10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2012
OR
[   ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number   000-53697

CORONUS SOLAR INC.

(Exact name of registrant as specified in its charter)

British Columbia, Canada

(State or other jurisdiction of incorporation or organization)

1100-1200 West 73rd Avenue

Vancouver, British Columbia

Canada   V6P 6G5

(Address of principal executive offices, including zip code.)

604-267-7078

(telephone number, including area code)

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.   YES [X]     NO [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (SS 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   YES [   ]     NO [X]

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,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer	[   ]	Accelerated Filer	[   ]
Non-accelerated Filer	[   ]	Smaller Reporting Company	[X]
(Do not check if smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   YES [   ]     NO [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:  17,219,486 as of November 12, 2012.

TABLE OF CONTENTS

			Page
PART I.
Item 1.	Financial Statements.		3
	Financial Statements:
		Consolidated Balance Sheets	3
		Consolidated Statements of Operations and Comprehensive Loss	4
		Consolidated Statements of Stockholders’ Equity (Deficiency)	5
		Consolidated Statements of Cash Flows	7
		Notes to Consolidated Financial Statements	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.		23
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.		33
Item 4.	Controls and Procedures.		33
PART II.
Item 1A.	Risk Factors.		34
Item 6.	Exhibits.		34
Signatures			39
Exhibit Index			40

-2-

PART I.

ITEM 1.            FINANCIAL STATEMENTS.

CORONUS SOLAR INC.
(A Development Stage Enterprise)
CONSOLIDATED BALANCE SHEETS
(Expressed in US Dollars)
(Unaudited)
			September 30,		March 31,
			2012		2012
ASSETS
CURRENT
	Cash and cash equivalents	$	600,661	$	327
	Other receivables		6,563		900
	Prepaid expenses and deposit (Note 16(d))		209,556		42,149
	Assets held for sale (Note 9)		-		40,161
TOTAL CURRENT ASSETS			816,780		83,537
CONSTRUCTION IN PROGRESS (Note 16(a))			658,440		6,584,400
PROPERTY, PLANT AND EQUIPMENT (Note 7)			934,917		334,789
INTANGIBLE ASSET (Note 8)			598		4,180
TOTAL ASSETS		$	2,410,735	$	7,006,906
LIABILITIES
CURRENT
	Accounts payable and accrued liabilities	$	23,122	$	144,656
	Loan from a shareholder (Note 10)		-		243,288
	Convertible notes payable (Note 12)		-		15,198
	Notes payable (Note 11)		69,184		37,100
	Liabilities held for sale		-		33,475
TOTAL CURRENT LIABILITIES			93,223		473,717
NOTES PAYABLE (Note 11)			541,917		202,084
TOTAL LIABILITIES			634,223		675,801
STOCKHOLDERS’ EQUITY SHARE CAPITAL  (Note 13)
	Authorized:  Unlimited voting common shares without par value
	Issued and outstanding:  17,219,486 common shares (March 31, 2012: 27,096,086)		1,548,492		7,474,452
ADDITIONAL PAID IN CAPITAL			598,534		598,534
ACCUMULATED OTHER COMPREHENSIVE LOSS			(27,725)		(26,232)
DEFICIT, accumulated during the development stage			(342,789)		(1,715,649)
TOTAL STOCKHOLDERS’ EQUITY			1,776,512		6,331,105
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	2,410,735	$	7,006,906
CONTINGENT LIABILITIES (Note 14)
GOING CONCERN (Note 2)

(See accompanying notes to the financial statements)

