UNITED STATES SECURITIES AND EXCHANGE COMMISSION

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

FORM 10-Q


x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended January 31, 2015

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ___________ to ___________

Commission File Number 000-10822

Essential Innovations Technology Corp.
(Exact name of registrant as specified in its charter)

Nevada		88-0492134
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

15/F, Radio City
505-511 Hennessy Road, Causeway Bay, Hong Kong
(Address of principal executive offices)		(Zip Code)

+852 2910-7828
(Registrant’s telephone number)

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

~~Washington~~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), ~~D.C.~~and ~~20549~~(2) has been subject to such filing requirements for the past 90 days.

~~FORM~~x ~~10-Q~~Yes ¨ No

þIndicate ~~QUARTERLY~~by ~~REPORT~~check ~~PURSUANT~~mark TOwhether ~~SECTION~~the 13registrant ORhas 15submitted 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 (d§ 232.405 of this chapter) OFduring ~~THE~~the ~~SECURITIES~~preceding ~~EXCHANGE~~12 ~~ACT~~months OF(or ~~1934~~for such shorter period that the registrant was required to submit and post such files).

~~For~~x ~~the~~Yes ~~quarterly~~¨ ~~period ended July 31, 2014~~No

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

For the transition period from ___________ to ___________

Commission File Number 000-10822

Essential Innovations Technology Corp. (Exact name of registrant as specified in its charter)

Nevada		88-0492134
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

15/F, Radio City
505-511 Hennessy Road, Causeway Bay, Hong Kong
(Address of principal executive offices)		(Zip Code)

+852 2910-7828 (Registrant’s telephone number)

n/a (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 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. þ Yes o 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). þ Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o Accelerated filer ¨ Non-accelerated filer o Smaller reporting company þx

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ~~o Yes þ No~~

~~Indicate~~¨ ~~the~~Yes ~~number~~x of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of September 11, 2014, the issuer had one class of common stock, with a par value of $0.001, of which 24,352,445 shares were issued and outstanding.No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of March 11, 2015, the issuer had one class of common stock, with a par value of $0.001, of which 24,352,445 shares were issued and outstanding.

TABLE OF CONTENTS

		Page	~~Page~~
~~PART I—FINANCIAL INFORMATION~~	PART I—FINANCIAL INFORMATION
Item 1:	Financial Statements:		3
	Unaudited Balance Sheets as at July 31, 2014, and October 31, 2013		4
	Unaudited Balance Sheets as at January 31, 2015, and October 31, 2014	3
	Unaudited Statements of Operations for the Three and Nine Months Ended July 31, 2014 and 2013 and for the period from commencement of development stage, November 1, 2009, to July 31, 2014		5
	Unaudited Statements of Operations for the Three Months Ended January 31, 2015 and 2014
	Unaudited Statements of Cash Flows for the Nine Months Ended July 31, 2014 and 2013 and for the period from commencement of development stage, November 1, 2009, to July 31, 2014		6
	and for the period from commencement of development stage, November 1, 2009, to January 31, 2015	4
	Notes to Financial Statements (Unaudited)		8
	Unaudited Statements of Cash Flows for the Three Months Ended January 31, 2015 and 2014
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations		11
	and for the period from commencement of development stage, November 1, 2009, to January 31, 2015	5
Item 3:	Quantitative and Qualitative Disclosures About Market Risk		12
	Notes to Financial Statements (Unaudited)	7
Item 4:	Controls and Procedures		12
Item 2:	Management’s Discussion and Analysis of Financial Condition
PART II—OTHER INFORMATION
	and Results of Operations	12
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds		13
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	14
Item 5:	Other Events		13
Item 4:	Controls and Procedures	14
Item 6:	Exhibits		13
	PART II—OTHER INFORMATION
	Signatures		14
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	14
Item 5:	Other Events	14
Item 6:	Exhibits	15
	Signatures	16

PART I—FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage company)

Balance Sheets

January 31, 2015 and October 31, 2014

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage enterprise)

Balance Sheets

July 31, 2014 and October 31, 2013

(unaudited)

