UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

(Mark One)

~~[X]~~ x ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, ~~2009~~2010

~~[ ]~~o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 333-150135

~~Nasus~~National ~~Consulting,~~Asset ~~Inc~~Recovery Corp.

(Exact Name of Registrant as Specified in its Charter)

Nevada		04-3526451
(State or other jurisdiction of incorporation)		(I.R.S. employer identification no.)

~~258~~9000 ~~Southhall~~Burma ~~Lane~~Road, Suite ~~420, Maitland, FL 32751~~103

~~(Address~~Palm ofBeach ~~principal executive offices~~Gardens, ~~including zip code)~~FL 33403

(~~512)~~Address ~~402-5822~~of principal executive offices including zip code)

(561) 932-1422

(Registrant’s telephone number, including area code)

Securities registered under Section 12(b) of the Act

NONE

Securities registered under Section 12(g) of the Act

NONE

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ~~[ ]~~o No ~~[X].~~x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes ~~[ ]~~o No~~[X]~~ x

Indicate by check mark whether the registrant (1) 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. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ~~[X]~~ o No ~~[ ]~~o

Indicate by check mark ~~whether~~if ~~the~~disclosure ~~registrant~~of ~~has~~delinquent ~~submitted~~filers ~~electronically~~pursuant ~~and~~to ~~posted~~Item on405 ~~its~~of ~~corporate~~Regulation ~~Web~~S-K ~~site,~~is ifnot ~~any~~contained herein, ~~every~~and ~~Interactive~~will ~~Data~~not ~~File required to~~ be ~~submitted~~contained, ~~and posted pursuant~~ to ~~Rule~~the ~~405~~best of ~~Regulation~~registrant’s ~~S-T~~knowledge, ~~during~~in ~~the~~definitive ~~preceding~~proxy ~~12 months (~~or ~~for~~information ~~such~~statements ~~shorter~~incorporated ~~period~~by ~~that~~reference ~~the~~in ~~registrant~~Part ~~was~~III ~~required~~of tothis ~~submit~~Form ~~and~~10-K ~~post~~or ~~such~~any ~~files).~~amendment ~~Yes[~~to ]this ~~No[~~Form ]10-K. x

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

Indicate by check mark whether the registrant is a large 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 [o ] Non-accelerated filer [o ]Smaller reporting company x (Do not check if a smaller reporting company) ~~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 o No x

Yes [ ] No [X]

The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter was $-0-

The number of shares outstanding of the Registrant’s common stock as of ~~April~~March 931, ~~2010~~2011 was 2286,~~640~~735,~~000~~360.

TABLE OF CONTENTS

	PART I

Item 1.	Business	3

Item 1A.	Risk Factors	5

Item 1B.	Unresolved Staff Comments	9

Item 2.	Properties	9

Item 3.	Legal Proceedings	9

Item 4.	Submission of Matters to a Vote of Security Holders	9

	PART II

Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	9

Item 6.	Selected Financial Data	11

Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11

Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	14

Item 8	Financial Statements and Supplementary Data	14

Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	14

Item 9A(T).	Controls and Procedures	16

Item 9B.	Other Information	16

	PART III

Item 10.	Directors, Executive Officers and Corporate Governance	17

Item 11.	Executive Compensation	18

Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	21

Item 13	Certain Relationships and Related Transactions, and Director Independence	23

Item 14.	Principal Accounting Fees & Services	25

	PART IV

Item 15.	Exhibits, Financial Statement Schedules	26

SIGNATURES		28

TABLE OF CONTENTS
	PART I
Item 1.	Business.	4
Item 1A.	Risk Factors.	5
Item 1B.	Unresolved Staff Comments.	7
Item 2.	Properties.	7
Item 3.	Legal Proceedings.	7
	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.	8
Item 6.	Selected Financial Data.	9
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	9
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.	12
Item 8	Financial Statements and Supplementary Data.	13
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.	13
Item 9A(T).	Controls and Procedures.	14
Item 9B.	Other Information.	14
	PART III
Item 10.	Directors, Executive Officers and Corporate Governance.	15
Item 11.	Executive Compensation.	17
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	18
Item 13	Certain Relationships and Related Transactions, and Director Independence.	19
Item 14.	Principal Accounting Fees & Services.	20
	PART IV
Item 15.	Exhibits, Financial Statement Schedules.	21
SIGNATURES		22

PART I

ITEM 1. BUSINESS.

FORWARD LOOKING STATEMENTS

The following discussion contains forward-looking statements regarding us, our business, prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause our actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Factors that may affect such forward-looking statements include, without limitation: our ability to successfully ~~develop~~increase ~~new~~orders ~~products~~from existing customers, expand our current business and ~~services~~develop additional revenue streams for new markets; the impact of competition on our revenues,; changes in ~~law~~legal or regulatory requirements that adversely affect or preclude new or existing clients from using us for ~~certain~~the ~~applications~~services we provide; delays ~~our~~involving the introduction of new ~~products or~~ services; and our failure to keep pace with our competitors.

When used in this discussion, words such as "believes," "anticipates," "expects,” "intends" and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this annual report (“Annual Report”). We undertake no obligation to revise any forward-looking statements in order to reflect events or circumstances that may subsequently arise. Readers are urged to carefully review and consider the various disclosures made by us in this ~~report~~Annual Report and other reports we have filed with the Securities and Exchange Commission (“SEC”) that attempt to advise interested parties of the risks and factors that may affect our business.

Except as the context otherwise requires, the terms "Company," "we," "our,” "us" or “~~Nasus~~NARC,” means ~~Nasus~~National ~~Consulting,~~Asset ~~Inc~~Recovery Corp.

~~Background~~BACKGROUND ~~and~~AND ~~Current~~CURRENT ~~Operations~~OPERATIONS

Prior to October 1, 2010, when we changed our name to National Asset Recovery Corp., we conducted business under the name of Nasus Consulting, Inc. Nasus Consulting, Inc. was incorporated in the Commonwealth of Massachusetts on August 1, 2000. On March 5, 2009, we completed a statutory merger (solely for the purpose of redomicile) with a Nevada corporation by the same name. On March 1210, 2009, we amended our Articles of Incorporation to increase our authorized common shares to 200,000,000. From inception until May 27, 2009, we provided professional information technology (“IT”) services, including software and hardware installation, data conversion, training, and software product modifications to businesses. On May 27, 2009 (the “~~Transaction~~Effective Date”), our principal shareholders and officers, Russell R. Desjourdy and Lynn Desjourdy, together with all of our remaining officers and directors voluntarily resigned from their respective offices and positions ~~effective~~on ~~as of~~ the ~~Transaction~~Effective Date. All of our assets held as of the ~~Transaction~~Effective Date were distributed to Mr. Desjourdy as compensation for the voluntary termination of his employment agreement.

~~Effective~~On ~~as of~~ the ~~Transaction~~Effective Date, we ceased operating our IT services business, and as a result, we no longer ~~derive~~derived any revenues from ~~this~~that business. From the ~~Transaction~~Effective Date ~~throughout~~until ~~the~~August ~~balance~~27, ~~of 2009~~2010, ~~our~~we ~~current~~developed ~~management~~a ~~has~~new ~~been~~business model and were engaged in negotiating the potential purchase or an exclusive licensing arrangement of certain technology from Idea Fabrik SA (“Idea Fabrik”), a company domiciled in Luxembourg. ~~We have not concluded that transaction.~~ That technology, ifwas ~~purchased or licensed by us, is~~ intended to serve as the foundation platform for the development of a range of Massively Multiplayer Online ("MMO"), virtual reality experiences for on-line internet entertainment, education, ~~and~~ social and business interactive purposes. During Ifthis ~~we do not execute the license with Idea Fabrik~~time, we ~~may~~were ~~have to abandon our product development strategy or extend our development timeline. We are~~ also engaged in conceptual product design, market analysis, ~~detailed~~ business plan development and testing and evaluation of ~~some of the~~ additional technologies that we ~~believe~~believed ~~will~~were be required to develop our potential MMO product offerings. WeDuring ~~have~~2010, been using a development license we purchased in the second half of 2009 in order to create prototypical demonstration models of specific elements of our intended products. The term of that development license expired and we currently do not expect to be able to secure extension or renewal. Recentlyhowever, we ~~have~~ had to ~~reduce~~ significantly reduce the level of activity in all of these areas due to capital constraints~~. As~~, ~~and~~which ~~from~~was compounded by the ~~Transaction~~fact ~~Date,~~that we ~~are~~were ~~currently~~ a development stage company and ~~have~~had not recorded any revenues tofrom ~~date~~the Effective Date.

As a result of these events, our management recommended that we discontinue the development of our MMO and any other technologies and on August 27, 2010 (the “Transaction Date”), our principal shareholder and Chairman, Oleksandr Shalash (“Mr. Shalash”), and all of our remaining officers and directors voluntarily resigned from their respective positions effective as of the Transaction Date. On the Transaction Date, Mr. Shalash and Ivan Hrubi (“Mr. Hrubi”), our two (2) principal shareholders, granted options to approximately fifteen (15) investors to acquire all of the 16,000,000 shares they owned. In addition, Messrs. Shalash and Hrubi granted proxies to William G. Forhan to vote their shares. All of our assets held as of the Transaction Date were transferred and delivered to Idea Fabrik in consideration for its agreement to cancel certain debts of the Company, which were evidenced by promissory notes held by Idea Fabrik. Idea Fabrik also agreed to assume other debts of the Company that were owed to a former director. On the Transaction Date, we received a signed general release for each debt that was either cancelled or assumed by Idea Fabrik.

Effective as of the Transaction Date, a new Board of Directors was elected by a majority of shareholders and was comprised of William G. Forhan, Robert Kuechenberg, Brad Shrader and Steven York. The newly elected Board of Directors then appointed Mr. Forhan to serve as our Chief Executive Officer and Chief Financial Officer and appointed Mr. Shrader as our Chief Operating Officer (“COO”). On the Transaction Date, we issued a total of 60,000,000 new shares from our treasury to Mr. Forhan (20,000,000 shares), Ralph Oelbermann (20,000,000 shares) and Dewfish and Company (20,000,000 shares) for services provided to us. The issuance of these shares resulted in a change of our control and on the Transaction Date, these three (3) shareholders collectively owned approximately 70.04% of our outstanding shares.

Effective as of the Transaction Date, we changed our business to model to become a repossession company of motor vehicles, construction equipment, watercraft, airplanes and other luxury assets. On October 1, 2010, we also changed our name from Nasus Consulting, Inc. to National Asset Recovery Corporation to more accurately associate our corporate name with the type of business we are engaged in. Our stock symbol was also changed from NSUS to REPO for this same reason.

We have established relationships with banks and other lending institutions to locate and repossess various types of collateral from individuals, companies and other parties who have defaulted on purchase or lease obligations. Through marketing and advertising efforts, we intend to increase our client base and perform asset repossession services throughout the United States. In addition, we intend to expand our operations through strategic partnerships with other repossession companies and acquisitions in hopes of establishing a national brand.

On October 19, 2010, we acquired all of the assets and assumed certain liabilities of Advanced Recovery of Florida, a sole proprietorship, from Michael James Blackburn through an Asset Purchase Agreement for 625,000 shares of our common stock and other consideration.

Commencing in December 2010, we experienced significant changes to our management. As discussed elsewhere in this Annual Report, Mr. Shrader was terminated as our COO and also removed as a Director on December 16, 2010, due to disagreements he had with other members of management. On December 16, 2010, a majority of our shareholders also caused Mr. Forhan to be removed from the Board of Directors and elected William A. Glynn and Bradley Wilson as new Directors. Following these events, Mr. Forhan assumed the responsibilities of our COO and Mr. Glynn became our new Chief Executive Officer, Chief Financial Officer and Treasurer. Mr. Wilson became Chairman of our Board of Directors and was also appointed to serve as our Secretary.

Due to the material changes in the composition of our executive management, both Mr. York and Mr. Kuechenberg voluntarily resigned from their positions on the Board of Directors on January 31, 2011 and February 21, 2011, respectively. As of the date of this Annual Report, the vacancies created from these departures have not yet been filled and Mr. Glynn and Mr. Wilson represent all current members of our Board of Directors.

EMPLOYEES

We currently employ a total of five (5) employees who all work from our offices located at 9000 Burma Road, Suite 103, Palm Beach Gardens, Florida 33403. None of our employees are covered by any type of collective bargaining agreement or employment contract and are all considered to be “employees at will.”

As a development stage company, we intend to design, develop and bring to market an immersive 3D virtual world that will provide an online, consumer entertainment experience that combines multiplayer gaming, virtual world, and social networking elements; one that will be easy to navigate, experience, and understand – providing for an enjoyable experience for not only experienced and dedicated virtual world or gaming users, but also more social and casual internet users.COMPETITION

WeThe ~~have~~repossession ~~executive~~industry ~~management~~is ~~with~~highly ~~more~~competitive ~~than~~and aconsists ~~decade~~primarily of ~~micro-cap~~small to medium size, ~~public~~privately owned companies that are divided into two categories. The first of these are typically referred to as “Recovery Companies” and are businesses that physically locate and recover vehicles or other assets. Recovery Companies may also provide storage, transport and other services that are required when a vehicle or other asset is seized and ultimately sold at auction. The second type of company ~~experience~~within the repossession industry is commonly referred to as a “Forwarding Company.” InThese ~~addition~~types weof businesses have ~~retained~~direct adealings ~~core~~with ~~consulting~~banks, ~~team~~financial inand ~~Austin~~lending institutions and then subcontract with Repossession Companies for asset location, ~~Texas~~recovery and other services. Forwarding Companies generally manage and coordinate the activities of Repossession Companies with ~~strong~~respect ~~industry~~to ~~specific~~repossesion ~~credentials~~orders they receive from lending institutions. ~~This~~Fees ~~team~~earned isby ~~engaged~~Forwarding inCompanies ~~designing~~represent the ~~detailed~~difference ~~product~~between ~~development~~the ~~plan,~~repossession ~~conducting~~fees ~~target~~that ~~market~~the ~~evaluations~~lending institutions are willing to pay and ~~negotiating~~the amounts that are charged by the ~~purchase~~Repossession orCompanies ~~license~~on a per order basis. Fees earned by Forwarding Companies per order are often minimal and therefore, these businesses rely on high volumes of ~~Virtual~~repossession ~~World~~orders. Repossession ~~Core~~of ~~from~~financed ~~Idea~~or ~~Fabrik~~leased vehicles and ~~leading~~other assets within the ~~development~~United States currently represents a $5 billion dollar industry with over 20,000 lenders (banks, credit unions and ~~production~~other lending institutions) and in excess of ~~our~~5,600 ~~prototype~~repossession ~~demonstration~~type ~~models~~companies.

WeAs ~~have~~a ~~and~~Forwarding ~~are~~Company ~~continuing~~within tothe ~~take~~industry, ~~steps~~we tocompete ~~assemble~~with ana ~~advisory~~large ~~board~~number of ~~leaders~~similar inbusinesses ~~the~~as ~~MMO,~~well ~~Virtual~~as ~~World,~~Repossession Companies who seek to establish direct relationships with banks and ~~Digital~~other ~~Media~~lending ~~disciplines~~institutions. WeOur ~~expect~~ability to successfully compete in this ~~board~~market will require us to ~~play~~increase athe ~~critical~~volume ~~role~~of inorders ~~helping~~we uscurrently ~~develop~~receive ~~the~~from ~~full~~our ~~vision~~existing customers; increase and diversify the number of ~~our~~customers ~~product~~we ~~strategy~~have; and tointroduce ~~guide~~new ~~our~~services ~~execution~~that ~~along~~we can provide either directly or through third parties. There are no assurances that we will be successful in carrying out or achieving these objectives or that we can successfully raise the ~~way~~capital needed to maintain and grow our business.

Employees

We currently do not have any employees and utilize outside consultants for our executive management, finance, administration, software development and strategic planning functions.

Competition

According to new research by analyst group DFC Intelligence, over the next five years the online game market is expected to exhibit explosive growth and become a $13 billion dollar industry, with digital distribution and virtual item sales expected to account for 40% of those sales.

Our target, the MMO segment of that market, continues to grow in popularity as seen with the success of the games such as World of Warcraft®, with estimated subscribers of more than 11.5 million as of 2008, and Second Life®, a virtual world developed for the Internet reported to have more than 16 million registered users.

The gaming industry includes such large well know entities such as Activision (ATVI) with $2.89B LFY revenue and Electronic Arts (ERTS) with $4.21B LFY revenue. We view our primary direct competition as much smaller, single focus offerings such as Second Life, Twinity, Kaneva and Eve On-Line. Of these, Second Life is the most consistently successful and the others are smaller, earlier stage offerings.

ITEM 1A. RISK FACTORS.

WeRISK ~~may~~RELATED beTO ~~unsuccessful~~OUR ~~in obtaining the necessary financing to fund our business.~~OPERATIONS

~~Currently~~· weWe have ~~limited~~incurred ~~cash~~significant onoperating ~~hand~~losses ~~and~~that ~~are~~raise ~~funding~~doubts ~~the~~about ~~Company~~our onability ato ~~short-term~~continue ~~basis~~as ~~with~~a ~~loans~~going ~~with related parties~~concern, ~~principally~~and ~~Idea~~if ~~Fabrik, who has provided $676,000 in loans from inception to date. We will need additional capital to complete the conceptual design stage of our product. If~~ we ~~cannot~~do ~~secure~~not ~~that~~achieve ~~capital,~~profitability we ~~will~~may ~~not complete the design stage or~~ be ~~able~~forced to ~~secure~~cease ~~funding for product development~~operations.

IfWe wehave ~~secure~~incurred ~~funding~~significant tonet ~~complete~~losses since our second quarter ending June 30, 2009, including net losses from operations of approximately $706,961 for the ~~conceptual~~year ~~design~~ended ~~stage~~December 31, 2009 and ~~move~~$570,341 tofor the ~~development~~year ~~stage~~ended December 31, ~~the~~2010. The ~~development~~extent ~~cycle~~of ~~for~~our future operating losses and the timing of our ~~intended~~profitability ~~product~~are ishighly ~~long~~uncertain, and ~~expensive~~we may never generate sufficient revenues to achieve or sustain profitability. IfBased weon dofunds ~~not~~available ~~secure~~to ~~adequate~~us ~~financing~~as of December 31, we2010, ~~will~~our beindependent public accountants have expressed doubt about our ability to continue as a going concern if we are unable to ~~complete~~raise ~~the~~additional ~~product~~funds. In ~~development~~this ~~cycle~~regard, ~~and~~see ~~recover~~Note 9 to our ~~investment~~audited consolidated financial statements included in this Annual Report. If we are ~~delayed~~unable into ~~securing~~successfully ~~the~~implement ~~necessary~~our ~~financing~~business plan, increase both the ~~development~~number ~~timeline~~of ~~will~~repossession ~~extend~~orders we receive and ~~our~~the ~~market~~number ~~penetration~~of ~~strategy~~customers ~~may~~we ~~suffer~~presently have, and create additional sources of revenue from ~~price~~new ~~erosion~~services, ~~increased~~we ~~competition~~will ornot ~~other~~generate ~~factors~~sufficient revenues and achieve profitability and may be forced to cease operations.

·	We may be unsuccessful in obtaining the necessary financing to fund our business.

Currently we have limited cash on hand and are funding the Company on a short-term basis with loans from a related party, York & Kassing Services, Ltd., who as of January 1, 2011, has provided us with approximately $160,965 in loans to date. We will need additional capital, which may be significant, on an ongoing basis until such time as we can generate sufficient revenues from operations and we cannot predict with any degree of certainty when that will occur. If we are unable to obtain additional funding to finance our business, we will have to cease operations and terminate our business.

· We ~~may~~do benot ~~unable~~generate ~~to acquire~~ and ~~create~~we ~~the~~may ~~technologies~~never ~~necessary~~generate topositive ~~support~~operating ~~our~~cash ~~concept~~flow.

~~Our~~Since ~~product~~the ~~development~~second ~~plans~~quarter ~~involve~~ending aJune ~~high~~30, ~~level~~2009, ofour ~~execution~~business ~~risk. We~~operations ~~intend to~~have ~~integrate and apply known technologies in a manner that we believe has~~ not ~~been~~generated ~~attempted~~positive bycash ~~other~~flow ~~development companies,~~ and we ~~will~~do benot ~~developing~~receive ~~and~~revenues ~~acquiring~~from ~~new~~any ~~technologies~~other ~~that we expect to be essential in delivering our targeted product performance~~source. IfWe wecannot ~~experience~~predict ~~difficulty~~or inguarantee ~~these~~when ~~efforts,~~the ~~our~~services ~~entire~~we ~~development~~provide ~~efforts could fail or~~will, if weever, ~~experience~~generate ~~serious~~sufficient ~~and~~revenue ~~costly~~to ~~delays~~achieve inprofitability. Until ~~our development timeline~~then, we ~~could~~must begenerate ~~forced~~cash tofrom ~~make~~other ~~serious~~sources, ~~compromises~~including insales ~~our~~of ~~product~~equity ~~performance~~or ~~that~~debt ~~would~~securities ~~have~~and ~~negative~~borrowings ~~impact~~from onthird ~~our financial performance~~parties.

We· ~~may~~Our becash ~~unable~~position tois ~~execute~~very alow ~~purchase~~relative orto ~~licensing~~our ~~agreement~~anticipated ~~with~~cash ~~Idea Fabrik~~needs.

