UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

~~QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15~~(dMark One)

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

For the quarterly period ended September 30, ~~2015~~2016

~~TRANSITION REPORT PURSUANT TO SECTION 13 OR~~Or

[ ] TRANSITION REPORT PURSUANT TOSECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ~~ACT OF 1934~~

~~Commission~~ACT ~~file~~OF ~~number~~1934 ~~333-137293~~

~~Greenflag~~For ~~Ventures~~the ~~Inc.~~transition period from_________ to____________

~~(Exact~~Commission ~~name~~file ofnumber: ~~small business issuer as specified in its charter)~~00054082

~~British~~PROSALUTIS ~~Columbia 7370 837632058~~HOLDINGS INC.

~~---------------- ---------------------------- ----------------~~ British Columbia, Canada

~~(State or other (Primary Standard Industrial (I.R.S. Employer~~N/A

~~jurisdiction~~State ~~of Classification~~or ~~Code~~other ~~Number) Identification~~jurisdiction of

~~incorporation Code~~(I.R.S. ~~Number)~~Employer

incorporation or organization)

~~804-750~~ Identification ~~WEST PENDER STREET, VANCOUVER, B~~No.~~C, CANADA V6C 2T7~~)

804- 750 West Pender Street, Vancouver, British Columbia, Canada V6C 2TZ

(Address of principal executive offices)

778-654-3221

(Registrant’s telephone number~~, including area code~~)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the last 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

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

The number of shares of Common Stock, no par value, outstanding on was 51,909,269 shares as of March 21, 2016.

Transitional Small Business Disclosure Format (check one): Yes X No

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

Our financial statements included in this Form 10-Q are as follows:
	Balance Sheets as of September 30, 2015 (unaudited) and March 31, 2015 (audited);
	Statements of Operations for the three and six months ended September 30, 2015 and 2014, (unaudited)
	Statements of Cash Flows for the three months and six months ended September 30, 2015 and 2014, (unaudited);
	Statement of stockholders’ equity for the six months ended September 30, 2015 and 2014 (unaudited) Notes to

Greenflag Ventures Inc.

Condensed Consolidated Interim Financial Statements

For The Six Months Ended September 30, 2015

(Unaudited – prepared by management)

(Expressed in US Dollars)

NOTICE OF NO AUDITOR REVIEW OF

INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3(a)), if an auditor has not performed a review of the condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company’s management.

The Company’s independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity’s auditor.

Greenflag Ventures Inc.

Condensed consolidated Balance Sheets

(Unaudited – prepared by management)

(Expressed in US dollars)

	Notes	September 30, 2015	March 31, 2015
ASSETS
Current assets
Cash and cash equivalents		$ 121	$ 216
Receivables	4	3,459	3,459
		3,580	3,675
TOTAL ASSETS		$ 3,580	$ 3,675
LIABILITIES
Trade payables and accrued liabilities	6	$ 373,796	$ 199,295
Convertible loan	7	63,776	63,775
TOTAL LIABILITIES		437,572	263,070
SHAREHOLDERS’ EQUITY (DEFICIENCY)
Share capital	8	3,134,869	2,360,034
Reserve	8	253,264	253,264
Deficit		(3,822,125)	(2,872,693)
TOTAL EQUITY (DEFICIENCY)		(433,992)	(259,395)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$ 3,580	$ 3,675

Subsequent event Note 12

See accompanying notes to the unaudited condensed consolidated interim financial statements

Greenflag Ventures Inc.

Condensed consolidated interim statements of loss and comprehensive loss

(Unaudited – prepared by management)

(Expressed in US dollars)

	Three Months Ended September 30, 2015	Three Months Ended September 30, 2014	Six Months Ended September 30, 2015	Six Months Ended September 30, 2014
EXPENSES
Consulting fees	$ 10,471	$ 67,527	$ 10,471	$ 67,527
Interest and bank charges	38	3,213	95	3,300
Management and director fees	112,545	38,640	112,545	38,640
Office and miscellaneous	10,965	828	11,152	922
Professional fees	34,611	8,891	34,611	10,673
Shareholder communication	-	2,522	-	4,714
Transaction fees	774,835	-	774,835	-
Transfer agent, filing fees and shareholder relations	5,216	3,218	5,723	17,423
	(948,681)	(124,839)	(949,432)	(143,199)
OTHER ITEMS
Miscellaneous income	-	5,144	-	5,583
	-	5,144	-	5,583
Net income (loss) and comprehensive income (loss) for the period	$ (948,681)	$ (119,695)	$ (949,432)	$ (137,616)
Basic and diluted net income (loss) per common share	$ (0.04)	$ (0.01)	$ (0.05)	$ (0.02)
Weighted average number of common shares outstanding	27,847,769	13,890,294	20,591,289	9,081,551

See accompanying notes to the unaudited condensed consolidated interim financial statements

Greenflag Ventures Inc.

Condensed consolidated interim statement of changes in shareholders’ equity

(Unaudited – prepared by management)

(Expressed in US dollars)

			Share capital
	Notes	Number of voting common shares		Amount	Reserve	Deficit	Total
Balance at March 31, 2014		3,890,294		$ 2,279,942	$ 253,264	$ (2,179,948)	$ 353,258
Shares issued for cash		10,000,000		75,030	-	-	75,030
Comprehensive loss for the period		-		-	-	(137,616)	(137,616)
Balance at September 30, 2014		13,890,294		$ 2,354,972	$ 253,264	$ (2,317,564)	$ 290,672
Balance at March 31, 2015		13,255,269		$ 2,360,034	$ 253,264	$ (2,872,693)	$ (259,395)
Shares issued per reorganization (Note 1)		20,654,000		774,835	-	-	774,835
Comprehensive loss for the period		-		-	-	(949,432)	(949,432)
Balance at September 30, 2015		33,909,269		$ 3,134,869	$ 253,264	$ (3,822,125)	$ (433,992)

See accompanying notes to the unaudited condensed consolidated interim financial statements

Greenflag Ventures Inc.

Condensed consolidated interim statements of cash flows

Six months ended September 30,

(Unaudited – prepared by management)

(Expressed in US dollars)

		2015	2014
Operating activities
Income (loss) for the period		$ (949,432)	$ (137,616)
Adjustments for:
Transaction costs		774,835	-
Changes in non-cash working capital items:
Decrease (increase) in prepaids		-	5,247
Decrease (increase) in receivables		-	(1,258)
Increase (decrease) in trade payables and accrued liabilities	13	174,502	48,196
Net cash flows provided by (used in) operating activities		(95)	(85,431)
Financing activities
Shares issued for cash		-	75,030
Net cash flows provided by financing activities		-	75,030
Increase (decrease) in cash and cash equivalents		(95)	(10,401)
Cash and cash equivalents, beginning of period		216	10,531
Cash and cash equivalents, end of period		$ 121	$ 130

See accompanying notes to the unaudited condensed consolidated interim financial statements

GREENFLAG VENTURES INC.

~~NOTES~~(Former TOname, ~~CONDENSED~~former ~~CONSOLIDATED~~address ~~INTERIM~~and ~~FINANCIAL~~former ~~STATEMENTS~~fiscal year)

~~SEPTEMBER~~Indicate 30by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), ~~2015~~and (2) has been subject to such filing requirements for the past 90 days.

~~(UNAUDITED – PREPARED BY MANAGEMENT)~~Yes [ ]

1.No [x]

~~Nature~~Indicate by check mark whether the registrant has submitted electronically and ~~continuance~~posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of ~~operations~~Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

~~Greenflag Ventures Inc. (“Greenflag” or the “Company”) was incorporated on November 25, 2009, under the laws of the province of British Columbia, Canada.~~ Yes [ ]

OnNo July 1, 2015, the Company, then known as WTTJ Corp., a corporation organized under the laws of the State of Michigan (“WTTJ”), entered into a Reorganization Agreement (the “Agreement”) with American First Financial Inc., a corporation organized under the laws of British Columbia (“American First”), wherein WTTJ agreed to acquire 100% of the outstanding shares of common stock of American First, in exchange for 82% of the outstanding shares of common stock of WTTJ.[x]

OnIndicate ~~July~~by ~~15,~~check ~~2015,~~mark ~~the~~whether ~~Company approved amending~~ the ~~Agreement~~registrant sois ~~that~~a ~~the~~large ~~Company~~accelerated ~~and American First would merge~~filer, ~~with~~an ~~American~~accelerated ~~First being the surviving entity of the merger~~filer, ~~and~~a ~~each~~non-accelerated ~~share of WTTJ being exchanged for one share of American First~~filer, ~~thereby~~or ~~effecting~~ a ~~change~~smaller ofreporting ~~domicile of the Company from Michigan to British Columbia~~company. ~~On July 27, 2015, the Agreement was so amended.~~

OnLarge ~~August~~accelerated 6, 2015, American First filed an Amalgamation Application with the province of British Columbia, whereby American First amalgamated with Greenflag Ventures Inc., a British Columbia corporation, with American First as the surviving entity of the amalgamation.filer

~~On August 7, 2015, American First changed its name to “Greenflag Ventures Inc.”~~[ }

OnAccelerated August 11, 2015, WTTJ filed a Certificate of Merger with the State of Michigan, whereby WTTJ merged with and into American First, with American First being the surviving entity of the merger, and each share of WTTJ being exchanged for one share of American First. As American First had already changed its name to Greenflag Ventures, Inc. as of August 11, 2015, WTTJ filed a Certificate of Correction on August 20, 2015, with an effective date of August 11, 2015, clarifying that WTTJ had actually merged with and into “Greenflag Ventures, Inc.”filer

~~The head office, principal address and registered and records office of the Company are located at 1800 – 999 West Hastings Street, Vancouver, British Columbia, V6C 2W2.~~ [ ]

~~These~~Non-accelerated unaudited condensed consolidated interim financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. The Company’s continuation as a going concern is dependent upon the successful results from its activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations. Management intends to finance operating costs over the next twelve months with loans from directors and companies controlled by directors and or private placement of common shares. filer

1.[ }

~~Significant~~Smaller ~~accounting~~reporting ~~policies and basis of preparation~~company

~~The unaudited condensed consolidated interim financial statements were authorized for issue March 21, 2016 by the directors of the Company.~~[x]

~~Statement~~The ofCompany’s ~~compliance~~outstanding ~~and~~common ~~conversion~~shares toas ~~International~~of ~~Financial~~September ~~Reporting~~30, ~~Standards~~2016 was 102,558,842

~~The~~PART ~~unaudited~~1 ~~condensed~~– ~~consolidated~~FINANCIAL interim financial statements, including comparatives, have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (“IAS 34”) using accounting policies consistent with International Financial reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and Interpretations of the IFRS Interpretations Committee (“IFRIC”).INFORMATION

~~These~~Item ~~condensed~~1. ~~interim financial statements do not include all disclosures required by International~~ Financial Reporting Standards (“IFRS”) for annual consolidated financial statements and accordingly should be read in conjunction with the Company’s audited financial statements for the year ended March 31, 2015 prepared in accordance with IFRS as issued by the IASBStatements.

~~Basis~~The offinancial ~~preparation~~statements for the quarter ended September 30, 2016 are provided herein.

~~The~~Prosalutis ~~financial~~Holdings ~~statements of the Company have been prepared on an accrual basis and are based on historical costs, modified where applicable~~Inc. ~~The~~ ~~unaudited~~(formerly ~~condensed~~Greenflag ~~interim~~Ventures ~~financial statements are presented in US dollars unless otherwise noted, which is the Company’s functional currency~~Inc.)