	July 31,			October 31,
	January 31,			October 31,
	2014			2013
	2015			2014
Assets
Current assets:
Cash	$	9840,572		$	~~82,424~~134
Total current assets		9840,572			~~82,424~~134
Total assets	$	9840,572		$	~~82,424~~134
Liabilities and Stockholders' Deficiency
Current liabilities:
Accounts payable	$	~~401~~395,~~138~~567		$	~~372~~399,~~872~~850
Accrued expenses		8592,~~000~~500			8292,500
Accrued compensation		64119,~~033~~486			1089,~~000~~486
Amounts due to stockholders		55132,~~369~~518			4974,~~570~~511
Current portion of long term debt		491,299			491,299
Total current liabilities		1,~~096~~231,~~839~~370			1,~~006~~147,~~241~~646
Stockholders' Deficiency
Preferred stock:
$0.001 par value, authorized 10,000,000 shares, issued and outstanding nil shares (2013 - nil)		-			-
$0.001 par value, authorized 10,000,000 shares,
issued and outstanding nil shares (2014 - nil)		-			-
Common stock:
$0.001 par value, authorized 500,000,000 shares, issued and outstanding 24,352,445 shares (2013 - 23,452,445)		24,353			23,453
$0.001 par value, authorized 500,000,000 shares,
Additional paid-in capital		3,208,540			3,186,940
issued and outstanding 24,352,445 shares (2014 - 24,352,445)		24,353			24,353
Additional paid-in capital		3,208,540			3,208,540
Accumulated deficit		(1,849,309	)		(1,849,309	)
Deficit accumulated during development stage		(2,~~480~~574,~~325~~382	)		(2,~~284~~531,~~901~~096	)
Total stockholders' deficiency		(1,~~096~~190,~~741~~798	)		(~~923~~1,~~817~~147,512	)
Total liabilities and stockholders' deficiency	$	9840,572		$	~~82,424~~134

See accompanying notes to financial statements

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage ~~enterprise~~company)

Statements of Operations

For the Three ~~and Nine~~ Months Ended ~~July~~January 31, ~~2014~~2015 and ~~2013~~2014 and for the period

from commencement of development stage, November 1, 2009,

to ~~July~~January 31, ~~2014~~2015

(unaudited)

	Three Months Ended July 31						Nine Months Ended July 31						cumulative from commencement of development stage, November 1, 2009, to July 31,
	Three months ended January 31, 2015			Three months ended January 31, 2014			Cumulative from commencement of development stage, November 1, 2009, to January 31, 2015
	2014			2013			2014			2013			2014
Revenue	$	-		$	-		$	-
Revenue	$	-		$	-		$	-		$	-		$	-
Expenses:
Expenses:
General and administrative		36,901			44,187			1,001,273
General and administrative		58,433			131,635			176,477			278,965			919,986
Marketing		-			-			1,280,838
Marketing		-			-			-			-			1,280,838
Impairment loss		-			-			260,068
Impairment loss		-			-			-			-			260,068
Total operating expenses		36,901			44,187			2,542,179
Total operating expenses		58,433			131,635			176,477			278,965			2,460,892
Loss from operations		(36,901	)		(44,187	)		(2,542,179	)
Loss from operations		(58,433	)		(131,635	)		(176,477	)		(278,965	)		(2,460,892	)
Interest expense		(6,385	)		(6,385	)		(134,496	)
Interest expense		(6,385	)		(6,385	)		(18,947	)		(19,028	)		(121,726	)
Gain on debt forgiveness		-			-			102,293
Gain on debt forgiveness		-			-			-			-			102,293
Net Loss	$	(43,286	)	$	(50,572	)	$	(2,574,382	)
Net Loss	$	(64,818	)		(138,020	)	$	(195,424	)	$	(297,993	)	$	(2,480,325	)
Net loss per share
Net loss per share
Basic and diluted net loss per share	$	(0.00	)	$	(0.00	)
Basic and diluted net loss per share	$	(0.00	)	$	(0.01	)	$	(0.01	)	$	(0.02	)
Weighted average number of shares outstanding
Weighted average number of shares outstanding
Basic and diluted		24,352,445			23,452,445
Basic and diluted		24,049,184			17,332,445			23,653,544			17,332,445

See accompanying notes to financial statements

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage ~~enterprise~~company)

Statements of Cash Flows

For the ~~Nine~~Three Months Ended ~~July~~January 31, ~~2014~~2015 and ~~2013~~2014 and for the period

from commencement of development stage, November 1, 2009,

to ~~July~~January 31, ~~2014~~2015

(unaudited)