IfAs weof doDecember ~~not~~31, ~~execute~~2010, awe ~~purchase~~had orcash ~~license~~on ~~agreement~~hand ~~with~~of ~~Idea~~approximately ~~Fabrik~~$7,369. This weis ~~may~~substantially ~~have~~less tothan ~~abandon~~ our ~~product~~projected ~~development~~short-term ~~strategy~~and orlong-term ~~extend~~cash ~~our~~needs ~~development~~(including ~~timeline~~fixed costs and projected future cots). InThere ~~the~~can ~~latter~~be ~~case,~~no ~~our~~guaranty ~~market~~that ~~penetration~~we ~~strategy~~can ~~may~~raise ~~suffer~~additional funds from ~~price~~sales ~~erosion,~~of ~~increased~~our ~~competition~~equity or ~~other~~debt ~~factors~~securities ~~and~~or weborrow ~~could~~money beon ~~forced~~terms that are acceptable to ~~make~~us ~~serious~~or ~~compromises~~otherwise ingenerate sufficient revenue to maintain our ~~product~~operations. Our ~~performance~~inability to obtain such funds would have a material adverse effect on the Company’s financial condition and its business and may result in us ceasing operations.

~~Other~~· ~~competitors~~We ~~may~~are besubject ~~successful~~to inevolving ~~launching~~and ~~their~~expensive ~~product~~corporate ~~platform~~governance ~~before~~regulations weand dorequirements. Our failure to adequately adhere to these requirements or the failure or circumvention of our controls and procedures could seriously harm our business.

~~Because~~As a publicly traded company, we are subject to certain federal, state and other rules and regulations, including applicable requirements of the ~~long~~Sarbanes-Oxley ~~development~~Act ~~cycle~~of ~~inherent~~2002. Compliance inwith ~~our~~these ~~product~~evolving regulations is costly and requires a significant diversion of management, wetime ~~are~~and atattention, ~~risk~~particularly ~~that~~with ~~other~~regard ~~competitors~~to ~~may~~disclosure ~~launch~~controls ~~similar~~and orprocedures ~~better~~and ~~product~~internal ~~offerings~~control ~~before~~over financial reporting. Although we ~~are~~have ~~ready~~reviewed toour godisclosed and internal controls and procedures in order to ~~market.~~determine ~~There~~whether they are aeffective, ~~number~~our ofcontrols ~~existing~~and ~~organizations~~procedures ~~that~~may ~~already~~not ~~appear~~be able to ~~have~~prevent errors or fraud in the ~~capital~~future. Faulty ~~and~~judgments, ~~other~~simple ~~resources~~errors asor ~~well~~mistakes, asor the ~~experience~~failure ~~necessary~~of our personnel to ~~pursue~~adhere ~~the~~to ~~same~~established ~~market~~controls ~~opportunity~~and procedures may make it difficult for us to ensure that wethe objectives of the control system are ~~targeting~~met. A failure of our controls and procedures to detect other than inconsequential errors or fraud could seriously harm our business and results of operations.

We· ~~may~~Dependence beof ~~subject~~key ~~to new regulatory controls on virtual economies~~personnel.

AsWe ~~the~~are ~~broader~~dependent ~~social~~on ~~experience~~our ~~with~~ability ~~virtual~~to ~~worlds~~retain isand ~~still~~motivate ~~in an early stage, there is risk that, with time, government regulation may emerge that limits or taxes some virtual world activities that are included in~~ our ~~design~~existing management. ~~This~~The ~~could~~loss ~~have the effect~~ of ~~reducing~~their ~~our~~services ~~target~~could ~~available~~have ~~market,~~a ~~increasing~~material ~~the~~adverse ~~costs~~effect ofon ~~development~~our operations and ~~support~~future orbusiness ~~reducing the revenue potential of the product~~prospects.

WeRISK ~~may~~RELATING ~~have~~TO ~~incorrectly~~THE ~~assessed~~SERVICES ~~our~~WE ~~target market~~PROVIDE.

We· may be wrong in our assessment of our target market, which we define as consumer entertainment experience that combines multiplayer gaming, virtual world, and social networking elements. Our product may be viewed as an ineffective compromise by some or all of these target users. This may result in revenues that are too low to recover our investment.Competition

~~Our~~The ~~revenue~~repossession ~~model~~industry ~~assumptions~~we are engaged in is highly competitive. There are many companies with far greater resources than we have that are capable of processing higher volumes of repossession orders than we can. Because we act as a Forwarding Company, we earn revenues based on the difference between fees paid to us by banks and lending institutions and the amounts we pay to subcontract Repossession Companies to perform asset recovery services. Oftentimes, the revenues we receive on a per order basis are not significant and as a result, it is essential that we increase the number of repossession orders from our existing customers, establish new customers and introduce new services in order to be profitable. Due to our limited cash reserves and personnel, it may be ~~incorrect~~difficult orfor ~~not~~us ~~supportable~~to bycompete with larger, more established companies within the repossession industry. Our inability to increase our ~~target~~current ~~market~~level of revenues may have a material adverse effect on our ability to continue operations.

~~The~~· ~~revenue~~Government model in our business plan contains certain specific assumptions about revenue sources from a variety of elements including business advertising and promotion fees, migration from free to paid subscribers, real estate management fees, object creation fees and virtual currency sales. If we fail to secure revenue from any of these elements or if our revenue distribution is materially different than we have planned, our expected financial returns may be affected dramatically and we may be unable to recover our investment.Regulations

~~Dependence~~We are subject to various federal and state governmental agencies that regulate and enforce the business we are engaged in that include the Federal Trade Commission. We are also subject to licensing and insurance requirements by the State of ~~key~~Florida ~~personnel~~and other state agencies where we conduct business. Our failure to comply with any laws or regulations that affect our business could result in fines, penalties and regulatory actions being taken against us which could adversely affect our business.

We are dependent on our ability to retain and motivate our existing management and consulting personnel. The loss of their services could have a material adverse effect on our operations and future business prospects.

~~Our~~· ~~securities~~We ~~are~~May ~~listed~~be ~~on the Over-the-Counter Bulletin Board (“OTCBB”) and to date have not traded, which may not provide liquidity for our investors.~~Sued

~~Our~~The ~~securities~~repossession ~~are~~of ~~listed~~vehicles onand other assets is generally subject to the ~~OTCBB~~provisions of the Uniform Commercial Code (“UCC”) as adopted by the various states. The UCC generally requires that the seizure, storage and sale of any recovered asset be carried out in a “commercially reasonably matter,” which is ana ~~inter-dealer~~subjective standard that may differ from state to state. Nevertheless, ~~over-~~the~~-counter~~ ~~market~~UCC ~~that~~and ~~provides~~other ~~significantly~~state ~~less~~laws ~~liquidity~~provide ~~than~~remedies ~~the~~to ~~NASDAQ~~consumers ~~Stock~~and ~~Market~~other parties in certain instances when vehicles or other ~~national~~assets orhave ~~regional~~not ~~exchanges~~been properly recovered or sold. ~~Securities~~Because ~~traded~~we onact ~~the~~as ~~OTCBB~~ a Forwarding Company and are ~~usually~~not ~~thinly~~directly ~~traded,~~involved ~~highly~~in ~~volatile,~~the ~~have~~asset ~~fewer~~recovery ~~market~~process, ~~makers~~we ~~and~~believe ~~are~~our ~~not~~exposure ~~followed~~to bypotential ~~analysts. The~~litigation ~~Securities~~from consumers and ~~Exchange~~other ~~Commission's~~parties ~~order~~is ~~handling rules~~limited. However, ~~which~~and ~~apply~~regardless toof ~~NASDAQ-listed~~our ~~securities~~belief, dowe ~~not~~may ~~apply~~be tosued ~~securities~~by ~~quoted~~customers onor other third parties if the ~~OTCBB. We~~actions ~~are~~of ~~dependent~~a onRepossession ~~professional~~Company ~~market~~that ~~makers~~we tohave ~~facilitate~~contracted ~~trading~~with ofviolate ~~our~~any ~~securities~~laws onthat apply to the ~~OTCBB~~recovery of vehicles and other assets. IfWe ~~market~~currently ~~makers~~maintain doliability ~~not~~insurance ~~register~~for tothese ~~trade~~contingencies ~~our~~in ~~securities~~the ~~there~~amount of $1,000,000 ~~stockholders~~per ~~may~~occurrence ~~not~~with ~~have~~an aannual ~~public~~limitation ~~market~~of ~~for~~$3,000,000 but the ~~purchase~~amount ~~and~~of ~~sale~~coverage ofmay not fully cover our ~~securities~~potential liabilities. ~~Therefore~~In addition, ~~prices~~if ~~for~~we ~~securities~~attempt ~~traded~~to ~~solely~~obtain onadditional ~~the~~liability ~~OTCBB~~insurance coverage, this additional insurance may be ~~difficult~~prohibitively toexpensive ~~obtain~~ and ~~holders~~may ofstill ~~our~~not ~~securities~~fully ~~may~~cover beour ~~unable~~potential liabilities. Our inability to ~~resell~~maintain ~~their~~adequate ~~securities~~insurance atcoverage orcould ~~near~~have ~~their~~a ~~original~~material ~~acquisition~~adverse ~~price~~affect on our business and if we are sued, orour atliability resulting from any ~~price~~potential litigation could exceed our total assets.

WeRISK ~~may~~RELATED ~~sell~~TO ~~additional~~AN ~~shares~~INVESTMENT inIN ~~the~~OUR ~~future,~~COMMON ~~which could cause existing stockholders significant dilution.~~STOCK

We· ~~currently~~The ~~have~~trading ~~200,000,000 shares~~ of our common stock ~~authorized. Accordingly,~~on wethe ~~have~~OTCQB ~~substantial amounts of authorized but unissued capital stock. Our Articles of Incorporation~~ and ~~applicable provisions of Nevada law provide that we may issue authorized capital stock at~~ the ~~approval~~designation of our ~~Board~~common ofstock ~~Directors,~~as ~~and~~a no“penny ~~stockholder~~stock” ~~vote~~could orimpact ~~other~~the ~~form~~trading ofmarket ~~stockholder approval is required~~ for ~~us to issue such capital stock. Consequently, we could issue shares of~~ our common stock ~~in connection with future financings or acquisitions or in conjunction with equity compensation arrangements that could significantly dilute existing stockholders~~.

~~Compliance~~Our ~~with~~common ~~new~~stock ~~requirements~~is currently traded on the OTCQB, an electronic trading system maintained by OTC Markets Group, Inc., under ~~Section~~the ~~404~~stock symbol “REPO” and may be subject to SEC rules that impose special sales practice requirements on broker-dealers who sell these securities to persons other than established customers or accredited investors. For the purposes of the ~~Sarbanes-Oxley~~rule, ~~Act~~the phrase “accredited investors” means, in general terms, institutions with assets in excess of ~~2002~~$5,000,000 or individuals having a net worth in excess of $1,000,000 or having an annual income that exceeds $200,000 (or that exceeds $300,000 when combined with spouse’s income). For transactions covered by the rule, the broker-dealer must make a special suitability determination for the purchaser and receive the purchaser's written agreement to the transaction before the sale. Consequently, the rule may ~~increase~~affect the ability of broker-dealers to sell our ~~costs~~securities and ~~has~~also ~~indicated~~may aaffect ~~material~~the ~~weakness~~ability of purchasers to sell their securities in ~~our~~any ~~internal~~market ~~controls~~that might develop.

~~Pursuant~~In toaddition, ~~Section~~the ~~404~~SEC ofhas ~~the~~adopted ~~Sarbanes-Oxley~~a ~~Act~~number of ~~2002,~~rules weto ~~are~~regulate ~~required~~"penny tostock" ~~include~~that inrestrict ~~this~~transactions ~~annual~~involving ~~report~~these ~~our~~securities, ~~assessment~~including ofRules ~~the~~3a51-1, ~~effectiveness~~15g-1 ofthrough ~~our~~15g-7, ~~internal~~and ~~control~~15g-9 ~~over~~under ~~financial~~the ~~reporting~~Exchange asAct. These rules may have the effect of reducing the ~~end~~liquidity of ~~our~~penny ~~fiscal~~stocks. ~~year~~"Penny ~~ended~~stocks" ~~December~~generally ~~31,~~are ~~2009. Furthermore,~~equity ~~beginning~~securities with ~~our~~a ~~year~~price ~~ended~~of ~~December~~less ~~31,~~than ~~2010~~$5.00 ~~our~~per ~~independent~~share ~~registered~~(other ~~public~~than ~~accounting~~securities ~~firm~~registered ~~will~~on becertain ~~required~~national tosecurities ~~attest~~exchanges, toincluding ~~whether~~the itNASDAQ ~~believes~~Stock weExchange) ~~have~~if ~~maintained,~~current inprice ~~all~~and ~~material~~volume ~~respects,~~information ~~effective~~with ~~internal~~respect ~~control~~to ~~over~~transactions ~~financial~~in ~~reporting. We~~such ~~have~~securities ~~and~~is ~~expect~~provided toby ~~continue~~the toExchange. ~~incur~~Because ~~additional~~our ~~expenses~~common ~~and~~stock ~~diversion~~may ofconstitute ~~management’s~~"penny ~~time~~stock" aswithin athe ~~result~~meaning of ~~performing~~the rules, the ~~system~~rules ~~and~~would ~~process~~apply ~~evaluation,~~to ~~testing~~us and ~~remediation~~to ~~required~~our insecurities. ~~order~~If toour ~~comply~~shares ~~with~~of common stock are subject to the ~~management~~penny ~~certification~~stock ~~and~~rules, ~~auditor~~stockholders ~~attestation~~may ~~requirements~~find it more difficult to sell their securities.

~~ITEM~~Stockholders 1Bshould also be aware that, according to the SEC, the market for penny stocks has suffered from patterns of fraud and abuse. ~~UNRESOLVED~~ ~~STAFF~~Such ~~COMMENTS~~patterns include (i) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (ii) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (iii) "boiler room" practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (iv) excessive and undisclosed bid-ask differentials and markups by selling broker-dealers; and (v) the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, resulting in investor losses .

·	Substantial future sales of shares of our common stock in the public market could cause our stock price to fall.

If our stockholders sell substantial amounts of our common stock or the public market perceives that stockholders might sell substantial amounts of our common stock, the market price of our common stock could decline significantly. Such sales also might make it more difficult for us to sell equity or equity-related securities in the future at a time and price that our management deems appropriate. As of March 31, 2011, we have outstanding 86,735,360 shares of common stock.

·	We do not pay cash dividends to our stockholders and have no plans to pay future cash dividends.

We plan to retain earnings, if any, to finance future growth and have no current plans to pay future cash dividends to stockholders. Because we do not pay cash dividends, holders of our shares will experience a gain on their investment in our shares only in the case of an appreciation of value of our shares.

·	Our officers, directors and principal stockholders controlling approximately 31% of our outstanding common stock can exert significant influence over us and may make decisions that are not in the best interest of all stockholders.

Our officers, directors and principal stockholders (greater than 5% stockholders) collectively control approximately 31% of our outstanding common stock. As a result, these stockholders will be able to affect the outcome of or exert significant influence over all matters requiring stockholder approval, including the election and removal of directors and any change in control. In particular, this concentration of ownership of our common stock could have the effect of delaying or preventing a change of control or otherwise discouraging or preventing a potential acquirer from attempting to obtain control of the Company. This in turn could have a negative effect on the market price of our common stock. It could also prevent our stockholders from realizing a premium over the market prices for their shares of common stock. Moreover, the interests of this concentration of ownership may not always coincide with our interests or the interests of other stockholders and, accordingly, they could cause us to enter into transactions or agreements that we would not otherwise consider.

·	Our shares are listed on the Over-the-Counter OTCQB market and to date have only minimally traded, which may not provide liquidity for our investors.

Our shares are listed on the OTCQB, which is an electronic over-the-counter trading system that provides significantly less liquidity that the NASDAQ Stock Market or other national or regional exchanges. Securities traded on the OTCQB are usually thinly traded, highly volatile, have fewer market makers and are not followed by analysts. The SEC’s order handling rules, which apply to NASDAQ-listed securities, do not apply to securities quoted on the OTCQB. We are dependent on professional market makers to facilitate trading of our shares on the OTCQB. If market makers do not register to trade our shares on the OTCQB, stockholders may not have a public market for the purchase and sale of our shares. Therefore, prices for shares traded solely on the OTCQB may be difficult to obtain and holders of our shares may be unable to resell their shares at or near their original acquisition price, or at any price.

·	We may sell additional shares in the future, which could cause existing stockholders significant dilution.

We currently have 200,000,000 shares of common stock authorized of which 86,735,360 are issued and outstanding. Accordingly, we have substantial amounts of authorized but unissued capital stock. Our Articles of Incorporation and applicable provisions of Nevada law provide that we may issue authorized capital stock at the approval of our Board of Directors, and no stockholder vote or other form of stockholder approval is required for us to issue such capital stock. Consequently, we could issue additional shares of our common stock in connection with future financings or acquisitions or in conjunction with equity compensation arrangements that could significantly dilute existing stockholders.

ITEM IB. UNRESOLVED STAFF COMMENTS

As a smaller reporting company, we are not required to disclose the information under this item.

ITEM 2. ~~PROPERTIES~~DESCRIPTION OF PROPERTY.

We ~~currently~~have doone ~~not~~leased ~~occupy~~facility, ~~own~~a orcorporate ~~rent~~office ~~any~~in ~~corporate~~West ~~office~~Palm ~~space~~Beach, Florida. Our corporate ~~address~~office is ~~258~~staffed ~~Southhall~~by ~~Lane,~~five ~~Suite~~(5) ~~420,~~people ~~Maitland,~~devoted ~~FL 32751~~to corporate development, ~~which~~management isand ~~the~~operations. Our corporate ~~address~~office ~~for~~is ~~the~~located ~~firm~~at –9000 ~~Snyderburn~~Burma Road, ~~Rishoi~~Suite ~~& Swann~~103, ~~whom~~Palm weBeach ~~engage~~Gardens, ~~for~~Florida ~~our corporate legal services~~33403.

ITEM 3. LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings nor is our property the subject of any material legal proceeding.

7ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On December 16, 2010, a majority of our shareholders voted to remove William G. Forhan as a Director and increase the number of seats on our Board of Directors from four (4) to five (5). Through this action, a majority of shareholders also voted to elect Bradley Wilson to serve as our Chairman and William A. Glynn to serve as a Director on the Board.

PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES.

Our common stock is currently listed on the ~~OTC~~OTCQB ~~Bulletin Board~~ maintained by ~~the~~OTC ~~Financial~~Markets ~~Industry~~Group, ~~Regulatory~~Inc., ~~Authority~~ under the symbol ~~NSUS~~REPO. Our common stock ~~has~~only ~~not~~recently ~~traded~~commenced ~~since~~trading ~~inception~~during the fourth quarter of our calendar year ending December 31, 2010, and the ~~sale,~~range of high and low bid quotations reported by trough the OTCQB were between $.06 and ~~ask~~$.54 per share. Such over-the-counter market quotations reflect interdealer prices ~~have~~without ~~been~~retail mark-up, mark-down or commission and may not necessarily represent actual transactions. On March 30, 2011, the closing price of our common stock on the OTCQB was $0.0043 per share.

OnNUMBER ~~April~~OF 9,SHAREHOLDERS ~~2010,~~OF ~~the~~RECORD ~~closing~~AND ~~price of our common stock on the OTC Bulletin Board was $0.00 per share.~~DIVIDENDS

~~Number~~On March 25, 2011, the number of ~~Shareholders~~shareholders of ~~Record~~record of the Company's issued and ~~Dividends~~outstanding common stock was 48. This number was derived from our stockholder records. Holders of common stock are entitled to receive such dividends as may be declared by our Board of Directors. No dividends on the common stock were paid by us during the periods reported herein nor do we anticipate paying dividends in the foreseeable future.

OnTHE ~~April~~SECURITIES 9,ENFORCEMENT ~~2010,~~AND ~~the~~PENNY ~~number~~STOCK ofREFORM ~~shareholders~~ACT ofOF ~~record of the Company's issued and outstanding common stock was nine. This number was derived from our stockholder records.~~1990

Holders of common stock are entitled to receive such dividends as may be declared by our Board of Directors. No dividends on the common stock were paid by us during the periods reported herein nor do we anticipate paying dividends in the foreseeable future.

The Securities Enforcement and Penny Stock Reform Act of 1990

The Securities Enforcement and Penny Stock Reform Act of 1990 require additional disclosure and documentation related to the market for penny stock and for trades in any stock defined as a penny stock. Unless we can acquire substantial assets and trade at over $5.00 per share on the bid, it is more likely than not that our securities, for some period of time, would be defined under that Act as a "penny stock." As a result, those who trade in our securities may be required to provide additional information related to their fitness to trade our shares. These requirements present a substantial burden on any person or brokerage firm who plans to trade our securities and would thereby make it unlikely that any liquid trading market would ever result in our securities while the provisions of this Act might be applicable to those securities.

Any broker-dealer engaged by the purchaser for the purpose of selling his or her shares in us will be subject to Rules 15g-1 through 15g-10 of the Securities and Exchange Act. Rather than creating a need to comply with those rules, some broker-dealers will refuse to attempt to sell penny stock.

The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document prepared by the Commission, which:

·	contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading;

·	contains a description of the broker's or dealer's duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements of the Securities Act of 1934, as amended;

·	contains a brief, clear, narrative description of a dealer market, including "bid" and "ask" prices for penny stocks and the significance of the spread between the bid and ask price;

·	contains a toll-free telephone number for inquiries on disciplinary actions;

·	defines significant terms in the disclosure document or in the conduct of trading penny stocks; and

· contains such other information and is in such form (including language, type, size and format) as the ~~Securities~~SEC ~~and Exchange Commission~~ shall require by rule or regulation;

The broker-dealer also must provide, prior to effecting any transaction in a penny stock, to the customer:

·	the bid and offer quotations for the penny stock;

·	the compensation of the broker-dealer and its salesperson in the transaction;

·	the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and

·	monthly account statements showing the market value of each penny stock held in the customer's account.

In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from those rules; the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser's written acknowledgment of the receipt of a risk disclosure statement, a written agreement to transactions involving penny stocks, and a signed and dated copy of a written suitability statement. These disclosure requirements will have the effect of reducing the trading activity in the secondary market for our stock because it will be subject to these penny stock rules. Therefore, stockholders may have difficulty selling their securities.

