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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP, INC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><B>3751</B></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; font-weight: bold; text-align: center">46-1499235</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of<BR>
 incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Primary Standard Industrial<BR>
Classification Code Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>10358 West McNab Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tamarac, Florida 33321</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel.: 954-682-3693</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and telephone
number,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">including area code, of registrant&rsquo;s
principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Copies of communications to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gregg E. Jaclin, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Anslow &amp; Jaclin, LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>195 Route 9 South, Suite204</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Manalapan, NJ&nbsp;07726</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel. No.: (732) 409-1212</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fax No.: (732) 577-1188</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the
following box. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.&nbsp;&nbsp;See the
definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%">Large accelerated filer</TD>
    <TD STYLE="width: 5%; font-family: Wingdings">o</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">Accelerated filer</TD>
    <TD STYLE="width: 5%; font-family: Wingdings">o</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Non-accelerated filer (Do not check if a smaller reporting company)</TD>
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>&nbsp;</TD>
    <TD>Smaller reporting company</TD>
    <TD STYLE="font-family: Wingdings">x</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Title&nbsp;of&nbsp;Each&nbsp;Class&nbsp;Of&nbsp;Securities&nbsp;to&nbsp;be<BR> Registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount&nbsp;to<BR>
be<BR> Registered&nbsp;<BR> (1)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed<BR> Maximum<BR> Offering<BR> Price&nbsp;per&nbsp;share<BR> (2)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed<BR> Maximum<BR> Aggregate<BR> Offering&nbsp;Price</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount&nbsp;of<BR> Registration<BR> Fee</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%">Common Stock, $0.001 par value per<BR> share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,516,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.20</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">503,300</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68.65</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(1)&nbsp;This Registration
Statement covers the resale by our selling shareholders of up to 2,516,500 shares of common stock previously issued to such selling
shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(2)&nbsp;The offering
price has been estimated solely for the purpose of computing the amount of the registration fee in accordance with Rule 457(o).
Our common stock is not traded on any national exchange and in accordance with Rule 457; the offering price was determined by the
price of the shares that were sold to our shareholders in a private placement memorandum. The price of $0.20 is a fixed price at
which the selling security holders may sell their shares until our common stock is quoted on the OTCBB at which time the shares
may be sold at prevailing market prices or privately negotiated prices. There can be no assurance that a market maker will agree
to file the necessary documents with the Financial Industry Regulatory Authority, which operates the OTC Bulletin Board, nor can
there be any assurance that such an application for quotation will be approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE REGISTRANT HEREBY AMENDS THIS REGISTRATION
STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT
WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION&nbsp;8(a)
OF THE SECURITIES ACT OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT
TO SUCH SECTION&nbsp;8(a), MAY DETERMINE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information in this preliminary prospectus
is not complete and may be changed. These securities may not be sold until the registration statement filed with the U.S. Securities
and Exchange Commission (&ldquo;SEC&rdquo;) is effective. This preliminary prospectus is not an offer to sell these securities
and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The information in this prospectus is
not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to
buy these securities in any state where the offer or sale is not permitted.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 33%; font-weight: bold; border-top: Black 2pt solid; border-bottom: Black 2pt solid; border-left: Black 2pt solid">PRELIMINARY PROSPECTUS</TD>
    <TD STYLE="vertical-align: bottom; width: 34%; font-weight: bold; text-align: center; border-top: Black 2pt solid; border-bottom: Black 2pt solid">SUBJECT TO COMPLETION</TD>
    <TD STYLE="vertical-align: top; width: 33%; font-weight: bold; text-align: right; border-top: Black 2pt solid; border-right: Black 2pt solid; border-bottom: Black 2pt solid">DATED&nbsp; January 7, 2013</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2,516,500 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The selling security holders named in this
prospectus are offering all of the shares of common stock offered through this prospectus.&nbsp;&nbsp;We will not receive any proceeds
from the sale of the common stock covered by this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The selling security holders are offering
2,516,500 shares of the Company&rsquo;s common stock at $0.20 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock is presently not traded
on any market or securities exchange. The selling security holders have not engaged any underwriter in connection with the sale
of their shares of common stock.&nbsp;&nbsp;Common stock being registered in this registration statement may be sold by selling
security holders at a fixed price of $0.20 per share until our common stock is quoted on the OTC Bulletin Board (&ldquo;OTCBB&rdquo;)
and thereafter at prevailing market prices or privately negotiated prices or in transactions that are not in the public market.
The aggregate net proceeds that the selling shareholders will receive assuming all shares are sold at a fixed price of $0.20 per
share is $503,300.&nbsp;There can be no assurance that a market maker will agree to file the necessary documents with the Financial
Industry Regulatory Authority (&ldquo;FINRA&rdquo;), which operates the OTCBB, nor can there be any assurance that such an application
for quotation will be approved. We have agreed to bear the expenses relating to the registration of the shares of the selling security
holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motor Group, Inc. is an emerging
growth company, as defined in Section&nbsp;2(a) of the Securities Act of 1933.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our common stock involves
a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page&nbsp;2 to read about factors you should consider before
buying shares of our common stock.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NEITHER THE SECURITIES AND EXCHANGE
COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS
IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Date of This Prospectus is: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 94%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; font-weight: bold; text-align: center">PAGE</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Prospectus Summary</TD>
    <TD STYLE="text-align: center">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Risk Factors</TD>
    <TD STYLE="text-align: center">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Use of Proceeds</TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Determination of Offering Price</TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Dilution</TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Selling Shareholders</TD>
    <TD STYLE="text-align: center">7</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Plan of Distribution</TD>
    <TD STYLE="text-align: center">8</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Interests of Named Experts and Counsel</TD>
    <TD STYLE="text-align: center">10</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Description of Business</TD>
    <TD STYLE="text-align: center">10</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Description of Property</TD>
    <TD STYLE="text-align: center">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Legal Proceedings</TD>
    <TD STYLE="text-align: center">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Market for Common Equity and Related Stockholder Matters</TD>
    <TD STYLE="text-align: center">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Index to Financial Statements</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Management Discussion and Analysis of Financial Condition and Financial Results</TD>
    <TD STYLE="text-align: center">30</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Plan of Operations</TD>
    <TD STYLE="text-align: center">30</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</TD>
    <TD STYLE="text-align: center">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Directors, Executive Officers, Promoters and Control Persons</TD>
    <TD STYLE="text-align: center">35</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Executive Compensation</TD>
    <TD STYLE="text-align: center">36</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Security Ownership of Certain Beneficial Owners and Management</TD>
    <TD STYLE="text-align: center">36</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Transactions with Related Persons, Promoters and Certain Control Persons</TD>
    <TD STYLE="text-align: center">37</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This summary highlights selected information
contained elsewhere in this prospectus.&nbsp;&nbsp;This summary does not contain all the information that you should consider before
investing in the common stock.&nbsp;&nbsp;You should carefully read the entire prospectus, including &ldquo;Risk Factors&rdquo;,
&ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; and the Financial Statements,
before making an investment decision.&nbsp;In this Prospectus, the terms &ldquo;Panther&rdquo; &ldquo;Company,&rdquo; &ldquo;we,&rdquo;
&ldquo;us&rdquo; and &ldquo;our&rdquo; refer to Panther Motor Group, Inc.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motor Group Inc., a Nevada corporation
(&ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;, or the &ldquo;Company&rdquo;), was formed on May 31, 2012. Through our
wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated on August 11, 2004 (&ldquo;Panther Motors&rdquo;),
we manufacture and provide service to economical and unique personal transport vehicles. Our current product is a personal transport
known by the trademarked name ScootCoupe. It is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed
throughout the United States via fleet sales to commercial users and direct sales to retail consumers. We also provide part and
technical services to our customer base as part of our core business. We derive 80 percent of our revenue from our 40 fleet customers
in the form of vehicle and part sales, and the remaining 20 percent of revenue is derived from direct sales and parts to retail
customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2012, we entered into a Share
Exchange Agreement (the &ldquo;Share Exchange Agreement&rdquo;) with Panther Motors, and all of the shareholders of Panther Motors
(the &ldquo;Panther Motors Shareholders&rdquo;), pursuant to which, we acquired 100% of the issued and outstanding securities of
Panther Motors and, in exchange, the Panther Motors Shareholders received 10,000,000 shares of our common stock representing approximately
100% of the issued and outstanding securities of the Company on a fully diluted basis as of the closing date of the Share Exchange
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 5, 2013, the Company effected
a 2 for 1 forward stock split of our common stock that decreased the price per share to $0.20 and increased the amount of outstanding
shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We presently maintain our principal offices
at 10358 West McNab Road, Tamarac, Florida 33321. Our telephone number is (954) 682-3693.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Emerging Growth Company Status</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging growth company,&rdquo;
as defined in Section 2(a) of the Securities Act of 1933, or the Securities Act, as modified by the Jumpstart Our Business Startups
Act of 2012, or the JOBS Act. As such, we are eligible to take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not &ldquo;emerging growth companies&rdquo; including, but not limited to,
not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements,
and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval
of any golden parachute payments not previously approved. We have not made a decision whether to take advantage of any or all of
these exemptions. If we do take advantage of any of these exemptions, we do not know if some investors will find our common stock
less attractive as a result. The result may be a less active trading market for our common stock and our stock price may be more
volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Section 107 of the JOBS Act
also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the extended transition period provided in Section
7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an &ldquo;emerging growth
company&rdquo; can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies.
We intend to take advantage of the benefits of this extended transition period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We could remain an &ldquo;emerging growth
company&rdquo; for up to five years, or until the earliest of (a) the last day of the first fiscal year in which our annual gross
revenues exceed $1 billion, (b) the date that we become a &ldquo;large accelerated filer&rdquo; as defined in Rule 12b-2 under
the Exchange Act, which would occur if the market value of our common stock that is held by non-affiliates exceeds $700 million
as of the last business day of our most recently completed second fiscal quarter, or (c) the date on which we have issued more
than $1 billion in non-convertible debt during the preceding three-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Where You Can Find Us</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We presently maintain our principal offices at 10358 West McNab
Road, Tamarac, Florida 33321 and our telephone number is (954) 682-3693.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; font-weight: bold; text-align: justify">Common stock offered by selling security holders</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 69%; text-align: justify">2,516,500 shares of common stock. This number represents 11.18% of our current outstanding common stock (1).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Common stock outstanding before the offering</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">22,516,500 common shares.(2)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Common stock outstanding after the offering</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">22,516,500 common shares as of January 7, 2013.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Terms of the Offering</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">The selling security holders will determine when and how they will sell the common stock offered in this prospectus.&nbsp;&nbsp;The selling security holders will sell at a fixed price of $0.20 per share until our common stock is quoted on the OTC Bulletin Board, and thereafter at prevailing market prices or privately negotiated prices or in transactions that are not in the public market.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Termination of the Offering</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">The offering will conclude upon the earliest of (i) such time as all of the common stock has been sold pursuant to the registration statement or (ii) such time as all of the common stock becomes eligible for resale without volume limitations pursuant to Rule 144 under the Securities Act, or any other rule of similar effect.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Use of proceeds</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">We are not selling any shares of the common stock covered by this prospectus. We will not receive any proceeds from the sale of the common stock covered by this prospectus.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">Risk Factors</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">The Common Stock offered hereby involves a high degree of risk and should not be purchased by investors who cannot afford the loss of their entire investment. See &ldquo;Risk Factors&rdquo; beginning on page 2.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 26.25pt">(1)</TD><TD STYLE="text-align: justify">Based on 22,516,500 shares of common stock outstanding as of January 7, 2012.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 26.25pt">(2)</TD><TD STYLE="text-align: justify">Except where we otherwise state, the information we present reflects our 2-for-1 forward stock
split effected on January 5, 2013.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The shares of our common stock being
offered for resale by the selling security holders are highly speculative in nature, involve a high degree of risk and should be
purchased only by persons who can afford to lose the entire amount invested in the common stock. Before purchasing any of the shares
of common stock, you should carefully consider the following factors relating to our business and prospects. If any of the following
risks actually occurs, our business, financial condition or operating results could be materially adversely affected. In such case,
you may lose all or part of your investment.&nbsp;&nbsp;You should carefully consider the risks described below and the other information
in this process before investing in our common stock.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Associated With Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Our
Future Success Is Dependent, In Part, On the Performance And Continued Service Of Dominick Livoti Jr. and Jinxiang Liu, Our Officers
and Directors.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are presently dependent to a great extent
upon the experience, abilities and continued services of Dominick Livoti Jr. and Jinxiang Liu, our officers and directors. The
loss of services of any of the management staff could have a material adverse effect on our business, financial condition or results
of operation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>We
Have No Plans To Pay Dividends.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To date, we have paid no cash dividends
on our common shares. For the foreseeable future, earnings generated from our operations will be retained for use in our business
and not to pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>We
will need subsequent financing however there is no assurance that we will obtain it or obtain it under terms that are agreeable
to us.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although we anticipate that upon realization
and completion of the full amount of this Offering, we will be able to generate additional capital to complete our plans, there
cannot be any assurance that this can be accomplished. Consequently, we may determine a need to obtain additional financing which
could cause additional dilution to subscribing shareholders to this offering. Should full subscription to this offering not be
obtained, the purchasers of the Shares hereby offered may not realize any return on their investment and may be exposed to the
loss of all or substantially all of their investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>We
will Rely on our Intellectual Property Rights, and if we are Unable to Protect these Rights we may Face increased Competition and
our Business may be Materially Adversely Affected. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We regard our intellectual property as
critical to our success, and we rely on copyright, patent and trade secret protection to protect our proprietary rights in intellectual
property. We are currently pursuing and expect to continue pursuing the registration of copyrights, patents and trademarks in the
United States and internationally. Effective trademark, copyright, trade secret or patent protection may not be available in every
country in which our services are or will become available. Any of our intellectual property rights may be challenged, invalidated
or circumvented, or the rights granted thereunder may not provide any competitive advantage. We could also incur substantial costs
in asserting our intellectual property or proprietary rights against others, including any such rights obtained from third parties,
and/or defending any infringement suits brought against us. Others may independently develop substantially equivalent proprietary
information and techniques or otherwise gain access to our trade secrets and know-how. We may be required to obtain licenses to
certain intellectual property or other proprietary rights from third parties. Such licenses or proprietary rights may not be made
available under acceptable terms, if at all. If we do not obtain required licenses or proprietary rights, we could encounter delays
in product development or find that the development or sale of services requiring such licenses is foreclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>We
depend on our suppliers for our components and raw materials, and our production or operating margins would be harmed if the cost
of our raw materials were to significantly increase or if these suppliers are not able to meet our demand and alternative sources
are not available.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because some of the components used to
make our products currently come from single or a limited number of suppliers, we are subject to significant supply and pricing
risks. Many components that are available from multiple sources are at times subject to industry-wide shortages and significant
commodity pricing fluctuations. If our suppliers are unable to meet our demand for components and raw materials and if we are unable
to obtain an alternative source or if the price available from our current suppliers or an alternative source is prohibitive, our
ability to maintain timely and cost-effective production of our products would be seriously harmed and our operating results would
suffer.&nbsp;In addition, as we do not have long-term agreements with our major suppliers and cannot guarantee their stability,
they may stop manufacturing our components at any time, with little or no notice.&nbsp; In addition, if we are required to use
alternative sources, we may be required to redesign some aspects of the affected products, which may involve delays and additional
expense. If there are any significant interruptions in the supply of components or if prices rise significantly, we may be unable
to manufacture sufficient quantities of our finished products or we may be unable to manufacture them at targeted cost levels,
and our business and operating results could be harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Any
errors or defects contained in our products, or our failure to comply with applicable safety STANDARDS could result in recalls,
delayed shipments, rejection of our products and damage to our reputation, and could expose us to regulatory or other legal action.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our products may contain errors or defects
that are discovered after commercial shipments have begun, which could result in the rejection of our products by our retailers,
damage to our reputation, lost sales, diverted development resources and increased customer service and support costs and warranty
claims. Individuals could sustain injuries from our products, and we may be subject to claims or lawsuits resulting from such injuries.
There is a risk that these claims or liabilities may exceed, or fall outside the scope of, our insurance coverage. Moreover, we
may be unable to retain adequate liability insurance in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THERE MAY BE A LOWER THAN ANTICIPATED
ACCEPTENCE OF OUR PRIMARY PRODUCT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is an established market for our
primary product, the ScootCoupe. This market includes resort rental companies and personal users seeking a safer motorcycle. Although
we have conducted market research and there has been excellent interest from customers for our personal transport vehicles, we
do not know if such interest will continue and if we will be able to increase sales of our product. As our primary product is unlike
other vehicles available and does not occupy a highly established market segment, we do not know if we will be able to sustain
a substantial market for our primary product. If we do not sustain and/or grow a market, our sales will suffer and we may not be
profitable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE COST OF RAW MATERIALS USED BY OUR
PRODUCTS MAY FLUCTUATE, WHICH COULD MATERIALLY REDUCE OUR PROFITABILITY. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At times, we may experience significant
increases in our materials costs, primarily as a result of global increases in raw materials costs including steel, composite elements
in fiberglass, and resin materials, as a result of increased demand and limited supply. We also purchase parts provided by suppliers
that are manufactured from steel. The cost of these parts is impacted by the same economic conditions that impact the cost of the
parts our original equipment manufacturer manufactures. The cost to manufacture the ScootCoupe and related service parts may be
affected by fluctuations in prices for these raw materials. If costs of these raw materials increase, our profitability could be
reduced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CHANGES IN GOVERNMENT REGULATIONS COULD
AFFECT THE MARKET FOR OUR PRIMARY PRODUCT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our primary product, the ScootCoupe is
currently &ldquo;street-legal&rdquo; on most non-highway streets in the United States. With the less powerful 49cc model of the
ScootCoupe, users do not need a motorcycle endorsement on their driver&rsquo;s licenses in most states. The ScootCoupe is a unique
vehicle and belongs to an established motorcycle market category; its street legality in all jurisdictions in the United States
has been definitively established. There is a possibility that states or municipalities may alter or change their legal definitions
of motorcycles in the future and the ScootCoupe may not legally be driven on streets, which we believe would significantly hurt
the sales of our product in such locations. In addition, states may determine that the 49cc ScootCoupe requires a motorcycle endorsement
to drive, which would substantially limit the number of potential purchasers of our product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ACCIDENTS AND BAD PUBLICITY COULD SUBSTANTIALLY
HURT OUR SALES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If there are any well publicized accidents
involving the ScootCoupe, our sales could decrease. As our product is unique and has not been highly established in the eyes of
the American public, any adverse publicity could cause consumers to have negative associations with our product, and could hurt
our sales and therefore our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Associated with our Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THERE IS NO CURRENT TRADING MARKET FOR
OUR COMMON STOCK, AND THERE IS NO ASSURANCE OF AN ESTABLISHED PUBLIC TRADING MARKET, WHICH WOULD ADVERSELY AFFECT THE ABILITY OF
OUR INVESTORS TO SELL THEIR SECURITIES IN THE PUBLIC MARKET.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock is not currently listed
or quoted for trading on any national securities exchange or national quotation system. There is no guarantee that any exchange
or quotation system will permit our common stock to be listed and traded. If we fail to obtain a listing on a stock exchange, we
may seek quotation on the OTC Bulletin Board. FINRA has enacted changes that limit quotations on the OTC Bulletin Board to securities
of issuers that are current in their reports filed with the SEC. The effect on the OTC Bulletin Board of these rule changes and
other proposed changes cannot be determined at this time. The OTC Bulletin Board is an inter-dealer, over-the-counter market that
provides significantly less liquidity than stock exchanges. The quotation of our shares on the OTC Bulletin Board may result in
a less liquid market available for existing and potential stockholders to trade our shares, could depress the trading price of
our ordinary shares and could have a long-term adverse impact on our ability to raise capital in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>OUR SECURITIES ARE RESTRICTED SECURITIES
WITH LIMITED TRANSFERABILITY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our securities should be considered a long-term,
illiquid investment. Our common stock has not been registered under the Act, and cannot be sold without registration under the
Act or any exemption from registration. In addition, our common stock is not registered under any state securities laws that would
permit their transfer. Because of these restrictions and the absence of an active trading market for the securities, a shareholder
will likely find it difficult to liquidate an investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THE PRICE OF OUR COMMON STOCK COULD
BE VOLATILE AND COULD DECLINE FOLLOWING THIS OFFERING AT A TIME WHEN YOU WANT TO SELL YOUR HOLDINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Numerous factors, many of which are beyond
our control, may cause the market price of our ordinary shares to fluctuate significantly. These factors include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our earnings releases, actual or anticipated changes in our earnings, fluctuations in our operating results or our failure
to meet the expectations of financial market analysts and investors;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in financial estimates by us or by any securities analysts who might cover our stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>speculation about our business in the press or the investment community;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>significant developments relating to our relationships with our customers or suppliers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>stock market price and volume fluctuations of other publicly traded companies and, in particular, those that are in our industry;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>demand for our products;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>investor perceptions of our industry in general and our company in particular;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the operating and stock performance of comparable companies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general economic conditions and trends;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>major catastrophic events;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>announcements by us or our competitors of new products, significant acquisitions, strategic partnerships or divestitures;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in accounting standards, policies, guidance, interpretation or principles;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>loss of external funding sources;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>sales of our common stock, including sales by our directors, officers or significant shareholders; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Additions or departures of key personnel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities class action litigation is often
instituted against companies following periods of volatility in their stock price. This type of litigation could result in substantial
costs to us and divert our management&rsquo;s attention and resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Moreover, securities markets may from time
to time experience significant price and volume fluctuations for reasons unrelated to operating performance of particular companies.
These market fluctuations may adversely affect the price of our ordinary shares and other interests in our company at a time when
you want to sell your interest in us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IN THE EVENT THAT THE COMPANY&rsquo;S
SHARES ARE TRADED, THEY WILL MOST LIKELY TRADE UNDER $5.00 PER SHARE AND THUS WILL BE A PENNY STOCK. TRADING IN PENNY STOCKS HAS
MANY RESTRICTIONS AND THESE RESTRICTIONS COULD SEVERLY AFFECT THE PRICE AND LIQUIDITY OF THE COMPANY&rsquo;S SHARES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that our shares are traded,
and our stock will most likely trade below $5.00 per share, and our stock will therefore be known as a &ldquo;penny stock&rdquo;,
which is subject to various regulations involving disclosures to be given to you prior to the purchase of any penny stock. The
U.S. Securities and&nbsp;Exchange Commission (the &ldquo;SEC&rdquo;) has adopted regulations&nbsp;which generally define a &ldquo;penny
stock&rdquo; to be any equity security that has a market price of less than $5.00 per share, subject to certain exceptions. Our
common stock will probably be considered to be a &ldquo;penny stock&rdquo; and will subject to the additional regulations and risks
of such a security. A penny stock is subject to rules that impose additional sales practice requirements on broker/dealers who
sell these securities to persons other than established customers and accredited investors. For transactions covered by these rules,
the broker/dealer must make a special suitability determination for the purchase of these securities. In addition, he must receive
the purchaser&rsquo;s written consent to the transaction prior to the purchase. He must also provide certain written disclosures
to the purchaser. Consequently, the &ldquo;penny stock&rdquo; rules may restrict the ability of broker/dealers to sell our securities,
and may negatively affect the ability of holders of shares of our common stock to resell them. These disclosures require you to
acknowledge that you understand the risks associated with buying penny stocks and that you can absorb the loss of your entire investment.