	Nine Months Ended July 31						cumulative from commencement of development stage, November 1, 2009, to July 31,
	Three months ended January 31, 2015			Three months ended January 31, 2014			Cumulative from commencement of development stage, November 1, 2009, to January 31, 2015
	2014			2013			2014
Cash flows from operating activities:
Net loss	$	(~~195~~43,~~424~~286	)	$	(~~297~~50,~~993~~572	)	$	(2,~~480~~574,~~325~~382	)
Impairment loss		-			-			260,068
Adjustments to reconcile net loss for the period to
net cash used in operating activities:
Common stock issued to related parties for services received		-			-			150,000
Common stock issued for services received		-			~~57,800~~-			1,355,300
Options issued for services received		-			~~21,500~~			39,838
Gain on forgiveness of debt		-			-			(102,293	)
Changes in assets and liabilities:
Accounts payable		28(4,~~266~~283	)		22(1,~~365~~328	)		4136,~~608~~037
Accrued expenses		~~2,500~~-			42(12,500	)		~~145~~152,~~000~~500
Accrued compensation		5430,~~033~~000			~~85,787~~-			~~343~~399,~~820~~273
Net cash used in operating activities		(~~110~~17,~~625~~569	)		(6864,~~041~~400	)		(~~246~~283,~~984~~659	)
Cash provided by financing activities:
Cash (used) provided by financing activities:
Proceeds received for common stock		~~22,500~~-			~~22,500~~-			170,000
Advances from stockholders, net		558,~~799~~007			67(13,~~940~~807	)		77154,~~082~~231
Net cash provided by financing activities		28,299			90,440			247,082
Net cash (used) provided by financing activities		58,007			(13,807	)		324,231
(Decrease) increase in cash during the period		~~(82~~40,~~326~~438	)		22(78,~~399~~207	)		9840,572
Cash at beginning of the period		~~82,424~~134			~~146~~82,424			-
Cash at end of the period	$	9840,572		$	224,~~545~~217		$	9840,572

See accompanying notes to financial statements.

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage company)

Statements of Cash Flows (continued)

For the Three Months Ended January 31, 2015 and 2014 and for the period

from commencement of development stage, November 1, 2009,

to January 31, 2015

ESSENTIAL INNOVATIONS TECHNOLOGY CORP

(a development stage enterprise)

Statements of Cash Flows (continued)

For the Nine Months Ended July 31, 2014 and 2013 and for the period

from commencement of development stage, November 1, 2009,

to July 31, 2014

(unaudited)

Supplementary Information:
	Nine Months Ended July 31				cumulative from commencement of development stage, November 1, 2009, to July 31,
	2014		2013		2014
Cash paid for:
Income taxes	$	-	$	-	$	-
Interest	$	-	$	-	$	-
Non-cash transactions:
Common stock issued for settlement of amounts owing	$	-	$	-		184,341
Common stock issued for settlement of accrued remuneration		-		-		1,055,925
Intellectual property acquired for common stock, options
and committment for future cash payments		-		-		260,068
Common stock issued for settlement of subscriptions received in prior periods		-		-		13,977

Supplementary Information:

	Three months ended January 31,2015		Three months ended January 31, 2014		Cumulative from commencement of development stage, November 1, 2009, to January 31, 2015

Cash paid for:
Income taxes	$	-	$	-	$	-
Interest	$	-	$	-	$	-

Non-cash transactions:
Common stock issued for settlement of amounts owing	$	-	$	-	$	184,341
Common stock issued for settlement of accrued remuneration		-		-		1,055,925
Intellectual property acquired for common stock, options
and committment for future cash payments		-		-		260,068
Common stock issued for settlement of subscriptions received in prior periods		-		-		13,977

See accompanying notes to financial statements.

ESSENTIAL INNOVATIONS TECHNOLOGY CORP.

(a development stage company)

January 31, 2015

NOTES TO FINANCIAL STATEMENTS

~~July 31, 2014~~(unaudited)

Note 1. Description of Business and Summary of Significant Accounting Policies

Organization

The Company has secured exclusive distribution rights to represent equipment manufactured by one of China’s top HVAC (heating, ventilation and air conditioning) manufacturers, Mammoth China, for the countries of the Philippines and the United Arab Emirates. Such products and technologies represented include geothermal and water source heat pumps, commercial roof top units, fan coils and variable air volume systems. In addition, the Company is endeavouring to facilitate the establishment of an internationally recognized industry association (IGHSPA – the International Ground Source Heat Pump Association) in both of these countries to enhance certain product reputation and credibility.

Development Stage

The Company is devoting substantially all of its efforts on establishing the business and principal operations have not commenced. All losses accumulated since inception of the development stage have been considered as part of the Company’s development stage activities.

The Company re- entered the development stage effective November 1, 2009.

Interim Period Financial Statements

The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the Securities and Exchange Commission’s instructions. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The results of operations reflect interim adjustments, all of which are of a normal recurring nature and, in the opinion of management, are necessary for a fair presentation of the results for such interim period. The results reported in these interim financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. Certain information and note disclosure normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. These unaudited interim financial statements should be read in conjunction with the audited financial statements ~~included in the Company’s Annual Report~~ for the year ended October 31, ~~2013~~2014, as filed with the Securities and Exchange Commission on February 1312, ~~2014~~2015.

