UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

_______________

FORM 10-Q

_______________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: ~~December~~June 3130, ~~2012~~2013

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

For the transition period from ______to______.

ELITE ENERGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware		333-168184		26-3936718
(State or other jurisdiction of incorporation or organization)		(Commission File No.)		(I.R.S. Employer Identification No.)

848 Stewart Drive, Suite 101

Sunnyvale, California 94085

(Address of principal executive offices)

(888) 209-9909

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

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 o 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 definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

Large Accelerated Filer	o	Accelerated Filer	o
Non-Accelerated Filer	o	Smaller Reporting Company	x
(Do not check if a 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 o No x

Indicate the number of shares outstanding of each of the registrant’s classes of common stock: As of ~~February~~August 14, 2013, there were 36,~~540~~790,955 shares of common stock ~~issued and~~ outstanding.

Elite Energies, Inc.

FORM 10-Q

~~December~~June 3130, ~~2012~~2013

INDEX

PART I-- FINANCIAL INFORMATION

Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1513
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	2016
Item 4.	Controls and Procedures	2017
PART II-- OTHER INFORMATION

PART II-- OTHER INFORMATION

Item 1.	Legal Proceedings	17
Item 1A.	Risk Factors	17
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	17
Item 3.	Defaults Upon Senior Securities	17
Item 4.	Mine Safety Disclosures	17
Item 5.	Other Information	17
Item 6.	Exhibits	18

Item 1.	Legal Proceedings	20
Item 1A.	Risk Factors	21
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	21
Item 3.	Defaults Upon Senior Securities	21
Item 4.	Mine Safety Disclosures	21
Item 5.	Other Information	21
Item 6.	Exhibits	21

PART I-- FINANCIAL INFORMATION

Item 1. Financial Information

ELITE ENERGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

ELITE ENERGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

	June 30, 2013			March 31, 2013
ASSETS
Current Assets
Cash	$	45,497		$	39,669
Prepaid expenses		44			44
Total Currents Assets		45,541			39,713
Current Assets of Discontinued Operations		11,189			11,481
Total Assets	$	56,730		$	51,194

LIABILITIES AND STOCKHOLDERS' (DEFICIT)

Current Liabilities
Trade payables -
Others	$	5,554		$	18,827
Related parties		17,875			3,230
Accrued expenses -
Interest		1,751			963
Others		-			105
Directors' loans		35,000			35,000
Loan from unrelated party		10,000			10,000
Total Current Liabilities		70,180			68,125
Current Liabilities of Discontinued Operations		36,148			36,148
Total Liabilities		106,328			104,273

Commitments

Stockholders' (Deficit)
Common stock, authorized 50,000,000 shares, par value $0.000001, 36,540,955 shares and 35,940,955 shares issued and outstanding on June 30, 2013 and March 31, 2013, respectively		36			36
Additional paid-in-capital		874,421			862,421
Accumulated (Deficit)		(881,534	)		(873,159	)
Total Elite's Stockholders' (Deficit)		(7,077	)		(10,702	)
Noncontrolling Interest		(42,521	)		(42,377	)
Total Stockholders' (Deficit)		(49,598	)		(53,079	)
Total Liabilities and Stockholders' (Deficit)	$	56,730		$	51,194

	December 31, 2012			March 31, 2012
ASSETS
Current Assets
Cash	$	13,986		$	31,615
Prepaid expenses		273			523
Total Currents Assets		14,259			32,138
Property and Equipment, net		-			1,558
Assets of Discontinued Operations		37,096			516,410
Total Assets	$	51,355		$	550,106
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Trade payables -
Others	$	28,688		$	7,502
Related parties		14,760			240
Accrued expenses -
Interest		175			963
Others		1,800			350
Directors' loans		35,000			35,000
Loan from unrelated party		10,000			10,000
Total Current Liabilities		90,423			54,055
Liabilities of Discontinued Operations		46,381			192,629
Total Liabilities		136,804			246,684
Commitments
Stockholders' Equity
Common stock, authorized 50,000,000 shares, par value $0.000001, 32,340,955 shares and 30,340,955 shares issued and outstanding on December 31, 2012 and March 31, 2012, respectively		32			30
Additional paid-in-capital		790,425			730,427
Accumulated deficit		(841,263	)		(556,674	)
Total Elite's Stockholders' Equity/(Deficit)		(50,806	)		173,783
Noncontrolling Interest		(34,643	)		129,639
Total Stockholders' Equity/(Deficit)		(85,449	)		303,422
Total Liabilities and Stockholders' Equity/(Deficit)	$	51,355		$	550,106

See accompanying notes.

ELITE ENERGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
	Three Months Ended December 31,						Nine Months Ended December 31,
	2012			2011			2012			2011
Revenues-
Trade, net of returns	$	-		$	-		$	-		$	-
Operating expenses
Payroll expenses		1,949			9,203			10,153			24,515
General and administrative		5,952			2,184			9,545			6,802
Rent and utilities		300			300			900			900
Legal and professional fees		23,404			18,257			91,075			84,044
Total operating expenses		31,605			29,944			111,673			116,261
Other (expenses)
Loss on disposal of assets		-			-			(1,275	)		-
Note interest		(758	)		(775	)		(2,333	)		(2,350	)
Total other (expenses)		(758	)		(775	)		(3,608	)		(2,350	)
Loss before income taxes		(32,363	)		(30,719	)		(115,281	)		(118,611	)
Provision for income taxes		-			-			-			-
Net loss from continuing operations		(32,363	)		(30,719	)		(115,281	)		(118,611	)
Discontinued operations, net of taxes
Loss from discontinued operations, net of taxes		(70,392	)		(26,547	)		(307,740	)		(82,443	)
Loss on disposal of discontinued assets, net of taxes		-			-			(25,850	)		-
Loss from discontinued operations		(70,392	)		(26,547	)		(333,590	)		(82,443	)
Net loss		(102,755	)		(57,266	)		(448,871	)		(201,054	)
Less: Net loss attributable to noncontrolling interest		(34,829	)		(12,356	)		(164,281	)		(38,455	)
Net loss attributable to Elite Energies, Inc.	$	(67,926	)	$	(44,910	)	$	(284,590	)	$	(162,599	)
Loss per Share - Basic and Diluted	$	(0.00	)	$	(0.00	)	$	(0.01	)	$	(0.01	)
Weighted average number of common shares outstanding
during the period - Basic and Diluted		32,245,303			30,340,955			31,292,228			29,919,137

ELITE ENERGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

	Three Months Ended June 30,
	2013			2012

Revenues-
Trade, net of returns	$	-		$	-

Operating expenses
Payroll expenses	$	568		$	6,653
General and administrative		390			1,427
Rent and utilities		300			300
Legal and professional fees		6,180			47,105
Total operating expenses		7,438			55,485

Other (expenses)
Note interest		(788	)		(788	)
Total other (expenses)		(788	)		(788	)

Loss before income taxes		(8,226	)		(56,273	)

Provision for income taxes		-			-

Net loss from continuing operations		(8,226	)		(56,273	)

Discontinued operations, net of taxes
Loss from discontinued operations, net of taxes		(293	)		(35,391	)
Loss from discontinued operations		(293	)		(35,391	)

Net loss		(8,519	)		(91,664	)
Less: Net loss attributable to noncontrolling interest		(144	)		(16,733	)
Net loss attributable to Elite Energies, Inc.	$	(8,375	)	$	(74,931	)

Loss per Share - Basic and Diluted	$	(0.00	)	$	(0.00	)
Weighted average number of common shares outstanding
during the period - Basic and Diluted		36,369,526			30,340,955

See accompanying notes.