-3-

CORONUS SOLAR INC.
(A Development Stage Enterprise)
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in U.S. Dollars)
(Unaudited)
											Cumulative from
			Three months ended				Six months ended				inception
			September 30,				September 30,				(December 3, 2001) to
			2012		2011		2012		2011		September 30, 2012
REVENUE		$	-	$	-	$	-	$	-	$	1,751
EXPENSES
	Amortization		1,801		1,805		3,604		3,611		56,751
	Consulting fee		-		-		-		-		20,928
	Interest on shareholder loan		-		2,169		430		4,551		28,303
	Interest and bank charges		1,847		4,312		9,054		5,670		41,908
	Office and miscellaneous		11,728		17,506		26,065		31,439		132,755
	Professional fees		19,214		18,136		49,468		40,865		398,867
	Repairs and maintenance		-		-		-		-		869
	Salaries and wages		25,290		24,548		50,182		39,016		519,396
	Stock based compensation		-		-		-		-		492,309
	Telephone and utilities		6		230		193		421		12,570
	Advertising and promotion		58		-		402		143		9,526
	Travel		-		-		-		22		3,156
	Feasibility study		72,857		25,000		116,157		41,733		233,027
	Foreign exchange loss		944		(830)		8,457		2,748		14,191
	Write-down of land deposits		-		-		-		3,210		11,610
	Write down in website development costs		-		-		-		-		17,390
	Write-off trademark cost		-		-		-		-		279
	Write-off on discount of convertible notes		-		-		80,237		-		80,237
			133,745		92,876		344,249		173,429		2,074,072
OTHER ITEMS
	Interest income		85		-		85		-		116
	Debt forgiven		-		-		-		-		13,192
	Gain on sale of assets		908,030		-		1,717,024		-		1,717,024
	Others		-		-		-		-		(800)
			908,115		-		1,717,109		-		1,729,532
NET INCOME (LOSS) FOR THE PERIOD			774,370		(92,876)		1,372,860		(173,429)		(342,789)
Other comprehensive income (loss) for the period
Exchange difference on translation			(3,306)		17,480		(1,493)		14,323		(27,725)
COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD		$	771,064	$	(75,396)	$	1,371,367	$	(159,106)	$	(370,514)
Profit (loss) per share - Basic		$	0.04	$	(0.00)	$	0.06	$	(0.01)
Weighted average number of common shares outstanding - basic			22,050,432		27,079,086		24,559,473		27,004,496
Profit (loss) per share - Diluted		$	0.03	$	(0.00)	$	0.05	$	(0.01)
Weighted average number of common shares outstanding - diluted			22,875,748		27,079,086		25,384,789		27,004,496

(See accompanying notes to the financial statements)

