U.S. Securities and Exchange Commission

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934

For the Quarterly Period Ended ~~June~~September 30, 2010

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934

For the Transition Period From ____to _____

Commission File Number

333-153589

EXERCISE FOR LIFE SYSTEMS, INC.

North Carolina	22-3464709
(State or other jurisdiction of	(IRS Employer identification No.)
incorporation or organization)

http://www.e4lifeonline.com/

Adam Slazer

Chief Executive Officer

East Field Road, Suite 200-311

Huntersville, NC 28078

Telephone No.: 704-778-1700

(Name, Address and Telephone Number

of Principal Executive Offices and Agent for Service)

Indicate by check mark if the registrant is a well-know seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes [ ] No [x]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act

Yes [ ] No [x]

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 during the past 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.

[ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, 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 such shorter period that the registrant was required to submit and post such files).

[ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 if Regulation S-K (229.405 of this Chapter) is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy of information statements incorporated by reference in Part III of this Form 10-K or any amendments to this Form 10-K.

[ ]

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	¨
Non-accelerated filer	¨ (Do not check if a smaller reporting company)
Accelerated filer	¨
Smaller reporting company	X

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the exchange act).

Yes [ ] No [X]

The Registrant’s revenues for its ~~six~~nine months ended ~~June~~September 30, 2010 were $2832,~~523~~801.

Number of shares of common stock, par value $.0001, outstanding as of ~~August~~November 1317, 2010: 11,527,050

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

The discussion contained in this 10-Q under the Securities Exchange Act of 1934, as amended, contains forward-looking statements that involve risks and uncertainties. The issuer's actual results could differ significantly from those discussed herein. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "the Company believes," "management believes" and similar language, including those set forth in the discussions under "Notes to Financial Statements" and "Management's Discussion and Analysis or Plan of Operation" as well as those discussed elsewhere in this Form 10-Q. We base our forward-looking statements on information currently available to us, and we assume no obligation to update them. Statements contained in this Form 10-Q that are not historical facts are forward-looking statements that are subject to the "safe harbor" created by the Private Securities Litigation Reform Act of 1995.

INDEX TO FORM 10-Q

		Page No.
PART I	Page No.
PART I
Item 1. Financial Statements	3
Item 1. Financial Statements			3
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	12
Item 2. Management's Discussion and Analysis of Financial Condition And Results of Operations			11
Item 3. Quantitative and Qualitative Disclosures About Market Risk	14
Item 3. Quantitative and Qualitative Disclosures About Market Risk			13
Item 4. Controls and Procedures	14
Item 4. Controls and Procedures			13
Item 4T. Controls and Procedures	14
Item 4T. Controls and Procedures			13
PART II
PART II
Item 1. Legal Proceedings	15
Item 1. Legal Proceedings			14
Item 1A. Risk Factors	15
Item 1A. Risk Factors			14
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	15
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			14
Item 3. Defaults Upon Senior Securities	15
Item 3. Defaults Upon Senior Securities			14
Item 4. Removed and Reserved	15
Item 4. Submission of Matters to a Vote of Security Holders			14
Item 5. Other Information	15
Item 5. Other Information			14
Item 6. Exhibits	15
Item 6. Exhibits			14
Signatures			5

ITEM 1. FINANCIAL STATEMENTS

INDEX TO EXERCISE FOR LIFE SYSTEMS, INC. FINANCIAL STATEMENTS

EXERCISE FOR LIFE SYSTEMS, INC.	Page
Balance Sheets	4
Statements of Operations	5
Statement of Stockholders’ Equity	6
Statements of Cash Flows	7
Notes to Financial Statements	8

EXERCISE FOR LIFE SYSTEMS, INC. PAGE

Balance Sheets 4

Statements of Operations 5

Statement of Stockholders’ Deficit 6

Statements of Cash Flows 7

Notes to Financial Statements 8

EXERCISE FOR LIFE SYSTEMS, INC.
BALANCE SHEETS
AS OF JUNE 30, 2010 AND DECEMBER 31, 2009
	Unaudited			Audited
ASSETS	6/30/2010			12/31/2009
CURRENT ASSETS:
Cash	$	2,203		$	4,918
TOTAL CURRENT ASSETS		2,203			4,918
FIXED ASSETS:
Machinery and equipment		56,090			56,090
Accumulated depreciation		(50,171	)		(44,563	)
TOTAL FIXED ASSETS		5,919			11,527
TOTAL ASSETS	$	8,122		$	16,445
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable	$	25,608		$	41,407
Promissory note payable		21,000			-
TOTAL CURRENT LIABILITIES		46,608			41,407
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock ($.0001 par value, 100,000,000 shares authorized; 11,527,050 and 11,517,050 shares issued and outstanding at June 30, 2010 and December 31, 2009, respectively)		1,153			1,152
Common stock subscribed but not yet issued (-0- and 10,000 shares at June 30, 2010 and December 31, 2009, respectively)		-			1
Additional paid in capital		133,999			133,999
Retained deficit		(173,638	)		(160,114	)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)		(38,486	)		(24,962	)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	8,122		$	16,445

EXERCISE FOR LIFE SYSTEMS, INC.