ELITE ENERGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(UNAUDITED)
	Nine Months Ended December 31,
	2012			2011
Cash Flows from Operating Activities:
Net loss	$	(448,871	)	$	(201,054	)
Less: loss from discontinued operations, net of taxes		(333,590	)		(82,443	)
Net loss from continuing operations		(115,281	)		(118,611	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		283			425
Loss on disposal of assets		1,275			-
Change in operating assets and liabilities:
(Increase)/Decrease in prepaid expenses		250			(545	)
Increase/(Decrease) in trade payables		35,706			(8,311	)
Increase/(Decrease) in accrued expenses		662			(12,676	)
Net Cash (Used in) Operating Activities from Continuing Operations		(77,105	)		(139,718	)
Net Cash Provided by/(Used in) Operating Activities from Discontinued Operations		63,995			(50,169	)
Net Cash (Used in) Operating Activities		(13,110	)		(189,887	)
Net Cash (Used in) Investing Activities from Continuing Operations		-			-
Net Cash Provided by/(Used in) Investing Activities from Discontinued Operations		5,000			(11,944	)
Net Cash Provided by/(Used in) Investing Activities		5,000			(11,944	)
Cash Flows from Financing Activities:
Proceeds from issuance of common stock		60,000			240,000
Net Cash Provided by Financing Activities from Continuing Operations		60,000			240,000
Net Cash (Used in) Financing Activities from Discontinued Operations		(62,811	)		(4,579	)
Net Cash Provided by/(Used in) Financing Activities		(2,811	)		235,421
Net Increase/(Decrease) in Cash		(10,921	)		33,590
Cash from Continuing Operations at Beginning of Period		31,615			21,185
Cash from Discontinued Operations at Beginning of Period		3,178			21,466
Cash at End of Period		23,872			76,241
Less Cash from Discontinued Operations at End of Period		9,886			15,974
Cash from Continuing Operations at End of Period	$	13,986		$	60,267
Supplemental cash flow information
Interest paid	$	5,765		$	12,171
Income taxes paid	$	-		$	-

ELITE ENERGIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(UNAUDITED)

	Three Months Ended June 30,
	2013			2012
Cash Flows from Operating Activities:
Net loss	$	(8,519	)	$	(91,664	)
Less: loss from discontinued operations, net of taxes		(293	)		(35,391	)
Net loss from continuing operations		(8,226	)		(56,273	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			141

Change in operating assets and liabilities:
Decrease in prepaid expenses		-			250
Increase/(Decrease) in trade payables		1,372			(1,905	)
Increase in accrued expenses		683			38,933
Net Cash (Used in) Operating Activities from Continuing Operations		(6,171	)		(18,854	)
Net Cash Provided by/(Used in) Operating Activities from Discontinued Operations		(293	)		8,028
Net Cash (Used in) Operating Activities		(6,464	)		(10,826	)

Net Cash (Used in) Investing Activities from Continuing Operations		-			-
Net Cash (Used in) Investing Activities from Discontinued Operations		-			-
Net Cash (Used in) Investing Activities		-			-

Cash Flows from Financing Activities:
Proceeds from issuance of common stock		12,000			-
Net Cash Provided by Financing Activities from Continuing Operations		12,000			-
Net Cash (Used in) Financing Activities from Discontinued Operations		-			(11,670	)
Net Cash Provided by/(Used in) Financing Activities		12,000			(11,670	)

Net Increase/(Decrease) in Cash		5,536			(22,496	)

Cash from Continuing Operations at Beginning of Period		39,669			31,615
Cash from Discontinued Operations at Beginning of Period		11,481			3,178
Cash at End of Period		56,686			12,297
Less Cash from Discontinued Operations at End of Period		11,189			61
Cash from Continuing Operations at End of Period	$	45,497		$	12,236

Supplemental cash flow information
Interest paid	$	-		$	886
Income taxes paid	$	-		$	-

See accompanying notes.

ELITE ENERGIES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1. SUMMARY OF ORGANIZATION

Elite Energies, Inc. (“ELITE”, the “Company”) is a Delaware Corporation and was formed on March 28, 2008 under the name “Global ePlatform Technologies Inc.”. On December 17, 2008, Global ePlatform Technologies Inc. changed its name to Elite Energies, Inc. The Company, located in Sunnyvale, California, is a holding company which has subsidiaries that ~~invest~~invested in renewable energies technology.

The Company has a wholly-owned subsidiary, Elite Renewable Energies Technology, Inc. (“ERET”), which was incorporated on January 29, 2009 under the laws of the State of California. ERET holds and invests in and operates a subsidiary, Quality Green Building Supplies, Inc. (“QGBS”), a discontinued wholesale distribution company that is incorporated in California. QGBS was established in July 2009, and was is operating as building materials wholesaler in the San Francisco Bay Area. In July 2012, the Board of Directors of the Company decided to discontinue QGBS’s ~~operation~~operations since QGBS did not meet the Company’s projected target of profitability during the past two years.

On June 7, 2011, the Company established a wholly-owned subsidiary, Elite Energies International Limited (“EEIL”), which was incorporated in Hong Kong. EEIL is established for the Company’s future Asia operations once the Company obtains more funding. Currently, EEIL has limited cash and no operations.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Changes in Basis of Presentation

The ~~March 31, 2012 and the~~ three months ~~and nine months~~ ended ~~December~~June 3130, ~~2011~~2012 financial information has been revised so that the basis of presentation is consistent with ~~that of~~ the ~~December 31, 2012 and the~~ three months ~~and nine months~~ ended ~~December~~June 3130, ~~2012~~2013 financial information. This revision reflects the financial condition and results of operations of QGBS as discontinued operations for all periods presented. For a summary of discontinued operations see Note 3.

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared by in accordance with accounting principles generally accepted in the United States of America.

Principles of Consolidation

The condensed consolidated financial statements of the Company include wholly-owned and majority subsidiaries (ERET, EEIL, and QGBS) under its control. All of the material intercompany balances and transactions have been eliminated.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Unaudited Interim Financial Information

The accompanying interim condensed consolidated financial statements and related notes of the Company as of ~~December~~June 3130, ~~2012~~2013 and for the three months ~~and nine months~~ ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, are unaudited. The unaudited interim condensed consolidated financial information has been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and disclosures required by GAAP for ~~the~~ complete financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended March 31, ~~2012~~2013 contained in the Form 10-K filed by the Company with the SEC on ~~June~~August 2916, ~~2012~~2013. The condensed consolidated balance sheet as of March 31, ~~2012~~2013 was derived from the Company’s audited financial statements for the year ended March 31, ~~2012~~2013. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and in the opinion of management reflects all adjustments, consisting of normal recurring adjustments, necessary to present fairly the results of operations of the Company for the three months ~~and nine months~~ ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, the results of cash flows of the Company for the ~~nine~~three months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, and the financial position of the Company as of ~~December~~June 3130, ~~2012~~2013. Interim results are not necessarily indicative of the results to be expected for an entire year or any other future year or interim period.

Revenue and Cost Recognition

The Company recognizes revenue in accordance with FASB Accounting Standards Codification No. (“ASC”) 605, Revenue Recognition. The Company sells lighting products, fixtures and environmental friendly building materials. The Company recognizes revenue when persuasive evidence of a sales arrangement exists, delivery of merchandise occurs through the transfer of title and risks and rewards of ownership, the selling price is determinable, and collectability is reasonably assured. The majority of the sales contracts transfer title and risk of loss to customers upon receipt of goods. Revenues are primarily recognized upon shipment as the shipments of each product group are typically delivered to the customers within the same day. Any discrepancy between the shipment and the sales agreement is reconciled within the same day when the shipment is delivered. Sales taxes are deducted from gross sales.

Sales agreements typically do not contain product warranties except for return and replacement of defective products within a period generally ranging from 7 to 30 days from delivery. Customers have the right to return defective products, which are substantially covered under the manufacturer’s warranty. The customer receives a credit from the Company for defective products returned and the Company receives a corresponding credit provided by the manufacturer. The amounts of return of defective products are reduced from the gross sales. During the three months ended June 30, 2013, there were no sales transactions. During the three months ended June 30, 2012, the total amounts of return of defective products was insignificant.

~~Sales~~Under ~~agreements~~limited ~~typically~~circumstances, dothe ~~not~~Company ~~contain~~gives ~~product~~some ~~warranties~~customer ~~except~~sales ~~for~~discounts, ~~return~~rebate ~~and~~or ~~replacement~~other ofsales ~~defective~~incentives ~~products~~on ~~within~~their afirst-time ~~period~~purchase ~~generally~~in ~~ranging~~order ~~from 7~~ to 30expand ~~days~~the ~~from~~customer ~~delivery~~base. ~~Customers~~The ~~have~~amounts ~~the~~of ~~right~~sales todiscounts, ~~return~~rebate ~~defective~~or ~~products,~~other ~~which~~sales incentives are ~~substantially~~determined ~~covered~~at ~~under~~ the ~~manufacturer’s~~time ~~warranty.~~the ~~The~~sales ~~customer~~occur ~~receives~~and aare ~~credit~~stated ~~from~~in the ~~Company~~sales ~~for~~agreements. ~~defective~~These ~~products~~amounts ~~returned~~are ~~and~~reduced from the ~~Company~~gross ~~receives~~sales aand recorded ~~corresponding~~on ~~credit~~a ~~provided~~net ~~by the manufacturer~~basis. ~~The~~ ~~amounts~~During ofthe ~~return~~three ofmonths ~~defective~~ended ~~products~~June ~~are~~30, ~~reduced~~2013, ~~from~~there ~~the~~were ~~gross~~no sales transactions. During the three months ~~and nine months~~ ended ~~December~~June 3130, 2012 ~~and 2011~~, the total ~~amounts~~amount of ~~return~~ ofsales ~~defective~~discounts ~~products~~and sales incentive were insignificant.