Penny stocks are low priced securities that do not have a very high trading volume. Consequently, the price of the stock is often
volatile and you may not be able to buy or sell the stock when you want to.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information contained in this report,
including in the documents incorporated by reference into this report, includes some statement that are not purely historical and
that are &ldquo;forward-looking statements.&rdquo; Such forward-looking statements include, but are not limited to, statements
regarding our and their management&rsquo;s expectations, hopes, beliefs, intentions or strategies regarding the future, including
our financial condition, results of operations. In addition, any statements that refer to projections, forecasts or other characterizations
of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words &ldquo;anticipates,&rdquo;
&ldquo;believes,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;estimates,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo;
&ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;plans,&rdquo; &ldquo;possible,&rdquo; &ldquo;potential,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;projects,&rdquo; &ldquo;seeks,&rdquo; &ldquo;should,&rdquo; &ldquo;would&rdquo; and similar expressions, or the negatives
of such terms, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The forward-looking statements contained
in this report are based on current expectations and beliefs concerning future developments and the potential effects on the parties
and the transaction. There can be no assurance that future developments actually affecting us will be those anticipated. These
that may cause actual results or performance to be materially different from those&nbsp;expressed or implied by these forward-looking
statements, including the following forward-looking statements involve a number of risks, uncertainties (some of which are beyond
the parties&rsquo; control) or other assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will not receive any proceeds from the
sale of common stock by the selling security holders. All of the net proceeds from the sale of our common stock will go to the
selling security holders as described below in the sections entitled &ldquo;Selling Security Holders&rdquo; and &ldquo;Plan of
Distribution&rdquo;.&nbsp;&nbsp;We have agreed to bear the expenses relating to the registration of the common stock for the selling
security holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DETERMINATION OF OFFERING PRICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since our common stock is not listed or
quoted on any exchange or quotation system, the offering price of the shares of common stock was determined by the price of the
common stock that was sold to our security holders pursuant to an exemption under Section 4(2) of the Securities Act of 1933 and
Rule 506 of Regulation D promulgated under the Securities Act of 1933.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The offering price of the shares of our
common stock does not necessarily bear any relationship to our book value, assets, past operating results, financial condition
or any other established criteria of value. The facts considered in determining the offering price were our financial condition
and prospects, our limited operating history and the general condition of the securities market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although our common stock is not listed
on a public exchange, we intend to obtain a listing on the OTCBB concurrently with the filing of this prospectus. In order to be
quoted on the OTCBB, a market maker must file an application on our behalf in order to make a market for our common stock. There
can be no assurance that a market maker will agree to file the necessary documents with FINRA, which operates the OTC Bulletin
Board, nor can there be any assurance that such an application for quotation will be approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, there is no assurance that
our common stock will trade at market prices in excess of the initial offering price as prices for the common stock in any public
market which may develop will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The common stock to be sold by the selling
shareholders as provided in the &ldquo;Selling Security Holders&rdquo; section&nbsp;is common stock that is currently issued. Accordingly,
there will be no dilution to our existing shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SELLING SECURITY HOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except where we otherwise state, the information
we present reflects our 2-for-1 forward stock split effected on January 5, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The common shares being offered for resale
by the selling security holders consist of 2,516,500 shares of our common stock held by 40 shareholders. Such shareholders include:
(i) the holders of 516,500 shares sold in our private offering pursuant to Regulation D Rule 506 completed in 2012 at an offering
price of $0.20 per share and (ii) the holders of 2,000,000 shares transferred in exchange for services rendered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the names
of the selling security holders, the number of shares of common stock beneficially owned by each of the selling stockholders as
of&nbsp; January 7, 2013 and the number of shares of common stock being offered by the selling stockholders. The shares being offered
hereby are being registered to permit public secondary trading, and the selling stockholders may offer all or part of the shares
for resale from time to time. However, the selling stockholders are under no obligation to sell all or any portion of such shares
nor are the selling stockholders obligated to sell any shares immediately upon effectiveness of this prospectus. All information
with respect to share ownership has been furnished by the selling stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Name&nbsp;of&nbsp;Selling<BR> Stockholder</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Shares<BR> Beneficially<BR> Owned&nbsp;prior&nbsp;to<BR> Offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Percentage<BR> Beneficially<BR> Owned&nbsp;prior&nbsp;to<BR> Offering</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Shares&nbsp;to&nbsp;Offer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Shares<BR> Beneficially<BR> Owned&nbsp;after<BR> Offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Percentage<BR> Beneficially<BR> Owned&nbsp;After<BR> Offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-align: left">Strategic Tactical Asset Trading LLC</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">200,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">200,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Delaney Equity Group, LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">ChunJing Liu</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Dorothy &amp; John Messina</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Yolo Watersports (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Jim Shephard</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Monica Thompson</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Juan Yang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Cardinal Advisors, LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.66</TD><TD NOWRAP STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Nicolaos Papantonatos Jennifer Papantonatos</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Larry Buffington</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fantasea Scooter (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Melissa Sternberg</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Peter &amp; Denise Papatanatos</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Peter Papatanatos</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Edith Guggenheim</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Antony Livoti</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Esperanza Trespalacios</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Paul Livoti</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Susan Doyle</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Marcie Schoenheit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Elizabeth Devine</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">JRY3 Enterprises Inc. (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Robert Parris</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Dennis Papatanatos</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Christopher Conlon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Joseph Kevin Conlon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">425,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">425,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tito Cruz</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Robert Bidlack</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tom Welby</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">George Delisle</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ellen Schnell</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Christopher Weekes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Raquel Roth</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Craig Fischer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Alejandra Diaz</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Shawn McNamara</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Alasdair Robert Clements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Kozma Gjikuria</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Petrag Gjikuria</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,516,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,516,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Less than 1%&mdash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;-</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 23.4pt">(1)</TD><TD>Marcel Ventura is the principal of Yolo Watersports and has investment control of the shares of our common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 23.4pt">(2)</TD><TD>Steve Fontana is the principal of Fantasea Scooter and has investment control of the shares of our common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 23.4pt">(3)</TD><TD>John R. Yeager, III is the principal of JRY 3 Enterprises Inc. and has investment control of the shares of our common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 23.4pt">(4)</TD><TD>This amount includes 600,000 shares that have not yet vested.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no agreements between the Company
and any selling shareholder pursuant to which the shares subject to this registration statement were issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To our knowledge, none of the selling shareholders
or their beneficial owners:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&ndash;</TD><TD>has ever been one of our officers or directors or an officer or director of our predecessors or affiliates; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&ndash;</TD><TD>are broker-dealers or affiliated with broker-dealers.&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The selling security holders may sell some
or all of their shares at a fixed price of $0.20 per share until our shares are quoted on the OTCBB and thereafter at prevailing
market prices or privately negotiated prices. Prior to being quoted on the OTC Bulletin Board, shareholders may sell their shares
in private&nbsp;transactions to other individuals. Although our common stock is not listed on a public exchange, we will be filing
to obtain a listing on the OTCBB concurrently with the filing of this prospectus. In order to be quoted on the OTC Bulletin Board,
a market maker must file an application on our behalf in order to make a market for our common stock. There can be no assurance
that a market maker will agree to file the necessary documents with FINRA, which operates the OTC Bulletin Board, nor can there
be any assurance that such an application for quotation will be approved. However, sales by selling security holder must be made
at the fixed price of $0.20 until a market develops for the stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Once a market has developed for our common
stock, the shares may be sold or distributed from time to time by the selling stockholders, who may be deemed to be underwriters,
directly to one or more purchasers or through brokers or dealers who act solely as agents, at market prices prevailing at the time
of sale, at prices related to such prevailing market prices, at negotiated prices or at fixed prices, which may be changed. The
distribution of the shares may be effected in one or more of the following methods:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&#9679;</TD><TD STYLE="text-align: justify">ordinary brokers transactions, which may include long or short sales,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&#9679;</TD><TD STYLE="text-align: justify">transactions involving cross or block trades on any securities or market where our common stock
is trading, market where our common stock is trading,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&#9679;</TD><TD STYLE="text-align: justify">through direct sales to purchasers or sales effected through agents,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&#9679;</TD><TD STYLE="text-align: justify">through transactions in options, swaps or other derivatives (whether exchange listed of otherwise),
or exchange listed or otherwise), or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.4pt">&#9679;</TD><TD STYLE="text-align: justify">any combination of the foregoing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the selling stockholders may
enter into hedging transactions with broker-dealers who may engage in short sales, if short sales were permitted, of shares in
the course of hedging the positions they assume with the selling stockholders. The selling stockholders may also enter into option
or other transactions with broker-dealers that require the delivery by such broker-dealers of the shares, which shares may be resold
thereafter pursuant to this prospectus. To our best knowledge, none of the selling security holders are broker-dealers or affiliates
of broker dealers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will advise the selling security holders
that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the market and to the activities
of the selling security holders and their affiliates. In addition, we will make copies of this prospectus (as it may be supplemented
or amended from time to time) available to the selling security holders for the purpose of satisfying the prospectus delivery requirements
of the Securities Act. The selling security holders may indemnify any broker-dealer that participates in transactions involving
the sale of the shares against certain liabilities, including liabilities arising under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brokers, dealers, or agents participating
in the distribution of the shares may receive compensation in the form of discounts, concessions or commissions from the selling
stockholders and/or the purchasers of shares for whom such broker-dealers may act as&nbsp;agent or to whom they may sell as principal,
or both (which compensation as to a particular broker-dealer may be in excess of customary commissions). Neither the selling stockholders
nor we can presently estimate the amount of such compensation. We know of no existing arrangements between the selling stockholders
and any other stockholder, broker, dealer or agent relating to the sale or distribution of the shares. We will not receive any
proceeds from the sale of the shares of the selling security holders pursuant to this prospectus.&nbsp;We have agreed to bear the
expenses of the registration of the shares, including legal and accounting fees, and such expenses are estimated to be approximately
$50,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything set forth herein,
no FINRA member will charge commissions that exceed 8% of the total proceeds of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DESCRIPTION OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Authorized Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our authorized share capital consists of
100,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per
share. As of January 7, 2013, an aggregate of 22,516,500 shares of common stock and no shares of preferred stock were issued and
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All outstanding shares of common stock
are of the same class and have equal rights and attributes. The holders of common stock are entitled to one vote per share on all
matters submitted to a vote of stockholders of the Company. All stockholders are entitled to share equally in dividends, if any,
as may be declared from time to time by the Board of Directors out of funds legally available. In the event of liquidation, the
holders of common stock are entitled to share ratably in all assets remaining after payment of all liabilities. The stockholders
do not have cumulative or preemptive rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Articles of Incorporation authorizes
the issuance of up to 10,000,000 shares of blank check preferred stock with designations, rights and preferences determined from
time to time by its Board of Directors (the &ldquo;Preferred Stock&rdquo;). Accordingly, our Board of Directors is empowered, without
stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely
affect the voting power or other rights of the holders of the common stock. In the event of issuance, the Preferred Stock could
be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company.
As of the date of this Memorandum, the Company has not issued any shares of Preferred Stock and it does not currently have any
plans to issues shares of Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no outstanding warrants to purchase
our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Options</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no outstanding options to purchase our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Currently we do not have a stock transfer agent.&nbsp; However,
upon filing this Registration Statement, we do intend to engage a transfer agent to issue physical certificates to our shareholders.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INTEREST OF NAMED EXPERTS AND COUNSEL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No expert or counsel named in this prospectus
as having prepared or certified any part of this prospectus or having given an opinion upon the validity of the securities being
registered or upon other legal matters in connection with the registration or offering of the common stock was employed on a contingency
basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the registrant
or any of its parents or subsidiaries. Nor was any such person connected with the registrant or any of its parents or subsidiaries
as a promoter, managing or principal underwriter, voting trustee, director, officer, or employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Anslow &amp; Jaclin, LLP located at 195
Route 9 South, Suite 204, Manalapan, NJ 07726&nbsp;will pass on the validity of the common stock being offered pursuant to this
registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements as of December
31, 2011 included in this prospectus and the registration statement have been audited by Lake &amp; Associates, CPA&rsquo;s 20283
State Road #7 Suite 300, Boca Raton, FL 33498, an independent registered public accounting firm, to the extent and for the periods
set forth in their report appearing elsewhere herein and in the registration statement, and are included in reliance upon such
report given upon the authority of said firm as experts in auditing and accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DESCRIPTION OF BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Overview</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motor Group Inc., a Nevada
corporation (&ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;, or the &ldquo;Company&rdquo;), was formed on May 31,
2012. Through our wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated on August 11,
2004 (&ldquo;Panther Motors&rdquo; or &ldquo;Panther&rdquo;), we manufacture and provide service to economical and unique
personal transport vehicles. Our current product is a personal transport vehicle known by the trademarked name ScootCoupe. It
is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed throughout the United States via fleet
sales to commercial users and direct sales to retail consumers. We also provide part and technical services to our customer
base as part of our core business. We derive 80 percent of our revenue from our 40 fleet customers in the form of vehicle and
part sales, and the remaining 20 percent of revenue is derived from direct sales and parts to retail customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2012, we entered into a Share
Exchange Agreement (the &ldquo;Share Exchange Agreement&rdquo;) with Panther Motors, and all of the shareholders of Panther Motors
(the &ldquo;Panther Motors Shareholders&rdquo;), pursuant to which, we acquired 100% of the issued and outstanding securities of
Panther Motors and, in exchange, the Panther Motors Shareholders received 10,000,000 shares of our common stock representing approximately
100% of the issued and outstanding securities of the Company on a fully diluted basis as of the closing date of the Share Exchange
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 5, 2013, the Company effected
a 2 for 1 forward stock split of our common stock. As a result, the Company&rsquo;s common stock has a price per share of $0.20
and the amount of outstanding common stock increased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Products and Markets</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motors currently manufactures and
services the ScootCoupe, which is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed throughout the
United States via fleet sales to commercial users and direct sales to retail consumers. We do not have any agreements in place
with these commercial users. Panther Motors also provides part and technical services to its customer base as part of its core
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motors designed and constructed
the ScootCoupe to be conducive as a resort destination rental vehicle. As a result of its heavy duty, commercial grade construction,
it has become a very popular and durable vehicle within the rental industry, particularly at popular resorts and vacation destinations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We derive eighty percent (80%) of our revenue
from our forty (40) fleet customers in form of vehicle and part sales, with the remaining twenty percent (20%) of revenue being
derived from direct sales and parts to retail users. The P150 model (with a 150 cc engine) is the more popular model in the retail
sector given its extra power and speed capability. Retail sales have grown in each of the last two (2) years as the product has
gained more exposure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>P150Model</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The P150 is equipped with a 150cc engine,
has a top speed of approximately 55 miles per hour and has a retail value of $6987. It is the most popular ScootCoupe model with
retail end users and with rental fleets in jurisdictions where it is allowed to be operated with a regular driver&rsquo;s license.
It is, and is expected to remain, powered by our homegrown Panther drivetrain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>P125 Model</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Popular with Rental Fleets in jurisdictions
where it is permissible to operate with a regular driver&rsquo;s license. The P125 has a 125cc engine, top speed of 45mph and retail
value of $6795. As we expand to Europe, we expect this model to be our most popular model in EU nations going forward. It is, and
is expected to remain, powered by our homegrown Panther drivetrain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>49cc Model/P50 Model</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beginning in model year 2013, our 49cc
Model will be renamed the P50 model. Our 49cc/P50 model is very popular with rental companies located in jurisdictions which allow
it to be driven with a regular driver&rsquo;s license. The P50 ScootCoupe cannot be sold in California but may be driven in all
other jurisdictions within the United States. It is our most popular model with rental fleets in those locations where the P150
or P125 cannot be driven without a motorcycle endorsement. The 2013 P50 will be powered by the Piaggio (Vespa) 4T-4V 49cc engine
and electronics package. This model has undergone a major redesign in 2012 to ensure its compliance with global standards for mopeds.
We expect it to be a major seller in both domestic and foreign resort markets going forward. The 2013 P50 is anticipated to be
released in October 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Construction</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our core product, the ScootCoupe Motorcycle,
is designed and assembled in the USA. Panther Motors owns all molds and jigs associated with their construction from raw materials.
We employ a subcontractor to manufacture frame and body assemblies and then ship them to our Tamarac facility for final assembly
and manufacturing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Engines used in our products are produced
by OEM contractors to specifications set forth by Panther Motors. Our 125cc and 150cc engines are manufactured by a leading engine
manufacturer located in mainland China. Another leading engine manufacturer located in Italy manufacturers the engines used in
our 49cc model. Lighting and brake components are purchased through leading global manufacturing specialists servicing the motorcycle
industry. These engines are imported to our Tamarac facility where they are installed into our final products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The completed ScootCoupe is manufactured
in our Tamarac facility, where a unique 17 digit Vehicle Identification Number is assigned to each completed vehicle. The final
products are compliant with all EPA ( Environmental Protection Agency) and NHTSA ( National Highway Traffic and Safety Administration)
requirements for on road motorcycles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Sources and Availability of Raw Materials</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raw materials such as bulk steel, fiberglass,
and resin materials are purchased by our body assembly OEM and incorporated into the contract price. The contract price varies
upon the quantity and speed of delivery dictated by a particular contract. Director Jinxiang Liu negotiates contracts on an annual
basis and we enjoy an amicable relationship with our contractors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Various other OEM contracts for our essential
components are negotiated by director Jinxiang Liu on an annual or semi-annual basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our seven-year history, we have never
encountered a shortage or lack of availability for our essential raw materials or components.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Distribution</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All ScootCoupe products are distributed
from the Tamarac, Florida facility directly to resort rental fleets and many retail customers. Bulk fleet purchases are shipped
via national truckload providers and smaller orders are crated and shipped via national LTL (&ldquo;Less than Truckload&rdquo;)
Solution providers. In some cases individual retail orders are distributed via auto transport networks. Sales are generated via
personal visits to resort rental companies or via telephone and internet leads originating from referrals and our company website.
These leads are generated via our website and referrals from current customers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2012, Panther Motors entered into
an agreement with Trigger California (&ldquo;GoCAR&rdquo;), an affiliate of GoCAR Franchising Inc., of San Francisco, California
to produce a Special Edition ScootCoupe to be named GoCAR, which will be used exclusively in GoCAR&rsquo;s rental fleets currently
operating in San Francisco, San Diego, Miami Beach, Barcelona, Spain and Lisbon, Portugal. The GoCAR will be produced exclusively
in School Bus Yellow to differentiate it from ScootCoupe vehicles produced for other fleet customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Seasonality of Business</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The core resort customer base of Panther
Motors is well diversified regionally throughout the U.S. and we experience a predictable order flow throughout the year with spring
and summer being our most active seasons. Order flow in autumn tends to slow with the exception of Caribbean and Florida orders,
which accelerate into the Christmas holiday tourist season. Retail sales of vehicles and parts are most active in spring and summer
seasons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Research and Development</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since our inception in 2004, Panther Motors
has been extremely active in enhancing and refreshing the ScootCoupe product. We made significant design updates in 2007, 2009
and now again in 2012. Each generation of product continues to improve and exceed the expectations of our customer base.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motors began a major refresh of
the core 49cc ScootCoupe in 2011 to meet new vehicle standards for both the United States and European Union. This refresh included
designing new framing components to accommodate new engine technology. The new P50 model will incorporate a 49cc, 4 valve, 4 stroke
engine manufactured by Piaggio, a major Italian manufacturer of scooters, including Vespa. This Piaggio engine is only available
in Piaggio and ScootCoupe products. In addition, investments were made to integrate a new brake system design and state of the
art emissions equipment. The result will be a 125 mpg moped-class personal transport vehicle which emits less than 10 percent of
permissible emissions. This 2013 P50 will be available to the U.S. market by October of 2012 and will be one of the most environmentally
friendly vehicles ever introduced to the marketplace. Panther Motors achieved this benchmark with a total investment of $480,000.
Panther Motors plans to market this Green vehicle as a neighborhood vehicle to gated communities around the nation as an alternative
to golf carts which are commonly used. The major advantage of the P50 is that it can be used on roadways outside the community
whereas the golf carts may not. Priced comparably to golf cart at $6599, the P50 will allow its users the freedom of leaving the
gated community for shopping and recreational jaunts. It can also be driven with a regular driver&rsquo;s license making it usable
by virtually everyone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While preparing the P50 for the global
market, Panther Motors also incorporated the same lighting, glazing, body and seatbelt changes into the P125 and P150 models for
2013. These changes include lighting, seatbelt components, windscreen, and body materials that meet or exceed all current EU and
US DOT safety standards. The 2013 P125 and P150 were approved for sale in the U.S market in July 2012 and are currently available.
Panther Motors expects the P125 will be a core model for future European rental fleets upon final approval by the EU. Panther Motors
has invested $125,000 into the P150 refresh and the P125.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In calendar 2013, Panther Motors plans
to refresh the P150 and P125 electrical systems, engine casings and output shafts to eliminate the possibility of any aftermarket
parts being used in these vehicles. The result of this redesign is that all future components of our products will have to be purchased
directly through Panther Motors. Panther is budgeting $150,000 for this initiative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Marketing</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motors has been able to distribute
its annual production consistently without any major marketing campaigns. The ScootCoupe vehicles were first introduced in September,
2005 in the Deerfield Beach, Fort Lauderdale and Key West rental operations of Dominick Livoti, co-founder of Panther Motors. Other
rental companies placed orders to add them to their rental fleets of bicycles and scooters. At the end of 2006, fleets existed
as far west as Honolulu, Hawaii and north to Newport Rhode Island. Panther Motors exhibited its products at the Dealer Expo in
2007 and 2008 to increase awareness of the ScootCoupe line. Throughout the years, additional fleet owners have turned to the ScootCoupe
as a profitable addition to their rental companies. This word of mouth, organic growth has consumed nearly all of the annual production
capabilities of Panther Motors. Today, Panther Motors has relationships with over 40 rental fleets from coast to coast.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In an attempt to maintain public awareness
of the ScootCoupe, Panther Motors maintains a relationship with CBS where the ScootCoupe is offered as a prize on the well-known
television show &ldquo;The Price Is Right&rdquo; with Drew Carey.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Looking ahead, Panther plans to attend
a European Dealer Expo in 2013 and initiate a road tour to resort rental companies throughout Europe to jump start fleet sales
in this region. We anticipate selling all available 2013 product during this road show. In addition, Panther holds many solid inquiries
from established operators in Europe, Australia and Canada waiting for available product. Not until Panther Motors has financial
capabilities to produce in excess of 500 units per annum will it need to embark on traditional advertising venues to sell its products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Government Regulation</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a manufacturer of on road motorcycles,
we are regulated by the NHTSA (National Highway Traffic Safety Agency) and the EPA. U.S. federal regulations require that we produce
our vehicles to all current Federal Safety Standards and EPA emissions guidelines. We carefully review all new regulations and
safety standards and integrate them into design changes, and the Company interacts with test labs and industry consultants to ensure
and certify compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We certify each model year vehicle through
an application of test data to the EPA on an annual basis. Proposed changes to the EPA standards are published up to a year in
advance so there is always ample time to adjust our products to ensure compliance. In addition, we retain a specialty law firm
to keep us advised of any running changes in EPA guidelines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NHTSA governs the compliance of Federal
Safety Standards for Motorcycles and Panther Motors takes every possible measure to ensure compliance. Our long-standing relationship
with one of the nation&rsquo;s most respected test labs ensures that our vehicles and their core components exceed all federal
safety standards in effect at the time of manufacture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As we anticipate expanding our product
line globally, we will encounter regulatory compliance and confirmatory testing requirements for other countries and regions. U.S.
regulations are generally much more stringent than other nations with respect to safety, emission, and various other standards.
Accordingly, many nations accept the U.S. Standards with a simple confirmatory inspection. However, the European Union requires
extensive retesting of vehicles to their unique test procedures. Despite a variance in the procedure of the tests, we are confident
the results will be the same and the ScootCoupe will be certified in due course, allowing us to sell our products in 22 EU nations.
We have submitted samples to approved labs for preliminary testing and guidance and been advised of our compliance with existing
ADR&rsquo;s. We believe these core products will be available globally by summer of 2013, however we cannot make any assurance
that we will be successful in accessing the global markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Competition</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Globally, one other manufacturer produces
a similar type three wheel side-by-side personal vehicle. Fox Industries of the Netherlands produces a small number of these vehicles
known as the Trigger Scootercar. Their largest global customer, Trigger California, has entered into a five-year agreement to purchase
Panther ScootCoupes for use in all their franchise operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At this time, Panther Motors knows of no
other manufacturer constructing or planning to construct a similar vehicle which will compete in our core market sector of travel
and tourism.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Intellectual Property</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The U.S. federal trademark &ldquo;ScootCoupe&rdquo;
is owned by Panther Motors and we have developed proprietary components and molds unique to the ScootCoupe vehicle. We own and
hold these unique molds and components, which include, but are not limited to engine mounting framework and suspension, front end
hubs and assemblies, body molds, rim molds, throttle cables, brake systems, LED lighting, glazing, roll bars, suspension parts,
steering shafts, engine casings, output shafts and electrical wiring harness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not operate any franchised locations
but do intend to license the rental use of our products as part of our forward-looking business strategy. Selected operators will
be charged an annual fee for the use of our marks in the course of their rental business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Environmental Issues</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At time of this writing, we have no environmental
issues relating to our products in the United States. We are not aware of any environmental issues in any other nation or territory
and have not received any notices of inquiry from any environmental agency domestic or abroad.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Employees</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We currently have two employees, Dominick
Livoti Jr and Jinxiang Liu. Other essential services such as assembly, shipping, bookkeeping, accounting, industry consulting and
product testing are conducted by outsourced domestic private contractors and professionals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DESCRIPTION OF PROPERTY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our principal executive office is located at 10358 West McNab
Road, Tamarac, Florida, 33321, and our telephone number is 954-682-3693.&nbsp;&nbsp;Pursuant to an oral agreement, we lease our
office space on a month-to-month basis from our Vice President, Jinxiang Liu for $3,700 per month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEGAL PROCEEDINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, we may become involved
in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent
uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently
not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial
condition or operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MARKET FOR COMMON EQUITY AND RELATED
STOCKHOLDER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is presently no public market for
our shares of common stock. We anticipate applying for quoting of our common stock on the OTCBB upon the effectiveness of the registration
statement of which this prospectus forms apart. However, we can provide no assurance that our shares of common stock will be quoted
on the OTCBB or, if quoted, that a public market will materialize.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Holders of Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this registration statement,
we had 42 holders of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Rule 144 Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this registration statement,
we do not have any shares of our common stock that are currently available for sale to the public in accordance with the volume
and trading limitations of Rule 144.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stock Option Grants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We currently have not issued any stock
options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>As of September 30, 2012 and
December 31, 2011</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">September<BR> 30,</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">December<BR> 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: center">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,297</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">177,897</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Receivable (Net of Allowance for Doubtful Accounts of $603 and $5,048, Respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,699</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">536,237</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">464,078</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deposits with Suppliers</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">88,092</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Current Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">666,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">723,674</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and Equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">320,387</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">362,671</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">986,464</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,086,345</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: center">LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Payable and Accrued Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">30,376</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">114,368</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer Deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,792</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Note Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Line of Credit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">136,996</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Current Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">260,372</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">384,160</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Related Party Loan Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">390,853</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,853</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Related Party Loan Payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">666,225</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">600,013</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center">STOCKHOLDERS' EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Common stock (Par value $0.001,&nbsp; 100,000,000 shares authorized, 10,012,500 issued and outstanding
as of September 30, 2012; 100,000,000 shares authorized, 10,000,000 issued and outstanding as of December 31, 2011.)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Additional Paid-in Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">517,987</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508,010</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accumulated Deficit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(207,761</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,678</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Stockholders' Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">320,239</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">486,332</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">986,464</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,086,345</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP INC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">For the <BR>
three</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">For the<BR>
 three</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">For the<BR>
 nine</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">For the<BR>
 nine</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">months<BR>
 ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">months<BR>
 ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">months<BR>
 ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">months<BR>
 ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Sep 30,<BR>
 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Sep 30,<BR>
 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Sep 30,<BR>
 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Sep 30,<BR>
 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; font-weight: bold">Sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">101,394</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">148,876</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">512,209</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">601,642</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of Goods Sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">45,706</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">93,450</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">284,714</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">386,679</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,688</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,426</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">227,495</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214,963</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">General and Administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,895</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,020</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">207,266</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">165,536</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation and Amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,095</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">42,284</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Operating Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">61,990</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">58,020</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">249,550</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">195,536</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Operating Income (Loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,302</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,594</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(22,055</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,427</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Other Income and Expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,142</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,142</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,755</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,383</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Other Income and Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,142</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,142</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,755</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,383</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net Income (Loss)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(12,444</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(4,736</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(35,810</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,044</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">Weighted average common shares outstanding:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,003,804</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,001,277</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">Earnings Per Share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>PANTHER MOTOR GROUP INC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>CONSOLIDATED STATEMENTS OF
CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>Nine Months Ended September
30,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center">2012</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: black 1pt solid; text-align: center">2011</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">CASH FLOWS FROM OPERATING ACTIVITIES</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%">Net Income (Loss)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">$</TD>
    <TD STYLE="width: 10%; text-align: right">(35,810</TD>
    <TD STYLE="width: 1%">)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">$</TD>
    <TD STYLE="width: 10%; text-align: right">13,044</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Adjustments to reconcile net loss to cash used in operating activities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Depreciation and amortization</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">42,284</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">30,000</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Recovery of bad debt</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(4,445</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Issuance of founders' stock</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Changes in Assets and Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Accounts Receivable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">74,693</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">25,224</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Inventory</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(72,158</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(12,527</TD>
    <TD>)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Deposits with suppliers</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(88,092</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Accounts Payable and accrued expenses</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(83,992</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(935</TD>
    <TD>)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Customer Deposits</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">(36,792</TD>
    <TD STYLE="padding-bottom: 1pt">)</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Net cash provided by operating activities</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">(199,312</TD>
    <TD STYLE="padding-bottom: 1pt">)</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">54,806</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">CASH FLOWS FROM INVESTING ACTIVITIES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Purchase of assets</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">(28,895</TD>
    <TD STYLE="padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Net cash used for investing activities</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">(28,895</TD>
    <TD STYLE="padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">CASH FLOWS FROM FINANCING ACTIVITIES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Proceeds from related party loans</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">190,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Proceeds from stock issuance</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Repayment of bank line of credit</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(13,004</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Distributions to shareholders</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(140,284</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(10,000</TD>
    <TD>)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Loan proceeds</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">10,000</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Net cash provided by (used for) financing activities</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">51,712</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">(10,000</TD>
    <TD STYLE="padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>NET CHANGE IN CASH</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(147,600</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">15,911</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>CASH AT BEGINNING OF PERIOD</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">177,897</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">20,124</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">CASH AT END OF PERIOD</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-weight: bold">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-weight: bold; text-align: right">30,297</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-weight: bold">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-weight: bold; text-align: right">36,035</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Supplemental Disclosure:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Interest Paid</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">10,005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Stock issued for services</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP INC AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED CONDENSED FINANCIAL
STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SEPTEMBER 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 1 &ndash; CONDENSED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying interim financial statements have been prepared
by management without audit. &nbsp;In the opinion of management, all adjustments (which include only normal recurring adjustments)
necessary to present fairly the financial position, results of operations, and cash flows as of and for the period ended September
30, 2012, and for all periods presented herein, have been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain information and footnote disclosures normally included
in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have
been condensed or omitted. &nbsp;It is suggested that these condensed financial statements be read in conjunction with the financial
statements and notes thereto included in the Panther Motors, Inc.&rsquo;s. December 31, 2011 audited financial statements. &nbsp;The
results of operations for the periods ended September 30, 2012 and September 30, 2011 are not necessarily indicative of the operating
results for the full years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Share Exchange</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 1, 2012, Panther Motor Group, Inc. (legal acquiror,
and accounting acquiree) acquired all outstanding stock of Panther Motors Inc. (legal acquiree and accounting acquiror). 100,000
shares of Panther Motors Group, Inc. were exchanged for each of 100 shares of Panther Motors Inc. As a result the shares outstanding
increased from 100 to 10,000,000 for the combined entity as of the date of the share exchange. (See Note 2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 2 &ndash; SIGNIFICANT ACCOUNTING POLICIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accounting policies applied in these condensed interim financial
statements are the same as those applied by the Panther Motors Inc. in its audited consolidated financial statements as at and
for the year ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Share Exchange Accounting</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have accounted for this transaction as a reverse merger and
the financial statements reported herein have been adjusted to reflect the combined results of operations and cash flows as if
the share exchange had taken place at the beginning of the period being reported on.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 3 &ndash;  NOTES PAYABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has evaluated events and transactions subsequent
to the audited financial statements dated December 30, 2012. The following events occurred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Related Party Notes Payable</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 31, 2012 and February 15, 2012, shareholder and officer,
Dominick Livoti lent Panther Motors, Inc. $80,000 and $25,000 respectively. The loans were documented with Promissory Notes
that mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the note holder.
The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 9, 2012 and February 24, 2012, shareholder and officer,
Jinxiang Liu lent Panther Motors, Inc. $60,367 and $25,000 respectively. The loans were documented with promissory notes that
mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the note holder.
