UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

Quarterly Report under Section 13 or 15 (d) of

Securities Exchange Act of 1934

For the quarterly period ended ~~December~~May 31, ~~2014~~2015

Commission File Number 000-54667

KOLLAGENX CORP.

(Exact name of small business issuer as specified in its charter)

INTEGRATED ELECTRIC SYSTEMS CORP.

(Former Name of small business issuer)

NEVADA	20-8624019
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

~~4850~~13949 ~~Eucalyptus~~Ramona ~~Ave~~Aave.

Chino Ca 91710

(Address of Principal Executive Offices & Zip Code)

(800) 641-8004

(Telephone Number)

Registered Agents of Nevada, Inc.

711 S Carson St. Ste. 4

Carson, NV 89701

(775) 882-4641

(Name, Address and Telephone Number of Agent for Service)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 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 past 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 (§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 [ X ] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

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.

Large accelerated filer [ ] Accelerated Filer [ ]

Non-accelerated filer [ ] Smaller reporting company [X]

(Do not check if smaller reporting company)

There were 5452,000,000 shares of Common Stock outstanding as of ~~February~~July 2017, 2015.

KOLLAGENX CORP.

TABLE OF CONTENTS

		Page No.
	Part I
Item 1.	Condensed Consolidated Financial Statements	4
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	1415
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	1517
Item 4.	Controls and Procedures	1517
	Part II
Item 1.	Legal Proceedings	1618
Item 1A.	Risk Factors	1618
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	1618
Item 3.	Defaults Upon Senior Securities	1618
Item 4.	Mine Safety Disclosures	1619
Item 5.	Other Information	1619
Item 6	Exhibits	1619
Signatures		1720

- 2 -

Item 1. Financial Statements.

The following interim unaudited financial statements of KollagenX Corp. (the "Company") for the ~~nine~~three month period ended ~~December~~May 31, ~~2014~~2015 are included with this Quarterly Report on Form 10-Q:

(a) Condensed Consolidated ~~Condensed~~Unaudited Balance Sheets as at ~~December~~May 31, ~~2014~~2015 and February 28, 2015. (b) Condensed Consolidated Unaudited Statements of Operations for the three months ended May 31, 2015 and 2014. (c) Condensed Consolidated Unaudited Statements of Cash Flows for the three months ended May 31, 2015 and 2014. (d) Notes to Condensed Consolidated Unaudited Financial Statements.

(b) Consolidated Condensed Statements of Operations and Comprehensive Loss for the three and nine months ended December 31, 2014 and the three and nine months ended November 30, 2013.

(d) Consolidated Condensed Statements of Cash Flows for the nine months ended December 31, 2014 and nine months ended November 30, 2013.

(e) Notes to Consolidated Condensed Financial Statements.

- 3 -

KollagenX Corp
Consolidated Condensed Balance Sheets
	December 31			February 28
	2014			2014
				(audited)
Assets
Current assets
Cash and cash equivalents	$	1,057		$	4,905
Accounts receivable		40,557			-
Inventory		69,985			82,244
Advance to vendor		6,600			-
Prepaid expenses and other current assets		137,777			-
Total current assets		255,976			87,149
Long term assets
Related party receivable		-			10,000
Equipment		17,236			17,236
Computer equipment		13,904			13,904
		31,140			41,140
Less: accumulated depreciation		(31,140	)		(31,140	)
Total long term assets		-			10,000
Total assets	$	255,976		$	97,149
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable and accrued expenses	$	66,824		$	39,108
Loans payable		162,020			89,350
Notes payable		187,562			75,000
Related party payable		115,045			45,654
Total current liabilities		531,451			249,112
Long term liabilities
3% unsecured note payable		199,975			-
Total long term liability		199,975			-
Stockholders' equity
Preferred stock, $0.001 par value, 5,000,000 shares authorized;
1,000,000 issued and outstanding as of September 30, 2014 and
none issued as of March 31, 2013.		1,000			-
Common stock, $0.001 par value, 750,000,000 shares authorized;
54,000,000 shares issued and outstanding
as of September 30, 2014 and March 31, 2013.		54,000			1,000
Common shares to be issued		-			-
Additional paid in capital		(194,873	)		-
Accumulated deficit		(335,577	)		(152,963	)
Total stockholders' equity		(475,450	)		(151,963	)
Total liabilities and stockholders' equity		255,976			97,149
See accompanying notes to unaudited financial statements

KollagenX Corp

Condensed Consolidated Balance Sheets

(Unaudited)

	May 31,			February 28,
	2015			2015
Assets
Current assets
Cash and cash equivalents	$	8,038		$	145
Accounts receivable - net		10,793			29,987
Inventory		63,495			68,043
Advance to vendor		10,362			6,600
Prepaid expenses and other current assets		104,442			130,385

Total current assets		197,130			235,160

Property and equipment
Property and equipment
Equipment		19,581			18,781
Computer equipment		13,904			13,904
		33,485			32,685
Less: accumulated depreciation		(31,355	)		(31,226	)
Property and equipment, net		2,130			1,459

Total assets	$	199,260		$	236,619

Liabilities and Stockholders' Deficit
Current liabilities
Accounts payable and accrued expenses	$	89,961		$	59,676
Loans payable		179,578			184,845
Notes payable		447,886			415,871
Related party payable		164,654			167,520
Total current liabilities		882,079			827,912

Stockholders' deficit
Common stock, $0.001 par value, 750,000,000 shares authorized;
54,000,000 shares issued and outstanding
as of May 31 and February 28, 2015, respectively		54,000			54,000
Additional paid in capital		(181,873	)		(181,873	)
Accumulated deficit		(554,946	)		(463,420	)
Total stockholders' deficit		(682,819	)		(591,293	)

Total liabilities and stockholders' deficit	$	199,260		$	236,619

See accompanying notes to condensed consolidated unaudited financial statements

- 4 -

KollagenX Corp Condensed Consolidated Statements of Operations (Unaudited)

Consolidated Condensed Statements of Operations

	For the three months ended May 31,
	2015			2014

Revenues, net	$	97,743		$	74,692

Cost of sales
Purchases		22,359			9,260
Freight		1,448			2,368
Total cost of sales		23,807			11,628

Gross profit		73,936			63,064
Operating expenses
Advertising and promotion		-			1,589
General and administrative		74,537			21,300
Management salaries		15,000			19,500
Trade shows		52,729			24,379
Wages		8,420			8,380
Total operating expenses		150,687			75,148

Loss from operations		(76,751	)		(12,085	)
Other expenses
Interest		14,775			1,001

Net loss	$	(91,526	)	$	(13,086	)

Loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)

Weighted average common shares
outstanding - basic and diluted		54,000,000			10,000,000