BALANCE SHEETS

AS OF SEPTEMBER 30, 2010 AND DECEMBER 31, 2009



	Unaudited			Audited
ASSETS	9/30/2010			12/31/2009

CURRENT ASSETS:
Cash	$	27		$	4,918
TOTAL CURRENT ASSETS		27			4,918

FIXED ASSETS:
Machinery and equipment		56,090			56,090
Accumulated depreciation		(52,975	)		(44,563	)
TOTAL FIXED ASSETS		3,115			11,527

TOTAL ASSETS	$	3,142		$	16,445

LIABILITIES AND STOCKHOLDERS' (DEFICIT)

CURRENT LIABILITIES
Accounts payable	$	28,500		$	41,407
Promissory note payable		21,000			-
TOTAL CURRENT LIABILITIES		49,500			41,407

STOCKHOLDERS' (DEFICIT)
Common stock ($.0001 par value, 100,000,000 shares authorized; 11,527,050 and 11,517,050 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively)		1,153			1,152
Common stock subscribed but not yet issued (-0- and 10,000 shares at September 30, 2010 and December 31, 2009, respectively)		-			1
Additional paid in capital		133,999			133,999
Retained deficit		(181,510	)		(160,114	)
TOTAL STOCKHOLDERS' (DEFICIT)		(46,358	)		(24,962	)

TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)	$	3,142		$	16,445

The accompanying notes are an integral part of these financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(Unaudited)	For The Three Months						For The Six Months
	Ended June 30,						Ended June 30,
	2010			2009			2010			2009
REVENUES:
Sales	$	16,291		$	11,047		$	28,523		$	19,996
Cost of sales		(3,083	)		(1,997	)		(5,852	)		(4,018	)
Gross profit		13,208			9,050			22,671			15,978
EXPENSES:
Selling, general and administrative expenses		16,983			13,958			36,195			31,269
Total expenses		16,983			13,958			36,195			31,269
(Loss) from operations	$	(3,775	)	$	(4,908	)	$	(13,524	)	$	(15,291	)
Provision for income taxes		-			-			-			-
NET (LOSS)	$	(3,775	)	$	(4,908	)	$	(13,524	)	$	(15,291	)
Basic and fully diluted net loss per common share:	$	*		$	*		$	*		$	*
Weighted average common shares outstanding		11,527,050			11,527,050			11,527,050			11,522,050
* less than $.01 per share.

EXERCISE FOR LIFE SYSTEMS, INC.

STATEMENTS OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009 (UNAUDITED)

(Unaudited)	For The Three Months						For The Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
REVENUES:
Sales	$	12,849		$	5,583		$	41,372		$	25,579
Cost of sales		(2,719	)		(1,172	)		(8,571	)		(5,190	)
Gross profit		10,130			4,411			32,801			20,389

EXPENSES:
Selling, general and administrative expenses		18,002			12,359			54,197			43,628
Total expenses		18,002			12,359			54,197			43,628

(Loss) from operations	$	(7,872	)	$	(7,948	)	$	(21,396	)	$	(23,239	)

Provision for income taxes		-			-			-			-

NET (LOSS)	$	(7,872	)	$	(7,948	)	$	(21,396	)	$	(23,239	)

Basic and fully diluted net loss per common share:	$	*		$	*		$	*		$	*

Weighted average common shares outstanding		11,527,050			11,527,050			11,527,050			11,522,050

* less than $.01 per share.

The accompanying notes are an integral part of these financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.
STATEMENT OF STOCKHOLDERS' EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 2010
(Unaudited)					Common			Common
					Stock			Stock
					Subscribed			Subscribed			Additional
	Common Stock				Not Issued			Not Issued			Paid-in		Retained
	Shares		Amount		Shares			Amount			Capital		(Deficit)
Balances, December 31, 2009		11,517,050	$	1,152		10,000		$	1		$	133,999	$	(160,114	)
Issuance of shares previously subscribed		10,000	$	1		(10,000	)	$	(1	)		-		-
Net loss for the six months ended June 30, 2010		-		-		-			-			-		(13,524	)
Balances, June 30, 2010		11,527,050	$	1,153		-		$	-		$	133,999	$	(173,638	)

EXERCISE FOR LIFE SYSTEMS, INC.

STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 (UNAUDITED)


(Unaudited)					Common			Common
					Stock			Stock
					Subscribed			Subscribed			Additional
	Common Stock				Not Issued			Not Issued			Paid-in		Retained
	Shares		Amount		Shares			Amount			Capital		(Deficit)

Balances, December 31, 2009		11,517,050	$	1,152		10,000		$	1		$	133,999	$	(160,114	)

Issuance of shares previously subscribed		10,000	$	1		(10,000	)	$	(1	)		-		-

Net loss for the nine months ended September 30, 2010		-		-		-			-			-		(21,396	)

Balances, September 30, 2010		11,527,050	$	1,153		-		$	-		$	133,999	$	(181,510	)

The accompanying notes are an integral part of these financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.
STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2010 and 2009
	(Unaudited)			(Unaudited)
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$	(13,524	)	$	(15,291	)
Adjustments to reconcile net (loss) to net cash provided by (used in) operations:
Depreciation		5,608			5,608
Increase (decrease) in operating liabilities:
Accounts payable		5,201			10,419
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		(2,715	)		736
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(2,715	)		736
CASH AND CASH EQUIVALENTS,
BEGINNING OF THE PERIOD		4,918			1,895
END OF THE PERIOD	$	2,203		$	2,631
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES:
Conversion of accounts payable to notes payable for consulting services	$	21,000		$	-

EXERCISE FOR LIFE SYSTEMS, INC.

STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009 (UNAUDITED)


	(Unaudited)			(Unaudited)
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$	(21,396	)	$	(23,239	)
Adjustments to reconcile net (loss) to net cash provided by (used in) operations:
Depreciation		8,412			8,412
Increase (decrease) in operating liabilities:
Accounts payable		8,093			25,995
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		(4,891	)		11,168

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(4,891	)		11,168

CASH AND CASH EQUIVALENTS,
BEGINNING OF THE PERIOD		4,918			1,895

END OF THE PERIOD	$	27		$	13,063

SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES:

Conversion of accounts payable to notes payable for consulting services	$	21,000		$	-

The accompanying notes are an integral part of these financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS

~~FOR~~For ~~THE SIX~~the ~~MONTHS~~Nine ~~ENDED~~Months ~~JUNE~~Ended September 30, 2010 ~~(UNAUDITED)~~and 2009

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business Activity

Exercise For Life Systems, Inc., (the “Company”) offers personal fitness training services and products and is located in the Charlotte, North Carolina area. The Company was incorporated in the State of North Carolina on September 27, 2006.

On June 9, 2008, the Company filed an amendment to the Articles of Incorporation with the Secretary of State of North Carolina to change its corporate name to Exercise For Life Systems, Inc. (FKA A.J. Glaser, Inc.). This amendment also changed the par value of the common stock from $1 per share to $.0001 per share and increased the authorized common shares from 100 shares to 100,000,000 shares.

Basis of Presentation

The financial statements include the accounts of Exercise For Life Systems, Inc. under the accrual basis of accounting.

Management’s Use of Estimates

The preparation of 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Income Taxes

~~Income taxes~~The ~~are~~Company ~~provided~~accounts infor ~~accordance~~income ~~with~~taxes ~~Statement~~under Section 740-10-30 of ~~Financial~~the FASB Accounting Standards NoCodification. Deferred ~~109~~income ~~(SFAS~~tax Noassets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred ~~109),~~tax ~~“Accounting~~assets ~~for~~are ~~Income Taxes~~reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized.” Deferred Atax ~~deferred~~assets and liabilities are measured using enacted tax ~~asset~~rates orexpected ~~liability~~to isapply ~~recorded~~to ~~for~~taxable ~~all~~income in the years in which those temporary differences ~~between~~are ~~financial~~expected ~~and~~to be recovered or settled. The effect on deferred tax ~~reporting~~assets and ~~net~~liabilities ~~operating~~of ~~loss-carry forwards~~a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that, some portion or all of the deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted for the effect of changes in tax laws and rates on the date of enactment.

Fair Value of Financial Instruments

The Company’s financial instruments are cash and accounts payable. The recorded values of cash and payables approximate their fair values based on their short-term nature.

Comprehensive Income (Loss) - The Company adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 130, “Reporting Comprehensive Income”, which establishes standards for the reporting and display of comprehensive income and its components in the consolidated financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the consolidated financial statements.

Loss Per Share - ~~The Company~~Net ~~reports~~ loss per common share inis ~~accordance~~computed ~~with~~pursuant ~~Statement~~to ofsection ~~Financial Accounting~~260-10-45 ~~Standard (SFAS) No.128. This statement requires dual presentation~~ of ~~basic~~ ~~and~~the ~~diluted~~FASB ~~earnings~~Accounting ~~(loss)~~Standards ~~with~~Codification. aBasic ~~reconciliation~~net ~~of the numerator and denominator of the~~ loss per share ~~computations.~~is ~~Basic~~computed ~~earnings~~by ~~per~~dividing ~~share~~net ~~amounts are~~loss ~~based~~by on the weighted average ~~shares~~number of ~~common~~shares ~~outstanding. If applicable, diluted earnings per share would assume the conversion, exercise or issuance~~ of ~~all~~ ~~potential~~ common stock ~~instruments~~outstanding ~~such~~during asthe ~~options,~~period. Diluted ~~warrants~~net ~~and~~loss ~~convertible securities,~~per ~~unless~~share ~~the effect~~ is tocomputed ~~reduce~~by adividing net loss orby ~~increase~~the ~~earnings~~weighted ~~per share.~~average ~~There~~number ~~were~~of noshares ~~adjustments~~of ~~required~~common tostock ~~net~~and ~~loss~~potentially ~~for~~outstanding ~~the~~shares ~~period presented in the computation~~ of ~~diluted~~common ~~earnings~~stock ~~per~~during ~~share.~~each period. There were no ~~common~~potentially ~~stock equivalents~~dilutive ~~necessary~~shares ~~for~~outstanding ~~the~~as ~~computation~~ of ~~diluted~~September ~~loss~~30, ~~per share~~2010.

