Condensed Consolidated Balance Sheets

ASSETS
	December 31, 2011			September 30, 2011
Current assets
HST receivable	$	5,665		$	1,452
Due from related parties (Note 4)		21,087			19,815
Total current assets		26,752			21,267
Total assets	$	26,752		$	21,267

LIABILITIES
Current liabilities
Bank overdraft	$	4,337		$	3
Due to related parties (Note 4)		59,567			-
Accounts payable		268,352			8,639
Total current liabilities		332,256			8,642
Total liabilities		332,256			8,642

STOCKHOLDERS’ (DEFICIT) EQUITY
Common stock, $0.00001 par value, 200,000,000 shares authorized, 145,668,234 shares issued and outstanding (September 30, 2011: 1,000,000) (Note 8)		1,456			10
Additional paid-in capital		71,937			38,515
Subscription receivable		-			(879	)
Shares to be issued (14,416,667) (Note 6)		628,741			-
Deficit accumulated during the development stage		(989,888	)		(24,088	)
Accumulated other comprehensive (loss)		(938	)		(933	)
Total InterAmerican stockholders’ (deficit) equity		(288,692	)		12,625
Non-controlling interest		(16,812	)		-
Total (deficit) equity		(305,504	)		12,625
Total liabilities and equity	$	26,752		$	21,267

Condensed Consolidated Statements of Operations

and Comprehensive Loss (Unaudited)

	For the Three Months Ended December 31, 2011			For the Three Months Ended December 31, 2010			Period from inception (January 22, 2010) through December 31, 2011

Revenues	$	-		$	-		$	-

Expenses
General and administrative		26,140			12			36,691
Management fees-related party		39,096			-			39,096
Consulting fees		16,290			-			16,290
Director fees		16,000			-			16,000
Research and Development		2,691			-			16,228
Loss on acquisition		875,541						875,541
Total Expenses		975,758			12			999,846

Net (loss) before other income		(975,758	)		(12	)		(999,846	)

Other (expense) income:
Foreign currency gain (Loss)		(4,342	)		-			(4,342	)
Total other income		(4,342	)		-			(4,342	)

Net (loss)	$	(980,100	)	$	(12	)	$	(1,004,188	)
Net (loss) attributable to non-controlling interest		(14,300	)		-			(14,300	)
Net (Loss) attributable to InterAmerican	$	(965,800	)	$	(12	)	$	(989,888	)


Net Loss per share, basic and diluted	$	(0.006	)	$	(0.000	)

Weighted Average Number of Common Shares Outstanding During the Year – basic and diluted		156,303,345			936,757

Comprehensive (Loss):
Net (Loss)	$	(980,100	)	$	(12	)	$	(1,004,188	)
Foreign exchange translation adjustment for the period		(5	)		-			(938	)
Comprehensive (Loss)		(980,105	)		(12	)		(1,005,126	)
Comprehensive (loss) attributable to non-controlling interest		(14,301	)		-			(14,487	)
Comprehensive (Loss) attributable to InterAmerican	$	(965,804	)	$	(12	)	$	(990,639	)

Condensed Consolidated Statement of Stockholders' (Deficit) Equity

Since Inception (January 22, 2010) through December 31, 2011

	Number of Shares		Amount		Additional Paid-In Capital		Shares to be Issued		Subscription Receivable			Deficit Accumulated During the Development Stage			Other Comprehensive Income			Non-controlling Interest			Total Equity
Balance, January 22, 2010 (Date of Inception)		-		-		-		-		-			-			-			-			-
Issuance of stock at $0.001 per share for subscription receivable, February 2010		936,757	$	9	$	870		-		(879	)	$	-		$	-			-		$	-

Balance, September 30, 2010		936,757		9		870		-		(879	)		-			-			-			-

Issuance of shares at $0.585 for cash, June 2011		63,243		1		37,645		-		-			-			-			-			37,646

Foreign currency translation (loss)		-		-		-		-		-			-			(933	)		-			(933	)

Net loss for the year		-		-		-		-		-			(24,088	)		-			-			(24,088	)
Balance, September 30, 2011		1,000,000	$	10	$	38,515		-		(879	)	$	(24,088	)	$	(933	)		-		$	12,625

Effect of reverse acquisition, October 3, 2011, shares issued May 2012		144,668,234		1,446		1,744				-			-			-			(2,512	)		678

Share subscription received		-		-		-		-		879			-			-			-			879

Shares to be issued for settlement with a related party		-		-		-		457,875		-			-			-			-			457,875

Settlement of related party fees		-		-		-		127,866		-			-			-			-			127,866

Settlement of consulting fees with an unrelated party		-		-		-		3,000		-			-			-			-			3,000

Shares to be issued for cash received at $0.02		-		-		-		35,000		-			-			-			-			35,000

Shares to be issued for cash received at $0.03	-		-		-		5,000		-		-			-			-			5,000

Settlement with a related party for forgiveness of debt	-		-		31,678		-		-		-			-			-			31,678

Foreign currency translation	-		-		-		-		-		-			(5	)		-			(5	)

Net (loss) attributable to non-controlling interest	-		-		-				-		-			-			(14,300	)		(14,300	)

Net (loss) attributable to InterAmerican	-		-		-		-		-		(965,800	)		-			-			(965,800	)
Balance, December 31, 2011	145,668,234	$	1,456	$	71,937	$	628,741	$	-	$	(989,888	)	$	(938	)	$	(16,812	)	$	(305,504	)

Condensed Consolidated Statements of Cash Flows

INTERAMERICAN GAMING INC.

	Three Months Ended December 31, 2011			Three Months Ended December 31, 2010			Period from Inception (January 22, 2010) through December 31, 2011
Operating activities
Net (loss)	$	(980,100	)	$	(12	)	$	(1,004,188	)
Adjustments to reconcile net loss to net cash:
Loss on acquisition		875,541			-			875,541
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable		27,279			(32	)		35,918
Increase (decrease) in related party payables		37,164			-			37,164
Increase (decrease) in HST receivable		(4,213	)		-			(5,665	)
Net cash (used in) operating activities		(44,329	)		(44	)		(61,230	)

Financing activities
Bank overdraft		4,334			12			4,337
Advances from related parties		-			-			(19,784	)
Proceeds from stock subscriptions		40,000			-			40,000
Proceeds from issuance of shares		-			-			37,646
Net cash provided by financing activities		44,334			12			62,199

Effect of foreign exchange (loss)		(5	)		-			(938	)

Increase in cash and cash equivalents		-			(32	)		31

Cash and cash equivalents, beginning of period		-			32			(31	)

Cash and cash equivalents, end of period	$	-		$	-		$	-

Supplemental Information
Interest paid		-			-			-
Income tax paid		-			-			-

Non cash activities:

During the three months ended December 31, 2011 the Company:

● Closed the reverse merger, 77,800,000 shares of the Company’s common shares valued at $240,000 were issued in May 2012, $874,862 in liabilities were assumed in the transaction;

● The Company settled $457,875 in amounts owing to a related party with 10,000,000 shares at $0.045, shares to be issued;

● The Company settled $127,866 in historical consulting fees with related and former related parties with 2,000,000 shares, the shares were issued in May 2012; and

● The Company settled $3,000 in consultant fees payable to an unrelated party with 500,000 shares, the shares were issued in May 2012.

During the three months ended December 31, 2010 the Company had no non-cash activities.

Notes to Condensed Consolidated Financial Statements

InterAmerican Gaming, Inc. 10-Q