See accompanying notes to condensed consolidated unaudited financial statements

Unaudited

	For the three months ended			For the nine months ended			For the three months ended			For the nine months ended
	December 31			December 31			November 30			November 30
	2014			2014			2013			2013
Income
Revenue	$	94,638		$	220,572		$	45,516		$	223,670
Total revenue		94,638			220,572			45,516			223,670
Cost of sales
Purchases		48,453			57,096			12,556			36,844
Freight		-			3,156			2,084			6,237
Total cost of sales		48,453			60,252			14,640			43,081
Gross profit		46,185			160,320			30,877			180,589
Operating expenses
General and administrative		85,677			162,633			24,635			121,372
Management salaries		53,951			109,473			-			-
Trade shows		4,685			33,388			3,204			37,565
Wages		6,766			24,409			600			18,092
Total operating expenses		151,079			329,903			28,439			177,028
Profit (Loss) from operations		(104,894	)		(169,583	)		2,438			3,561
Other expenses
Interest		8,964			13,031			1,603			1,603
Total other expenses		8,964			13,031			1,603			1,603
Profit (Loss) for the three and nine months	$	(113,858	)	$	(182,614	)	$	835		$	1,958
Loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average common shares
outstanding - basic and diluted		54,000,000			54,000,000			10,000,000			10,000,000

See accompanying notes to unaudited financial statements

- 5 -

KOLLAGENX, CORP.

KollagenX, Corp.
Condensed Consolidated Statements of Cash Flow
(Unaudited)
	For the three months ended
	May 31,
	2015			2014
Cash flows from operating activities:
Net loss	$	(91,526	)	$	(13,086	)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation		129			-
Amortization of consulting fees		20,001			-
Changes in operating assets and liabilities:
Decrease in inventory		4,548			5,137
Decrease (increase) in accounts receivable		19,194			(2,597	)
Decrease in prepaid expense		2,180			-
Increase (decrease) in accounts payable and accrued liabilities		30,285			(4,428	)
Net cash used in operating activities		(15,188	)		(14,974	)

Cash flows from investing activities:
Property and equipment acquisitions		(800	)		-

Cash flows from financing activities:
Proceeds from refinancing note payable		65,000			-
Repayment of note payables		(32,985	)		-
Repayment of loan payables		(5,267	)		(786	)
Proceeds from (repayment of) related party payable		(2,866	)		38,100
Net cash provided by financing activities		23,882			37,314

Net increase in cash and cash equivalents		7,893			22,340

Cash and cash equivalents, beginning of period		145			4,905

Cash and cash equivalents, end of period	$	8,038		$	26,969

Supplemental disclosure of cash flow information:
Interest paid	$	758		$	1,001
Income taxes paid	$	-		$	-

~~STATEMENT~~See OFaccompanying ~~STOCKHOLDERS'~~notes ~~DEFICIT~~ to condensed consolidated unaudited financial statements

	Preferred Stock					Common Stock										Accumulated			Stockholders'
	Shares		Par Value			Shares			Par Value			APIC				Deficit			Equity
Balance, March 1, 2012		-					1,000			1,000							(124,525	)		(123,525	)
Loss for the year ended February 28, 2013							-			-							(11,526	)		(11,526	)
Balance, February 28, 2013							1,000			1,000							(136,051	)		(135,051	)
Loss for the year ended February 28, 2014		-					-			-							(16,912	)		(16,912	)
Balance, February 28, 2014 (Audited)		-					1,000			1,000							(152,963	)		(151,963	)
Issuance of Preferred Shares		1,000,000			1,000									(1,000	)					-
Merger Recapitalization 8/4/2014							54,000,000			54,000				13,000						67,000
Share Exchange per Merger Agreement							9,999,000			9,000				(216,873	)					(207,873	)
Shares cancelled and returned							(10,000,000	)		(10,000	)			10,000						-
Loss for the nine months ended December 31, 2014																	(182,614	)		(182,614	)
Balance, December 31, 2014 (Unaudited)		1,000,000		$	1,000		54,000,000		$	54,000			$	(194,873	)	$	(335,577	)	$	(475,450	)

See accompanying notes to financial statements

- 6 -

KollagenX Corp

Consolidated Condensed Statements of Cash Flow

	For the nine months ended			For the nine months ended
	December 31,			November 30,
	2014			2013
Cash flows from operating activities:
Net income (loss)	$	(182,615	)	$	1,813
Adjustments to reconcile net loss to net
cash used by operating activities:
Amortization of prepaid consulting fees		22,223			-
Changes in operating assets and liabilities:
Increase in accounts receivable		(37,155	)		-
Prepaid expenses		(160,000	)		-
Decrease in inventory		12,259			-
Accounts payable and accrued liabilities		27,716			23,043
Net cash used by operating activities		(317,573	)		24,856
Cash flows from investing activities:
Property and equipment acquisitions		-			(14,590	)
Net cash used by investing activities		-			(14,590	)
Cash flows from financing activities:
Net assets acquired from acquisition		(140,873	)		-
Increase(Reduction) in related party payable		69,391			(18,242	)
Proceeds from sale of notes payable		312,537			-
Proceeds from loans payable		72,670			6,908
Net cash provided by financing activities		313,725			(11,334	)
Net change in cash		(3,848	)		(1,068	)
Cash, beginning of period		4,905			3,456
Cash, end of period	$	1,057		$	2,388
Supplemental disclosure of cash flow information:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

See accompanying notes to financial statements

- 7 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

As of December 31, 2014

NOTE 1 - ORGANIZATION AND OPERATIONS

KollagenX Corp. (formerly known as Integrated Electric Systems Corp. and previously Raider Ventures, Inc.) was incorporated in the State of Nevada on March 5, 2007 as Northern Minerals, Inc. Our original business was to engage in the acquisition, exploration and development of natural resource properties. On July 17, 2014 our board of directors approved, both, a letter of intent and the preparation of an agreement and plan to acquire 100% of the outstanding common shares of KollagenX, Inc. a California corporation, and to effect a name change from Integrated Electric Systems Corp. to KollagenX Corp., for the sole purpose of expanding the KollagenX, Inc. business plan for the distribution of personal beauty products.

Articles of Merger to effect the merger between the newly created KollagenX Corp. and Integrated, and to change the name, from Integrated to KollagenX, were filed with and became effective with the Nevada Secretary of State on July 23, 2014. The name change was reviewed by the Financial Industry Regulatory Authority (FINRA) and approved for filing with an effective date of July 30, 2014 and became effective with the Over-the-Counter Bulletin Board at the opening of trading on July 30, 2014 under the symbol "KGNX". Our new CUSIP number is 50043U107.