Long-Lived Assets - In ~~accordance~~The ~~with~~Company ~~SFAS~~evaluates ~~No.~~the ~~144,~~recoverability ~~the~~of ~~Company~~its ~~reviews~~fixed assets and ~~evaluates~~other ~~its long-lived~~ assets ~~for~~in ~~impairment~~accordance ~~whenever~~with ~~events~~section or360-10-15 ~~changes~~of inthe ~~circumstances indicate~~FASB ~~that~~Accounting ~~their~~Standards ~~net~~Codification ~~book~~for ~~value~~disclosures ~~may~~about ~~not~~Impairment beor ~~recoverable~~Disposal of Long-Lived Assets. Disclosure ~~When~~requires ~~such~~recognition ~~factors~~of ~~and circumstances~~impairment ~~exist,~~of ~~including~~long-lived ~~those~~assets ~~noted~~in ~~above,~~the event the ~~Company~~net ~~compares~~book ~~the assets’~~value ~~carrying~~of ~~amounts~~such ~~against~~assets ~~the~~exceeds ~~estimated~~its ~~undiscounted~~expected cash flows. If so, it is considered to be ~~generated~~ byimpaired ~~those~~and ~~assets~~is ~~over~~written ~~their~~down ~~estimated~~to ~~useful~~fair ~~lives.~~value, Ifwhich ~~the~~is ~~carrying amounts~~determined ~~are~~based ~~greater~~on ~~than~~either ~~the~~discounted ~~undiscounted~~future cash flows, ~~the~~or ~~fair~~appraised values. ofThe ~~those assets~~Company ~~are~~adopted ~~estimated by discounting~~ the ~~projected~~statement ~~cash~~on ~~flows~~inception. ~~Any~~No ~~excess~~impairments of ~~the carrying~~these ~~amounts~~types ~~over~~of ~~the~~assets ~~fair~~were ~~values~~recognized ~~are~~during ~~recorded~~the asperiod ~~impairments~~ended inSeptember ~~that~~30, ~~fiscal period~~2010.

Property and Equipment - Property and equipment is stated at cost. Depreciation is provided by the straight-line method over the estimated economic life of the property and equipment remaining from five to seven years.

When assets are sold or retired, their costs and accumulated deprecation are eliminated from the accounts and any gain or loss resulting from their disposal is included in the statement of operations.

The Company recognizes an impairment loss on property and equipment when evidence, such as the sum of expected future cash flows (undiscounted and without interest charges), indicates that future operations will not produce sufficient revenue to cover the related future costs, including depreciation, and when the carrying amount of the asset cannot be realized through sale. Measurement of the impairment loss is based on the fair value of the assets.

Revenue Recognition – Revenue is recognized when fitness training services are completed provided collection from the client of the resulting receivable is probable. Revenue from product sales is recognized when the products are shipped.

Risk and Uncertainties - The Company is subject to risks common to companies in the service industry, including, but not limited to, litigation, development of new technological innovations and dependence on key personnel.

Cash and Cash Equivalents - For purposes of the Statements of Cash Flows, the Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents.

EXERCISE FOR LIFE SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS

~~FOR~~For ~~THE SIX~~the ~~MONTHS~~Nine ~~ENDED~~Months ~~JUNE~~Ended September 30, 2010 ~~(UNAUDITED)~~and 2009

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

~~Share-Based~~Revenue ~~Payments~~Recognition ~~- The~~– ~~Company~~Revenue ~~accounts~~is ~~for~~recognized ~~share-based~~when ~~compensation~~fitness ~~using~~training ~~the fair value method of Financial Accounting Standard No. 123R. Common shares issued for~~ services ~~rendered~~are bycompleted aprovided ~~third~~collection ~~party~~from ~~(both employees and non-employees) are recorded at~~ the ~~fair~~client ~~value~~ of the ~~shares~~resulting ~~issued~~receivable ~~or services rendered, whichever~~ is ~~more readily determinable~~probable. ~~The~~Revenue ~~Company~~from ~~accounts~~product ~~for~~sales ~~options~~is ~~and~~recognized ~~warrants under~~when the ~~same~~products ~~authoritative~~are ~~guidance using the Black-Scholes Option Pricing Model~~shipped.

Cash and Cash Equivalents - For purposes of the Statements of Cash Flows, the Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents.

Stock Based Transactions—The Company acquires nonmonetary assets including goods for its common stock. The goods are recorded at the fair value of the nonmonetary asset exchanged or at an independent quoted market price for items exchanged.

The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

Advertising Costs - Advertising costs are expensed as incurred. The Company does not incur any direct-response advertising costs.

Recent Accounting Pronouncements - The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

FASB Accounting Standards Codification

(Accounting Standards Update (“ASU”) 2009-01)

In June 2009, FASB approved the FASB Accounting Standards Codification (“the Codification”) as the single source of authoritative nongovernmental GAAP. All existing accounting standard documents, such as FASB, American Institute of Certified Public Accountants, Emerging Issues Task Force and other related literature, excluding guidance from the Securities and Exchange Commission (“SEC”), have been superseded by the Codification. All other non-grandfathered, non-SEC accounting literature not included in the Codification has become nonauthoritative. The Codification did not change GAAP, but instead introduced a new structure that combines all authoritative standards into a comprehensive, topically organized online database. The Codification is effective for interim or annual periods ending after September 15, 2009, and impacts the Company’s consolidated financial statements as all future references to authoritative accounting literature will be referenced in accordance with the Codification. There have been no changes to the content of the Company’s financial statements or disclosures as a result of implementing the Codification during the quarter ended June 30, 2010.

Recent Accounting Pronouncements (cont.) - The Codification did not change GAAP, but instead introduced a new structure that combines all authoritative standards into a comprehensive, topically organized online database. The Codification is effective for interim or annual periods ending after September 15, 2009, and impacts the Company’s consolidated financial statements as all future references to authoritative accounting literature will be referenced in accordance with the Codification. There have been no changes to the content of the Company’s financial statements or disclosures as a result of implementing the Codification during the quarter ended September 30, 2010.

As a result of the Company’s implementation of the Codification during the fiscal year ended December 31, 2009, previous references to new accounting standards and literature are no longer applicable. In the current annual consolidated financial statements, the Company will provide reference to both new and old guidance to assist in understanding the impacts of recently adopted accounting literature, particularly for guidance adopted since the beginning of the current fiscal year but prior to the Codification.