The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP INC AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED CONDENSED FINANCIAL
STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SEPTEMBER 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Note Payable</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 24, 2012 the Panther Motors, Inc. received an additional
$10,000 loan from Kevin Conlon, who had previously loaned Panther Motors Inc. $75,000 under a promissory note secured by inventory
of the Company. The $10,000 tranche was received without a promissory note and there are no written repayment terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 4 &ndash; CHANGE IN CORPORATE TAX STATUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In anticipation of an S1 filing to become a public company,
the Company is seeking to change its tax status from an S-Corp to a C-Corp. The Company did not yet make the election but plans
to do so previous to March 15, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 5 &ndash; PRIVATE PLACEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the third quarter of 2012, Panther Motor
Group, Inc. executed a private offering of 2,500,000 shares at $0.40 per share. One investor invested $5,000 through this offering
for the three months ended September 30, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 6 &ndash; <FONT STYLE="font-family: Times New Roman, Times, Serif">SUBSEQUENT
EVENTS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 15, 2012, the Company issued a promissory note in
the principal amount of $25,000 to Fun Rentals Inc. The notes mature on 12/31/2012 and are automatically renewable unless given
30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the Company and call for 0.25%
interest on the outstanding loan amount to be paid monthly. Our CEO, Dominick Livoti, Jr., has voting control over Fun Rentals
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP INC AND SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As of December 31, 2011 and 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">December<BR> 31,</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">December<BR> 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: center">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">177,897</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">20,124</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Receivable (Net of Allowance for Doubtful Accounts of $5,048 and $4,665, Respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,699</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,630</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Inventory</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">464,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">436,136</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Current Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">723,674</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">544,890</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Property and Equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">362,671</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">393,118</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,086,345</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">938,008</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: center">LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Payable and Accrued Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">114,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">60,683</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer Deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,792</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Note Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Line of Credit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Current Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">384,160</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">210,683</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Related Party Loan Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,853</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,853</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Related Party Loan Payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">600,013</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">426,536</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center">STOCKHOLDERS' EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Common stock (Par value $0.001,&nbsp; 100,000,000 shares authorized, 10,000,000 issued and outstanding
as of as of December 31, 2011 and December 31, 2010.)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additional Paid-in Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508,010</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accumulated Deficit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,678</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,538</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Stockholders' Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">486,332</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">511,472</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,086,345</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">938,008</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>PANTHER MOTOR GROUP INC AND
SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>Years Ended December 31, 2011
and 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; font-weight: bold">Sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">764,224</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">758,998</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of Goods Sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">499,012</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">537,241</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">265,212</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">221,757</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">General and Administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">217,115</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">168,799</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Depreciation and Amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">54,733</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">53,087</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Operating Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">271,848</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">221,887</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Operating Income (Loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,636</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(130</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Other Income and Expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,504</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,954</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Other Income and Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,504</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,954</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net Income (Loss)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(15,140</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(9,084</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Weighted average common shares outstanding : 100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP INC AND SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENTS OF CHANGES IN STOCKHOLDERS&rsquo;
EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Years Ended December 31, 2011 and 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1pt">Additional<BR>
Paid-In</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1pt">Accumulated</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1pt">Total<BR>
Stockholders</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%">Balance at December 31, 2009</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">518,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">49,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">567,621</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">To eliminate all common stock of</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Panther Motors Inc. prior to reverse</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>merger on June 1, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(100</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">To record issuance of founders' shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">To record issuance of stock in connection to reverse merger</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,990</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Distribution to Shareholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(47,065</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(47,065</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net Loss</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,084</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,084</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">508,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(6,538</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">511,472</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Balance at December 31, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Distribution to Shareholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net Income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(15,140</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(15,140</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">508,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(31,678</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">486,332</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance at December 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>PANTHER MOTOR GROUP INC. AND
SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"><B>Years Ended December 31, 2011
and 2010</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">CASH FLOWS FROM OPERATING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left">Net Income (Loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(15,140</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(9,084</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Adjustments to reconcile net loss to cash used in operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Depreciation and Amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,733</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,087</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Provision for Bad Debts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">383</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,665</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Noncash Distribution to Shareholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(47,065</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Changes in Assets and Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,549</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(73,722</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(27,943</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">151,743</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,685</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(161,015</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Customer Deposits</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,792</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">117,059</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(81,391</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">CASH FLOWS FROM INVESTING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Purchase of Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,286</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(772</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash used for investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,286</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(772</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">CASH FLOWS FROM FINANCING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Proceeds From Related Party Loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Repayment of Other Related Party Loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Distribution to Shareholder</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loan Proceeds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by (used for) financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">65,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">59,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">NET CHANGE IN CASH</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,773</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,788</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>CASH AT BEGINNING OF PERIOD</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,124</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,286</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">CASH AT END OF PERIOD</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">177,897</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,124</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Supplemental Disclosure:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest Paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,504</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,954</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See notes to financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.4pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="width: 9%"><B>1.</B></TD><TD STYLE="width: 91%"><B>DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
                                                                 POLICIES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nature of Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Panther Motor Group, Inc. is a Nevada C-Corp that was formed
on May 31, 2012. On June 1, 2012, Panther Motor Group, Inc. (Legal Acquiror, Accounting Acquiree) purchased Panther Motors, Inc.
(Legal Acquiree, Accounting Acquiror). Panther Motors Inc., is a Florida based designer and manufacturer of a three-wheeled, two-seat,
scooter known as <I>The ScootCoupe</I>.&nbsp; The Company has sold over 1,000 vehicles since its inception in 2004 and currently
services 43 rental fleets throughout the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The financial statements and accompanying notes are prepared
in accordance with accounting principles generally accepted in the United States of America. The above transaction was recorded
as reverse recapitalization and the financial statements presented herein, have been presented as if the merger had occurred at
the beginning of the period being reported on.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A summary of the significant accounting policies consistently
applied in the preparation of the accompanying consolidated condensed financial statements is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Management&rsquo;s Use of Estimates and Assumptions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of the consolidated financial statements in
conformity with generally accepted accounting principles in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of the assets and liabilities, disclosure of contingent assets and liabilities
at the date of the consolidated condensed financial statements, and the reported amounts of revenue and expense during the reporting
periods.&nbsp;&nbsp;&nbsp;Actual results may differ from those estimates and assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Reclassifications</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain amounts reported in previous period have been reclassified
to conform to the Company&rsquo;s current period presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Concentration of Credit Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Financial instruments and related items, which potentially
subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents.&nbsp;&nbsp;The Company places
its cash and temporary cash investments with credit quality institutions. At times, such investments may be in excess of FDIC
insurance limits. Management considers this to be an acceptable business risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cash and Cash Equivalents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the purposes of the Statement of Cash Flows, the Company
considers liquid investments with an original maturity of three months or less to be cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>Accounts Receivable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company extends credit to customers without requiring collateral.&nbsp;&nbsp;The
Company uses the allowance method to provide for doubtful accounts based on management&rsquo;s evaluations of the collectability
of accounts receivable.&nbsp;&nbsp;Management&rsquo;s evaluation is based on the Company&rsquo;s historical collection experience
and a review of past-due amounts.&nbsp;&nbsp;Based on management&rsquo;s evaluation of collectability, there is a $5,048 and $4,664
allowance for doubtful accounts as of December 31, 2011 and 2010 respectively.&nbsp;&nbsp;During the year ended December 31, 2011
and 2010, the Company wrote off $0 and $0, respectively, as uncollectible accounts receivables. The Company determines accounts
receivable to be delinquent when&nbsp;past due agreed upon terms.&nbsp;&nbsp;Accounts receivable are written off when it is determined
that amounts are uncollectible.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Inventory</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Inventory, consisting of finished goods and parts held for
resale, are stated at the lower of cost or market.&nbsp;&nbsp;Cost is determined using the specific identification method.&nbsp;&nbsp;At
December 31, 2011 and December 31, 2010, there was no allowance for obsolete inventory deemed necessary based on management&rsquo;s
estimate of the realizability of the inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Property and Equipment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Property and equipment is stated at cost.&nbsp;&nbsp;Depreciation
and amortization expense is computed using the straight-line method over the estimated useful life of the related assets ranging
from 7 to 10 years. When assets are sold or retired, their costs and accumulated depreciation are eliminated from the accounts
and any gain or loss resulting from their disposal is included in the statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company recognizes an impairment loss on property and equipment
when evidence, such as the sum of expected future cash flows (undiscounted and without interest charges), indicates that future
operations will not produce sufficient revenue to cover the related future costs, including depreciation, and when the carrying
amount of the asset cannot be realized through sale. Measurement of the impairment loss is based on the fair value of the assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Impairment of Long-Lived Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company assesses long-lived assets, such as property and
equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset group may not be fully recoverable. Recoverability of asset groups to be held and
used in measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected
to be generated by the asset group.&nbsp;&nbsp;If the carrying amount exceeds its estimated future cash flows, an impairment charge
is recognized by the amount by which the carrying amount of an asset group exceeds the fair value of the asset group. The Company
evaluated its long-lived assets and no impairment charges were recorded for any of the periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Revenue Recognition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company recognizes revenue based on Account Standards Codification
<I>(&ldquo;ASC&rdquo;) 605 &ldquo;Revenue Recognition&rdquo;</I> which contains Securities and Exchange Commission Staff Accounting
Bulletin No.&nbsp;101, &ldquo;Revenue Recognition in Financial Statements&rsquo; and No.&nbsp;104, &ldquo;Revenue Recognition&rdquo;.
In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists,
shipment has occurred, price is fixed or determinable and collectability of the resulting receivable is reasonably assured.&nbsp;&nbsp;The
Company had sales of $764,224 and $758,998 in revenue for the year&nbsp;ended December 31, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shipping and Handling Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company includes its outbound shipping and handling costs
in General and Administrative Expenses.&nbsp;&nbsp;Those costs were $62,422 and $44,650 for the year ended December 31, 2011 and
2010, respectively.&nbsp;&nbsp;Inbound shipping and handling costs are included as an allocation to inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Advertising Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Advertising costs were $0 and $6,599 for the year ended December
31, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Conversion from an S Corporation
to a C Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The Company&rsquo;s S-Corporation
election terminated in connection with the expectation of the initial public offering of the Company&rsquo;s common stock on&nbsp;January
1, 2012. From the Company&rsquo;s inception in&nbsp;2004&nbsp;to December 2011, the Company was not subject to federal and state
income taxes since it was operating as an S-Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the asset and liability method prescribed under <I>ASC
740, Income Taxes</I>, The Company will use the liability method of accounting for income taxes.&nbsp;&nbsp;The liability method
measures&nbsp;deferred income taxes by applying&nbsp;enacted&nbsp;statutory rates in effect at the balance&nbsp;sheet date to
the differences&nbsp;between the tax basis of assets and&nbsp;liabilities&nbsp;and their reported&nbsp;amounts on the&nbsp;financial
statements.&nbsp;&nbsp;The resulting deferred tax assets or liabilities will be adjusted to reflect changes in tax laws as they
occur.&nbsp;&nbsp;A valuation allowance will be provided when it is more likely than not that a deferred tax asset will not be
realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will recognize the financial statement benefit
of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination.
For tax positions meeting a &quot;more-likely-than-not&quot; threshold, the amount to be recognized in the financial statements
will be the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold,
no financial statement benefit will be recognized. As of December 31, 2011, the Company had no uncertain tax positions. The Company
recognizes interest and penalties, if any, related to uncertain tax positions as general and administrative expenses. The Company
currently has no federal or state tax examinations nor has it had any federal or state examinations since its inception. Tax years
2009, 2010 and 2011 are subject to federal and state tax examination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Liquidity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As shown in the accompanying financial statements, the Company
has incurred a net loss from operations of $15,140 for the year ended December 31, 2011 and incurred a net loss from operations
of $9,084 for the year ended December 31, 2010.&nbsp;&nbsp;As of December 31, 2011, the Company&rsquo;s current assets exceed
its current liabilities by $339,514, with cash and cash equivalents representing $177,897.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recent Authoritative Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2010, the FASB issued Accounting Standard Update No.
2010-12, &ldquo;Income Taxes&rdquo; (Topic 740). In April 2010, the FASB issued Accounting Standards Update 2010-12 (ASU 2010-12),&nbsp;&nbsp;IncomeTaxes
(Topic 740): Accounting for Certain Tax Effects of the 2010 Health Care Reform Acts. &nbsp; After consultation with the FASB,
the SEC stated that it &ldquo;would not object to a registrant incorporating the effects of the Health Care and Education Reconciliation
Act of 2010 when accounting for the Patient Protection and Affordable Care Act&rdquo;. The Company does not expect the provisions
of ASU 2010-12 to have a material effect on the financial position, results of operations or cash flows of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2010, the FASB issued Accounting Standards Update
2010-17 (ASU 2010-17), Revenue Recognition-Milestone Method (Topic 605): Milestone Method of Revenue Recognition. The amendments
in this Update are effective on a prospective basis for milestones achieved in fiscal years, and interim periods within those
years, beginning on or after June 15, 2010. Early adoption is permitted. If a vendor elects early adoption and the period of adoption
is not the beginning of the entity&rsquo;s fiscal year, the entity should apply the amendments retrospectively from the beginning
of the year of adoption. The Company does not expect the provisions of ASU 2010-17 to have a material effect on the financial
position, results of operations or cash flows of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2010, the FASB issued Accounting Standards Update
(ASU) No. 2010-18 &ldquo;Receivables (Topic 310) &ndash; Effect of a Loan Modification When the Loan is Part of a Pool that is
Accounted for as a Single Asset &ndash; a consensus of the FASB Emerging Issues Task Force.&rdquo;&nbsp;&nbsp;ASU 2010-18 provides
guidance on account for acquired loans that has evidence of credit deterioration upon acquisition. It allows acquired assets with
common risk characteristics to be accounted for in the aggregate as a pool.&nbsp;&nbsp;ASU 2010-18 is effective for modifications
of loans accounted for within pools under Subtopic 310-30 in the first interim or annual reporting period ending on or after July
15, 2010.&nbsp;&nbsp;The Company does not expect ASU 2010-18 to have an impact on its financial condition, results of operations,
or disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In May 2010, the FASB issued Accounting Standards Update 2010-19
(ASU 2010-19), Foreign Currency (Topic 830): Foreign Currency Issues: Multiple Foreign Currency Exchange Rates. The amendments
in this Update are effective as of the announcement date of March 18, 2010. The Company does not expect the provisions of ASU
2010-19 to have a material effect on the financial position, results of operations or cash flows of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2009, the Financial Accounting Standards Board (FASB)
issued authoritative literature regarding Amendments to FASB Interpretation No. 46(R), which changes various aspects of accounting
for and disclosures of interests in variable interest entities, and Accounting for Transfers of Financial Assets, which was issued
in order to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity
provides in its financial statements about a transfer of financial assets; the effects of a transfer on its financial position,
financial performance, and cash flows; and a transferor's continuing involvement, if any, in transferred financial assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In September 2009, the FASB modified the accounting for Multiple-Deliverable
Revenue Arrangements and Certain Revenue Arrangements that Include Software Elements. These modifications alter the methods previously
required for allocating consideration received in multiple-element arrangements to require revenue allocation based on a relative
selling price method, including arrangements containing software components and non-software components that function together
to deliver the product's essential functionality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2010, the FASB issued authoritative guidance regarding
Improving Disclosures about Fair Value Measurements, which requires new and amended disclosure requirements for classes of assets
and liabilities, inputs and valuation techniques and transfers between levels of fair value measurements and Accounting for Distributions
to Shareholders with Components of Stock and Cash, which clarifies the accounting for distributions to shareholders that offer
them the ability to elect to receive their entire distribution in cash or shares of equivalent value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In July 2010, the FASB amended the requirements for Disclosures
about the Credit Quality of Financing Receivables and the Allowance for Credit Losses. As a result of these amendments, an entity
is required to disaggregate by portfolio segment or class certain existing disclosures and provide certain new disclosures about
its financing receivables and related allowance for credit losses. The new disclosures as of the end of the reporting period are
effective for the fiscal year ending December 31, 2010, while the disclosures about activity that occurs during a reporting period
are effective for the first fiscal quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There were various other updates recently issued, most of which
represented technical corrections to the accounting literature or application to specific industries and are not expected to a
have a material impact on the Company's consolidated financial position, results of operations or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management does not believe that any other recently issued,
but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated&nbsp;financial
statements..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-weight: bold">2.&nbsp;</TD>
    <TD STYLE="width: 91%; font-weight: bold">ACCOUNTS RECEIVABLE</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Components of accounts receivable as of December 31, 2011 and
2010 are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Accounts receivable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">86,747</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">93,295</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Allowance for doubtful accounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,048</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,665</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">81,699</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">88,630</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">3.&nbsp;</TD>
    <TD STYLE="font-weight: bold">PROPERTY AND EQUIPMENT</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s property and equipment at December 31,
2011 and December 31, 2010 consists of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Machinery and equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">543,011</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">527,511</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Furniture and fixtures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,785</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less accumulated depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">189,125</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">134,393</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Property and Equipment, net</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">362,671</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">393,118</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Depreciation expense included as a charge to income was $54,733
and $53,087 for the year ended December 31, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">4.&nbsp;</TD>
    <TD STYLE="font-weight: bold">ACCOUNTS PAYABLE</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Accounts payable at December 31, 2011 and 2010 are as follows<B>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Accounts payable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">114,368</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">60,683</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">5.&nbsp;</TD>
    <TD STYLE="font-weight: bold">WORKING CAPITAL LINE OF CREDIT</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Suntrust Revolver</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 11, 2007, the Company, entered into a Loan Agreement (the &ldquo;Loan Agreement&rdquo;) with
Suntrust Bank.&nbsp;&nbsp;The Loan Agreement provides for a revolving line of credit to the Borrower equal to $150,000. The Company
has the right to prepay loans under the Loan Agreement in whole or in part at any time. The Company is required to make monthly
&ldquo;interest-only&rdquo; payments at the rate of 5% per annum. The Company has incurred interest expense of $7,604 and $7,604
for the year ended December 31, 2011 and 2010, respectively. As of December 31, 2011, the balance on the revolver was $150,000,
with no additional availability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">6.&nbsp;</TD>
    <TD STYLE="font-weight: bold">NOTES PAYABLE</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A summary of notes payable at December 31, 2011 and December
31, 2010 is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Note Payable &ndash; Kevin Conlon</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">75,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note Payable &ndash;&nbsp;Kevin Conlon</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 16, 2011, the Company issued a promissory note
in the principal amount of $75,000 to Kevin Conlon. The note bears interest at 12% per annum and matures on December 16, 2012.&nbsp;&nbsp;The
note required consecutive &ldquo;interest only&rdquo; monthly payments of $750 with a balloon payment due on December 16, 2012.&nbsp;&nbsp;&nbsp;&nbsp;The
note was collateralized by the finished goods inventory of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">7.&nbsp;</TD>
    <TD STYLE="font-weight: bold">NOTES PAYABLE - RELATED PARTIES</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note Payable &ndash;Dominick Livoti, Jr.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">From the period August 3, 2004 through December 11, 2010, company
co-founder, Dominick Livoti, Jr. periodically loaned the Company money culminating in a balance of $200,853 as of December 31,
2010. The note has no specific repayment terms and the Company may repay this note at any time, in whole or in part, without penalty
or additional interest.&nbsp;The balance as of December 31, 2011 and December 31, 2010 was $200,853 and $200,853 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note Payable &ndash;Dominick Livoti, Sr.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 10, 2008, Dominick Livoti, Sr. the father of company
co-founder, Dominick Livoti, Jr., loaned the Company $25,000. The note requires monthly &ldquo;interest only&rdquo; payments of
0.5% of the principal balance. The Company may repay this note at any time, in whole or in part, without penalty or additional
interest. On September 30, 2010 the Company repaid $10,000 of the original note.&nbsp;The balance as of December 31, 2011 and
December 31, 2010 was $15,000 and $15,000 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">8.&nbsp;</TD>
    <TD STYLE="font-weight: bold">CAPITAL STOCK</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has authorized 1,000 shares of common stock, with
a par value of $0.01 per share. As of December 31, 2011 and December 31, 2010, the Company has 1,000 and 1,000, respectively,
of shares of common stock issued and outstanding. All of the common stock is owned by the two co-founders, Dominick Livoti, Jr.
and Jinxiang Liu.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">9.&nbsp;</TD>
    <TD STYLE="font-weight: bold">INCOME TAXES</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company adopted ASC 740, Subtopic 10 (formerly, FASB No.
109, Accounting for Income Taxes) which requires the recognition of deferred tax liabilities and assets for the expected future
tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax
liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities
using enacted tax rates in effect for the year in which the differences are expected to reverse. As of December 31, 2011 the tax
base of the assets and liabilities was $189,584 less than the GAAP basis. Since the Company was an S-Corporation through the end
of December 31, 2011, no deferred tax asset or liability has been recorded for this difference in basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">10.&nbsp;</TD>
    <TD STYLE="font-weight: bold">RELATED PARTY TRANSACTIONS</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has an outstanding receivable from Skate Shack Inc.
(dba Fun Rentals), a wholly owned company of company co-founder&rsquo;s spouse. The balance receivable was $5,706 and $0 as of
December 31, 2011 and December 31, 2010. Sales to Fun Rentals were $74,457 and $25,872 for 2011 and 2010, respectively. Additionally,
on December 31, 2010, the Company forgave a receivable from Fun Rental in the amount of $47,065 in which was treated as a non-cash
shareholder distribution from the Company to Mr. Livoti.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company leases its warehouse and office space, on a month-to-month
basis, from a company owned by co-founder, Jinxiang Liu.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">11.&nbsp;</TD>
    <TD STYLE="font-weight: bold">BUSINESS CONCENTRATION</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Revenue from two (2) major customers accounted for $138,097
and from one (1) major customer&nbsp;accounted for $194,993&nbsp;for the year ended&nbsp;December, 2011 and 2010, respectively.&nbsp;
These amounts represent 18% (12% and 6%, respectively)&nbsp;and 25% of the Company&rsquo;s revenue for the year ended December
31, 2011 and 2010, respectively. As of December 31, 2011 and 2010, these customers accounted for 0% and 0% of accounts receivable,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PANTHER MOTOR GROUP, INC. AND SUBSIDIARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR YEARS ENDED DECEMBER 31, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Purchases from one (1) major supplier approximated $479,101and
$284,985 for the year ended December 31, 2011 and 2010, respectively. These amounts represent 94%&nbsp;and 74% of the Company&rsquo;s
purchases for the year ended December 31, 2011 and 2011, respectively. As of December 31, 2011 and 2010, this supplier accounted
for 33% and 50% of accounts payable, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">12.&nbsp;</TD>
    <TD STYLE="font-weight: bold">COMMITMENTS</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt"><U>Warehouse Lease Obligations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has a month-to-month lease agreement with a related
party for its warehouse and corporate offices located in Fort Lauderdale, FL.&nbsp;&nbsp; There is no lease term expiration and
no minimum future lease payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rent expense for the year ended December, 2011 and 2010 totaled
$43,946 and $49,397 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; font-weight: bold">13.&nbsp;</TD>
    <TD STYLE="font-weight: bold">SUBSEQUENT EVENTS</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company evaluated for subsequent events through the issuance
date of the Company&rsquo;s financial statements and the following items were noted:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Note Payable Related Party</U> - On January 30, 2012, Company
co-founder, Dominick Livoti Jr., signed a promissory note for a loan made to the Company in the amount of $80,000. The note is
non-interest bearing and is due December 31, 2012 and will automatically renew on the 31<SUP>st</SUP> day of December each year
unless payee notifies borrow in writing 30 days in advance of maturity date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Note Payable Related Party</U> - On February 15, 2012, 2012,
Company co-founder, Dominick Livoti Jr., signed a promissory note for a loan made to the Company in the amount of $25,000. The
note is non-interest bearing and is due December 31, 2012 and will automatically renew on the 31<SUP>st</SUP> day of December
each year unless payee notifies borrow in writing 30 days in advance of maturity date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Note Payable Related Party -</U> On February 9, 2012 and
February 24, 2012, shareholder and officer, Jinxiang Liu lent the Company $60,367 and $25,000 respectively. The loans were documented
with promissory notes that mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity
by the note holder. The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount
to be paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Note Payable-</U> On January 24, 2012 the Panther
Motors, Inc. received an additional $10,000 loan from Kevin Conlon, who had previously loaned Panther Motors Inc. $75,000
under a promissory note secured by inventory of the Company. The $10,000 tranche was received without a promissory note and
there are no written repayment terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share Exchange &ndash; On June 1, 2012, The Company issued
5,000,000 shares in exchange for all the outstanding stock in Panther Motors, Inc. As delineated in Note 1, this was recorded
as a reverse recapitalization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AND RESULT OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The following plan of operation
provides information which management believes is relevant to an assessment and understanding of our results of operations and
financial condition. The discussion should be read along with our financial statements and notes thereto. This section includes
a number of forward-looking statements that reflect our current views with respect to future events and financial performance.
Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar
expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking
statements.&nbsp;These forward-looking statements are subject to certain risks and uncertainties that could cause actual results
to differ materially from our predictions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Panther Motor Group Inc., a Nevada corporation,
was formed on May 31, 2012. Through our wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated
on August 11, 2004, we manufacture and provide service to economical and unique personal transport vehicles. Our current product
is a personal transport known by the trademarked name ScootCoupe. It is marketed in three engine displacements, 49cc, 125cc, and
150cc, and distributed throughout the United States via fleet sales to commercial users and direct sales to retail consumers.
We also provide part and technical services to our customer base as part of our core business. We derive 80 percent of our revenue
from our 40 fleet customers in the form of vehicle and part sales, and the remaining 20 percent of revenue is derived from direct
sales and parts to retail customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Plan of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the next twelve
months, the Company plans to continue production and sales of its core products within the U.S. Additionally, the Company will
continue to service existing fleet owners and expand its operations to additional fleet locations around the nation. In February
2013, we plan to introduce our new P50 ScootCoupe model into the U.S. market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Furthermore, the Company plans to obtain
approvals for the sale and use of its core products, the P50 and P150 ScootCoupe models, in the European market. The Company is
seeking to establish a presence in the European market as a provider of recreational motor powered cycles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Nine Months Ended September 30,
2012 Compared with Nine Months Ended September 30, 2011</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues in the first nine months of 2012
were $512,209 compared with $601,642 in the first nine months of 2011, reflecting a decrease of14.86%. The decrease in revenues
in the first nine months of 2012 was primarily attributable to a delay in EPA Certification of our 2013 models. Said certification
has been issued and we are shipping product again as of July 20, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cost of Revenue</I>: Cost of Revenues
in the first nine months of 2012 was $284,714, compared with $386,679 in the first nine months of 2011, reflecting decrease of
26.37%. The decrease in cost of sales in the first nine months of 2012 was primarily attributable to lower component pricing,
higher sales prices and reduced assembly expenses..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Gross Profit</I>: Gross Profit in the
first nine months of 2012 was $227,495, compared with $214,963 in the first nine months of 2011, reflecting an increase of 5.83%.
The increase in cost in gross profit in the first nine months of 2012 was primarily attributable to higher unit pricing, lower
component pricing and lower assembly expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>SG&amp;A Expenses</I>: SG&amp;A Expense
in first 9 months of 2012 was $207,266, compared with $165,536 in 2011, reflecting an increase of 25.21%. The increase in SG&amp;A
Expenses in the first nine months of 2012 was primarily attributable to laboratory testing and EPA certification expenses of the
new P50 model as well as increased accounting and legal fees associated with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Total Expenses</I>: Total expenses
in the first nine months of 2012 were $249,550, compared with $195,536 in 2011, reflecting an increase of 27.62%. The increase
in total expenses was primarily attributable to fees paid for laboratory testing and EPA certification of the new P50 model and
accounting, legal fees associated with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Gain from Operations</I>: Loss from
operations in first nine months of 2012 was $22,055, compared with a gain of $19,427 in 2011, reflecting a decrease of 213.53%.