Going Concern

The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not generated any revenue since commencement of the development stage, has an accumulated deficit, and has had no positive cash flows from operations. It is the Company’s intention to raise additional equity to finance development of a market for its products until positive cash flows can be generated from its operations. However, there can be no assurance that such additional funds will be available to the Company when required or on terms acceptable to the Company. Such limitations could have a material adverse effect on the Company’s business, financial condition or operations, and these financial statements do not include any adjustment that could result. Failure to obtain sufficient additional funding would necessitate the Company to reduce or limit its operating activities or even discontinue operations.

Basis of presentation

These financial statements have been prepared in accordance accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”).

Advertising Expenses

Advertising costs are expensed as incurred. The Company did not incur any advertising costs during the three months ended January 31, 2015 and 2014.

Income Taxes

Deferred income tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities, operating loss, and tax credit carryforwards, and are measured using the enacted income tax rates and laws that will be in effect when the differences are expected to be recovered or settled. Realization of certain deferred income tax assets is dependent upon generating sufficient taxable income in the appropriate jurisdiction. The Company records a valuation allowance to reduce deferred income tax assets to amounts that are more likely than not to be realized. The initial recording and any subsequent changes to valuation allowances are based on a number of factors (positive and negative evidence). The Company considers its actual historical results to have a stronger weight than other, more subjective, indicators when considering whether to establish or reduce a valuation allowance.

The Company continually evaluates its uncertain income tax positions and may record a liability for any unrecognized tax benefits resulting from uncertain income tax positions taken or expected to be taken in an income tax return. Estimated interest and penalties are recorded as a component of interest expense and other expense, respectively.

Because tax laws are complex and subject to different interpretations, significant judgment is required. As a result, the Company makes certain estimates and assumptions in: (1) calculating its income tax expense, deferred tax assets, and deferred tax liabilities; (2) determining any valuation allowance recorded against deferred tax assets; and (3) evaluating the amount of unrecognized tax benefits, as well as the interest and penalties related to such uncertain tax positions. The Company’s estimates and assumptions may differ significantly from tax benefits ultimately realized.

Net Loss Per Share

Basic net loss per share is calculated by dividing the net loss attributable to common shareholders by the weighted average number of common shares outstanding in the period. Diluted loss per share takes into consideration common shares outstanding (computed under basic loss per share) and potentially dilutive securities. For the three months ended January 31, 2015 and 2014, outstanding stock options and warrants are antidilutive because of net losses, and as such, their effect has not been included in the calculation of diluted net loss per share. Common shares issuable are considered outstanding as of the original approval date for purposes of earnings per share computations.

Comprehensive Income (Loss)

The Company has no components of other comprehensive income (loss) and accordingly, no statement of comprehensive income (loss) is included in the accompanying financial statements.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the fiscal year. The Company bases its estimates on historical experience, current conditions and on other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates and assumptions.

Financial Instruments

The Company has the following financial instruments: cash, accounts payable, accrued expenses and compensation, and amounts due to stockholders. The carrying value of these financial instruments approximates their fair value due to their liquidity or their short-term nature.

Share-Based Compensation

The Company accounts for stock-based awards at fair value on date of grant and recognition of compensation over the service period for awards expected to vest. The fair value of stock options is determined using the Black-Scholes valuation model, which is consistent with the Company’s valuation techniques previously utilized for options in footnote disclosures.

Recent Accounting Pronouncements

OnThe ~~June~~Company ~~10,~~reviews ~~2014,~~recently ~~the~~adopted ~~Financial~~and ~~Accounting~~proposed ~~Standards~~accounting ~~Board~~standards ~~(FASB)~~on ~~issued~~a ~~Accounting~~continual ~~Standards Update No~~basis. ~~2014-10,~~For ~~Development~~the ~~Stage~~three ~~Entities~~months ~~(Topic~~ended ~~915):~~January ~~Elimination of Certain Financial Reporting Requirements~~31, ~~Including~~2015 anno ~~Amendment~~new topronouncements ~~Variable~~had ~~Interest~~a ~~Entities~~material ~~Guidance~~impact inon ~~Topic~~the ~~810,~~Company’s ~~Consolidation, which removes all incremental~~ financial ~~reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification~~statements. The presentation and disclosure requirements in Topic 915 will no longer be required for the first annual period beginning after December 15, 2014. The revised consolidation standards are effective one year later, in annual periods beginning after December 15, 2015. Early adoption is permitted.

There have been no other recently issued accounting pronouncements through the date of this report that the Company believes will have a material impact on the financial position, results of operations, or cash flows.