A Share Exchange Agreement, between the newly created KollagenX Corp., KollagenX, Inc. and the shareholders of KollagenX, Inc. became effective August 4, 2014. Pursuant to that Share Exchange Agreement, all of the outstanding shares of KollagenX, Inc., (1,000) were traded for 10,000,000 common shares of KollagenX Corp. Simultaneously, the two shareholders of KollagenX, Inc., Rondell Fletcher and George Huerta, were elected as Directors and appointed to the Positions of President and CEO respectively, of KollagenX Corp.

KollagenX, Inc., a California corporation, was incorporated on May 15, 2009 as QWR, Inc. and changed its name to KollagenX Inc. on October 8, 2013.

~~The~~Articles ~~acquisition~~ of ~~KollagenX,~~ ~~INC. has~~Merger ~~been~~to ~~recorded~~effect asthe ~~a reverse~~ merger~~. As~~ ~~such,~~between the ~~historical~~newly ~~statements~~created of KollagenX, ~~CORP~~Corp. ~~have~~ ~~replaced~~and ~~those of KollagenX~~Integrated, ~~INC., except~~and ~~for~~to ~~the~~change ~~outstanding stock of~~ the ~~Company. A~~name, ~~pro~~from ~~forma~~Integrated ~~balance~~to ~~sheet~~KollagenX, iswere ~~presented~~filed aswith ofand ~~the~~became ~~date~~effective ofwith the ~~merger. Additionally,~~Nevada aSecretary ~~statement~~ of ~~Shareholders'~~State ~~Deficit~~on isJuly ~~included~~23, to2014. ~~illustrate~~The ~~the~~name ~~pro~~change ~~forma~~was ~~recapitalization~~reviewed ~~resultant~~by of the ~~Share~~Financial ~~Exchange~~Industry ~~Agreement. A~~Regulatory ~~pro~~Authority ~~forma~~(FINRA) ~~statement~~and ofapproved ~~operations~~for isfiling ~~presented~~with asan ifeffective ~~the merger had occurred on the~~ date of ~~inception~~July ~~(March 5~~30, ~~2007)~~2014.

~~KollagenX~~A ~~CORP.'s~~Share ~~and~~Exchange ~~KollagenX~~Agreement, ~~INC.'s~~between ~~respective~~the ~~year~~newly ~~ends~~created ~~are~~KollagenX ~~currently~~Corp., ~~March~~KollagenX, 31Inc. and ~~February~~the 28shareholders of KollagenX, ~~respectively~~Inc. ~~KollagenX~~ became effective August 4, ~~CORP~~2014. isPursuant ~~currently~~to inthat ~~the~~Share ~~process~~Exchange Agreement, all of ~~changing~~the ~~their~~outstanding ~~fiscal~~shares ~~year~~of ~~end~~KollagenX, ~~via~~Inc., ~~Amendments~~(1,000) towere traded ~~the~~for ~~Articles~~10,000,000 common shares of ~~Incorporation~~KollagenX inCorp. Simultaneously, the ~~State~~two shareholders of ~~Nevada~~KollagenX, to ~~February 28~~Inc. ~~Management~~were ~~believes~~elected ~~this~~as ~~date,~~Directors ~~the~~and ~~current~~appointed ~~fiscal~~as ~~year~~President ~~end~~and ~~date~~CEO, of ~~the~~KollagenX ~~Operating~~Corp. ~~Company~~The (acquisition of KollagenX, INC.), has ~~would~~been berecorded ~~better~~as ~~suited~~a ~~for~~reverse merger since the shareholders of KollagenX retain the control of the new company ~~and~~. The ~~shareholders~~historical ~~alike~~statements are those of KollagenX Inc."

KollagenX Corp.'s and KollagenX Inc.'s respective year ends were March 31 and February 28. KollagenX, Corp. has changed its fiscal year end to February 28.

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

~~The~~These ~~interim financial~~ statements ~~included~~reflect ~~herein~~all adjustments, ~~presented~~consisting inof ~~accordance~~normal ~~with~~recurring ~~United~~adjustments, ~~States~~which, ~~generally accepted accounting principles and stated~~ in ~~US dollars, have been prepared by~~ the ~~Company,~~opinion ~~without~~of ~~audit~~management, ~~pursuant~~are tonecessary ~~the~~for ~~rules~~fair ~~and~~presentation ~~regulations~~ of the ~~Securities~~information ~~and~~contained ~~Exchange Commission~~therein. ~~Certain~~It ~~information~~is ~~and~~suggested ~~footnote~~that ~~disclosures~~these ~~normally~~condensed ~~included~~consolidated in financial statements ~~prepared~~be read in ~~accordance~~conjunction with ~~generally~~the ~~accepted~~financial ~~accounting~~statements ~~principles~~and ~~have~~notes ~~been~~thereto ~~condensed~~included orin ~~omitted pursuant to such rules and regulations, although~~ the Company's ~~believes~~annual ~~that~~report ~~the~~on ~~disclosures~~Form ~~are~~10-K ~~adequate~~for ~~to make~~ the ~~information~~year ~~presented~~ended ~~not~~February ~~misleading. Additionally~~28, ~~these~~2015. ~~interim~~The ~~financial~~Company ~~statements~~follows ~~should~~the besame ~~read~~accounting policies in ~~conjunction~~preparation ~~with~~of ~~the~~interim ~~financial~~reports. ~~statements~~Results of ~~the~~operations ~~Company~~ for the ~~year~~interim ~~ended~~periods ~~February~~are ~~28,~~not ~~2014~~indicative ~~and~~of ~~notes~~annual ~~thereto~~results. All ~~included~~inter-company intransactions ~~the~~have ~~Company's~~been ~~Amended~~eliminated ~~Super 8K, as filed with the SEC~~ on ~~August 18, 2014~~consolidation.

-For 8comparative -purposes, prior year's condensed consolidated financial statements have been reclassified to conform to report classifications of the current year.

- 7 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

As of December 31, 2014

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the year ended March 31, 2014 and notes thereto included in the Company's Form 10-K. The Company follows the same accounting policies in the preparation of interim reports.

Operating results for the three and nine months ended December 31, 2014 are not necessarily indicative of the results that may be expected in the annual report.

Summary of Significant Accounting Policies

This summary of significant accounting policies of KollagenX Corp. is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management who is responsible for the integrity and objectivity of the financial statements. These accounting policies conform to generally accepted accounting principles and have been consistently applied in the preparation of the financial statements.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and cash equivalents

Cash ~~consists of petty cash, checking, savings,~~ and ~~money market accounts. For the purpose of the statements of~~ cash ~~flows,~~equivalents include all highly liquid ~~investments~~debt instruments with an original ~~maturity~~maturities of three months or less which are ~~considered~~not tosecuring beany ~~cash~~corporate ~~equivalents~~obligations. ~~There were no cash equivalents as of December 31, 2014 and February 28, 2014.~~

The Company maintains its cash in bank deposit accounts which, at times, may exceed federal insured limits. The Company has not experienced any losses in such accounts.