The decrease in gains from operation is primarily attributable to fees paid for EPA certification and laboratory testing of the
new P50 model. Panther expects this model to be available for 5years before re-testing is required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Other Expenses</I>: Other expenses
in the first nine months of 2012 was $13,755, compared to $6,383 in 2011, reflecting an increase of 115.49%. This increase was
primarily attributable to interest paid on notes payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Net Gain</I>: We incurred a net loss
of $35,810 in the first nine months of 2012 compared to a net gain of $13,044 in the first nine months of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Fiscal 2011 Compared with Fiscal
2010</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Revenue</I>: Revenues in fiscal 2011
were $764,224, compared with $758,998 in fiscal 2010, reflecting an increase of .69%. The increase in revenues in fiscal 2011
was primarily attributable to a slight recovery in Gulf Region Sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cost of Revenue</I>: Cost of Revenues
in fiscal 2011 were $499,012, compared with $537,241 in fiscal 2010, reflecting a decrease of 7%. The decrease in cost of sales
in fiscal 2011 was primarily attributable to higher margins on replacement part sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Gross Profit</I>: Gross profit in fiscal
year 2011 was $265,212, compared to $221,757 in 2010, reflecting an increase of 19.60%. The increase was primarily attributable
to higher sales pricing and lower costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>SG&amp;A Expenses</I>: SG&amp;A Expenses
in fiscal 2011 were $217,115, compared with $168,799 in fiscal year 2010, reflecting an increase of 28.62%. This increase was
primarily attributable to accounting &amp;consulting expenses associated with the public offering, lobbying expenses and purchases
of tools and equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Total Expenses</I>: Total expenses
in fiscal 2011 were $271,848, compared with $221,887 in fiscal year 2010, reflecting an increase of 22.52%. This increase is primarily
attributable to accounting and consulting expenses associated with the public offering as well as investments in tools and equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Loss from Operations</I>: Loss from
operations in 2011 was $6,636, compared to a loss of $130 in 2010, reflecting an increase of $5,004.62. This increase was mainly
attributable to accounting and consulting expenses associated with the public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Net loss</I>: We incurred a net loss
of $15,140 or 1.98% of revenues in fiscal 2011 compared to a net loss of $9,084, or 1.20 % of revenues in fiscal 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 30, 2012, we had cash
and cash equivalents of approximately ($30,297). We have historically financed our operations primarily through net cash flow
from operations and shareholder investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net Cash provided by operating activities
was a loss of $199,312 in the first nine months of 2012, as compared with a gain of $54,806 for the same period in 2011, reflecting
a decrease of 463%. This decrease was primarily due to a deposit paid to the Company&rsquo;s major suppliers for scooter cars
and advance payments for engine purchases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash flow from investing activities
was $0 in the first nine months of 2012, as compared to a loss of $28,895 for the same period in 2011, reflecting an decrease
of 100%. This decrease was primarily due to Net cash flow from investing activities in 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash flow from financing activities
was $51,712 for the first nine months of 2012, as compared to $(10,000) for the same period of 2011, reflecting an increase of
617%. This increase was due to a loan proceed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Related Party Notes Payable</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note Payable &ndash;Dominick Livoti,
Jr.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From the period August 3, 2004 through
December 11, 2010, company co-founder, Dominick Livoti, Jr. periodically loaned the Company money culminating in a balance of $200,853
as of December 31, 2010. The note has no specific repayment terms and the Company may repay this note at any time, in whole or
in part, without penalty or additional interest.&nbsp;The balance as of December 31, 2011 and December 31, 2010 was $200,853 and
$200,853 respectively.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; text-align: justify">On January 31, 2012 and February 15, 2012, shareholder and officer, Dominick Livoti lent the Panther Motors,
Inc. $80,000 and $25,000 respectively. The loans were documented with Promissory Notes that mature on 12/31/2012 and are automatically
renewable unless given 30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the
Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note Payable &ndash;Dominick Livoti,
Sr.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 10, 2008, Dominick Livoti, Sr. the father of company co-founder, Dominick Livoti, Jr., loaned
the Company $25,000. The note requires monthly &ldquo;interest only&rdquo; payments of 0.5% of the principal balance. The Company
may repay this note at any time, in whole or in part, without penalty or additional interest. On September 30, 2010 the Company
repaid $10,000 of the original note.&nbsp;The balance as of December 31, 2011 and December 31, 2010 was $15,000 and $15,000 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note Payable &ndash; Jinxiang Liu</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 9, 2012 and February 24, 2012, shareholder and officer, Jinxiang Liu lent the Panther Motors,
Inc. $60,367 and $25,000 respectively. The loans were documented with promissory notes that mature on 12/31/2012 and are automatically
renewable unless given 30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the
Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note Payable - Fun Rentals Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 15, 2012, the Company issued a promissory note in the principal amount of $25,000 to Fun Rentals
Inc. The notes mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the
note holder. The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be
paid monthly. Our CEO, Dominick Livoti, Jr., has voting control over Fun Rentals Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note Payable</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 16, 2011, the Company issued
a promissory note in the principal amount of $75,000 to Kevin Conlon. The note bears interest at 12% per annum and matures on
December 16, 2012.&nbsp;&nbsp;The note required consecutive &ldquo;interest only&rdquo; monthly payments of $750 with a balloon
payment due on December 16, 2012.&nbsp;&nbsp;&nbsp;&nbsp;The note was collateralized by the finished goods inventory of the Company.
<FONT STYLE="color: black">On January 24, 2012 the Company received an additional $10,000 loan from Kevin Conlon. The $10,000
tranche was received without a promissory note and there are no written repayment terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Suntrust Revolver</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 11, 2007, the Company, entered
into a Loan Agreement (the &ldquo;Loan Agreement&rdquo;) with Suntrust Bank. The Loan Agreement provides for a revolving line of
credit to the Borrower equal to $150,000. The Company has the right to prepay loans under the Loan Agreement in whole or in part
at any time. The Company is required to make monthly &ldquo;interest-only&rdquo; payments at the rate of 5% per annum. The Company
has incurred interest expense of $7,604 and $7,604 for the year ended December 31, 2011 and 2010, respectively. As of December
31, 2011, the balance on the revolver was $150,000, with no additional availability. On March, 9, 2012, the revolver balance of
$150,000 was converted into a 5 year term loan with an interest rate of 6% per annum.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Off-Balance Sheet Arrangements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have no off-balance sheet arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Critical Accounting Policies and Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Basis of Presentation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements
in conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported
amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further
acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal
accounting control and preventing and detecting fraud. The Company&rsquo;s system of internal accounting control is designed to
assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions
are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results
of operations and cash flows of the company for the respective periods being presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Use of Estimates</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements
in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;A change in managements&rsquo;
estimates or assumptions could have a material impact on the Company&rsquo;s financial condition and results of operations during
the period in which such changes occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Actual results could differ from those
estimates. The Company&rsquo;s financial statements reflect all adjustments that management believes are necessary for the fair
presentation of their financial condition and results of operations for the periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cash and Cash Equivalents</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the statement of cash
flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Accounts Receivable</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable, if any, is carried
at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management's assessment
of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of
a major customer's creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability
of the amounts due to us could be overstated, which could have a negative impact on operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Revenue Recognition</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Service revenue is recognized in the period
services are rendered and earned under service arrangements with clients where service fees are fixed or determinable and collectability
is reasonably assured. The Company&rsquo;s service revenue is largely attributable professional engineering services where the
fee is based on the billable rate of the employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Advertising</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Advertising expenses are recorded as sales
and marketing expenses when they are incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Research and Development</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All research and development costs are
expensed as incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Income Tax</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are subject to state and federal income
taxes in the U.S. Significant judgment is required in evaluating our uncertain tax positions and determining our provision for
income taxes. In accordance with FASB ASC Topic 740, <I>&ldquo;Income Taxes,&rdquo;</I> we provide for the recognition of deferred
tax assets if realization of such assets is more likely than not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Fair Value Measurements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2010, the FASB ASC Topic 825,
<I>Financial Instruments</I>, requires<I>&nbsp;</I>disclosures about fair value of financial instruments in quarterly reports
as well as in annual reports.&nbsp;&nbsp;For the Company, this statement applies to certain investments and long-term debt.&nbsp;&nbsp;Also,
the FASB ASC Topic 820, <I>Fair Value Measurements and Disclosures,</I> clarifies the definition of fair value for financial reporting,
establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Various inputs are considered when determining
the value of the Company&rsquo;s investments and long-term debt.&nbsp;&nbsp;The inputs or methodologies used for valuing securities
are not necessarily an indication of the risk associated with investing in these securities.&nbsp;&nbsp;These inputs are summarized
in the three broad levels listed below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="width: 94%; text-align: justify">Level 1 &ndash; observable market inputs that are unadjusted quoted prices for
    identical assets or liabilities in active markets.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="text-align: justify">Level 2 &ndash; other significant observable inputs (including quoted prices for similar securities,
    interest rates, credit risk, etc&hellip;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="text-align: justify">Level 3 &ndash; significant unobservable inputs (including the Company&rsquo;s own assumptions
    in determining the fair value of investments).</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s adoption of FASB ASC
Topic 825 effectively at the inception did not have a material impact on the Company&rsquo;s financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying value of financial assets
and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured
on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial
assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities
measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company
does not have financial assets as an investment carried at fair value on a recurring basis as of December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The availability of inputs observable
in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether
the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing
inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the
valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable
in the market and may require management judgment. As of December 31, 2011, the Company has assets and liabilities in cash, various
receivables, property and equipments, and various payables. Management believes that they are being presented at their fair market
value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Basic and diluted earnings per share</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per share are based on
the weighted-average number of shares of common stock outstanding.&nbsp;&nbsp;Diluted earnings per share is based on the weighted-average
number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following
types of potentially dilutive instruments:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="width: 94%; text-align: justify">Warrants,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="text-align: justify">Employee stock options, and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Symbol; text-align: justify">&middot;</TD>
    <TD STYLE="text-align: justify">Other equity awards, which include long-term incentive awards.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The FASB ASC Topic 260, <I>Earnings per
Share</I>, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Diluted earnings per share are based on
the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method.
Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to
purchase common stock at the average market price during the period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Stock Based Compensation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of determining the variables
used in the calculation of stock compensation expense under the provisions of FASB ASC Topic 505, &ldquo;<I>Equity</I>&rdquo;
and FASB ASC Topic 718, &ldquo;<I>Compensation &mdash; Stock Compensation,&rdquo; </I>we perform an analysis of current market
data and historical company data to calculate an estimate of implied volatility, the expected term of the option and the expected
forfeiture rate. With the exception of the expected forfeiture rate, which is not an input, we use these estimates as variables
in the Black-Scholes option pricing model. Depending upon the number of stock options granted any fluctuations in these calculations
could have a material effect on the results presented in our statement of operations and other comprehensive income. In addition,
any differences between estimated forfeitures and actual forfeitures could also have a material impact on our financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Recent Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2011, the FASB issued ASU 2011-04,
&ldquo;Fair Value Measurement (Topic 820), Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in
U.S. GAAP and IFRS&rdquo;.&nbsp;&nbsp;The amendment results in a consistent definition of fair value and ensures the fair value
measurement and disclosure requirements are similar between GAAP and International Financial Reporting Standards (&ldquo;IFRS&rdquo;).
This amendment changes certain fair value measurement principles and enhances the disclosure requirements particularly for Level
3 fair value measurements. This amendment will be effective for the Company on January 1, 2012. Based on current operations, the
adoption is not expected to have a material effect on the Company&rsquo;s consolidated financial position or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2011, the FASB issued ASU
2011-11, &ldquo;Balance Sheet (Topic 210), Disclosures about Offsetting Assets and Liabilities&rdquo;.&nbsp;&nbsp;The guidance
in this update requires the Company to disclose information about offsetting and related arrangements to enable users of its financial
statements to understand the effect of those arrangements on its financial position.&nbsp;&nbsp;The pronouncement is effective
for fiscal years and interim periods beginning on or after January 1, 2013 with retrospective application for all comparative
periods presented.&nbsp;&nbsp;The Company&rsquo;s adoption of the new standard is not expected to have a material effect on the
Company&rsquo;s consolidated financial position or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>JOBS Act</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April&nbsp;5, 2012, the JOBS Act was
signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for qualifying
public companies. As an &ldquo;emerging growth company&rdquo; we may delay adoption of new or revised accounting pronouncements
applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage
of the benefits of this extended transition period. To the extent we do so, our financial statements may not be comparable to
companies that comply with such new or revised accounting standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, we are in the process of
evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions
set forth in the JOBS Act, if, as an &ldquo;emerging growth company&rdquo;, we choose to rely on such exemptions we may not be
required to, among other things, (i)&nbsp;provide an auditor&rsquo;s attestation report on our system of internal controls over
financial reporting pursuant to Section&nbsp;404, (ii)&nbsp;provide all of the compensation disclosure that may be required of
non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii)&nbsp;comply with
any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor&rsquo;s
report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv)&nbsp;disclose
certain executive compensation related items such as the correlation between executive compensation and performance and comparisons
of the CEO&rsquo;s compensation to median employee compensation. These exemptions will apply for a period of five years following
the completion of our initial public offering or until we are no longer an &ldquo;emerging growth company,&rdquo; whichever is
earlier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
ON ACCOUNTING AND FINANCIAL DISCLOSURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There have been no changes in or disagreements with accountants
on accounting or financial disclosure matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS
AND CONTROL PERSONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth the name and age of officers
and director as of January 7, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; font-weight: bold; border-bottom: Black 1pt solid">Name</TD>
    <TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; width: 6%">Age</TD>
    <TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; width: 73%">Position</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dominick Livoti</TD>
    <TD>&nbsp;</TD>
    <TD>51</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer, President, Secretary, Treasurer and Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Jinxiang Liu</TD>
    <TD>&nbsp;</TD>
    <TD>50</TD>
    <TD>&nbsp;</TD>
    <TD>Vice President and Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Set forth below is a brief description
of the background and business experience of our executive officer and director for the past five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dominick Livoti</B> has served as the
Chief Executive Officer, President, Secretary, Treasurer and Director of the Company since May 31, 2012. Mr. Livoti holds a degree
in Criminal Justice with a minor in Business Administration from C.W. Post University. From 1979 to 1983, Mr. Livoti founded and
operated Lightning Tree Services, located in Bellmore, New York. From 2001 to the present, Mr. Livoti founded Fun Rentals, located
in Deerfield Beach Florida. Fun Rentals has locations in Deerfield Beach, Fort Lauderdale, Key West, St. Augustine and Captiva
Island Florida. Fun Rentals is a leading provider of recreational products for tourists in Florida. Mr. Livoti co-founded Panther
Motors, Inc. in 2004, and served as the Chief Executive Officer and director since its founding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jinxiang. Liu</B> has served as the
Vice President and Director of the Company since May 31, 2012. Mr. Liu holds a degree in engineering from Bejing University. In
1995, Mr. Liu moved to Florida and opened a chain of video rental stores. Mr. Liu sold this business in 2001. Mr. Liu co-founded
Panther Motors, Inc. in 2004, and served as the Director and President of Manufacturing since its founding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp; <B>Involvement in Certain Legal
Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the best of our knowledge, none of our directors or executive
officers has, during the past ten years:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: center">&bull;</TD>
    <TD STYLE="width: 96%; text-align: justify">been convicted in a criminal proceeding or been subject to a pending criminal
    proceeding (excluding traffic violations and other minor offenses);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&bull;</TD>
    <TD STYLE="text-align: justify">had any bankruptcy petition filed by or against the business or property of the person, or
    of any partnership, corporation or business association of which he was a general partner or executive officer, either at
    the time of the bankruptcy filing or within two years prior to that time;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&bull;</TD>
    <TD STYLE="text-align: justify">been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated,
    of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending
    or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings
    and loan, or insurance activities, or to be associated with persons engaged in any such activity;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&bull;</TD>
    <TD STYLE="text-align: justify">been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity
    Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been
    reversed, suspended, or vacated;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&bull;</TD>
    <TD STYLE="text-align: justify">been the subject of, or a party to, any federal or state judicial or administrative order,
    judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding
    among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation,
    any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary
    or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist
    order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with
    any business entity; or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&bull;</TD>
    <TD STYLE="text-align: justify">been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended
    or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Securities Exchange Act of 1934, as
    amended (&ldquo;Exchange Act&rdquo;)), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act),
    or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
    associated with a member.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: justify">Except as set forth in our discussion below in &ldquo;Certain Relationships and
    Related Transactions,&rdquo; none of our directors or executive officers has been involved in any transactions with us or
    any of our directors, executive officers, affiliates or associates which are required to be disclosed pursuant to the rules
    and regulations of the Commission.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Term of Office</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our directors shall be elected at the
annual meeting of the stockholders or at a special meeting called for that purpose. Each director shall hold such office until
his successor is elected and qualified or until his earlier resignation or removal. Any vacancy occurring on the board of directors
and any directorship to be filled by reason of an increase in the board of directors may be filled by the affirmative vote of
a majority of the remaining directors, although less than a quorum, or by a sole remaining director. Such newly elected director
shall hold such office until his successor is elected and qualified or until his earlier resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any officer elected or appointed by the
board of directors may be removed at any time by the board of directors. Any officer appointed by the chairman may be removed
at any time by the board of directors or the chairman. Any officer may resign at any time by giving written notice of his resignation
to the chairman or to the secretary. Any vacancy occurring in any office of chairman of the board, president, vice president,
secretary or treasurer shall be filled by the board of directors. Any vacancy occurring in any other office may be filled by the
chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Family Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no family relationships among
any of our officers or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employment Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not have any employment agreements
with any of our named executive officers or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Consulting Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not have any consulting agreements
with any of our named executive officers or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Involvement in Certain Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain conditions may exist as of the
date the financial statements are issued. These conditions may result in a future loss to us but which will only be resolved when
one or more future events occur or fail to occur. We and our legal counsel assess such contingent liabilities, and such assessment
inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against
us or unasserted claims that may result in such proceedings, our legal counsel evaluates the perceived merits of any legal proceedings
or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the best of our knowledge, none of
our directors or executive officers has been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors,
or has been a party to any judicial or administrative proceeding during the past five years that resulted in a judgment, decree,
or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities
laws, or a finding of any violation of federal or state securities laws, except for matters that were dismissed without sanction
or settlement. Except as set forth in our discussion below in &ldquo;Certain Relationships and Related Transactions, and Director
Independence &ndash; Transactions with Related Persons,&rdquo; none of our directors, director nominees, or executive officers
has been involved in any transactions with us or any of our directors, executive officers, affiliates, or associates which are
required to be disclosed pursuant to the rules and regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following sets forth information with respect to the compensation
awarded or paid to Dominick Livoti, our CEO, President, Secretary, and Treasurer, and Jinxiang Liu, Vice President for all services
rendered in all capacities to us in fiscal 2011.&nbsp;&nbsp;These executive officers are referred to as the &ldquo;named executive
officers&rdquo; throughout this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Summary Compensation Table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth information regarding each element
of compensation that we paid or awarded to our named executive officers for fiscal 2011.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-size: 8pt">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt"><B>Name&nbsp;and<BR STYLE="font-size: 8pt">
    Principal&nbsp;Position</B></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Year</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Salary</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Bonus</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Stock<BR STYLE="font-size: 8pt"> Awards<BR STYLE="font-size: 8pt"> ($)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Option<BR STYLE="font-size: 8pt"> Awards</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Non-<BR STYLE="font-size: 8pt"> Qualified<BR STYLE="font-size: 8pt"> Deferred<BR STYLE="font-size: 8pt"> Compensation<BR STYLE="font-size: 8pt"> Earnings</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">All&nbsp;Other<BR STYLE="font-size: 8pt"> Compensation</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid; font-size: 8pt">Totals<BR STYLE="font-size: 8pt"> ($)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204); font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt">Dominick Livoti,<BR STYLE="font-size: 8pt"> Chief Executive<BR STYLE="font-size: 8pt"> Officer, President,<BR STYLE="font-size: 8pt"> Secretary, and<BR STYLE="font-size: 8pt"> Treasurer</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 8pt">2011</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt">Jinxiang Liu, Vice President</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 8pt">2011</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt">$</TD><TD STYLE="text-align: right; font-size: 8pt">0</TD><TD STYLE="text-align: left; font-size: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt; width: 12%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="font-size: 8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; font-size: 8pt; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; font-size: 8pt; width: 1%">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Outstanding Equity Awards at Fiscal Year-End Table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We had no outstanding equity awards as of the end of fiscal
2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Compensation of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors are permitted to receive fixed
fees and other compensation for their services as directors. The Board of Directors has the authority to fix the compensation
of directors. No amounts have been paid to, or accrued to, directors in such capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth certain
information as of January 7, 2013 with respect to the holdings of: (1) each person known to us to be the beneficial owner of more
than 5% of our common stock; (2) each of our directors, nominees for director and named executive officers; and (3) all directors
and executive officers as a group. To the best of our knowledge, each of the persons named in the table below as beneficially
owning the shares set forth therein has sole voting power and sole investment power with respect to such shares, unless otherwise
indicated.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Name of Beneficial Owner and <BR>Address (1)</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount and Nature of Beneficial <BR>Ownership of Common Stock</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent of <BR>Common Stock (2)</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">5% Shareholders</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 49%; text-align: justify">Cardinal Advisors, LLC(3)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: right">1,500,000</TD><TD STYLE="width: 14%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">6.66</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Directors and Executive Officers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Dominick Livoti</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.41</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Jinxiang Liu</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.41</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: justify">All directors and officers as a group (2 people)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88.82</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: center">(1)</TD>
    <TD STYLE="width: 95%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise noted, the address
        of each beneficial owner is c/o Panther Motor Group, Inc. 10358 West McNab Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tamarac, Florida 33321</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(2)</TD>
    <TD STYLE="text-align: justify">Based on 22,516,500 shares of common stock issued and outstanding as of January 7, 2013.&nbsp;&nbsp;Shares
    of common stock subject to options or warrants currently exercisable or exercisable within 60 days, are deemed outstanding
    for purposes of computing the percentage of the person holding such options or warrants, but are not deemed outstanding for
    purposes of computing the percentage of any other person.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(3)</TD>
    <TD STYLE="text-align: justify">This amount includes 600,000 shares of common stock that has not yet vested according to the
    Company&rsquo;s corresponding consulting agreement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>TRANSACTIONS WITH RELATED PERSONS, PROMOTERS AND CERTAIN
CONTROL PERSONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transactions with Related Persons</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has an outstanding receivable
from Skate Shack Inc/dba Fun Rentals., a wholly owned company of the spouse of company co-founder Dominick Livoti, Jr. The balance
receivable was $5,706 and $0 as of December 31, 2011 and December 31, 2010. Sales to Skate Shack, Inc. were $74,457 and $25,872
for 2011 and 2010, respectively. Additionally, on December 31, 2010, the Company forgave a receivable from Skate Shack, Inc. in
the amount of $47,065 in which was treated as a non-cash shareholder distribution from the Company to Mr. Livoti.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company leases its warehouse and office
space, on a month-to-month basis, from a company owned by co-founder, Jinxiang Liu.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 12A. Disclosure of Commission
Position on Indemnification of Securities Act Liabilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our directors and officers are indemnified
as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors and certain officers
against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions
described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have been advised that in the opinion
of the Securities and Exchange Commission indemnification for liabilities arising under the Securities Act is against public policy
as expressed in the Securities Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities is asserted by one of our directors, officers, or controlling persons in connection with the securities being registered,
we will, unless in the opinion of our legal counsel the matter has been settled by controlling precedent, submit the question
of whether such indemnification is against public policy to a court of appropriate jurisdiction. We will then be governed by the
court&rsquo;s decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2,516,500 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PANTHER MOTOR GROUP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">YOU SHOULD RELY ONLY ON THE INFORMATION
CONTAINED IN THIS DOCUMENT OR THAT WE HAVE REFERRED YOU TO. WE HAVE NOT AUTHORIZED ANYONE TO PROVIDE YOU WITH INFORMATION THAT
IS DIFFERENT. THIS PROSPECTUS IS NOT AN OFFER TO SELL COMMON STOCK AND IS NOT SOLICITING AN OFFER TO BUY COMMON STOCK IN ANY STATE
WHERE THE OFFER OR SALE IS NOT PERMITTED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until _____________, all dealers that
effect transactions in these securities whether or not participating in this offering may be required to deliver a prospectus.
This is in addition to the dealer&rsquo;s obligation to deliver a prospectus when acting as underwriters and with respect to their
unsold allotments or subscriptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Date of This Prospectus is [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]
__, 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II&nbsp;&nbsp;&nbsp;INFORMATION
NOT REQUIRED IN THE PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 13. Other Expenses of Issuance and Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 87%">Securities and Exchange Commission registration fee</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">$</TD>
    <TD STYLE="width: 10%; text-align: right">68.65</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Federal Taxes</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>State Taxes and Fees</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Transfer Agent Fees</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Accounting fees and expenses</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">2,500</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Legal fees and expense</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">30,000</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Blue Sky fees and expenses</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right">1,950</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> 34,518.65</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All amounts are estimates other than the Commission&rsquo;s
registration fee. We are paying all expenses of the offering listed above. No portion of these expenses will be borne by the selling
shareholders. The selling shareholders, however, will pay any other expenses incurred in selling their common stock, including
any brokerage commissions or costs of sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 14. Indemnification of Directors
and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our directors and officers are indemnified
as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors and certain officers
against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions
described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have been advised that in the opinion
of the Securities and Exchange Commission indemnification for liabilities arising under the Securities Act is against public policy
as expressed in the Securities Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities is asserted by one of our directors, officers, or controlling persons in connection with the securities being registered,
we will, unless in&nbsp;the opinion of our legal counsel the matter has been settled by controlling precedent, submit the question
of whether such indemnification is against public policy to a court of appropriate jurisdiction. We will then be governed by the
court&rsquo;s decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 15. Recent Sales of Unregistered
Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We were incorporated in the State of Nevada
on May 31, 2012. In connection with incorporation, we issued 10,000,000 shares of common stock to our founders. These shares were
issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;) and were
issued as founders shares. These shares of our common stock qualified for exemption under Section 4(2) of the Act since the issuance
shares by us did not involve a public offering. The offering was not a &ldquo;public offering&rdquo; as defined in Section 4(2)
due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares
offered. We did not undertake an offering in which we sold a high number of shares to a high number of investors. In addition,
the investors had the necessary investment intent as required by Section 4(2) since they agreed to and received share certificates
bearing a legend stating that such shares are restricted pursuant to Rule 144 of the Act. This restriction ensures that these
shares would not be immediately redistributed into the market and therefore not be part of a &ldquo;public offering.&rdquo; Based
on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4(2) of the Act for this
transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2012, we issued 10,000,000
shares of common stock to the owners of Panther Motors, Inc. in exchange for 1,000 shares of Panther Motors, Inc. <I>These shares
were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;)
and were issued as founders shares. These shares of our common stock qualified for exemption under Section 4(2) of the Securities
Act of 1933 since the issuance shares by us did not involve a public offering. The offering was not a &ldquo;public offering&rdquo;
as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the
offering and number of shares offered. We did not undertake an offering in which we sold a high number of shares to a high number
of investors. In addition, the investors had the necessary investment intent as required by Section 4(2) since they agreed to
and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933 Securities
Act. This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part
of a &ldquo;public offering.&rdquo; Based on an analysis of the above factors, we have met the requirements to qualify for exemption
under Section 4(2) of the Securities Act of 1933 for this transaction.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2012, we issued 516,500 shares in a
private offering pursuant to Regulation D Rule 506 at an offering price of $0.20 per share. <I>The Common Stock issued in this
offering was issued in a transaction not involving a public offering in reliance upon an exemption from registration provided
by Rule 506 of Regulation D of the Securities Act of 1933. In accordance with Section 230.506 (b)(1) of the Securities Act of
1933, these shares qualified for exemption under the Rule 506 exemption for this offerings since it met the following requirements
set forth in Reg. &sect;230.506:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-style: italic">(A)</TD>
    <TD STYLE="width: 97%; font-style: italic">No general solicitation or advertising was conducted by us in connection with the
    offering of any of the Shares.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic">(B)</TD>
    <TD STYLE="font-style: italic">At the time of the offering we were not: (1) subject to the reporting requirements of Section
    13 or 15 (d) of the Exchange Act; or (2) an &ldquo;investment company&rdquo; within the meaning of the federal securities
    laws.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic">(C)</TD>
    <TD STYLE="font-style: italic">Neither we, nor any of our predecessors, nor any of our directors, nor any beneficial owner
    of 10% or more of any class of our equity securities, nor any promoter currently connected with us in any capacity has been
    convicted within the past ten years of any felony in connection with the purchase or sale of any security.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic">(D)</TD>
    <TD STYLE="font-style: italic">The offers and sales of securities by us pursuant to the offerings were not attempts to evade
    any registration or resale requirements of the securities laws of the United States or any of its states.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic">(E)</TD>
    <TD STYLE="font-style: italic">None of the investors are affiliated with any of our directors, officers or promoters or any
    beneficial owner of 10% or more of our securities.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2012, we issued 2,000,000 shares in
exchange for services rendered. <I>These shares were issued in reliance on the exemption under Section 4(2) of the Securities
Act of 1933, as amended (the &ldquo;Act&rdquo;) and were issued as founders shares. These shares of our common stock qualified
for exemption under Section 4(2) of the Securities Act of 1933 since the issuance shares by us did not involve a public offering.