~~Recent~~RECENT ~~Sales~~SALES ofOF ~~Unregistered~~UNREGISTERED ~~Securities~~SECURITIES

On ~~April~~March 3010, ~~2007~~2009, we ~~executed~~amended aour ~~400~~Articles toof 1Incorporation ~~forward~~to ~~stock~~increase ~~split~~our ~~that~~authorized ~~resulted in the outstanding~~ shares of ~~our~~ common stock ~~being~~to ~~increased from 2~~200,000 ~~shares to 800~~,000 ~~shares~~.

On ~~April~~June 3018, ~~2007~~2009, we ~~issued~~executed a 20~~,000~~ ~~shares each~~ to ~~Directors~~1 ~~Tinio~~forward ~~and~~stock ~~Rodriguez~~split ~~for~~that ~~their~~resulted ~~service~~in on the ~~Board~~outstanding ~~of Directors. These~~ shares ~~were~~of ~~issued~~our incommon ~~reliance~~stock onbeing ~~the~~increased ~~exemption~~from ~~under~~1,132,000 ~~Section~~shares ~~4(2)~~to of22,640,000 ~~the Act~~shares.

InOn ~~September~~August ~~and~~27, ~~December 2007~~2010, we ~~completed~~issued ~~a Regulation D Rule 506 offering in which we sold 312~~20,000,000 shares ~~of common stock~~ to 28William ~~investors, at a price per share of $0~~G.~~125~~ ~~per~~Forhan ~~share~~in consideration for anservices ~~aggregate offering price of $39,000~~rendered. The shares were issued ~~pursuant~~in toreliance anon the exemption ~~from registration~~ provided byunder ~~Rule~~Section ~~506~~4(2) of ~~Regulation D of~~ the ~~Securities~~ Act ~~of 1933~~.

On August 27, 2010, we issued 20,000,000 shares to DewFish and Company, Inc., in consideration for services rendered to the Company. The shares were issued in reliance on the exemption provided under §4(2) of the Act.

On August 27, 2010, we issued 20,000,000 shares to Ralph Oelbermann in consideration for consulting services rendered to the Company. The shares were issued in reliance on the exemption provided under §4(2) of the Act.

On August 27, 2010, we sold an aggregate of 3,020,360 shares to a total of 15 individuals for gross proceeds of approximately $1,336,595, which after deduction of offering related expenses, provided net proceeds to us of approximately $732,145. The shares were sold in reliance of the exemption from registration provided under Regulation S of the Act. Due to the neglect and oversight on the part of our prior Chief Executive Officer, the shares were not actually issued to these shareholders until March 31, 2011.

On August 27, 2010, we issued 50,000 shares each for an aggregate 100,000 shares to Robert Kuechenberg and Steven York for their services as Directors. These shares were issued in reliance on the exemption provided under §4(2) of the Act.

ITEM 6. SELECTED FINANCIAL DATA.

As a smaller reporting company, we are not required to provide this information.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

~~Background~~BACKGROUND ~~and~~AND ~~Current~~CURRENT ~~Operations~~OPERATIONS

We were incorporated in the Commonwealth of Massachusetts on August 1, 2000, originally under the name Nasus Consulting, Inc. On March 5, 2009, we completed a statutory merger (solely for the purpose of redomicile) with a Nevada corporation by the same name. On March 12, 2009, we amended our Articles of Incorporation to increase our authorized common shares to 200,000,000. From inception until May 27, 2009, we provided professional information technology (“IT”) services, including software and hardware installation, data conversion, training, and software product modifications to businesses. On May 27, 2009 ~~(the “Transaction Date”)~~, our principal shareholders and officers, Russell R. Desjourdy and Lynn Desjourdy, together with all of our remaining officers and directors voluntarily resigned from their respective offices and positions effective as of ~~the~~May ~~Transaction~~27, ~~Date~~2009. All of our assets held as of the ~~Transaction~~May ~~Date~~27, 2009, were then distributed to Mr. Desjourdy as compensation for the voluntary termination of his employment agreement.

9Effective as of May 27, 2009, we ceased operating our IT services business, and as a result, no longer derived any revenues from this business. From May 27, 2010 until August 27, 2010, our management had been engaged in negotiating the potential purchase or an exclusive licensing arrangement of certain technology from Idea Fabrik SA (“Idea Fabrik”), a company domiciled in Luxembourg. That technology was intended to serve as the foundation platform for the development of a range of Massively Multiplayer Online ("MMO"), virtual reality experiences for educational, social and business purposes. We were also engaged in product design, market analysis, testing and evaluation of other related technologies. During 2010, we had to reduce significantly the level of activity in all these areas due to capital constraints that was compounded by the fact that we were a development stage company and did not have any recorded revenues between May 27, 2009 and August 27, 2010.

~~Effective~~As asa result of ~~the~~these ~~Transaction Date~~events, ~~we ceased operating~~ our ITmanagement ~~services~~recommended ~~business,~~that ~~and as a result,~~ we nodiscontinue ~~longer derive any revenues from this business. From~~ the ~~Transaction~~development ~~Date throughout the balance~~ of ~~2009~~ our ~~current~~MMO ~~management~~and ~~has~~any ~~been~~other ~~engaged~~technologies inand ~~negotiating~~on ~~the~~August ~~potential~~27, ~~purchase~~2010 ~~or an exclusive licensing arrangement of certain technology from Idea Fabrik SA~~ (the “~~Idea~~Transaction ~~Fabrik~~Date”), ~~domiciled~~our inprincipal ~~Luxembourg.~~shareholder Weand ~~have~~Chairman, ~~not~~Oleksandr ~~concluded~~Shalash ~~that transaction~~(“Mr. ~~That technology~~Shalash”), ifas ~~purchased~~well oras ~~licensed~~all byof ~~us,~~our isremaining ~~intended~~officers toand ~~serve~~directors asvoluntarily ~~the~~resigned ~~foundation~~from ~~platform~~their ~~for~~respective ~~the~~positions ~~development~~effective ofas ~~a range~~ of ~~Massively~~the ~~Multiplayer~~Transaction ~~Online~~Date. On ~~("MMO"),~~the ~~virtual~~Transaction ~~reality experiences for on-line internet entertainment~~Date, ~~education~~Mr. ~~and~~Shalash ~~social~~ and ~~business~~Ivan ~~interactive~~Hrubi ~~purposes~~(“Mr. If weHrubi”), doour ~~not~~two ~~execute~~(2) aprincipal ~~license or purchase the technology from Idea Fabrik~~shareholders, wegranted ~~may~~options ~~have~~ to ~~abandon~~approximately ~~our~~fifteen ~~product~~(15) ~~development~~investors ~~strategy~~to oracquire ~~extend~~all ~~our~~of ~~development~~the ~~timeline. We are also engaged in conceptual product design~~16, ~~market analysis~~000,000 ~~detailed~~shares ~~business~~they ~~plan~~owned. In ~~development~~addition, ~~and~~Messrs. ~~testing~~Shalash and ~~evaluation~~Hrubi ofgranted ~~some~~proxies ofto ~~the~~William ~~additional~~G. ~~technologies~~Forhan ~~we believe will be required~~ to ~~develop~~vote ~~our~~their ~~potential product offerings~~shares. WeAll ~~have~~of ~~been~~our ~~using~~assets aheld ~~development~~as ~~license~~of ~~we purchased in~~ the ~~second~~Transaction ~~half~~Date ofwere ~~2009~~transferred inand ~~order~~delivered to ~~create~~Idea ~~prototypical~~Fabrik ~~demonstration~~in ~~models~~consideration offor ~~specific~~its ~~elements~~agreement ofto ~~our~~cancel ~~intended~~certain ~~products. The~~debts ~~term~~ of ~~that~~the ~~development~~Company, ~~license~~which ~~expired~~were ~~and~~evidenced weby ~~currently~~promissory donotes ~~not~~held ~~expect~~by toIdea ~~be able to secure extension or renewal~~Fabrik. ~~Recently,~~Idea weFabrik ~~have~~also ~~had~~agreed to ~~reduce~~assume ~~significantly~~other ~~the~~debts ~~level~~ of ~~activity~~the inCompany ~~all~~that ~~these~~were ~~areas~~owed ~~due~~ to ~~capital~~a ~~constraints~~former director. AsOn ~~and from~~ the Transaction Date, we ~~are~~received ~~currently~~ a ~~development~~signed ~~stage~~general ~~company~~release ~~and~~for ~~have~~each ~~not~~debt ~~recorded~~that ~~any~~was ~~revenues~~either tocancelled ~~date~~or assumed by Idea Fabrik.

We have executive management with more than a decade of micro-cap, public company experience. In addition we have retained a core consulting team in Austin, Texas with strong industry specific credentials. This team is engaged in designing the detailed product development plan, conducting target market evaluations and negotiating the purchase or license of Virtual World Core from Idea Fabrik and leading the development and production of our prototype demonstration models.

We are continuing to take steps to assemble an advisory board of leaders in the MMO, Virtual World, and Digital Media disciplines. We expect this board to play a critical role in helping us develop the full vision of our product strategy and to guide our execution along the way.

Results of Operations – For the Year Ended December 31, 2009 as Compared to the Year Ended December 31, 2008

Effective on the Transaction Date, we discontinued our IT services business and our reported operating results for 2009 and 2008 reflect the operating results for this business as discontinued operations.

For 2009, we recorded a net loss of $719,584, comprised of a loss from continuing operations of $706,961 and a loss from discontinued operations, net of tax, of $12,623. The loss from continuing operations primarily reflects operating expenses for the period from the Transaction Date through December 31, 2009 (approximately seven months), as we have reported no revenues from our current operations since inception as a development stage company. For 2009, our loss from continuing operations was comprised of general and administrative expenses primarily related to consulting services and software development. For 2008, our net loss was comprised of loss from discontinued operations, net of tax, of $9,823.

Liquidity and Capital Resources

Our consolidated financial statements as presented in Item 15 of this report have been prepared in conformity with US GAAP, which contemplate our continuation as a going concern. However, the report of our independent registered public accounting firm on our consolidated financial statements, as of and for the year ended December 31, 2009, contains an explanatory paragraph expressing substantial doubt as to our ability to continue as a going concern. The “going concern” qualification results from, among other things, our development-stage status, the lack of any revenue recognized since inception and our net losses from inception as a development stage company, which total approximately $676,000, and the outstanding and currently anticipated contractual commitments under notes payable arrangements with related parties. Our consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary if we were unable to continue as a going concern.

As of December 31, 2009, we had $99,174 in cash and, since the Transaction Date, have funded our operations exclusively through short-term notes payable with related parties. The capital required to execute our total business vision and objectives is significant. During the second half of 2009 and continuing into 2010 we were engaged in efforts to raise capital to fund the working capital requirements and product development necessary to meet our product business objectives. At present, we have been unsuccessful in raising capital in sufficient amounts to meet those objectives. We recently have had to reduce significantly our development activities in order to conserve cash. At this time, there is no assurance that we will be successful in raising the sufficient additional capital that is required to execute our product development and commercialization plans.

Note payable agreements

On June 29, 2009, we executed two unsecured note payable agreements in the principal amounts of $33,000 and $17,000, respectively, with one of the directors on our Board (the “Director Investor”). These notes bear interest at the rate of 8% per annum and all principal and accrued interest are due on June 29, 2010.

On July 8, 2009, we executed an unsecured note payable in the principal amount of $25,000 with the Director Investor. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on July 8, 2010.

On August 11, 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on August 11, 2010.

On August 25, 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on August 25, 2010.

On September 28, 2009, we executed an unsecured note payable in the principal amount of $200,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on September 28, 2010.

On September 30, 2009, we executed an unsecured note payable in the principal amount of $50,000 with the Director Investor. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on September 30, 2010.

On September 30, 2009, we executed an unsecured note payable in the principal amount of $17,700 with Idea Fabrik. This note bears interest at the rate of eight percent (8%) per annum and all principal and accrued interest are due on September 30, 2010.

On October 2, 2009, we executed an unsecured note payable in the principal amount of $8,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on October 2, 2010.

On November 30, 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on November 30, 2010.

On December 24, 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on December 24, 2010.

In February 2010, we executed an unsecured note payable in the principal amount of $50,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due in February 2011.

~~Cash~~Effective as of the Transaction Date, a new Board of Directors was elected by a majority of shareholders and ~~Cash~~was ~~Flows~~comprised of William G. Forhan, Robert Kuechenberg, Brad Shrader and Steven York. The newly elected Board of Directors then appointed Mr. Forhan to serve as our Chief Executive Officer and Chief Financial Officer and appointed Mr. Shrader as our Chief Operating Officer (“COO”). On the Transaction Date, we issued a total of 60,000,000 new shares from our treasury to Mr. Forhan (20,000,000 shares), Ralph Oelbermann (20,000,000 shares) and Dewfish and Company (20,000,000 shares) for services provided to us. The issuance of these shares resulted in a change of our control and on the Transaction Date, these three (3) shareholders collectively owned approximately 70.04% of our outstanding shares.

~~Our~~Effective ~~cash~~as ~~and~~of ~~cash~~the ~~equivalents~~Transaction ~~at December 31~~Date, ~~2009~~we ~~were~~changed ~~$99,174~~our asbusiness model ~~compared~~ to ~~$33,979~~become ata ~~December~~repossession ~~31,~~company ~~2008. For~~of ~~the~~motor ~~year ended December 31~~vehicles, ~~2009,~~construction ~~net cash used in operations was $684~~equipment,~~136~~ ~~as compared to net cash used in operations of $12~~watercraft,~~437~~ ~~for~~airplanes ~~the~~and ~~year~~luxury ~~ended December 31, 2008~~assets. ~~For~~On ~~the~~October ~~year ended December 31~~1, ~~2009~~2010, ~~the~~we ~~primary~~also ~~use~~changed ofour ~~cash~~name from ~~operations~~Nasus ~~was the net loss of $719~~Consulting,~~584,~~ ~~which~~Inc. ~~was~~to ~~comprised~~National ofAsset aRecovery ~~loss~~Corporation ~~from~~to ~~continuing~~more ~~operations~~accurately ofassociate ~~$706,961~~our ~~and~~corporate aname ~~loss~~with ~~from discontinued operations, net of tax, of $12,623. For this same year,~~ the ~~primary~~type ~~sources~~ of ~~cash~~business ~~from~~we ~~operations~~are ~~were~~engaged ~~increases~~ in ~~accrued liabilities and accrued interest, which, in the aggregate, were $30,163~~. ~~For~~Our ~~the~~stock ~~year~~symbol ~~ended~~was ~~December~~also ~~31,~~changed ~~2008, the primary use of cash~~ from ~~operations~~NSUS ~~was~~to ~~the~~REPO ~~net~~for ~~loss~~this ofsame ~~$9,823~~reason.

We ~~had~~have noestablished ~~cash~~relationships ~~flows~~with ~~from~~banks ~~investing~~and ~~activities~~other ~~for~~lending ~~years~~institutions ~~ended~~to ~~December~~locate ~~31,~~and ~~2009~~repossess orvarious ~~2008. For~~types ~~the~~of ~~year~~collateral ~~ended~~from ~~December 31~~individuals, ~~2009,~~companies ~~net~~and ~~cash~~other ~~provided~~parties bywho ~~financing~~have ~~activities~~defaulted ~~was~~on ~~$749,331~~purchase or lease obligations. Through marketing and ~~was~~advertising ~~comprised~~efforts, ofwe ~~cash~~intend ~~proceeds~~to ~~from~~increase ~~notes~~our ~~payable~~client ofbase ~~$750,700~~and ~~less~~perform aasset ~~distribution~~repossession ofservices ~~cash~~throughout ofthe $1United States. In addition,~~369~~ we intend to ~~former~~expand ~~common~~our ~~stockholders. We~~operations ~~had~~through nostrategic ~~cash~~partnerships ~~flows~~with ~~from~~other ~~financing~~repossession ~~activities~~companies ~~for~~and ~~the~~acquisitions ~~year~~in ~~ended~~hopes ~~December~~of ~~31,~~establishing ~~2008~~a national brand.

~~Contractual~~On ~~Obligations~~October 19, 2010, we acquired all of the assets and assumed certain liabilities of Advanced Recovery of Florida, a sole proprietorship, from Michael James Blackburn through an Asset Purchase Agreement for 625,000 shares of our common stock and other consideration.

~~Our~~Commencing ~~current~~in ~~obligations~~December ~~are~~2010, ~~notes~~we ~~payable~~experienced ~~with~~significant ~~related~~changes ~~parties~~to ~~that~~our ~~bear~~management. As ~~interest~~discussed atelsewhere ~~8%,~~in ~~compounded~~this ~~quarterly~~Annual Report, Mr. ~~All~~ ~~notes~~Shrader ~~are~~was ~~due~~terminated as our COO and also removed as a Director on orDecember ~~before~~16, 2010, due to disagreements he had with other members of management. On December 3116, 2010, a majority of our shareholders also caused Mr. Forhan to be removed from the Board of Directors and ~~are~~elected ~~listed~~William ~~below:~~A. Glynn and Bradley Wilson as new Directors. Following these events, Mr. Forhan assumed the responsibilities of our COO and Mr. Glynn became our new Chief Executive Officer, Chief Financial Officer and Treasurer. Mr. Wilson became Chairman of our Board of Directors and was also appointed to serve as our Secretary.

Note Holder	Principal plus Accrued Interest		Due Date
Director investor	$	34,363	June 29, 2010
Director investor		17,702	June 29, 2010
Director investor		25,994	July 8, 2010
Director investor		51,022	September 30, 2010
		129,081
Idea Fabrik		103,201	August 11, 2010
Idea Fabrik		102,884	August 25, 2010
Idea Fabrik		204,225	September 28, 2010
Idea Fabrik		18,062	September 30, 2010
Idea Fabrik		8,160	October 2, 2010
Idea Fabrik		100,689	November 30, 2010
Idea Fabrik		100,044	December 24, 2010
		637,265
	$	766,346

~~Critical~~RESULTS ~~Accounting~~OF ~~Policies~~OPERATIONS – FOR THE YEAR ENDED DECEMBER 31, 2010 AS COMPARED TO THE YEAR ENDED DECEMBER 31, 2009

WeOn ~~prepare~~the ~~our~~Transaction ~~financial~~Date, ~~statements~~we inceased ~~accordance~~all ~~with~~activity USon ~~GAAP. Our~~the ~~significant~~development ~~accounting~~of ~~policies~~MMO and ~~estimates~~other ~~are~~related ~~disclosed~~technology inproducts ~~the~~and ~~notes~~changed our business model to ~~our~~become ~~consolidated~~a ~~financial~~repossession ~~statements~~company ~~contained~~of inmotor ~~this~~vehicles, ~~report~~construction equipment, boats, airplanes and other luxury assets. ~~Currently~~Previously, on May 27, 2009, we discontinued our ~~business~~IT isservices inbusiness. As ~~development~~a ~~stage~~result, ~~and~~our ~~the~~reported ~~number~~operating ofresults ~~accounting~~for ~~transactions~~both ~~has~~of ~~been~~2010 ~~minimal,~~ and ~~involved~~2009 ~~primarily~~reflect the ~~recording~~operating ofresults ~~operating~~for ~~expenses~~both ~~and~~of ~~interest~~these ~~bearing~~businesses ~~notes~~as ~~payable~~discontinued operations.

~~ITEM~~For 7A2010, we recorded a net loss of $670,105 comprised as a loss from continuing operations of $570,341 and a loss of $99,764 attributable to income expense. ~~QUANTITATIVE~~The ~~AND~~losses ~~QUALITATIVE~~from ~~DISCLOSURES~~continuing ~~ABOUT~~operations ~~MARKET~~and ~~RISK~~income expense primarily reflect operating expenses and a failed stock investment for the period from the Transaction Date (August 27, 2010) through December 31, 2010 (approximately five (5) months), as we have reported limited revenues from our operations since the Transaction Date of approximately $105,333. We had no losses or gains due to the change of our business model as a repossession company effective as of the Transaction Date. For 2010, our loss from operations was comprised of general and administrative expenses related to our repossession business and our loss related to income expense is more fully described in Item 13 of this Annual Report.

AsFor 2009, we recorded a ~~smaller~~net ~~reporting~~loss ~~company~~of $719,584, wecomprised ~~are~~of ~~not~~a ~~required~~loss tofrom ~~provide~~continuing operations of $706,961 and a loss from discontinued operations, net of tax, of $12,623. The loss from continuing operations reflects operating expenses for the ~~information~~period ~~under~~from May 27, 2009 through December 31, 2009 (approximately seven months), as we reported no revenues from our operations during this ~~item~~period since we were a development stage company. For 2009, our loss from continuing operations was comprised of general and administrative expenses primarily related to consulting services and software development.

LIQUIDITY AND CAPITAL RESOURCES

Our consolidated financial statements as presented in Item 15 of this Annual Report have been prepared in conformity with US GAAP, which contemplate our continuation as a going concern. However, the report of our independent registered public accounting firm on our consolidated financial statements, as of and for the year ended December 31, 2010, contains an explanatory paragraph expressing substantial doubt as to our ability to continue as a going concern. The “going concern” qualification results from, among other things, our working capital deficiency, stockholder’s deficiency and our significant operating losses since the Transaction Date, which total approximately $570,341. Our consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary if we were unable to continue as a going concern.

As of December 31, 2010, we had $7,369 in cash and, since the Transaction Date, have funded our operations with capital raised through a private offering of our equity securities, which after the deduction of offering related expenses, netted us $732,145 and revenues we generated from operations that commenced in November 2010 of approximately $105,333. The capital required to execute our total business vision and objectives is significant and the revenues we currently produce from operations are not sufficient to satisfy our operating expenses or establish adequate working capital reserves to provide for future contingencies. Since January 1, 2011, we have depended and shall continue to depend on related party loans to satisfy our working capital needs and operating expenses. We have recently streamlined our staff to improve efficiencies in the way orders are processed and taken other steps to reduce overhead expense. At this time, however, there is no assurance that we will be successful in generating sufficient revenues from operations or raising additional capital that is required to execute our business objectives.