Under limited circumstances, the Company gives some customer sales discounts, rebate or other sales incentives on their first-time purchase in order to expand the customer base. The amounts of sales discounts, rebate or other sales incentives are determined at the time the sales occur and are stated in the sales agreements. These amounts are reduced from the gross sales and recorded on a net basis. During the three months and nine months ended December 31, 2012 and 2011, the total amount of sales discounts and sales incentive were insignificant.

Net Sales include services revenue generated through a variety of installation. The total amount of service revenue during the three months and nine months ended December 31, 2012 and 2011were insignificant.

Cost of revenue includes actual cost of merchandise sold and services performed and the cost of transportation of merchandise from vendors to the Company’s location. Costs of revenue are recognized when they occur and matched against revenue.

The cost of handling and shipping merchandise from the Company’s location to the customer is classified as operating expenses. The cost of handling and shipping merchandise to customers during the three months and nine months ended December 31, 2012 and 2011were insignificant.

Advertising expenses

The Company records advertising costs as incurred. During the three months ~~and nine months~~ ended ~~December~~June 3130, 2012 and ~~2011~~2012, the total amounts of advertising expenses were insignificant.

Cash

The Company considers cash on hand and amounts on deposit with financial institutions to be cash.

Allowance for Doubtful Accounts

The Company records its accounts receivable net of an allowance for doubtful accounts. The Company evaluates the trends in customers’ payment patterns, including review of specific delinquent accounts, changes in business conditions and external communications available about customers to estimate the level of allowance that is needed to address potential losses that the Company may incur due to the customer’s inability to pay. Accounts are considered delinquent or past due, if they have not been paid within the terms provided on the invoice. Delinquent account balances are written off after management has determined that the likelihood of collection is not probable.

As of ~~December~~June 3130, ~~2012~~2013, ~~the~~all ~~Company~~accounts ~~recorded~~receivable ~~$10,000~~had ofbeen written off against the allowance for doubtful accounts. AtThe ~~March 31, 2012, the~~ Company ~~did~~recorded ~~not~~an ~~record any~~ allowance for doubtful accounts ~~since~~of ~~most~~$27,632 as of ~~the~~March ~~receivables~~31, at2013 ~~year-end~~due ~~were~~to ~~collected~~economic inconditions of certain customers’ businesses and the ~~subsequent~~discontinued ~~period.~~operations of QGBS.

Inventory

Inventories consist of finished goods and are valued at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) method. Provision for potentially obsolete or slow moving inventory is made based on management’s analysis of inventory levels and future sales forecasts. The Company ~~recorded~~did ~~$33,743~~not ~~and~~hold ~~$199,021~~any ~~provision for obsolete~~ inventory ~~for~~as ~~the three months and nine months ended December 31, 2012. The Company recorded an allowance~~ of ~~$70,437~~June ~~for obsolete inventory and wrote off defective inventory totaling $36~~30,~~747~~ as2013 ofor March 31, ~~2012~~2013.

Property and Equipment

Property and equipment are stated at cost and are depreciated over their estimated useful lives. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful lives of the assets:

Office Equipment	Five Years, 150% Double Declining
Furniture and Fixtures	Ten Years, 150% Double Declining
Forklift Equipment	Five Years, 200% Double Declining
Delivery Vehicle	Five Years, 200% Double Declining
Leasehold Improvements	Three to Five Years, Straight-line

Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of a respective asset are capitalized, while expenditures that do not, such as repairs and maintenance, are expensed as incurred. The salvage value of property and equipment other than leasehold improvements is estimated to be equal to 10% of the original cost. Upon disposal, the assets and related accumulated depreciation are removed from the Company’s accounts, and the resulting gains or losses are reflected in the statements of operations.

Property and equipment to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for long-lived assets that management expects to hold and use is based on the excess of the carrying value of the asset over its fair value. No impairments of such assets were identified during any of the periods presented.

Fair Value of Financial Instruments

The carrying amounts of financial instruments including cash, accounts receivable, prepaid expenses, and accounts payable approximate fair value as of ~~December~~June 3130, ~~2012~~2013 and March 31, ~~2012~~2013, because of the relatively short maturity of these instruments.

Income Taxes

The Company accounts for income taxes under ASC 740, Income Taxes. Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company files separate income tax returns in the United States – Federal and California, and the returns are subject to examination by federal and state taxing authorities, generally for three years and four years, respectively, after they are filed.

ASC 740 also provides guidance on financial statement classification, accounting for interest and penalties, accounting for interim periods and new disclosure requirements. The Company’s policy is to recognize both interest and penalties related to unrecognized tax benefits in income tax expense. Interest and penalties on unrecognized tax benefits expected to result in payment of cash within one year are classified as accrued liabilities, while those expected beyond one year are classified as other liabilities. The Company has not recorded any interest and penalties since its inception.

Recent Accounting Pronouncements

Occasionally, new accounting standards are issued or proposed by the FASB, or other standard-setting bodies that we adopt by the effective date specified within the standard. Unless otherwise discussed, standards that do not require adoption until a future date are not expected to have a material impact on our financial statements upon adoption.

NOTE 3. DISCONTINUED THE OPERATIONS OF QUALITY GREEN BUILDING SUPPLIES

In early July 2012, the Board of the Company decided to discontinue QGBS’s operation since QGBS did not meet the Company’s projected targeted profitability during the past two years. All assets in QGBS are stated at net realizable value as of ~~December~~June 3130, ~~2012. QGBS sold certain equipment to a related company that was owned by Stockholder C of QGBS for $5~~2013,~~000~~ and ~~recorded~~March ~~a loss of $945 on this asset disposal in August 2012. Also~~31, ~~QGBS disposed other property and equipments and recorded a loss of $24~~2013,~~905~~ ~~in September 2012~~respectively.

The following table summarizes the current assets and current liabilities of the discontinued operations, excluding intercompany balances eliminated in consolidation, at ~~December~~June 3130, ~~2012~~2013 and March 31, ~~2012~~2013, respectively:

	December 31, 2012		March 31, 2012
	June 30, 2013		March 31, 2013
Assets of Discontinued Operations
Current Assets of Discontinued Operations
Cash	$	911,~~886~~189	$	311,~~178~~481
Trade receivables -
Total Current Assets of Discontinued Operations	$	11,189	$	11,481
Others, net		9,328		57,843
Current Liabilities of Discontinued Operations
Related parties		11,882		6,441
Inventory		6,000		360,660
Prepaid expenses		-		285
Deposit		-		51,809
Property, plant and equipment		-		36,194
Total Assets of Discontinued Operations	$	37,096	$	516,410
Liabilities of Discontinued Operations
Trade payables -
Others	$	~~3,307~~758	$	~~71,254~~758
Related parties		1913,~~915~~015		3113,~~490~~015
Accrued expenses -
Interest		32,~~000~~050		2,~~233~~050
Other		~~159~~325		~~4,261~~325
Obligations under capital leases		-		3,391
Stockholder loans to subsidiary		20,000		20,000
Stockholder loans to subsidiary		20,000		80,000
Total Current Liabilities of Discontinued Operations	$	36,148	$	36,148
Total Liabilities of Discontinued Operations	$	46,381	$	192,629

~~Financial data for the discontinued operations of QGBS for the three and nine months ended December 31, 2012 and 2011 are as follows:~~9