3.Condensed Consolidated Interim Financial Statements

~~Capital~~For ~~management~~The Quarter Ended September 30, 2016

~~The~~(Expressed ~~Company~~in ~~manages~~US its capital structure and makes adjustments to it, based on the funds available to the Company. The Board of Directors does not establish quantitative returns on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. Management considers the Company’s capital structure to primarily consist of the components of shareholder’s equity. Dollars)

~~The~~Prosalutis ~~Company~~Holdings ~~will continue to execute its business model and if it has adequate financial resources to do so~~Inc. ~~Management~~ ~~reviews~~(formerly ~~its~~Greenflag ~~capital~~Ventures ~~management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable~~Inc. ~~There~~) ~~were no changes in the Company’s approach to capital management during the six months ended September 30, 2015. The Company is not subject to externally imposed capital requirements.~~

4.Condensed consolidated statements of financial position

~~Accounts~~(Unaudited ~~receivable~~– prepared by management)

	Sept. 30, 2015	March 31, 2015
Goods and services tax receivable	$ 3,459	$ 3,459

(Expressed in US dollars)


	Notes	September 30, 2016
ASSETS
Current assets
Cash and cash equivalents		$ 12,242
Receivables		3,487
		15,729
Non-current assets
Note Receivable Intangible Asset - Technology	4 1	378,161 100,000
TOTAL ASSETS		$ 493,890
LIABILITIES
Trade payables and accrued liabilities Note Payable	5 7	$ 442,449 300,000
Convertible loan	6	64,287
TOTAL LIABILITIES		806,736
SHAREHOLDERS’ EQUITY (DEFICIENCY)
Common Stock	8	3,657,687
Additional paid-in-capital	8	352,796
Accumulated deficit		(4,323,329)
TOTAL EQUITY (DEFICIENCY)		(312,846)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$ 493,890

~~Exploration~~See ~~and~~accompanying ~~evaluation~~notes ~~assets~~to the unaudited condensed consolidated interim financial statements

	Blackwater East
Cost
Balance, March 31, 2013	$ 544,967
Acquisition costs	66,026
BC METC refund	(131,361)
Balance, March 31, 2014	$ 479,632
Write-off	(479,632)
Balance, March 31, 2015 and September 30, 2015	$ -

	Blackwater East
Cost, cumulative
Legal and other fees	$ 5,528
Geology and consulting	438,298
BC METC refund	(131,361)
Acquisition costs	167,167
Balance, March 31, 2014	$ 479,632

Prosalutis Holdings Inc. (formerly Greenflag Ventures Inc.)

~~Title~~Condensed toconsolidated ~~mineral~~interim ~~properties~~statements ~~involves certain inherent risks due to the difficulties~~ of ~~determining~~loss the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyancing history characteristic of many mineral properties. The Company has investigated title to all of its mineral properties, and, tocomprehensive ~~the best of its knowledge, title to all of its properties, except as described below, are properly registered and in good standing.~~loss

~~The~~(Unaudited ~~following~~– isprepared aby ~~description of the Company’s exploration and evaluation assets and the related spending commitments:~~ management)

~~Blackwater~~(Expressed ~~East~~in US dollars)

During the year ended March 31, 2011 the Company entered into an option agreement with Ansell Capital Corp. (‘Ansell’) to earn up to a 100% interest in the Blackwater East (formerly Kuyakuz) property, located in British Colombia, Canada. This option agreement was approved by the Exchange as the Company’s Qualifying Transaction on March 30, 2011.


	Quarter Ended September 30, 2016

EXPENSES

Interest and bank charges Office and miscellaneous	$ 4,360 1,000
Shareholder communication	1,500
Transfer agent, filing fees and shareholder relations	750

Total expenses	(7,610)


Net income (loss) and comprehensive income (loss) for the period	$ (7,610)

Basic and diluted net income (loss) per common share	$ (0.0001)

Weighted average number of common shares outstanding	102,551,842

~~The~~See ~~Property,~~accompanying ~~which~~notes is comprised of 15 contiguous mineral claims totaling approximately 6,434 hectares, is located in the Omineca mining division approximately 125 kilometres southeast of the municipality of Vanderhoof in the Province of British Columbia, Canada. Pursuant to the ~~option~~unaudited ~~agreement,~~condensed ~~the~~consolidated ~~Company~~interim ~~can~~financial ~~acquire an undivided 70% interest in the Property by meeting the following contractual commitments:~~statements

~~Making $120,048 in staged cash payments (paid- $120,048)~~6

~~Issuing~~Prosalutis ~~300,000~~Holdings ~~common~~Inc. ~~shares~~ (~~300,000~~formerly ~~issued~~Greenflag Ventures Inc.)

5.Condensed consolidated interim statement of changes in shareholders’ equity

~~Exploration~~(Unaudited ~~and~~– ~~evaluation~~prepared ~~assets~~by ~~(cont’d~~management)

~~Incurring~~(Expressed ~~$750,300~~ in ~~exploration~~US ~~work on the Blackwater East property ($438,298 incurred~~dollars)

The Company has a further option to acquire the remaining 30% undivided interest in the Property (for an aggregate interest of 100%) by issuing an additional 220,000 shares of the Company on or before June 7, 2015.


			Share capital
	Notes	Number of voting common shares		Amount	Reserve	Deficit	Total
Balance at June 30, 2016 Shares issued for debt conversion (Note 7 and 8)		50,051,842 2,500,000		$ 3,605,187 2,500	$ 255,296 97,500	$ (4,315,719) -	$ (455,236) 100,000
Shares issued for intellectual property (Note 1 and 7)		50,000,000		50,000	-	-	50,000
Comprehensive loss for the quarter		-		-	-	(7,610)	(7,610)
Balance at September 30, 2016		102,551,842		$ 3,657,687	$ 352,796	$ (4,323,329)	$ (313,846)

~~The~~See ~~Property~~accompanying isnotes ~~subject~~ to athe 2%unaudited ~~net~~condensed ~~smelter~~consolidated ~~returns~~interim ~~royalty~~financial ~~(“NSR”) payable to Ansell, which may be purchased by the Company for $750,300.~~statements

On May 30, 2011, the company entered into a mineral claim purchase agreement with Michael Don Till to purchase 4 mineral claims located in the Omineca Mining Division of BC, by paying $3,001 (paid) and issuing 3,000 common shares (issued).7

~~During~~Prosalutis ~~the~~Holdings ~~year-ended~~Inc. ~~March~~(formerly ~~31,~~Greenflag ~~2015,~~Ventures ~~the Company abandoned the property and wrote off $479,632 to operations~~Inc.)

6.Condensed consolidated interim statements of cash flows

~~Trade~~Quarter ~~payables~~ended ~~and~~September ~~accrued~~30, ~~liabilities~~2016

	Sept. 30, 2015	March 31, 2015
Trade payables	$ 161,068	$ 99,111
Due to related parties	205,226	92,681
Accrued liabilities	7,502	7,503
	$ 373,796	$ 199,295

(Unaudited – prepared by management)

7.(Expressed in US dollars)

Convertible loan


		Quarter Ended September 30, 2016
Operating activities
Income (loss) for the period		$ (7,610)
Changes in non-cash working capital items:
Increase (decrease) in trade payables and accrued liabilities		7,610
Net cash flows provided by (used in) operating activities		-
Increase (decrease) in cash and cash equivalents		-
Cash and cash equivalents, beginning of period		12,242
Cash and cash equivalents, end of period		$ 12,242

OnSee ~~April~~accompanying 8,notes 2013 the Company received $63,776 in convertible loan subscriptions. The loan has bears interest at 10% with interest payable semi-annually. For the year ended March 31, 2015, the Company has accrued $6,378 of interest expense. Upon conversion, the loan will convert into 1,700,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant is exercisable at a price of $0.04 per share in the first year and $0.08 per share thereafter. In relation to the ~~convertible~~unaudited ~~loan~~condensed ~~subscription,~~consolidated ~~the~~financial ~~Company paid a finder’s fee of $6,378 and 170,000 Agent’s Warrants~~statements. ~~The Agent’s Warrants were valued at $3,827 using the Black-Scholes Model and the following assumptions:~~

71.

~~Convertible~~Nature ~~loan~~and ~~(cont’d)~~continuance of operations

Expected life of agent’s warrants	1.5 years
Annualized volatility	131.20%
Risk-free interest rate	1.16%
Dividend rate	0%

Prosalutis Holdings Inc. (“Prosalutis” or the “Company”) was incorporated on November 25, 2009, under the laws of the province of British Columbia, Canada. On March 18, 2016 the Company’s name was changed from Green Flag Ventures Inc. to Prosalutis Holdings Inc.

8From July through September 2015, the Company issued 20,661,500 common shares and completed a reverse merger with American First Financial Inc. (“American First”), a private British Columbia company, pursuant to a reorganization agreement dated July 27, 2015 whereby American First acquired 60% of the issued and outstanding common shares of the Company in exchange for 100% of the issued and outstanding common shares of American First.

~~Share~~Prior ~~capital~~to the reverse merger, American First completed a reorganization with WTTJ, Corp, a corporation incorporated under the laws of the State of Michigan (“WTTJ”) pursuant to a reorganization agreement dated July 1, 2015 whereby WTTJ acquired 100% of the issued and outstanding common shares of American First in exchange for 82% of the issued and outstanding common shares of WTTJ.

~~Authorized~~On ~~share~~March ~~capital~~15, 2016 the Company entered into an exclusive rights agreement whereby the Company agreed to issue 100,000,000 shares in exchange for all rights, title, and interest in intellectual property and all associated patents, patents pending, patent applications, copyright and trademarks relating to a drug trade named SPT1000, a natural metabolite, which has a strong anti-inflammatory effect in the brain (“Technology”). The Company agreed to provide a minimum of $1,500,000.00 USD on a best efforts basis in development and production funding for the continued and further enhancement, improvement, modification and commercialization of the Technology. The Company also agreed to pay a ten percent (10%) royalty based on total net profits received from the commercial sales of the Technology to a third party. As of September 30, 2016 all 100,000,000 shares have been issued.

~~Unlimited~~The ~~number~~head office, principal address and registered and records office of ~~voting~~the ~~common~~Company ~~shares~~are ~~without~~located ~~par~~at ~~value~~1800 ~~and~~– ~~unlimited~~999 ~~number~~West ofHastings ~~non-voting~~Street, ~~common~~Vancouver, ~~shares~~British ~~without~~Columbia, ~~par~~V6C ~~value~~2W2.

~~Share~~These ~~issuances~~unaudited condensed consolidated interim financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. The Company’s continuation as a going concern is dependent upon the successful results from its activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations. Management intends to finance operating costs over the next twelve months with loans from directors and companies controlled by directors and or private placement of common shares.

~~On April 4, 2013 the company issued 40,000 common shares, with a value of $1,501 as consideration towards the acquisition of mineral properties (see Note 5)~~2.

OnSignificant ~~June~~accounting ~~11,~~policies ~~2013~~and ~~the~~basis ~~company issued 220,000 common shares, with a value~~ of ~~$8,253 as consideration towards the acquisition of mineral properties (see Note 5).~~preparation

~~During~~Statement ~~the~~of ~~March~~compliance ~~31,~~and ~~2015~~conversion ~~year,~~to ~~the~~International ~~company~~Financial ~~issued~~Reporting ~~9,364,975 common shares for proceeds of $80,092.~~Standards

OnThe ~~July~~consolidated ~~27,~~annual ~~2015~~financial statements, ~~the~~including ~~Company~~comparatives, ~~issued~~have ~~20,654,000~~been ~~common~~prepared ~~shares~~in ~~valued~~accordance atwith ~~$0.04~~International ~~per~~Accounting ~~common~~Standard ~~share~~34 ~~for~~“Interim ~~$774,835~~Financial ~~included~~Reporting” as(“IAS ~~transaction~~34”) ~~fees~~using onaccounting ~~the~~policies ~~statement~~consistent ofwith ~~loss~~International ~~and~~Financial ~~comprehensive~~reporting ~~loss~~Standards as(“IFRS”) ~~part~~issued ofby the ~~corporate~~International ~~restructure~~Accounting asStandards ~~discussed~~Board in(“IASB”) ~~Note~~and 1Interpretations toof the ~~financial~~IFRS ~~statements~~Interpretations Committee (“IFRIC”).