The offering was not a &ldquo;public offering&rdquo; as defined in Section 4(2) due to the insubstantial number of persons involved
in the deal, size of the offering, manner of the offering and number of shares offered. We did not undertake an offering in which
we sold a high number of shares to a high number of investors. In addition, the investors had the necessary investment intent
as required by Section 4(2) since they agreed to and received share certificates bearing a legend stating that such shares are
restricted pursuant to Rule 144 of the 1933 Securities Act. This restriction ensures that these shares would not be immediately
redistributed into the market and therefore not be part of a &ldquo;public offering.&rdquo; Based on an analysis of the above
factors, we have met the requirements to qualify for exemption under Section 4(2) of the Securities Act of 1933 for this transaction.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 16. Exhibits and Financial Statement Schedules</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 10%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: justify">EXHIBIT<BR> NUMBER</TD>
    <TD NOWRAP STYLE="width: 2%; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 88%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: justify">DESCRIPTION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">3.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Articles of Incorporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">3.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By-Laws</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">5.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Opinion of Anslow &amp; Jaclin, LLP.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">23.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Consent of&nbsp; Lake &amp; Associates CPA&rsquo;s.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* To be filed by amendment.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 17. Undertakings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A)&nbsp;The undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;To file, during any period in which offers or sales
are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">i.&nbsp;&nbsp;&nbsp;&nbsp;To include any
prospectus required by section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">ii.&nbsp;&nbsp;&nbsp;To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value
of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth
in the &quot;Calculation of Registration Fee&quot; table in the effective registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">iii.&nbsp;&nbsp;To include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
to such information in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) Insofar as indemnification for liabilities arising under
the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such
issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5) Each prospectus filed pursuant to Rule 424(b) as part of
a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses
filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is
first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part
of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such
first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(6) That, for the purpose of determining liability of the registrant
under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes
that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of
the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">i.&nbsp;&nbsp;&nbsp;&nbsp;Any preliminary
prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">ii.&nbsp;&nbsp;&nbsp;Any free writing prospectus
relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">iii.&nbsp;&nbsp;The portion of any other
free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">iv.&nbsp;&nbsp;Any other communication that
is an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, there onto
duly authorized, in the City of Tamarac, State of Florida, on&nbsp;November 21, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PANTHER MOTOR </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>GROUP, INC.</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 46%; border-bottom: windowtext 1pt solid; font-style: italic">/s/Dominick Livoti</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dominick Livoti</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; font-weight: bold">Signature</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 46%; font-weight: bold">Title</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 20%; font-weight: bold">Date</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; font-style: italic">/s/ Dominick Livoti</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer and Director</TD>
    <TD>&nbsp;</TD>
    <TD>January __, 2013.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dominick Livoti</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; font-style: italic">/s/Jinxiang Liu</TD>
    <TD>&nbsp;</TD>
    <TD>Vice President and Director</TD>
    <TD>&nbsp;</TD>
    <TD>January __, 2013.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Jinxiang Liu</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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[{"type": "S-1", "sequence": "1", "filename": "v331812_s1.htm", "description": "FORM S-1", "secsgml_size_bytes": 472555}]
{"company-data": {"conformed-name": "PANTHER MOTOR GROUP, INC", "cik": "0001563778", "irs-number": "461499235", "state-of-incorporation": "NV"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-186009", "film-number": "13528164"}, "business-address": {"street1": "10358 WEST MCNAB ROAD", "city": "TAMARAC", "state": "FL", "zip": "33321", "phone": "954 682 3693"}, "mail-address": {"street1": "10358 WEST MCNAB ROAD", "city": "TAMARAC", "state": "FL", "zip": "33321"}, "former-company": {"former-conformed-name": "PANTHER MOTORS GROUP INC", "date-changed": "20121206"}}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PANTHER MOTOR GROUP, INC
(Exact name of registrant in its charter)
Nevada
3751
46-1499235
(State or other jurisdiction of
incorporation)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer Identification No.)
10358 West McNab Road
Tamarac, Florida 33321
Tel.: 954-682-3693
(Address, including zip code, and telephone
number,
including area code, of registrant's
principal executive offices)
Copies of communications to:
Gregg E. Jaclin, Esq.
Anslow & Jaclin, LLP
195 Route 9 South, Suite204
Manalapan, NJ 07726
Tel. No.: (732) 409-1212
Fax No.: (732) 577-1188
If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the
following box.
¨
If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.
o
If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.
o
If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.
o
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the
definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer (Do not check if a smaller reporting company)
¨
Smaller reporting company
x
CALCULATION OF REGISTRATION FEE
Title of Each Class Of Securities to be
Registered
Amount to
be
Registered
(1)
Proposed
Maximum
Offering
Price per share
(2)
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common Stock, $0.001 par value per
share
2,516,500
$
0.20
$
503,300
$
68.65
(1) This Registration
Statement covers the resale by our selling shareholders of up to 2,516,500 shares of common stock previously issued to such selling
shareholders.
(2) The offering
price has been estimated solely for the purpose of computing the amount of the registration fee in accordance with Rule 457(o).
Our common stock is not traded on any national exchange and in accordance with Rule 457; the offering price was determined by the
price of the shares that were sold to our shareholders in a private placement memorandum. The price of $0.20 is a fixed price at
which the selling security holders may sell their shares until our common stock is quoted on the OTCBB at which time the shares
may be sold at prevailing market prices or privately negotiated prices. There can be no assurance that a market maker will agree
to file the necessary documents with the Financial Industry Regulatory Authority, which operates the OTC Bulletin Board, nor can
there be any assurance that such an application for quotation will be approved.
THE REGISTRANT HEREBY AMENDS THIS REGISTRATION
STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT
WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a)
OF THE SECURITIES ACT OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT
TO SUCH SECTION 8(a), MAY DETERMINE.
The information in this preliminary prospectus
is not complete and may be changed. These securities may not be sold until the registration statement filed with the U.S. Securities
and Exchange Commission ("SEC") is effective. This preliminary prospectus is not an offer to sell these securities
and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
The information in this prospectus is
not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to
buy these securities in any state where the offer or sale is not permitted.
PRELIMINARY PROSPECTUS
SUBJECT TO COMPLETION
DATED  January 7, 2013
PANTHER MOTOR GROUP, INC.
2,516,500 SHARES OF COMMON STOCK
The selling security holders named in this
prospectus are offering all of the shares of common stock offered through this prospectus.  We will not receive any proceeds
from the sale of the common stock covered by this prospectus.
The selling security holders are offering
2,516,500 shares of the Company's common stock at $0.20 per share.
Our common stock is presently not traded
on any market or securities exchange. The selling security holders have not engaged any underwriter in connection with the sale
of their shares of common stock.  Common stock being registered in this registration statement may be sold by selling
security holders at a fixed price of $0.20 per share until our common stock is quoted on the OTC Bulletin Board ("OTCBB")
and thereafter at prevailing market prices or privately negotiated prices or in transactions that are not in the public market.
The aggregate net proceeds that the selling shareholders will receive assuming all shares are sold at a fixed price of $0.20 per
share is $503,300. There can be no assurance that a market maker will agree to file the necessary documents with the Financial
Industry Regulatory Authority ("FINRA"), which operates the OTCBB, nor can there be any assurance that such an application
for quotation will be approved. We have agreed to bear the expenses relating to the registration of the shares of the selling security
holders.
Panther Motor Group, Inc. is an emerging
growth company, as defined in Section 2(a) of the Securities Act of 1933.
Investing in our common stock involves
a high degree of risk. See "Risk Factors" beginning on page 2 to read about factors you should consider before
buying shares of our common stock.
NEITHER THE SECURITIES AND EXCHANGE
COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS
IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The Date of This Prospectus is: [                 ],
2013
TABLE OF CONTENTS
PAGE
Prospectus Summary
1
Risk Factors
3
Use of Proceeds
6
Determination of Offering Price
6
Dilution
6
Selling Shareholders
7
Plan of Distribution
8
Interests of Named Experts and Counsel
10
Description of Business
10
Description of Property
13
Legal Proceedings
13
Market for Common Equity and Related Stockholder Matters
13
Index to Financial Statements
Management Discussion and Analysis of Financial Condition and Financial Results
30
Plan of Operations
30
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
34
Directors, Executive Officers, Promoters and Control Persons
35
Executive Compensation
36
Security Ownership of Certain Beneficial Owners and Management
36
Transactions with Related Persons, Promoters and Certain Control Persons
37
i
PROSPECTUS SUMMARY
This summary highlights selected information
contained elsewhere in this prospectus.  This summary does not contain all the information that you should consider before
investing in the common stock.  You should carefully read the entire prospectus, including "Risk Factors",
"Management's Discussion and Analysis of Financial Condition and Results of Operations" and the Financial Statements,
before making an investment decision. In this Prospectus, the terms "Panther" "Company," "we,"
"us" and "our" refer to Panther Motor Group, Inc.
Overview
Panther Motor Group Inc., a Nevada corporation
("we", "us", "our", or the "Company"), was formed on May 31, 2012. Through our
wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated on August 11, 2004 ("Panther Motors"),
we manufacture and provide service to economical and unique personal transport vehicles. Our current product is a personal transport
known by the trademarked name ScootCoupe. It is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed
throughout the United States via fleet sales to commercial users and direct sales to retail consumers. We also provide part and
technical services to our customer base as part of our core business. We derive 80 percent of our revenue from our 40 fleet customers
in the form of vehicle and part sales, and the remaining 20 percent of revenue is derived from direct sales and parts to retail
customers.
On June 1, 2012, we entered into a Share
Exchange Agreement (the "Share Exchange Agreement") with Panther Motors, and all of the shareholders of Panther Motors
(the "Panther Motors Shareholders"), pursuant to which, we acquired 100% of the issued and outstanding securities of
Panther Motors and, in exchange, the Panther Motors Shareholders received 10,000,000 shares of our common stock representing approximately
100% of the issued and outstanding securities of the Company on a fully diluted basis as of the closing date of the Share Exchange
Agreement.
On January 5, 2013, the Company effected
a 2 for 1 forward stock split of our common stock that decreased the price per share to $0.20 and increased the amount of outstanding
shares.
We presently maintain our principal offices
at 10358 West McNab Road, Tamarac, Florida 33321. Our telephone number is (954) 682-3693.
Emerging Growth Company Status
We are an "emerging growth company,"
as defined in Section 2(a) of the Securities Act of 1933, or the Securities Act, as modified by the Jumpstart Our Business Startups
Act of 2012, or the JOBS Act. As such, we are eligible to take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not "emerging growth companies" including, but not limited to,
not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements,
and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval
of any golden parachute payments not previously approved. We have not made a decision whether to take advantage of any or all of
these exemptions. If we do take advantage of any of these exemptions, we do not know if some investors will find our common stock
less attractive as a result. The result may be a less active trading market for our common stock and our stock price may be more
volatile.
1
In addition, Section 107 of the JOBS Act
also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section
7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging growth
company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies.
We intend to take advantage of the benefits of this extended transition period.
We could remain an "emerging growth
company" for up to five years, or until the earliest of (a) the last day of the first fiscal year in which our annual gross
revenues exceed $1 billion, (b) the date that we become a "large accelerated filer" as defined in Rule 12b-2 under
the Exchange Act, which would occur if the market value of our common stock that is held by non-affiliates exceeds $700 million
as of the last business day of our most recently completed second fiscal quarter, or (c) the date on which we have issued more
than $1 billion in non-convertible debt during the preceding three-year period.
Where You Can Find Us
We presently maintain our principal offices at 10358 West McNab
Road, Tamarac, Florida 33321 and our telephone number is (954) 682-3693.
The Offering
Common stock offered by selling security holders
2,516,500 shares of common stock. This number represents 11.18% of our current outstanding common stock (1).
Common stock outstanding before the offering
22,516,500 common shares.(2)
Common stock outstanding after the offering
22,516,500 common shares as of January 7, 2013.
Terms of the Offering
The selling security holders will determine when and how they will sell the common stock offered in this prospectus.  The selling security holders will sell at a fixed price of $0.20 per share until our common stock is quoted on the OTC Bulletin Board, and thereafter at prevailing market prices or privately negotiated prices or in transactions that are not in the public market.
Termination of the Offering
The offering will conclude upon the earliest of (i) such time as all of the common stock has been sold pursuant to the registration statement or (ii) such time as all of the common stock becomes eligible for resale without volume limitations pursuant to Rule 144 under the Securities Act, or any other rule of similar effect.
Use of proceeds
We are not selling any shares of the common stock covered by this prospectus. We will not receive any proceeds from the sale of the common stock covered by this prospectus.
Risk Factors
The Common Stock offered hereby involves a high degree of risk and should not be purchased by investors who cannot afford the loss of their entire investment. See "Risk Factors" beginning on page 2.
(1)
Based on 22,516,500 shares of common stock outstanding as of January 7, 2012.
(2)
Except where we otherwise state, the information we present reflects our 2-for-1 forward stock
split effected on January 5, 2013.
2
RISK FACTORS
The shares of our common stock being
offered for resale by the selling security holders are highly speculative in nature, involve a high degree of risk and should be
purchased only by persons who can afford to lose the entire amount invested in the common stock. Before purchasing any of the shares
of common stock, you should carefully consider the following factors relating to our business and prospects. If any of the following
risks actually occurs, our business, financial condition or operating results could be materially adversely affected. In such case,
you may lose all or part of your investment.  You should carefully consider the risks described below and the other information
in this process before investing in our common stock.
Risks Associated With Our Business
Our
Future Success Is Dependent, In Part, On the Performance And Continued Service Of Dominick Livoti Jr. and Jinxiang Liu, Our Officers
and Directors.
We are presently dependent to a great extent
upon the experience, abilities and continued services of Dominick Livoti Jr. and Jinxiang Liu, our officers and directors. The
loss of services of any of the management staff could have a material adverse effect on our business, financial condition or results
of operation.
We
Have No Plans To Pay Dividends.
To date, we have paid no cash dividends
on our common shares. For the foreseeable future, earnings generated from our operations will be retained for use in our business
and not to pay dividends.
We
will need subsequent financing however there is no assurance that we will obtain it or obtain it under terms that are agreeable
to us.
Although we anticipate that upon realization
and completion of the full amount of this Offering, we will be able to generate additional capital to complete our plans, there
cannot be any assurance that this can be accomplished. Consequently, we may determine a need to obtain additional financing which
could cause additional dilution to subscribing shareholders to this offering. Should full subscription to this offering not be
obtained, the purchasers of the Shares hereby offered may not realize any return on their investment and may be exposed to the
loss of all or substantially all of their investment.
We
will Rely on our Intellectual Property Rights, and if we are Unable to Protect these Rights we may Face increased Competition and
our Business may be Materially Adversely Affected.
We regard our intellectual property as
critical to our success, and we rely on copyright, patent and trade secret protection to protect our proprietary rights in intellectual
property. We are currently pursuing and expect to continue pursuing the registration of copyrights, patents and trademarks in the
United States and internationally. Effective trademark, copyright, trade secret or patent protection may not be available in every
country in which our services are or will become available. Any of our intellectual property rights may be challenged, invalidated
or circumvented, or the rights granted thereunder may not provide any competitive advantage. We could also incur substantial costs
in asserting our intellectual property or proprietary rights against others, including any such rights obtained from third parties,
and/or defending any infringement suits brought against us. Others may independently develop substantially equivalent proprietary
information and techniques or otherwise gain access to our trade secrets and know-how. We may be required to obtain licenses to
certain intellectual property or other proprietary rights from third parties. Such licenses or proprietary rights may not be made
available under acceptable terms, if at all. If we do not obtain required licenses or proprietary rights, we could encounter delays
in product development or find that the development or sale of services requiring such licenses is foreclosed.
We
depend on our suppliers for our components and raw materials, and our production or operating margins would be harmed if the cost
of our raw materials were to significantly increase or if these suppliers are not able to meet our demand and alternative sources
are not available.
Because some of the components used to
make our products currently come from single or a limited number of suppliers, we are subject to significant supply and pricing
risks. Many components that are available from multiple sources are at times subject to industry-wide shortages and significant
commodity pricing fluctuations. If our suppliers are unable to meet our demand for components and raw materials and if we are unable
to obtain an alternative source or if the price available from our current suppliers or an alternative source is prohibitive, our
ability to maintain timely and cost-effective production of our products would be seriously harmed and our operating results would
suffer. In addition, as we do not have long-term agreements with our major suppliers and cannot guarantee their stability,
they may stop manufacturing our components at any time, with little or no notice.  In addition, if we are required to use
alternative sources, we may be required to redesign some aspects of the affected products, which may involve delays and additional
expense. If there are any significant interruptions in the supply of components or if prices rise significantly, we may be unable
to manufacture sufficient quantities of our finished products or we may be unable to manufacture them at targeted cost levels,
and our business and operating results could be harmed.
Any
errors or defects contained in our products, or our failure to comply with applicable safety STANDARDS could result in recalls,
delayed shipments, rejection of our products and damage to our reputation, and could expose us to regulatory or other legal action.
Our products may contain errors or defects
that are discovered after commercial shipments have begun, which could result in the rejection of our products by our retailers,
damage to our reputation, lost sales, diverted development resources and increased customer service and support costs and warranty
claims. Individuals could sustain injuries from our products, and we may be subject to claims or lawsuits resulting from such injuries.
There is a risk that these claims or liabilities may exceed, or fall outside the scope of, our insurance coverage. Moreover, we
may be unable to retain adequate liability insurance in the future.
THERE MAY BE A LOWER THAN ANTICIPATED
ACCEPTENCE OF OUR PRIMARY PRODUCT.
There is an established market for our
primary product, the ScootCoupe. This market includes resort rental companies and personal users seeking a safer motorcycle. Although
we have conducted market research and there has been excellent interest from customers for our personal transport vehicles, we
do not know if such interest will continue and if we will be able to increase sales of our product. As our primary product is unlike
other vehicles available and does not occupy a highly established market segment, we do not know if we will be able to sustain
a substantial market for our primary product. If we do not sustain and/or grow a market, our sales will suffer and we may not be
profitable.
3
THE COST OF RAW MATERIALS USED BY OUR
PRODUCTS MAY FLUCTUATE, WHICH COULD MATERIALLY REDUCE OUR PROFITABILITY.
At times, we may experience significant
increases in our materials costs, primarily as a result of global increases in raw materials costs including steel, composite elements
in fiberglass, and resin materials, as a result of increased demand and limited supply. We also purchase parts provided by suppliers
that are manufactured from steel. The cost of these parts is impacted by the same economic conditions that impact the cost of the
parts our original equipment manufacturer manufactures. The cost to manufacture the ScootCoupe and related service parts may be
affected by fluctuations in prices for these raw materials. If costs of these raw materials increase, our profitability could be
reduced.
CHANGES IN GOVERNMENT REGULATIONS COULD
AFFECT THE MARKET FOR OUR PRIMARY PRODUCT.
Our primary product, the ScootCoupe is
currently "street-legal" on most non-highway streets in the United States. With the less powerful 49cc model of the
ScootCoupe, users do not need a motorcycle endorsement on their driver's licenses in most states. The ScootCoupe is a unique
vehicle and belongs to an established motorcycle market category; its street legality in all jurisdictions in the United States
has been definitively established. There is a possibility that states or municipalities may alter or change their legal definitions
of motorcycles in the future and the ScootCoupe may not legally be driven on streets, which we believe would significantly hurt
the sales of our product in such locations. In addition, states may determine that the 49cc ScootCoupe requires a motorcycle endorsement
to drive, which would substantially limit the number of potential purchasers of our product.
ACCIDENTS AND BAD PUBLICITY COULD SUBSTANTIALLY
HURT OUR SALES.
If there are any well publicized accidents
involving the ScootCoupe, our sales could decrease. As our product is unique and has not been highly established in the eyes of
the American public, any adverse publicity could cause consumers to have negative associations with our product, and could hurt
our sales and therefore our profitability.
Risks Associated with our Securities
THERE IS NO CURRENT TRADING MARKET FOR
OUR COMMON STOCK, AND THERE IS NO ASSURANCE OF AN ESTABLISHED PUBLIC TRADING MARKET, WHICH WOULD ADVERSELY AFFECT THE ABILITY OF
OUR INVESTORS TO SELL THEIR SECURITIES IN THE PUBLIC MARKET.
Our common stock is not currently listed
or quoted for trading on any national securities exchange or national quotation system. There is no guarantee that any exchange
or quotation system will permit our common stock to be listed and traded. If we fail to obtain a listing on a stock exchange, we
may seek quotation on the OTC Bulletin Board. FINRA has enacted changes that limit quotations on the OTC Bulletin Board to securities
of issuers that are current in their reports filed with the SEC. The effect on the OTC Bulletin Board of these rule changes and
other proposed changes cannot be determined at this time. The OTC Bulletin Board is an inter-dealer, over-the-counter market that
provides significantly less liquidity than stock exchanges. The quotation of our shares on the OTC Bulletin Board may result in
a less liquid market available for existing and potential stockholders to trade our shares, could depress the trading price of
our ordinary shares and could have a long-term adverse impact on our ability to raise capital in the future.
OUR SECURITIES ARE RESTRICTED SECURITIES
WITH LIMITED TRANSFERABILITY.
Our securities should be considered a long-term,
illiquid investment. Our common stock has not been registered under the Act, and cannot be sold without registration under the
Act or any exemption from registration. In addition, our common stock is not registered under any state securities laws that would
permit their transfer. Because of these restrictions and the absence of an active trading market for the securities, a shareholder
will likely find it difficult to liquidate an investment.
THE PRICE OF OUR COMMON STOCK COULD
BE VOLATILE AND COULD DECLINE FOLLOWING THIS OFFERING AT A TIME WHEN YOU WANT TO SELL YOUR HOLDINGS.
Numerous factors, many of which are beyond
our control, may cause the market price of our ordinary shares to fluctuate significantly. These factors include:
·
our earnings releases, actual or anticipated changes in our earnings, fluctuations in our operating results or our failure
to meet the expectations of financial market analysts and investors;
·
changes in financial estimates by us or by any securities analysts who might cover our stock;
·
speculation about our business in the press or the investment community;
·
significant developments relating to our relationships with our customers or suppliers;
·
stock market price and volume fluctuations of other publicly traded companies and, in particular, those that are in our industry;
·
demand for our products;
·
investor perceptions of our industry in general and our company in particular;
·
the operating and stock performance of comparable companies;
·
general economic conditions and trends;
4
·
major catastrophic events;
·
announcements by us or our competitors of new products, significant acquisitions, strategic partnerships or divestitures;
·
changes in accounting standards, policies, guidance, interpretation or principles;
·
loss of external funding sources;
·
sales of our common stock, including sales by our directors, officers or significant shareholders; and
·
Additions or departures of key personnel.
Securities class action litigation is often
instituted against companies following periods of volatility in their stock price. This type of litigation could result in substantial
costs to us and divert our management's attention and resources.
Moreover, securities markets may from time
to time experience significant price and volume fluctuations for reasons unrelated to operating performance of particular companies.
These market fluctuations may adversely affect the price of our ordinary shares and other interests in our company at a time when
you want to sell your interest in us.
IN THE EVENT THAT THE COMPANY'S
SHARES ARE TRADED, THEY WILL MOST LIKELY TRADE UNDER $5.00 PER SHARE AND THUS WILL BE A PENNY STOCK. TRADING IN PENNY STOCKS HAS
MANY RESTRICTIONS AND THESE RESTRICTIONS COULD SEVERLY AFFECT THE PRICE AND LIQUIDITY OF THE COMPANY'S SHARES.
In the event that our shares are traded,
and our stock will most likely trade below $5.00 per share, and our stock will therefore be known as a "penny stock",
which is subject to various regulations involving disclosures to be given to you prior to the purchase of any penny stock. The
U.S. Securities and Exchange Commission (the "SEC") has adopted regulations which generally define a "penny
stock" to be any equity security that has a market price of less than $5.00 per share, subject to certain exceptions. Our
common stock will probably be considered to be a "penny stock" and will subject to the additional regulations and risks
of such a security. A penny stock is subject to rules that impose additional sales practice requirements on broker/dealers who
sell these securities to persons other than established customers and accredited investors. For transactions covered by these rules,
the broker/dealer must make a special suitability determination for the purchase of these securities. In addition, he must receive
the purchaser's written consent to the transaction prior to the purchase. He must also provide certain written disclosures
to the purchaser. Consequently, the "penny stock" rules may restrict the ability of broker/dealers to sell our securities,
and may negatively affect the ability of holders of shares of our common stock to resell them. These disclosures require you to
acknowledge that you understand the risks associated with buying penny stocks and that you can absorb the loss of your entire investment.
Penny stocks are low priced securities that do not have a very high trading volume. Consequently, the price of the stock is often
volatile and you may not be able to buy or sell the stock when you want to.
5
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS
The information contained in this report,
including in the documents incorporated by reference into this report, includes some statement that are not purely historical and
that are "forward-looking statements." Such forward-looking statements include, but are not limited to, statements
regarding our and their management's expectations, hopes, beliefs, intentions or strategies regarding the future, including
our financial condition, results of operations. In addition, any statements that refer to projections, forecasts or other characterizations
of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipates,"
"believes," "continue," "could," "estimates," "expects," "intends,"
"may," "might," "plans," "possible," "potential," "predicts,"
"projects," "seeks," "should," "would" and similar expressions, or the negatives
of such terms, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained
in this report are based on current expectations and beliefs concerning future developments and the potential effects on the parties
and the transaction. There can be no assurance that future developments actually affecting us will be those anticipated. These
that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking
statements, including the following forward-looking statements involve a number of risks, uncertainties (some of which are beyond
the parties' control) or other assumptions.
USE OF PROCEEDS
We will not receive any proceeds from the
sale of common stock by the selling security holders. All of the net proceeds from the sale of our common stock will go to the
selling security holders as described below in the sections entitled "Selling Security Holders" and "Plan of
Distribution".  We have agreed to bear the expenses relating to the registration of the common stock for the selling
security holders.
DETERMINATION OF OFFERING PRICE
Since our common stock is not listed or
quoted on any exchange or quotation system, the offering price of the shares of common stock was determined by the price of the
common stock that was sold to our security holders pursuant to an exemption under Section 4(2) of the Securities Act of 1933 and
Rule 506 of Regulation D promulgated under the Securities Act of 1933.
The offering price of the shares of our
common stock does not necessarily bear any relationship to our book value, assets, past operating results, financial condition
or any other established criteria of value. The facts considered in determining the offering price were our financial condition
and prospects, our limited operating history and the general condition of the securities market.
Although our common stock is not listed
on a public exchange, we intend to obtain a listing on the OTCBB concurrently with the filing of this prospectus. In order to be
quoted on the OTCBB, a market maker must file an application on our behalf in order to make a market for our common stock. There
can be no assurance that a market maker will agree to file the necessary documents with FINRA, which operates the OTC Bulletin
Board, nor can there be any assurance that such an application for quotation will be approved.
In addition, there is no assurance that
our common stock will trade at market prices in excess of the initial offering price as prices for the common stock in any public
market which may develop will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity.
DILUTION
The common stock to be sold by the selling
shareholders as provided in the "Selling Security Holders" section is common stock that is currently issued. Accordingly,
there will be no dilution to our existing shareholders.
6
SELLING SECURITY HOLDERS
Except where we otherwise state, the information
we present reflects our 2-for-1 forward stock split effected on January 5, 2013.
The common shares being offered for resale
by the selling security holders consist of 2,516,500 shares of our common stock held by 40 shareholders. Such shareholders include:
(i) the holders of 516,500 shares sold in our private offering pursuant to Regulation D Rule 506 completed in 2012 at an offering
price of $0.20 per share and (ii) the holders of 2,000,000 shares transferred in exchange for services rendered.
The following table sets forth the names
of the selling security holders, the number of shares of common stock beneficially owned by each of the selling stockholders as
of  January 7, 2013 and the number of shares of common stock being offered by the selling stockholders. The shares being offered
hereby are being registered to permit public secondary trading, and the selling stockholders may offer all or part of the shares
for resale from time to time. However, the selling stockholders are under no obligation to sell all or any portion of such shares
nor are the selling stockholders obligated to sell any shares immediately upon effectiveness of this prospectus. All information
with respect to share ownership has been furnished by the selling stockholders.