NOTE PAYABLE AGREEMENTS

On January 4, 2011, we executed an unsecured note payable in the principal amount of $31,690.59 with York & Kassing Services, Ltd. The note bears interest at the rate of five percent (5%) per annum and all principal and accrued interest are due on January 4, 2012.

On February 7, 2011, we executed an unsecured note payable in the principal amount of $40,150.66 with York & Kassing Services, Ltd. The note bears interest at the rate of five percent (5%) per annum and all principal and accrued interest are due on February 7, 2012.

On March 28, 2011, we executed an unsecured note payable in the principal amount of $89,124.38 with York & Kassing Services, Ltd. The note bears interest at the rate of five percent (5%) per annum and all principal and accrued interest are due on March 28, 2012.

CASH AND CASH FLOWS

Our cash and cash equivalents at December 31, 2010, were $7,369 as compared to $99,174 at December 31, 2009. For the year ended December 31, 2010, net cash used in operations was $737,885 as compared to net cash used in operations of $684,136 for the year ended December 31, 2009. For the year ended December 31, 2010, the primary use of cash from operations was the net loss of $670,105 which was comprised of a loss from continuing operations of $570,341 and a loss attributed to income expense of $99,764. For this same year, the primary sources of cash from operations were derived from revenues generated through our repossession business in the amount of $105,333 and interest income in the amount of $236. For the year ended December 31, 2009, the primary use of cash from operations was the net loss of $719,584, which was comprised of a loss from continuing operations of $706,961 and a loss from discontinued operations, net of tax, of $12,623. For this same year, the primary sources of cash from operations were increases in accrued liabilities and accrued interest of, which, in the aggregate, were $30,163. During 2009, we were a development stage company and had no revenues.

On September 1, 2010, we purchased 400,000 common shares at a cost of $100,000 from Casino Players, Inc. (“CPI”), a publicly traded company that William G. Forhan, our former Chief Executive and Financial Officer, was and continues to be affiliated with. The common shares currently have no value and we cannot predict whether the common shares will ever have any value. As a result, we have elected to fully impair the value of the CPI shares. We had no cash flows from investing activities for year ended December 31, 2010 or 2009. For the year ended December 31, 2010, net cash provided by financing activities was $732,145 and was comprised of net cash proceeds received from the sale of 3,020,360 shares on August 27, 2010 to fifteen (15) shareholders. The offer and sale of these shares was made in reliance on an exemption from registration provided under Regulation S of the Act. For the year ended December 31, 2009, net cash provided by financing activities was $749,331 and was comprised of cash proceeds from notes payable of $750,700 less a distribution of cash of $1,369 to former common stockholders.

CONTRACTUAL OBLIGATIONS

Our current obligations are notes payable to a related party that bear interest at five percent (5%) per annum. The due dates for the notes are listed below:

Note Holder	Principal Amount	Due Date
York & Kassing Services, Ltd.	$31,690.59	January 4, 2012
York & Kassing Services, Ltd.	$40,150.66	February 7, 2012
York & Kassing Services, Ltd.	$89,124.38	March 28, 2012

CRITICAL ACCOUNTING POLICIES

We prepare our financial statements in accordance with US GAAP. Our significant accounting policies and estimates are disclosed in the notes to our consolidated financial statements contained in this Annual Report. Currently, our business is in the early stages of operations, and the number of accounting transactions has been minimal, and involved primarily the recording of operating expenses we incurred and revenues we have derived.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a smaller reporting company, we are not required to provide the information under this item.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

Our consolidated financial statements are included as a separate section of this ~~report~~Annual Report beginning on page F-1 immediately following the signature page to this ~~report~~Annual Report. As a smaller reporting company, we are not required to provide the “Supplementary Data” financial information under this item.

As a smaller reporting company, we are not required to provide the “Supplementary Data” financial information under this item.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING FINANCIAL DISCLOSURES.

On August 3, 2009, the Board of Directors of the ~~Registrant~~Company was notified that Moore & Associates Chartered (“Moore”), its Certifying Accountants, had resigned because of its decision to no longer be engaged in auditing or reviewing public company financial statements. On August 6, 2009, the Board of Directors of the ~~Registrant~~Company engaged Seale and Beers, CPAs (“Seale and Beers”) as its Certifying Accountants. As of that date, ~~Seal~~Seale and Beers formally accepted us as a client for our financial statements for the quarterly period ended June 30, 2009. Moore rendered an opinion on our financial statements for the year ended December 31, 2008.

There were no disagreements between us and Moore within the last two years and through August 3, 2009, with respect to our accounting principles or practices, financial statement disclosure or audit scope or procedure, which, if not resolved to the former Certifying Accountant's satisfaction, would have caused them to make reference to the subject matter of the disagreement in connection with their report. The report of Moore on the Company's financial statements for the year ended December 31, 2008 did not contain an adverse opinion or disclaimer of opinion, or was qualified or modified as to uncertainty, audit scope or accounting principles. During the registrant's two most recent fiscal years and the subsequent interim periods thereto, there were no disagreements with Moore whether or not resolved, on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to Moore's satisfaction, would have caused it to make reference to the subject matter of the disagreement in connection with its report on the Registrant's financial statements.14

OnThere ~~September~~were 1,no ~~2009~~disagreements between us and Moore within the ~~SEC~~two ~~notified~~(2) usyears ~~that~~leading onup to and through August 273, 2009, ~~the~~with ~~Public~~respect ~~Company~~to ~~Accounting~~our ~~Oversight~~accounting ~~Board~~principles ~~("PCAOB")~~or ~~revoked~~practices, ~~the~~financial ~~registration~~statement ofdisclosure ~~Moore~~or ~~because~~audit ofscope ~~violations~~or ofprocedure, ~~PCAOB~~which, ~~rules~~if ~~and~~not ~~auditing~~resolved ~~standards~~to inthe ~~auditing~~former ~~the~~Certifying ~~financial~~Accountant's ~~statements~~satisfaction, ~~PCAOB~~would ~~rules~~have ~~and~~caused ~~quality~~them ~~controls~~to ~~standards,~~make ~~and~~reference ~~Section~~to ~~10(b) of~~ the ~~Securities~~subject ~~Exchange~~matter ~~Act~~ of ~~1934~~the ~~and~~disagreement ~~Rule~~in ~~10b-5~~connection ~~thereunder,~~with ~~and~~their report. Prior to Moore’s ~~noncooperation~~resignation ~~with~~on aAugust ~~Board~~3, ~~investigation. Further~~2009, ~~the~~there ~~SEC~~were ~~informed~~no usdisagreements ~~that~~between ifthe ~~Moore~~Company ~~audited~~and aMoore ~~year~~whether ~~that~~or wenot ~~are~~resolved, ~~required~~on toany ~~include~~matter inof ~~our~~accounting ~~filings~~principles ~~then~~or wepractices, ~~are~~financial ~~required~~statement todisclosure, ~~engage~~or aauditing ~~firm~~scope ~~that~~or isprocedure, ~~registered~~which, ~~with~~if ~~the~~not ~~PCAOB~~resolved to ~~re-audit~~Moore's ~~that year. Accordingly~~satisfaction, ~~our~~would ~~financial~~have ~~statements~~caused asit ofto ~~and~~make ~~for~~reference to the ~~year~~subject ~~ended~~matter ~~December~~of ~~31,~~the ~~2008~~disagreement asin ~~contained~~connection inwith ~~this~~its report, ~~have~~on ~~been~~the ~~audited~~Company's byfinancial ~~Seal and Beers~~statements.

~~During~~On ~~the~~September ~~two~~1, ~~most~~2009 ~~recent~~the ~~fiscal~~SEC ~~years~~notified ~~and~~us ~~through~~that on August 627, 2009, ~~Seal~~the Public Company Accounting Oversight Board ("PCAOB") revoked the registration of Moore because of violations of PCAOB rules and ~~Beers~~auditing ~~CPAs~~standards ~~has~~in ~~not~~auditing ~~been~~the ~~engaged~~financial asstatements, ~~either~~PCAOB rules and quality controls standards, and Section 10(b) of the ~~principal~~Securities ~~accountant~~Exchange Act of 1934 and Rule 10b-5 thereunder, and Moore’s noncooperation with a PCAOB investigation. Further, the SEC informed us that if Moore audited a year that we were required to ~~audit~~include in our ~~financial~~filings ~~statements,~~then ~~nor~~we aswere anrequired ~~independent~~to ~~accountant~~engage a firm that is registered with the PCAOB to re-audit ~~any~~that ~~significant~~year. Accordingly, ~~subsidiary~~our financial statements as of and ~~has~~for ~~not~~the ~~been~~year ~~consulted~~ended ~~regarding:~~December 31, 2008, were re-audited by Seale and Beers.

~~(i)~~During the ~~application~~two ofmost ~~accounting~~recent ~~principles~~fiscal years leading up to aand ~~specified~~through ~~transaction~~August 6, ~~either~~2009, ~~completed~~Seale orand ~~proposed;~~Beers orCPAs ~~the~~had ~~type~~not ofbeen ~~audit~~engaged ~~opinion~~as ~~that~~either ~~might~~the beprincipal ~~rendered~~accountant onto audit our financial statements, ~~and~~nor noas ~~written~~an ~~reports~~independent ~~were~~accountant ~~provided~~ to usaudit orany ~~oral~~significant ~~advice~~subsidiary ~~was provided that Seal~~ and ~~Beers~~had ~~CPAs~~not ~~concluded~~been ~~was~~consulted ~~an important factor considered by us in reaching a decision as to the accounting, auditing or financial reporting issue; nor~~regarding:

(iii) ~~any~~the ~~matter~~application ~~that~~of ~~was~~accounting principles to a specified transaction, either completed or proposed; or the ~~subject~~type of aaudit ~~disagreement~~opinion ~~(as~~that ~~defined~~might inbe ~~paragraph~~rendered ~~304(a)(1)(iv)~~on our financial statements, and ~~the~~no ~~related~~written ~~instructions~~reports towere ~~this~~provided ~~item)~~to us or aoral ~~reportable~~advice ~~event~~was ~~(as~~provided ~~described~~that Seale and Beers CPAs concluded was an important factor considered by us in ~~paragraph~~reaching ~~304(~~a~~)(1)(iv)).~~ decision as to the accounting, auditing or financial reporting issue; nor

13(ii) any matter that was either the subject of a disagreement (as defined in paragraph 304(a)(1)(iv) of Regulation S-K and the related instructions to this item) or a reportable event (as described in paragraph 304(a)(1)(v) and paragraphs (A) through (D) of Regulation S-K).

Thereafter, the firm of Seale and Beers continued to act as our independent registered public accounting firm until November 4, 2010, when we received notice that Seale and Beers was resigning, effective as of that date. Seale and Beers stated that it was resigning because we filed our quarterly report on Form 10-Q for quarter ending September 30, 2010 without Seale and Beers’ review.

From the date on which Seale and Beers was engaged in August 2009 until the date of Seale and Beers’ resignation on November 4, 2010, there were no disagreements with Seale and Beers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Seale and Beers would have caused them to make reference to the subject matter of the disagreements in connection with any reports it would have issued, and there were no “reportable events” of the nature described in Item 304(a)(1)(v), paragraphs (A) through (D) of Regulation S-K.

On November 8, 2010, we engaged Malcolm L. Pollard, Inc. (“Pollard”) as the Company’s independent public accountants. Pollard was engaged to audit the Company’s financial statements for the fiscal year ending December 31, 2010, and to review the Company’s unaudited financial statements for interim periods, commencing with the quarter ended September 30, 2010.

During the two (2) most recent fiscal years, neither the Company nor anyone on its behalf consulted Pollard regarding either (i) the application of accounting principles to a specific completed or contemplated transaction, or the type of audit opinion that might be rendered on the Company’s financial statements; and no written or oral advice was provided that Pollard concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issues; or (ii) any matter that was a subject of disagreement (as defined by paragraph 304(a)(1)(iv) of Regulation S-K) or a reportable event (as defined by paragraph 304(a)(1)(v) and paragraphs (A) through (D) of Regulation S-K).

ITEM 9A(T). CONTROLS AND PROCEDURES.

~~Disclosure~~DISCLOSURE ~~Controls~~CONTROLS ~~and~~AND ~~Procedures~~PROCEDURES

We are responsible for establishing and maintaining disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive and Financial Officer (the “Certifying Officer”) to allow timely decisions regarding required disclosure.

Our Certifying Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of December 31, ~~2009~~2010. Based on this evaluation, our Certifying Officer concluded that our disclosure controls and procedures were effective as of this date.

~~Internal~~INTERNAL ~~Control~~CONTROL ~~over~~OVER ~~Financial~~FINANCIAL ~~Reporting~~REPORTING

Management of the Company, including our Certifying Officer, is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) of the ~~Securities~~ Exchange Act ~~of 1934, as amended~~. The Company’s internal controls were designed to provide reasonable assurance as to the reliability of its financial reporting and the preparation and presentation of the consolidated financial statements for external purposes in accordance with accounting principles generally accepted in the United States. Management has used the framework set forth in the report entitled Internal Control — Integrated Framework published by the Committee of Sponsoring Organizations of the Treadway Commission to evaluate the effectiveness of the Company’s internal control over financial reporting. Management has concluded that the Company’s internal control over financial reporting was effective as of March 31, 2010.

Our management, including our Certifying Officer, believes that our internal controls over financial reporting are designed and operated to be effective at the reasonable assurance level. However, our management does not expect that our internal controls over financial reporting will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the controls. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected.

This ~~annual~~Annual ~~report~~Report ~~does~~includes ~~not include~~ an attestation report of the ~~company~~Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the company's registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the company to provide only management's report in this annual report.

There was no change in our internal control over financial reporting during the ~~quarter~~year ended December 31, ~~2009~~2010, that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B. OTHER INFORMATION.

None.

1416

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

The following table sets forth the names and ages of each of our directors and executive officers as of ~~April~~March 925, ~~2010~~2011:

Name	~~Age~~	~~Positions and Offices to be held~~Age	Positions and Offices to be held
Oleksandr Shalash	40	Chairman
Bradley Wilson		52	Chairman, Secretary
John Jenkins	60	Chief Executive and Chief Financial Officer and Director
William A. Glynn		64	Chief Executive Officer, Chief Financial Officer, Treasurer and Director
Thomas Kellgren	57	Director
Robert Ogden	49	Treasurer and Secretary

Each member of our Board of Directors shall serve until the next annual meeting of our shareholders unless removed prior to that time or unless a member should voluntarily resign or be unable to serve due to death or disability. Thereafter, it is expected that directors will be elected for one-year terms at our annual stockholders’ meeting. Officers will hold their positions at the discretion of our ~~board~~Board of ~~directors~~Directors, absent any employment agreement, of which none currently exists or is contemplated. Except for the plan described herein, there is no arrangement or understanding between any of our directors or officers and any other person pursuant to which any director or officer was or is to be selected as a director or officer, and there is no arrangement, plan or understanding as to whether non-management shareholders will exercise their voting rights to continue to elect the current directors to our ~~board~~Board. There are also no arrangements, agreements or understandings between non-management shareholders and management under which non-management shareholders may directly or indirectly participate in or influence the management of our affairs. As of the date of this Annual Report, there are three open seats to the Board of Directors, which shall be filled either through appointment by the current Board members or elected at the next annual meeting of shareholders.

Information concerning our directors and our executive officers is set forth below:

~~Oleksandr~~Bradley ~~Shalash~~Wilson was elected as the Chairman of our Board of Directors on ~~May~~December 2716, ~~2009. Mr.~~2010, ~~Shalash~~and iswas asubsequently ~~partner~~appointed ~~with~~as ~~Bellevue~~Secretary. Mr. ~~Management,~~Wilson ahas ~~Swiss~~over ~~asset~~20 ~~management~~years ~~company,~~of ~~where~~experience hein isbusiness ~~responsible~~planning ~~for~~and ~~emerging~~structure, ~~market~~mergers, ~~investments. From~~acquisitions ~~2007~~and toreorganizations ~~2009,~~both hewithin ~~served as~~ the ~~Managing~~United ~~Director~~States and ~~Senior~~Europe. He ~~Advisor~~has ~~for~~also ~~the~~been ~~emerging~~involved ~~market~~as ~~equities~~a ~~division~~consultant ofto ~~Bank~~a ~~Julius~~number ~~Baer,~~of ~~which~~start-up ~~is headquartered in Zurich, Switzerland~~businesses. ~~Between 1998 and 2009,~~ Mr. ~~Shalash~~Wilson ~~held~~has abeen ~~number~~employed ofas ~~positions~~a ~~with~~registered ~~the~~securities ~~asset~~representative ~~management~~ and ~~equity~~also ~~research~~has ~~departments~~extensive atexperience ~~large financial institutions located~~ in ~~London~~the sale and ~~Zurich,~~development ~~Switzerland,~~of ~~including~~commercial ~~Lehman~~real ~~Brothers International Holdings, SwissCanto and Bank Julius Baer~~estate.

~~John~~William ~~Jenkins~~A. Glynn was elected as a Director ~~and~~on ~~was~~December 16, 2010 and subsequently appointed as the Chief Executive ~~Officer~~Offer, ~~and~~ Chief Financial Officer onand ~~May~~Treasurer ~~27,~~for ~~2009~~the Company. Mr. ~~Jenkins~~Glynn ishas aover ~~principal~~31 ~~with~~years ~~Princeton~~in ~~Partners~~the banking business and from 2007 until 2009, ~~LLC~~served as the Senior Vice-President of Business Integration for R-G Crown Bank located in Casselberry, anFlorida, ~~organization~~where ~~that~~his ~~provides~~responsibilities ~~corporate~~included ~~governance~~the merger and ~~consulting~~conversion ~~services~~of toCrown ~~private~~Bank’s ~~and~~internal ~~public~~system ~~companies~~with those of Fifth Third Bank. ~~From~~Between 2001 toand ~~2007~~2006, Mr. ~~Jenkins~~Glynn was employed by Fidelity National Information System where he held management positions for the ~~Chairman~~software development and ~~Chief~~client ~~Executive~~services ~~Officer~~divisions. Mr. Glynn also holds a mortgage broker’s license for ~~SAN~~the ~~Holdings~~State ~~(OTC-BB~~of ~~SANZ),~~Florida and a ~~data~~Bachelor ~~storage~~of ~~solutions~~Science ~~provider~~degree in accounting from Florida Technological University that he earned in 1971.

~~Thomas~~BOARD Kellgren was appointed as a Director on May 27, 2009. Mr. Kellgren is a regional Vice President with Allied Solutions, LLC where his responsibilities include servicing client relationships he had previously developed and also soliciting new clients for insurance products and services. In 1998, Mr. Kellgren formed CU Insurance Professionals, Inc., (“CUP”) a privately held company to sell insurance products and services to credit unions. Mr. Kellgren sold CUP to Allied Solutions, LLC in 2006.COMMITTEES

Robert Ogden was appointed Treasurer and Secretary on May 27, 2009. Mr. Ogden also currently serves as the Chief Financial Officer, Treasurer and Secretary to Omni Bio Pharmaceutical, Inc. (OMBP.OB), a development-stage biotechnology company that has been advancing broad spectrum therapeutics targeting bacterial and viral diseases, biohazards, diabetes and transplant rejection. From 2007 to 2009, he provided financial consulting and reporting services for public and private companies. From 2004 to 2007, Mr. Ogden served as the Chief Financial Officer, Treasurer and Secretary of SAN Holdings (SANZ.OB), a data storage solutions provider, and was responsible for all administrative and finance functions. Mr. Ogden is a Certified Public Accountant in Colorado.

Board Committees

We do not currently have an audit committee or an "audit committee financial expert," as due to the limited size of our current business operations, we have not deemed it necessary. We also do not have compensation or nominating committees.

~~Compliance with Section 16(a) of the Securities Exchange Act of 1934~~17

~~Section~~COMPLIANCE ~~16(a)~~WITH ofSECTION the Exchange Act requires our officers and directors, and persons who own more than 10% of a registered class of our equity securities, to file initial reports of ownership and reports of changes in ownership with the SEC. Such persons are required by SEC rules to furnish us with copies of all Section 16(aA) ~~forms~~OF ~~they~~THE ~~file. Based~~SECURITIES ~~solely~~EXCHANGE onACT ~~our~~OF review of the copies of such forms we have received and representations from certain reporting persons regarding their compliance with the relevant filing requirements, we believe that all filing requirements applicable to our officers, directors and 10% shareholders were complied with during the fiscal year ended December 31,2009 except as noted below:1934

·Section ~~Oleksandr~~16(a) ~~Shalash,~~of ~~John~~the ~~Jenkins~~Exchange Act requires our officers and ~~Thomas~~directors, ~~Kellgren~~and ~~failed~~persons towho ~~file~~own amore ~~Form~~than 310% -of ~~Initial~~a ~~Statement~~registered class of ~~Beneficial~~our ~~Ownership~~equity securities, to ~~report~~file ~~their~~initial reports ~~appointment~~of asownership ~~directors~~and reports of changes in ownership with the ~~Company~~SEC. Such Itpersons isare ~~expected~~required by SEC rules to furnish us with copies of all Section 16(a) forms they file. Based solely on our review of the copies of such forms we have received and representations from certain reporting persons regarding their compliance with the relevant filing requirements, we believe that ~~those~~all filing requirements applicable to our officers, directors ~~will~~and ~~make~~10% shareholders were ~~their~~complied ~~filings~~with induring the fiscal year ended December 31,2010., except as noted below:

~~Code~~· William G. Forhan, Brad Shrader, Steven York and Robert Kuechenberg each failed to file a Form 3 – Initial Statement of ~~Ethics~~Beneficial Ownership to report their ownership of shares as Directors to the Company. As disclosed elsewhere in this Annual Report, all of these individuals have either resigned or been removed from the Board of Directors, which we believe now eliminates the requirement for them to file Form 3 reports as Directors. Mr. Forhan is currently our only beneficial shareholder and we believe this filing deficiency will be cured during 2011.