-4-

CORONUS SOLAR INC.
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
December 3, 2001 (inception) to September 30, 2012
(Expressed in U.S. Dollars)
					ACCUMULATED	DEFICIT
					OTHER	ACCUMULATED
				ADDITIONAL	COMPREHENSIVE	DURING	TOTAL
		COMMON		PAID-IN	INCOME	DEVELOPMENT	STOCKHOLDERS’
		SHARES	AMOUNT	CAPITAL	(LOSS)	STAGE	EQUITY
Stock issued for service at $0.0525 per share
on December 5, 2001		75,000	3,931	-	-	-	3,931
Stock issued for cash at $0.0002 per share
on December 5, 2001, revalued at $0.0525 per share		6,750,000	353,767	-	-	-	353,767
Stock issued for cash at $0.0525 per share
on December 5, 2001		300,000	15,722	-	-	-	15,722
Stock-based compensation on 75,000 options granted		-	-	6,026	-	-	6,026
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(9)	-	(9)
	(Loss) for the period	-	-	-	-	(376,277)	(376,277)
Balance, March 31, 2002		7,125,000	373,420	6,026	(9)	(376,277)	3,160
Stock issued for cash at $0.055 per share
on April 5, 2002		235,294	12,916	-	-	-	12,916
Stock issued for cash at $0.0725 per share
on June 18, 2002		88,890	6,458	-	-	-	6,458
Exercise of warrants at $0.055 per share
on August 15, 2002		235,294	12,916	-	-	-	12,916
Stock issued for cash at $0.0725 per share
on December 16, 2002		44,444	3,229	-	-	-	3,229
on January 10, 2003		44,446	3,229	-	-	-	3,229
on January 21, 2003		88,890	6,458	-	-	-	6,458
on March 7, 2003		205,690	14,944	-	-	-	14,944
on March 13, 2003		27,644	2,008	-	-	-	2,008
Stock issued for debt at $0.0725 per share
on January 15, 2003		22,222	1,615	-	-	-	1,615
Imputed interest from shareholder loan		-	-	340	-	-	340
Stock-based compensation on 25,000 options granted		-	-	1,957	-	-	1,957
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	197	-	197
	(Loss) for the year	-	-	-	-	(67,360)	(67,360)
Balance, March 31, 2003		8,117,814	437,194	8,323	188	(443,637)	2,068
Stock issued for cash at $0.0835 per share
on April 2, 2003		88,890	7,403	-	-	-	7,403
on May 13, 2003		44,446	3,702	-	-	-	3,702
on May 21, 2003		44,446	3,702	-	-	-	3,702
on June 23, 2003		133,334	11,105	-	-	-	11,105
on August 1, 2003		44,444	3,702	-	-	-	3,702
on August 6, 2003		44,446	3,702	-	-	-	3,702
on October 24, 2003		50,000	4,164	-	-	-	4,164
on November 18, 2003		50,000	4,164	-	-	-	4,164
Stock issued for debt at $0.0835 per share
on April 15, 2003		22,222	1,851	-	-	-	1,851
on July 15, 2003		22,222	1,851	-	-	-	1,851
on October 15, 2003		22,222	1,851	-	-	-	1,851
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(265)	-	(265)
	(Loss) for the year	-	-	-	-	(63,056)	(63,056)
Balance, March 31, 2004		8,684,486	484,390	8,323	(77)	(506,693)	(14,057)
Stock issued for cash at $0.039 per share
on June 15, 2004		1,200,000	47,054	-	-	-	47,054
on June 30, 2004		400,000	15,685	-	-	-	15,685
on December 17, 2004		1,510,000	59,210	-	-	-	59,210
Forgiveness of debt by a director and shareholder		-	-	3,921	-	-	3,921
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(12,847)	-	(12,847)
	(Loss) for the year	-	-	-	-	(65,452)	(65,452)
Balance, March 31, 2005		11,794,486	606,339	12,244	(12,924)	(572,145)	33,514
Exercise of warrants at $0.042 per share
on July 28, 2005		200,000	8,385	-	-	-	8,385
on September 14, 2005		100,000	4,193	-	-	-	4,193
Stock issued for debt at $0.042 per share
on March 15, 2006		395,600	16,586	-	-	-	16,586
Forgiveness of debt by a director and shareholder		-	-	34,798	-	-	34,798
Imputed interest from shareholder loan		-	-	350	-	-	350
Stock-based compensation on 450,000 options granted		-	-	31,972	-	-	31,972
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	1,059	-	1,059
	(Loss) for the year	-	-	-	-	(112,773)	(112,773)

(See accompanying notes to the financial statements)

-5-

CORONUS SOLAR INC.
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
December 3, 2001 (inception) to September 30, 2012
(Expressed in U.S. Dollars)
				ACCUMULATED	DEFICIT
				OTHER	ACCUMULATED
			ADDITIONAL	COMPREHENSIVE	DURING	TOTAL
	COMMON		PAID-IN	INCOME	DEVELOPMENT	STOCKHOLDERS’
	SHARES	AMOUNT	CAPITAL	(LOSS)	STAGE	EQUITY