Note 2. Term Loan

The foreclosure of the Company’s operations and assets relating to the business of manufacture, sales and installation of geo exchange heat products and technology on March 27, 2009 were in satisfaction of $2,413,070 owing to a secured lender. The Company still owes $491,299 to a secured lender. By agreement, the secured lender has agreed that there will be no further interest, penalties or fees charged and that the Company has until October 31, ~~2014~~2015 to negotiate a settlement of this debt with the secured lender. The debt is secured by a charge over all the assets of the Company.

Note 3. Related-Party Transactions and Balances

During the ~~nine~~three months ended ~~July~~January 31, ~~2014~~2015 and ~~2013~~2014 stockholders of the Company advanced $5388,~~060~~022 and $674,~~940~~420, respectively and were repaid $4730,~~261~~015 and $~~nil~~18,227, respectively. The balance owing as at ~~July~~January 31, ~~2014~~2015 of $55132,~~369~~518, is included in advances due to stockholders.

An entity, related by common ownership to two shareholders of the Company, has provided consulting services in the amount of $~~22,500~~nil and $457,~~000~~500 during the respective ~~nine~~three ~~months~~month periods ended ~~July~~January 31, ~~2014~~2015 and ~~2013~~2014. The balance owing as at ~~July~~January 31, ~~2014~~2015 of $8592,~~000~~500 is included in accrued expenses.

Accrued Remuneration and Services

During the three months ended January 31, 2015 and 2014 the Company’s president and sole director provided management services for which the amounts of $30,000 and $30,000 respectively have been accrued. The balance owing as at January 31, 2015 of $119,486 is included in accrued compensation.

Note 4. Share Capital

Preferred Stock

The Company’s authorized capital includes 10,000,000 shares of preferred stock of $0.001 par value. The designation of rights including voting powers, preferences, and restrictions shall be determined by the Board of Directors before the issuance of any shares.

No shares of preferred stock are issued and outstanding as of ~~July~~January 31, ~~2014 and 2013~~2015.

Common Stock

The Company is authorized to issue 500,000,000 shares of common stock, par value of $0.001.

~~During~~No shares have been issued during the ~~nine~~three months ended ~~July~~January 31, ~~2014 the Company~~2015.

●For ~~Issued~~additional ~~900~~details of stock issuances prior to the three months ended January 31,~~000~~ ~~shares~~2015 ofplease ~~common~~see ~~stock~~the Form 10-K for ~~cash~~the ~~proceeds~~fiscal ofyear ~~$22~~ended October 31,~~500~~ 2014 filed with the Securities Exchange Commission on February 12, 2015.

Stock Purchase Warrants

At January 31, 2015, the Company had reserved shares of common stock for the following outstanding warrants to purchase 66,494 shares of the Company’s common stock:

Number of warrants				Exercise Price				Expiry
	66,494			$	0.02				2050

No warrants were issued or exercised in the three months ended January 31, 2015.

Note 5. Stock-Based Compensation

Although the Company does not have a formal stock option plan, it issues stock options to directors, employees, advisors and consultants. Stock options generally have a four- to five-year contractual term, vest immediately and have no forfeiture provisions. The fair value of each option granted is estimated at the date of grant using the Black-Scholes option pricing model.

~~ITEM~~A ~~2. MANAGEMENT~~summary of the Company’Ss ~~DISCUSSION~~stock ~~AND~~options ~~ANALYSIS~~as of January 31, 2015 is as follows:

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

	Number of Options		Weighted Average Exercise Price
Outstanding at October 31, 2014		550,000		0.30
Options issued		-		-
Outstanding at January 31, 2015		550,000	$	0.30

The following ~~discussion~~table ~~should~~summarizes bestock ~~read~~options inoutstanding ~~conjunction~~at ~~with the accompanying unaudited financial statements for the three and nine month periods ended July~~ January 31, 2014 and 2013, and for the period from commencement of development stage, November 1, 2009, to July 31, 2014 and our annual report on Form 10-K for the year ended October 31, 2013, including the financial statements and notes thereto.2015:

Exercise Price		Number Outstanding at January 31, 2015		Average Remaining Contractual Life (Years)		Number Exercisable at January 31, 2015		Intrinsic value
$	0.25		500,000		2.00		500,000		-
$	0.75		50,000		0.25		50,000		-

As at January 31, 2015 550,000 shares of common stock were reserved for outstanding options. The Company’s policy is to issue new shares as settlement of options exercised. There were no options issued and none exercised during the three months ended January 31, 2015. The fair value of each option granted is estimated at the date of grant using the Black-Scholes option-pricing model The assumptions used in calculating the fair value of the options granted were: risk-free interest rate of 1.0%, a 2 year expected life, a dividend yield of 0.0%, and a stock price volatility factor of 100%.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the accompanying unaudited financial statements for the three month periods ended January 31, 2015 and 2014, and for the period from commencement of development stage, November 1, 2009, to January 31, 2015 and our annual report on Form 10-K for the year ended October 31, 2014, including the financial statements and notes thereto.