WeCODE ~~have~~OF a Code of Ethics for our directors and officers, and it governs the manner in which we conduct our business. We will provide to any person, without charge, upon request, a copy of such code of ethics. Requests should be made by submitting a request in writing to the company at 258 Southhall Lane, Suite 420, Maitland, FL 32751, Attention: John Jenkins.ETHICS

We have a Code of Ethics for our directors and officers, and it governs the manner in which we conduct our business. We will provide to any person, without charge, upon request, a copy of such code of ethics. Requests should be made by submitting a request in writing to the Company at 9000 Burma Road, Suite 103, Palm Beach Gardens, Florida 33403, Attention: William A. Glynn.

ITEM 11. EXECUTIVE COMPENSATION.

The follow table sets forth certain information relating to compensation paid by us for each of our last two fiscal years to our principal executive officer, financial officer and any other executive officer whose annual compensation exceeded $100,000 for the most recently completed fiscal year (the “Named Executive Officers”). Only those columns which applicable to compensation paid to our Named Executive Officers have been provided in the table.

~~Summary Compensation Table~~18

Summary Compensation Table

Name and Principal Position	~~Fiscal Year~~	~~Salary~~Fiscal ~~($)~~Year	~~Stock Awards (1) ($)~~	~~Option Awards (1) ($)~~	~~All Other Compensation ($)~~Salary	~~Total ($)~~	Stock Awards			Option Awards			All Other Compensation			Total
John Jenkins (1) Chief Executive and Financial Officer	2009 2008	$- $-	$4,538 $-	$- $-	$68,134 $-	$72,672 $-
William A. Glynn(1) Chief Executive Officer, Chief Financial Officer and Treasurer		2010			$	52,000		-0-			-0-			-0-		$	52,000
Russell Desjourdy (2) Chief Executive and Financial Officer	2009 2008	$- $-	$- $-	$125,000 $270,000	$- $24,000	$125,000 $294,000
William G. Forhan(2) Chief Executive Officer and Chief Financial Officer		2010			$	200,000	$	20,000	(2)		-0-		$	6,000	(2)	$	226,000	(2)
Brad Shrader(3) Chief Operating Officer		2010			$	135,000	$	50	(3)	$	200	(3)	$	6,000	(3)	$	141,250	(3)
John Jenkins(4) Chief Executive Officer and		2010				-0-		-0-			-0-		$	56,560		$	56,560
Chief Financial Officer		2009				-0-	$	4,538			-0-		$	$68,134		$	$68,134
Russell Desjourdy(5)		2009				-0-		-0-		$	125,000			-0-		$	125,000

(1) Mr. ~~Jenkins~~Glynn was appointed as our Chief Executive ~~and~~Officer, Chief Financial Officer and aTreasurer ~~director~~ on ~~May~~December 2716, ~~2009~~2010. Mr. ~~Jenkins~~Glynn isalso areceives principal with Princeton Partners, LLC, whom the Company has engaged as a consultant as its current Chief Executive and Financial Officer. The terms of Mr. Jenkins consulting engagement are for an hourly fee of $160 plus travel and normal business expenses. ~~Mr. Jenkins also received compensation in the form of the Company’s common stock at a price per share that has not been determined.~~

16(2)Mr. Forhan served as our Chief Executive Officer and Chief Financial Officer from August 27, 2010 until December 21, 2010, at which time he resigned. Mr. Forhan then served as Chief Operating Officer from December 21, 2010 until January 11, 2011, at which time he resigned from all positions held with the Company. On the Transaction Date, Mr. Forhan received 20,000,000 shares from the Company for services rendered. The shares were valued also $.001 per share, which represented par value. Mr. Forhan also received a car allowance of $500 per month when he served as our Chief Executive and Financial Officer.

(23) Mr. ~~Desjourdy~~Shrader ~~was~~served as our Chief ~~Executive~~Operating ~~and~~Officer ~~Chief~~from ~~Financial~~August ~~Officer~~27, 2010 until ~~May~~December 2716, ~~2009~~2010, when he ~~resigned~~was ~~from~~terminated. In ~~the~~conjunction ~~Company~~with ashis ~~both~~employment, anMr. ~~officer~~Shrader received 200,000 shares and ~~director. For~~an ~~2009~~option to purchase 50,000 ~~his~~additional ~~salary~~shares isat ~~included~~a upprice toof ~~May~~$.20 ~~27,~~per ~~2009~~share. ~~For~~Mr. ~~2008,~~Shrader ~~other~~also ~~compensation~~received ~~included~~a ~~payments~~car allowance of $24500 per month when he served as our Chief Operating Officer. All shares including shares underlying the options were valued at $.001 per share,~~000~~ ~~made~~which represented par value. Mr. Shrader’s options to purchase shares were cancelled upon his ~~IRA~~termination ~~retirement~~of ~~plan~~employment.

~~Outstanding~~(4)Mr. ~~Equity~~Jenkins ~~Awards~~served atas ~~Fiscal~~our ~~Year-End~~Chief Executive and Financial Officer and a Director from May 27, 2009 until August 27, 2010, when he resigned from all positions he held. For 2010, his salary is included up to August 27, 2010.

As(5)Mr. ofDesjourdy ~~December~~was 31our Chief Executive and Chief Financial Officer from inception until May 27, 2009, wewhen ~~did~~he ~~not~~resigned ~~have~~from ~~any~~the ~~outstanding~~Company ~~equity~~as ~~awards~~both ~~outstanding~~an officer and Director. For 2009, his compensation is included up to May 27, 2009.

~~Employment Arrangements~~19

OnOUTSTANDING ~~January~~EQUITY 1,AWARDS ~~2007,~~AT weFISCAL entered into an employment agreement with Russell R. Desjourdy to serve as our Chief Executive and Chief Financial officer. In 2008, Mr. Desjourdy received a salary of $270,000 per annum plus employee benefits, including health, dental and retirement.YEAR-END

As of December 31, 2010, we did not have any outstanding equity awards outstanding.

EMPLOYMENT ARRANGEMENTS

On May 27, 2009 (the “Transaction Date”), our principal shareholders, Russell R. Desjourdy and Lynn Desjourdy ("Selling Shareholders"), executed an agreement (the “Stock Purchase Agreement”) to sell, transfer, and deliver 16,000,000 (post forward stock split) shares of our common stock representing approximately 71% of the total issued and outstanding shares of our common stock. Under the terms of the Stock Purchase Agreement, each of the Selling Shareholders sold 8,000,000 (post forward stock split) shares of our common stock to two individuals (the "Purchasers") for the total sum of $212,020 that was paid by the Purchasers in cash.

Mr. Desjourdy together with all of our remaining officers and directors voluntarily resigned from their respective offices and positions effective as of the May 27, 2009. Further, and in accordance with the terms and conditions of the Stock Purchase Agreement, Mr. Desjourdy voluntarily resigned from his employment with us and, together with all of our officers, directors, employees and other representatives, executed ana ~~agreement~~general ~~(the~~release ~~“General Release”)~~ in our favor that released and discharged all claims Mr. Desjourdy may have had against us and all amounts that he may have been owed by us. All of our assets were excluded from the Stock Purchase Agreement and were distributed to Mr. Desjourdy as compensation for the voluntary termination of his employment agreement and execution of the ~~General~~general ~~Release~~release.

~~Director~~Following ~~Compensation~~Mr. Desjourdy’s resignation from management, on May 27, 2009, we appointed John Jenkins to serve as our Chief Executive and Financial Officer. For his services, Mr. Jenkins was compensated at a rate of $160 per hour plus travel and other reasonable and necessary business expenses that he incurred.

~~The~~On ~~members~~August of29, 2010 (the ~~Board~~“Transaction ofDate”), ~~Directors~~Mr. ~~are~~Jenkins ~~not~~together ~~presently~~with ~~provided~~all ~~any~~of ~~cash~~our orremaining ~~other~~officers ~~compensation~~and ~~for~~directors ~~attendance~~voluntarily atresigned ~~board~~from ~~meetings~~their respective offices and positions. ~~For~~On ~~2009~~the ~~and~~Transaction ~~2008~~Date, weall ~~did~~of ~~not~~our ~~compensate~~assets ~~our~~were ~~directors~~transferred ~~for~~and ~~their~~assigned ~~services. All~~to ~~directors~~Idea ~~are~~Fabrik ~~reimbursed~~in consideration for ~~ordinary~~the cancellation and ~~necessary~~assumption ~~travel~~of ~~expenses~~certain ~~incurred~~debts and obligations we owed to ~~attend~~both Idea Fabrik and a former director. As part of this transaction, we obtained a signed general release for each ~~board~~debt ~~meeting~~that was cancelled or assumed by Idea Fabrik.

~~Compensation~~On ~~Committee~~the ~~Interlocks~~Transaction Date, we entered into an employment agreement with William G. Forhan to serve as our Chief Executive Officer and ~~Insider~~Chief ~~Participation~~Financial Officer, the term of which was approximately three years ending on July 19, 2013 and subject to renewal or termination with or without cause. Mr. Forhan received an annual base salary of Two Hundred Thousand Dollars ($200,000) per year during the term of his employment, payable in accordance with the Company’s semi-monthly payroll disbursement cycle. Under this agreement, Mr. Forhan was also entitled to be paid a bonus of five percent (5%) of our annual EBITDA, in cash and a $500 monthly car allowance. On December 21, 2010, Mr. Forhan voluntarily resigned from his positions as our Chief Executive and Financial Officer and his employment agreement was effectively terminated. Following this event, Mr. Forhan served as our Chief Operating Officer until January 11, 2011, at which time he also voluntarily resigned from that position. Mr. Forhan had previously been removed as a Director by a majority vote of our shareholders on December 16, 2010.

On December 16, 2010, Mr. Shrader was terminated as our Chief Operating Officer due to disagreements he had with other members of management. In accordance with the terms of his employment agreement, its termination also constituted the resignation by Mr. Shrader from our Board of Directors. Mr. Shrader’s options to purchase additional shares as provided for by the employment agreement were also cancelled. Mr. Shrader accepted the termination of his employment agreement but has claimed he is owed approximately $12,500 for accrued wages, unpaid expenses and severance. The Board of Directors has evaluated these claims and disputes that Mr. Shrader is owed any additional amounts.

On December 16, 2010, we appointed William A. Glynn to serve as our Chief Executive Officer, Chief Financial Officer and Treasurer at an annual salary of $52,000. Mr. Glynn also receives travel and other reasonable and necessary expenses he incurs.

DIRECTOR COMPENSATION

The current members of the Board of Directors are not presently provided any cash or other compensation for attendance at Board meetings. For 2010, we awarded shares to Steven York and Robert Kuechenberg for their services as Directors as set forth in the table below:

Name	Fees earned or paid in cash		Stock awards (1)		Option awards		Non-equity incentive plan compensation		Nonqualified Deferred Compensation Earnings		All other compensation		Total
Steven York(1)		-0-	$	50		-0-		-0-		-0-		-0-	$	50
Robert Kuechenberg(1)		-0-	$	50		-0-		-0-		-0-		-0-	$	50

(1)On the Transaction Date, Mr. York and Mr. Kuechenberg each received 50,000 shares from the Company to serve on the Board of Directors. The shares were valued at $.001 per share which represented par value.

Mr. Forhan and Mr. Shrader did not receive any additional compensation to serve as Directors other than what was provided for in their respective employment agreements. All Directors are reimbursed for ordinary and necessary travel expenses incurred to attend each Board meeting.

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

None.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The following table sets forth certain information concerning the beneficial ownership of our common stock as of ~~April~~March 929, ~~2010~~2011 by (i) each of our ~~directors~~Directors, (ii) each of our named executive officers, (iii) all ~~directors~~Directors and executive officers as a group and (iv) each person or entity we know beneficially owns more than 5% of our outstanding common stock. The calculation of the percentage owned is based on 2286,~~640~~735,~~000~~360 shares of our common stock outstanding as of ~~April~~March 931, ~~2010~~2011.

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership		Percent of Class
Oleksandr Shalash Witellikerstrasse 17, 8702 Zollikon, Switzerland		8,000,000		35.3	%
John Jenkins 258 Southhall Lane, Suite 420 Maitland, FL 32751		-		-	%
Thomas Kellgren 348 Lake Road Lake Mary, FL 32746		-		-	%
All Directors and Executive Officers as a Group (three persons) (3)		8,000,000		35.3	%
Ivan Hrubi Friedberger Str. 6, Rodgau, Germany 63110		8,000,000		35.3	%

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percent of Class

William A. Glynn 9000 Burma Road, Suite 103 Palm Beach Gardens, FL 33403	-0-	-0-

Bradley Wilson 9000 Burma Road, Suite 103 Palm Beach Gardens, FL 33403	-0-	-0-

All Directors and Executive Officers as a Group (two persons (2))	-0-	-0-

William G. Forhan 1501 S. Ocean Blvd., Apt. 326 Pompano Beach, FL 33062-7436	12,071,000	13.92%

Wahoo Services, SA Obarrio 58th Street CC Panama Building 6th Fl. 6-5 Panama City, Panama	7,500,000	8.65%

York & Kassing Services, Ltd. Edificio Vallarino, Primer Piso Aprado Postal Balboa (ANCON) 3382	7,072,446	8.15%

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

LOAN AGREEMENTS

On June 29, 2009, we executed two unsecured note payable agreements in the principal amounts of $33,000 and $17,000, respectively, with Thomas Kellgren, one of our directors. These notes bear interest at the rate of 8% per annum and all principal and accrued interest are due on June 29, 2010.

On July 8, 2009, we executed an unsecured note payable in the principal amount of $25,000 with Thomas Kellgren. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on July 8, 2010.

On August 11, 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik SA (“Idea Fabrik”). This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on August 11, 2010.

On September 30, 2009, we executed an unsecured note payable in the principal amount of $50,000 with Thomas Kellgren. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on September 30, 2010.

For the year ended December 31, 2009, we paid Princeton Partners, LLC, whom our former CEO, John Jenkins, is the principal of, a total of $72,672 for CEO services provided to the Company. Of this amount, $5,000 was accrued but not paid as of December 31, 2009.

For the year ended December 31, 2009, we paid an officer of the Company, who is not an employee, $12,750 for financial and accounting services provided to the company for 2009.

~~Director~~In ~~Independence~~April 2010, we executed an unsecured note payable in the principal amount of $10,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on April 13, 2011.

In July 2010, we executed an unsecured note payable in the principal amount of $33,000 with Idea Fabrik. The note bears interest at the rate of 8% per annum and all principal and accrued interest are due on July 10, 2011.

On the Transaction Date, all of our debts and obligations to Idea Fabrik and Thomas Kellgren were satisfied in full in connection with the transfer and conveyance to Idea Fabrik of all assets we owned as of the Transaction Date.

On the Transaction Date, we entered into an employment agreement with William G. Forhan to serve as our Chief Executive Officer and Chief Financial Officer, the term of which was approximately three years ending on July 19, 2013 and subject to renewal or termination with or without cause. Mr. Forhan received an annual base salary of Two Hundred Thousand Dollars ($200,000) per year during the term of his employment, payable in accordance with the Company’s semi-monthly payroll disbursement cycle. Under this agreement, Mr. Forhan was also entitled to be paid a bonus of five percent (5%) of our annual EBITDA, in cash and a $500 monthly car allowance. On December 21, 2010, Mr. Forhan voluntarily resigned from his positions as our Chief Executive and Financial Officer and his employment agreement was effectively terminated. Following this event, Mr. Forhan served as our Chief Operating Officer until January 11, 2011, at which time he also voluntarily resigned from that position. Mr. Forhan had previously been removed as a Director by a majority vote of our shareholders on December 16, 2010.

On the Transaction Date, we also entered into an employment agreement with Brad Shrader to serve as our Chief Operating Officer. The term of this agreement was to expire on August 23, 2013, subject to renewal or termination with or without case. Through this agreement, Mr. Shrader received an annual base salary of $135,000 plus a bonus equal to 1.5% of the Company’s EBITDA and a $500 per month car allowance. Mr. Shrader also received 200,000 shares of the Company’s common stock and an option to purchase up to 50,000 shares of the Company’s common stock for a purchase price of $.20 per share until the third anniversary from the grant date of the option. On December 16, 2010, Mr. Shrader was terminated as our Chief Operating Officer due to disagreements he had with other members of management. In accordance with the terms of his employment agreement, its termination also constituted the resignation by Mr. Shrader from our Board of Directors. Mr. Shrader’s options to purchase additional shares as provided for by the employment agreement were also cancelled. Mr. Shrader accepted the termination of his employment agreement but has claimed he is owed approximately $12,500 for accrued wages, unpaid expenses and severance. The Board of Directors has evaluated these claims and disputes that Mr. Shrader is owed any additional amounts.

On the Transaction Date, our principal shareholders, Oleksandr Shalash and Ivan Hrubi, granted options to approximately 15 shareholders to acquire 16,000,000 shares and received a total of $235,500.

On October 19, 2010, we entered into an Asset Purchase Agreement (the “Agreement”) with Advanced Recovery Florida, a sole proprietorship and Michael James Blackburn, the owner of Advanced Recovery Florida (“Blackburn”). Pursuant to the Agreement, the Company purchased 100% of the assets and assumed certain liabilities of Advanced Recovery Florida in consideration of 625,000 fully paid and nonassessable restricted shares of common stock of the Company subject to certain adjustments and other conditions. As a further condition of the acquisition, we entered into a three (3) year employment agreement (“Employment Agreement”) with Blackburn to serve as our Chief Operating Manager and agreed to pay him a base salary of $80,000 per year.

After the Agreement was entered into, a number of conditions were not satisfied or completed by the respective parties. Although efforts were made by the Company and Blackburn to resolve these issues, it was ultimately agreed to that the Agreement, the Employment Agreement and the shares issued to Blackburn would be rescinded and cancelled. As of the date of this Annual Report, a definitive agreement to cancel the Agreement, Employment Agreement and Blackburn’s shares has not yet been finalized.

On September 1, 2010, Mr. Forhan, our former Chief Executive and Financial Officer and Director, caused us to purchase 400,000 shares of common stock from Casino Players, Inc. (“CPI”), for a total purchase price of $100,000. On the date of this transaction, Mr. Forhan also served as the Chairman of CPI. Mr. Forhan did not obtain the consent of a majority of the disinterred members of our Board of Directors before we purchased the CPI shares and therefore, the transaction was not entered into an arm’s length basis. The shares purchased from CPI do not currently have any value and our current Directors intend to pursue legal action against both Mr. Forhan and CPI to recover the investment that was made. In addition, our current Board of Directors is reviewing other financial transactions that were authorized by Mr. Forhan between the Transaction Date and December 16, 2010, and may take further legal action against him and other potential parties, if warranted.

DIRECTOR INDEPENDENCE

None of our directors is considered “independent” as defined under the rules used by the NASDAQ Stock Market.

ITEM 14. PRINCIPAL ACCOUNTANT FEES & SERVICES.

Seale and Beers, CPAs (“Seale and Beers”) ~~has~~ served as our independent registered public accounting firm ~~since~~from August 6, 2009 until November 4, 2010 at which time they resigned as described in Item 9 of this Annual Report and audited our financial statements as of and for the years ended December 31, 2009 and 2008. Moore and Associates, Chartered (“Moore”) served as our independent registered public accounting firm through August 3, 2009 and audited our financial statements as of and for the years ended December 31, 2008 and 2007. In ~~SEC~~ correspondence to the Company dated September 1, 2009, from the SEC, we were informed that Moore’s license with the PCAOB was revoked on August 27, 2009, and that we were required to have our December 31, 2008 financial statements reaudited. ~~Accordingly~~On November 8, an2010, ~~estimate~~we ofengaged ~~fees~~Malcolm L. Pollard, Inc., to beserve ~~billed~~as ~~for~~our ~~the~~independent ~~audit~~registered ofpublic ~~our~~accounting ~~December~~firm ~~31,~~to ~~2009~~audit our financial statements as of and for the ~~reaudit~~year ofended ~~our~~ December 31, ~~2008~~2010. We ~~financial~~have ~~statements~~incurred ~~are~~accounting ~~included in the total audit~~ fees for ~~2009,~~the ~~but~~period ~~have~~stated ~~been~~as ~~billed in 2010~~follows.

Service	~~2009~~2010		~~2008~~2009
Audit Fees	$	1312,~~250~~500	$	813,~~500~~250
Audit-Related Fees		-0		-0
Tax Fees		-600		-0
All Other Fees		-0		-0
Total	$	13,~~250~~100	$	813,~~500~~250

Audit Fees. Consists of fees billed for professional services rendered for the audits of our financial statements for the years ended December 31, 2009 and 2008, reviews of our interim financial statements included in quarterly reports, services performed in connection with filings with the Securities & Exchange Commission and related comfort letters and other services that are normally provided by an independent registered accounting firm in connection with statutory and regulatory filings or engagements.25

Audit~~-Related~~ Fees ~~and Tax Fees~~. We ~~incurred~~Consists noof fees billed for professional services rendered for ~~2009~~the oraudits ~~2008~~of our financial statements for ~~either~~the years ended December 31, 2010 and 2009, reviews of ~~these~~our ~~two~~interim ~~categories. All~~financial ~~tax~~statements ~~returns~~included ~~for~~in ~~these~~quarterly ~~years~~reports, ~~have~~services ~~been~~performed ~~prepared~~in connection with filings with the SEC and related comfort letters and other services that are normally provided by ~~management~~an independent registered accounting firm in connection with statutory and regulatory filings or engagements.

Audit-Related ~~Committee~~Fees ~~Pre-Approval~~and Tax Fees. We incurred no fees for professional services for 2009 for either of ~~Audit~~these ~~and~~two ~~Permissible~~(2) ~~Non-Audit~~categories. The ~~Services~~tax return for this year was prepared by management. We estimate that we will incur fees of ~~Independent~~$600 ~~Auditors~~for professional services for the preparation of our 2010 federal income tax return.