~~Stock~~Basis ~~options~~of preparation

The ~~Company~~financial ~~has~~statements ~~adopted an incentive stock option plan, which provides that the Board~~ of ~~Directors of~~ the Company ~~may~~have ~~from~~been ~~time~~prepared toon ~~time,~~an inaccrual ~~its~~basis ~~discretion,~~ and inare ~~accordance~~based ~~with~~on ~~the~~historical ~~Exchange requirements~~costs, ~~grant~~modified towhere ~~directors,~~applicable. The ~~officers,~~consolidated ~~employees~~annual ~~and~~financial ~~technical~~statements ~~consultants~~are topresented ~~the~~in ~~Company,~~US ~~non-transferable~~dollars ~~stock~~unless ~~options~~otherwise ~~to purchase common shares~~noted, ~~provided~~which ~~that~~have ~~the~~been ~~number~~converted offrom ~~common shares reserved for issuance will not exceed 10% of~~ the Company’s ~~issued~~functional ~~and outstanding common shares. Under the plan~~currency, anCanadian ~~option’s maximum term is five years from the grant date~~dollars.

~~During~~Intangible ~~the~~Asset ~~year ended March 31, 2015 and the six months ended September 30, 2015 there were no stock options outstanding.~~

8The Company capitalizes acquisition and development costs associated with the Technology as intangible assets. ~~Share~~ ~~capital~~The ~~(cont’d)~~amount capitalized represents fair value at the time the mineral rights are acquired. Upon commencement of commercial production, the Technology will be amortized over its useful life.

~~Warrants~~3.

~~There~~Capital ~~were no changes in warrants during the year ended March 31, 2015 and the six months ended September 30, 2015.~~management

~~Details~~The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company. The Board of ~~warrants~~Directors ~~outstanding~~does asnot atestablish ~~June~~quantitative 30returns on capital criteria for management, ~~2015~~but ~~are~~rather asrelies ~~follows:~~on the expertise of the Company’s management to sustain future development of the business. Management considers the Company’s capital structure to primarily consist of the components of shareholder’s equity.

Number of Shares	Exercise Price	Expiry Date
676,000	$2.25	July 27, 2018*
71,700 -	2.25	August 7, 2018**
747,700

The Company will continue to execute its business model and if it has adequate financial resources to do so. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There were no changes in the Company’s approach to capital management during the three months ended September 30, 2016. The Company is not subject to externally imposed capital requirements.

*the exercise price of the warrants increases by $04.~~45 every year on July 27th until their expiry on July 27, 2018.~~

**theNote ~~exercise price of the warrants increases by $0.45 every year on August 7th until their expiry on August 7, 2018.~~receivable

~~Agent’s~~On ~~Warrants~~October 1, 2015, the Company received a promissory note in the amount of $378,161 in exchange for the issuance of 10,000 common shares of the Company. The promissory note carries an interest rate of 3% per annum, compounded annually, on the unpaid balance and the note is due on October 1, 2020.

~~The~~Should ~~changes~~the inholder ~~agent’s~~of ~~warrants~~the ~~during~~note sell any common shares, the ~~year~~equal ~~ended~~prorated ~~March~~amount ~~31,~~of ~~2015~~the ~~and~~promissory ~~six~~note ~~months~~is ~~ended~~due ~~September~~within ~~30,~~7 ~~2015~~days ~~are~~of asany ~~follows:~~sale of common shares.

	Six months ended Sept. 30, 2015		Year ended March 31, 2015
	Number of warrants	Weighted average exercise price	Number of warrants	Weighted average exercise price
Warrants outstanding, beginning of year	215,270	$ 0.38	215,270	$ 0.38
Warrants expired	(170,000)	(0.04)	-	-
Warrants outstanding, end of year	45,270	$ 2.25	215,270	$ 0.38
Warrants exercisable, end of year	45,270	$ 2.25	215,270	$ 0.38

~~Details~~Trade ofpayables ~~agent’s~~and ~~warrants~~accrued ~~outstanding as September 30, 2015 are as follows:~~liabilities

Number of Agent’s Warrants	Exercise Price	Expiry Date
	September 30, 2016
38,100	$2.25	July 27,2018*
Trade payables	$ 200,688
7,170	2.25	August 7, 2018**
Due to related parties	218,230
45,270
Accrued liabilities	23,777
	$ 442,695

*the exercise price of the warrants increases by $06.~~45 every year on July 27th until their expiry on July 27, 2018.~~

**theConvertible ~~exercise price of the warrants increases by $0.45 every year on August 7th until their expiry on August 7, 2018.~~loan

On April 8, 2013 the Company received $64,287 in convertible loan subscriptions. The loan has bears interest at 10% with interest payable semi-annually. For the quarter ended September 30, 2016, the Company has accrued $1,607 of interest expense. Upon conversion, the loan will convert into 170 units at a price of $380.00 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant is exercisable at a price of $380.00 per share in the first year and $760.00 per share thereafter. In relation to the convertible loan subscription, the Company paid a finder’s fee of $6,429 and 17 Agent’s Warrants. The Agent’s Warrants were valued at $3,857 using the Black-Scholes Model and the following assumptions:

Share capital (cont’d)


Expected life of agent’s warrants	1.5 years
Annualized volatility	131.20%
Risk-free interest rate	1.16%
Dividend rate	0%

~~Reserve~~7.

~~The~~Note reserve records items recognized as share-based compensation expense until such time that the stock options are exercised, at which time the corresponding amount will be transferred to share capital. If the options expire unexercised, the amount remains in the reservesPayable

9On September 1, 2015 the Company entered into a consulting agreement for outreach, radio, and television services with a third party consultant. The services include the following: broadcast of radio & tv interviews, re-broadcast of interviews, newsletter outreach, ancillary press services, company spokesperson services, general financial public relations services, broker dealer introduction services, as well as counsel regarding strategic business and financial plans. In exchange for the services, the Company agreed to a fee of $35,000 due within 60 days, in addition to $400,000 worth stock in the Company, restricted for a maximum of six months. In conjunction with the consulting agreement, the Company signed a promissory note for $400,000 due on October 2, 2015 with a 3% annual interest rate.

~~Related~~As ~~party~~of ~~transactions~~September 30, 2016 the $35,000 fee had not yet been paid and is on the balance sheet in trade payables and accrued liabilities. During the quarter, the Company issued 2,500,000 shares in order to settle $100,000 of the $400,000 promissory note. As of September 30, 2016 the remaining balance due on the promissory note of $300,000 is on the balance sheet in note payable. Additionally, $3,000 in interest expense related to the promissory note for the quarter ended September 30, 2016 has been recorded on the income statement under interest and bank charges as well as on the balance sheet in trade payables and accrued liabilities.

~~Related party balances~~8.

~~The~~Share ~~following amounts due to related parties are included in trade payables and accrued liabilities:~~ capital

	Sept. 30, 2015	March 31, 2015
Companies controlled by former directors of the Company	$ 205,226	$ 92,681

Authorized share capital

~~These~~Unlimited ~~amounts~~number ~~are~~of ~~unsecured,~~voting ~~non-interest~~common ~~bearing~~shares ~~and~~without ~~have~~par novalue ~~fixed~~and ~~terms~~unlimited number of ~~repayment~~non-voting common shares without par value.

~~The~~Share ~~Company accrued management fees of $112,545 to a company controlled by a director of the Company during the six months ended September 30, 2015.~~Consolidation

~~The~~On March 18, 2016 the Company ~~did~~approved ~~not~~a ~~incur~~reverse ~~any~~split ~~related~~of ~~party~~its ~~transactions~~common stock with ~~companies~~a ~~that~~ratio ~~are~~of ~~controlled~~one bypost-split ~~directors~~share for every 1,000 ~~former~~shares ~~directors~~issued and outstanding on that date, orresulting ~~key~~in ~~management~~a ~~personnel~~reduction of ~~the~~its ~~Company~~issued ~~during~~and ~~the~~outstanding ~~six~~common ~~months~~shares ~~ended~~from ~~September~~51,841,769 30to 51,842 ~~2014~~shares. All share and related option information presented in these financial statements and accompanying footnotes has been adjusted retroactively to reflect the decreased number of shares resulting from the split.

~~10.~~Share issuances

~~Financial~~On ~~risk~~August ~~management~~3, 2016, the Company issued 50,000,000 shares valued at $50,000.00 as consideration towards the Technology as per the exclusive rights agreement.

~~The~~On ~~Company~~September is22, ~~exposed~~2016, ~~in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors~~ the ~~risk~~Company ~~management~~issued ~~processes~~2,500,000 ~~inclusive~~shares ofto ~~documented~~pay ~~investment~~down ~~policies~~$100,000 ~~counterparty limits, and controlling and reporting structures. The type~~ of ~~risk~~the ~~exposure~~$400,000 ~~and~~promissory ~~the~~note ~~way~~referenced in ~~which~~Note ~~such exposure is managed is provided as follows:~~ 7.

~~Credit~~Stock ~~risk~~options

~~Credit~~The ~~risk~~Company ishas ~~the~~adopted ~~risk~~an ~~that~~incentive ~~one~~stock ~~party~~option toplan, awhich ~~financial~~provides ~~instrument~~that ~~will~~the ~~fail~~Board toof ~~discharge~~Directors anof ~~obligation~~the ~~and~~Company ~~cause~~may ~~the~~from ~~other~~time ~~party~~ to ~~incur~~time, ain ~~financial~~its ~~loss. The~~discretion, ~~Company’s~~and ~~primary~~in ~~exposure~~accordance towith ~~credit~~the ~~risk~~Exchange isrequirements, ongrant ~~its~~to ~~cash~~directors, ~~held~~officers, inemployees ~~bank~~and ~~accounts.~~technical ~~The~~consultants ~~Company’s~~to ~~cash~~the ~~and~~Company, ~~cash~~non-transferable ~~equivalents~~stock ~~are~~options ~~held~~to atpurchase ~~large~~common ~~Canadian~~shares, ~~financial~~provided ~~institution~~that inthe ~~interest~~number ~~bearing~~of ~~accounts.~~common ~~The~~shares ~~Company~~reserved ~~has~~for noissuance ~~investment~~will innot ~~asset~~exceed ~~backed~~10% ~~commercial~~of ~~paper. The~~the Company’s ~~secondary~~issued ~~exposure~~and tooutstanding ~~risk~~common ~~is on its other receivables~~shares. ~~This~~Under ~~risk~~the isplan, ~~minimal~~an asoption’s ~~receivables~~maximum ~~consist~~term ~~primarily~~is offive ~~refundable~~years ~~government~~from ~~goods~~the ~~and~~grant ~~services sales taxes.~~date

~~Liquidity~~During ~~risk~~the quarter ended September 30, 2016 there were no stock options outstanding.

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company has a planning and budgeting process in place to help determine the funds required to support the Company’s normal operating requirements on an ongoing basis. The Company ensures that there are sufficient funds to meet its short-term business requirements, taking into account its anticipated cash flows from operations and its holdings of cash and cash equivalents.Warrants

~~Historically,~~There ~~the~~were ~~Company's~~no ~~sole~~changes ~~source~~in ofwarrants ~~funding~~during ~~has been~~ the ~~issuance~~quarter ofended ~~equity~~September ~~securities for cash~~30, ~~primarily through private placements~~2016. ~~The Company’s access to financing is always uncertain. There can be no assurance of continued access to significant equity funding.~~

~~10.~~Details of warrants outstanding as at September 30, 2016 are as follows:

Financial risk management (cont’d)


Number of Shares	Exercise Price	Expiry Date

67.6	$22,700.00	July 27, 2018*
7.17 -	22,700.00	August 7, 2018**

74.77

~~Foreign~~*the ~~exchange~~exercise ~~risk~~price of the warrants increases by $4,500.00 every year on July 27th until their expiry on July 27, 2018.