Accounts Receivable

Accounts receivable are carried at their estimated collectible amounts. ~~The Company provides allowances for uncollectible accounts receivable equal to the estimated collection losses that will be incurred in collection of all receivables.~~ Accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. The Company's management determines which accounts are past due and if deemed uncollectible, the Company charges off the receivable in the period the determination is made. ~~The Company generally requires no collateral to secure its ordinary accounts receivable.~~

Property and Equipment

Property and equipment ~~are~~consists ~~stated~~primarily atof ~~cost~~office equipment and ~~depreciated~~computer ~~using~~equipment, ~~both straight-line~~ and ~~accelerated~~is ~~methods~~recorded ~~over~~at ~~estimated~~historical ~~useful~~cost. ~~lives~~Major ~~ranging~~additions ~~from~~and 3improvements toare 5capitalized ~~years.~~as ~~Upon~~additions ~~disposition~~to ofthe property and equipment accounts, ~~related~~while ~~gains~~replacements, maintenance and ~~losses~~repairs ~~are~~that ~~recorded~~do innot ~~operations.~~improve ~~Expenditures~~or ~~for~~extend ~~major~~the ~~renewals~~life ~~and~~of ~~betterments~~the ~~that~~respective ~~extend~~assets, ~~the~~are ~~useful~~expensed ~~lives~~as incurred. Depreciation and amortization of property and equipment are ~~capitalized.~~computed ~~Expenditures~~on ~~for~~a ~~maintenance~~straight-line ~~and~~basis ~~repairs~~over ~~are~~the ~~charged~~estimated touseful ~~expenses~~lives asranging ~~incurred~~from 3 to 5 years.

~~- 9 -~~Inventory

Substantially all inventory consists of finished goods and is valued at the lower of cost (first-in, first-out) or market. The determination of whether the carrying amount of inventory requires a write-down is based on a detailed evaluation of inventory relative to any potential slowing moving products or discontinued items as well as the market conditions for the specific inventory items.

- 8 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~May 31, 2015

As of December 31, 2014

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Inventory

Substantially all inventory consists of finished goods and is valued based upon first-in first-out ("FIFO") cost, not in excess of market. The determination of whether the carrying amount of inventory requires a write-down is based on a detailed evaluation of inventory relative to any potential slowing moving products or discontinued items as well as the market conditions for the specific inventory items.

Advertising

The Company generally expenses advertising costs as incurred.

Depreciation and amortization

Depreciation and amortization expense primarily consists of the non-cash write-down of tangible and intangible assets over their expected economic lives. We expect this expense to continue to grow in absolute dollars and potentially as a percentage of revenue as we continue to grow and incur capital expenditures to improve our technological infrastructure and acquire assets through potential future acquisitions.

Revenue Recognition

Revenue ~~consists~~comprises of product sales at market ~~minus~~less any discount afforded to a client or customer, and professional services and products sold.

WeThe ~~recognize~~Company's revenue ~~when~~recognition ~~persuasive~~policies ~~evidence~~are in compliance with Staff accounting bulletin (SAB) 104. Sales revenue is recognized at the date of anshipment to customers when a formal arrangement exists, ~~pricing~~the price is fixed ~~and~~or determinable, ~~collection~~the delivery is ~~reasonably~~completed, ~~assured~~no ~~and~~other ~~delivery~~significant orobligations ~~performance~~ of ~~service~~the ~~has~~Company ~~occurred.~~exist ~~Customer~~and ~~prepayments~~collect-ability ~~are~~is ~~reflected~~reasonably asassured. ~~deferred~~Payments ~~revenue~~received asbefore ~~long~~all asof ~~there~~the isrelevant ~~persuasive~~criteria ~~evidence~~for ~~that~~revenue ~~the~~recognition ~~purchased~~are ~~product~~satisfied ~~will~~are berecorded ~~shipped~~as ~~within~~unearned ~~a reasonable time~~revenue.

~~Sales~~We recognize revenue isfor ~~recognized~~product sales upon ~~the~~ shipment ofand ~~merchandise~~when title is transferred to ~~customers~~the customer.

Terms of our sales generally provide for Shipment from our facilities to customers FOB point of shipment. Title passes to customers at the time the products leave our warehouse.

Professional and consulting services related to the implementation and use of our products, are generally performed on a fixed fee basis under separate service arrangements.

Fair Value of Financial Instruments

The Company's ~~financial~~applies ~~instruments~~the ~~include~~provisions ~~cash,~~of ~~accounts~~ASC ~~receivable~~820-10, "Fair ~~accounts~~Value ~~payable,~~Measurements and ~~notes payable~~Disclosures." ASC ~~All~~820-10 ~~instruments~~defines ~~are~~fair ~~accounted~~value, ~~for~~and onestablishes a ~~historical~~three-level ~~cost~~valuation ~~basis,~~hierarchy ~~which,~~for ~~due~~disclosures toof ~~the~~fair ~~short~~value ~~maturity~~measurement ofthat ~~these~~enhances disclosure requirements for fair value measures. For certain financial instruments, ~~approximates~~including ~~fair~~cash ~~value~~and atcash ~~December~~equivalents, 31restricted cash, ~~2014~~accounts receivable, accounts payable and ~~February~~short-term 28debt, ~~2014~~the carrying amounts approximate fair value due to their relatively short maturities. The ~~Company~~carrying ~~did~~amounts ~~not~~of ~~engage~~the inlong-term ~~any~~debt ~~transaction~~approximate ~~involving~~their ~~derivative~~fair values based on current interest rates for instruments with similar characteristics.

AsThe ~~required~~three bylevels ~~the Fair Value Measurements and Disclosures Topic~~ of ~~the~~valuation ~~FASB ASC, fair value is measured based on a three-tier fair value~~ hierarchy, ~~which~~are ~~prioritizes~~defined ~~the inputs used in measuring fair value~~ as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

~~The~~Level ~~three~~1: ~~levels~~Valuations consist of ~~the~~unadjusted ~~fair~~quoted ~~value~~prices ~~hierarchy~~in ~~are~~active ~~described~~markets ~~below:~~for identical assets and liabilities and has the highest priority;

-Level 102: -Valuations rely on quoted prices in markets that are not active or observable inputs over the full term of the asset or liability;

Level 3:

Valuations are based on prices or third party or internal valuation models that require inputs that are significant to the fair value measurement and are less observable and thus have the lowest priority.