	Three Months Ended December 31,						Nine Months Ended December 31,
	2012			2011			2012			2011
Revenue	$	14,105		$	253,203		$	405,380		$	783,804
Cost of revenue		(43,321	)		(203,185	)		(545,992	)		(629,150	)
Gross profit/(loss)		(29,216	)		50,018			(140,612	)		154,654
(Loss) from operations of discontinued operations		(70,392	)		(26,547	)		(307,740	)		(82,443	)
(Loss) on disposal of discontinued assets		-			-			(25,850	)		-
Net (loss) from discontinued operations		(70,392	)		(26,547	)		(333,590	)		(82,443	)
Net (loss) attributable to noncontrolling interest		(34,829	)		(12,356	)		(164,281	)		(38,455	)
Net (loss) attributable to the Company	$	(35,563	)	$	(14,191	)	$	(169,309	)	$	(43,988	)
Per share information attributable to the Company
Basic and diluted net (loss) per common shares	$	(0.00	)	$	(0.00	)	$	(0.01	)	$	(0.00	)
Average common shares outstanding - basic and diluted		32,245,303			30,340,955			31,292,228			29,919,137

Financial data for the discontinued operations of QGBS for the three months ended June 30, 2013 and 2012 are as follows:

	Three Months Ended June 30,
	2013			2012

Revenue	$	-		$	230,637
Cost of revenue		-			(189,522	)
Gross profit/(loss)		-			41,115
(Loss) from operations of discontinued operations		(293	)		(35,391	)
(Loss) on disposal of discontinued assets		-			-
Net (loss) from discontinued operations		(293	)		(35,391	)
Net (loss) attributable to noncontrolling interest		(144	)		(16,733	)
Net (loss) attributable to the Company	$	(149	)	$	(18,658	)

Per share information attributable to the Company
Basic and diluted net (loss) per common shares	$	(0.00	)	$	(0.00	)
Average common shares outstanding - basic and diluted		36,369,526			30,340,955

NOTE 4. PROPERTY AND EQUIPMENT

At ~~December~~June 3130, ~~2012~~2013 and March 31, ~~2012~~2013, ~~property~~there ~~and~~is ~~equipment~~no isproperty asand ~~follows:~~equipment.

	December 31, 2012		March 31, 2012
Leasehold Improvements	$	-	$	2,832
Less: accumulated depreciation		-		(1,274	)
Property and equipment, net	$	-	$	1,558

Depreciation expense for the three months ended June 30, 2013 and 2012 was $-0- and $141, respectively.

Depreciation expense for the three months ended December 31, 2012 and 2011 was $-0- and $142, respectively. Depreciation expense for the nine months ended December 31, 2012 and 2011 was $283 and $425, respectively.

In September 2012, ERET disposed the leasehold improvement as the lease was not renewed and recorded a loss of $1,275.

NOTE 5. LOANS

AsIn ofearly ~~March~~December 312011, ~~2012,~~ seven Directors of the Company loaned ELITE the amount of $5,000 each, totaling $35,000. Each of the loans from these seven Directors was at a simple annual interest rate of 7% and due in December 2012, one year from the date of the loan~~, which was due in December 2012~~. The Company paid $350 interest to each of these seven Directors in December 2012. Further, each of the above loans from the seven Directors was renewed inthrough December ~~2012~~2013 ~~for one additional year from the maturity date~~ with the same terms.

AsIn ofDecember ~~March 31~~27, ~~2012~~2011, an unrelated individual loaned ELITE the amount of $10,000 with a simple annual interest rate of 7%. The principal and interest was due on December 27, 2012. The Company paid $700 interest to this individual in December 2012. Further, the individual agreed to extend the due date of the principal to December 27, 2013 with the same ~~term~~terms.

The Company recorded $~~758~~788 and $~~775~~788 of interest expenses on the above loans to ELITE during the three months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011, respectively. The Company recorded $2,333 and $2,350 of interest expenses on the above loans to ELITE during the nine months ended December 31,~~ 2012 ~~and 2011~~, respectively.

OnAs ~~December~~of 31June 30, ~~2012~~2013 and March 31, ~~2012~~2013, ~~accrued~~Stockholder ~~interests~~B of QGBS has a loan balance from QGBS in the amount of $20,000 to support its operations and expansion. The terms of the loan are asat ~~follows:~~an annual interest rate of 8% and due on demand. There were no principal and/or interest payments during the three months ended June 30, 2013.

	December 31, 2012		March 31, 2012
Accrued interests
Directors’ loans	$	175	$	788
Loan from unrelated party		0		175
Total	$	175	$	963

On June 30, 2013 and March 31, 2013, accrued interest consisted of the following:

As of March 31, 2012, three of the stockholders of QGBS: Stockholder A, Stockholder B and Stockholder C, loaned QGBS $30,000, $35,000 and $15,000, respectively, to support its operations and expansion. The terms of all these loans totaling $80,000 are at an annual interest rate of 8% and due on demand. In April, October and December 2012, QGBS paid off totaling $30,000 principal balance and $1,700 interest to Stockholder A. In April 2012, QGBS paid $800 interest payment to Stockholder B. In September 2012, QGBS paid $15,000 of the $35,000 principal balance to Stockholder B and paid off principal balance to Stockholder C.

	June 30, 2013		March 31, 2013
Accrued interest
Directors’ loans	$	1,401	$	788
Loan from unrelated party		350		175
Total	$	1,751	$	963

1110

NOTE 6. COMMITMENTS

Operating Leases

Rent expense for ELITE and ERET was $300 ~~and~~each ~~$300~~ during the three months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011, respectively. Rent expense for ELITE and ERET was $900 and $900 during the nine months ended December 31,~~ 2012 ~~and 2011, respectively~~.

Capital Leases

QGBS leased a forklift under capital leases. QGBS sold this forklift to a related company on August 2012. The following is an analysis of the leased property under capital leases at December 31, 2012 and March 31, 2012.

	December 31, 2012		March 31, 2012
Forklift	$	-	$	17,800
Less accumulated depreciation		-		(12,887	)
Forklift, net	$	-	$	4,913

NOTE 7. EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per common share excludes dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company has only incurred losses, basic and diluted loss per share is the same. Furthermore, for the three ~~and nine~~ months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, there were no diluted shares outstanding.

	Three Months Ended December 31,
	Three Months Ended June 30,
		2012			2011
		2013			2012
Numerator:
Net loss	$	(~~102~~8,~~755~~519	)	$	(5791,~~266~~664	)
Less: Net loss allocated to noncontrolling interest		(~~34,829~~144	)		(1216,~~356~~733	)
Net loss attributable to the Company common stockholders—basic	$	(678,~~926~~375	)	$	(4474,~~910~~931	)
Denominator:
Weighted average common shares		3236,~~245~~369,~~303~~526			30,340,955
Net loss attributable to the Company common stockholders per share—basic	$	(0.00	)	$	(0.00	)

	Nine Months Ended December 31,
		2012			2011
Numerator:
Net loss	$	(448,871	)	$	(201,054	)
Less: Net loss allocated to noncontrolling interest		(164,281	)		(38,455	)
Net loss attributable to the Company common stockholders—basic	$	(284,590	)	$	(162,599	)
Denominator:
Weighted average common shares		31,292,228			29,919,137
Net loss attributable to the Company common stockholders per share—basic	$	(0.01	)	$	(0.01	)

NOTE 8. STOCKHOLDERS’ EQUITY

In ~~July,~~April ~~August and November 2012~~2013, ~~eight~~one of ~~the~~ Company’s Directors paid the total of $6012,000 cash to purchase 2600,000~~,000~~ shares of Elite at $0.0302 per share.

On January 15, 2013, our Board of Directors unanimously recommended and declared that the stockholders adopt a reverse stock split of 1 for 10 of our common stock, and directed its submission to the vote of our stockholders. As of January 31, 2013, the holders of a majority of the voting rights represented by our outstanding shares of stock entitled to vote thereon executed a written consent in accordance with Section 228 of the General Corporation Law of the State of Delaware (the “DGCL”) approving and adopting the reverse stock split. On February 12, 2013, we filed a Definitive Schedule 14C Information Statement with the Securities and Exchange Commission regarding the reverse split. We expect the reverse split to be effective in September 2013.

NOTE 9. RELATED PARTY TRANSACTIONS

The Company’s revenue was generated through QGBS, which was discontinued in July 2012. As such, all the sales disclosed in this note were from discontinued operations.