~~The~~**the ~~Company~~exercise ~~has~~price aof ~~trivial~~the ~~balance~~warrants ~~denominated~~increases inby a$4,500.00 ~~foreign~~every ~~currency~~year ~~and~~on ~~believes~~August it7th ~~has~~until notheir ~~significant~~expiry ~~foreign~~on ~~currency~~August ~~risk.~~7, 2018.

~~Interest~~Agent’s ~~rate risk~~Warrants

~~Interest~~The ~~rate~~changes ~~risk~~in isagent’s ~~the~~warrants ~~risk~~during ~~that~~ the ~~fair~~quarter ~~value~~ended orSeptember ~~future~~30, ~~cash flows of a financial instrument will fluctuate because of changes in market interest rates.~~2016:

The risk that the Company will realize a loss as a result of a decline in the fair value of the short-term investments included in cash and cash equivalents is minimal.


	Three months ended September 30, 2016
	Number of warrants	Weighted average exercise price
Warrants outstanding, beginning of quarter	4.53	$ 27,200.00
Warrants outstanding, end of quarter	4.53	$ 27,200.00
Warrants exercisable, end of quarter	4.53	$ 27,200.00

~~Classification~~Details of ~~financial~~agent’s ~~instruments~~warrants outstanding as September 30, 2016 are as follows:

Financial assets included in the statement of financial position are as follows:


Number of Agent’s Warrants	Exercise Price	Expiry Date

3.81	$27,200.00	July 27,2018*
.717	27,200.00	August 7, 2018**

4.527

	Sept. 30, 2015	March 31, 2015
Cash and cash equivalents	$ 121	$ 216
	$ 121	$ 216

*the exercise price of the warrants increases by $4,500.00 every year on July 27^th until their expiry on July 27, 2018.

~~Financial~~**the ~~liabilities~~exercise ~~included~~price inof the ~~statement~~warrants ofincreases ~~financial~~by ~~position~~$4,500.00 ~~are~~every asyear ~~follows:~~on August 7th until their expiry on August 7, 2018.

	Sept. 30, 2015	March 31, 2015
Non-derivative financial liabilities:
Trade payables	$ 373,796	$ 199,294
Convertible loan	63,776	63,776
	$ 437,572	$ 263,070

Reserve

~~Fair~~The ~~value~~reserve records items recognized as share-based compensation expense until such time that the stock options are exercised, at which time the corresponding amount will be transferred to share capital. If the options expire unexercised, the amount remains in the reserves.

~~The fair value of the Company’s financial assets and liabilities approximates the carrying amount~~8.

~~Financial~~Related ~~instruments~~party measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are:transactions

·Related party balances

~~Level~~The 1following –amounts ~~Unadjusted~~due ~~quoted~~to ~~prices~~related inparties ~~active~~are ~~markets~~included ~~for~~in ~~identical~~trade ~~assets~~payables orand accrued liabilities;:

·September 30, 2016 Companies controlled by former directors of the Company $ 224,543

~~Level~~These 2amounts ~~– Inputs other than quoted prices that~~ are ~~observable~~unsecured, ~~for~~non-interest ~~the~~bearing ~~asset~~and orhave ~~liability~~no ~~either~~fixed ~~directly~~terms orof ~~indirectly; and~~repayment.

·The Company did not incur any related party transactions with companies that are controlled by directors, former directors, or key management personnel of the Company during the quarter ended September 30, 2016.

~~Level 3 – Inputs that are not based on observable market data~~9.

~~The~~Financial ~~fair~~risk value of the Company’s receivables, accounts payable and accrued liabilities, approximate their carrying values. The Company’s other financial instruments, being cash and cash equivalents, are measured at fair value using Level 1 inputs. During the year there were no transfers between levels.management

11The Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors the risk management processes, inclusive of documented investment policies, counterparty limits, and controlling and reporting structures. The type of risk exposure and the way in which such exposure is managed is provided as follows:

~~Segmented~~Credit ~~information~~risk

~~The~~Credit ~~Company~~risk ~~operates~~is inthe risk that one ~~reportable~~party ~~operating~~to ~~segment,~~a ~~being~~financial instrument will fail to discharge an obligation and cause the ~~acquisition~~other party to incur a financial loss. The Company’s primary exposure to credit risk is on its cash held in bank accounts. The Company’s cash and ~~exploration~~cash equivalents are held at large Canadian financial institution in interest bearing accounts. The Company has no investment in asset backed commercial paper. The Company’s secondary exposure to risk is on its other receivables. This risk is minimal as receivables consist primarily of ~~mineral~~refundable ~~assets~~government goods and services sales taxes.

~~12.~~Liquidity risk

~~Subsequent~~Liquidity ~~event~~risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company has a planning and budgeting process in place to help determine the funds required to support the Company’s normal operating requirements on an ongoing basis. The Company ensures that there are sufficient funds to meet its short-term business requirements, taking into account its anticipated cash flows from operations and its holdings of cash and cash equivalents.

~~The~~Historically, the Company's ~~has~~sole ~~evaluated~~source ~~subsequent~~of ~~events~~funding ~~from~~has ~~September~~been ~~30,~~the ~~2015~~issuance ~~through~~of ~~March~~equity ~~21,~~securities ~~2016~~for cash, ~~the~~primarily ~~date~~through ~~this~~private ~~report~~placements. ~~was~~The ~~available~~Company’s access to befinancing ~~issued,~~is ~~and~~always ~~determined~~uncertain. ~~there~~There ~~are~~can be no ~~other~~assurance ~~items~~of tocontinued ~~disclose~~access ~~other~~to ~~than~~significant ~~those~~equity ~~disclosed below:~~ funding.

~~Subsequent~~Foreign toexchange ~~September~~risk 30, 2015, the Company completed two private placements and issued 10 million shares and 7 million shares for gross proceeds of $375,150 and $7,000 respectively. In addition, the Company issued 1 million shares for $10,000 in services performed.

~~FORWARD-LOOKING~~The ~~STATEMENTS~~Company has a trivial balance denominated in a foreign currency and believes it has no significant foreign currency risk.

~~This~~Interest ~~document~~rate contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.risk

~~Forward~~Interest ~~Looking~~rate ~~Statements~~risk ~~may~~is ~~include~~ the ~~words~~risk ~~“may,”~~that ~~“could,”~~the ~~“estimate,”~~fair ~~“intend,”~~value ~~“continue,” “believe,” “expect”~~ or ~~“anticipate”~~future orcash ~~other~~flows ~~similar~~of ~~words.~~a ~~These~~financial ~~forward-looking~~instrument ~~statements~~will ~~present~~fluctuate ~~our~~because ~~estimates and assumptions only as~~ of ~~the~~changes ~~date~~in ofmarket ~~this~~interest ~~report~~rates. ~~Except for our ongoing securities laws, we do not intend, and undertake no obligation, to update any forward-looking statement.~~

~~Although~~The werisk ~~believe~~ that the ~~expectations~~Company ~~reflected~~will inrealize ~~any~~a ofloss ~~our~~as ~~forward-looking~~a ~~statements~~result ~~are~~of ~~reasonable,~~a ~~actual~~decline ~~results could differ materially from those projected or assumed~~ in ~~any~~the orfair ~~our~~value ~~forward-looking statements. Our future financial condition and results~~ of ~~operations,~~the ~~as well as any forward~~short-~~looking~~term ~~statements,~~investments ~~are~~included ~~subject~~in tocash ~~change~~ and ~~inherent~~cash ~~risks~~equivalents ~~and~~is ~~uncertainties~~minimal. ~~The factors impacting these risks and uncertainties include, but are not limited to:~~

·Classification of financial instruments

~~increased~~Financial ~~competitive~~assets ~~pressures~~included ~~from~~in ~~existing~~the ~~competitors~~statement ~~and~~of ~~new~~financial ~~entrants;~~position are as follows:


	September 30, 2016
Cash and cash equivalents	$ 12,242
	$ 12,242

~~our~~Financial ~~ability~~liabilities toincluded ~~raise~~in ~~adequate~~the ~~working~~statement ~~capital;~~of financial position are as follows:


	September 30, 2016
Non-derivative financial liabilities:
Trade payables Note Payable	$ 442,449 300,000
Convertible loan	64,287
	$ 806,736

~~deterioration~~Fair ~~in general or regional economic conditions;~~value

·The fair value of the Company’s financial assets and liabilities approximates the carrying amount.

~~adverse~~Financial ~~state~~instruments ormeasured ~~federal~~at ~~legislation~~fair orvalue ~~regulation~~are ~~that~~classified ~~increases~~into one of three levels in the ~~costs~~fair ofvalue ~~compliance,~~hierarchy oraccording ~~adverse~~to ~~findings~~the byrelative areliability ~~regulator~~of ~~with~~the ~~respect~~inputs used to ~~existing~~estimate ~~operations;~~the fair values. The three levels of the fair value hierarchy are:

~~loss~~Level of1 ~~customers~~– orUnadjusted ~~sales~~quoted ~~weakness~~prices in active markets for identical assets or liabilities;

~~inability~~Level to2 ~~achieve~~– ~~sales~~Inputs ~~levels~~other than quoted prices that are observable for the asset or ~~other~~liability ~~operating~~either ~~results~~directly or indirectly; and

~~the~~Level ~~unavailability~~3 of– ~~funds~~Inputs ~~for~~that ~~capital~~are ~~expenditures;~~not ~~and~~based on observable market data.

·The fair value of the Company’s receivables, accounts payable and accrued liabilities, approximate their carrying values. The Company’s other financial instruments, being cash and cash equivalents, are measured at fair value using Level 1 inputs. During the year there were no transfers between levels.

~~operational inefficiencies~~10.

~~For~~Segmented a detailed description of these and other factors that could cause actual results to differ materially from those expressed in any forward-looking statement, please see “Factors That May Affect Our Results of Operations” in this document.information

~~Item~~The 2.Company ~~Management’s~~operates ~~Discussion~~in ~~and~~one ~~Analysis~~reportable ofoperating ~~Financial~~segment, ~~Condition~~being ~~and~~business ~~Results~~development ofin ~~Operations~~North America.

~~Note Regarding Forward Looking Statements~~11.

~~This~~Subsequent quarterly report on Form 10-Q of Greenflag Ventures Inc. for the period ended September 30, 2015, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements which, by definition, involve risks and uncertainties. In particular, statements under the Sections; Description of Business, Management's Discussion and Analysis of Financial Condition and Results of Operations contain forward-looking statements. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation or belief will result or be achieved or accomplished.Events

The ~~following~~Company ~~are~~evaluated ~~factors~~subsequent ~~that could cause actual results or~~ events tothrough ~~differ~~October ~~materially from those anticipated~~1, ~~and~~2016. ~~include~~As ~~but~~of ~~are~~October ~~not~~1, ~~limited to: general economic~~2016, ~~financial and business conditions; changes in and compliance with governmental regulations; changes in tax laws; and~~ the ~~costs~~Company ~~and~~has ~~effects~~no ofmaterial ~~legal~~subsequent ~~proceedings~~events.

~~(a) an abrupt economic change resulting in an unexpected downturn in demand; (b) governmental restrictions or excessive taxes on land; (c) over~~FORWARD-~~abundance~~LOOKING ~~of companies developing commercial properties to lease space or sell the developed building; (d) economic resources to support the development of our projects;~~STATEMENTS

~~(e)~~This ~~expansion~~document ~~plans~~contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, ~~access~~including, but not limited to, ~~potential~~any ~~clients~~projections of earnings, ~~and~~revenue ~~advances~~or inother ~~technology~~financial items; ~~and~~any ~~(f)~~statements ~~lack~~of the plans, strategies and objections of ~~working~~management ~~capital~~for ~~that~~future ~~could~~operations; ~~hinder~~any ~~the~~statements ~~land~~concerning ~~acquisition~~proposed ~~for~~new ~~development~~services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of ~~our~~assumptions ~~projects~~underlying any of the foregoing.