Subsequent Events

(Included in Accounting Standards Codification (“ASC”) 855 “Subsequent Events”, previously SFAS No. 165 “Subsequent Events”)

SFAS No. 165 established general standards of accounting for and disclosure of events that occur after the balance sheet date, but before the consolidated financial statements are issued or available to be issued (“subsequent events”). An entity is required to disclose the date through which subsequent events have been evaluated and the basis for that date. For public entities, this is the date the consolidated financial statements are issued. SFAS No. 165 does not apply to subsequent events or transactions that are within the scope of other GAAP and did not result in significant changes in the subsequent events reported by the Company. SFAS No. 165 became effective for interim or annual periods ending after June 15, 2009 and did not impact the Company’s consolidated financial statements. The Company evaluated for subsequent events through the issuance date of the Company’s consolidated financial statements. No recognized or non-recognized subsequent events were noted.

Recent Accounting Pronouncements (cont.) -- statements are issued. SFAS No. 165 does not apply to subsequent events or transactions that are within the scope of other GAAP and did not result in significant changes in the subsequent events reported by the Company. SFAS No. 165 became effective for interim or annual periods ending after June 15, 2009 and did not impact the Company’s consolidated financial statements. The Company evaluated for subsequent events through the issuance date of the Company’s consolidated financial statements. No recognized or non-recognized subsequent events were noted.

Determination of the Useful Life of Intangible Assets

(Included in ASC 350 “Intangibles — Goodwill and Other”, previously FSP SFAS No. 142-3 “Determination of the Useful Lives of Intangible Assets”)

FSP SFAS No. 142-3 amended the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible asset under previously issued goodwill and intangible assets topics. This change was intended to improve the consistency between the useful life of a recognized intangible asset and the period of expected cash flows used to measure the fair value of the asset under topics related to business combinations and other GAAP. The requirement for determining useful lives must be applied prospectively to intangible assets acquired after the effective date and the disclosure requirements must be applied prospectively to all intangible assets recognized as of, and subsequent to, the effective date. FSP SFAS No. 142-3 became effective for consolidated financial statements issued for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years. The adoption of FSP SFAS No. 142-3 did not impact the Company’s consolidated financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS

For the Nine Months Ended September 30, 2010 and 2009

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recent Accounting Pronouncements (cont.) – The requirement for determining useful lives must be applied prospectively to intangible assets acquired after the effective date and the disclosure requirements must be applied prospectively to all intangible assets recognized as of, and subsequent to, the effective date. FSP SFAS No. 142-3 became effective for consolidated financial statements issued for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years. The adoption of FSP SFAS No. 142-3 did not impact the Company’s consolidated financial statements.

Noncontrolling Interests

(Included in ASC 810 “Consolidation”, previously SFAS No. 160 “Noncontrolling Interests in Consolidated Financial Statements an amendment of ARB No. 51”)

SFAS No. 160 changed the accounting and reporting for minority interests such that they will be recharacterized as noncontrolling interests and classified as a component of equity. SFAS No. 160 became effective for fiscal years beginning after December 15, 2008 with early application prohibited. The Company implemented SFAS No. 160 at the start of fiscal 2009 and no longer records an intangible asset when the purchase price of a noncontrolling interest exceeds the book value at the time of buyout. The adoption of SFAS No. 160 did not have any other material impact on the Company’s financial statements.

Consolidation of Variable Interest Entities — Amended

(To be included in ASC 810 “Consolidation”, SFAS No. 167 “Amendments to FASB Interpretation No. 46(R)”)

SFAS No. 167 amends FASB Interpretation No. 46(R) “Consolidation of Variable Interest Entities regarding certain guidance for determining whether an entity is a variable interest entity and modifies the methods allowed for determining the primary beneficiary of a variable interest entity. The amendments include: (1) the elimination of the exemption for qualifying special purpose entities, (2) a new approach for determining who should consolidate a variable-interest entity, and (3) changes to when it is necessary to reassess who should consolidate a variable-interest entity. SFAS No. 167 is effective for the first annual reporting period beginning after November 15, 2009, with earlier adoption prohibited. The Company will adopt SFAS No. 167 in fiscal 2010 and does not anticipate any material impact on the Company’s financial statements.

EXERCISE FOR LIFE SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2010 (UNAUDITED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recent Accounting Pronouncements (cont.) – been evaluated and the basis for that date. For public entities, this is the date the consolidated financial reassess that should consolidate a variable-interest entity. SFAS No. 167 is effective for the first annual reporting period beginning after November 15, 2009, with earlier adoption prohibited. The Company will adopt SFAS No. 167 in fiscal 2010 and does not anticipate any material impact on the Company’s financial statements.

NOTE 2 INCOME TAXES

At ~~June~~ September 30, 2010 the Company had federal and state net operating loss carry forwards of approximately $6270,000 that expire in various years through the year 2023.

Due to operating losses, there is no provision for current federal or state income taxes for the three and ~~six~~nine months ended ~~June~~September 30, 2010 and 2009.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal and state income tax purposes.

The Company’s deferred tax asset at ~~June~~September 30, 2010 consists of net operating loss carry forwards calculated using federal and state effective tax rates equating to approximately $2428,000 less a valuation allowance in the amount of approximately $2428,000. Because of the Company’s lack of earnings history, the deferred tax asset has been fully offset by a valuation allowance. The valuation allowance increased by approximately $48,000 for the ~~six~~nine months ended ~~June~~September 30, 2010.