Forward-Looking Information May Prove Inaccurate

This report contains statements about the future, sometimes referred to as “forward-looking” statements. Forward-looking statements are typically identified by the use of the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project,” “propose,” “plan,” “intend,” and similar words and expressions. Statements that describe our future strategic plans, goals, or objectives are also forward-looking statements.

Readers of this report are cautioned that any forward-looking statements, including those regarding our management’s current beliefs, expectations, anticipations, estimations, projections, proposals, plans, or intentions, are not guarantees of future performance or results of events and involve risks and uncertainties. The forward-looking information is based on present circumstances and on our predictions respecting events that have not occurred, that may not occur, or that may occur with different consequences from those now assumed or anticipated. Actual events or results may differ materially from those discussed in the forward-looking statements as a result of various factors. The forward-looking statements included in this report are made only as of the date of this report. We are not obligated to update such forward-looking statements to reflect subsequent events or circumstances.

Introduction

~~During~~We ~~the~~have ~~three and nine month periods ended July 31, 2014 the Company continued efforts to create business opportunities in markets for which it has~~ secured exclusive ~~distribution~~worldwide rights to ~~represent~~certain ~~equipment~~unique ~~manufactured~~technologies byeach ~~one~~with ofsignificant ~~China's~~potential ~~top~~for ~~heating,~~environmental ~~ventilation,~~ and ~~air~~economic ~~conditioning~~benefit ~~(“HVAC”) manufacturers, Mammoth Technologies. These countries include the India, the Philippines~~ and ~~the UAE~~impact.

InThe ~~making~~first ~~such~~technology ~~active~~is ~~efforts,~~a ~~the~~new ~~Company~~and ~~continues~~improved tomethod ~~seek~~for ~~to provide potential clients, primarily in~~ the ~~commercial and residential construction industry, with~~ design ~~consulting services that can employ highly innovative energy system implementation practices. Company expertise includes an internalized process~~ of ~~planning, designing, engineering,~~ equipment ~~specifying~~used ~~and~~in ~~financial~~the ~~system~~heating ~~operational~~of ~~modeling~~a ~~that~~variety ~~will~~of ~~ultimately~~fluids ~~provide~~such ~~long-term~~as ~~economic~~oil, ~~advantages~~water ~~and~~(to ~~overall environmental sustainability~~steam). Equipment ~~The~~constructed ~~Company continues to undertake direct dialogue~~ with ~~land~~our ~~developers~~technology ~~and~~would ~~government~~also ~~organizations~~be ~~that~~able ~~have~~to ~~knowledge~~provide ofcontinued ~~our~~evaporative ~~high-level~~techniques ofallowing ~~expertise~~for ~~and successful track record in~~ the ~~sector~~preparation ~~and~~of ~~that~~fresh ~~are~~water ~~seeking~~from ~~specifically~~seawater ~~to apply and deploy renewables and green technologies in their projects~~(desalination).

~~Further~~The ~~during~~second ~~this~~technology ~~period~~is ~~the~~a ~~Company~~new ~~CEO~~and ~~participated~~improved inmethod for the ~~ACREX~~combined ~~2014~~mechanical ~~Conference~~heating inand ~~New~~transport ~~Delhi,~~of ~~India~~fluids. InThis ~~such~~technology ~~regards,~~particularly ~~our~~relates ~~CEO~~to ~~was an invited global expert in~~ the field of ~~Geothermal~~heat ~~Heating~~generation and ~~Cooling~~most ~~systems~~specifically ~~and personally conducted a 3 hour seminar~~ to ~~a large audience of contractors, developers, and government officials interested in~~ the ~~application~~heating of ~~geothermal~~fluid ~~technology~~mediums inby ~~the~~mechanical ~~Indian~~means ~~marketplace. The~~rather ~~Company~~than isby ~~now~~electrical ~~working~~means ~~conjunctively~~as with aconventional ~~local~~electrical ~~Indian~~heating ~~engineering~~coils, ~~firm~~through inutilization ~~New Delhi to present and propose system designs and budgets for a number~~ of ~~different~~boundary ~~projects~~layer inprincipals ~~New Delhi~~ and ~~other~~the ~~regions~~process of ~~India as well~~cavitation.

11Additionally, we have secured exclusive distribution rights to represent equipment manufactured by one of China's top HVAC manufacturers, Mammoth China, for the countries of the Philippines, Dubai and the UAE. Such products and technologies represented include, geothermal and water source heat pumps, roof top units, fan coils and variable air volume systems.