~~Financial~~Forward ~~information~~Looking ~~provided~~Statements inmay ~~this~~include ~~Form~~the ~~10-Q~~words “may,” ~~for~~“could,” ~~periods~~“estimate,” ~~subsequent~~“intend,” ~~to September 30~~“continue,” ~~2015~~“believe,” is“expect” ~~preliminary~~or ~~and~~“anticipate” ~~remains~~or ~~subject~~other tosimilar ~~audit~~words. AsThese ~~such,~~forward-looking statements present our estimates and assumptions only as of the date of this ~~information~~report. isExcept ~~not~~for ~~final~~our orongoing ~~complete~~securities laws, we do not intend, and ~~remains~~undertake ~~subject~~no obligation, to ~~change,~~update ~~possibly~~any ~~materially~~forward-looking statement.

~~Management’s~~Although ~~Discussion~~we ~~and~~believe ~~Analysis~~that the expectations reflected in any of ~~Financial~~our ~~Condition~~forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any or our forward-looking statements. Our future financial condition and ~~Results~~results of ~~Operations~~operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The factors impacting these risks and uncertainties include, but are not limited to:

This Management’s Discussion and Analysis (“MD&A”) is dated March 21, 2016 unless otherwise indicated and should be read in conjunction with the unaudited condensed interim financial statements of Greenflag Ventures Inc. (“Greenflag”, “the Company”, “we”, “our” or “us”) for the six months ended September 30, 2015, and the related notes thereto. These interim unaudited financial statements, including comparatives, have been prepared using accounting policies consistent with International Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and interpretations of the IFRS Interpretations Committee (“IFRIC”). ·

~~For~~increased ~~the~~competitive ~~purposes~~pressures offrom ~~preparing~~existing ~~this~~competitors ~~MD&A,~~and ~~management,~~new in conjunction with the Board of Directors, considers the materiality of information. Information is considered material if: (i) such information results in, or would reasonably be expected to result in, a significant change in the market price or value of Driven common sharesentrants; or (ii) there is a substantial likelihood that a reasonable investor would consider it important in making an investment decision; or (iii) if it would significantly alter the total mix of information available to investors. Management, in conjunction with the Board of Directors, evaluates materiality with reference to all relevant circumstances, including potential market sensitivity.

~~Further information about the Company and its operations can be obtained from the offices of the Company or from www.sedar.com.~~·

~~Cautionary~~our ~~Note~~ability ~~Regarding~~to ~~Forward-Looking~~raise ~~Information~~adequate working capital;

Certain statements contained in the following MD&A constitute forward-looking statements. Such forward looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.·

~~Greenflag,~~deterioration ~~formerly a Capital Pool Company, is a Tier 2 Mining Issuer listed and trading on the TSX Venture Exchange under the ticker symbol GFV, which is engaged~~ in ~~the~~general acquisition and exploration of precious-metal mineral properties. The Company was incorporated on November 25, 2009, under the Business Corporations Act (British Columbia) under the name Driven Capital Corp. The authorized share capital of the Company consists of an unlimited number of voting common shares, without nominal or ~~par~~regional ~~value~~economic ~~and an unlimited number of non-voting common shares, without nominal or par value.~~conditions;

On July 1, 2015, the Company, then known as WTTJ Corp., a corporation organized under the laws of the State of Michigan (“WTTJ”), entered into a Reorganization Agreement (the “Agreement”) with American First Financial Inc., a corporation organized under the laws of British Columbia (“American First”), wherein WTTJ agreed to acquire 100% of the outstanding shares of common stock of American First, in exchange for 82% of the outstanding shares of common stock of WTTJ.·

Onadverse ~~July~~state ~~15,~~or ~~2015,~~federal ~~the~~legislation ~~Company~~or ~~approved~~regulation ~~amending the Agreement so~~ that ~~the~~increases ~~Company and American First would merge, with American First being~~ the ~~surviving~~costs ~~entity~~ of ~~the merger~~compliance, ~~and~~or ~~each~~adverse ~~share~~findings ofby ~~WTTJ being exchanged for one share of American First, thereby effecting~~ a ~~change~~regulator ofwith ~~domicile~~respect ~~of the Company from Michigan~~ to ~~British~~existing ~~Columbia. On July 27, 2015, the Agreement was so amended.~~operations;

On August 6, 2015, American First filed an Amalgamation Application with the province of British Columbia, whereby American First amalgamated with Greenflag Ventures Inc., a British Columbia corporation, with American First as the surviving entity of the amalgamation.·

Onloss ~~August~~of 7,customers ~~2015,~~or ~~American~~sales ~~First changed its name to “Greenflag Ventures Inc.”~~weakness;

On August 11, 2015, WTTJ filed a Certificate of Merger with the State of Michigan, whereby WTTJ merged with and into American First, with American First being the surviving entity of the merger, and each share of WTTJ being exchanged for one share of American First. As American First had already changed its name to Greenflag Ventures, Inc. as of August 11, 2015, WTTJ filed a Certificate of Correction on August 20, 2015, with an effective date of August 11, 2015, clarifying that WTTJ had actually merged with and into “Greenflag Ventures, Inc.”·

~~2.1~~inability to achieve sales levels or other operating results;

~~Blackwater East Project – Nechako Plateau, BC (Qualifying Transaction)~~ ·

~~On December 14, 2010,~~ the ~~Company,~~unavailability ~~as its proposed Qualifying Transaction, entered into an option agreement with Ansell Capital Corp. (“Ansell”) to acquire up to a 100% interest in the Kuyakuz Mountain Property, which is comprised~~ of 15funds ~~contiguous~~for ~~mineral~~capital ~~claims~~expenditures; ~~totaling approximately 6,434 hectares located on the Nechako Plateau of the Omineca Mining Division~~ and approximately 125 kilometres southwest of the municipality of Vanderhoof, British Columbia (“Blackwater East”). Pursuant to the option agreement, the Company has the sole and exclusive option to acquire an undivided 70% interest in and to Blackwater East by meeting the following commitments:

The Company has a further option to acquire the remaining 30% undivided interest in Blackwater East (for an aggregate interest of 100%) by issuing to Ansell an additional 220,000 shares of the Company on or before June 7, 2015. The interest being acquired is subject to a 2% net smelter returns royalty (“NSR”) payable to Ansell, which may be purchased by the Company for $750,300. The TSX Venture Exchange gave final acceptance to the acquisition as the Company’s Qualifying Transaction on March 30, 2011. ·

Inoperational addition, in 2011, Greenflag entered into a mineral claim purchase agreement with prospector Michael Don Till to acquire four additional mineral claims, contiguous to and within the existing Blackwater East claims, by paying $3,001 (paid) and issuing 30,000 common shares (issued)inefficiencies. ~~Greenflag also acquired, for the cost of staking, an additional four claims, expanding Blackwater East to 23 contiguous mineral claims totaling approximately 8,472 hectares in area.~~

~~During~~For ~~the previous quarter, Greenflag announced that it applied for~~ a ~~drill~~detailed ~~permit~~description atof ~~Blackwater~~these ~~East.~~and ~~Greenflag’s~~other ~~Multi-Year~~factors ~~Area-Based~~that ~~permit~~could ~~application~~cause ~~proposed~~actual aresults ~~total~~to ofdiffer ~~2,000~~materially ~~metres~~from ofthose ~~diamond~~expressed ~~drilling producing NQ sized core~~ in ~~approximately~~any ~~13 drill holes. Drilling would be confined within the prospective south~~forward-~~southeast~~looking ~~areas of the property~~statement, ~~which~~please ~~were~~see ~~already~~“Factors ~~gridded~~That ~~the~~May ~~previous~~Affect ~~season~~Our ~~for~~Results anof IPOperations” ~~geophysical survey. The permit area covers a regional magnetic anomaly that coincides with~~ in~~-soil~~ geochemical anomalies identified during the 2011 field season, featuring elevated levels of silver, copper, lead and zinc as well as scattered high gold values up to 530 ppb gold. Follow-up prospecting over the coincident anomalies revealed some extensive areas of moderate alteration with some included zones of silicification. The Company also announced that Walcott & Associates had commenced the geophysical work, which included both a ground IP and magnetic survey. The field component of this ~~program has been completed~~document.

OnItem ~~August~~2. 9,Management’s ~~2012,~~Discussion ~~Greenflag~~and ~~announced~~Analysis ~~that the BC Ministry~~ of ~~Energy~~Financial &Condition ~~Mines~~and ~~had~~Results ~~awarded the Multi-Year Area-Based permit for the proposed 2,000 metres~~ of ~~drilling within the prospective south-southeastern areas of the Blackwater East project.~~Operations

OnNote ~~September~~Regarding ~~13,~~Forward ~~2012,~~Looking ~~the Company announced that it had received preliminary results from the geophysical program conducted during the summer at the Blackwater East project~~Statements. Thirty line kilometres of ground induced-polarization (IP) and magnetic surveying was completed over the southeastern portion of the property. This area had been identified as prospective from previously completed soil geochemical surveying and prospecting which was integrated with public domain regional geological mapping and airborne magnetics. Several well-defined IP anomalies trend northerly and northwesterly and occur adjacent to a major regional lineament believed to be a fault structure. The main north-south anomaly, which has been traced for over 1,800 metres, appears to be located near the western boundary of a felsic volcanic sequence which shows variable sericitic alteration along with local zones of phyllic (quartz-sericite-pyrite) alteration. Additionally, this area is underlain by a deep magnetic feature approximately 2 kilometres in diameter, which may represent a buried intrusive. Such an intrusive could represent the source of the alteration fluids and anomalous zinc, lead, silver, gold and copper values identified by the Company’s soil sampling in 2011. The coincidence of anomalous metals in soils, major fault structures, felsic volcanic host rocks, IP chargeability zones possibly indicative of sulphides, and low resistivity zones possibly indicative of clay alteration all located adjacent to an interpreted intrusive body are considered indications of the possible occurrence of intrusive-related gold and/or base metal mineralization.

OnThis ~~April~~quarterly 4,report ~~2013~~on Form 10-Q of Prosalutis Holdings Inc. (formerly Greenflag Ventures Inc.) for the ~~Company~~period ~~issued~~ended 40September 30,~~000~~ ~~shares~~2016, ~~valued~~contains atcertain ~~$1,501~~forward-looking tostatements ~~Ansell~~within asthe ~~per~~meaning of Section 27A of the ~~option~~Securities ~~agreement. On~~Act ~~May~~of 61933, ~~2013~~as amended, and Section 21E of the ~~Company~~Securities ~~paid~~Exchange ~~Ansell~~Act $3of 1934,~~752~~ as ~~per~~amended, which are intended to be covered by the ~~amended~~safe ~~option~~harbors ~~agreement~~created thereby. OnTo ~~June~~the 7extent that such statements are not recitations of historical fact, ~~2013~~such ~~the~~statements ~~Company~~constitute ~~paid~~forward-looking ~~Ansell~~statements anwhich, ~~additional~~by ~~$52~~definition,~~521~~ toinvolve ~~complete~~risks and uncertainties. In particular, statements under the ~~cash~~Sections; ~~payment~~Description ~~portion~~of Business, Management's Discussion and Analysis of ~~the~~Financial ~~option~~Condition ~~agreement.~~and OnResults ~~June~~of 11Operations contain forward-looking statements. Where, ~~2013~~in any forward-looking statement, the Company ~~issued~~expresses ~~220,000~~an ~~shares~~expectation ~~valued~~or atbelief $8as to future results or events,~~253~~ such expectation or belief is expressed in good faith and believed to ~~Ansell~~have asa ~~per~~reasonable basis, but there can be no assurance that the ~~option~~statement ~~agreement~~of expectation or belief will result or be achieved or accomplished.