The Company’s total deferred tax asset as of ~~June~~September 30, 2010 is as follows:

Net operating loss carry forwards $ 2428,000

Valuation allowance (2428,000)

Net deferred tax asset $ --

=======

The reconciliation of income taxes computed at the federal and state statutory income tax rate to total income taxes for the three and ~~six~~nine months ended ~~June~~ September 30, 2010 and 2009 is as follows:

Income tax computed at the federal statutory rate 34%

Income tax computed at the state statutory rate 6%

Valuation allowance (40%)

Total deferred tax asset 0%

NOTE 3 CAPITAL STOCK

The Company is authorized to issue 100,000,000 common shares at $.0001 par value per share.

NOTE 4 INCOME (LOSS) PER SHARE

Income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Basic and diluted loss per share was the same for the three and ~~six~~nine months ended ~~June~~September 30, 2010 and 2009.

NOTE 5 LEASE COMMITMENTS AND RELATED PARTY TRANSACTIONS

The Company has an oral, month-to-month lease with its President. The lease is gratuitous and consists of approximately 100 square feet of office space. The effects of the fair value of rent of its headquarters that is provided by a related party are immaterial to the financial statements taken as a whole.

EXERCISE FOR LIFE SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS

For the Nine Months Ended September 30, 2010 and 2009

NOTE 6 SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental disclosures of cash flow information for the ~~six~~nine months ended ~~June~~September 30, 2010 and 2009 are summarized as follows:

Cash paid during the period for interest and income taxes:

2010 2009

Income Taxes $ -- $ --

Interest $ -- $ --

NOTE 7 GOING CONCERN AND UNCERTAINTY

The Company has suffered a loss from operations in the ~~six~~nine months ended ~~June~~September 30, 2010. In addition, the Company has generated a negative internal cash flow from its business operations in ~~three~~nine ~~and six~~ months ended ~~June~~September 30, 2010 and has negative working capital at ~~June~~September 30, 2010. These factors raise substantial doubt as to the ability of the Company to continue as a going concern.

Management’s plans with regard to these matters encompass the following actions: 1) obtain funding from new investors to alleviate the Company’s working deficiency, and 2) implement a plan to increase sales. The Company’s continued existence is dependent upon its ability to resolve it liquidity problems and increase profitability in its current business operations. However, the outcome of management’s plans cannot be ascertained with any degree of certainty. The accompanying financial statements do not include any adjustments that might result from the outcome of these risks and uncertainties.

Due to business souring and cash at low levels, management has elected to search for acquisition candidates to enhance value to its shareholders.

NOTE 8 PROMISSORY NOTE PAYABLE

The Company has an unsecured promissory note payable to an unrelated consulting service provider bearing annual interest of 10.00% as of ~~June~~September 30, 2010 The note consists of one balloon payment of principal of $21,000 and interest of $1,050 with principal maturity in August, 2010.

Principal maturities of the note payable as of ~~June~~September 30, 2010 for the next five years and thereafter are as follows:

2010 $ 21,000

Thereafter $ -0-

Total $ 21,000

========

1011

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF ~~OPERAT ION~~OPERATION

Management’s Discussion and Analysis contains various “forward looking statements” within regarding future events or the future financial performance of the Company that involve risks and uncertainties. Certain statements included in this 10-Q, including, without limitation, statements related to anticipated cash flow sources and uses, and words including but not limited to “anticipates”, “believes”, “plans”, “expects”, “future” and similar statements or expressions, identify forward looking statements. Any forward-looking statements herein are subject to certain risks and uncertainties in the Company’s business, including but not limited to, reliance on key customers and competition in its markets, market demand, product performance, technological developments, maintenance of relationships with key suppliers, difficulties of hiring or retaining key personnel and any changes in current accounting rules, all of which may be beyond the control of the Company. Management will elect additional changes to revenue recognition to comply with the most conservative SEC recognition on a forward going accrual basis as the model is replicated with other similar markets (i.e. SBDC). The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth therein.

Management’s Discussion and Analysis of Results of Financial Condition and Results of Operations (“MD&A”) should be read in conjunction with the financial statements included herein.

BUSINESS MODEL

Exercise for Life Systems, Inc.’s primary focus is to improve operating margins and cash flows from the Company’s existing profit center of personal fitness training, as well as provide value added health and fitness services and to continue helping clients achieve their health and wellness goals. The Exercise for Life Systems, Inc. product line seeks to provide a unique platform for the delivery of value-added services to its fitness, wellness and weight loss-conscious clients.

We plan to integrate personal training, nutrition advice, and our weight management program into our core fitness training operations to position ourselves as the total source for most of our clients’ wellness and fitness needs. Our target market includes, but is not limited to 18- to 64-year olds. This expansion over our prior target market of 18- to 34-year olds is due to the increased awareness of health and physical fitness among 35- to 64-year olds. Currently, our clients range in age from approximately 12 to 91, reflecting our many years in business and our diverse client base. Our industry experience has allowed us to identify target markets that will be receptive to our proprietary products and services.

Our products and services include personal training services with professionally certified personal trainers, supplements which are scientifically advanced formulas designed to give the body the maximum benefit from vitamins and minerals, a nutrition and weight management program, and fitness assessments. We are headquartered in Cornelius, North Carolina, and we seek to enhance stockholder value by building brand awareness and recognition of our products and services as well as by opening new facilities.