~~The~~After the Company’s ~~had~~Annual ~~sales~~Shareholders’ ofMeeting ~~$118,279 to an entity~~ that iswas ~~wholly-owned~~held byon ~~a shareholder of the Company during the nine months ended~~ December 3120, 2012, ~~and~~five ~~had sales~~ of ~~$28,510~~our toformer ~~this~~Directors either ~~entity~~resigned ~~during~~or ~~the~~were ~~nine~~not ~~months ended December 31~~re-elected, ~~2011. The~~the Company ~~had~~has ~~purchases~~reduced ofthe ~~$1,210~~number ~~from~~of ~~this entity during~~ the ~~nine~~Board ~~months~~members ~~ended~~from ~~December~~10 ~~31, 2012. The Company sold property and equipment~~ to ~~this entity for $~~5~~,000~~ ~~on August 2012~~members. ~~The~~As ~~Company had a receivable of $7~~such,~~157~~ ~~from~~ the ~~same~~transactions ~~entity~~disclosed onin ~~December~~this ~~31,~~note ~~2012. The Company~~ also ~~had~~include atransactions ~~receivable~~with offormer ~~$1,360 and a payable of $23,823 to the same entity on March 31, 2012~~Directors.

The Company also had sales of $4,540 to an entity which is 95% owned by a Director of the Company during the nine months ended December 31, 2012 and had sales of $13,105 to the same entity during the nine months ended December 31, 2011. The Company had a receivable of $3,850 and $3,628 from the same entity on December 31, 2012 and March 31, 2012, respectively.11

The Company had ~~purchases~~sales of $501,~~517~~885 ~~from and sales of $875~~ to an entity ~~that~~which is ~~wholly-~~95% owned by ~~the wife of~~ a former Director of the Company during the ~~nine~~three months ended ~~December~~June 3130, 2012. The Company also had purchases of $33,364 from and sales of $5,054 to the same entity during the nine months ended December 31, 2011. The Company had a receivable of $875 from the same entity on December 31, 2012 and had a payable of $6,989 to the same entity on March 31, 2012.

The Company had ~~payables~~purchases of $1928,~~660~~596 tofrom an entity that is wholly-owned by ~~an officer of~~ the ~~Company~~wife ~~on December 31, 2012 for accounting services rendered and recorded $25,170~~ of ~~professional~~a ~~service~~former ~~expenses~~Director ~~during the nine months ended December 31, 2012. The Company recorded $20,035~~ of ~~accounting services expenses during~~ the ~~nine months ended December 31, 2011. The~~ Company ~~also had payables of $500 to this same entity on March 31, 2012. Further, the Company recorded $988 and $1,482 of professional service expenses related to compliance fillings~~ during the ~~nine~~three months ended ~~December~~June 3130, 2012 ~~and 2011, respectively~~. ~~The Company also had payable of $418 to this same entity on March 31, 2012.~~

The Company had ~~sales~~payables of $68,~~443~~860 ~~and $13,152~~ to an entity wholly-owned by aan ~~Director~~officer ~~during~~of the ~~nine~~Company ~~months~~on ~~ended~~June ~~December 31~~30, ~~2012~~2013 ~~and~~for ~~2011,~~accounting ~~respectively.~~services ~~This~~rendered ~~entity~~and ~~performed~~recorded ~~warehouse repairs~~$3,690 ~~inventory~~of ~~movements~~professional ~~and~~service ~~provided~~expenses ~~temporary~~during ~~warehouse~~the ~~location~~three ~~for~~months ~~the~~ended ~~Company~~June 30, ~~totaling~~2013. ofThe Company recorded $187,~~052,~~390 of accounting services expenses during the ~~nine~~three months ended ~~December~~June 3130, 2012. The Company also had ~~payable~~payables of $157,~~015~~230 to this same entity ason ofMarch ~~December~~ 31, ~~2012~~2013. ~~The~~ ~~Company~~Further, ~~also~~the ~~had~~Company arecorded ~~receivable~~$518 of ~~$1,454~~professional ~~from~~service ~~this~~expenses ~~entity~~related asto ofcompliance ~~March~~fillings 31during the three months ended June 30, 2012.

The Company had ~~purchases~~sales of $~~549~~5,735 ~~from~~to an entity ~~majority~~wholly-owned by a former Director ofduring the ~~Company~~three ~~during~~months ended June 30, 2012. This entity also performed warehouse repairs, inventory movements and provided a temporary warehouse location for the ~~nine~~Company. The ~~months~~Company ~~ended~~had ~~December~~payables of $9,015 to this entity as of June 30, 2013 and March 31, ~~2011~~2013.

As discussed in Note 5, prior to March 31, ~~2012~~2013, QGBS entered into promissory notes agreements with ~~three of~~ its ~~stockholders~~stockholder totaling $8020,000. ~~Principal~~There were no principal and/or interest payments ~~were~~during ~~paid~~the tothree ~~these~~months ~~stockholders~~ended ~~totaling~~June ~~$62~~30,~~500~~ 2013. Principal and/or interest payments of $810,~~333~~800 were paid on out to these notes during the ~~nine~~three months ended ~~December~~June 3130, 2012 ~~and 2011, respectively~~.

As discussed in Note 5, prior to March 31, 2012, the Company entered into promissory note agreements with seven of its Directors in the amount of $5,000 each, totaling $35,000. In December 2012, the due dates of these note agreements were extended to December 2013.

NOTE 10. GOING CONCERN

As reflected in the accompanying condensed consolidated financial statements, the Company had a net loss of $~~448~~8,~~871,~~519 ~~used~~ and $136,~~110~~464 of cash in operating activities during the ~~nine~~three months ended ~~December~~June 3130, ~~2012~~2013, and has an accumulated deficit of $~~841~~881,~~263~~534 at ~~December~~June 3130, ~~2012~~2013. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management believes that actions presently being taken to raise additional capital and implement its business plan will provide the opportunity for the Company to continue as a going concern.

NOTE 11. SUBSEQUENT EVENTS

In ~~January~~July 2013, ~~seven~~an ofoutside ~~the~~investor ~~Company’s Directors~~ paid the total of $8415,000 cash to purchase 4250,~~200,~~000 shares ofto Elite at $0.0206 per share.

~~In February 2013, the $45,000 note agreements were extended to due on December 2014.~~12

On January 15, 2013, our board of directors unanimously declared the advisability of, and recommended that the stockholders adopt a reverse stock split of 1:10 of our common stock, and directed its submission to the vote of our stockholders. As of January 31, 2013, the holders of a majority of the voting rights represented by our outstanding shares of stock entitled to vote thereon executed a written consent in accordance with Section 228 of the General Corporation Law of the State of Delaware (the “DGCL”) approving and adopting the reverse stock split. On February 12, 2013, we filed a Definitive Schedule 14C Information Statement with the Securities and Exchange Commission regarding the reverse split. We expect the reverse split to be effective in early March 2013.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion contains forward-looking statements relating to future events or our future performance. Actual results may materially differ from those projected in the forward-looking statements as a result of certain risks and uncertainties set forth in this prospectus. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual results will not be different from expectations expressed in this report.

~~Business~~Elite ~~Overview~~Energies, Inc. is a Delaware holding company (“we”, “us”, or the “Company”). Through our wholly owned California subsidiary, Elite Renewable Energies Technology, Inc. (“ERET”), we have invested into energy saving products such as LED (light emitting diode) lighting and environmentally friendly building materials for the last few years.

~~Elite~~The Energies, Inc. is a Delaware holding company (“we”, “us”, or the “Company”), that, through our wholly owned California subsidiary corporation, Elite Renewable Energies Technology, Inc. (“ERET”), has invested into energy-saving products such as LED (light emitting diode) lightings and also environmentally friendly building materials. However, the market and demand for LED products in general are volatile and the profit margin in selling LED ~~lightings~~lighting is declining;. ~~moreover~~Therefore, ~~the~~we ~~demand~~have ~~for~~made ~~LED~~a ~~lightings~~decision isto ~~shifting~~shift our focus from LED to other ~~kind~~energy ofrelated ~~lightings~~businesses, such as ~~incident~~industry ~~lighting. We~~gas ~~have~~and ~~discontinued~~recently, the ~~operation~~electric ofvehicle ~~Quality Green Building Supplies Inc.~~ (~~“QGBS”~~EV), ~~one of our subsidiaries in building materials operation because QGBS failed to meet the Company’s projected target of profitability for the past two consecutive years~~business.

