148	Share Purchase and Development Services Agreement.	8-K	8/15/13	10.1
10.149	Form of Lock-Up Agreement	8-K	8/15/13	10.2
10.150	Form of Proxy.	8-K	8/15/13	10.3
10.151	Clean Focus Loan – Fourth Addendum to Promissory Note.	8-K	8/15/13	10.4
14.1	Code of Ethics.	S-1	11/07/08	14.1
14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.1	Audit Committee Charter.	S-1	11/07/08	99.1
99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2
99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3
101.INS	XBRL Instance Document.				X
101.SCH	XBRL Taxonomy Extension – Schema.				X
101.CAL	XBRL Taxonomy Extension – Calculations.				X
101.DEF	XBRL Taxonomy Extension – Definitions.				X
101.LAB	XBRL Taxonomy Extension – Labels.				X
101.PRE	XBRL Taxonomy Extension – Presentation.				X

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Filing Compare · Coronus Solar Inc.