- 9 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

As of December 31, 2014

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

~~Level~~Management 1:analyzes ~~Unadjusted~~all ~~quoted~~financial ~~prices~~instruments inwith ~~active~~features ~~markets~~of ~~that~~both liabilities and equity under ASC 480, "Distinguishing Liabilities From Equity" and ASC 815, "Derivatives and Hedging." Derivative liabilities are ~~accessible~~adjusted to reflect fair value at each period end, with any increase or decrease in the ~~measurement~~fair ~~date~~value being recorded in results of operations as adjustments to fair value of derivatives. The effects of interactions between embedded derivatives are calculated and accounted for ~~identical~~in arriving at the overall fair value of the financial instruments. In addition, ~~unrestricted~~the ~~assets~~fair orvalues ~~liabilities;~~ of freestanding derivative instruments such as warrant and option derivatives are valued using the Black-Scholes model.

Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Recent Accounting Pronouncements

On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915). Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders' equity, (2) label the financial statements as those of a development stage entity; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued. The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements.

There are no other recent accounting pronouncements that are expected to have a material effect on the Company's financial statements.

~~Share-based~~Earnings ~~Compensation~~(Loss) -per ~~The Company recognizes share-based compensation, including stock option grants, warrants and restricted stock grants at their fair value on the grant date.~~ Share ~~based payment awards issued to non~~-employees for services rendered are recorded at either the fair value of the services rendered or the fair value of the share-based payment, whichever is more readily determinable. Compensation expense is generally recognized on a straight-line basis over the vesting period.

~~Dividends~~We -utilize ~~The~~FASB ~~payment~~ASC of260, ~~dividends~~"Earnings byper ~~the~~Share." ~~Company~~Basic inearnings ~~the~~(loss) ~~future~~per ~~will~~share beis atcomputed ~~the~~by ~~discretion~~dividing ofearnings (loss) available to common stockholders by the ~~Board~~weighted-average number of ~~Directors~~common ~~and~~shares ~~will~~outstanding. ~~depend~~Diluted on earnings, ~~capital~~(loss) ~~requirements~~per ~~and~~share ~~financial~~is ~~condition,~~computed assimilar ~~well~~to asbasic ~~other~~earnings ~~relevant~~(loss) ~~factors. The~~per ~~Company~~share ~~does~~except ~~not~~that ~~intend~~the denominator is increased to ~~pay~~include ~~any~~additional ~~cash~~common ~~dividends~~shares inavailable ~~the~~upon ~~foreseeable~~exercise ~~future~~of ~~but~~stock ~~intend~~options toand ~~retain~~warrants ~~all~~using ~~earnings,~~the iftreasury ~~any~~stock method, except for ~~use~~periods inof ~~the~~operating ~~business~~loss for which no common share equivalents are included because their effect would be anti-dilutive.

~~Earnings (Loss) per Share~~ - ~~Basic~~10 earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share is computed by dividing net income (loss), adjusted for changes in income or loss that resulted from the assumed conversion of convertible shares, by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.-

The computation of basic and diluted loss per share for the periods presented is equivalent since the Company had continuing losses. The Company had no common stock equivalents as of September 30, 2014.

Risks and Uncertainties - The Company's operations and future are dependent in a large part on its ability to develop its business model in a competitive market. The Company intends to operate in an industry that is subject to intense competition and change in consumer demand. The Company's operations are subject to significant risk and uncertainties including financial and operational risks and the potential risk of business failure. The Company's inability to meet its business plan and target customer demand may have a material adverse effect on its financial condition, results of operations and cash flows.

Principles of Consolidation

All intercompany balances and transactions, among the companies, have been eliminated upon consolidation.

- 11 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

As of December 31, 2014

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are established for temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities at tax rates expected to be in effect when such assets or liabilities are realized or settled. Deferred income tax assets are reduced by valuation allowances when necessary.

Assessing whether deferred tax assets are realizable requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. The ultimate realization of deferred tax assets is often dependent upon future taxable income and therefore can be uncertain. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company's deferred tax assets, which increase income tax expense in the period when such a determination is made.

Income taxes include the largest amount of tax benefit for an uncertain tax position that is more likely than not to be sustained upon audit based on the technical merits of the tax position. Settlements with tax authorities, the expiration of statutes of limitations for particular tax positions, or obtaining new information on particular tax positions may cause a change to the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes on the statements of operations.

At- ~~December~~11 ~~31, 2014 and February 28, 2014, the Company determined that it has no tax liability and no tax benefit.~~-

NOTE 3- ACQUISITION OF KOLLAGENX INC.

On August 4, 2014, the Company completed, as reported on Form 8K filed on August 13, 2014, through a Stock Purchase Agreement, the acquisition of KollagenX Inc. a California corporation focused on the cosmetics business.

The acquisition of KollagenX, INC. has been recorded as a reverse merger. As such, the historical statements of KollagenX, CORP. have replaced those of KollagenX, INC., except for the outstanding stock of the Company. A pro forma balance sheet is presented as of the date of the merger. Additionally, a statement of Shareholders' Deficit is included to illustrate the pro forma recapitalization resultant of the Share Exchange Agreement. A pro forma statement of operations is presented as if the merger had occurred on the date of inception (March 5, 2007).

KollagenX CORP.'s and KollagenX, INC.'s respective year ends are currently March 31 and February 28, respectively. KollagenX, CORP. is currently in the process of changing their fiscal year end, via Amendments to the Articles of Incorporation in the State of Nevada, to February 28. Management believes this date, the current fiscal year end date of the Operating Company (KollagenX, INC.), would be better suited for the company and shareholders alike.

The purchase price, for 100% of the issued and outstanding common shares of KollagenX Inc., was 10,000,000 restricted common shares of KollagenX Corp issued to the shareholders of KollagenX Inc.

The operations of KollagenX Inc are included in the condensed combined balance sheets for the nine months ended November 30, 2014 and February 28, 2014 and in the income statement for the nine and three months ended December 31, 2014 and 2013.

- 12 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

AsNOTE 3 of- ~~December~~GOING ~~31, 2014~~CONCERN

~~NOTE~~The 4accompanying -financial ~~GOING~~statements ~~CONCERN~~have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the financial statements, during the three months ended May 31, 2015 and 2014, respectively, the Company incurred net losses of $91,526 and $13,086 and as of May 31, 2015 had an accumulated deficit of $554,946. The KollagenX Inc. revenue for the three months ended May 31, 2015 was $97,743 as compared to $74,692 for the same period in 2014. If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether. These factors raise substantial doubt about the Company's ability to continue as a going concern.

The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the financial statements, during the nine months ended December 31, 2014, the Company incurred net losses of $182,613 had an accumulated deficit of $335,577. The KollagenX Inc. revenue for the nine months ended December 31, 2014 through November 30, 2014 was $220,572 as compared to $223,670 for the same period in 2013. If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether. These factors raise substantial doubt about the Company's ability to continue as a going concern.