~~ERET,~~We ~~through~~made ~~its~~the ~~Hong~~business ~~Kong~~decision ~~subsidiaries,~~in ~~Elite~~July ~~Energies~~2012 ~~International~~to ~~Limited~~discontinue ~~(“EEIL”), is~~the ~~working~~operation onof aQuality ~~Memorandum~~Green ofBuilding ~~Intent~~Supplies Inc. (“~~MOI~~QGBS”), tosupplier ~~secure~~of aenvironmentally ~~license~~friendly ofbuilding ~~re-selling~~materials, ~~industrial~~because ~~gas~~QGBS infailed ~~the~~to ~~Hunan~~perform ~~Province~~for oftwo ~~People’s~~consecutive ~~Republic~~years. At ofthis ~~China~~time, ~~(“PRC”)~~QGBS is no longer in operation.

~~The~~Our ~~Company’s~~Hong ~~management~~Kong issubsidiary, ~~familiar~~Elite ~~with~~Energies ~~industrial~~International ~~gas~~Limited ~~business~~(“EEIL”), ~~model~~is ~~since~~actively ~~our~~looking ~~Chairwoman~~for ~~Ms.~~new ~~Liu~~opportunities ~~has~~for ~~been in~~ the ~~industrial~~Company ~~gas~~to ~~business~~prosper. ~~industry~~We ~~for~~are ~~over~~planning 20to ~~years.~~form ~~Ms.~~a ~~Liu~~joint ~~will~~venture ~~assist~~with ~~the~~an ~~Company~~existing inindustrial ~~exploring~~gas ~~how~~re-seller ~~Elite~~who ~~Energies,~~has ~~Inc~~all ~~can benefit from~~ the ~~potential~~necessary ~~opportunities~~licenses ~~presented~~to insell ~~the~~ industrial gas ~~business industry~~ in ~~the~~Hunan ~~long run~~Province.

15As stated previously, Mrs. Ai Huan Liu, our Chairwoman of the Board of Directors has been involved with the industrial gas business for more than 20 years. Once we have formed a joint venture with an existing industrial gas re-seller, we will be able to start selling industrial gas. We believe we can prosper do well in the industrial gas business with Mrs. Liu’s leadership.

On July 8, 2013, the Board welcomed Mr. Charles Lu, one of our shareholders to become Director of the newly formed Business ~~Plan~~Development Division. Mr. Lu’s first project will be to assist Mr. Spencer Luo, our CEO in developing our EV business. Currently we are in touch with IDRF Electric Car Technology Co. Ltd. (www.idrf.cn) (“IDRF”); an electric car design company with many years of car designing experience, IDRF is located at Zhuhai, Guangdong Province, PRC.

WeIn mid July 2013, Mr. Spencer Luo traveled to Zhuhai for an initial meeting with the directors of IDRF. The outcome of this meeting was positive and both Mr. Luo and Mr. Lu are ~~currently~~further ~~doing~~studying orthe ~~over~~profitability of the ~~next~~EV ~~fiscal~~business ~~year~~and wethe ~~intend~~potential of working with IDRF in forming a joint venture. Mr. Charles Lu will also continue to dolook for other business opportunities that could enhance the ~~following:~~value of the Company.

1.Plan ~~To negotiate with XuHui QiTi (Gas) to secure the license to re-sell their industrial gas products. We work on to sign a licensing agreement with ChenZhou XuHui QiTi, a unit~~ of ~~XuHuiQiTi (Gas), an industry gas manufacturing company located in Chen Zhou, Hunan (“XuHui”), for selling and operating gas trading in Hunan Province.~~Operation

2.Over ~~Within~~ the next 90fiscal ~~days,~~year ~~EEIL~~we isintend ~~pursuing~~ to ~~have~~do ~~our industrial gas business operation to be awarded with~~ the Closer Economic Partnership Agreement (“CEPA”) status in Hong Kong. CEPA is an agreement signed between People Republic of China and Hong Kong SAR government to allow companies registered in Hong Kong with qualifying products and services to enjoy preferential access, tax benefits to mainland China market. By obtaining the CEPA status, EEIL shall deem to have gained a valuable tool on hand to increase our business efficiency and profit potential in PRC.following:

3. For ~~our~~the ~~long~~next ~~term~~90 ~~strategy~~days, ~~Elite~~our ~~Energies~~priority is ~~continuing~~to raise funds and maintain sufficient resources to ~~seek~~operate. ~~opportunities~~It is important to ~~venture~~pursue the industrial gas re-seller license in Hunan Province as this approach will enable the Company to penetrate the gas reselling industry in a shorter period of time. We are in negotiation with ~~other~~a ~~technology~~few ~~companies~~re-sellers in the USgas ~~and~~production orindustry ~~abroad~~regarding tothe ~~successfully~~possibility ~~lunch~~of forming a ~~product~~joint venture in Chenzhou, Hunan Province. We expect to consummate an agreement with the proper re-sellers within the next 6 months. In order to pursue this project, we estimate that we will beneed to raise funds amounting to $300,000 within the ~~cornerstone~~next 3 months. The regulation on gas production industry is strictly controlled by the PRC Ministry of Machinery and Department of Science and Technology and Standards (MMDSTS). The re-sellers that we are attempting to negotiate with for this joint venture will have the necessary license and shall comply with the PRC MMDSTS regulations on the gas production industry. Our Chairwoman Mrs. Liu has many years experience in the gas production industry. As such, we believe we will be able to raise the proceeds necessary to continue our ~~future~~operations over the next 12 months. There is no guarantee, however, that we will be successful in raising the full amount needed.

At the same time, Mr. Spencer Luo and Mr. Charles Lu are planning a second visit to IDRF by the end of August. During their visit, they will try to establish a plan for both the Company and IDRF to form a joint venture. We believe there is a great potential for growth in the electric car business in China and Worldwide. However, the Company is yet to generate any revenues, and has no assurance of future revenues from these activities. Even if marketing efforts are successful, substantial time will pass before significant revenues will be realized and, during this period, the company may require additional funds that may not be available to it.

We believe electric cars (EV) have a huge potential in China because of its air pollution problems caused by conventional vehicles. However, the technology still needs to improve but getting involved at this stage with electric car development and manufacturing is in-line with Elite’s goal of investment into energy saving products. The Board is pleased with the findings and approved the Business Development division to continue to explore and develop a complete time line to materialize and capture the opportunities so presented.

For the next 180 days, our HK subsidiary EEIL is still trying to apply to receive the Closer Economic Partnership Agreement (“CEPA”) status in Hong Kong. CEPA is an agreement signed between People Republic of China and Hong Kong SAR government to allow companies registered in Hong Kong with qualifying products and services to enjoy preferential access and tax benefits to the mainland China market. By obtaining the CEPA status, EEIL will have gained a valuable tool to increase our business efficiency and profit potential in the PRC.

For our long term strategy, Elite Energies is continuing to seek opportunities in the industrial gas and electric car business. We believe these two latest projects shall be the turning point of our Company’s future growth path.

RESULTS OF OPERATIONS

Three Months Ended ~~December~~June 3130, ~~2012~~2013 Compared to Three Months Ended ~~December~~June 3130, ~~2011~~2012

We believe the percentage relationship between total net loss and major categories in the Condensed Consolidated Statements of Operations presented below are important in evaluating the performance of our business operations.

	% of Net Loss
	Three Months Ended December 31,
	Three Months Ended June 30,
	2012			2011
	2013			2012
Revenues-
Trade, net of returns		-	%		-	%
Operating expenses
Payroll expenses		(16.97	)		(167.13	)
General and administrative		(54.86	)		(31.86	)
Rent and utilities		(0.3.5	)		(0.53	)
Legal and professional fees		(2272.85	)		(3151.94	)
Total operating expenses		(3087.83	)		(5260.35	)
Other (expenses)
Loss on disposal of assets		-			-
Note interest		(9.2	)		(0.9	)
Note interest		(0.7	)		(1.4	)
Total other (expenses)		(9.2	)		(0.9	)
Total other (expenses)		(0.7	)		(1.4	)
Loss before income taxes		(96.6	)		(61.4	)
Loss before income taxes		(31.5	)		(53.6	)
Provision for income taxes		-			-
Net loss from Continuing Operations		(3196.56	)		(5361.64	)
Discontinued Operations, Net of Taxes
Loss from discontinued operations, net of taxes		(683.54	)		(4638.46	)
Loss on disposal of discontinued assets, net of taxes		-			-
Loss from Discontinued Operations		(3.4	)		(38.6	)
Loss from Discontinued Operations		(68.5	)		(46.4	)
Net loss		(100.0	)		(100.0	)
Less: Net loss attributable to noncontrolling interest		(331.97	)		(2118.63	)
Net loss attributable to Elite Energies, Inc.		(6698.13	)%		(7881.47	)%

Note: Certain percentages may not sum to totals due to rounding.