~~During~~The ~~the~~following ~~year~~are ~~ended~~factors ~~March~~that 31could cause actual results or events to differ materially from those anticipated, ~~2015~~and include but are not limited to: general economic, ~~the~~financial ~~Company~~and ~~abandoned~~business conditions; changes in and compliance with governmental regulations; changes in tax laws; and the ~~property~~costs and ~~wrote-off~~effects ~~$479,632~~of tolegal ~~operations~~proceedings.

~~Share~~(a) ~~Capital~~an abrupt economic change resulting in an unexpected downturn in demand; (b) governmental restrictions or excessive taxes on land; (c) over-abundance of companies developing commercial properties to lease space or sell the developed building; (d) economic resources to support the development of our projects;

~~Subsequent~~(e) expansion plans, access to ~~September~~potential 30clients, ~~2015,~~and ~~the~~advances ~~Company~~in ~~completed~~technology; aand ~~private~~(f) ~~placement~~lack ~~and~~of ~~issued~~working 10capital ~~million~~that ~~shares~~could ~~for~~hinder ~~gross~~the ~~proceeds~~land acquisition for development of ~~$375,150~~our projects.

~~Stock~~Financial ~~Options~~information provided in this Form 10-Q, for periods subsequent to September 30, 2016, is preliminary and remains subject to audit. As such, this information is not final or complete, and remains subject to change, possibly materially.

NoManagement’s ~~stock~~Discussion ~~options~~and ~~were~~Analysis ~~issued~~of ~~during~~Financial ~~the~~Condition ~~six~~and ~~months~~Results ~~ended~~of ~~September 30, 2015.~~ Operations

AsThis ofManagement’s ~~April~~Discussion 2,and ~~2013~~Analysis ~~all~~(“MD&A”) ~~outstanding~~is ~~stock~~dated ~~options~~FE ~~were~~unless ~~waived~~otherwise orindicated ~~cancelled~~and should be read in conjunction with the unaudited condensed interim financial statements of Prosalutis Holdings Inc. At(“the Company”, “we”, “our” or “us”) for the three months ended September 30, ~~2015~~2016, and tothe ~~date~~related notes thereto. These condensed consolidated interim unaudited financial statements, ~~there~~have ~~were~~been noprepared ~~stock~~using ~~options~~accounting ~~outstanding.~~policies consistent with International Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and interpretations of the IFRS Interpretations Committee (“IFRIC”).

~~Selected~~For ~~Quarterly~~the purposes of preparing this MD&A, management, in conjunction with the Board of Directors, considers the materiality of information. Information is considered material if: (i) such information results in, or would reasonably be expected to result in, a significant change in the market price or value of Driven common shares; or (ii) there is a substantial likelihood that a reasonable investor would consider it important in making an investment decision; or (iii) if it would significantly alter the total mix of information available to investors. Management, in conjunction with the Board of Directors, evaluates materiality with reference to all relevant circumstances, including potential market sensitivity.

~~The~~Further ~~quarterly~~information ~~results~~about ~~have~~the ~~been~~Company ~~restated~~and toits ~~reflect~~operations ~~accounting~~can ~~policies~~be ~~consistent~~obtained ~~with~~from ~~IFRS.~~the Aoffices ~~summary~~ of ~~selected information for each of~~ the ~~quarters~~Company ~~presented~~or ~~below~~from ~~is as follows:~~www.sedar.com.

Three months ended	Total assets ($)	Working Capital ($)	Net Loss ($)	Basic and Diluted Loss Per Share ($)
December 31, 2013	513,898	(121,114)	(10,170)	(0.00)
March 31, 2014	503,670	(133,878)	(13,700)	(0.02)
June 30, 2014	496,027	(76,769)	(17,922)	0.00
September 30, 2014	489,280	(196,464)	(119,695)	(0.01)
December 31, 2014	489,355	(251,753)	(62,793)	(0.01)
March 31, 2015	3,675	(259,395)	(492,336)	(0.05)
June 30, 2015	3,618	(260,145)	(751)	(0.00)
September 30, 2015	3,580	(433,992)	(948,681)	(0.04)

Cautionary Note Regarding Forward-Looking Information

~~The~~Certain ~~audited financial~~ statements ~~for~~contained in the ~~year~~following ~~ended~~MD&A ~~March~~constitute ~~31,~~forward-looking ~~2015~~statements. ~~have~~Such ~~been~~forward ~~prepared~~looking onstatements involve a ~~going~~number ~~concern~~of ~~basis~~known ~~which~~and ~~assumes~~unknown ~~that~~risks, ~~the~~uncertainties ~~Company~~and ~~will~~other befactors ~~able~~which tomay ~~realize~~cause ~~its~~the ~~assets~~actual ~~and~~results, ~~discharge~~performance ~~its~~or ~~liabilities~~achievements inof the ~~normal~~Company ~~course~~to ofbe ~~business~~materially ~~for~~different ~~the~~from ~~foreseeable~~any future. ~~The~~results, ~~continuing~~performance ~~operations~~or ofachievements ~~the~~expressed ~~company~~or ~~are~~implied ~~dependent~~by ~~upon~~such ~~its~~forward-looking ~~ability~~statements. toReaders ~~continue~~are tocautioned ~~raise~~not ~~adequate financing and~~ to ~~commence~~place ~~profitable~~undue ~~operations~~reliance inon ~~the~~these ~~future~~forward-looking statements.

~~Results~~Operating ~~of Operations for Greenflag Ventures Inc. for the Three and Six Months Ended September 30, 2015 Compared to the Three and Six Months September 30, 2014.~~Expenses

~~Operating~~There ~~Expenses~~was no revenue realized in the quarter ended September 30, 2016.

~~During~~General ~~the~~and ~~three~~administrative ~~and~~expenses ~~six~~for ~~months~~the quarter ended September 30, ~~2015,~~2016 ~~the~~were ~~Company had operating expenses of~~ $~~948~~7,~~681~~857 ~~and $949,432, as compared to operating expenses~~ of ~~$124,839~~which ~~and~~ $~~143~~4,~~199~~607 ~~during~~represented ~~the~~loan ~~three~~interest ~~and~~on ~~six months ended September 30~~$64,287 ~~2014,~~of anloans ~~increase~~payable of $~~823~~1,~~842~~607 and ~~$806,233,~~loan orinterest ~~approximately~~on ~~660%~~notes ~~and~~payable ~~563%. The increase in operating expenses experienced by the Company was primarily attributable to an increase in transaction fees~~ of $~~774~~400,~~835,~~000 ~~which was the result~~ of ~~the corporate restructure~~$3,000. ~~Refer to notes 1 and 8 to the financial statements for further detail.~~

~~Net~~Liquidity ~~Loss~~and Capital Resources

Currently, we have limited operating capital. The Company ~~had~~anticipates athat ~~net~~it ~~loss~~will ofrequire approximately $~~(948~~1,~~681)~~500,000 ~~and~~of ~~$(949,432)~~working ~~for~~capital to complete all of its desired business activity during the ~~three~~next twelve months. The Company has earned limited revenue from its business operations. Our current capital and ~~six~~our ~~months~~other ~~ended~~existing ~~September~~resources ~~30,~~will ~~2015,~~be assufficient ~~compared~~only to provide a ~~net~~limited ~~loss~~amount of ~~$(119~~working capital,~~695)~~ and ~~$(137~~,~~616)~~ ~~for~~to date, the ~~three~~revenues ~~and~~generated ~~six~~from ~~months~~our ~~ended~~business ~~September~~operations ~~30,~~have ~~2014,~~not abeen ~~change~~sufficient ofto ~~$828,986~~fund ~~and~~our ~~$811,816,~~operations or ~~approximately~~planned ~~693%~~growth. As noted above, we will likely require additional capital to continue to operate our business, and ~~590%.~~to ~~The~~further ~~change~~expand inour ~~net~~business. ~~(loss)~~We ~~experienced~~may bybe unable to obtain the ~~Company~~additional ~~was~~capital ~~primarily~~required. ~~attributable~~Our inability to ~~the~~generate ~~transaction~~capital ~~fees~~or ~~referenced~~raise ~~above~~additional funds when required will have a negative impact on our operations, business development and financial results.

~~Liquidity~~In the event we are not successful in reaching our sustained proceeds from convertible financing and ~~Capital~~private ~~Resources~~placement targets, we anticipate that depending on market conditions and our plan of operations, we may incur operating losses. We base this expectation, in part, on the fact that we may not be able to generate enough gross profit to cover our operating expenses. Consequently, there remains the possibility that the Company may not continue to operate as a going concern in the long term. We are subject to many factors, which could detrimentally affect us. Many of these risk factors are outside management’s control, including demand for our product, our ability to hire and retain talented and skilled employees and service providers, as well as other factors.

~~Currently, we have limited operating capital.~~ The ~~Company~~following ~~anticipates~~discussion ~~that~~outlines itthe ~~will~~state ~~require approximately $500,000~~ of ~~working~~our ~~capital~~liquidity toand ~~complete all of its desired business activity during the next twelve months. The Company has earned limited revenue from its business operations. Our current~~ capital ~~and our other existing~~ resources ~~will~~for ~~be sufficient only to provide a limited amount of working capital, and, to date,~~ the ~~revenues~~period ~~generated~~ended ~~from~~September ~~our business operations have not been sufficient to fund our operations or planned growth. As noted above~~30, ~~we will~~ 2016.

likely require additional capital to continue to operate our business, and to further expand our business. We may be unable to obtain the additional capital required. Our inability to generate capital or raise additional funds when required will have a negative impact on our operations, business development and financial results. Liquidity

InAt ~~the~~September ~~event~~30, ~~we are not successful in reaching our sustained proceeds from convertible financing and private placement targets~~2016, wethe ~~anticipate~~Company ~~that~~had ~~depending~~negative onworking ~~market~~capital ~~conditions and our plan~~ of ~~operations~~$312,848 weof ~~may~~which ~~incur operating losses. We base this expectation~~$12,242 inwas ~~part,~~cash onand ~~the fact that we may not be able to generate enough gross profit to cover our operating expenses~~equivalents. ~~Consequently,~~The ~~there remains the possibility that the~~ Company ~~may~~manages ~~not~~its ~~continue~~capital tostructure ~~operate~~and asmakes aadjustments ~~going concern in the long term. We are subject~~ to ~~many factors~~it, ~~which~~based ~~could~~on ~~detrimentally~~available ~~affect~~funds ~~us. Many of these risk factors are outside management’s control, including demand for our products and services, our ability~~ to ~~hire~~the ~~and retain talented and skilled employees and service providers, as well as other factors~~Company.

~~The~~As ~~following~~of ~~discussion~~September ~~outlines~~30, 2016, the ~~state~~Company ofhas ~~our~~no ~~liquidity~~outstanding ~~and~~commitments ~~capital~~except ~~resources~~ for ~~the~~its ~~period~~best ~~ended~~effort ~~September~~commitment ~~30,~~to ~~2015~~fund $1,500,000 ~~compared~~based toon the ~~fiscal~~Technology ~~year~~Agreement ~~ended~~of March 3115, ~~2015:~~2016. The Company has not pledged any of its assets as security for loans, or otherwise and is not subject to any debt covenants. The Company has sufficient working capital at this time to meet its ongoing financial obligations.