PLAN OF OPERATION

We plan to raise additional funds through project debt financings or through future sales of our common stock, until such time as our revenues are sufficient to meet our cost structure, and ultimately achieve profitable operations. There is no assurance that we will be successful in raising additional capital or achieving profitable operations. Our financial statements do not include any adjustments that might result from the outcome of these uncertainties. We will need financing within 12 months to execute our business plan.

For the next 12 months, our Plan of Operations is as follows:

Increase revenue through continued addition of new clients and through improved retention of new and existing clients. We offer prospective clients the ability to choose the billing type, amenities and pricing structure they prefer. Prospective clients may choose between our services paid in contract which is discounted or pay as you go, the later of which is more popular. These options are presented in a simplified sales process, giving prospective clients important choices around the term, enrollment fee level and individual training payment amount. We believe our training type offerings align with the “consumer choice” mandate prevalent in the retail marketplace. We also believe the choices we offer are an important competitive differentiator in our market space. Our focus is on improving retention rates through new and more focused initiatives to fully engage new clients in the full range of our wellness offerings (for example, nutrition programs and nutrition products, weight loss and weight management programs, personal training and group exercise).

Leverage our strong background in successfully helping clients attain their goals. Our services continue to receive high awareness ratings and marketing recognition from consumers. We believe that strong marketing support at the local level, with messages focused on our target (and in some cases, underserved) market segments are a key to attracting new and retaining present clients. Continuing high-focused market research is the key, we believe, to understanding our present clients and to identifying geographic markets and consumer segments that present our best opportunities to add new clients. This market research and the resulting creative concepts, selectively tested in appropriate markets, helps maximize the effectiveness of our advertising. We plan on sending a mass mailing to The Peninsula residents in order to drive new business. We identified the aging population in the community and a potential source of new business.

Grow our ancillary revenues. Our valuable client base affords us an opportunity to provide clients other value-added products and services to help them achieve their health and wellness goals and increase our revenue per client. We offer a comprehensive and extensive list of services to clients and, depending on the retail distribution channel at our fitness facility, these products and services include a potential for nutritional products; potential licensed personal exercise equipment; personal training; group specialty exercise classes; nutrition and weight management programs. We are pursuing other ways to leverage our client base with other services with the goal of mutually benefiting our clients while further increasing our revenue.

RECENT DEVELOPMENTS

We are currently developing our product and service offerings and strengthening our client relationships.

Major ongoing Tasks:

— seeking investors,

— seeking growth opportunities,

— continue with product and service development and promotion.

11RESULTS OF OPERATIONS - THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009 (UNAUDITED)

RESULTS OF OPERATIONS - THREE AND SIX MONTHS ENDED JUNE 30, 2010 AND 2009 (UNAUDITED)

Revenues

~~The Company~~We had revenues of $1612,~~291~~849 for the three months ended ~~June~~September 30, 2010 compared with $115,~~047~~583 during the three months ended ~~June~~September 30, 2009. The increase in revenue is attributable to the strengthening of the economy and customers having more disposable income, in our opinion, for our training services than last year.

~~The Company~~We had revenues of $2841,~~523~~372 for the ~~six~~nine months ended ~~June~~September 30, 2010 compared with $1925,~~996~~579 during the ~~six~~nine months ended ~~June~~September 30, 2009. The increase in revenue is attributable to the strengthening of the economy and customers having more disposable income, in our opinion, for our training services than last year.

Operating Expenses

~~The Company~~We had operating expenses of $1618,~~983~~002 for the three months ended ~~June~~September 30, 2010. Our operating expenses for the three months ended ~~June~~September 30, 2009 were $1312,~~958~~359. The increase in operating expenses includes the increase in selling, general and administrative expenses.

~~The Company~~We had operating expenses of $3654,~~195~~197 for the ~~six~~nine months ended ~~June~~September 30, 2010. Our operating expenses for the ~~six~~nine months ended ~~June~~September 30, 2009 were $3143,~~269~~628. The increase in operating expenses includes the increase in selling, general and administrative expenses.

Other Expenses

~~The Company~~We had no other expenses for the three and ~~six~~nine months ended ~~June~~September 30, 2010 and 2009.

Liquidity and Capital Resources

We had $~~2,203~~27 cash on hand ~~for~~at ~~the~~September ~~six months ended June~~ 30, 2010 compared to $4,918 ~~for~~ ~~the~~at ~~six~~December ~~months ended June 30~~31, 2009. We will be required to raise capital on an ongoing basis. In the past, we raised funds from unrelated accredited investors through private placements of common stock. In the future we will potentially need to raise capital to sustain operations through this channel.

Net cash flows provided by (used in) operating activities were $(24,~~715~~891) for the ~~six~~ nine months ended ~~June~~September 30, 2010 and net cash flows provided by operating activities were $~~736~~11,168 for the ~~six~~nine months ended ~~June~~September 30, 2009. This is primarily attributable to an increase in accounts payable of $58,~~201~~093 for the ~~six~~nine months ended ~~June~~September 30, ~~2009~~ 2010 compared to an accounts payable increase of $1025,~~419~~995 for the ~~six~~nine months ended ~~June~~September 30, 2010.

There were no cash flows from investing activities for the ~~six~~nine months ended ~~June~~September 30, 2010 and 2009.

There were no cash flows from financing activities for the ~~six~~nine months ended ~~June~~September 30, 2010 and 2009.

Overall, we have funded all of our cash needs from inception through ~~June~~September 30, 2010 with proceeds from issuance of our common stock.

