BUSINESS ACQUISITION

12 Months Ended

Oct. 31, 2013

NOTE 3 - BUSINESS ACQUISITION

On November 16, 2012, the Corporation entered into a share exchange agreement whereby the Corporation would acquire all of the issued and outstanding shares of Dino Energy Investments, Ltd. ("Dino"). The agreement was completed on January 23, 2012 where the Corporation acquired all issued and outstanding shares of Dino in exchange for 65,000,000 common shares and 45,000,000 preferred shares of the Corporation (Note 1).

The acquisition constitutes a reverse merger and is accounted for in accordance with Accounting Standards Codification 805 - Business Combinations, as the former shareholders of Dino now control 94% of the outstanding and issued voting shares of the Corporation and therefore, Dino is deemed to be the acquirer for accounting purposes. Under these accounting principles, the post-merger financial statements represent the historical assets and liabilities of Dino and the legal equity structure of the Corporation.

The allocation of purchase consideration for net liabilities of $9,895 at January 23, 2013 is as follows:


Cash	$	16,221
Sales tax receivable		925
Property and equipment		1,820
Accounts payable		(8,446)
Due to shareholder		(20,415)
Net liabilities acquired	$	(9,895)

DINO ENERGY Corp 10-K/A