~~Total~~Off-Balance ~~Current~~Sheet ~~Assets & Total Assets~~Arrangements

~~Our~~As ~~unaudited~~of ~~balance~~the ~~sheet~~date ~~reflects that: i) as~~ of ~~September~~this 30filing, ~~2015,~~the weCompany ~~have~~does ~~total~~not ~~current~~have ~~assets~~any ~~of $3,580 as~~off-balance ~~compared~~sheet toarrangements ~~total~~that ~~current assets of $3~~have,~~675~~ ~~at March 31, 2015, a decrease of $95,~~ or ~~approximately 3%; and~~are ~~ii)~~reasonably aslikely ofto ~~September 30~~have, ~~2015,~~a wecurrent ~~have~~or ~~total~~future ~~assets~~effect ~~of $3,580, compared~~on tothe ~~total~~results ~~assets~~ of ~~$3,675~~operations asor offinancial ~~March~~condition ~~31, 2015, a decrease~~ of ~~$95, or approximately 3%. The decrease in~~ the Company's ~~total current assets and in total assets from March 31~~including, ~~2015~~without ~~to September 30~~limitation, ~~2015,~~such ~~was~~considerations ~~primarily~~as ~~attributable~~liquidity toand acapital ~~decrease~~resources inthat ~~the~~have ~~Company’s~~not ~~cash~~previously ~~balance~~been discussed.

AsRELATED ofPARTY September 30, 2015, our unaudited balance sheet reflects that we have cash of $121, as compared to $216 at March 31, 2015, a decrease of $95, or approximately 44%. The Company's accounts receivable of $3,459 did not change from March 31, 2015 to September 30, 2015.TRANSACTIONS

~~Total~~The ~~Current~~following ~~Liabilities~~amounts &due ~~Total~~to ~~Liabilities~~related parties are included in trade payables and accrued liabilities:

~~Our~~Companies ~~unaudited~~controlled ~~balance~~by ~~sheet~~former ~~reflects~~directors ~~that: i) as~~ of September 30, 2015, we have total current liabilities of $373,796 as compared to total current liabilities of $199,295 at March 31, 2015, an increase of $174,501 or approximately 88%; and ii) as of September 30, 2015, we have total liabilities of $437,572 as compared to total liabilities of $263,070 at March 31, 2015, an increase of $174,502 or approximately 66%. The increase in the Company's ~~total current liabilities from March 31, 2015 to September 30, 2015, was primarily attributable to the increase in trade payables from~~ $~~99,111~~ ~~to $161~~224,~~068 and the increase in due to related parties from $92,681 to $205,226 for the year ended March 31, 2015 to the period ended September 30, 2015 respectively.~~543

~~Cash~~These ~~Flow~~amounts ~~for~~are ~~the~~unsecured, ~~Company~~non-interest ~~for~~bearing ~~the Three~~ and ~~Six~~have ~~Month~~no ~~Period~~fixed ~~Ended~~terms ~~September~~of ~~30, 2015 as Compared to the Six Month Period Ended September 30, 2014~~repayment.

~~Operating~~The ~~Activities. During~~Company ~~the~~did ~~six-month~~not ~~period~~incur ~~ended~~any ~~September~~additional ~~30,~~related ~~2015,~~party ~~the~~transactions ~~net~~with ~~cash~~companies ~~used~~that byare ~~the~~controlled ~~Company~~by indirectors, ~~operating~~former ~~activities~~directors, ~~was~~or ~~$(95)~~key asmanagement ~~compared~~personnel ~~to net cash used in operating activities~~ of ~~$(85,431)~~the Company during the ~~six-month~~quarter ~~period~~ ended September 30, ~~2014, a change of $(85,336) or approximately 99%~~2016. ~~The decrease in our net cash used in operating activities was primarily attributable to net income adjusted by an increase in trade payables and accrued liabilities.~~

~~Financing~~Critical ~~Activities. During~~Accounting the six-month period ended September 30, 2015, the net cash provided by financing activities was zero as compared to net cash provided by financing activities of $75,030 during the six-month period ended September 30, 2014, a decrease of $75,030, or approximately 100%. The change in net cash provided by financing activities was primarily attributable to the fact that the Company did not issue any shares for cash in the six months ended September 30, 2015.Estimates

~~Liquidity~~The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses

Atduring ~~September~~the ~~30,~~reporting ~~2015,~~period. ~~the~~Actual ~~Company~~outcomes ~~had~~could ~~negative~~differ ~~working~~from ~~capital~~these ofestimates. ~~$433,992~~The offinancial statements include estimates which, ~~$121~~by ~~was~~their ~~cash~~nature, ~~and~~are ~~equivalents~~uncertain. The ~~Company~~impacts ~~manages~~of ~~its~~such ~~capital~~estimates ~~structure~~are ~~and~~pervasive ~~makes~~throughout ~~adjustments~~the tofinancial itstatements, and may require accounting adjustments based on ~~available~~future ~~funds~~occurrences. Revisions to accounting estimates are recognized in the ~~Company~~period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future that management has made that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the following:

~~As of~~ • the ~~date~~inputs ofused ~~this report, the Company has no outstanding commitments other than maintenance of its property option agreements (which are entirely at the discretion of the Company) and the agreement noted~~ in ~~the~~measurement ~~Related Party Transactions section. The Company has not pledged any of its assets as security~~ for ~~loans,~~warrants ~~or otherwise and is not subject to any debt covenants. The Company has sufficient working capital at this time to meet its ongoing financial obligations.~~

~~The Company is aware of~~ • the ~~current~~inputs ~~conditions~~used in ~~the~~measurement ~~financial~~for ~~markets~~share ~~and~~based ~~has~~payments ~~planned~~expense accordingly. The Company’s current treasury will allow it to fund mineral exploration efforts. If the market conditions prevail or improve, the Company will make adjustment to budgets accordingly. There can be no assurances that the Company will be successful in equity funding in the future.

~~Capital~~• ~~Resources~~the $nil provision for income taxes which is included in the unaudited condensed interim statements of comprehensive loss and recognition of deferred income tax assets and liabilities included in the year-end audited statement of financial position at December 31, 2015.

~~The~~Change ~~following~~in ~~financings~~Accounting ~~have been completed by the Company:~~Policies

Date	Gross Proceeds	Type of Transaction
November 30, 2009	$75,030	Private Placement
August 6, 2010	$150,060	Initial Public Offering
March 30, 2011	$617,872	Private Placement
July 29, 2011	$393,908	Private Placement
December 23, 2011	$464,436	Private Placement
January 31, 2012	$426,170	Private Placement
July 27, 2012	$304,322	Private Placement
August 7, 2012	$32,278	Private Placement
June 7, 2013	$63,776	Private Placement
June 27, 2014	$80,092	Private Placement
October 2015	$375,150	Private Placement

Recent accounting pronouncements

The ~~authorized~~following ~~share~~standards, ~~capital~~amendments, ofand ~~the~~interpretations ~~Company~~have ~~consists~~been ofadopted anby ~~unlimited~~the ~~number~~Company as of ~~voting~~January ~~common~~1, ~~shares~~2015. ~~without~~There ~~nominal~~was orno ~~par~~impact ~~value~~on ~~and~~the anfinancial ~~unlimited~~statements ~~number~~as ofa ~~non-voting~~result ~~common~~of ~~shares without nominal or par value. As at September 30, 2015,~~ the ~~Company’s~~adoption ~~share~~of ~~capital~~these ~~was $3~~standards,~~134,869~~ ~~representing 33~~amendments,~~909,269~~ ~~voting~~and ~~common shares.~~interpretations:

~~The initial 2,000,000 seed common shares were placed in escrow and will be released from escrow on~~ a ~~time basis, as to 10% upon the completion of a QT and an additional 15% every six months thereafter over a period of three years. 100% of the escrow shares have been released.~~)

~~The~~IFRS ~~Company~~8 ~~has~~Operating ~~established~~Segments; a stock option plan for its directors, officers, and consultants under which the Company may grant options to acquire a maximum number of common shares equal to 10% of the total issued and outstanding common shares of the Company at any one time. During the year ended March 31, 2015, no options were issued to consultants of the Company. As of the date of this report, zero options are outstanding and there were 13,255,269 common shares issued and outstanding and 14,048,239 common shares outstanding on a diluted basis.

~~Off-Balance Sheet Arrangements~~b)

AsIAS of32 ~~the~~Financial ~~date~~Instruments; of this filing, the Company does not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on the results of operations or financial condition of the Presentation;

~~Company including, without limitation, such considerations as liquidity and capital resources that have not previously been discussed.~~c)

~~Related~~IAS ~~Party~~36 ~~Transactions~~Impairment of Assets; and

~~Related party balances~~d)

~~The~~IFRIC ~~following~~21 ~~amounts~~Levies. ~~due to related parties are included in trade payables and accrued liabilities:~~

	Sept. 30, 2015	Mar. 31, 2015
Companies controlled by directors of the Company	$ 205,226	$ 92,681

Financial Instruments

~~These~~The ~~amounts~~Company's ~~are~~financial ~~unsecured~~instruments, ~~non-interest~~consisting ~~bearing~~of cash and ~~have~~cash noequivalents ~~fixed~~of ~~terms~~$12,242, approximate fair values due to the relatively short term maturities of ~~repayment~~the instruments. It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

~~Related~~As ~~party~~at ~~transactions~~September 30, 2016, the Company had negative working capital of $312,848 and an accumulated deficit of $4,323,329. The Company’s continuation as a going concern is dependent upon the successful results from the successful development of its new drug product and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations. Management intends to finance operating costs over the next twelve months with loans from directors and companies controlled by directors and or private placement of common shares.

~~The~~For ~~Company~~more ~~recorded~~information ~~management~~see ~~fees~~Note to11 ~~a company controlled by a director~~ of the ~~Company~~notes into the ~~amount~~condensed ofconsolidated ~~$112,545~~interim ~~for~~financial ~~the six months ended September 30, 2015~~statements.

~~The~~Item ~~Company~~3. ~~did~~Quantitative ~~not~~and ~~incur~~Qualitative ~~any~~Disclosures ~~related~~About ~~party~~Market ~~transactions during the six months ended September 30, 2014.~~Risk

~~Related~~Not ~~parties include the Board of Directors, close family members and enterprises which are controlled by these individuals as well as certain persons performing similar functions.~~Applicable

~~Related~~Item ~~party~~4. ~~transactions~~Controls ~~conducted in the normal course of operations are measured at the exchange value (the amount established~~ and ~~agreed to by the related parties)~~Procedures.

~~Proposed~~We ~~Transactions~~maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, 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 Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

~~There~~As ~~are~~required noby ~~proposed~~SEC ~~assets~~Rule or15d-15(b), ~~business~~we ~~acquisitions~~carried orout ~~dispositions~~an evaluation, ~~other~~under ~~than~~the ~~those~~supervision inand with the ~~ordinary~~participation ~~cause~~of our management, ~~before~~including our Chief Executive Officer and Chief Financial Officer, of the ~~board~~effectiveness of ~~directors’~~the ~~consideration~~design and operation of our disclosure controls and procedures as of the end of the period covered by this report. ~~Please~~ ~~see~~Based ~~Section~~on 2the ~~Overview~~foregoing, ~~above~~our ~~for~~Chief ~~more~~Executive ~~details~~Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of September 30, 2016.

~~Critical~~PART ~~Accounting~~II ~~Estimates~~— OTHER INFORMATION

~~The~~Item ~~preparation~~1 of- ~~the~~Legal financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting periodProceedings. Actual outcomes could differ from these estimates. The financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future that management has made that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the following:

• We know of no material pending legal proceedings to which our company or our subsidiary is a party or of which any of our properties, or the ~~inputs~~properties ~~used~~of inour ~~measurement~~subsidiary, ~~for~~is ~~warrants~~the subject. In addition, we do not know of any such proceedings contemplated by any governmental authorities.

~~• the~~We ~~inputs~~know ~~used~~of no material proceedings in ~~measurement~~which ~~for~~any ~~share~~of ~~based~~our ~~payments~~directors, ~~expense~~officers or affiliates, or any registered or beneficial stockholder is a party adverse to our company or our subsidiary or has a material interest adverse to our company or our subsidiary.