Name of Selling
Stockholder
Shares
Beneficially
Owned prior to
Offering
Percentage
Beneficially
Owned prior to
Offering
Shares to Offer
Shares
Beneficially
Owned after
Offering
Percentage
Beneficially
Owned After
Offering
Strategic Tactical Asset Trading LLC
200,000
*
200,000
-
-
Delaney Equity Group, LLC
300,000
*
300,000
ChunJing Liu
1,000
*
1,000
-
-
Dorothy & John Messina
10,000
*
10,000
-
-
Yolo Watersports (1)
500
*
500
-
-
Jim Shephard
500
*
500
-
-
Monica Thompson
500
*
500
-
-
Juan Yang
500
*
500
-
-
Cardinal Advisors, LLC
1,500,000
6.66
%
1,500,000
-
-
Nicolaos Papantonatos Jennifer Papantonatos
1,500
*
1,500
-
-
Larry Buffington
500
*
500
-
-
Fantasea Scooter (2)
2,500
*
2,500
-
-
Melissa Sternberg
500
*
500
-
-
Peter & Denise Papatanatos
2,500
*
2,500
-
-
Peter Papatanatos
8,250
*
8,250
-
-
Edith Guggenheim
25,000
*
25,000
-
-
Antony Livoti
2,500
*
2,500
-
-
Esperanza Trespalacios
2,500
*
2,500
-
-
Paul Livoti
5,000
*
5,000
-
-
Susan Doyle
5,000
*
5,000
-
-
Marcie Schoenheit
500
*
500
-
-
Elizabeth Devine
500
*
500
-
-
JRY3 Enterprises Inc. (3)
2,500
*
2,500
-
-
Robert Parris
2,500
*
2,500
-
-
Dennis Papatanatos
5,000
*
5,000
-
-
Christopher Conlon
500
*
500
-
-
Joseph Kevin Conlon
425,000
*
425,000
-
-
Tito Cruz
500
*
500
-
-
Robert Bidlack
500
*
500
-
-
Tom Welby
500
*
500
-
-
George Delisle
500
*
500
-
-
Ellen Schnell
500
*
500
-
-
Christopher Weekes
500
*
500
-
-
Raquel Roth
500
*
500
-
-
Craig Fischer
500
*
500
-
-
Alejandra Diaz
500
*
500
-
-
Shawn McNamara
500
*
500
-
-
Alasdair Robert Clements
1,250
*
1,250
-
-
Kozma Gjikuria
2,500
*
2,500
-
-
Petrag Gjikuria
2,500
*
2,500
-
-
Total
2,516,500
2,516,500
*Less than 1%—
-
(1)
Marcel Ventura is the principal of Yolo Watersports and has investment control of the shares of our common stock.
(2)
Steve Fontana is the principal of Fantasea Scooter and has investment control of the shares of our common stock.
(3)
John R. Yeager, III is the principal of JRY 3 Enterprises Inc. and has investment control of the shares of our common stock.
(4)
This amount includes 600,000 shares that have not yet vested.
There are no agreements between the Company
and any selling shareholder pursuant to which the shares subject to this registration statement were issued.
To our knowledge, none of the selling shareholders
or their beneficial owners:
–
has ever been one of our officers or directors or an officer or director of our predecessors or affiliates; or
–
are broker-dealers or affiliated with broker-dealers.
7
PLAN OF DISTRIBUTION
The selling security holders may sell some
or all of their shares at a fixed price of $0.20 per share until our shares are quoted on the OTCBB and thereafter at prevailing
market prices or privately negotiated prices. Prior to being quoted on the OTC Bulletin Board, shareholders may sell their shares
in private transactions to other individuals. Although our common stock is not listed on a public exchange, we will be filing
to obtain a listing on the OTCBB concurrently with the filing of this prospectus. In order to be quoted on the OTC Bulletin Board,
a market maker must file an application on our behalf in order to make a market for our common stock. There can be no assurance
that a market maker will agree to file the necessary documents with FINRA, which operates the OTC Bulletin Board, nor can there
be any assurance that such an application for quotation will be approved. However, sales by selling security holder must be made
at the fixed price of $0.20 until a market develops for the stock.
Once a market has developed for our common
stock, the shares may be sold or distributed from time to time by the selling stockholders, who may be deemed to be underwriters,
directly to one or more purchasers or through brokers or dealers who act solely as agents, at market prices prevailing at the time
of sale, at prices related to such prevailing market prices, at negotiated prices or at fixed prices, which may be changed. The
distribution of the shares may be effected in one or more of the following methods:
●
ordinary brokers transactions, which may include long or short sales,
●
transactions involving cross or block trades on any securities or market where our common stock
is trading, market where our common stock is trading,
●
through direct sales to purchasers or sales effected through agents,
●
through transactions in options, swaps or other derivatives (whether exchange listed of otherwise),
or exchange listed or otherwise), or
●
any combination of the foregoing.
In addition, the selling stockholders may
enter into hedging transactions with broker-dealers who may engage in short sales, if short sales were permitted, of shares in
the course of hedging the positions they assume with the selling stockholders. The selling stockholders may also enter into option
or other transactions with broker-dealers that require the delivery by such broker-dealers of the shares, which shares may be resold
thereafter pursuant to this prospectus. To our best knowledge, none of the selling security holders are broker-dealers or affiliates
of broker dealers.
We will advise the selling security holders
that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the market and to the activities
of the selling security holders and their affiliates. In addition, we will make copies of this prospectus (as it may be supplemented
or amended from time to time) available to the selling security holders for the purpose of satisfying the prospectus delivery requirements
of the Securities Act. The selling security holders may indemnify any broker-dealer that participates in transactions involving
the sale of the shares against certain liabilities, including liabilities arising under the Securities Act.
Brokers, dealers, or agents participating
in the distribution of the shares may receive compensation in the form of discounts, concessions or commissions from the selling
stockholders and/or the purchasers of shares for whom such broker-dealers may act as agent or to whom they may sell as principal,
or both (which compensation as to a particular broker-dealer may be in excess of customary commissions). Neither the selling stockholders
nor we can presently estimate the amount of such compensation. We know of no existing arrangements between the selling stockholders
and any other stockholder, broker, dealer or agent relating to the sale or distribution of the shares. We will not receive any
proceeds from the sale of the shares of the selling security holders pursuant to this prospectus. We have agreed to bear the
expenses of the registration of the shares, including legal and accounting fees, and such expenses are estimated to be approximately
$50,000.
Notwithstanding anything set forth herein,
no FINRA member will charge commissions that exceed 8% of the total proceeds of the offering.
8
DESCRIPTION OF SECURITIES
Authorized Capital Stock
Our authorized share capital consists of
100,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per
share. As of January 7, 2013, an aggregate of 22,516,500 shares of common stock and no shares of preferred stock were issued and
outstanding.
Common Stock
All outstanding shares of common stock
are of the same class and have equal rights and attributes. The holders of common stock are entitled to one vote per share on all
matters submitted to a vote of stockholders of the Company. All stockholders are entitled to share equally in dividends, if any,
as may be declared from time to time by the Board of Directors out of funds legally available. In the event of liquidation, the
holders of common stock are entitled to share ratably in all assets remaining after payment of all liabilities. The stockholders
do not have cumulative or preemptive rights.
Preferred Stock
Our Articles of Incorporation authorizes
the issuance of up to 10,000,000 shares of blank check preferred stock with designations, rights and preferences determined from
time to time by its Board of Directors (the "Preferred Stock"). Accordingly, our Board of Directors is empowered, without
stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely
affect the voting power or other rights of the holders of the common stock. In the event of issuance, the Preferred Stock could
be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company.
As of the date of this Memorandum, the Company has not issued any shares of Preferred Stock and it does not currently have any
plans to issues shares of Preferred Stock.
Warrants
There are no outstanding warrants to purchase
our securities.
Options
There are no outstanding options to purchase our securities.
Transfer Agent and Registrar
Currently we do not have a stock transfer agent.  However,
upon filing this Registration Statement, we do intend to engage a transfer agent to issue physical certificates to our shareholders.
9
INTEREST OF NAMED EXPERTS AND COUNSEL
No expert or counsel named in this prospectus
as having prepared or certified any part of this prospectus or having given an opinion upon the validity of the securities being
registered or upon other legal matters in connection with the registration or offering of the common stock was employed on a contingency
basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the registrant
or any of its parents or subsidiaries. Nor was any such person connected with the registrant or any of its parents or subsidiaries
as a promoter, managing or principal underwriter, voting trustee, director, officer, or employee.
Anslow & Jaclin, LLP located at 195
Route 9 South, Suite 204, Manalapan, NJ 07726 will pass on the validity of the common stock being offered pursuant to this
registration statement.
The financial statements as of December
31, 2011 included in this prospectus and the registration statement have been audited by Lake & Associates, CPA's 20283
State Road #7 Suite 300, Boca Raton, FL 33498, an independent registered public accounting firm, to the extent and for the periods
set forth in their report appearing elsewhere herein and in the registration statement, and are included in reliance upon such
report given upon the authority of said firm as experts in auditing and accounting.
DESCRIPTION OF BUSINESS
Overview
Panther Motor Group Inc., a Nevada
corporation ("we", "us", "our", or the "Company"), was formed on May 31,
2012. Through our wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated on August 11,
2004 ("Panther Motors" or "Panther"), we manufacture and provide service to economical and unique
personal transport vehicles. Our current product is a personal transport vehicle known by the trademarked name ScootCoupe. It
is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed throughout the United States via fleet
sales to commercial users and direct sales to retail consumers. We also provide part and technical services to our customer
base as part of our core business. We derive 80 percent of our revenue from our 40 fleet customers in the form of vehicle and
part sales, and the remaining 20 percent of revenue is derived from direct sales and parts to retail customers.
On June 1, 2012, we entered into a Share
Exchange Agreement (the "Share Exchange Agreement") with Panther Motors, and all of the shareholders of Panther Motors
(the "Panther Motors Shareholders"), pursuant to which, we acquired 100% of the issued and outstanding securities of
Panther Motors and, in exchange, the Panther Motors Shareholders received 10,000,000 shares of our common stock representing approximately
100% of the issued and outstanding securities of the Company on a fully diluted basis as of the closing date of the Share Exchange
Agreement.
On January 5, 2013, the Company effected
a 2 for 1 forward stock split of our common stock. As a result, the Company's common stock has a price per share of $0.20
and the amount of outstanding common stock increased.
Products and Markets
Panther Motors currently manufactures and
services the ScootCoupe, which is marketed in three engine displacements, 49cc, 125cc and 150cc, and distributed throughout the
United States via fleet sales to commercial users and direct sales to retail consumers. We do not have any agreements in place
with these commercial users. Panther Motors also provides part and technical services to its customer base as part of its core
business.
Panther Motors designed and constructed
the ScootCoupe to be conducive as a resort destination rental vehicle. As a result of its heavy duty, commercial grade construction,
it has become a very popular and durable vehicle within the rental industry, particularly at popular resorts and vacation destinations.
We derive eighty percent (80%) of our revenue
from our forty (40) fleet customers in form of vehicle and part sales, with the remaining twenty percent (20%) of revenue being
derived from direct sales and parts to retail users. The P150 model (with a 150 cc engine) is the more popular model in the retail
sector given its extra power and speed capability. Retail sales have grown in each of the last two (2) years as the product has
gained more exposure.
P150Model
The P150 is equipped with a 150cc engine,
has a top speed of approximately 55 miles per hour and has a retail value of $6987. It is the most popular ScootCoupe model with
retail end users and with rental fleets in jurisdictions where it is allowed to be operated with a regular driver's license.
It is, and is expected to remain, powered by our homegrown Panther drivetrain.
P125 Model
Popular with Rental Fleets in jurisdictions
where it is permissible to operate with a regular driver's license. The P125 has a 125cc engine, top speed of 45mph and retail
value of $6795. As we expand to Europe, we expect this model to be our most popular model in EU nations going forward. It is, and
is expected to remain, powered by our homegrown Panther drivetrain.
10
49cc Model/P50 Model
Beginning in model year 2013, our 49cc
Model will be renamed the P50 model. Our 49cc/P50 model is very popular with rental companies located in jurisdictions which allow
it to be driven with a regular driver's license. The P50 ScootCoupe cannot be sold in California but may be driven in all
other jurisdictions within the United States. It is our most popular model with rental fleets in those locations where the P150
or P125 cannot be driven without a motorcycle endorsement. The 2013 P50 will be powered by the Piaggio (Vespa) 4T-4V 49cc engine
and electronics package. This model has undergone a major redesign in 2012 to ensure its compliance with global standards for mopeds.
We expect it to be a major seller in both domestic and foreign resort markets going forward. The 2013 P50 is anticipated to be
released in October 2012.
Construction
Our core product, the ScootCoupe Motorcycle,
is designed and assembled in the USA. Panther Motors owns all molds and jigs associated with their construction from raw materials.
We employ a subcontractor to manufacture frame and body assemblies and then ship them to our Tamarac facility for final assembly
and manufacturing.
Engines used in our products are produced
by OEM contractors to specifications set forth by Panther Motors. Our 125cc and 150cc engines are manufactured by a leading engine
manufacturer located in mainland China. Another leading engine manufacturer located in Italy manufacturers the engines used in
our 49cc model. Lighting and brake components are purchased through leading global manufacturing specialists servicing the motorcycle
industry. These engines are imported to our Tamarac facility where they are installed into our final products.
The completed ScootCoupe is manufactured
in our Tamarac facility, where a unique 17 digit Vehicle Identification Number is assigned to each completed vehicle. The final
products are compliant with all EPA ( Environmental Protection Agency) and NHTSA ( National Highway Traffic and Safety Administration)
requirements for on road motorcycles.
Sources and Availability of Raw Materials
Raw materials such as bulk steel, fiberglass,
and resin materials are purchased by our body assembly OEM and incorporated into the contract price. The contract price varies
upon the quantity and speed of delivery dictated by a particular contract. Director Jinxiang Liu negotiates contracts on an annual
basis and we enjoy an amicable relationship with our contractors.
Various other OEM contracts for our essential
components are negotiated by director Jinxiang Liu on an annual or semi-annual basis.
In our seven-year history, we have never
encountered a shortage or lack of availability for our essential raw materials or components.
Distribution
All ScootCoupe products are distributed
from the Tamarac, Florida facility directly to resort rental fleets and many retail customers. Bulk fleet purchases are shipped
via national truckload providers and smaller orders are crated and shipped via national LTL ("Less than Truckload")
Solution providers. In some cases individual retail orders are distributed via auto transport networks. Sales are generated via
personal visits to resort rental companies or via telephone and internet leads originating from referrals and our company website.
These leads are generated via our website and referrals from current customers
In May 2012, Panther Motors entered into
an agreement with Trigger California ("GoCAR"), an affiliate of GoCAR Franchising Inc., of San Francisco, California
to produce a Special Edition ScootCoupe to be named GoCAR, which will be used exclusively in GoCAR's rental fleets currently
operating in San Francisco, San Diego, Miami Beach, Barcelona, Spain and Lisbon, Portugal. The GoCAR will be produced exclusively
in School Bus Yellow to differentiate it from ScootCoupe vehicles produced for other fleet customers.
Seasonality of Business
The core resort customer base of Panther
Motors is well diversified regionally throughout the U.S. and we experience a predictable order flow throughout the year with spring
and summer being our most active seasons. Order flow in autumn tends to slow with the exception of Caribbean and Florida orders,
which accelerate into the Christmas holiday tourist season. Retail sales of vehicles and parts are most active in spring and summer
seasons.
Research and Development
Since our inception in 2004, Panther Motors
has been extremely active in enhancing and refreshing the ScootCoupe product. We made significant design updates in 2007, 2009
and now again in 2012. Each generation of product continues to improve and exceed the expectations of our customer base.
11
Panther Motors began a major refresh of
the core 49cc ScootCoupe in 2011 to meet new vehicle standards for both the United States and European Union. This refresh included
designing new framing components to accommodate new engine technology. The new P50 model will incorporate a 49cc, 4 valve, 4 stroke
engine manufactured by Piaggio, a major Italian manufacturer of scooters, including Vespa. This Piaggio engine is only available
in Piaggio and ScootCoupe products. In addition, investments were made to integrate a new brake system design and state of the
art emissions equipment. The result will be a 125 mpg moped-class personal transport vehicle which emits less than 10 percent of
permissible emissions. This 2013 P50 will be available to the U.S. market by October of 2012 and will be one of the most environmentally
friendly vehicles ever introduced to the marketplace. Panther Motors achieved this benchmark with a total investment of $480,000.
Panther Motors plans to market this Green vehicle as a neighborhood vehicle to gated communities around the nation as an alternative
to golf carts which are commonly used. The major advantage of the P50 is that it can be used on roadways outside the community
whereas the golf carts may not. Priced comparably to golf cart at $6599, the P50 will allow its users the freedom of leaving the
gated community for shopping and recreational jaunts. It can also be driven with a regular driver's license making it usable
by virtually everyone.
While preparing the P50 for the global
market, Panther Motors also incorporated the same lighting, glazing, body and seatbelt changes into the P125 and P150 models for
2013. These changes include lighting, seatbelt components, windscreen, and body materials that meet or exceed all current EU and
US DOT safety standards. The 2013 P125 and P150 were approved for sale in the U.S market in July 2012 and are currently available.
Panther Motors expects the P125 will be a core model for future European rental fleets upon final approval by the EU. Panther Motors
has invested $125,000 into the P150 refresh and the P125.
In calendar 2013, Panther Motors plans
to refresh the P150 and P125 electrical systems, engine casings and output shafts to eliminate the possibility of any aftermarket
parts being used in these vehicles. The result of this redesign is that all future components of our products will have to be purchased
directly through Panther Motors. Panther is budgeting $150,000 for this initiative.
Marketing
Panther Motors has been able to distribute
its annual production consistently without any major marketing campaigns. The ScootCoupe vehicles were first introduced in September,
2005 in the Deerfield Beach, Fort Lauderdale and Key West rental operations of Dominick Livoti, co-founder of Panther Motors. Other
rental companies placed orders to add them to their rental fleets of bicycles and scooters. At the end of 2006, fleets existed
as far west as Honolulu, Hawaii and north to Newport Rhode Island. Panther Motors exhibited its products at the Dealer Expo in
2007 and 2008 to increase awareness of the ScootCoupe line. Throughout the years, additional fleet owners have turned to the ScootCoupe
as a profitable addition to their rental companies. This word of mouth, organic growth has consumed nearly all of the annual production
capabilities of Panther Motors. Today, Panther Motors has relationships with over 40 rental fleets from coast to coast.
In an attempt to maintain public awareness
of the ScootCoupe, Panther Motors maintains a relationship with CBS where the ScootCoupe is offered as a prize on the well-known
television show "The Price Is Right" with Drew Carey.
Looking ahead, Panther plans to attend
a European Dealer Expo in 2013 and initiate a road tour to resort rental companies throughout Europe to jump start fleet sales
in this region. We anticipate selling all available 2013 product during this road show. In addition, Panther holds many solid inquiries
from established operators in Europe, Australia and Canada waiting for available product. Not until Panther Motors has financial
capabilities to produce in excess of 500 units per annum will it need to embark on traditional advertising venues to sell its products.
Government Regulation
As a manufacturer of on road motorcycles,
we are regulated by the NHTSA (National Highway Traffic Safety Agency) and the EPA. U.S. federal regulations require that we produce
our vehicles to all current Federal Safety Standards and EPA emissions guidelines. We carefully review all new regulations and
safety standards and integrate them into design changes, and the Company interacts with test labs and industry consultants to ensure
and certify compliance.
We certify each model year vehicle through
an application of test data to the EPA on an annual basis. Proposed changes to the EPA standards are published up to a year in
advance so there is always ample time to adjust our products to ensure compliance. In addition, we retain a specialty law firm
to keep us advised of any running changes in EPA guidelines.
NHTSA governs the compliance of Federal
Safety Standards for Motorcycles and Panther Motors takes every possible measure to ensure compliance. Our long-standing relationship
with one of the nation's most respected test labs ensures that our vehicles and their core components exceed all federal
safety standards in effect at the time of manufacture.
As we anticipate expanding our product
line globally, we will encounter regulatory compliance and confirmatory testing requirements for other countries and regions. U.S.
regulations are generally much more stringent than other nations with respect to safety, emission, and various other standards.
Accordingly, many nations accept the U.S. Standards with a simple confirmatory inspection. However, the European Union requires
extensive retesting of vehicles to their unique test procedures. Despite a variance in the procedure of the tests, we are confident
the results will be the same and the ScootCoupe will be certified in due course, allowing us to sell our products in 22 EU nations.
We have submitted samples to approved labs for preliminary testing and guidance and been advised of our compliance with existing
ADR's. We believe these core products will be available globally by summer of 2013, however we cannot make any assurance
that we will be successful in accessing the global markets.
12
Competition
Globally, one other manufacturer produces
a similar type three wheel side-by-side personal vehicle. Fox Industries of the Netherlands produces a small number of these vehicles
known as the Trigger Scootercar. Their largest global customer, Trigger California, has entered into a five-year agreement to purchase
Panther ScootCoupes for use in all their franchise operations.
At this time, Panther Motors knows of no
other manufacturer constructing or planning to construct a similar vehicle which will compete in our core market sector of travel
and tourism.
Intellectual Property
The U.S. federal trademark "ScootCoupe"
is owned by Panther Motors and we have developed proprietary components and molds unique to the ScootCoupe vehicle. We own and
hold these unique molds and components, which include, but are not limited to engine mounting framework and suspension, front end
hubs and assemblies, body molds, rim molds, throttle cables, brake systems, LED lighting, glazing, roll bars, suspension parts,
steering shafts, engine casings, output shafts and electrical wiring harness.
We do not operate any franchised locations
but do intend to license the rental use of our products as part of our forward-looking business strategy. Selected operators will
be charged an annual fee for the use of our marks in the course of their rental business.
Environmental Issues
At time of this writing, we have no environmental
issues relating to our products in the United States. We are not aware of any environmental issues in any other nation or territory
and have not received any notices of inquiry from any environmental agency domestic or abroad.
Employees
We currently have two employees, Dominick
Livoti Jr and Jinxiang Liu. Other essential services such as assembly, shipping, bookkeeping, accounting, industry consulting and
product testing are conducted by outsourced domestic private contractors and professionals.
DESCRIPTION OF PROPERTY
Our principal executive office is located at 10358 West McNab
Road, Tamarac, Florida, 33321, and our telephone number is 954-682-3693.  Pursuant to an oral agreement, we lease our
office space on a month-to-month basis from our Vice President, Jinxiang Liu for $3,700 per month.
LEGAL PROCEEDINGS
From time to time, we may become involved
in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent
uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently
not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial
condition or operating results.
MARKET FOR COMMON EQUITY AND RELATED
STOCKHOLDER MATTERS
There is presently no public market for
our shares of common stock. We anticipate applying for quoting of our common stock on the OTCBB upon the effectiveness of the registration
statement of which this prospectus forms apart. However, we can provide no assurance that our shares of common stock will be quoted
on the OTCBB or, if quoted, that a public market will materialize.
Holders of Capital Stock
As of the date of this registration statement,
we had 42 holders of our common stock.
Rule 144 Shares
As of the date of this registration statement,
we do not have any shares of our common stock that are currently available for sale to the public in accordance with the volume
and trading limitations of Rule 144.
Stock Option Grants
We currently have not issued any stock
options.
13
CONSOLIDATED BALANCE SHEETS
As of September 30, 2012 and
December 31, 2011
September
30,
December
31,
2012
2011
ASSETS
Current Assets
Cash
$
30,297
$
177,897
Accounts Receivable (Net of Allowance for Doubtful Accounts of $603 and $5,048, Respectively)
11,451
81,699
Inventory
536,237
464,078
Deposits with Suppliers
88,092
0
Total Current Assets
666,077
723,674
Property and Equipment, net
320,387
362,671
TOTAL ASSETS
$
986,464
$
1,086,345
LIABILITIES
Accounts Payable and Accrued Liabilities
$
30,376
$
114,368
Customer Deposits
8,000
44,792
Note Payable
85,000
75,000
Line of Credit
136,996
150,000
Total Current Liabilities
$
260,372
$
384,160
Related Party Loan Payable
390,853
200,853
Other Related Party Loan Payable
15,000
15,000
Total Liabilities
$
666,225
$
600,013
STOCKHOLDERS' EQUITY
Common stock (Par value $0.001,  100,000,000 shares authorized, 10,012,500 issued and outstanding
as of September 30, 2012; 100,000,000 shares authorized, 10,000,000 issued and outstanding as of December 31, 2011.)
10,013
10,000
Additional Paid-in Capital
517,987
508,010
Accumulated Deficit
(207,761
)
(31,678
)
Total Stockholders' Equity
320,239
486,332
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
986,464
$
1,086,345
See notes to financial statements.
14
PANTHER MOTOR GROUP INC
CONSOLIDATED STATEMENTS OF OPERATIONS
For the
three
For the
three
For the
nine
For the
nine
months
ended
months
ended
months
ended
months
ended
Sep 30,
2012
Sep 30,
2011
Sep 30,
2012
Sep 30,
2011
Sales
$
101,394
$
148,876
$
512,209
$
601,642
Cost of Goods Sold
45,706
93,450
284,714
386,679
Gross Profit
55,688
55,426
227,495
214,963
Operating Expenses
General and Administrative
47,895
58,020
207,266
165,536
Depreciation and Amortization
14,095
-
42,284
30,000
Total Operating Expense
61,990
58,020
249,550
195,536
Operating Income (Loss)
(6,302
)
(2,594
)
(22,055
)
19,427
Other Income and Expense
Interest Expense
6,142
2,142
13,755
6,383
Total Other Income and Expense
6,142
2,142
13,755
6,383
Net Income (Loss)
$
(12,444
)
$
(4,736
)
$
(35,810
)
$
13,044
Weighted average common shares outstanding:
10,003,804
10,000,000
10,001,277
10,000,000
Earnings Per Share
$
-
$
-
$
-
$
-
See notes to financial statements.
15
PANTHER MOTOR GROUP INC
CONSOLIDATED STATEMENTS OF
CASH FLOWS
Nine Months Ended September
30,
2012
2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)
$
(35,810
)
$
13,044
Adjustments to reconcile net loss to cash used in operating activities
Depreciation and amortization
42,284
30,000
Recovery of bad debt
(4,445
)
0
Issuance of founders' stock
5,000
Changes in Assets and Liabilities
Accounts Receivable
74,693
25,224
Inventory
(72,158
)
(12,527
)
Deposits with suppliers
(88,092
)
-
Accounts Payable and accrued expenses
(83,992
)
(935
)
Customer Deposits
(36,792
)
-
Net cash provided by operating activities
(199,312
)
54,806
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of assets
-
(28,895
)
Net cash used for investing activities
-
(28,895
)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party loans
190,000
-
Proceeds from stock issuance
5,000
-
Repayment of bank line of credit
(13,004
)
-
Distributions to shareholders
(140,284
)
(10,000
)
Loan proceeds
10,000
-
Net cash provided by (used for) financing activities
51,712
(10,000
)
NET CHANGE IN CASH
(147,600
)
15,911
CASH AT BEGINNING OF PERIOD
177,897
20,124
CASH AT END OF PERIOD
$
30,297
$
36,035
Supplemental Disclosure:
Interest Paid
$
10,005
$
Stock issued for services
5,000
See notes to financial statements.
16
PANTHER MOTOR GROUP INC AND SUBSIDIARY
NOTES TO CONSOLIDATED CONDENSED FINANCIAL
STATEMENTS
SEPTEMBER 30, 2012
NOTE 1 – CONDENSED FINANCIAL STATEMENTS
The accompanying interim financial statements have been prepared
by management without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments)
necessary to present fairly the financial position, results of operations, and cash flows as of and for the period ended September
30, 2012, and for all periods presented herein, have been made.
Certain information and footnote disclosures normally included
in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have
been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial
statements and notes thereto included in the Panther Motors, Inc.'s. December 31, 2011 audited financial statements.  The
results of operations for the periods ended September 30, 2012 and September 30, 2011 are not necessarily indicative of the operating
results for the full years.
Share Exchange
On June 1, 2012, Panther Motor Group, Inc. (legal acquiror,
and accounting acquiree) acquired all outstanding stock of Panther Motors Inc. (legal acquiree and accounting acquiror). 100,000
shares of Panther Motors Group, Inc. were exchanged for each of 100 shares of Panther Motors Inc. As a result the shares outstanding
increased from 100 to 10,000,000 for the combined entity as of the date of the share exchange. (See Note 2)
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
The accounting policies applied in these condensed interim financial
statements are the same as those applied by the Panther Motors Inc. in its audited consolidated financial statements as at and
for the year ended December 31, 2011.