Balance, March 31, 2006		12,490,086	635,502	79,364	(11,865)	(684,918)	18,083
Stock issued for cash at $0.044 per share
on November 24, 2006		600,000	26,369	-	-	-	26,369
on December 7, 2006		400,000	17,579	-	-	-	17,579
Forgiveness of debt by a director and shareholder		-	-	31,643	-	-	31,643
Imputed interest from shareholder loan		-	-	939	-	-	939
Stock-based compensation on 100,000 options granted		-	-	7,932	-	-	7,932
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(108)	-	(108)
	(Loss) for the year	-	-	-	-	(65,430)	(65,430)
Balance, March 31, 2007		13,490,086	679,450	119,877	(11,973)	(750,348)	37,006
Stock issued for debt at $0.0485 per share
on May 4, 2007		52,500	2,548	-	-	-	2,548
Forgiveness of debt by a director and shareholder		-	-	34,950	-	-	34,950
Imputed interest from shareholder loan		-	-	1,126	-	-	1,126
Stock-based compensation on 100,000 options granted		-	-	8,787	-	-	8,787
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	4,447	-	4,447
	(Loss) for the year	-	-	-	-	(96,432)	(96,432)
Balance, March 31, 2008		13,542,586	681,999	164,740	(7,526)	(846,780)	(7,567)
Forgiveness of debt by a director and shareholder		-	-	31,932	-	-	31,932
Imputed interest from shareholder loan		-	-	2,228	-	-	2,228
Stock-based compensation		-	-	55,180	-	-	55,180
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	10,232	-	10,232
	(Loss) for the year	-	-	-	-	(172,863)	(172,863)
Balance, March 31, 2009		13,542,586	681,999	254,080	2,706	(1,019,643)	(80,858)
Stock issued for acquisition of Coronus Energy Corp.
on November 2, 2009		2,000,000	10,752	10,886	-	-	21,638
Forgiveness of debt by a director and shareholder		-	-	33,015	-	-	33,015
Imputed interest from shareholder loan		-	-	4,997	-	-	4,997
Stock-based compensation		-	-	26,144	-	-	26,144
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(25,943)	-	(25,943)
	(Loss) for the year	-	-	-	-	(155,180)	(155,180)
Balance, March 31, 2010		15,542,586	$ 692,751	$ 329,122	$ (23,237)	$ (1,174,823)	$ (176,187)
Stock issued for cash at $0.402 per share
on January 21, 2011 (net of share issuance cost)		212,500	70,693	-	-	-	70,693
Stock issued for construction of solar power plants on March 31, 2011		10,974,000	6,584,400	-	-	-	6,584,400
Forgiveness of debt by a director and shareholder		-	-	35,420	-	-	35,420
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	(11,701)	-	(11,701)
	(Loss) for the year	-	-	-	-	(170,028)	(170,028)
Balance, March 31, 2011		26,729,086	7,347,844	364,542	(34,938)	(1,344,851)	6,332,597
Stock issued for cash at $0.624 per share
on May 10, 2011		350,000	120,838	90,628	-	-	211,466
Stock issued for cash at $0.598 per share
on October 24, 2011		17,000	5,770	4,501	-	-	10,271
Forgiveness of debt by a director and shareholder		-	-	38,165	-	-	38,165
Warrants and conversion beneficiary features		-	-	100,698	-	-	100,698
Comprehensive income (loss):
	Currency translation adjustment	-	-	-	8,706	-	8,706
	(Loss) for the year	-	-	-	-	(370,798)	(370,798)
Balance, March 31, 2012		27,096,086	$ 7,474,452	$ 598,534	$ (26,232)	$ (1,715,649)	$ 6,331,105
Stock cancelled for amendment of agreement on
	August 15, 2012	(9,876,600)	$ (5,925,960)	-	-	-	(5,925,960)
Comprehensive income :							-
	Currency translation adjustment	-	-	-	(1,493)	-	(1,493)
	Income for the period	-	-	-	-	1,372,860	1,372,860
Balance, September 30, 2012 (Unaudited)		17,219,486	$ 1,548,492	$ 598,534	$ (27,725)	$ (342,789)	$ 1,776,512

(See accompanying notes to the financial statements)