•Item ~~the~~1A ~~$nil~~– ~~provision~~Risk for income taxes which is included in the unaudited condensed interim statements of comprehensive loss and recognition of deferred income tax assets and liabilities included in the year-end audited statement of financial position at March 31, 2015.Factors

~~Change~~As ina ~~Accounting~~smaller ~~Policies~~reporting company, we are not required to provide risk factors.

~~Recent~~Item ~~accounting~~2 ~~pronouncements~~- Unregistered Sales of Equity Securities and Use of Proceeds.

~~The~~During ~~following~~the ~~standards~~quarter ended September 30, ~~amendments~~2016 we issued 50,000,000 ~~and~~shares ~~interpretations~~of common stock that have not been ~~adopted~~registered byfor a total cash value of $50,000 in accordance with the ~~Company~~Technology asagreement of ~~April~~March 115, ~~2014~~2016. In ~~There~~addition ~~was~~we noissued ~~impact~~2,500,000 onshares ~~the~~of ~~financial~~common ~~statements~~stock asthat have not been registered for a ~~result~~value of $100,000 which was used to reduce the ~~adoption~~Company’s ofnote ~~these~~payable ~~standards,~~from ~~amendments~~$400,000 ~~and~~to ~~interpretations:~~$300,000.

a)Item 3. Defaults Upon Senior Securities

~~IFRS 8 Operating Segments;~~ None

b)Item 4. Mine Safety Disclosures.

~~IAS 32 Financial Instruments; Presentation;~~ None

c)ITEM 5. OTHER INFORMATION

~~IAS 36 Impairment of Assets; and~~ None.

d)Item 6. Exhibits.

IFRIC 21 Levies.


Exhibit Number		Description
31.1		Certifications of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certifications of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

~~Financial Instruments~~SIGNATURES

~~The~~Pursuant ~~Company's~~to ~~financial~~the ~~instruments,~~requirements ~~consisting~~ of ~~cash~~the ~~and~~Securities ~~cash~~Exchange ~~equivalents~~Act of ~~$121~~1934, ~~approximate fair values due to~~ the ~~relatively~~Registrant ~~short~~has ~~term~~duly ~~maturities~~caused ofthis ~~the~~report ~~instruments.~~to Itbe issigned ~~management’s~~on ~~opinion~~its ~~that~~behalf by the ~~Company is not exposed to significant interest~~undersigned, ~~currency~~thereunto orduly ~~credit risks arising from these financial instruments~~authorized.

AsProsalutis atHoldings ~~September 30, 2015, the Company had negative working capital of $433,992~~Inc. The Company’s continuation as a going concern is dependent upon the successful results from its mineral property exploration activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations. Management intends to finance operating costs over the next twelve months with loans from directors and companies controlled by directors and or private placement of common shares.

~~For~~By:/s/ ~~more~~Mauricio ~~information see Note 11 of the notes to the condensed consolidated interim financial statements.~~Gonzales

~~Other~~ Mauricio ~~MD&A~~Gonzales, Chief ~~Requirements~~Executive Officer

~~None.~~Date: March 10, 2017

Additional Disclosure for Venture Issuers Without Significant Revenue

(a)

Capitalized or expensed exploration and development costs; The required disclosure is presented in the accompanying unaudited condensed consolidated interim financial statements for the period ended September 30, 2015.

(b)

Expensed research and development costs; not applicable.

(c)

Deferred development costs; Not applicable.

(d)

General and administration expenses; The required disclosure is presented in the statements of

comprehensive (income) loss.

(e)

Any material costs, whether capitalized, deferred or expensed, not referred to in (a) through (d);

The required disclosure is presented in the statements of comprehensive (income) loss.

Disclosure of Outstanding Share Data

	Expiry Date	Exercise Price	Number	Total
Common shares (voting)				43,909,269
Stock options				-
Agent warrants	July 27, 2017	1.80	38,100
	August 7, 2017	1.80	7,170	45,270
Share purchase warrants	July 27, 2018	2.30	676,000
	August 7, 2018	2.30	71,700	747,700

Risk Factors

Investing in the common shares of the Company involves risk. Prospective investors should carefully consider the risks described below, together with all of the other information included in this MD&A before making an investment decision. If any of the following risks actually occurs, the business, financial condition or results of operations of the Company could be harmed. In such an event, the trading price of the common shares could decline and prospective investors may lose part or all of their investment.

Exploration and Mining Risks

Resource exploration, development, and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral deposits but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production. Few properties that are explored are ultimately developed into producing mines. The Company will rely upon consultants and others for exploration, development, construction and operating expertise. Substantial expenditures are required to establish mineral resources and mineral reserves through drilling, to develop metallurgical processes to extract the metal from mineral resources, and in the case of new properties, to develop the mining and processing facilities and infrastructure at any site chosen for mining.

No assurance can be given that minerals will be discovered in sufficient quantities to justify commercial operations or that funds required for development can be obtained on a timely basis. Whether a mineral deposit will be commercially viable depends on a number of factors, some of which are: the particular attributes of the deposit, such as size, grade and proximity to infrastructure; metal prices, which are highly cyclical; and government regulations, including regulations relating to prices, taxes, royalties, land tenure, land use, importing and exporting of minerals, and environmental protection. The exact effect of these factors cannot accurately be predicted, but the combination of these factors may result in the Company not receiving an adequate return on invested capital.

The Company will carefully evaluate the political and economic environment in considering any properties for acquisition. There can be no assurance that additional significant restrictions will not be placed on the White River, Blackwater East or Lyn Projects and any other properties the Company may acquire or its operations. Such restrictions may have a material adverse effect on the Company’s business and results of operation.

Future Profits/Losses and Production Revenues/Expenses

capital expenditures may increase in subsequent years as needed consultants, personnel and equipment associated with advancing exploration of the Blackwater East, Lyn and White River Projects, and any other properties the Company may acquire are added. The amounts and timing of expenditures will depend on the progress of ongoing exploration and the results of consultants’ analyses and recommendations. The Company does not expect to receive revenues from operations in the foreseeable future, if at all. The Company expects to incur losses unless and until such time as the Company’s projects and any other properties the Company may acquire enter into commercial production and generate sufficient revenues to fund its continuing operations.

Permits and Licenses

The operations of the Company will require licenses and permits from various governmental authorities. There can be no assurance that the Company will be able to obtain all necessary licenses and permits that may be required to carry out further exploration and development.

Additional Funding Requirements

Further exploration of the Company’s projects will require additional capital. The Company currently does not have sufficient funds to meet its exploration objectives. Accordingly, the continuing development of the Company’s properties will depend upon the Company’s ability to obtain financing through debt financing, equity financing, the joint venturing of projects, or other means.

There is no assurance that the Company will be successful in obtaining the required financing for these or other purposes, including for general working capital.

Environmental Matters

All of the Company’s mining operations will be subject to environmental regulations, which can make operations expensive or prohibit them altogether.

The Company may be subject to potential risks and liabilities associated with pollution of the environment and the disposal of waste products that could occur as a result of its mineral exploration, development and production.

Conflicts of Interest

The Company’s directors and officers may serve as directors or officers of other companies or companies providing services to the Company or they may have significant shareholdings in other companies. Situations may arise where the directors and/or officers of the Company may be in competition with the Company. Any conflicts of interest will be subject to and governed by the law applicable to directors’ and officers’ conflicts of interest. In the event that such a conflict of interest arises at a meeting of the Company’s directors, a director who has such a conflict will abstain from voting for or against the approval of such participation or such terms. In accordance with applicable laws, the directors of the Company are required to act honestly, in good faith and in the best interests of the Company.

Lack of Revenues; History of Operating Losses

The Company has incurred net losses and negative cash flow from its operations since incorporation in November of 2009. Although the Company will hope to eventually generate revenues, significant operating losses are to be anticipated for at least the next several years. To the extent that such expenses do not result in the creation of appropriate revenues, the Company’s business may be materially adversely affected.

Reliance on Key Personnel

The Company will be dependent on the continued services of its senior management team, and its ability to retain other key personnel. The loss of such key personnel could have a material adverse effect on the Company. There can be no assurance that any of the Company’s employees will remain with the Company or that, in the future, the employees will not organize competitive businesses or accept employment with companies competitive with the Company.

Furthermore, as part of the Company’s growth strategy, it must continue to hire highly qualified individuals. There can be no assurance that the Company will be able to attract, assimilate or retain qualified personnel in the future, which would adversely affect its business.

Disclosure of Internal Controls

Management has established processes to provide them sufficient knowledge to support representations that they have exercised reasonable diligence that (i) the audited year-end financial statements do not contain any untrue statement of material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it is made, as of the date of and for the periods presented by the audited year-end financial statements, and (ii) the audited year-end financial statements fairly present in all material respects the financial condition, results of operations and cash flow of the Company, as of the date of and for the periods presented.

In contrast to the certificate required for non-venture issuers under National Instrument 52-109, Certification of Disclosure in Issuers’ Annual and Interim Filings (“NI 52-109”), the Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (“DC&P”) and internal control over financial reporting (“ICFR”), as defined in NI 52-109. In particular, the

certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of:

(i) controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

(ii) a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP (IFRS).

The issuer’s certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in the certificate. Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

Directors and Officers

Kris Kottmeier

CEO and President

Richard DiBiase

Director,

Terry Johnson

Director and CFO

Neal Johnson

Director

Michael Johnson

Director

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

Future Profits/Losses and Production Revenues/Expenses

The Company has no history of operations and expects that its losses will continue for the foreseeable future. There can be no assurance that the Company will be profitable in the future. The Company’s operating expenses and capital expenditures may increase in subsequent years as needed consultants, personnel and equipment associated with advancing exploration of the Blackwater East, Lyn and White River Projects, and any other properties the Company may acquire are added. The amounts and timing of expenditures will depend on the progress of ongoing exploration and the results of consultants’ analyses and recommendations. The Company does not expect to receive revenues from operations in the foreseeable future, if at all. The Company expects to incur losses unless and until such time as the Company’s projects and any other properties the Company may acquire enter into commercial production and generate sufficient revenues to fund its continuing operations.

Permits and Licenses

Additional Funding Requirements

There is no assurance that the Company will be successful in obtaining the required financing for these or other purposes, including for general working capital.

Environmental Matters

All of the Company’s mining operations will be subject to environmental regulations, which can make operations expensive or prohibit them altogether.

Conflicts of Interest

Lack of Revenues; History of Operating Losses

Reliance on Key Personnel

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mining Safety Disclosures.

None.

Item 5. Other Information.

As of July 27, 2015, the Company changed its address to 804-750 West Pender Street, Vancouver, British Columbia Canada, V6C 2T7, and the Company’s new telephone number was 778-654-3221.

Item 6. Exhibits and Reports

Exhibits

Exhibit number		Exhibit description
31.1		Certification pursuant to Section 302 of the Sarbanes-Oxley Act
32.1		Certification pursuant to Section 906 of the Sarbanes-Oxley Act

10.1 Reorganization Agreement (incorporated by reference to Form 8-K filed on July 30, 2015)*

10.2 Amendment to Reorganization Agreement*

3.1 Certificate of Merger, filed with the State of Michigan and effective as of August 11, 2015*

3.2 Certificate of Correction, filed with the State of Michigan on August 20, 2015, and effective as of August 11, 2015*

99.1 American First’s Certificate of Amalgamation, filed with the Province of British Columbia, Canada, on August 6, 2015*

99.2 American First’s Certificate of Change of Name, filed with the Province of British Columbia, Canada on August 7, 2015*

*For a copy of the full exhibit, refer to Form 8-K/A filed on www.otcmarkets.com on February 26, 2016 for the period ending July 1, 2015.

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.

Greenflag Ventures Inc..

By:/s/ Kris Kottmeier

Kris Kottmeier, President,

Chief Executive Officer

Date: March 21, 2016

Filing Compare · PROSALUTIS HOLDINGS INC.