Share Exchange Accounting
We have accounted for this transaction as a reverse merger and
the financial statements reported herein have been adjusted to reflect the combined results of operations and cash flows as if
the share exchange had taken place at the beginning of the period being reported on.
NOTE 3 –  NOTES PAYABLE
The Company has evaluated events and transactions subsequent
to the audited financial statements dated December 30, 2012. The following events occurred:
Related Party Notes Payable
On January 31, 2012 and February 15, 2012, shareholder and officer,
Dominick Livoti lent Panther Motors, Inc. $80,000 and $25,000 respectively. The loans were documented with Promissory Notes
that mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the note holder.
The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.
On February 9, 2012 and February 24, 2012, shareholder and officer,
Jinxiang Liu lent Panther Motors, Inc. $60,367 and $25,000 respectively. The loans were documented with promissory notes that
mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the note holder.
The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.
17
PANTHER MOTOR GROUP INC AND SUBSIDIARY
NOTES TO CONSOLIDATED CONDENSED FINANCIAL
STATEMENTS
SEPTEMBER 30, 2012
Note Payable
On January 24, 2012 the Panther Motors, Inc. received an additional
$10,000 loan from Kevin Conlon, who had previously loaned Panther Motors Inc. $75,000 under a promissory note secured by inventory
of the Company. The $10,000 tranche was received without a promissory note and there are no written repayment terms.
NOTE 4 – CHANGE IN CORPORATE TAX STATUS
In anticipation of an S1 filing to become a public company,
the Company is seeking to change its tax status from an S-Corp to a C-Corp. The Company did not yet make the election but plans
to do so previous to March 15, 2013.
NOTE 5 – PRIVATE PLACEMENT
In the third quarter of 2012, Panther Motor
Group, Inc. executed a private offering of 2,500,000 shares at $0.40 per share. One investor invested $5,000 through this offering
for the three months ended September 30, 2012.
NOTE 6 –
SUBSEQUENT
EVENTS
On December 15, 2012, the Company issued a promissory note in
the principal amount of $25,000 to Fun Rentals Inc. The notes mature on 12/31/2012 and are automatically renewable unless given
30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the Company and call for 0.25%
interest on the outstanding loan amount to be paid monthly. Our CEO, Dominick Livoti, Jr., has voting control over Fun Rentals
Inc.
18
PANTHER MOTOR GROUP INC AND SUBSIDIARY
BALANCE SHEETS
As of December 31, 2011 and 2010
December
31,
December
31,
2011
2010
ASSETS
Current Assets
Cash
$
177,897
$
20,124
Accounts Receivable (Net of Allowance for Doubtful Accounts of $5,048 and $4,665, Respectively)
81,699
88,630
Inventory
464,078
436,136
Total Current Assets
723,674
544,890
Property and Equipment, net
362,671
393,118
TOTAL ASSETS
$
1,086,345
$
938,008
LIABILITIES
Accounts Payable and Accrued Liabilities
$
114,368
$
60,683
Customer Deposits
44,792
0
Note Payable
75,000
0
Line of Credit
150,000
150,000
Total Current Liabilities
$
384,160
$
210,683
Related Party Loan Payable
200,853
200,853
Other Related Party Loan Payable
15,000
15,000
Total Liabilities
$
600,013
$
426,536
STOCKHOLDERS' EQUITY
Common stock (Par value $0.001,  100,000,000 shares authorized, 10,000,000 issued and outstanding
as of as of December 31, 2011 and December 31, 2010.)
10,000
10,000
Additional Paid-in Capital
508,010
508,010
Accumulated Deficit
(31,678
)
(6,538
)
Total Stockholders' Equity
486,332
511,472
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
1,086,345
$
938,008
See notes to financial statements.
19
PANTHER MOTOR GROUP INC AND
SUBSIDIARY
STATEMENTS OF OPERATIONS
Years Ended December 31, 2011
and 2010
2011
2010
Sales
$
764,224
$
758,998
Cost of Goods Sold
499,012
537,241
Gross Profit
265,212
221,757
Operating Expenses
General and Administrative
217,115
168,799
Depreciation and Amortization
54,733
53,087
Total Operating Expense
271,848
221,887
Operating Income (Loss)
(6,636
)
(130
)
Other Income and Expense
Interest Expense
8,504
8,954
Total Other Income and Expense
8,504
8,954
Net Income (Loss)
$
(15,140
)
$
(9,084
)
Weighted average common shares outstanding : 100
See notes to financial statements.
20
PANTHER MOTOR GROUP INC AND SUBSIDIARY
STATEMENTS OF CHANGES IN STOCKHOLDERS'
EQUITY
Years Ended December 31, 2011 and 2010
Common Stock
Additional
Paid-In
Accumulated
Total
Stockholders
Shares
Amount
Capital
Deficit
Equity
Balance at December 31, 2009
100
$
10
$
518,000
$
49,611
$
567,621
To eliminate all common stock of
Panther Motors Inc. prior to reverse
merger on June 1, 2012
(100
)
(10
)
(10
)
To record issuance of founders' shares
5,000,000
5,000
(5,000
)
-
To record issuance of stock in connection to reverse merger
5,000,000
5,000
(4,990
)
10
Distribution to Shareholder
(47,065
)
(47,065
)
Net Loss
(9,084
)
(9,084
)
10,000,000
$
10,000
$
508,010
$
(6,538
)
$
511,472
Balance at December 31, 2010
Distribution to Shareholder
(10,000
)
(10,000
)
Net Income
$
$
$
(15,140
)
(15,140
)
10,000,000
$
10,000
$
508,010
$
(31,678
)
$
486,332
Balance at December 31, 2011
See notes to financial statements.
21
PANTHER MOTOR GROUP INC. AND
SUBSIDIARY
STATEMENTS OF CASH FLOWS
Years Ended December 31, 2011
and 2010
2011
2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)
$
(15,140
)
$
(9,084
)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation and Amortization
54,733
53,087
Provision for Bad Debts
383
4,665
Noncash Distribution to Shareholder
-
(47,065
)
Changes in Assets and Liabilities
Accounts Receivable
6,549
(73,722
)
Inventory
(27,943
)
151,743
Accounts Payable
53,685
(161,015
)
Customer Deposits
44,792
-
Net cash provided by operating activities
117,059
(81,391
)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Assets
(24,286
)
(772
)
Net cash used for investing activities
(24,286
)
(772
)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds From Related Party Loan
-
69,000
Repayment of Other Related Party Loan
-
(10,000
)
Distribution to Shareholder
(10,000
)
-
Loan Proceeds
75,000
-
Net cash provided by (used for) financing activities
65,000
59,000
NET CHANGE IN CASH
157,773
41,788
CASH AT BEGINNING OF PERIOD
20,124
43,286
CASH AT END OF PERIOD
$
177,897
$
20,124
Supplemental Disclosure:
Interest Paid
$
8,504
$
8,954
See notes to financial statements.
22
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
1.
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
                                                                 POLICIES
Nature of Business
Panther Motor Group, Inc. is a Nevada C-Corp that was formed
on May 31, 2012. On June 1, 2012, Panther Motor Group, Inc. (Legal Acquiror, Accounting Acquiree) purchased Panther Motors, Inc.
(Legal Acquiree, Accounting Acquiror). Panther Motors Inc., is a Florida based designer and manufacturer of a three-wheeled, two-seat,
scooter known as
The ScootCoupe
.  The Company has sold over 1,000 vehicles since its inception in 2004 and currently
services 43 rental fleets throughout the United States.
Basis of Presentation
The financial statements and accompanying notes are prepared
in accordance with accounting principles generally accepted in the United States of America. The above transaction was recorded
as reverse recapitalization and the financial statements presented herein, have been presented as if the merger had occurred at
the beginning of the period being reported on.
A summary of the significant accounting policies consistently
applied in the preparation of the accompanying consolidated condensed financial statements is as follows:
Management's Use of Estimates and Assumptions
The preparation of the consolidated financial statements in
conformity with generally accepted accounting principles in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of the assets and liabilities, disclosure of contingent assets and liabilities
at the date of the consolidated condensed financial statements, and the reported amounts of revenue and expense during the reporting
periods.   Actual results may differ from those estimates and assumptions.
Reclassifications
Certain amounts reported in previous period have been reclassified
to conform to the Company's current period presentation.
Concentration of Credit Risk
Financial instruments and related items, which potentially
subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents.  The Company places
its cash and temporary cash investments with credit quality institutions. At times, such investments may be in excess of FDIC
insurance limits. Management considers this to be an acceptable business risk.
Cash and Cash Equivalents
For the purposes of the Statement of Cash Flows, the Company
considers liquid investments with an original maturity of three months or less to be cash equivalents.
Accounts Receivable
The Company extends credit to customers without requiring collateral.  The
Company uses the allowance method to provide for doubtful accounts based on management's evaluations of the collectability
of accounts receivable.  Management's evaluation is based on the Company's historical collection experience
and a review of past-due amounts.  Based on management's evaluation of collectability, there is a $5,048 and $4,664
allowance for doubtful accounts as of December 31, 2011 and 2010 respectively.  During the year ended December 31, 2011
and 2010, the Company wrote off $0 and $0, respectively, as uncollectible accounts receivables. The Company determines accounts
receivable to be delinquent when past due agreed upon terms.  Accounts receivable are written off when it is determined
that amounts are uncollectible.
23
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
Inventory
Inventory, consisting of finished goods and parts held for
resale, are stated at the lower of cost or market.  Cost is determined using the specific identification method.  At
December 31, 2011 and December 31, 2010, there was no allowance for obsolete inventory deemed necessary based on management's
estimate of the realizability of the inventory.
Property and Equipment
Property and equipment is stated at cost.  Depreciation
and amortization expense is computed using the straight-line method over the estimated useful life of the related assets ranging
from 7 to 10 years. When assets are sold or retired, their costs and accumulated depreciation are eliminated from the accounts
and any gain or loss resulting from their disposal is included in the statement of operations.
The Company recognizes an impairment loss on property and equipment
when evidence, such as the sum of expected future cash flows (undiscounted and without interest charges), indicates that future
operations will not produce sufficient revenue to cover the related future costs, including depreciation, and when the carrying
amount of the asset cannot be realized through sale. Measurement of the impairment loss is based on the fair value of the assets.
Impairment of Long-Lived Assets
The Company assesses long-lived assets, such as property and
equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset group may not be fully recoverable. Recoverability of asset groups to be held and
used in measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected
to be generated by the asset group.  If the carrying amount exceeds its estimated future cash flows, an impairment charge
is recognized by the amount by which the carrying amount of an asset group exceeds the fair value of the asset group. The Company
evaluated its long-lived assets and no impairment charges were recorded for any of the periods presented.
Revenue Recognition
The Company recognizes revenue based on Account Standards Codification
("ASC") 605 "Revenue Recognition"
which contains Securities and Exchange Commission Staff Accounting
Bulletin No. 101, "Revenue Recognition in Financial Statements' and No. 104, "Revenue Recognition".
In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists,
shipment has occurred, price is fixed or determinable and collectability of the resulting receivable is reasonably assured.  The
Company had sales of $764,224 and $758,998 in revenue for the year ended December 31, 2011 and 2010, respectively.
Shipping and Handling Costs
The Company includes its outbound shipping and handling costs
in General and Administrative Expenses.  Those costs were $62,422 and $44,650 for the year ended December 31, 2011 and
2010, respectively.  Inbound shipping and handling costs are included as an allocation to inventory.
Advertising Costs
Advertising costs were $0 and $6,599 for the year ended December
31, 2011 and 2010, respectively.
24
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
Income Taxes
Conversion from an S Corporation
to a C Corporation
The Company's S-Corporation
election terminated in connection with the expectation of the initial public offering of the Company's common stock on January
1, 2012. From the Company's inception in 2004 to December 2011, the Company was not subject to federal and state
income taxes since it was operating as an S-Corporation.
Under the asset and liability method prescribed under
ASC
740, Income Taxes
, The Company will use the liability method of accounting for income taxes.  The liability method
measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to
the differences between the tax basis of assets and liabilities and their reported amounts on the financial
statements.  The resulting deferred tax assets or liabilities will be adjusted to reflect changes in tax laws as they
occur.  A valuation allowance will be provided when it is more likely than not that a deferred tax asset will not be
realized.
The Company will recognize the financial statement benefit
of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination.
For tax positions meeting a "more-likely-than-not" threshold, the amount to be recognized in the financial statements
will be the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold,
no financial statement benefit will be recognized. As of December 31, 2011, the Company had no uncertain tax positions. The Company
recognizes interest and penalties, if any, related to uncertain tax positions as general and administrative expenses. The Company
currently has no federal or state tax examinations nor has it had any federal or state examinations since its inception. Tax years
2009, 2010 and 2011 are subject to federal and state tax examination.
Liquidity
As shown in the accompanying financial statements, the Company
has incurred a net loss from operations of $15,140 for the year ended December 31, 2011 and incurred a net loss from operations
of $9,084 for the year ended December 31, 2010.  As of December 31, 2011, the Company's current assets exceed
its current liabilities by $339,514, with cash and cash equivalents representing $177,897.
Recent Authoritative Accounting Pronouncements
In April 2010, the FASB issued Accounting Standard Update No.
2010-12, "Income Taxes" (Topic 740). In April 2010, the FASB issued Accounting Standards Update 2010-12 (ASU 2010-12),  IncomeTaxes
(Topic 740): Accounting for Certain Tax Effects of the 2010 Health Care Reform Acts.   After consultation with the FASB,
the SEC stated that it "would not object to a registrant incorporating the effects of the Health Care and Education Reconciliation
Act of 2010 when accounting for the Patient Protection and Affordable Care Act". The Company does not expect the provisions
of ASU 2010-12 to have a material effect on the financial position, results of operations or cash flows of the Company.
In April 2010, the FASB issued Accounting Standards Update
2010-17 (ASU 2010-17), Revenue Recognition-Milestone Method (Topic 605): Milestone Method of Revenue Recognition. The amendments
in this Update are effective on a prospective basis for milestones achieved in fiscal years, and interim periods within those
years, beginning on or after June 15, 2010. Early adoption is permitted. If a vendor elects early adoption and the period of adoption
is not the beginning of the entity's fiscal year, the entity should apply the amendments retrospectively from the beginning
of the year of adoption. The Company does not expect the provisions of ASU 2010-17 to have a material effect on the financial
position, results of operations or cash flows of the Company.
In April 2010, the FASB issued Accounting Standards Update
(ASU) No. 2010-18 "Receivables (Topic 310) – Effect of a Loan Modification When the Loan is Part of a Pool that is
Accounted for as a Single Asset – a consensus of the FASB Emerging Issues Task Force."  ASU 2010-18 provides
guidance on account for acquired loans that has evidence of credit deterioration upon acquisition. It allows acquired assets with
common risk characteristics to be accounted for in the aggregate as a pool.  ASU 2010-18 is effective for modifications
of loans accounted for within pools under Subtopic 310-30 in the first interim or annual reporting period ending on or after July
15, 2010.  The Company does not expect ASU 2010-18 to have an impact on its financial condition, results of operations,
or disclosures.
25
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
In May 2010, the FASB issued Accounting Standards Update 2010-19
(ASU 2010-19), Foreign Currency (Topic 830): Foreign Currency Issues: Multiple Foreign Currency Exchange Rates. The amendments
in this Update are effective as of the announcement date of March 18, 2010. The Company does not expect the provisions of ASU
2010-19 to have a material effect on the financial position, results of operations or cash flows of the Company.
In June 2009, the Financial Accounting Standards Board (FASB)
issued authoritative literature regarding Amendments to FASB Interpretation No. 46(R), which changes various aspects of accounting
for and disclosures of interests in variable interest entities, and Accounting for Transfers of Financial Assets, which was issued
in order to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity
provides in its financial statements about a transfer of financial assets; the effects of a transfer on its financial position,
financial performance, and cash flows; and a transferor's continuing involvement, if any, in transferred financial assets.
In September 2009, the FASB modified the accounting for Multiple-Deliverable
Revenue Arrangements and Certain Revenue Arrangements that Include Software Elements. These modifications alter the methods previously
required for allocating consideration received in multiple-element arrangements to require revenue allocation based on a relative
selling price method, including arrangements containing software components and non-software components that function together
to deliver the product's essential functionality.
In January 2010, the FASB issued authoritative guidance regarding
Improving Disclosures about Fair Value Measurements, which requires new and amended disclosure requirements for classes of assets
and liabilities, inputs and valuation techniques and transfers between levels of fair value measurements and Accounting for Distributions
to Shareholders with Components of Stock and Cash, which clarifies the accounting for distributions to shareholders that offer
them the ability to elect to receive their entire distribution in cash or shares of equivalent value.
In July 2010, the FASB amended the requirements for Disclosures
about the Credit Quality of Financing Receivables and the Allowance for Credit Losses. As a result of these amendments, an entity
is required to disaggregate by portfolio segment or class certain existing disclosures and provide certain new disclosures about
its financing receivables and related allowance for credit losses. The new disclosures as of the end of the reporting period are
effective for the fiscal year ending December 31, 2010, while the disclosures about activity that occurs during a reporting period
are effective for the first fiscal quarter of 2011.
There were various other updates recently issued, most of which
represented technical corrections to the accounting literature or application to specific industries and are not expected to a
have a material impact on the Company's consolidated financial position, results of operations or cash flows.
Management does not believe that any other recently issued,
but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial
statements..
2.
ACCOUNTS RECEIVABLE
Components of accounts receivable as of December 31, 2011 and
2010 are as follows:
2011
2010
Accounts receivable
$
86,747
$
93,295
Allowance for doubtful accounts
(5,048
)
(4,665
)
Total
$
81,699
$
88,630
26
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
3.
PROPERTY AND EQUIPMENT
The Company's property and equipment at December 31,
2011 and December 31, 2010 consists of the following:
2011
2010
Machinery and equipment
$
543,011
$
527,511
Furniture and fixtures
8,785
0
Less accumulated depreciation
189,125
134,393
Property and Equipment, net
$
362,671
$
393,118
Depreciation expense included as a charge to income was $54,733
and $53,087 for the year ended December 31, 2011 and 2010, respectively.
4.
ACCOUNTS PAYABLE
Accounts payable at December 31, 2011 and 2010 are as follows
:
2011
2010
Accounts payable
$
114,368
$
60,683
5.
WORKING CAPITAL LINE OF CREDIT
Suntrust Revolver
On September 11, 2007, the Company, entered into a Loan Agreement (the "Loan Agreement") with
Suntrust Bank.  The Loan Agreement provides for a revolving line of credit to the Borrower equal to $150,000. The Company
has the right to prepay loans under the Loan Agreement in whole or in part at any time. The Company is required to make monthly
"interest-only" payments at the rate of 5% per annum. The Company has incurred interest expense of $7,604 and $7,604
for the year ended December 31, 2011 and 2010, respectively. As of December 31, 2011, the balance on the revolver was $150,000,
with no additional availability.
6.
NOTES PAYABLE
A summary of notes payable at December 31, 2011 and December
31, 2010 is as follows:
2011
2010
Note Payable – Kevin Conlon
$
75,000
$
-
Note Payable – Kevin Conlon
On December 16, 2011, the Company issued a promissory note
in the principal amount of $75,000 to Kevin Conlon. The note bears interest at 12% per annum and matures on December 16, 2012.  The
note required consecutive "interest only" monthly payments of $750 with a balloon payment due on December 16, 2012.    The
note was collateralized by the finished goods inventory of the Company.
27
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
7.
NOTES PAYABLE - RELATED PARTIES
Note Payable –Dominick Livoti, Jr.
From the period August 3, 2004 through December 11, 2010, company
co-founder, Dominick Livoti, Jr. periodically loaned the Company money culminating in a balance of $200,853 as of December 31,
2010. The note has no specific repayment terms and the Company may repay this note at any time, in whole or in part, without penalty
or additional interest. The balance as of December 31, 2011 and December 31, 2010 was $200,853 and $200,853 respectively.
Note Payable –Dominick Livoti, Sr.
On January 10, 2008, Dominick Livoti, Sr. the father of company
co-founder, Dominick Livoti, Jr., loaned the Company $25,000. The note requires monthly "interest only" payments of
0.5% of the principal balance. The Company may repay this note at any time, in whole or in part, without penalty or additional
interest. On September 30, 2010 the Company repaid $10,000 of the original note. The balance as of December 31, 2011 and
December 31, 2010 was $15,000 and $15,000 respectively.
8.
CAPITAL STOCK
The Company has authorized 1,000 shares of common stock, with
a par value of $0.01 per share. As of December 31, 2011 and December 31, 2010, the Company has 1,000 and 1,000, respectively,
of shares of common stock issued and outstanding. All of the common stock is owned by the two co-founders, Dominick Livoti, Jr.
and Jinxiang Liu.
9.
INCOME TAXES
The Company adopted ASC 740, Subtopic 10 (formerly, FASB No.
109, Accounting for Income Taxes) which requires the recognition of deferred tax liabilities and assets for the expected future
tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax
liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities
using enacted tax rates in effect for the year in which the differences are expected to reverse. As of December 31, 2011 the tax
base of the assets and liabilities was $189,584 less than the GAAP basis. Since the Company was an S-Corporation through the end
of December 31, 2011, no deferred tax asset or liability has been recorded for this difference in basis.
10.
RELATED PARTY TRANSACTIONS
The Company has an outstanding receivable from Skate Shack Inc.
(dba Fun Rentals), a wholly owned company of company co-founder's spouse. The balance receivable was $5,706 and $0 as of
December 31, 2011 and December 31, 2010. Sales to Fun Rentals were $74,457 and $25,872 for 2011 and 2010, respectively. Additionally,
on December 31, 2010, the Company forgave a receivable from Fun Rental in the amount of $47,065 in which was treated as a non-cash
shareholder distribution from the Company to Mr. Livoti.
The Company leases its warehouse and office space, on a month-to-month
basis, from a company owned by co-founder, Jinxiang Liu.
11.
BUSINESS CONCENTRATION
Revenue from two (2) major customers accounted for $138,097
and from one (1) major customer accounted for $194,993 for the year ended December, 2011 and 2010, respectively. 
These amounts represent 18% (12% and 6%, respectively) and 25% of the Company's revenue for the year ended December
31, 2011 and 2010, respectively. As of December 31, 2011 and 2010, these customers accounted for 0% and 0% of accounts receivable,
respectively.
28
PANTHER MOTOR GROUP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR YEARS ENDED DECEMBER 31, 2011 and 2010
Purchases from one (1) major supplier approximated $479,101and
$284,985 for the year ended December 31, 2011 and 2010, respectively. These amounts represent 94% and 74% of the Company's
purchases for the year ended December 31, 2011 and 2011, respectively. As of December 31, 2011 and 2010, this supplier accounted
for 33% and 50% of accounts payable, respectively.
12.
COMMITMENTS
Warehouse Lease Obligations
The Company has a month-to-month lease agreement with a related
party for its warehouse and corporate offices located in Fort Lauderdale, FL.   There is no lease term expiration and
no minimum future lease payments.
Rent expense for the year ended December, 2011 and 2010 totaled
$43,946 and $49,397 respectively.
13.
SUBSEQUENT EVENTS
The Company evaluated for subsequent events through the issuance
date of the Company's financial statements and the following items were noted:
Note Payable Related Party
- On January 30, 2012, Company
co-founder, Dominick Livoti Jr., signed a promissory note for a loan made to the Company in the amount of $80,000. The note is
non-interest bearing and is due December 31, 2012 and will automatically renew on the 31
st
day of December each year
unless payee notifies borrow in writing 30 days in advance of maturity date.
Note Payable Related Party
- On February 15, 2012, 2012,
Company co-founder, Dominick Livoti Jr., signed a promissory note for a loan made to the Company in the amount of $25,000. The
note is non-interest bearing and is due December 31, 2012 and will automatically renew on the 31
st
day of December
each year unless payee notifies borrow in writing 30 days in advance of maturity date.
Note Payable Related Party -
On February 9, 2012 and
February 24, 2012, shareholder and officer, Jinxiang Liu lent the Company $60,367 and $25,000 respectively. The loans were documented
with promissory notes that mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity
by the note holder. The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount
to be paid monthly.
Note Payable-
On January 24, 2012 the Panther
Motors, Inc. received an additional $10,000 loan from Kevin Conlon, who had previously loaned Panther Motors Inc. $75,000
under a promissory note secured by inventory of the Company. The $10,000 tranche was received without a promissory note and
there are no written repayment terms.
Share Exchange – On June 1, 2012, The Company issued
5,000,000 shares in exchange for all the outstanding stock in Panther Motors, Inc. As delineated in Note 1, this was recorded
as a reverse recapitalization.
29
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION
AND RESULT OF OPERATIONS
The following plan of operation
provides information which management believes is relevant to an assessment and understanding of our results of operations and
financial condition. The discussion should be read along with our financial statements and notes thereto. This section includes
a number of forward-looking statements that reflect our current views with respect to future events and financial performance.
Forward-looking statements are often identified by words like believe, expect, estimate, anticipate, intend, project and similar
expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking
statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results
to differ materially from our predictions.
Overview
Panther Motor Group Inc., a Nevada corporation,
was formed on May 31, 2012. Through our wholly-owned subsidiary, Panther Motors, Inc., a Florida corporation that was incorporated
on August 11, 2004, we manufacture and provide service to economical and unique personal transport vehicles. Our current product
is a personal transport known by the trademarked name ScootCoupe. It is marketed in three engine displacements, 49cc, 125cc, and
150cc, and distributed throughout the United States via fleet sales to commercial users and direct sales to retail consumers.
We also provide part and technical services to our customer base as part of our core business. We derive 80 percent of our revenue
from our 40 fleet customers in the form of vehicle and part sales, and the remaining 20 percent of revenue is derived from direct
sales and parts to retail customers.
Plan of Operations
For the next twelve
months, the Company plans to continue production and sales of its core products within the U.S. Additionally, the Company will
continue to service existing fleet owners and expand its operations to additional fleet locations around the nation. In February
2013, we plan to introduce our new P50 ScootCoupe model into the U.S. market.
Furthermore, the Company plans to obtain
approvals for the sale and use of its core products, the P50 and P150 ScootCoupe models, in the European market. The Company is
seeking to establish a presence in the European market as a provider of recreational motor powered cycles.
Results of Operations
Nine Months Ended September 30,
2012 Compared with Nine Months Ended September 30, 2011
Revenues in the first nine months of 2012
were $512,209 compared with $601,642 in the first nine months of 2011, reflecting a decrease of14.86%. The decrease in revenues
in the first nine months of 2012 was primarily attributable to a delay in EPA Certification of our 2013 models. Said certification
has been issued and we are shipping product again as of July 20, 2012.
Cost of Revenue
: Cost of Revenues
in the first nine months of 2012 was $284,714, compared with $386,679 in the first nine months of 2011, reflecting decrease of
26.37%. The decrease in cost of sales in the first nine months of 2012 was primarily attributable to lower component pricing,
higher sales prices and reduced assembly expenses..
Gross Profit
: Gross Profit in the
first nine months of 2012 was $227,495, compared with $214,963 in the first nine months of 2011, reflecting an increase of 5.83%.
The increase in cost in gross profit in the first nine months of 2012 was primarily attributable to higher unit pricing, lower
component pricing and lower assembly expenses.
SG&A Expenses
: SG&A Expense
in first 9 months of 2012 was $207,266, compared with $165,536 in 2011, reflecting an increase of 25.21%. The increase in SG&A
Expenses in the first nine months of 2012 was primarily attributable to laboratory testing and EPA certification expenses of the
new P50 model as well as increased accounting and legal fees associated with this offering.
Total Expenses
: Total expenses
in the first nine months of 2012 were $249,550, compared with $195,536 in 2011, reflecting an increase of 27.62%. The increase
in total expenses was primarily attributable to fees paid for laboratory testing and EPA certification of the new P50 model and
accounting, legal fees associated with this offering.
Gain from Operations
: Loss from
operations in first nine months of 2012 was $22,055, compared with a gain of $19,427 in 2011, reflecting a decrease of 213.53%.
The decrease in gains from operation is primarily attributable to fees paid for EPA certification and laboratory testing of the
new P50 model. Panther expects this model to be available for 5years before re-testing is required.
Other Expenses
: Other expenses
in the first nine months of 2012 was $13,755, compared to $6,383 in 2011, reflecting an increase of 115.49%. This increase was
primarily attributable to interest paid on notes payable.
Net Gain
: We incurred a net loss
of $35,810 in the first nine months of 2012 compared to a net gain of $13,044 in the first nine months of 2011.