The financial statements do not include any adjustment relating to the recoverability and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company is taking ~~certain~~ steps to provide the necessary capital to continue its operations. These steps ~~included~~include, but are not limited to: 1) focus on sales to minimize the need for capital ~~at this stage~~; 2) converting part of the outstanding accounts payable to equity; 3) raising equity financing; 4) continuous focus on reductions in cost where possible.

NOTE 4 5 – ~~ACCOUNTS~~PREPAID ~~RECEIVABLE~~EXPENSES

On ~~December~~September 3122, 2014 the Company ~~had~~entered ~~accounts~~into ~~receivable~~a oftwenty-four ~~$46~~month consulting agreement,~~613~~ ~~and~~with ~~determined~~a Company that anhas ~~allowance~~expertise ~~for~~in ~~potential~~providing ~~uncollectability~~management advice and financial services advice. The entire fee of $6160,~~176~~000 was ~~appropriate~~paid in advance and will be amortized in equal monthly amounts over the twenty-four months. ~~There~~$55,558 ~~were~~was noamortized ~~accounts~~for ~~receivable~~the onperiod ~~February~~September 2822, 2014 through May 31, 2015. The consulting fee amortization for the three month periods ended May 31, 2015 and 2014 amounted to $20,001 and $0, respectively.

~~NOTE~~- 612 ~~– INVENTORY~~-

~~The~~KOLLAGENX ~~Company's inventory of merchandise held for resale, on December 31, 2014, was $69,985, valued on a first in, first out basis as compared to $82,244 at February 28, 2014, similarly valued~~CORP. ~~The difference is attributable to normal business practices.~~

~~NOTE~~Notes 7–to ~~PREPAID~~Unaudited ~~EXPENSES~~Condensed Consolidated Financial Statements

OnAs ~~September~~at ~~22,~~May 2014 the Company entered into a twenty-four month consulting agreement, with a Company that has expertise in providing management advice and financial services advice. The entire fee of $160,000 was paid in advance and will be amortized in equal monthly amounts over the twenty-four months. $22,223 was amortized for the period September 22, 2014 through December 31, ~~2014.~~2015

NOTE 5 8 – ~~ACCOUNTS~~LOANS AND NOTES PAYABLE

On December 31, 2014, trade accounts payable amounted to $66,824 compared to $39,108 at February 28, 2014.

	May 31,		February 28,
	2015		2015
Unsecured non interest bearing loan payable, no maturity date		67,409		67,935
Unsecured non interest bearing loan payable, no maturity date		16,957		19,221
Unsecured non interest bearing loan payable, no maturity date		25,000		25,000
Total unsecured non interest bearing loans payable		109,366		112,156
Unsecured non interest bearing note payable, no maturity date		70,212		72,689
Total unsecured non interest bearing loans and notes payable	$	179,578	$	184,845
4% unsecured promissory note payable, dated August 13, 2012 , due August 13, 2014		30,000		30,000
4% unsecured promissory note payable, dated December 18, 2012 due December 18, 2014.		50,000		50,000
4%Unsecured promissory note payable, dated June 13, 2013 , due June 13, 2015.		20,000		20,000
4% unsecured promissory note payable, dated October 7, 2013 , due October 7, 2014.		10,000		10,000
4% unsecured promissory note payable, dated December 18, 2013, due December 18, 2014.		5,000		5,000
4% unsecured promissory note payable, dated February 19, 2014 , due February 19, 2015.		5,000		5,000
4% unsecured promissory note payable, dated April 16, 2014 , due April 16, 2015.		10,000		10,000
4% unsecured promissory note payable, dated June 24, 2014 , due June 24, 2015.		6,000		6,000
		136,000		136,000
3% unsecured promissory note payable dated September 15, 2014, due September 15, 2015		10,000		10,000
6% unsecured promissory note payable dated July 31, 2014 due January 31, 2015		16,562		16,562
6% unsecured promissory note payable dated July 31, due July 31, 2015		25,000		25,000
		187,562		187,562
18% promissory note guaranteed by 2 directors, dated December 5, 2014 and repayable
in 189 daily payments of $249.74		60,349		28,334
3% convertible due February 21, 2016		199,975		199,975
	$	447,886	$	415,871
Related party debt	$	164,654	$	167,520
Total loans and notes payable	$	792,118	$	768,236

- 13 -

KOLLAGENX CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

~~(Unaudited)~~As at May 31, 2015

AsNOTE of6 ~~December~~- ~~31,~~STOCKHOLDERS' ~~2014~~DEFICIT

~~NOTE~~As 9of –May ~~NOTES~~31, ~~AND~~2015, ~~LOANS~~there ~~PAYABLE~~were 54,000,000 shares of common stock outstanding.

	December 31,		February 28,
	2014		2014
Current Liabilities
Unsecured non interest bearing loan payable, no maturity date	$	68,459	$	70,165
Unsecured non interest bearing loan payable, no maturity date		20,029		19,185
Unsecured non interest bearing loan payable, no maturity date		73,532
Total loans payable		162,020		89,350
Unsecured non interest bearing loan payable, no maturity date		-		75,000
4% unsecured promissory note payable, dated August 13, 2012 , due August 13, 2014		30,000		-
4% unsecured promissory note payable, dated December 18, 2012 due December 18, 2014.		50,000		-
4%Unsecured promissory note payable, dated June 13, 2013 , due June 13, 2015.		20,000		-
4% unsecured promissory note payable, dated October 7, 2013 , due October 7, 2014.		10,000		-
4% unsecured promissory note payable, dated December 18, 2013, due December 18, 2014.		5,000		-
4% unsecured promissory note payable, dated February 19, 2014 , due February 19, 2015.		5,000		-
4% unsecured promissory note payable, dated April 16, 2014 , due April 16, 2015.		10,000		-
4% unsecured promissory note payable, dated June 24, 2014 , due June 24, 2015.		6,000		-
		136,000
3% unsecured promissory note payable dated September 15, 2014, due September 15, 2015		10,000		-
6% unsecured promissory note payable dated July 31, 2014 due January 31, 2015		16,562		-
6% unsecured promissory note payable dated July 31, due July 31, 2015		25,000		-
	$	187,562	$	75,000
	$	349,582	$	164,350
Related party debt	$	115,045	$	45,653
Long Term Liabilities
3% convertible due February 21, 2016	$	199,975	$	-

NOTE 10 - STOCKHOLDERS' DEFICIT

As of December 31, 2014, there were 54,000,000 shares of common stock outstanding, and 1,000,000 preferred shares outstanding. 10,000,000 common shares were issued pursuant to the Stock Exchange agreement and Eco Investment Properties contributed 10,000,000 of its common share holdings back to the Company which were cancelled.