~~During~~We ~~the~~have ~~quarter~~continued ~~ended~~to ~~July~~initiate ~~31,~~discussions ~~2014, the Company established a working relationship~~ with ~~Overdrive~~potential ~~Engineering~~candidates infor ~~New~~joint ~~Delhi,~~venture ~~India, This~~or ~~organization~~partnership ~~has~~possibilities aduring ~~team~~Q1 of2015. ~~engineers~~In ~~and~~seeking ~~designers~~relationships, ~~focused~~we onemphasize the ~~sales~~possible ~~and~~public ~~marketing~~image ofbenefits ~~various~~from ~~types~~using ofenvironmentally ~~green~~friendly ~~building~~ technologies ~~to the Indian marketplace. In this regards Overdrive is now working towards securing a contract that they have bid on with the ITC hotel group in India~~, ~~one~~as ofwell ~~the~~as ~~largest~~marketing ~~companies~~and onrevenue ~~the Indian continent~~benefits. ~~The~~In ~~Company~~endeavoring ~~further~~to ~~continued~~this ~~negotiations~~extent ~~with~~we ahave ~~construction~~engaged ~~management company in~~ the ~~Philippines~~efforts ~~interested~~of inthird-party ~~working~~sources ~~in conjunction~~ with ~~the~~strong ~~Company to sell~~industry, ~~market~~private and ~~install~~governmental ~~the~~contacts ~~Mammoth technologies~~ in ~~the~~various ~~Philippine~~global ~~marketplace. They~~markets ~~also~~to ~~have~~assist ~~business~~us ~~activities~~to inlaunch ~~the~~our ~~Middle~~commercialization ~~East, in particular, in Dubai, such that discussions~~ and ~~negotiations~~market ~~with~~entry ~~this~~strategies ~~organization have included the potential~~ for ~~future working activities in such markets as well. Additionally~~ the ~~Company~~proprietary ~~began~~technologies ~~discussions~~ with ~~one of~~ the ~~largest~~goal ~~Power (utility) companies in the Philippines as to the same style~~ of ~~relationship~~establishing ~~for~~multiple ~~the~~pilot ~~Country,~~project ~~whereby~~sites ~~they would provide their infrastructure and resources to the sales, application, deployment and service~~ for the ~~Mammoth~~different ~~product line, with the Company providing them the equipment and design consultation~~technologies. ~~The power provider is placing particular emphasis on the geothermal technology (most specifically targeting cooling and water heating).~~

~~The Company believes these on-going negotiations could result in a formalized working relationship being announced in Q1/Q2 of the next fiscal year.~~12

~~Throughout~~As ~~the~~it ~~remainder~~relates ofto the ~~fiscal~~Mammoth ~~year,~~product ~~the~~line ~~Company~~during ~~intends~~the toquarter ~~continue~~we tohave ~~develop~~had ~~the~~contact ~~relationships made~~ and ~~the~~dialogue ~~ensuing~~with ~~associated~~various ~~project~~potential ~~and~~ business ~~opportunities~~relationships in ~~both~~the ~~current~~Philippines, ~~and~~India, ~~new~~Thailand, ~~target~~Dubai, ~~markets throughout the Asian~~ and ~~Middle-Eastern~~Mainland ~~marketplaces~~China.

During the quarter was have continued to:

• offer high quality competitively priced HVAC equipment primarily for commercial and institutional project applications;

• provide a comprehensive range of environmental project and design consultative services;

• by continuing with the on-going research and development of innovative and disruptive technology solutions

The Company believes these overall on-going negotiations could result in formalized working relationships being announced in Q3/Q4 of this fiscal year.

Results of Operations

Comparison of the Three ~~and Nine~~ Months Ended ~~July~~January 31, ~~2014~~2015, ~~with the Three and Nine Months Ended July 31, 2013~~

Wewith ~~had no gross revenue for~~ the ~~three~~Three ~~and~~Months ~~nine~~Ended ~~month~~January ~~periods ended July~~ 31, 2014 ~~and 2013.~~

~~Our~~We ~~general~~had ~~and~~no ~~administrative~~gross ~~expenses~~revenue ~~from continuing operations~~ for the three ~~and nine months ended July 31, 2014, were $58,433 and $176,447, respectively, as compared to $131,635 and $278,965 for the comparable three and nine~~ month periods ended ~~July~~January 31, ~~2013.~~2015 ~~The~~and ~~cumulative decrease for the nine months is primarily due to a reduction in consulting services~~2014.