AsAUDIT ~~there~~COMMITTEE ~~is no separately designated Audit Committee, the entire board of directors serves as the Audit Committee. A function of the Audit Committee is to pre~~PRE-~~approve~~APPROVAL ~~all~~OF ~~audit~~AUDIT ~~and~~AND ~~non-audit~~PERMISSIBLE ~~services provided by the independent auditors. These services may include audit services, audit~~NON-~~related~~AUDIT ~~services,~~SERVICES ~~tax~~OF ~~services~~INDEPENDENT and other services as allowed by law or regulation. Pre-approval is generally provided for up to one year and any pre-approval is detailed as to the particular service or category of services and is generally subject to a specifically approved amount. The independent auditors and management are required to periodically report to the Audit Committee regarding the extent of services provided by the independent auditors in accordance with this pre-approval and the fees incurred to date. The Audit Committee may also pre-approve particular services on a case-by-case basis.AUDITORS

20As there is no separately designated Audit Committee, the entire Board of Directors serves as the Audit Committee. A function of the Audit Committee is to pre-approve all audit and non-audit services provided by the independent auditors. These services may include audit services, audit-related services, tax services and other services as allowed by law or regulation. Pre-approval is generally provided for up to one year and any pre-approval is detailed as to the particular service or category of services and is generally subject to a specifically approved amount. The independent auditors and management are required to periodically report to the Audit Committee regarding the extent of services provided by the independent auditors in accordance with this pre-approval and the fees incurred to date. The Audit Committee may also pre-approve particular services on a case-by-case basis.

PART IV

~~Item~~ITEM 15 . EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

(a) Financial Statements - . See Index to Financial Statements at page F-1 of this Report.

(b) Financial Statement Schedules. Not applicable.

Not applicable.

~~EXHIBIT # DESCRIPTION~~26

3.1	Articles of Incorporation, as amended (incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)
3.2	By-Laws, as amended (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)
3.3	Agreement of Merger dated as of March 5, 2009 between the Company and Nasus Consulting, Inc., a Massachusetts corporation, including the Certificate of Merger and other state filings (incorporated by reference to Exhibit 3.3 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)
4.1	Speciman Stock Certificate (incorporated by reference to Exhibit number 4.1 of the Registrant’s Registration Statement No. 333-150135 on Form S-1 filed on April 7, 2008 and declared effective on June 23, 2008 (the “Registration Statement”))
10.1	Stock Purchase Agreement dated May 27, 2009 by and between the Company, Oleksandr Shalash and Ivan Hrubi (collectively referred to as "Purchasers"); Russell R. Desjourdy and Lynne Desjourdy, (collectively referred to as the"Selling Shareholders") (incorporated by reference to the Registrant’s Form 8-K filed on June 2, 2009)
10.2	Consulting Agreement by and between Big Apple Consulting USA, Inc. and Nasus Consulting, Inc. (incorporated by reference to Exhibit 10 to the Registrant’s Form 8-K filed on October 8, 2009)
14.1	Code of Ethics (incorporated by reference to Exhibit 14.1 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)
23.1	Consent of Seale and Beers, CPAs #
31.1	Certification of Chief Executive and Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 #
32.1	Certification of Chief Executive and Chief Financial Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code #

EXHIBIT

NUMBERS: DESCRIPTION

3.1	Articles of Incorporation, as amended (incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)

3.1(i)

Amended Articles of Incorporation to increase capitalization of Company to 200,000,000 shares of common stock effective March 10, 2009 (incorporated by reference to Exhibit 99-2A to the Registrant’s Form 8-K as filed on March 12, 2009)

3.1(ii)

Amended Articles of Incorporation to change the Company’s name from Nasus Consulting, Inc. to National Asset Recovery Corporation effective October 1, 2010 (incorporated by reference to Exhibit A to the Registrant’s Definitive Information Statement filed pursuant to Section 14(c) of the Securities Exchange Act of 1934 on September 13, 2010)

3.2	By-Laws, as amended (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)

3.3

Agreement of Merger dated as of March 5, 2009 between the Company and Nasus Consulting, Inc., a Massachusetts corporation, including the Certificate of Merger and other state filings (incorporated by reference to Exhibit 3.3 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)

4.1	Speciman Stock Certificate (incorporated by reference to Exhibit number 4.1 of the Registrant’s Registration Statement No. 333-150135 on Form S-1 filed on April 7, 2008 and declared effective on June 23, 2008 (the “Registration Statement”))

10.1(i)

Stock Purchase Agreement dated May 27, 2009 by and between the Company, Oleksandr Shalash and Ivan Hrubi (collectively referred to as "Purchasers"); Russell R. Desjourdy, Russell Desjourdy and Lynne Desjourdy, (collectively referred to as the"Selling Shareholders") (incorporated by reference to the Registrant’s Form 8-K filed on June 2, 2009)

10.1(ii)

Employment Agreement between the Registrant and William G. Forhan to serve as the Chief Executive and Financial Officer (incorporated by reference to Exhibit 10.1 to the Registrant’s Form 8-K/A as filed on September 1, 2010)

10.1(iii)

Employment Agreement between the Registrant and Brad Shrader to serve as the Chief Operating Officer (incorporated by reference to Exhibit 10.1 to the Registrant’s Form 8-K/A as filed on September 1, 2010)

10.1(iv)

Asset Purchase Agreement dated October 19, 2010, between the Registrant, Advanced Recovery Florida and Michael James Blackburn, the owner of Advanced Recovery Florida (incorporated by reference to Exhibit 10.1 to the Registrant’s Form 8-K as filed on October 25, 2010)

14.1	Code of Ethics (incorporated by reference to Exhibit 14.1 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed on April 8, 2009)

16.1	Letter of Seale and Beers, Certified Public Accountants dated November 8, 2010 (incorporated by reference to Exhibit 16.1 to the Registrant’s Form 8-K as filed on November 8, 2010)

31.1	Certification of Chief Executive and Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 #

32.1	Certification of Chief Executive and Chief Financial Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code #

# Filed herewith.

2127

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.

	NASUS CONSULTING, INC.
	NATIONAL ASSET RECOVERY CORP.
April 16, 2010	By: /s/ John Jenkins
March 31, 2011	By:	/s/ William A. Glynn
	John Jenkins
		William A. Glynn
	~~Chief Executive and Financial Officer~~	Chief Executive and Financial Officer
	~~(Principal Executive, Financial and Accounting Officer)~~	(Principal Executive, Financial and Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Pursuant to the requirements of the Securities Exchange Act of 1932, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

March 31, 2011	By:	/s/ Bradley Wilson
		Bradley Wilson
		Chairmain of the Board

April 16, 2010	By: /s/ Oleksandr Shalash
March 31, 2011	By:	/s/ William A. Glynn
	Oleksandr Shalash
		William A. Glynn
	Chairman of the Board
		Chief Executive and Financial Officer
April 16, 2010	By: /s/ John Jenkins
	John Jenkins
	Chief Executive and Financial Officer and Director

2228

~~Nasus~~ NATIONAL ~~Consulting,~~ASSET ~~Inc.~~RECOVERY CORPORATION

Index to Financial Statements

Report of Independent Registered Public Accounting Firm			F-2

Consolidated Balance Sheets as of December 31, 2009 and 2010			F-3

Consolidated Statements of Operations for the years ended December 31, 2009 and 2010			F-4

Consolidated Statements of Stockholders' Equity for the years ended December 31, 2009 and 2010			F-5

Consolidated Statements of Cash Flows for the years ended December 31, 2009 and 2010			F-6

Notes to Consolidated Financial Statements			F-7

	Page
Report of Independent Registered Public Accounting Firm	F-2
Balance Sheets as of December 31, 2009 and 2008	F-3
Statements of Operations for the Years Ended December 31, 2009 and 2008 and the period from May 27, 2009 (Inception) through December 31, 2009	F-4
Statements of Stockholders' Equity (Deficit) for the Years Ended December 31, 2009 and 2008 and the period from May 27, 2009 (Inception) through December 31, 2009	F-5
Statements of Cash Flows for the Years Ended December 31, 2009 and 2008 and the period from May 27, 2009 (Inception) through December 31, 2009	F-6
Notes to Financial Statements	F-7

F-1

SEALE AND BEERS, CPAs

PCAOB & CPAB REGISTERED AUDITORS

www.sealebeers.com

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders

~~Nasus~~National ~~Consulting,~~Asset ~~Inc.~~Recovery Corporation

(APalm ~~Development~~Beach ~~Stage~~Gardens, ~~Company)~~Florida

We have audited the accompanying balance sheets of Nasus Consulting, Inc. (A Development Stage Company) as of December 31, 2009 and December 31, 2008, and the related statements of operations, stockholders’ equity (deficit) and cash flows for the years ended December 31, 2009 and 2008, and since inception on May 27, 2009 through December 31, 2009. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conduct our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Nasus Consulting, Inc. (A Development Stage Company) as of December 31, 2009 and December 31, 2008, and the related statements of operations, stockholders’ equity (deficit) and cash flows for the years ended December 31, 2009 and 2008, and since inception on May 27, 2009 through December 31, 2009, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, as of December 31, 2009 the company had an accumulated deficit and a deficit accumulated during the development stage of $42,790 and $676,249, respectively. In addition, the company has earned no revenues since inception of reentering the development stage on May 27, 2009. These factors raise substantial doubt about its ability to continue as a going concern. Management’s plans concerning these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Seale and Beers, CPAs

Seale and Beers, CPAs

Las Vegas, Nevada

April 15, 2010

50 S. Jones Blvd. Suite 202 Las Vegas, NV 89107 Phone: (888)727-8251 Fax: (888)782-2351

F-2

~~NASUS~~NATIONAL ~~CONSULTING,~~ASSET ~~INC.~~RECOVERY CORPORATION

(A BALANCE ~~Development Stage Company)~~SHEET

BALANCE SHEETS

	December 31,			December 31,
	2010			2009
ASSETS
Current Assets:
Cash and Cash Equivalents	$	7,369		$	99,174
Accounts Receivable		16,741			-
Total Current Assets		24,110			99,174

PROPERTY AND EQUIPMENT, net		8,749			-
Other Assets:
Intangible Assets-Net of Amortization		86,869			-
Due from Advanced		67,800			-
Deposits and Prepaid Expenses		16,085			10,000
Total Other Assets		170,754			10,000

TOTAL ASSETS	$	203,613		$	109,174

LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts Payable	$	95,524		$	14,517
Due to Related Party		14,191			766,346
Total Current Liabilities		109,715			780,863

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
Common stock, $.001 par value; 200,000,000 shares authorized 83,715,000
and -0- shares issued and outstanding at December 31, 2010 and
December 31, 2009 (respectively)		83,715			22,640
Additional Paid in Capital		680,289			24,710
Accumulated Deficit		(670,106	)		(719,039	)
TOTAL STOCKHOLDERS' EQUITY		93,898			(671,689	)
TOTAL LIABILITIES & STOCKHOLDERS EQUITY	$	203,613		$	109,174

ASSETS	December 31,
	2009			2008
Current assets:
Cash and cash equivalents	$	99,174		$	33,979
Prepaid expense		10,000			-
Current assets from discontinued operations		-			3,713
Total current assets		109,174			37,692
Long-term assets from discontinued operations, net		-			7,225
Total long-term assets		-			7,225
TOTAL ASSETS	$	109,174		$	44,917
LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	-		$	213
Accrued liability – officer		5,000			-
Accrued liabilities		9,517			-
Notes payable, including accrued interest of $4,081 – related party		129,081			-
Notes payable, including accrued interest of $11,565 – related party		637,265			-
Total current liabilities		780,863			213
Commitments and Contingencies
Stockholders’ equity (deficit):
Common stock, $0.001 par value; 200,000,000 shares authorized; 22,640,000 shares issued and outstanding		22,640			22,640
Additional paid-in capital		20,150			20,150
Stock subscription payable		4,560			-
Retained earnings (Accumulated deficit)		(42,790	)		1,914
Deficit accumulated during the development stage		(676,249	)		-
Total stockholders’ equity (deficit)		(671,689	)		44,704
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	109,174		$	44,917

See accompanying notes to the unaudited Condensed Consolidated Financial Statements

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

F-3

~~NASUS~~NATIONAL ~~CONSULTING,~~ASSET ~~INC.~~RECOVERY CORPORATION

(ASTATEMENT ~~Development~~OF ~~Stage Company)~~OPERATIONS

STATEMENTS OF OPERATIONS

	From August 27, 2010 to Year Ended December 31,			Year Ended December 31,
	2010			2009
Revenue	$	105,333		$	-
Cost of Sales		47,275			-
Gross Profit		58,058			-

Expenses
Advertising and marketing		17,008			-
Contract labor		148,456			-
Depreciation		10,000			-
Insurance		38,035			-
Office		34,758			-
Payroll and payroll taxes		171,991			-
Professional fees		20,589			-
Rent		60,599			-
Travel and entertainment		97,008			-
Utilities		13,038			-
Other expenses		16,917			691,315
Total Expenses		628,399			691,315
Loss from Operations		(570,341	)		(691,315	)

Other Income (Expense)
Impairment of Asset-Stock Investment		(100,000	)		(12,623	)
Interest Income		236			(15,646	)
Total Other Income (Expense)		(99,764	)		(28,269	)

Loss Before Income Taxes		(670,105	)		(719,584	)

Income Tax Benefit		-			-

Net Loss		(670,105	)		(719,584	)


Loss Per Share-Basic and Diluted	$	(0.01	)	$	(0.03	)

Weighted Average Common Shares
Outstanding -Basic and Diluted		83,715,000			22,640,000

	For the Years Ended December 31,						May 27, 2009 (Inception) Through December 31, 2009
	2009			2008
Operating expenses:
General and administrative	$	691,315		$	-		$	660,603
Total operating expenses		691,315			-			660,603
Interest expense – related parties		15, 646			-			15,646
Loss from continuing operations		(706,961	)		-			(676,249	)
Loss from discontinued operations, net of tax		(12,623	)		(9,823	)		-
Net loss	$	(719,584	)	$	(9,823	)	$	(676,249	)
Basic and diluted loss per share:
Loss from continuing operations	$	(0.03	)	$	-
Loss from discontinued operations	$	-		$	-	*
Net loss	$	(0.03	)	$	-	*
Weighted average shares outstanding – basic and diluted		22,640,000			22,640,000

See accompanying notes to the unaudited Condensed Consolidated Financial Statements

* Per share earnings is less than $0.01.

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

F-4

~~NASUS~~NATIONAL ~~CONSULTING,~~ASSET ~~INC.~~RECOVERY CORPORATION

(ASTATEMENT ~~Development~~OF ~~Stage~~CHANGES ~~Company)~~IN STOCKHOLDERS' EQUITY

~~STATEMENTS~~FOR OFTHE ~~STOCKHOLDERS'~~YEAR ~~EQUITY~~ENDED ~~(DEFICIT)~~DECEMBER 31, 2010

	Common Stock				Additional Paid in Capital		Stock Subscription Payable			Retained Earnings (Accumulated Deficit)			Deficit Accumulated During Development Stage			Total Stockholders’ Equity (Deficit)
					Additional
	Shares		Amount
	Common Stock				Paid in		Retained			Total
Balances at December 31, 2007		22,640,000	$	22,640	$	20,150	$	-		$	11,737		$	-		$	54,527
	Quantity		Amount		Captial		Earnings			Equity
Net loss											(9,823	)					(9,823	)
Balance at December 31, 2009		22,640,000	$	22,640	$	24,710	$	(719,039	)	$	(671,689	)
Balances at December 31, 2008		22,640,000		22,640		20,150		-			1,914			-			44,704
Stock Issued for Private Placement		-		-		655,579		-			655,579
Distribution to former common stockholders											(1,369	)					(1,369	)
Stock Issued to former CEO for services		20,000,000		20,000		-					20,000
Loss from continuing operations (January 1 to May 26, 2009)											(30,712	)					(30,712	)
Stock issued for services rendered		41,075,000		41,075		-					41,075
Loss from discontinued operations (January 1 to May 26, 2009)											(12,623	)					(12,623	)
								719039			719,039
Balances at May 27, 2009 (Inception as development stage company)		22,640,000		22,640		20,150		-			(42,790	)		-			-
Net Income		-		-		-		(670,106	)		(670,106	)
Loss from continuing operations and inception (development stage company)														(676,249	)		(676,249	)
Balance at December 31, 2010		83,715,000	$	83,715	$	680,289	$	(670,106	)	$	93,898
Services exchanged for stock subscription								4,560									4,560
Balances at December 31, 2009		22,640,000	$	22,640	$	20,150	$	4,560		$	(42,790	)	$	(676,249	)	$	(671,689	)

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

F-5

~~NASUS~~NATIONAL ~~CONSULTING,~~ASSET ~~INC.~~RECOVERY CORPORATION

(A STATEMENT ~~Development~~OF ~~Stage~~CASH ~~Company)~~FLOWS

STATEMENTS OF CASH FLOWS

	From August 27, 2010 To Year Ended			Year Ended December 31,
	December 31, 2010			2009

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss	$	(670,105	)	$	(719,584	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense		10,000			722
Changes in operating assets and liabilities:
Decrease (Increase) in assets:
Accounts Receivable		(16,741	)		317
Loan Receivable		(67,800	)		14,995
Intanbible asset		(86,869	)		(536	)
Prepaid Expenses and Deposits		(16,085	)		(10,000	)
Increase (Decrease) in liabilities:
Accounts payable and accrued expenses		95,524			14,304
Due to related party		14,191			15,646
Net Cash Used In Operating Activities		(737,885	)		(684,136	)
Cash Flows from Investing Activities
Fixed Assets Purchased		(18,750	)		-
Net Cash( Used In) Provided by Investing Activities		(18,750	)		-
Cash Flows from Financing Activities
Private Placement-Net of expenses		764,004			-
Proceeds from notes payable-related party					749,331
Net Cash Provided by(Used In) Financing Activities		764,004			749,331

NET INCREASE IN CASH AND CASH EQUIVALENTS		7,369			65,195
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		-			33,979
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	7,369		$	99,174
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
SUPPLEMENTAL DISCLOSURE OF NONCASH ACTIVITIES:
Interest paid during the period	$	-		$	-
Income taxes paid during the period	$	-		$	-

	For the Years Ended December 31,						May 27, 2009 (Inception) Through December 31, 2009
	2009			2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(719,584	)	$	(9,823	)	$	(676,249	)
Adjustments used to reconcile net loss to net cash used in operating activities:
Loss from disposition of net assets from discontinued operations		10,435			-			-
Services exchanged for stock subscription		4,560			-			4,560
Depreciation and amortization		722			2,890			-
Changes in operating assets and liabilities:
Accounts receivable		317			(1,639	)		-
Prepaid expense		(10,000	)		-			(10,000	)
Other current assets		(536	)		-			-
Accounts payable and accrued liabilities		9,304			(3,865	)		9,517
Accrued interest – related parties		15,646			-			15,646
Accrued liability – officer		5,000			-			5,000
Net cash used in operating activities		(684,136	)		(12,437	)		(651,526	)
CASH FLOWS FROM INVESTING ACTIVITIES:		-			-			-
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable - related party		125,000			-			125,000
Proceeds from notes payable – related party		625,700			-			625,700
Distribution to former common stockholders		(1,369	)		-			-
Net cash provided by financing activities		749,331			-			750,700
Net increase (decrease) in cash and cash equivalents		65,195			(12,437	)		99,174
Cash and cash equivalents at beginning of year or period		33,979			46,416			-
Cash and cash equivalents at end of year	$	99,174		$	33,979		$	99,174
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for:
Interest	$	-		$	-		$	-
Income taxes	$	456		$	2,129		$	-

See accompanying notes to the financial Statements

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

F-6

~~NASUS~~NATIONAL ~~CONSULTING,~~ASSET ~~INC.~~RECOVERY CORPORATION

(ANOTES ~~Development~~TO ~~Stage~~CONDENSED ~~Company)~~CONSOLIDATED FINANCIAL STATEMENTS

~~Notes~~FOR toTHE ~~Financial~~YEARS ~~Statements~~ENDED DECEMBER 31, 2010 AND 2009

NOTE 1 - ORGANIZATION AND ~~GOING CONCERN~~CAPITALIZATION

Organization

~~Nasus~~National ~~Consulting,~~Asset ~~Inc.~~Recovery ~~(the~~Corporation ~~“Company,”~~formerly ~~“we,”~~known ~~“us,”~~as orNasus ~~“our”)~~Consulting, Inc. is a Nevada corporation incorporated in February 2009 and the successor by merger to a Massachusetts corporation incorporated on August 1, 2000. Prior to May 27, 2009, wethe Company provided professional information technology (“IT”) services, including software and hardware installation, data conversion, training, and software product modifications to businesses. On May 27, 2009 (the “Transaction Date”), our principal shareholders and officers, Russell R. Desjourdy and Lynn Desjourdy, together with all of our remaining officers and directors voluntarily resigned from their respective offices and positions effective as of the Transaction Date. All of our assets held as of the Transaction Date were distributed to Mr. Desjourdy as compensation for the voluntary termination of his employment agreement.

~~Nature~~Nasus Consulting, Inc. was incorporated in the Commonwealth of ~~Operations~~Massachusetts on August 1, 2000. On March 5, 2009, we completed a statutory merger (solely for the purpose of redomicile) with a Nevada corporation by the same name. On March 12, 2009, we amended our Articles of Incorporation to increase our authorized common shares to 200,000,000. From inception until May 27, 2009, we provided professional information technology (“IT”) services, including software and hardware installation, data conversion, training, and software product modifications to businesses. On May 27, 2009 (the “Transaction Date”), our principal shareholders and officers, Russell R. Desjourdy and Lynn Desjourdy, together with all of our remaining officers and directors voluntarily resigned from their respective offices and positions effective as of the Transaction Date. All of our assets held as of the Transaction Date were distributed to Mr. Desjourdy as compensation for the voluntary termination of his employment agreement.