Critical Accounting Policies and Estimates

The preparation of our financial statements requires us to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. A critical accounting policy is one that is both very important to the portrayal of our financial condition and results, and requires management’s most difficult, subjective or complex judgments. Typically, the circumstances that make these judgments difficult, subjective and/or complex have to do with the need to make estimates about the effect of matters that are inherently uncertain.

Off-Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors. Certain officers and directors of the Company have provided personal guarantees to our various lenders as required for the extension of credit to the Company.

Accounting Policies Subject to Estimation and Judgment

Management’s Discussion and Analysis of Financial Condition and Results of Operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. When preparing our financial statements, we make estimates and judgments that affect the reported amounts on our balance sheets and income statements, and our related disclosure about contingent assets and liabilities. We continually evaluate our estimates, including those related to revenue, allowance for doubtful accounts, reserves for income taxes, and litigation. We base our estimates on historical experience and on various other assumptions, which we believe to be reasonable in order to form the basis for making judgments about the carrying values of assets and liabilities that are not readily ascertained from other sources. Actual results may deviate from these estimates if alternative assumptions or condition are used.

12ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MAR KET RISK

The information to be reported under this item is not required of smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934 (“Exchange Act”) is recorded, processed, summarized and reported within the specified time periods. Our Chief Executive Officer and its Chief Financial Officer (collectively, the “Certifying Officers”) are responsible for maintaining our disclosure controls and procedures. The controls and procedures established by us are designed to provide reasonable assurance that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

As of the end of the period covered by this report, the Certifying Officers evaluated the effectiveness of our disclosure controls and procedures. Based on the evaluation, the Certifying Officers concluded that our disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms, and that it is accumulated and communicated to our management, including the Certifying Officers, as appropriate to allow timely decisions regarding required disclosure.

The Certifying Officers have also concluded, based on their evaluation of our controls and procedures that as of ~~June~~September 30, 2010, our internal controls over financial reporting are effective and provide a reasonable assurance of achieving their objective.

The Certifying Officers have also concluded that there was no change in our internal controls over financial reporting identified in connection with the evaluation that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 4T. CONTROLS AND PROCEDURES

(a) Conclusions regarding disclosure controls and procedures. Disclosure controls and procedures are the Company’s controls and other procedures that are designed to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files under the Exchange Act is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Management is responsible for establishing and maintaining adequate internal control over financial reporting.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-14(c) promulgated under the Exchange Act as of ~~June~~September 30, 2010, and, based on their evaluation, as of the end of such period, the our disclosure controls and procedures were effective as of the end of the period covered by the Quarterly Report,

(b) Management’s Report On Internal Control Over Financial Reporting. It is management’s responsibilities to establish and maintain adequate internal controls over the Company’s financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, the issuer’s principal executive and principal financial officers and effected by the issuer’s management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

• Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the issuer; and

• Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles and that receipts and expenditures of the issuer are being made only in accordance with authorizations of management of the issuer; and

• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the issuer’s assets that could have a material effect on the financial statements.

As of the end of the period covered by the Quarterly Report, an evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our internal control over financial reporting.

Management assessed the effectiveness of our internal control over financial reporting as of ~~June~~September 30, 2010. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework.

Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, internal controls over financial reporting were effective as of the end of the period covered by the Report.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

This Quarterly Report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit us to provide only management’s report in this Quarterly Report.

(c) Changes in internal control over financial reporting. There were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

1314

PART II. OTHER INFORMATION

ITEM 1. LEGAL ~~PROCEE DINGS~~PROCEEDINGS

As of the date of this report, we are not a party to any pending legal proceeding and are not aware of any threatened legal proceeding.

ITEM 1A. RISK FACTORS

The information to be reported under this item has not changed since the previously filed 10K, for the year ended December 31, 2009.

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

We have not had any unregistered sales of equity securities in the ~~first~~third quarter of 2010.

ITEM 3. DEFAULTS UPON SENIOR ~~SEC URITIES~~SECURITIES

We have not had any default upon senior securities.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY H ~~OLDERS~~HOLDERS

We have not had any submission of matters to a vote of security holders.

ITEM 5. OTHER ~~INFOR MATION~~INFORMATION

We do not have any other information to report.

ITEM 6. EXHIBITS

31.1 CEO Certification Pursuant to Section 302

31.2 CFO Certification Pursuant to Section 302 (included in Exhibit 31.1)

32.1 CEO Certification Pursuant to Section 906

32.2 CFO Certification Pursuant to Section 906 (included in Exhibit 32.1)

Reports on Form 8-K

Effective September 5, 2010, the client-auditor relationship between us and Traci J. Anderson, CPA (the "Former Auditor") was terminated upon the dismissal of the Former Auditor as our independent registered accounting firm. We dohave not ~~have~~ ~~any~~yet ~~Forms~~engaged ~~8-K~~another principal independent public accountant to ~~report~~audit our financial statements for the ~~quarter~~year ending December 31, 2010. The decision to change accountants was recommended and approved by the our Board of Directors, effective September 5, 2010, and was necessitated as a result of the revocation of the registration of the Former Auditors by the Public Company Accounting Oversight Board (“PCAOB”) for violations of rules and auditing standards in auditing financial statements, PCAOB rules and quality control standards.

1415

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.

	EXERCISE FOR LIFE SYSTEMS, INC. (Registrant)
Date: August 16, 2010	By:	/s/ Adam Slazer
Date: November 17, 2010	By:	/s/ Adam Slazer
		Adam Slazer President, Chief Executive Officer, and Chief Financial Officer

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