1614

For an understanding of the significant factors that influenced our performance during the three months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, the following discussion should be read in conjunction with the Condensed Consolidated Financial Statements and the Notes to Condensed Consolidated Financial Statements presented in this report.

Payroll expenses: The payroll expenses were $~~1,949~~568 for the three months ended ~~December~~June 3130, ~~2012~~2013 and $96,~~203~~653 for the same period ended ~~December~~June 3130, ~~2011~~2012, representing a decrease of $76,~~254~~085 or 7891.85%. The decrease was primarily due to ~~less~~layoffs ~~hiring~~ during the ~~three~~last ~~months~~fiscal ~~ended December 31, 2012~~year. ~~During~~We ~~the three months ended December 31, 2012, excluding our partially owned subsidiary QGBS, we~~ had 1 part-time employee due to closure of QGBS.

General and administrative expenses: General and administrative expenses include depreciation, licenses, advertising, travel and state franchise taxes. Our general and administrative expenses were $~~5,952~~390 for the three months ended ~~December~~June 3130, ~~2012~~2013, compared to $21,~~184~~427 in the same period ended ~~December~~June 3130, ~~2011~~2012, representing ana ~~increase~~decrease of $31,~~768~~037 or ~~172~~72.57%, which was primarily due to ~~certain~~depreciation ~~general~~and licenses expenses we incurred during the three months ended ~~December~~June 3130, 2012 which we did not incur during the same period ended ~~December~~June 3130, ~~2011~~2013.

Rent and utilities: The rent and utilities were $300 for the three months ended ~~December~~June 3130, ~~2012~~2013, compared to $300 in the same period ended ~~December~~June 3130, ~~2011~~2012. Currently we rent a corporate business office in Sunnyvale, California.

Legal and professional fees: The legal and professional fees were $236,~~404~~180 for the three months ended ~~December~~June 3130, ~~2012~~2013 and $1847,~~257~~105 for the three months ended ~~December~~June 3130, ~~2011~~2012, representing ana ~~increase~~decrease of $540,~~147~~925 or 2886.29%. The ~~increase~~decrease was primarily ~~attributable~~due to athe ~~slight~~Company ~~increase~~not inincurring ~~charge~~audit ~~rates~~and byprofessional expenses due to the ~~outside~~late ~~professionals~~filling ~~for~~of its annual report on Form 10-K, during the three months ended ~~December~~June 3130, ~~2012~~2013 aswhile ~~compared~~we toincurred such expenses during the same period ended ~~December~~June 3130, ~~2011~~2012.

Discontinued Operations: Our revenue was ~~mainly~~previously generated from the sales of fixtures and environmentally friendly building materials, primarily hardwood floors, to the customers through our 50.52% owned subsidiary QGBS, which was discontinued in July 2012. For the three months ended ~~December~~June 3130, ~~2012~~2013, weno ~~generated $14,105 in~~ revenue, ~~representing~~and ano ~~decrease~~cost of ~~$239,098, or 94.4%, compared to the~~ revenue ofwere ~~$253,203~~generated ~~during~~due ~~the same period ended on December 31, 2011. The decrease of our revenue was attributable~~ to the ~~lower demand of our products as well as the~~ discontinuance of the QGBS’s revenue operations. ~~during~~For the three months ended ~~December~~June 3130, 2012, we generated $230,637 in revenue. Our cost of revenue includes expenses mainly related to the products sold. Our cost of revenue was $43189,~~321~~522 for the three months ended ~~December~~June 3130, 2012~~, compared to $203,185 for the three months ended December 31, 2011, representing a decrease of $159,864 or 78~~.~~7%.~~ The ~~decrease of cost of revenue is primarily due to the provision of inventory obsolescence of $33,743 recorded ended December 31, 2012 as compared to the same period ended December 31, 2011. The~~ total operating expenses ~~was~~were $~~41,176~~293 for the three months ended ~~December~~June 3130, ~~2012~~2013, compared to $76,~~565~~506 for the three months ended ~~December~~June 3130, ~~2011~~2012, representing a decrease of $3576,~~389~~213 or 4699.26%. The decrease of total operating expenses was primarily due to the ~~less~~minimal ~~hiring~~transactions ~~full-time employees~~ during the three months ended ~~December~~June 3130, ~~2012~~2013 aswhile ~~compared to the same period ended December 31, 2011.~~ QGBS ~~had~~was 3in ~~part-time~~full ~~employees~~operation during the three months ended ~~December~~June 3130, 2012 ~~while had 5 full-time employees during the same period ended December 31, 2011~~.

Nine Months Ended December 31, 2012 Compared to Nine Months Ended December 31, 2011

	% of Net Loss
	Nine Months Ended December 31,
	2012			2011
Revenues-
Trade, net of returns		-	%		-	%
Operating expenses
Payroll expenses		(2.3	)		(12.2	)
General and administrative		(2.1	)		(3.4	)
Rent and utilities		(0.2	)		(0.4	)
Legal and professional fees		(20.3	)		(41.8	)
Total operating expenses		(24.9	)		(57.8	)
Other (expenses)
Loss on disposal of assets		(0.3	)		-
Note interest		(0.5	)		(1.2	)
Total other (expenses)		(0.8	)		(1.2	)
Loss before income taxes		(25.7	)		(59.0	)
Provision for income taxes		-			-
Net loss from Continuing Operations		(25.7	)		(59.0	)
Discontinued Operations, Net of Taxes
Loss from discontinued operations, net of taxes		(68.6	)		(41.0	)
Loss on disposal of discontinued assets, net of taxes		(5.8	)		-
Loss from Discontinued Operations		(74.3	)		(41.0	)
Net loss		(100.0	)		(100.0	)
Less: Net loss attributable to noncontrolling interest		(36.6	)		(19.1	)
Net loss attributable to Elite Energies, Inc.		(63.4	)%		(80.9	)%

Note: Certain percentages may not sum to totals due to rounding.

For an understanding of the significant factors that influenced our performance during the nine months ended December 31, 2012 and 2011, the following discussion should be read in conjunction with the Condensed Consolidated Financial Statements and the Notes to Condensed Consolidated Financial Statements presented in this report.

Payroll expenses: The payroll expenses were $10,153 for the nine months ended December 31, 2012 and $24,515 for the same period ended December 31, 2011, representing a decrease of $14,362 or 58.6%. The decrease was primarily due to less hiring during current fiscal year. During the nine months ended December 31, 2012, excluding our partially owned subsidiary QGBS, we had 1 part-time employee since the second quarter of the current fiscal year.

General and administrative expenses: General and administrative expenses include depreciation, licenses, advertising, travel and state franchise taxes. Our general and administrative expenses were $9,545 for the nine months ended December 31, 2012, compared to $6,802 in the same period ended December 31, 2011, representing an increase of $2,743 or 40.3%, which was primarily due to certain general expenses we incurred during the nine months ended December 31, 2012.

Rent and utilities: The rent and utilities were $900 for the nine months ended December 31, 2012, compared to $900 in the same period ended December 31, 2011. Currently we rent a corporate business office in Sunnyvale, California.

Legal and professional fees: The legal and professional fees were $91,075 for the nine months ended December 31, 2012 and $84,044 for the nine months ended December 31, 2011, representing an increase of $7,031 or 8.4%. The increase was primarily attributable to a slight increase in charge rates by the outside professionals for the nine months ended December 31, 2012 as compared to the same period ended December 31, 2011.

Discontinued Operations: Our revenue was mainly generated from the sales of fixtures and environmentally friendly building materials, primarily hardwood floors, to the customers through our 50.52% owned subsidiary QGBS, which the business was discontinued from July 2012. For the nine months ended December 31, 2012, we generated $405,380 in revenue, representing a decrease of $378,424, or 48.3%, compared to the revenue of $783,804 during the same period ended on December 31, 2011. The decrease of our revenue was attributable to lower demand for our products as well as the discontinuance of the QGBS operations during the second quarter of the current fiscal year. Our cost of revenue includes expenses mainly related to the products sold. Our cost of revenue was $545,992 for the nine months ended December 31, 2012, compared to $629,150 for the nine months ended December 31, 2011, representing a decrease of $83,158 or 13.2%. The decrease of cost of revenue was due to the decrease of the revenue. Further, QGBS recorded $199,021 of the provision of inventory obsolescence during the second and third quarter of the current fiscal year and $-0- as compared to the same period ended December 31, 2011. The total operating expenses was $167,128 for the nine months ended December 31, 2012, compared to $237,097 for the nine months ended December 31, 2011, representing a decrease of $69,969 or 29.5%. The decrease of total operating expenses was primarily due to less hiring of full-time employees since the second quarter of the current fiscal year as compared to the same period ended December 31, 2011. QGBS hired 3 part-time employees from July 2012 to October 2012, and hired no employees thereafter compared to an average 5 full-time employees during the same period ended December 31, 2011.