Effective as of the Transaction Date, we ceased operating our IT services business, and as a result, we no longer derive any revenues from this business. Our new management is presently negotiating the potential purchase or an exclusive licensing arrangement of certain technology from Idea Fabrik SA (“Idea Fabrik”), domiciled in Luxembourg. That technology, if purchased or licensed by us, is intended to serve as the foundation platform for the development of a range of Massively Multiplayer Online ("MMO"), virtual reality experiences for on-line internet entertainment, education, social and business interactive purposes. We are engaged currently in conceptual product design, market analysis, detailed business plan development and testing and evaluation of the some of the additional technologies we believe will be required to develop our potential product offerings. We are using a development license we purchased in this quarter in order to create prototypical demonstration models of specific elements of our intended products. As of the Transaction Date, we are currently a development stage company and have not recorded any revenues to date.

~~Basis~~On August 27, 2010, the Company changed its business model to be a repossession company of ~~Presentation~~motor vehicles, luxury assets and ~~Going~~heavy ~~Concern~~equipment. The Company's intended clients are proposed to be banks and lenders that have loaned money to consumers who purchased autos/trucks, airplanes, boats/yachts and construction equipment. The Company plans to enter the market in Florida and to expand nationwide with strategic mergers and alliances.

~~The~~NOTE ~~accompanying~~2 ~~financial~~SUMMARY ~~statements~~OF ~~have~~SIGNIFICANT ~~been~~ACCOUNTING prepared in conformity with US GAAP, which contemplate our continuation as a going concern, whereby the realization of assets and liquidation of liabilities are in the ordinary course of business. We are currently in the development stage as we have not realized any revenue from our new business that commenced as of the Transaction Date. Our ability to continue our current activities as a going concern will rely solely on our ability to secure additional funding.POLICIES

AsBASIS ofOF December 31, 2009, we had an accumulated deficit and a deficit accumulated during the development stage of $42,790 and $676,249, respectively. As of December 31, 2009, we had $99,174 in cash and cash equivalents and, since the Transaction Date, have funded our operations through notes payable, which have totaled $750,700 plus accrued interest of $15,646 through December 31, 2009. A director of our board of directors (“Board”) has loaned us $125,000 and Idea Fabrik has loaned us $625,700. See further discussion of these related party notes in Note 4. At present, we believe that we have commitments from these related parties to finance our company through the conceptual design stage, which, at this time, we expect to conclude in the second half of 2010. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be different should we be unable to continue as a going concern.PRESENTATION

~~Management~~The ~~recognizes~~consolidated ~~that~~financial westatements ~~must~~are ~~generate~~prepared ~~additional~~in ~~cash~~accordance ~~resources~~with togenerally ~~enable~~accepted usaccounting toprinciples ~~continue~~in ~~operations~~the ~~and~~United toStates ~~develop~~of ~~our~~America ~~intended~~("US ~~product offerings~~GAAP"). The Wepreparation ~~intend~~of toconsolidated ~~raise~~financial ~~additional~~statements ~~financing~~in ~~through~~conformity ~~debt~~with oraccounting ~~equity~~principles ~~financings~~generally oraccepted ~~other~~in ~~means~~the ~~that~~United weStates ~~deem~~of ~~necessary~~America requires management to ~~bring~~make ~~our~~estimates ~~products~~and toassumptions ~~market. However,~~that ~~there~~affect isthe noreported ~~assurance~~amounts ~~that~~of weassets ~~will~~and beliabilities ~~successful~~and indisclosures ~~raising~~of ~~sufficient~~contingent ~~additional~~assets ~~capital~~and ~~that~~liabilities isat ~~required~~the todate ~~execute~~of the ~~our~~consolidated ~~product~~financial ~~development~~statements and ~~commercialization~~the ~~plans~~reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

F-7

~~NASUS~~USE ~~CONSULTING,~~OF ~~INC.~~ESTIMATES

(AThe ~~Development~~preparation ~~Stage~~of ~~Company)~~condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

~~Notes~~CASH toAND ~~Financial~~CASH ~~Statements~~EQUIVALENTS

~~Cash~~The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. At December 31, 2010 and ~~Cash~~December ~~Equivalents~~31, 2009, the Company had cash equivalents in the amount of approximately $7,369, and $99,174, respectively, all in low risk investments.

WeIMPAIRMENT ~~consider~~OF ~~all~~LONG-LIVED highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. Periodically, we maintain deposits in financial institutions in excess of federally insured limits.ASSETS

~~Prepaid~~The ~~expense~~Company accounts for the impairment of long-lived assets in accordance with ASC Topic 360, “Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of” (“ASC Topic 360”) requires write-downs to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount.

~~Prepaid~~If ~~expense~~the long-lived assets are identified as being planned for disposal or sale, they would be separately presented in the balance sheet and reported at ~~December~~the 31lower of the carrying amount or fair value less costs to sell, ~~2009~~and isare ~~comprised~~no longer depreciated. The assets and liabilities of a ~~payment~~disposed group classified as held for ~~software~~sale ~~development~~would tobe anpresented ~~outside~~separately ~~party~~in ~~for~~the ~~January~~appropriate ~~2010~~asset ~~services. This~~and ~~amount~~liability ~~was~~sections ~~properly~~of ~~expensed~~the inbalance ~~January~~sheet. As of December 31, 2010 and 2009 there were no impairments of long-lived assets.

~~Revenue~~REVENUE ~~Recognition and Accounts Receivable~~RECOGNITION

WeThe ~~have~~Company ~~not~~recognizes ~~recognized~~revenue ~~any~~in ~~revenue~~accordance ~~since~~with ~~inception~~the Securities and ~~had~~Exchange noCommission, ~~accounts~~Staff ~~receivable~~Accounting ~~balances~~Bulletin as(SAB) No. 104, “Revenue Recognition” (“SAB No. 104”). SAB 104 clarifies application of ~~March~~generally 31accepted accounting principles related to revenue transactions. The Company also follows the guidance in ASC Topic 980, ~~2009~~Revenue orArrangements ~~2008~~with Multiple Deliverables ("ASC Topic 980"), in arrangements with multiple deliverables.

~~Property~~The Company recognizes revenues when all of the following criteria are met: (1) persuasive evidence of an arrangement exists, (2) delivery of products and ~~Equipment~~services has occurred, (3) the fee is fixed or determinable and (4) collectability is reasonably assured.

WeThe ~~have~~Company noreceives ~~property~~revenue ~~and~~for ~~equipment~~recovering ~~balances~~assets asfor ofsecured ~~December~~lenders 31that desire to repose boats, ~~2009~~cars, orplanes ~~2008~~and heavy equipment. We Milestone payments are recognized ~~depreciation~~as ~~expense~~revenue ofupon ~~$722~~achievement ~~and~~of ~~$2,890~~contract-specified ~~for~~events ~~the~~and ~~years~~when ~~ended~~there ~~December~~are ~~31,~~no ~~2009~~remaining ~~and~~performance ~~2008~~obligations.

~~Fair~~In certain cases, the Company enters into agreements with customers that involve the delivery of more than one product or service. Revenue for such arrangements is allocated to the separate units of accounting using the relative fair value method in accordance with ASC Topic 980. The delivered item(s) is considered a separate unit of ~~Financial~~accounting ~~Instruments~~if all of the following criteria are met: (1) the delivered item(s) has value to the customer on a standalone basis, (2) there is objective and reliable evidence of the fair value of the undelivered item(s) and (3) if the arrangement includes a general right of return, delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the vendor. If all the conditions above are met and there is objective and reliable evidence of fair value for all units of accounting in an arrangement, the arrangement consideration is allocated to the separate units of accounting based on their relative fair values.

~~The~~There ~~carrying~~have ~~value~~been ofno ~~our~~returns ~~financial~~through ~~instruments, which include cash, accounts payable and accrued liabilities at~~ December 31, ~~2009~~2010. Therefore, ~~and~~a ~~2008,~~sales ~~approximates~~return ~~their~~allowance ~~fair~~has ~~values~~not ~~due~~been toestablished ~~the~~since ~~short-term~~management ~~nature~~believes ofreturns ~~these~~will ~~financial~~be ~~instruments~~insignificant.

Use of Estimates

Our financial statements are prepared in accordance with US GAAP. The preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, costs and expenses, and related disclosures. On an ongoing basis, we evaluate our estimates and assumptions. Our actual results may differ from these estimates under different assumptions or conditions.

Earnings (Loss) per Share

Basic earnings (loss) per share is computed based on the weighted average number of common shares outstanding during the period presented. Diluted earnings (loss) per share is computed using the weighted-average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares had been issued. For all years presented in this report, we had no outstanding potentially dilutive securities, such as stock purchase warrants, options or convertible equity or convertible debt instruments. Accordingly, basic shares equal diluted shares for all years presented.

F-8

~~NASUS~~ PROPERTY ~~CONSULTING,~~AND ~~INC.~~EQUIPMENT

(AProperty ~~Development~~and ~~Stage~~equipment ~~Company)~~is recorded at cost and depreciated over the estimated useful lives of the assets using the straight-line method. When items are retired or otherwise disposed of, income is charged or credited for the difference between net book value and proceeds realized thereon. Ordinary maintenance and repairs are charged to expense as incurred, and replacements and betterments are capitalized.

~~Notes~~The range of estimated useful lives used to ~~Financial~~calculate ~~Statements~~depreciation for property and equipment are as follow:

We account for share-based compensation under FASB ASC Topic 718 Compensation – Stock Compensation (“ASC 718”). ASC 718 requires the recognition of equity-based payments to employees in the financial statements and is measured based on the estimated fair value of the award on the grant date. ASC 718 also requires the stock option or stock purchase warrant compensation expense to be recognized over the period during which an employee is required to provide service in exchange for the award (generally the vesting period). For all periods presented in this report, we had no share-based compensation transactions.

Asset Category		Depreciation/Amortization Period
Furniture and Fixture		5 Years
Office equipment		5 Years
Leasehold improvements		2 Years

~~Income~~INCOME ~~Taxes~~TAXES

WeDeferred ~~account for~~ income taxes ~~under~~are ~~FASB~~provided ~~ASC~~based ~~Topic~~on ~~740~~the ~~Income~~provisions ~~Taxes~~of (“ASC Topic 740~~”). Deferred~~, ~~tax~~"Accounting ~~assets~~for ~~and~~Income ~~liabilities~~Taxes", ~~are~~to ~~recognized~~reflect ~~for~~ the ~~future~~ tax consequences ~~attributable~~in tofuture years of differences between the ~~financial~~tax ~~statement~~basis ~~carrying amounts~~ of ~~existing~~ assets and liabilities and their ~~respective~~financial ~~tax~~reporting ~~bases~~amounts ~~and~~based ~~operating~~on ~~loss~~enacted ~~and~~ tax ~~credit~~laws ~~carry-forwards. Deferred tax assets~~ and ~~liabilities~~statutory ~~are measured using enacted~~ tax rates ~~expected~~applicable to ~~apply to taxable income in~~ the ~~years~~periods in which ~~those~~the ~~temporary~~ differences are expected to beaffect ~~recovered~~taxable ~~or settled~~income. Valuation ~~The~~allowances ~~effect~~are onestablished ~~deferred~~when ~~tax~~necessary ~~assets~~to ~~and~~reduce ~~liabilities~~deferred ~~of a change in~~ tax ~~rates~~assets isto ~~recognized in operations in~~ the ~~period~~amount ~~that~~expected ~~includes the enactment date. A valuation allowance is required~~ to ~~the extent that it is more likely than not that a deferred tax asset will not~~ be realized.

~~ASC~~Based ~~740~~on ~~prescribes~~its aevaluation, ~~recognition~~the ~~threshold~~Company ~~and~~concluded athat ~~measurement~~there ~~attribute~~are ~~for~~no ~~the~~significant ~~financial~~uncertain ~~statement~~tax ~~recognition~~positions ~~and~~requiring ~~measurement~~recognition ofin ~~income~~its ~~tax~~consolidated ~~positions~~financial ~~taken~~statements. orThe ~~expected~~evaluation towas beperformed ~~taken~~for inthe ~~an income~~ tax ~~return. For~~years ~~those~~ended ~~benefits~~December to31 ~~be recognized~~2009, athe tax ~~position~~years ~~must~~which beremain ~~more-likely-than-not~~subject to ~~be sustained upon~~ examination by ~~taxing~~major ~~authorities. We had no unrecognized~~ tax ~~benefits~~jurisdictions oras ~~uncertain~~of ~~tax positions at~~ December 31, ~~2009 or 2008~~2010.

~~Recently~~The ~~Issued~~Company ~~Accounting~~may ~~Standard~~from ~~Updates~~time to time be assessed interest or penalties by major tax jurisdictions, although any such assessments historically have been minimal and immaterial to the Company’s financial results. In the event the Company has received an assessment for interest and/or penalties, it has been classified in the consolidated financial statements as selling, general and administrative expense.

WeThe ~~have~~Company ~~reviewed~~adopted ~~all~~the provisions of ~~the~~ASC ~~FASB’s~~Topic 740; "Accounting ~~Standard~~For ~~Updates~~Uncertainty ~~through~~In Income Taxes-An Interpretation Of ASC Topic 740 ("Topic 740"). Topic 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the ~~filing~~tax ~~date~~position for recognition by determining if the weight of ~~this~~available ~~report~~evidence ~~and~~indicates ~~have~~it ~~concluded~~is more likely than not, that ~~none~~the position will ~~have~~be asustained ~~material~~on ~~impact~~audit, onincluding ~~our~~resolution ~~future~~of ~~financial~~related ~~statements~~appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement. The Company considers many factors when evaluating and estimating the Company's tax positions and tax benefits, which may require periodic adjustments. At December 31, 2010 and 2009 the Company did not record any liabilities for uncertain tax positions.

~~NOTE~~CONCENTRATION 3OF –CREDIT ~~DISCONTINUED OPERATIONS~~RISK

~~Effective~~Financial instruments that potentially subject the Company to concentrations asof credit risk consist principally of ~~the~~cash. ~~Transaction~~The ~~Date~~Company maintains cash balances at one financial institution, wewhich ~~ceased~~is insured ~~operating~~by ~~our~~the ITFederal ~~services~~Deposit ~~business~~Insurance Corporation (“FDIC”). The FDIC insured institution insures up to $250,000 ~~and~~on asaccount abalances. ~~result~~The amounts that are not insured by FDIC limitations are held in short-term securities. As of December 31, we2010 and 2009, there were no ~~longer~~uninsured ~~derive~~balances. The company has not experienced any ~~revenues~~losses ~~from~~in ~~this~~such ~~business~~accounts.

~~Operating~~EARNINGS ~~results~~(LOSS) ~~from~~PER ~~discontinued operations for the years ended December 31, 2009 and 2008 were as follows:~~SHARE

	Year Ended December 31,
	2009			2008
Revenue – software services	$	149,550		$	371,616
Selling, general and administrative expenses		162,173			382,125
Loss before income taxes		(12,623	)		(10,509	)
Income tax benefit		-			686
Loss from discontinued operations, net of tax	$	(12,623	)	$	(9,823	)

Earnings (loss) per share is computed in accordance with ASC Topic 260, "Earnings per Share". Basic earnings (loss) per share is computed by dividing net income (loss), after deducting preferred stock dividends accumulated during the period, by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period.

F-9

~~NASUS~~ACCOUNTING ~~CONSULTING,~~FOR ~~INC.~~STOCK-BASED COMPENSATION

(AThe ~~Development~~Company ~~Stage~~applies ~~Company~~ASC Topic 718 “Share-Based Payments” (“ASC Topic 718”) to share-based compensation, which requires the measurement of the cost of services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. Compensation cost is recognized when the event occurs. The Black-Scholes option-pricing model is used to estimate the fair value of options granted.

~~Notes~~For tothe ~~Financial~~years ~~Statements~~ended December 31, 2010 and 2009, the Company did not have any stock option grants outstanding.

OnNON-EMPLOYEE ~~June~~STOCK ~~29,~~BASED 2009, we executed two unsecured note payable agreements in the principal amounts of $33,000 and $17,000, respectively, with one of the directors on our Board (the “Director Investor”). These notes bear interest at the rate of 8% per annum and all principal and accrued interest are due on June 29, 2010.COMPENSATION

OnThe ~~July~~cost 8,of ~~2009,~~stock-based wecompensation ~~executed~~awards anissued ~~unsecured~~to ~~note~~non-employees ~~payable~~for inservices ~~the~~are ~~principal~~recorded, ~~amount~~in ofaccordance ~~$25,000~~ with ~~the~~ASC ~~Director~~Topic ~~Investor. This~~505- ~~note~~50 ~~bears~~“Equity-Based ~~interest~~Payments to Non-Employees,” at either the ~~rate~~fair value of 8%the ~~per~~services ~~annum~~rendered ~~and~~or ~~all~~the ~~principal~~instruments ~~and~~issued ~~accrued~~in ~~interest~~exchange ~~are~~for ~~due~~such onservices, ~~July~~whichever 8is more readily determinable, ~~2010~~using the measurement date guidelines.

OnCOMMON ~~August~~STOCK ~~11,~~PURCHASE 2009, we executed an unsecured note payable in the principal amount of $100,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on August 11, 2010.WARRANTS

OnThe ~~August~~Company ~~25,~~accounts ~~2009,~~for wecommon ~~executed~~stock anpurchase ~~unsecured~~warrants ~~note~~in ~~payable~~accordance inASC Topic 815 “Derivatives and Hedging”. The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement, or (ii) gives the ~~principal~~company ~~amount~~a choice of ~~$100,000~~net-cash ~~with~~settlement ~~Idea~~or ~~Fabrik~~settlement in its own shares (physical settlement or net-share settlement). ~~This~~The ~~note~~Company ~~bears~~classifies ~~interest~~as atassets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the ~~rate~~contract ofif 8%an ~~per~~event ~~annum~~occurs and ~~all~~if ~~principal~~that ~~and~~event ~~accrued~~is ~~interest~~outside ~~are~~the ~~due~~control onof ~~August~~the 25company), ~~2010~~or (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).

OnCertain ~~September~~prior ~~30,~~periods' ~~2009,~~balances wehave ~~executed~~been anreclassified ~~unsecured~~to ~~note~~conform ~~payable~~to in the ~~principal~~current ~~amount~~period's offinancial ~~$50,000~~statement ~~with~~presentation. ~~the~~These ~~Director~~reclassifications ~~Investor. This~~had ~~note~~no ~~bears~~impact ~~interest~~on atpreviously ~~the~~reported ~~rate~~results of 8%operations ~~per~~or ~~annum~~stockholders' ~~and all principal and accrued interest are due on September 30, 2010~~equity.

OnRECENT ~~September~~ACCOUNTING 30, 2009, we executed an unsecured note payable in the principal amount of $17,700 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on September 30, 2010.PRONOUNCEMENTS

OnRecently ~~October~~Adopted 2,Accounting 2009, we executed an unsecured note payable in the principal amount of $8,000 with Idea Fabrik. This note bears interest at the rate of 8% per annum and all principal and accrued interest are due on October 2, 2010.Pronouncements

OnIn ~~November~~January 2010, 30the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2010-06, ~~2009~~“Fair Value Measurements and Disclosures,” wewhich ~~executed~~amends anthe ~~unsecured~~disclosure ~~note~~requirements ~~payable~~related into recurring and nonrecurring fair value measurements. The guidance requires disclosure of transfers of assets and liabilities between Level 1 and Level 2 of the ~~principal~~fair ~~amount~~value measurement hierarchy, including the reasons and the timing of ~~$100~~the transfers and information on purchases,~~000~~ ~~with~~sales, ~~Idea~~issuance, ~~Fabrik. This~~and ~~note~~settlements ~~bears~~on ~~interest~~a atgross basis in the ~~rate~~reconciliation of 8%the ~~per~~assets ~~annum~~ and ~~all~~liabilities ~~principal~~measured under Level 3 of the fair value measurement hierarchy. The guidance is effective for annual and ~~accrued~~interim ~~interest~~reporting periods beginning after December 15, 2009, except for Level 3 reconciliation disclosures which are ~~due~~effective onfor ~~November~~annual 30and interim periods beginning after December 15, 2010. The Company adopted these amendments in the first quarter of 2010 and the adoption did not have a material impact on the disclosures in the Company’s consolidated financial statements.

OnIn ~~December 24~~September 2009, the FASB issued ASU 2009-17, weImprovements ~~executed~~to anFinancial ~~unsecured~~Reporting ~~note~~by ~~payable~~Enterprises inInvolved ~~the~~with ~~principal~~Variable ~~amount~~Interest Entities, which changes various aspects of ~~$100,000~~accounting ~~with~~for ~~Idea~~and ~~Fabrik. This~~disclosures ~~note~~of ~~bears~~interests in variable interest atentities. ~~the~~ASU ~~rate~~2009-17 ofis 8%effective ~~per~~for ~~annum~~interim and ~~all~~annual ~~principal~~periods beginning after November 15, 2009. The Company adopted these amendments in the first quarter of 2010 and ~~accrued~~the ~~interest~~adoption ~~are~~did ~~due~~not have a material impact on ~~December~~the ~~24,~~Company’s ~~2010~~consolidated financial statements.

F-10

~~NASUS~~In ~~CONSULTING~~September 2009, ~~INC~~the Financial Accounting Standards Board ("FASB") issued authoritative guidance on accounting for transfers of financial assets. This guidance was issued to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial statements about a transfer of financial assets; the effects of a transfer on its financial position, financial performance, and cash flows; and a transferor's continuing involvement, if any, in transferred financial assets. This guidance is effective for fiscal years and interim periods beginning after November 15, 2009. The adoption of this statement did not have a material effect on the Company's consolidated financial statements.