-6-

CORONUS SOLAR INC.
(A Development Stage Enterprise)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Unaudited)
								Cumulative from
				Six months ended				inception
				September 30,				(December 3, 2001) to
				2012		2011		September 30, 2012
OPERATING ACTIVITIES
	Net income (loss) from operations		$	1,372,860	$	(173,429)	$	(342,789)
	Adjustments to reconcile net loss to net cash
		used in operating activities:
		Amortization		3,603		3,611		56,750
		Foreign exchange gain/loss		-		2,748		(20,930)
		Forgiveness of debt		-		39,016		249,069
		Imputed interests		-		-		27,873
		Share issued for services / debts		-		-		26,301
		Stock based compensation		-		-		492,309
		Amortization on discount of convertible notes		86,818		-		102,016
		Gain on sale of assets		(1,717,024)		-		(1,717,024)
		Write down of website development costs		-		-		17,390
		Write-off trademark cost		-		-		279
	Changes in non-cash working capital:
		Other receivables		(5,544)		(4,420)		(5,189)
		Prepaid expenses		(167,379)		(16,252)		(233,399)
		Accounts payables and accrued liabilities		(120,399)		19,636		57,280
NET CASH USED IN OPERATING ACTIVITIES				(547,065)		(129,090)		(1,290,064)
INVESTING ACTIVITIES
	Property, plant and equipment			-		-		(1,871)
	Land acquisition			(229,354)		(38,220)		(361,944)
	Land Deposit			-		15		(46,408)
	Net proceeds on sales of assets			1,723,710		-		1,723,710
	Intangible asset			-		-		(369)
NET CASH USED IN INVESTING ACTIVITIES				1,494,356		(38,205)		1,313,118
FINANCING ACTIVITIES
	Issuance of common shares			-		218,522		591,861
	Loan from a shareholder			(242,466)		(37,585)		(46,849)
	Payment of deferred financing fee			-		(10,667)		-
	Note payable			-		-		37,100
	Convertible note payable			(101,965)		-		(1,267)
NET CASH FROM FINANCING ACTIVITIES				(344,432)		170,270		580,844
EFFECT OF EXCHANGE RATE ON CASH				(2,525)		(6,477)		(3,237)
NET INCREASE (DECREASE) IN CASH				600,284		(3,502)		600,611
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - Beginning of Period				327		6,233		-
CASH AND CASH EQUIVALENTS - End of Period			$	600,661	$	2,731	$	600,661
SUPPLEMENTAL CASH FLOWS INFORMATION
	Interest expense paid in cash		$	34,994	$	7,765	$	52,630
	Taxes paid in cash		$	-	$	-	$	-
NON-CASH FINANCING ACTIVITIES
	Issuance of common shares for acquisition of Coronus Energy Corp.		$	-	$	-	$	21,638
	Establishment of intangible asset through acquisition of Coronus Energy Corp.		$	-	$	-	$	21,500
	Issuance of common shares for construction of solar power plant		$	-	$	-	$	6,584,400
	Cancellation of common shares for amendment of the agreement		$	5,925,960	$	-	$	5,925,960

(See accompanying notes to the financial statements)

-7-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 1 – Nature of Operations

Coronus Solar Inc. (“the Company”) was incorporated under the Canada Business Corporations Act on December 3, 2001 under the name “The LectureNet Learning Corporation” and was registered extra-provincially in the Province of British Columbia on January 24, 2002. The name of the Company was changed to InsightfulMind Learning, Inc. effective August 26, 2002 and was further changed to Coronus Solar Inc. on November 3, 2009.

The Company’s current business is to deploy and operate utility-scale solar power systems in the State of California, U.S.A. The Company is located in the City of Vancouver, Province of British Columbia, Canada.

On November 2, 2009, the Company completed an agreement (the “Share Purchase Agreement”) to acquire all of the issued and outstanding shares of Coronus Energy Corp. (“Coronus”), a start-up stage company founded to deploy and operate utility-scale solar power systems in the State of California. Under the Share Purchase Agreement, the Company acquired all of the outstanding shares of Coronus in exchange for 2,000,000 (post stock forward split) common shares of the Company, at a deemed value of $0.025 per share.

Under the Share Purchase Agreement, 2,025,000 common shares of the Company held by Mr. Jeff Thachuk, President of the Company, were transferred to Mr. Mark Burgert, the sole principal of Coronus, for $1, on August 19, 2009 and an aggregate of 905,000 (post stock forward split) stock options of the Company held by various persons were cancelled on August 10, 2009. Mr. Thachuk was appointed as a director and the Chairman, CEO, CFO, Secretary and Treasurer of Coronus, with Mr. Burgert continuing to hold the office of President of Coronus.

The transfer of the 2,025,000 common shares of the Company held by Mr. Thachuk to Mr. Burgert was treated, as a contribution by Mr. Thachuk, as part of the consideration for the acquisition of Coronus. Accordingly, a total of 4,025,000 common shares was determined as the consideration for the acquisition.