30
Fiscal 2011 Compared with Fiscal
2010
Revenue
: Revenues in fiscal 2011
were $764,224, compared with $758,998 in fiscal 2010, reflecting an increase of .69%. The increase in revenues in fiscal 2011
was primarily attributable to a slight recovery in Gulf Region Sales.
Cost of Revenue
: Cost of Revenues
in fiscal 2011 were $499,012, compared with $537,241 in fiscal 2010, reflecting a decrease of 7%. The decrease in cost of sales
in fiscal 2011 was primarily attributable to higher margins on replacement part sales.
Gross Profit
: Gross profit in fiscal
year 2011 was $265,212, compared to $221,757 in 2010, reflecting an increase of 19.60%. The increase was primarily attributable
to higher sales pricing and lower costs.
SG&A Expenses
: SG&A Expenses
in fiscal 2011 were $217,115, compared with $168,799 in fiscal year 2010, reflecting an increase of 28.62%. This increase was
primarily attributable to accounting &consulting expenses associated with the public offering, lobbying expenses and purchases
of tools and equipment.
Total Expenses
: Total expenses
in fiscal 2011 were $271,848, compared with $221,887 in fiscal year 2010, reflecting an increase of 22.52%. This increase is primarily
attributable to accounting and consulting expenses associated with the public offering as well as investments in tools and equipment.
Loss from Operations
: Loss from
operations in 2011 was $6,636, compared to a loss of $130 in 2010, reflecting an increase of $5,004.62. This increase was mainly
attributable to accounting and consulting expenses associated with the public offering.
Net loss
: We incurred a net loss
of $15,140 or 1.98% of revenues in fiscal 2011 compared to a net loss of $9,084, or 1.20 % of revenues in fiscal 2010.
Liquidity and Capital Resources
As of September 30, 2012, we had cash
and cash equivalents of approximately ($30,297). We have historically financed our operations primarily through net cash flow
from operations and shareholder investment.
Net Cash provided by operating activities
was a loss of $199,312 in the first nine months of 2012, as compared with a gain of $54,806 for the same period in 2011, reflecting
a decrease of 463%. This decrease was primarily due to a deposit paid to the Company's major suppliers for scooter cars
and advance payments for engine purchases.
Net cash flow from investing activities
was $0 in the first nine months of 2012, as compared to a loss of $28,895 for the same period in 2011, reflecting an decrease
of 100%. This decrease was primarily due to Net cash flow from investing activities in 2012.
Net cash flow from financing activities
was $51,712 for the first nine months of 2012, as compared to $(10,000) for the same period of 2011, reflecting an increase of
617%. This increase was due to a loan proceed.
Related Party Notes Payable
Note Payable –Dominick Livoti,
Jr.
From the period August 3, 2004 through
December 11, 2010, company co-founder, Dominick Livoti, Jr. periodically loaned the Company money culminating in a balance of $200,853
as of December 31, 2010. The note has no specific repayment terms and the Company may repay this note at any time, in whole or
in part, without penalty or additional interest. The balance as of December 31, 2011 and December 31, 2010 was $200,853 and
$200,853 respectively.
On January 31, 2012 and February 15, 2012, shareholder and officer, Dominick Livoti lent the Panther Motors,
Inc. $80,000 and $25,000 respectively. The loans were documented with Promissory Notes that mature on 12/31/2012 and are automatically
renewable unless given 30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the
Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.
Note Payable –Dominick Livoti,
Sr.
On January 10, 2008, Dominick Livoti, Sr. the father of company co-founder, Dominick Livoti, Jr., loaned
the Company $25,000. The note requires monthly "interest only" payments of 0.5% of the principal balance. The Company
may repay this note at any time, in whole or in part, without penalty or additional interest. On September 30, 2010 the Company
repaid $10,000 of the original note. The balance as of December 31, 2011 and December 31, 2010 was $15,000 and $15,000 respectively.
Note Payable – Jinxiang Liu
On February 9, 2012 and February 24, 2012, shareholder and officer, Jinxiang Liu lent the Panther Motors,
Inc. $60,367 and $25,000 respectively. The loans were documented with promissory notes that mature on 12/31/2012 and are automatically
renewable unless given 30 days written notice prior to maturity by the note holder. The notes are secured by the assets of the
Company and call for 0.25% interest on the outstanding loan amount to be paid monthly.
31
Note Payable - Fun Rentals Inc.
On December 15, 2012, the Company issued a promissory note in the principal amount of $25,000 to Fun Rentals
Inc. The notes mature on 12/31/2012 and are automatically renewable unless given 30 days written notice prior to maturity by the
note holder. The notes are secured by the assets of the Company and call for 0.25% interest on the outstanding loan amount to be
paid monthly. Our CEO, Dominick Livoti, Jr., has voting control over Fun Rentals Inc.
Note Payable
On December 16, 2011, the Company issued
a promissory note in the principal amount of $75,000 to Kevin Conlon. The note bears interest at 12% per annum and matures on
December 16, 2012.  The note required consecutive "interest only" monthly payments of $750 with a balloon
payment due on December 16, 2012.    The note was collateralized by the finished goods inventory of the Company.
On January 24, 2012 the Company received an additional $10,000 loan from Kevin Conlon. The $10,000
tranche was received without a promissory note and there are no written repayment terms.
Suntrust Revolver
On September 11, 2007, the Company, entered
into a Loan Agreement (the "Loan Agreement") with Suntrust Bank. The Loan Agreement provides for a revolving line of
credit to the Borrower equal to $150,000. The Company has the right to prepay loans under the Loan Agreement in whole or in part
at any time. The Company is required to make monthly "interest-only" payments at the rate of 5% per annum. The Company
has incurred interest expense of $7,604 and $7,604 for the year ended December 31, 2011 and 2010, respectively. As of December
31, 2011, the balance on the revolver was $150,000, with no additional availability. On March, 9, 2012, the revolver balance of
$150,000 was converted into a 5 year term loan with an interest rate of 6% per annum.
Off-Balance Sheet Arrangements
We have no off-balance sheet arrangements.
Critical Accounting Policies and Estimates
Basis of Presentation
The preparation of financial statements
in conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported
amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further
acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal
accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to
assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions
are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results
of operations and cash flows of the company for the respective periods being presented.
Use of Estimates
The preparation of financial statements
in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements'
estimates or assumptions could have a material impact on the Company's financial condition and results of operations during
the period in which such changes occurred.
Actual results could differ from those
estimates. The Company's financial statements reflect all adjustments that management believes are necessary for the fair
presentation of their financial condition and results of operations for the periods presented.
Cash and Cash Equivalents
For purposes of the statement of cash
flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.
Accounts Receivable
Accounts receivable, if any, is carried
at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management's assessment
of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of
a major customer's creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability
of the amounts due to us could be overstated, which could have a negative impact on operations.
32
Revenue Recognition
Service revenue is recognized in the period
services are rendered and earned under service arrangements with clients where service fees are fixed or determinable and collectability
is reasonably assured. The Company's service revenue is largely attributable professional engineering services where the
fee is based on the billable rate of the employees.
Advertising
Advertising expenses are recorded as sales
and marketing expenses when they are incurred.
Research and Development
All research and development costs are
expensed as incurred.
Income Tax
We are subject to state and federal income
taxes in the U.S. Significant judgment is required in evaluating our uncertain tax positions and determining our provision for
income taxes. In accordance with FASB ASC Topic 740,
"Income Taxes,"
we provide for the recognition of deferred
tax assets if realization of such assets is more likely than not.
Fair Value Measurements
In January 2010, the FASB ASC Topic 825,
Financial Instruments
, requires
disclosures about fair value of financial instruments in quarterly reports
as well as in annual reports.  For the Company, this statement applies to certain investments and long-term debt.  Also,
the FASB ASC Topic 820,
Fair Value Measurements and Disclosures,
clarifies the definition of fair value for financial reporting,
establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.
Various inputs are considered when determining
the value of the Company's investments and long-term debt.  The inputs or methodologies used for valuing securities
are not necessarily an indication of the risk associated with investing in these securities.  These inputs are summarized
in the three broad levels listed below.
·
Level 1 – observable market inputs that are unadjusted quoted prices for
    identical assets or liabilities in active markets.
·
Level 2 – other significant observable inputs (including quoted prices for similar securities,
    interest rates, credit risk, etc…).
·
Level 3 – significant unobservable inputs (including the Company's own assumptions
    in determining the fair value of investments).
The Company's adoption of FASB ASC
Topic 825 effectively at the inception did not have a material impact on the Company's financial statements.
The carrying value of financial assets
and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured
on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial
assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities
measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company
does not have financial assets as an investment carried at fair value on a recurring basis as of December 31, 2011.
The availability of inputs observable
in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether
the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing
inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the
valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable
in the market and may require management judgment. As of December 31, 2011, the Company has assets and liabilities in cash, various
receivables, property and equipments, and various payables. Management believes that they are being presented at their fair market
value.
Basic and diluted earnings per share
Basic earnings per share are based on
the weighted-average number of shares of common stock outstanding.  Diluted earnings per share is based on the weighted-average
number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following
types of potentially dilutive instruments:
·
Warrants,
·
Employee stock options, and
·
Other equity awards, which include long-term incentive awards.
The FASB ASC Topic 260,
Earnings per
Share
, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.
33
Diluted earnings per share are based on
the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method.
Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to
purchase common stock at the average market price during the period.
Stock Based Compensation
For purposes of determining the variables
used in the calculation of stock compensation expense under the provisions of FASB ASC Topic 505, "
Equity
"
and FASB ASC Topic 718, "
Compensation — Stock Compensation,"
we perform an analysis of current market
data and historical company data to calculate an estimate of implied volatility, the expected term of the option and the expected
forfeiture rate. With the exception of the expected forfeiture rate, which is not an input, we use these estimates as variables
in the Black-Scholes option pricing model. Depending upon the number of stock options granted any fluctuations in these calculations
could have a material effect on the results presented in our statement of operations and other comprehensive income. In addition,
any differences between estimated forfeitures and actual forfeitures could also have a material impact on our financial statements.
Recent Accounting Pronouncements
In May 2011, the FASB issued ASU 2011-04,
"Fair Value Measurement (Topic 820), Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in
U.S. GAAP and IFRS".  The amendment results in a consistent definition of fair value and ensures the fair value
measurement and disclosure requirements are similar between GAAP and International Financial Reporting Standards ("IFRS").
This amendment changes certain fair value measurement principles and enhances the disclosure requirements particularly for Level
3 fair value measurements. This amendment will be effective for the Company on January 1, 2012. Based on current operations, the
adoption is not expected to have a material effect on the Company's consolidated financial position or results of operations.
In December 2011, the FASB issued ASU
2011-11, "Balance Sheet (Topic 210), Disclosures about Offsetting Assets and Liabilities".  The guidance
in this update requires the Company to disclose information about offsetting and related arrangements to enable users of its financial
statements to understand the effect of those arrangements on its financial position.  The pronouncement is effective
for fiscal years and interim periods beginning on or after January 1, 2013 with retrospective application for all comparative
periods presented.  The Company's adoption of the new standard is not expected to have a material effect on the
Company's consolidated financial position or results of operations.
JOBS Act
On April 5, 2012, the JOBS Act was
signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for qualifying
public companies. As an "emerging growth company" we may delay adoption of new or revised accounting pronouncements
applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage
of the benefits of this extended transition period. To the extent we do so, our financial statements may not be comparable to
companies that comply with such new or revised accounting standards.
Additionally, we are in the process of
evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions
set forth in the JOBS Act, if, as an "emerging growth company", we choose to rely on such exemptions we may not be
required to, among other things, (i) provide an auditor's attestation report on our system of internal controls over
financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure that may be required of
non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with
any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor's
report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) disclose
certain executive compensation related items such as the correlation between executive compensation and performance and comparisons
of the CEO's compensation to median employee compensation. These exemptions will apply for a period of five years following
the completion of our initial public offering or until we are no longer an "emerging growth company," whichever is
earlier.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
ON ACCOUNTING AND FINANCIAL DISCLOSURE
There have been no changes in or disagreements with accountants
on accounting or financial disclosure matters.
34
DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS
AND CONTROL PERSONS
The following table sets forth the name and age of officers
and director as of January 7, 2013.
Name
Age
Position
Dominick Livoti
51
Chief Executive Officer, President, Secretary, Treasurer and Director
Jinxiang Liu
50
Vice President and Director
Set forth below is a brief description
of the background and business experience of our executive officer and director for the past five years.
Dominick Livoti
has served as the
Chief Executive Officer, President, Secretary, Treasurer and Director of the Company since May 31, 2012. Mr. Livoti holds a degree
in Criminal Justice with a minor in Business Administration from C.W. Post University. From 1979 to 1983, Mr. Livoti founded and
operated Lightning Tree Services, located in Bellmore, New York. From 2001 to the present, Mr. Livoti founded Fun Rentals, located
in Deerfield Beach Florida. Fun Rentals has locations in Deerfield Beach, Fort Lauderdale, Key West, St. Augustine and Captiva
Island Florida. Fun Rentals is a leading provider of recreational products for tourists in Florida. Mr. Livoti co-founded Panther
Motors, Inc. in 2004, and served as the Chief Executive Officer and director since its founding.
Jinxiang. Liu
has served as the
Vice President and Director of the Company since May 31, 2012. Mr. Liu holds a degree in engineering from Bejing University. In
1995, Mr. Liu moved to Florida and opened a chain of video rental stores. Mr. Liu sold this business in 2001. Mr. Liu co-founded
Panther Motors, Inc. in 2004, and served as the Director and President of Manufacturing since its founding.
Involvement in Certain Legal
Proceedings
To the best of our knowledge, none of our directors or executive
officers has, during the past ten years:
•
been convicted in a criminal proceeding or been subject to a pending criminal
    proceeding (excluding traffic violations and other minor offenses);
•
had any bankruptcy petition filed by or against the business or property of the person, or
    of any partnership, corporation or business association of which he was a general partner or executive officer, either at
    the time of the bankruptcy filing or within two years prior to that time;
•
been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated,
    of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending
    or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings
    and loan, or insurance activities, or to be associated with persons engaged in any such activity;
•
been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity
    Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been
    reversed, suspended, or vacated;
•
been the subject of, or a party to, any federal or state judicial or administrative order,
    judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding
    among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation,
    any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary
    or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist
    order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with
    any business entity; or
•
been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended
    or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Securities Exchange Act of 1934, as
    amended ("Exchange Act")), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act),
    or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
    associated with a member.
Except as set forth in our discussion below in "Certain Relationships and
    Related Transactions," none of our directors or executive officers has been involved in any transactions with us or
    any of our directors, executive officers, affiliates or associates which are required to be disclosed pursuant to the rules
    and regulations of the Commission.
Term of Office
Our directors shall be elected at the
annual meeting of the stockholders or at a special meeting called for that purpose. Each director shall hold such office until
his successor is elected and qualified or until his earlier resignation or removal. Any vacancy occurring on the board of directors
and any directorship to be filled by reason of an increase in the board of directors may be filled by the affirmative vote of
a majority of the remaining directors, although less than a quorum, or by a sole remaining director. Such newly elected director
shall hold such office until his successor is elected and qualified or until his earlier resignation or removal.
Any officer elected or appointed by the
board of directors may be removed at any time by the board of directors. Any officer appointed by the chairman may be removed
at any time by the board of directors or the chairman. Any officer may resign at any time by giving written notice of his resignation
to the chairman or to the secretary. Any vacancy occurring in any office of chairman of the board, president, vice president,
secretary or treasurer shall be filled by the board of directors. Any vacancy occurring in any other office may be filled by the
chairman.
Family Relationships
There are no family relationships among
any of our officers or directors.
Employment Agreements
We do not have any employment agreements
with any of our named executive officers or directors.
Consulting Agreements
We do not have any consulting agreements
with any of our named executive officers or directors.
35
Involvement in Certain Legal Proceedings
Certain conditions may exist as of the
date the financial statements are issued. These conditions may result in a future loss to us but which will only be resolved when
one or more future events occur or fail to occur. We and our legal counsel assess such contingent liabilities, and such assessment
inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against
us or unasserted claims that may result in such proceedings, our legal counsel evaluates the perceived merits of any legal proceedings
or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.
To the best of our knowledge, none of
our directors or executive officers has been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors,
or has been a party to any judicial or administrative proceeding during the past five years that resulted in a judgment, decree,
or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities
laws, or a finding of any violation of federal or state securities laws, except for matters that were dismissed without sanction
or settlement. Except as set forth in our discussion below in "Certain Relationships and Related Transactions, and Director
Independence – Transactions with Related Persons," none of our directors, director nominees, or executive officers
has been involved in any transactions with us or any of our directors, executive officers, affiliates, or associates which are
required to be disclosed pursuant to the rules and regulations of the Commission.
EXECUTIVE COMPENSATION
The following sets forth information with respect to the compensation
awarded or paid to Dominick Livoti, our CEO, President, Secretary, and Treasurer, and Jinxiang Liu, Vice President for all services
rendered in all capacities to us in fiscal 2011.  These executive officers are referred to as the "named executive
officers" throughout this report.
Summary Compensation Table
The following table sets forth information regarding each element
of compensation that we paid or awarded to our named executive officers for fiscal 2011.
Name and
Principal Position
Year
Salary
Bonus
Stock
Awards
($)
Option
Awards
Non-
Qualified
Deferred
Compensation
Earnings
All Other
Compensation
Totals
($)
Dominick Livoti,
Chief Executive
Officer, President,
Secretary, and
Treasurer
2011
$
0
$
0
$
0
$
0
$
0
$
0
$
0
Jinxiang Liu, Vice President
2011
$
0
$
0
$
0
$
0
$
0
$
0
$
0
Outstanding Equity Awards at Fiscal Year-End Table
We had no outstanding equity awards as of the end of fiscal
2011.
Compensation of Directors
Directors are permitted to receive fixed
fees and other compensation for their services as directors. The Board of Directors has the authority to fix the compensation
of directors. No amounts have been paid to, or accrued to, directors in such capacity.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT
The following table sets forth certain
information as of January 7, 2013 with respect to the holdings of: (1) each person known to us to be the beneficial owner of more
than 5% of our common stock; (2) each of our directors, nominees for director and named executive officers; and (3) all directors
and executive officers as a group. To the best of our knowledge, each of the persons named in the table below as beneficially
owning the shares set forth therein has sole voting power and sole investment power with respect to such shares, unless otherwise
indicated.
Name of Beneficial Owner and
Address (1)
Amount and Nature of Beneficial
Ownership of Common Stock
Percent of
Common Stock (2)
5% Shareholders
Cardinal Advisors, LLC(3)
1,500,000
6.66
%
Directors and Executive Officers
Dominick Livoti
10,000,000
44.41
%
Jinxiang Liu
10,000,000
44.41
%
All directors and officers as a group (2 people)
10,000,000
88.82
%
(1)
Unless otherwise noted, the address
        of each beneficial owner is c/o Panther Motor Group, Inc. 10358 West McNab Road
Tamarac, Florida 33321
(2)
Based on 22,516,500 shares of common stock issued and outstanding as of January 7, 2013.  Shares
    of common stock subject to options or warrants currently exercisable or exercisable within 60 days, are deemed outstanding
    for purposes of computing the percentage of the person holding such options or warrants, but are not deemed outstanding for
    purposes of computing the percentage of any other person.
(3)
This amount includes 600,000 shares of common stock that has not yet vested according to the
    Company's corresponding consulting agreement.
36
TRANSACTIONS WITH RELATED PERSONS, PROMOTERS AND CERTAIN
CONTROL PERSONS
Transactions with Related Persons
The Company has an outstanding receivable
from Skate Shack Inc/dba Fun Rentals., a wholly owned company of the spouse of company co-founder Dominick Livoti, Jr. The balance
receivable was $5,706 and $0 as of December 31, 2011 and December 31, 2010. Sales to Skate Shack, Inc. were $74,457 and $25,872
for 2011 and 2010, respectively. Additionally, on December 31, 2010, the Company forgave a receivable from Skate Shack, Inc. in
the amount of $47,065 in which was treated as a non-cash shareholder distribution from the Company to Mr. Livoti.
The Company leases its warehouse and office
space, on a month-to-month basis, from a company owned by co-founder, Jinxiang Liu.
Item 12A. Disclosure of Commission
Position on Indemnification of Securities Act Liabilities
Our directors and officers are indemnified
as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors and certain officers
against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions
described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
We have been advised that in the opinion
of the Securities and Exchange Commission indemnification for liabilities arising under the Securities Act is against public policy
as expressed in the Securities Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities is asserted by one of our directors, officers, or controlling persons in connection with the securities being registered,
we will, unless in the opinion of our legal counsel the matter has been settled by controlling precedent, submit the question
of whether such indemnification is against public policy to a court of appropriate jurisdiction. We will then be governed by the
court's decision.
37
2,516,500 SHARES OF COMMON STOCK
PANTHER MOTOR GROUP, INC.
PROSPECTUS
YOU SHOULD RELY ONLY ON THE INFORMATION
CONTAINED IN THIS DOCUMENT OR THAT WE HAVE REFERRED YOU TO. WE HAVE NOT AUTHORIZED ANYONE TO PROVIDE YOU WITH INFORMATION THAT
IS DIFFERENT. THIS PROSPECTUS IS NOT AN OFFER TO SELL COMMON STOCK AND IS NOT SOLICITING AN OFFER TO BUY COMMON STOCK IN ANY STATE
WHERE THE OFFER OR SALE IS NOT PERMITTED.
Until _____________, all dealers that
effect transactions in these securities whether or not participating in this offering may be required to deliver a prospectus.
This is in addition to the dealer's obligation to deliver a prospectus when acting as underwriters and with respect to their
unsold allotments or subscriptions.
The Date of This Prospectus is [                 ]
__, 2013
PART II   INFORMATION
NOT REQUIRED IN THE PROSPECTUS
Item 13. Other Expenses of Issuance and Distribution
Securities and Exchange Commission registration fee
$
68.65
Federal Taxes
$
0
State Taxes and Fees
$
0
Transfer Agent Fees
$
0
Accounting fees and expenses
$
2,500
Legal fees and expense
$
30,000
Blue Sky fees and expenses
$
1,950
Total
$
34,518.65
All amounts are estimates other than the Commission's
registration fee. We are paying all expenses of the offering listed above. No portion of these expenses will be borne by the selling
shareholders. The selling shareholders, however, will pay any other expenses incurred in selling their common stock, including
any brokerage commissions or costs of sale.
Item 14. Indemnification of Directors
and Officers
Our directors and officers are indemnified
as provided by the Nevada corporate law and our Bylaws. We have agreed to indemnify each of our directors and certain officers
against certain liabilities, including liabilities under the Securities Act of 1933. Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions
described above, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or
controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
We have been advised that in the opinion
of the Securities and Exchange Commission indemnification for liabilities arising under the Securities Act is against public policy
as expressed in the Securities Act, and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities is asserted by one of our directors, officers, or controlling persons in connection with the securities being registered,
we will, unless in the opinion of our legal counsel the matter has been settled by controlling precedent, submit the question
of whether such indemnification is against public policy to a court of appropriate jurisdiction. We will then be governed by the
court's decision.
Item 15. Recent Sales of Unregistered
Securities
We were incorporated in the State of Nevada
on May 31, 2012. In connection with incorporation, we issued 10,000,000 shares of common stock to our founders. These shares were
issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the "Act") and were
issued as founders shares. These shares of our common stock qualified for exemption under Section 4(2) of the Act since the issuance
shares by us did not involve a public offering. The offering was not a "public offering" as defined in Section 4(2)
due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares
offered. We did not undertake an offering in which we sold a high number of shares to a high number of investors. In addition,
the investors had the necessary investment intent as required by Section 4(2) since they agreed to and received share certificates
bearing a legend stating that such shares are restricted pursuant to Rule 144 of the Act. This restriction ensures that these
shares would not be immediately redistributed into the market and therefore not be part of a "public offering." Based
on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4(2) of the Act for this
transaction.
On June 1, 2012, we issued 10,000,000
shares of common stock to the owners of Panther Motors, Inc. in exchange for 1,000 shares of Panther Motors, Inc.
These shares
were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the "Act")
and were issued as founders shares. These shares of our common stock qualified for exemption under Section 4(2) of the Securities
Act of 1933 since the issuance shares by us did not involve a public offering. The offering was not a "public offering"
as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the
offering and number of shares offered. We did not undertake an offering in which we sold a high number of shares to a high number
of investors. In addition, the investors had the necessary investment intent as required by Section 4(2) since they agreed to
and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933 Securities
Act. This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part
of a "public offering." Based on an analysis of the above factors, we have met the requirements to qualify for exemption
under Section 4(2) of the Securities Act of 1933 for this transaction.
In 2012, we issued 516,500 shares in a
private offering pursuant to Regulation D Rule 506 at an offering price of $0.20 per share.
The Common Stock issued in this
offering was issued in a transaction not involving a public offering in reliance upon an exemption from registration provided
by Rule 506 of Regulation D of the Securities Act of 1933. In accordance with Section 230.506 (b)(1) of the Securities Act of
1933, these shares qualified for exemption under the Rule 506 exemption for this offerings since it met the following requirements
set forth in Reg. §230.506:
(A)
No general solicitation or advertising was conducted by us in connection with the
    offering of any of the Shares.
(B)
At the time of the offering we were not: (1) subject to the reporting requirements of Section
    13 or 15 (d) of the Exchange Act; or (2) an "investment company" within the meaning of the federal securities
    laws.
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1
(C)
Neither we, nor any of our predecessors, nor any of our directors, nor any beneficial owner
    of 10% or more of any class of our equity securities, nor any promoter currently connected with us in any capacity has been
    convicted within the past ten years of any felony in connection with the purchase or sale of any security.
(D)
The offers and sales of securities by us pursuant to the offerings were not attempts to evade
    any registration or resale requirements of the securities laws of the United States or any of its states.
(E)
None of the investors are affiliated with any of our directors, officers or promoters or any
    beneficial owner of 10% or more of our securities.
In 2012, we issued 2,000,000 shares in
exchange for services rendered.
These shares were issued in reliance on the exemption under Section 4(2) of the Securities
Act of 1933, as amended (the "Act") and were issued as founders shares. These shares of our common stock qualified
for exemption under Section 4(2) of the Securities Act of 1933 since the issuance shares by us did not involve a public offering.
The offering was not a "public offering" as defined in Section 4(2) due to the insubstantial number of persons involved
in the deal, size of the offering, manner of the offering and number of shares offered. We did not undertake an offering in which
we sold a high number of shares to a high number of investors. In addition, the investors had the necessary investment intent
as required by Section 4(2) since they agreed to and received share certificates bearing a legend stating that such shares are
restricted pursuant to Rule 144 of the 1933 Securities Act. This restriction ensures that these shares would not be immediately
redistributed into the market and therefore not be part of a "public offering." Based on an analysis of the above
factors, we have met the requirements to qualify for exemption under Section 4(2) of the Securities Act of 1933 for this transaction.
Item 16. Exhibits and Financial Statement Schedules
EXHIBIT
NUMBER
DESCRIPTION
3.1
Articles of Incorporation
3.2
By-Laws
5.1
Opinion of Anslow & Jaclin, LLP.*
23.1
Consent of  Lake & Associates CPA's.
* To be filed by amendment.
Item 17. Undertakings
(A) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales
are being made, a post-effective amendment to this registration statement:
i.    To include any
prospectus required by section 10(a)(3) of the Securities Act of 1933;
ii.   To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value
of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth
in the "Calculation of Registration Fee" table in the effective registration statement.
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2
iii.  To include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
to such information in the registration statement;
(2) That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) Insofar as indemnification for liabilities arising under
the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such
issue.
(5) Each prospectus filed pursuant to Rule 424(b) as part of
a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses
filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is
first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part
of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such
first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
statement or made in any such document immediately prior to such date of first use.
(6) That, for the purpose of determining liability of the registrant
under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes
that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of
the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:
i.    Any preliminary
prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;
ii.   Any free writing prospectus
relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
iii.  The portion of any other
free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and
iv.  Any other communication that
is an offer in the offering made by the undersigned registrant to the purchaser.
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SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, there onto
duly authorized, in the City of Tamarac, State of Florida, on November 21, 2012.
PANTHER MOTOR
GROUP, INC.
By:
/s/Dominick Livoti
Dominick Livoti
Chief Executive Officer
Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ Dominick Livoti
Chief Executive Officer and Director
January __, 2013.
Dominick Livoti
/s/Jinxiang Liu
Vice President and Director
January __, 2013.
Jinxiang Liu
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