~~Overall,~~Our wegeneral ~~have~~and aadministrative ~~net~~expenses ~~loss~~from ofcontinuing ~~$64,818~~operations ~~and $195,424,~~ for the three ~~and nine~~ months ended ~~July~~January 31, ~~2014~~2015, were $36,901 as compared to a$44,187 ~~net~~for ~~loss~~the ofcomparable ~~$138,020~~three ~~and~~month ~~$297~~period ended January 31,~~993~~ in2014. ~~the~~The ~~corresponding~~decrease for the three ~~and~~months ~~nine~~is ~~month~~primarily ~~periods~~due ofto ~~the~~a ~~preceding~~reduction ~~year~~in consulting services.

Overall, we have a net loss of $43,286, for the three months ended January 31, 2015, as compared to a net loss of $50,572 in the corresponding three month period of the preceding year.

Liquidity and Capital Resources

As of ~~July~~January 31, ~~2014~~2015, our current assets were $9840,572, as compared to $~~82,424~~134 at October 31, ~~2013~~2014. As of ~~July~~January 31, ~~2014~~2015, our current liabilities were $1,~~096~~231,~~839~~370, as compared to $1,~~006~~147,~~241~~646 at October 31, ~~2013~~2014.

Operating activities used net cash of $~~110~~17,~~625~~569 for the ~~nine~~three months ended ~~July~~January 31, ~~2014~~2015, as compared to use of $6864,~~041~~400 for the ~~nine~~three months ended ~~July~~January 31, ~~2013~~2014.

Net cash of $2858,~~299~~007 was provided by financing activities during the ~~nine~~three months ended ~~July~~January 31, ~~2014~~2015, as compared to $9013,~~440~~807 net cash ~~provided~~used by financing activities during the comparable ~~nine~~three months ended ~~July~~January 31, ~~2013~~2014.

Our current balances of cash will not meet our working capital and capital expenditure needs for the whole of the current year. Because we are not currently generating sufficient cash to fund our operations, we will need to rely on external financing to meet future capital and operating requirements. Any projections of future cash needs and cash flows are subject to substantial uncertainty. Our capital requirements depend upon several factors, including the rate of market acceptance, our ability to get to production and generate revenues, our level of expenditures for production, marketing, and sales, purchases of equipment, and other factors. We can make no assurance that financing will be available in amounts or on terms acceptable to us, if at all. Further, if we issue equity securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences, or privileges senior to those of existing holders of common stock, and debt financing, if available, may involve restrictive covenants that could restrict our operations or finances. If we cannot raise funds, when needed, on acceptable terms, we may not be able to continue our operations, grow market share, take advantage of future opportunities, or respond to competitive pressures or unanticipated requirements, all of which could negatively impact our business, operating results, and financial condition.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, such as this quarterly report, is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officers (our “Certifying Officers”) , as appropriate, to allow timely decisions regarding required disclosure. Our management evaluated, with the participation of our Certifying Officers, the effectiveness of our disclosure controls and procedures as of ~~July~~January 31, ~~2014~~2015, pursuant to Rule 13a-15(b) under the Exchange Act. Based upon that evaluation, our Certifying Officers concluded that, as of ~~July~~January 31, ~~2014~~2015, our disclosure controls and procedures were not effective.

There have been no changes in our internal control over financial reporting that occurred during the quarter ended ~~July~~January 31, ~~2014~~2015, that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

PART II—OTHER INFORMATION

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Onnot ~~May 31, 2014 we issued 900,000 shares of common stock for cash proceeds of $22,500. These shares were issued.~~applicable

In the above issuance, no general solicitation was used and the transaction was negotiated directly with our executive officer. The recipient of the common stock represented in writing that they were not a resident of the United States, acknowledged that the securities constituted restricted securities, and consented to a restrictive legend on the certificate to be issued. These transaction was made in reliance on Regulation S.

ITEM 5. OTHER EVENTS

Not applicable

ITEM 6. EXHIBITS

The following exhibits are filed as a part of this report:

Exhibit Number*	Title of Document	Location

Item 31	Rule 13a-14(a)/15d-14(a) Certifications
31.01	Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rule 13a-14	Attached

Item 32	Section 1350 Certifications
32.01	Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer) and (Chief Financial Officer)	Attached

Item 101	Interactive Data File
101	Interactive Data File	Attached

_______________

*	All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document.

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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.

	Registrant
	ESSENTIAL INNOVATIONS TECHNOLOGY CORP.
	ESSENTIAL INNOVATIONS TECHNOLOGY CORP.
Date: March 11, 2015	By:	/s/ JASONMCDIARMID
Date: September 15, 2014	By:	/s/ JASONMCDIARMID
		Jason McDiarmid
		Jason McDiarmid
		President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director
		President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

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