LIQUIDITY AND CAPITAL RESOURCES

Since inception, we have incurred recurring losses and have an accumulated deficit of $~~841~~881,~~263~~534 through ~~December~~June 3130, ~~2012~~2013. As of ~~December~~June 3130, ~~2012~~2013, the Company’s current assets were $1445,~~259~~541 and current liabilities were $9070,~~423~~180, and total cash was $1345,~~986~~497. The Company had cash used in operating activities for the ~~nine~~three months ended ~~December~~June 3130, ~~2012~~2013 of $136,~~110~~464 and cash used in operating activities equal to $~~189~~10,~~887~~826 for the same ~~nine~~three month period in ~~2011~~2012. The decrease was primarily a result of the decrease in ~~inventory~~operating ~~level~~expenses incurred and paid during the three months ended June 30, 2013 than June 30, 2012. The Company had net cash of $212,~~811~~000 ~~used~~provided inby ~~financial~~financing activities and of $~~235~~11,~~421~~670 ~~provided~~used byin ~~financial~~financing activities for the ~~nine~~three months ended ~~December~~June 3130, ~~2012~~2013 and ~~2011~~2012, respectively. The ~~decrease~~increase was primarily due to ~~lower~~ proceeds from issuance of ~~commons~~common stock in ~~July,~~April ~~August~~2013 ~~and~~while ~~November~~there ~~2012,~~were asrepayments ~~compared~~of toshareholders’ ~~May~~loans in ~~2011~~April 2012.

We believe that we will need additional funding to satisfy our cash requirements for the next twelve months. We will continue to monitor our expenditures and cash flows position by reducing operating costs and through seeking additional financial funding. We cannot assure investors that additional financing will be available. In the absence of additional financing, we may be unable to proceed with our business plan.15

We believe that we will need additional funding to satisfy our cash requirements for the next twelve months. We will continue to monitor our expenditures and cash flow position by reducing operating costs, improving operating profitability, controlling inventory levels, working with vendors and other creditors to accept more favorable payment terms, and through seeking additional financing. Completion of our plan of operation is subject to attaining adequate financing. We cannot assure investors that additional financing will be available. In the absence of additional financing, we may be unable to proceed with our business plan. We expect that we will need around $100,000 for the ongoing continuing operations, and another $300,000 to $500,000 for any new operating projects.

GOING CONCERN

As reflected in the accompanying condensed consolidated financial statements, the Company had a net loss of $~~448~~8,~~871~~519, used $136,~~110~~464 of cash in operating activities during the ~~nine~~three months ended ~~December~~June 3130, ~~2012~~2013, and has an accumulated deficit of $~~841~~881,~~263~~534 at ~~December~~June 3130, ~~2012~~2013. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management believes that actions presently being taken to raise additional capital and implement its business plan will provide the opportunity for the Company to continue as a going concern.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).

SUBSEQUENT EVENT

CRITICAL ACCOUNTING POLICIES

The discussion and analysis of our results of operations and liquidity and capital resources are based on our consolidated financial statements, which have been prepared in accordance with GAAP. In connection with the preparation of condensed consolidated financial statements, the Company is required to make assumptions and estimates about future events, and apply judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and the related disclosures. The assumptions, estimates and judgments included within these estimates are based on historical experience, current trends and other factors we believe to be relevant at the time the condensed consolidated financial statements were prepared. On a regular basis, the accounting policies, assumptions, estimates and judgments are reviewed to ensure that the condensed consolidated financial statements are presented fairly and in accordance with GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from the assumptions and estimates, and such differences could be material.

We discussed accounting policies and assumptions that involve a higher degree of judgment and complexity within Note 2 to the condensed consolidated financial statements included in this quarterly report. Management believes that the application of these policies on a consistent basis enables us to provide useful and reliable financial information about our Company’s operating results and financial condition.

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Not required for smaller reporting companies.

Item 4.

Controls and Procedures

Disclosure controls and procedures. Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s principal executive officer and principal financial officer of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of ~~the~~June ~~end~~30, ~~of the period covered by this report~~2013. Based ~~upon~~on ~~that~~this evaluation, ~~the Company’s principal executive officer~~ and ~~principal financial officer concluded that~~ the ~~Company’s~~fact ~~disclosure controls and procedures are effective to ensure~~ that ~~information~~our ~~required~~Annual toReport beon ~~disclosed~~Form by10-K ~~the~~for ~~Company in~~ the ~~reports~~year ~~that~~ended ~~the~~March ~~Company~~31, ~~files~~2013 orwas ~~submits~~not ~~under~~timely filed, the ~~Exchange~~Company’s ~~Act,~~principal isexecutive ~~recorded,~~officer ~~processed, summarized~~ and ~~reported,~~principal ~~within~~financial ~~the~~officer ~~time~~concluded ~~periods~~that ~~specified in~~ the ~~SEC~~Company’s ~~rules~~disclosure ~~and~~controls ~~forms,~~ and ~~that~~procedures ~~such~~were ~~information~~not iseffective ~~accumulated~~as ~~and~~of ~~communicated to~~ the ~~Company’s~~period ~~management,~~covered ~~including~~by ~~the~~this ~~Company’s~~report. ~~principal~~The ~~executive~~management is ~~officer~~improving ~~and~~its ~~principal~~policy ~~financial~~to ~~officer,~~ensure asthat ~~appropriate,~~all future tofilings ~~allow~~will ~~timely~~be ~~decisions~~filed ~~regarding~~on ~~required~~a ~~disclosure~~timely basis.

Changes in internal control over financial reporting. There have been no changes in our internal control over financial reporting that occurred during the quarter covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. However, as our Annual Report on Form 10-K for the year ended March 31, 2013 was not timely filed, we will work on improving our policy to ensure that all future filings will be filed on a timely basis.

PART II - OTHER INFORMATION

Item 1.

Legal Proceedings

We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or Directors in their capacities as such, in which an adverse decision could have a material adverse effect.

Item 1A.

Risk Factors

Not required because we are a smaller reporting company.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

In ~~November~~April ~~2012~~2013, we issued ~~200~~600,000 shares of our common stock to a director of the Company for a purchase price of $612,000.

The aforementioned shares of our common stock are restricted shares, and may not be sold, transferred or otherwise disposed without registration under the Securities Act or an exemption there under. The shares of our common stock were offered and sold in reliance on the exemption from registration under Section 4(2) of the Act. The offering was not conducted in connection with a public offering, and no public solicitation or advertisement was made or relied upon by the individuals in connection with the offering. The proceeds from the share issuance are to be used for working capital purposes.

Item 3.

Defaults Upon Senior Securities

None.

Item 4.

Mine Safety Disclosure

Not applicable.

Item 5.

Other Information

There was no other information during the quarter ended June ~~December 31~~30, ~~2012~~2013 that was not previously disclosed in our filings during that period.

Item 6.

Exhibits.

Exhibit No.		Title of Document
31.1		Certification of the Principal Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of the Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1*		Certification of the Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2*		Certification of the Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS **		XBRL Instance Document

101.SCH **		XBRL Taxonomy Extension Schema Document

101.CAL **		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF **		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB **		XBRL Taxonomy Extension Label Linkbase Document

101.PRE **		XBRL Taxonomy Extension Presentation Linkbase Document

In accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not filed.

** Furnished herewith. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

2118

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 there unto duly authorized.

	ELITE ENERGIES, INC.
Date: February 19, 2013	By: /s/Spencer Luo
Date: August 20, 2013	By:	/s/Spencer Luo
	Spencer Luo
	Chief Executive Officer
	(Duly Authorized Officer and Principal Executive Officer)

Date: February 19, 2013 By: /s/Stephen Wan Stephen Wan Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)

Date: August 20, 2013	By:	/s/Stephen Wan
	Stephen Wan Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)

Filing Compare · Elite Energies, Inc.