Preferred Stock

As of December 31, 2014, there were 525,000,000 preferred shares authorized and 1,000,000 preferred shares outstanding~~, which had been issued to a director for services rendered and were expensed at $0~~.001 per share. The issued preferred shares were returned to the Company in January 2015, and appropriate documentation was completed to remove the preferred designation from the Articles of Incorporation.

~~The~~On ~~board~~January 20, 2015 the Board of ~~directors~~Directors ~~had~~resolved ~~previously~~to ~~set~~withdraw the ~~voting~~Certificate ~~rights~~of Designation for the Class A preferred, ~~stock~~which atshares 1had ~~share~~been returned to the Company. Appropriate documents were completed and filed with the State of ~~preferred~~Nevada to ~~250~~amend ~~common~~the ~~shares~~Company's Articles of Incorporation to delete the preferred share designation.

- 14 -

The holders of the Class A Preferred Stock shall vote for the election of directors, and shall have full voting rights, except that each Class

A Preferred share shall ensure one holder to seven hundred fifty (750) votes for each one (1) Class A Preferred Share held. The Class A Preferred Stock shall not be redeemable but the holders shall be entitled, at any time, to convert their shares into shares of the Company's Common Stock at the rate of one (1) share of Class A Preferred Stock for one (1) share of Common Stock. On January 20, 2015 the Board of Directors resolved to withdraw the Certificate of Designation for the Class A preferred, which shares had been returned to the Company. Appropriate documents were completed and filed with the State of Nevada to amend the Company's Articles of Incorporation to delete the preferred share designation.

Common Stock

On ~~December~~August 314, 2014 pursuant to the ~~Company~~Stock ~~had~~Exchange ~~750~~Agreement,~~000,000~~ for the acquisition of 100% of the outstanding common shares, ~~par~~of ~~value~~KollagenX $0Inc.~~001~~, ~~authorized~~the ~~and~~Company 54agreed to issue 10,000,000 of its Common Shares to the shareholders of KollagenX Inc. The shares were issued ~~and~~on ~~outstanding~~November 14, 2014.

OnNOTE ~~August~~7 4,- ~~2014~~RELATED ~~pursuant~~PARTY to the Stock Exchange Agreement, for the acquisition of 100% of the outstanding common shares of KollagenX Inc., the Company agreed to issue 10,000,000 of its Common Shares to the shareholders of KollagenX Inc. The shares were issued on November 14, 2014. On the same date, Eco Investment Properties contributed 10,000,000 of its common share holdings back to the Company, leaving the total issued and outstanding at 54,000,000 shares.TRANSACTIONS

~~NOTE~~The 11Company -borrows ~~RELATED~~funds ~~PARTY~~from ~~TRANSACTIONS~~its two directors from time to time for its working capital requirements and sometimes utilizes their credit cards to pay some expenses. These loans are unsecured, non interest bearing and due on demand. As of May 31, 2015 and February 28, 2015 the Company owed $164,654 and $167,520 to the directors and a related third party, respectively.

As NOTE of8 ~~December~~- ~~31,~~SUBSEQUENT ~~2014, KollagenX Inc. owed $33,800 and $72,379 to each of its two directors respectively.~~EVENTS

~~NOTE~~On 12July -17, ~~SUBSEQUENT~~2015 ~~EVENTS~~the Company cancelled 2,000,000 shares of its restricted common stock. The Company has evaluated subsequent events through the date the financial statements were issued and has not identified any reportable events.

On- ~~January~~14 16, 2015, the Company accepted the offer of the Director, holding the 1,000,000 preferred shares, to return the shares to the Company and on January 20, 2015 filed a Certificate of Withdrawal and amended-

- 15 -

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act. The words "believes," "anticipates," "plans," "seeks," "expects," "intends" and similar expressions identify some of the forward-looking statements. Forward-looking statements are not guarantees of performance or future results and involve risks, uncertainties and assumptions. The factors discussed elsewhere in this Form 10-Q could also cause actual results to differ materially from those indicated by the Company's forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

Business and Plan of Operation

KollagenX Corp. (formerly known as Integrated Electric Systems Corp. and previously Raider Ventures, Inc.) was incorporated in the State of Nevada on March 5, 2007 as Northern Minerals, Inc.

Our original business was to engage in the acquisition, exploration and development of natural resource properties. We received the results of Phase 1 and Phase 1A of the exploration program from the consulting geologist. The findings were not promising and management determined it was in the best interests of the shareholders to allow the claim to lapse.

On July 17, 2014, our board of directors approved an agreement and plan of merger to merge with our wholly-owned subsidiary KollagenX Corp., a Nevada corporation, to effect a name change from Integrated Electric Systems Corp. to KollagenX Corp. KollagenX Corp. was formed solely for the change of name and business plan for the distribution of personal beauty products.

Articles of Merger to effect the merger and change of name were filed and became effective with the Nevada Secretary of State on July 23, 2014.

The name change has been reviewed by the Financial Industry Regulatory Authority (FINRA) and ~~has~~was ~~been~~ approved for filing with an effective date of July 30, 2014.

The name change became effective with the Over-the-Counter Bulletin Board at the opening of trading on July 30, 2014 under the symbol "KGNX". Our new CUSIP number is 50043U107.

On August 4, 2014 KollagenX Corp. exchanged 10,000,000 of its Common Shares with the shareholders of KollagenX Inc. in return for 1,000 Common Shares, of KollagenX Inc., which were all the issued and outstanding common shares of KollagenX Inc., whose business plan is based on the distribution of personal beauty products.

- 1615 -

The acquisition of KollagenX, ~~INC~~Inc. has been recorded as a reverse merger. As such, the historical statements of KollagenX, ~~CORP~~Corp. have replaced those of KollagenX, ~~INC~~Inc., except for the outstanding stock of the Company. A pro forma balance sheet is presented as of the date of the merger. Additionally, a statement of Shareholders' Deficit is included to illustrate the pro forma recapitalization resultant of the Share Exchange Agreement. A pro forma statement of operations is presented as if the merger had occurred on the date of inception (March 5, 2007).

KollagenX ~~CORP~~Corp.'s and KollagenX, ~~INC~~Inc.'s respective year ends ~~are~~were ~~currently~~ March 31 and February 28, ~~respectively~~. KollagenX, ~~CORP~~Corp. ishas ~~currently~~changed ~~in the process of changing~~ their fiscal year end, ~~via Amendments~~ to ~~the Articles of Incorporation in the State of Nevada, to~~ February 28. ~~Management believes this date, the current fiscal year end date of the Operating Company (KollagenX, INC.), would be better suited for the company and shareholders alike."~~

During the next twelve months we anticipate spending approximately $20,000 on professional fees, including fees payable in complying with reporting obligations, and general administrative costs.