(ARecently ~~Development~~Issued ~~Stage~~Accounting ~~Company)~~Pronouncements Not Yet Adopted

~~Notes~~In toJuly 2010, the Financial ~~Statements~~Accounting Standards Board (“FASB”) issued new accounting guidance that will require additional disclosures about the credit quality of loans, lease receivables and other long-term receivables and the related allowance for credit losses. Certain additional disclosures in this new accounting guidance will be effective for the Company on December 31, 2010 with certain other additional disclosures that will be effective on March 31, 2011. The Company does not expect the adoption of this new accounting guidance to have a material impact on its consolidated financial statements.

Note Holder	Principal plus Accrued Interest		Due Date
Director investor	$	34,363	June 29, 2010
Director investor		17,702	June 29, 2010
Director investor		25,994	July 8, 2010
Director investor		51,022	September 30, 2010
		129,081
Idea Fabrik		103,201	August 11, 2010
Idea Fabrik		102,884	August 25, 2010
Idea Fabrik		204,225	September 28, 2010
Idea Fabrik		18,062	September 30, 2010
Idea Fabrik		8,160	October 2, 2010
Idea Fabrik		100,689	November 30, 2010
Idea Fabrik		100,044	December 24, 2010
		637,265
	$	766,346

In April 2010, the FASB issued ASU 2010-13, “Compensation — Stock Compensation (Topic 718) — Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades.” ASU 2010-13 provides amendments to Topic 718 to clarify that an employee share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity’s equity securities trades should not be considered to contain a condition that is not a market, performance, or service condition. Therefore, an entity would not classify such an award as a liability if it otherwise qualifies as equity. The amendments in ASU 2010-13 are effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2010 and are not expected to have a significant impact on the Company’s consolidated financial statements.

~~For~~In March 2010, the ~~year~~FASB ~~ended~~issued ~~December~~ASU 31No. 2010-11, ~~2009,~~“Derivatives weand ~~paid~~Hedging ~~Princeton~~(Topic ~~Partners~~815) ~~LLC,~~— ~~whom~~Scope ~~our~~Exception ~~CEO~~Related to Embedded Credit Derivatives.” ASU 2010-11 clarifies that the only form of an embedded credit derivative that is exempt from embedded derivative bifurcation requirements are those that relate to the ~~principal~~subordination of one financial instrument to another. As a result, entities that have contracts containing an embedded credit derivative feature in a ~~total~~form ofother ~~$72,672~~than ~~for~~such ~~CEO~~subordination ~~services~~may ~~provided~~need to separately account for the ~~Company~~embedded credit derivative feature. Of ~~this~~The ~~amount,~~provisions $5of ASU 2010-11 will be effective on July 1,~~000~~ ~~was~~2010 ~~accrued~~and ~~but~~are not ~~paid~~expected asto ofhave ~~December~~a ~~31,~~significant ~~2009~~impact on the Company’s consolidated financial statements.

~~For~~In ~~the~~October ~~year~~2009, ~~ended~~the ~~December~~FASB ~~31,~~issued ASU No. 2009-14, we“Software ~~paid~~(Topic an985) ~~officer~~— Certain Revenue Arrangements That Include Software Elements (A Consensus of the ~~Company,~~FASB ~~who~~Emerging isIssues ~~not~~Task anForce)”. ~~employee,~~ASU ~~$12,750~~2009-14 ~~for~~requires ~~financial~~tangible products that contain software and ~~accounting~~non-software ~~services~~elements ~~provided~~that work together to deliver the ~~company~~products essential functionality to be evaluated under the accounting standard regarding multiple deliverable arrangements. This standard update is effective January 1, 2011 and may be adopted prospectively for ~~2009~~revenue arrangements entered into or materially modified after the date of adoption or retrospectively for all revenue arrangements for all periods presented. The Company does not expect that this standard update will have a significant impact on its consolidated financial statements.

In ~~February~~September 2009, ~~2010~~the FASB issued certain amendments as codified in ASC Topic 605-25, we“Revenue ~~executed~~Recognition; Multiple-Element Arrangements.” These amendments provide clarification on whether multiple deliverables exist, how the arrangement should be separated, and the consideration allocated. An entity is required to allocate revenue in an ~~unsecured~~arrangement ~~note~~using ~~payable~~estimated selling prices of deliverables in the ~~principal~~absence ~~amount~~ of ~~$50,000~~vendor-specific ~~with~~objective ~~Idea~~evidence ~~Fabrik~~or third-party evidence of selling price. ~~This~~ ~~note~~These ~~bears~~amendments ~~interest~~also ateliminate the ~~rate~~use of 8%the ~~per~~residual ~~annum~~method and ~~all~~require ~~principal~~an ~~and~~entity ~~accrued~~to ~~interest~~allocate revenue using the relative selling price method. The amendments significantly expand the disclosure requirements for multiple-deliverable revenue arrangements. These provisions are ~~due~~to be applied on a prospective basis for revenue arrangements entered into or materially modified in ~~February~~fiscal years beginning on or after September 15, 2010, with earlier application permitted. The Company will adopt the provisions of these amendments in its fiscal year 2011 and is currently evaluating the impact of these amendments to its consolidated financial statements.

~~NOTE~~Other 5accounting –standards ~~INCOME~~that ~~TAXES~~have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.

As of December 31, 2009, we had net operating loss carryforwards available to offset future federal income tax of approximately $700,000. Such carryforwards expire between years 2028 through 2029. Under the Tax Reform Act of 1986, the amount of and the benefit from net operating losses that can be carried forward may be limited in certain circumstances. Events that may cause changes in the our tax carryovers include, but are not limited to, a cumulative ownership change of more than 50% over a three-year period. Therefore, the amount available to offset future taxable income may be limited. As of December 31, 2009, we recorded a deferred tax valuation allowance equal to 100% of total deferred assets. In recording this allowance, we have considered a number of factors, but chiefly, our sustained operating losses from inception of our development stage. We have concluded that a valuation allowance is required for 100% of the total deferred tax assets as it is more likely than not that the deferred tax assets will not be realized.

F-11

~~NASUS~~NOTE ~~CONSULTING,~~3 ~~INC.~~INCOME TAXES

(AAs ~~Development~~of December ~~Stage~~31, 2010 and 2009 the Company) had Federal and state net operating losses of approximately $670,000 and $719,000, respectively, that are subject to limitations. The losses are available to offset future income. The net operating loss carryfowards will expire in various years through 2028 subject to limitations of Section 382 of the Internal Revenue Code, as amended. The Company has provided a valuation reserve against the full amount of the net operating loss benefit, because in the opinion of management based upon the earning history of the Company, it is more likely than not that the benefits will not be realized.

~~Notes~~The toCompany adopted ASC 740 which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between Consolidated Financial Statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes are insignificant.

	December 31,
	2009			2008
Deferred tax assets
Net operating loss carryforwards (long-term)	$	105,657		$	1,260
Accrued interest (current)		2,347			-
		108,004			1,260
Valuation allowance		(108,004	)		(1,260	)
Net deferred tax asset	$	-		$	-

The Tax Reform Act of 1986 imposed substantial restrictions on the utilization of net operating losses and tax credits in the event of an "ownership change", as defined by the Internal Revenue Code. Federal and state net operating losses are subject to limitations as a result of these restrictions. The Company experienced a substantial change in ownership exceeding 50%. As a result, the Company's ability to utilize its net operating losses against future income has been significantly reduced.

The temporary differences that ~~income~~give ~~tax~~rise ~~expense (benefit) differs from the amount computed using the U.S. federal statutory income~~ to deferred tax assets and liabilities ~~rate~~are as follows:

	Years Ended December 31,
	December 31,			December 31,
	2009			2008
	2010			2009
Income tax expense (benefit) computed at federal statutory rate	$	(105,591	)	$	(1,473	)
Deferred tax asset due net operating losses	$	227,000		$	242,000
Federal income tax refund		(1,153	)
Less: Valuation allowance		(227,000	)		(242,000	)
State income taxes		-			456
Net deferred tax asset	$	0		$	0
Other, net		-			331
Change in valuation allowance		106,744			-
Income tax expense (benefit)	$	-		$	(686	)

AtIn ~~December~~assessing ~~31,~~the ~~2009~~amount ~~and~~of ~~2008~~deferred tax asset to be recognized, wemanagement considers whether ~~had~~it nois ~~liability~~more ~~for~~likely ~~unrecognized~~than ~~tax~~not ~~benefits~~that ~~and~~some noof ~~accrual~~the ~~for~~losses will be used in the ~~payment~~future. Management ofexpects ~~related~~that ~~interest~~they will not have benefit in the future. Accordingly, a full valuation allowance has been established.

~~Interest~~NOTE ~~costs~~4– ~~related~~FAIR toVALUE ~~unrecognized~~OF ~~tax~~FINANCIAL benefits (if any) are classified as interest expense in the accompanying consolidated statements of operations. Penalties, if any, are recognized as a component of “selling, general and administrative expenses.” The Company recognized $0 of interest expense related to unrecognized tax benefits for the years ended December 31, 2009 and 2008. Any of our uncertain tax positions are related to tax years that remain subject to examination by relevant tax authorities. We have not been examined by the Internal Revenue Service since inception and, therefore, our tax returns are open for review for all years since inception.INSTRUMENTS

The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and debt. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and/or approximate market interest rates of these instruments. The estimated fair value is not necessarily indicative of the amounts the Company would realize in a current market exchange or from future earnings or cash flows.

The Company adopted Statement of ASC Topic 820 Fair Value Measurements (“ASC Topic 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The standard provides a consistent definition of fair value which focuses on an exit price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard also prioritizes, within the measurement of fair value, the use of market-based information over entity specific information and establishes a three-level hierarchy

for fair value measurements based on the nature of inputs used in the valuation of an asset or liability as of the measurement date.

The three-level hierarchy for fair value measurements is defined as follows:

Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets;

F-12

~~NASUS~~· ~~CONSULTING~~Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, ~~INC.~~and inputs that are observable or the asset or liability other than quoted prices, either directly or indirectly including inputs in markets that are not considered to be active;

(A· ~~Development~~Level ~~Stage~~3 ~~Company)~~– inputs to the valuation methodology are unobservable and significant to the fair value measurement

~~Notes~~Assets tomeasured ~~Financial~~at ~~Statements~~fair value on a recurring basis are summarized below:

On June 17, 2009, our Board unanimously approved a 20 for 1 forward split (the “Split”) of the issued and outstanding shares of our common stock to the stockholders of record as of July 1, 2009. After the Split, the number of shares of common stock issued and outstanding was 22,640,000. The effect of the Split has been applied retroactively to all common stock share and per share data, and related disclosures in the financial statements for all years presented in this report.

			Fair value measurement at reporting date using
	December 31,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	2010		(Level 1)		(Level 2)		(Level 3)
Assets
Cash and Cash Equivalents:
Bank Accounts	$	7,369	$	7,369		—		—
Marketable securities:
Common Stock		-0-		-0-
Preferred/Fixed
Rate Cap
Securities
Total assets	$	7,369	$	7,369		—		—

InNo ~~June~~other ~~2009,~~than wetemporary ~~agreed~~impairments towere ~~issue~~recognized ~~$4,560 of our common stock to our CEO as part of payment~~ for ~~services provided for~~ the ~~month~~years ofended ~~June~~December ~~2009. The number of shares to be issued has not been determined as the CEO and the Board have not concluded on the price per share for the common stock to be issued. We recorded the $4~~31,~~560~~ as2010 ~~a stock subscription~~ and ~~an increase to stockholders’ equity as of December 31,~~ 2009.

NOTE 75 – ~~SUBSEQUENT~~CAPITAL ~~EVENTS~~STOCK AND EQUITY AND BOARD OF DIRECTORS CHANGE

InOn ~~October~~August ~~2009~~27, we2010, ~~executed a six-month agreement with a public relations firm (~~the ~~“Firm”)~~Company insold ~~the~~an ~~amount~~aggregate of ~~$35~~3,~~000~~020,367 ~~per~~shares ~~month. We made one payment in the amount~~ of ~~$35,000~~common ~~and~~stock ~~elected~~ to ~~terminate~~a ~~the~~total ~~agreement~~of ~~after~~15 ~~the~~individuals ~~first month, and as allowed~~ for ~~under~~gross ~~the~~proceeds ~~agreement. In~~of ~~April 2010, the Firm communicated to us that we owe an additional~~ $701,~~000 under the contract~~366, ~~a claim that we vehemently deny~~596. The ~~Firm~~Company ~~has~~sold ~~not~~these ~~communicated~~shares ~~any~~of ~~claim~~common instock ~~writing,~~pursuant ~~and~~to ~~no legal action has been taken by~~ the ~~Firm~~registration orexemption ~~us. We~~afforded ~~believe~~ the ~~claim~~Company tounder beRegulation ~~frivolous~~S ~~and~~promulgated ~~without~~under ~~merit, and accordingly, no adjustment has been made to our financial statements as of December 31, 2009.~~the

InSecurities ~~February~~Act ~~2010~~of 1933, weas ~~executed~~amended ~~an unsecured note payable in~~ (the ~~principal~~"Securities ~~amount of $50~~Act"),~~000~~ ~~with~~due ~~Idea~~to ~~Fabrik. This~~the ~~note~~facts ~~bears~~that ~~interest~~all atof the ~~rate~~purchasers ofwere 8%non-US ~~per~~residents ~~annum~~ and ~~all~~the ~~principal~~Company ~~and~~did ~~accrued~~not ~~interest~~solicit ~~are~~individuals ~~due~~or inadvertise ~~February~~the ~~2011~~offering of securities.

The shares for this registration were not issued until March 31, 2011. See Note 8-Subsequent Events.

After expenses of the above private placement the Company netted $732,145 of proceeds.

F-13

On August 27, 2010, the Company issued an aggregate of 20,000,000 to William G. Forhan in consideration for services rendered to the Company. The shares were issued pursuant to the registration exemption afforded the Company under Section 4(2) of the Securities Act due to the fact that the issuance did not involve a public offering of securities and was made to one individual.

On August 27, 2010, the Company issued an aggregate of 20,000,000 to DewFish and Company, Inc. in consideration for services rendered to the Company. The shares were issued pursuant to the registration exemption afforded the Company under Section 4(2) of the Securities Act due to the fact that the shares were issued for services rendered, the issuance did not involve a public offering of securities and was made to one entity.

On August 27, 2010, the Company issued an aggregate of 20,000,000 to Ralph Oelbermann in consideration for consulting services rendered to the Company. The shares were issued pursuant to the registration exemption afforded the Company under Section 4(2) of the Securities Act due to the fact that the shares were issued for services rendered, the issuance did not involve a public offering of securities and was to one individual.

As a result of the Company issuing a total of 60,000,000 shares of common stock there was in effect, a change of control of the Company. The persons who acquired such control are William G. Forhan, DewFish and Company, Inc. and Ralph Oelbermann, each beneficially owning on August 27, 2010 approximately 23.35% of the Company's common stock and together, approximately 70.04%.

In connection with the August 27, 2010 change of control Oleksandr Shalash, John Jenkins and Thomas Kellgren each resigned from the Board of Directors of the Company. John Jenkins also resigned as the Company's Chief Executive Officer and Chief Financial Officer, and Robert Ogden resigned as the Company's Treasurer and Secretary. There were no disagreements between the Company and any of the directors or officers who resigned.

Upon the aforementioned resignations, William G. Forhan, Robert Kuechenberg, Brad Shrader and Steven York were subsequently elected as the Company's directors by majority consent of the common stockholders. Board members Mr. Kuechenberg and Mr. York each received 50,000 upon being elected to the board of directors. The Board of Directors then appointed Mr. Forhan as the Company's Chief Executive Officer and Chief Financial Officer, and Mr. Brad Shrader as the Company's Chief Operating Officer.

Common Stock

The Company had 200,000,000 shares of $.001 par value common stock authorized as of December 31, 2010 and 2009. Total shares issued and outstanding were 83,715,000 as of December 31, 2010 and 22,640,000 as of December 31, 2009.

Options

As of December 31, 2010 and 2009, no options to purchase common stock of the Company were outstanding.

NOTE 6 – COMMITMENTS AND CONTINGENCIES

The Company’s executive and operations offices are located in Palm Beach Gardens, Florida. The Company pays rent on a monthly basis of $10,859 per month. The current lease arrangement expires on September 30, 2011.

F-14

The Company entered into an employment agreement with William G. Forhan to serve as our Chief Executive Officer and Chief Financial Officer, the term of which was approximately three years ending on July 19, 2013 and subject to renewal or termination with or without cause. Mr. Forhan received an annual base salary of Two Hundred Thousand Dollars ($200,000) per year during the term of his employment, payable in accordance with the Company’s semi-monthly payroll disbursement cycle. Under this agreement, Mr. Forhan was also entitled to be paid a bonus of five percent (5%) of our annual EBITDA, in cash and a $500 monthly car allowance. On December 21, 2010, Mr. Forhan voluntarily resigned from his positions as our Chief Executive and Financial Officer and his employment agreement was effectively terminated. Following this event, Mr. Forhan served as our Chief Operating Officer until January 11, 2011, at which time he also voluntarily resigned from that position. Mr. Forhan had previously been removed as a Director by a majority vote of our shareholders on December 16, 2010.

On the Transaction Date, the Company also entered into an employment agreement with Brad Shrader to serve as our Chief Operating Officer. The term of this agreement was to expire on August 23, 2013, subject to renewal or termination with or without case. Through this agreement, Mr. Shrader received an annual base salary of $135,000 plus a bonus equal to 1.5% of the Company’s EBITDA and a $500 per month car allowance. Mr. Shrader also received 200,000 shares of the Company’s common stock and an option to purchase up to 50,000 shares of the Company’s common stock for a purchase price of $.20 per share until the third anniversary from the grant date of the option.

On December 16, 2010, Mr. Shrader was terminated as the Company’s Chief Operating Officer due to disagreements he had with other members of management. In accordance with the terms of his employment agreement, its termination also constituted the resignation by Mr. Shrader from our Board of Directors. Mr. Shrader’s shares and options to purchase additional shares as provided for by the employment agreement were also cancelled. Mr. Shrader accepted the termination of his employment agreement but has claimed he is owed approximately $12,500 for accrued wages, unpaid expenses and severance. The Board of Directors has evaluated these claims and disputes that Mr. Shrader is owed any additional amounts.

On December 16, 2010, the Company appointed William A. Glynn to serve as our Chief Executive Officer, Chief Financial Officer and Treasurer at an annual salary of $52,000. Mr. Glynn also receives travel and other reasonable and necessary expenses he incurs.

The Company entered into various consulting agreements related to services to be rendered by the consultants. The agreements are on a month to month basis.

NOTE 7 - PROPERTY AND EQUIPMENT

Property and Equipment consist of the following:

Property and Equipment:	Estimated Life	December 31, 2010		December 31, 2009
Computer and software	5 Years		18,749	-0-
Total Property and Equipment		$	18,749	-0-
Accumulated Depreciation			(10,000)	(0)
Total Property and Equipment, Net		$	8,749	-0-

NOTE 8: SUBSEQUENT EVENTS

The Company has evaluated all subsequent events through the filing date of this Form 10-K for appropriate accounting and disclosures.

On October 19, 2010, National Asset Recovery Corp., a Nevada corporation (the “Company”), entered into an Asset Purchase Agreement (the “Agreement”) with Advanced Recovery Florida, a sole proprietorship, and Michael James Blackburn, the owner of Advanced Recovery Florida (the “Owner”).

F-15

Pursuant to the Agreement, the Company purchased 100% of the assets and certain liabilities of Advanced Recovery Florida in consideration of an aggregate of 625,000 full paid and non-assessable shares of Common Stock of the Company (the “Shares”), which represent approximately 0.7% of the issued and outstanding shares of Common Stock of the Company.

Commencing in December 2010, the Company experienced significant changes to management. Mr. Shrader was terminated as our COO and also removed as a Director on December 16, 2010. On December 16, 2010, a majority of the Company’s shareholders also caused Mr. Forhan to be removed from the Board of Directors and elected William A. Glynn and Bradley Wilson as new Directors. Following these events, Mr. Forhan assumed the responsibilities of our COO and Mr. Glynn became the new Chief Executive Officer, Chief Financial Officer and Treasurer. Mr. Wilson became Chairman of our Board of Directors and also was appointed to serve as our Secretary.

Due to the material changes in the composition of our executive management, both Mr. York and Mr. Kuechenberg voluntarily resigned from their positions on the Board of Directors on January 31, 2011 and February 21, 2011, respectively. As of the date, the vacancies created from these departures have not been filled and Mr. Glynn and Mr. Wilson represent all current members of our Board of Directors.

As per the above note Note 5-Common Stock the Company did not issue the shares for the registration dated August 27, 2010 until March 31, 2011 the Company did not issue the shares relating to the private offering dated August 27, 2010 until March 31, 2011 due to the oversight of the Company’s former Chief Executive Officer. The shares have been issued and are outstanding as of March 31, 2011.

In order to meet the Company’s operating capital needs for the first quarter of 2011 the Company has borrowed from Y&K Services, Ltd., a related party. The notes are due one year from the time of the draft and have a yearly interest rate of 5%. As of March 31, 2011 the outstanding balance is $160,966.

NOTE 9 GOING CONCERN ISSUES

The Company had losses from continuing operations of $670,105 during the year ended 2010. At December 31, 2010, the Company had negative working capital of $85,605. The Company had cash on hand of $7.369 at December 31, 2010 which is not sufficient to meet our current cash requirements for the next twelve months.

The Company expects to incur additional losses until sufficient sales of its products are achieved. The Company’s total sales figure for 2010 is $105,333, however the Company is still operating at a loss and substantial sales volumes have not yet been achieved. The Company continues to need operating capital to continue operations. There can be no assurance that the Company's future revenues will ever be significant or that the Company's operations will ever be profitable.

NOTE 10 IMPAIRMENT OF ASSET

In August of 2010 the Company purchased $100,000 of Common Stock of Casino Player Inc. a public held and reporting Company controlled by the former CEO, William G. Forhan. The Common Stock of Casino Players Inc. is not traded as of the current date. The Company has determined this stock as no value and had elected to fully impair the value.

F-16

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