Liquidity and Capital Resources

Total current assets at ~~December~~May 31, ~~2014~~2015 were $~~255~~197,~~916~~130 ana ~~increase~~decrease of $~~168~~38,~~817~~031 compared to $~~87149~~235,160 at February 28, ~~2014~~2015. Included in current assets were trade accounts receivable of $4010,~~557~~793 the proceeds of which were expected to be collected in the normal course of business, compared to $0.29,987 accounts receivable at February 28, ~~2014~~2015; inventory of $6963,~~985~~495 compared to $8268,~~244~~043 at February 28, ~~2014~~2015; advances to a vendor for product to be shipped of $610,~~600~~362 compared to $0.6,600 at February 28, ~~2014~~2015; and prepaid expenses of $~~137~~104,~~777~~442 compared to $0.130,385 at February 28, ~~2014~~2015. The ~~increase~~decrease in prepaid expenses, of $25,943 is the ~~unamortized~~amortization cost resulting from the prepayment of a two year consulting agreement.

Our cash in the bank at ~~December~~May 31, ~~2014~~2015 was $18,~~057.~~038 compared to $145 at February 28, 2015. Outstanding accounts payable were $ 6689,~~824~~961 plus other current liabilities of $~~464~~792,~~627~~118 compared to $459,~~905~~676 ~~cash on hand~~ and $~~$210~~768,~~000~~236 in other current liabilities as of February 28, ~~2014~~2015. In both ~~years~~periods the other current liabilities consist of loans from third parties and related parties, none of which have a maturity date nor are being demanded by the lenders.

KollagenX ~~Inc~~Corp. had $178,~~933~~038 cash on hand at ~~December~~May 31, ~~2014~~2015, which would be adequate, assuming the current level of sales, to sustain operations for approximately ~~four~~two months. ~~Management~~ The ~~has~~Company ais ~~plan~~taking insteps ~~place,~~ to provide ~~adequate~~the ~~additional~~necessary ~~working~~ capital to continue its operations. These steps include, but are not limited to: ~~sustain~~1) focus on sales to minimize the ~~Company's~~need ~~operations~~for ~~into~~capital; 2) converting part of the ~~foreseeable~~outstanding ~~future~~accounts payable to equity; 3) raising equity financing; 4) continuous focus on reductions in cost where possible. Without that funding, the Company will not be able to maintain operations at the current level.

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Results of Operations

Although KollagenX Corp. has not generated any revenue, our wholly owned subsidiary KollagenX Inc., recorded $~~220~~97,~~572~~743 in net revenue for the ~~nine~~three months ended ~~November~~May, 3031, ~~2014~~2015 compared to net revenue of $~~223~~74,~~670~~692 for the ~~nine~~three months ended ~~November~~May 3031, ~~2013~~2014. Our loss for the ~~nine~~three months ended ~~December~~May 31, ~~2014~~2015 was $~~182~~91,~~613~~526 compared to a ~~profit~~loss of $113,~~958~~086 for the same period in ~~2013~~2014. The loss was due primarily to the added costs of adding KollagenX Corp. and ~~those~~the costs associated with the required filings and audits as well as the total cost of the preparation of the merger agreements and related filings. Our accumulated deficit since inception, including KollagenX Inc. through ~~December~~May 31, ~~2014~~2015 was $~~335~~554,~~577~~946. As a result of allowing our sales, to a "major retailer", to become a significant portion of our sales for that period, our gross margin suffered substantially during the three month period ended December 31, 2014, dropping from 73% to 49%.

We incurred operating expenses of $~~151~~150,~~079~~687 ~~and~~during ~~$329,904 for~~ the three months ~~and nine months~~ ended ~~December~~May 31, ~~2014~~2015 as compared to $2875,~~439~~148 ~~and $177,028~~ for the ~~three~~same ~~and~~period ~~nine~~in ~~months ended December 31, 2013 respectively~~2014. The increase in expenses for the three ~~and nine~~ months ended ~~December~~May 31, ~~2014~~2015 consisted of general operating expenses and professional fees, associated with the operations of KollagenX Inc. and KollagenX Corp.as compared to the general and administrative costs for KollagenX Inc. for the three ~~and~~months ~~nine~~ended May 31, 2014. As a result of attending additional trade shows that cost increased $52,729 for the three months ended ~~November~~May 3031, ~~2013~~2015 compared to $24,379 for the three months ended May 31, 2014.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information required by this item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Management maintains "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed in KollagenX Corp.'s Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

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In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of ~~December~~May 31, ~~2014~~2015.

Based on that evaluation, management concluded, as of the end of the period covered by this report, that KollagenX Corp.'s disclosure controls and procedures were ineffective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission's rules and forms.

Changes in Internal Controls over Financial Reporting

As of the end of the period covered by this report, there have been no changes in KollagenX Corp.'s internal controls over financial reporting during the quarter ended ~~December~~May 31, ~~2014~~2015, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management's last evaluation.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

~~Neither~~There ~~KollagenX~~has ~~Corp.~~been ~~nor~~no ~~KollagenX~~change ~~Inc.~~to isthe ~~currently~~Risk ~~involved~~Factors disclosed in ~~any~~our ~~legal~~Form ~~proceedings~~10-K ~~and~~filed wewith ~~are~~the ~~not~~Securities ~~aware~~and ofExchange ~~any~~Commission ~~pending~~for orthe ~~potential~~year ~~legal actions~~ended February 28, 2015.

Item 1A. Risk Factors

There has been no change to the Risk Factors disclosed in our Form 10-K filed with the Securities and Exchange Commission for the year ended ~~March~~February 3128, ~~2014~~ 2015.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

There were no sales of unregistered securities during the period covered by this report.

Item 3. Defaults upon Senior Securities.

There were no defaults upon senior securities during the period covered by this report.

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Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Form SB-2 Registration Statement, filed under SEC File Number 333-144840, at the SEC website at www.sec.gov:

Exhibit No.	Description

3.1	Articles of Incorporation*
3.2	Bylaws*
31	Rule 13a-14(a)/15d-14(a) Certification
32	Certification Pursuant to 18 U.S.C. 1350
101	Interactive data files pursuant to Rule 405 of Regulation S-T

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 23, 2015
July 30, 2015
	By	/s/ Rondell Fletcher
		Rondell Fletcher
		President
		Secretary, Treasurer
		By/s/Richard Stiffel
	By	/s/ George Huerta
		Richard Stiffel CFO
		George Huerta President

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/ Rondell Fletcher		~~February~~July 2330, 2015
Rondell Fletcher, President		Date
Rondell Fletcher, Secretary, Treasurer		Date
/s/ Richard Stiffel
/s/ George Huerta
Richard Stiffel, CFO
George Huerta, President

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