The Company engaged Mr. Burgert as a consultant, and in consideration for this engagement, granted to Mr. Burgert an aggregate of 350,000 options exercisable at a price of $0.065 per share. Additionally, the 9,050,000 common shares of the Company that are now collectively held between Messrs. Thachuk and Burgert have been placed into voluntary escrow, to be released to each of them on the basis of one common share each for each $0.50 earned in revenue by the Company on a consolidated basis.

Note 2 – Basis of Presentation - Going Concern Uncertainties

The Company is considered a development stage company as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities”. The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern.  However, the Company has limited operations and has sustained operating losses in recent years resulting in an accumulated deficit. In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon the continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements, and the success of its future operations.

The Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. Management plans to obtain additional financing through the issuance of shares, in order to allow the Company to complete its development phase and commence earning revenue. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities other than in the normal course of business.

The Company will seek additional equity as necessary and it expects to raise funds through private or public equity investment in order to support existing operations and expand the range of its business. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all.

Information on the Company’s working capital and deficit is:

		September 30,		March 31,
		2012		2012
Working capital (deficiency)	$	723,557	$	(390,180)
Deficit		342,789		1,715,649

-8-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 3 – Summary of Significant Accounting Policies

The accompanying unaudited consolidated interim financial statements have been prepared in accordance with the instruction from Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and notes normally provided in the audited financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for fiscal year ended March 31, 2012 filed with the United States Securities and Exchange Commission. The result of operations for the interim periods presented is not necessarily indicative of the results to be expected for the full year.

The accompanying unaudited consolidated interim balance sheets, statements of operations and comprehensive income (loss), stockholders’ equity and cash flows reflected all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of the Company, at September 30, 2012, and the results of operations and cash flows for the six months ended September 30, 2012, and for the period from December 3, 2001 (Date of Commencement) to September 30, 2012.

Note 4 – Accounting Pronouncements Adopted During the Period

(i) Presentation of Comprehensive Income

On April 1, 2012, the Company adopted the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”. ASU 2011-05 provides guidance on the presentation of comprehensive income. This guidance eliminates the current option to report other comprehensive income and its components in the statement of changes in equity. The guidance allows two presentation alternatives: (1) present items of net income and other comprehensive income in one continuous statement, referred to as the statement of comprehensive income; or (2) in two separate, but consecutive, statements of net income and other comprehensive income. The Company has chosen alternative 1 for the presentation of comprehensive income.

Note 5 – New Accounting Pronouncements

(i) Disclosures About Offsetting Assets and Liabilities

In December, 2011, the FASB issued ASU 2011-11, “Disclosures about Offsetting Assets and Liabilities”, in an effort to improve comparability between US GAAP and IFRS financial statements with regard to the presentation of offsetting assets and liabilities on the statement of financial position arising from financial and derivative instruments, and repurchase agreements. The ASU establishes additional disclosures presenting the gross amounts of recognized assets and liabilities, offsetting amounts, and the net balance reflected in the statement of financial position. Descriptive information regarding the nature and rights of the offset must also be disclosed. This guidance is effective as of the beginning of a fiscal year that begins after January 1, 2013. The adoption of the new guidance is not expected to have an impact on the Company’s financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

Note 6 – Earnings (Loss) per Share

The calculation of basic earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $774,370 and $1,372,860 respectively, and a weighted average number of common shares outstanding of 22,050,432 and 24,559,473.

The calculation of diluted earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $774,370 and $1,372,860 respectively, and a diluted weighted average number of common shares outstanding of 22,875,748 and 25,384,789.

The calculation of basic loss per share for the three months and six months ended September 30, 2011 was based on the net loss attributable to common shareholders of $92,876 and $173,429 respectively, and a weighted average number of common shares outstanding of 27,079,086 and 27,004,496.

The calculation of diluted loss per share for the three months and six months ended September 30, 2011 was antidilutrive as the Company incurred a net loss attributable to common shareholders of $92,876 and $173,429 respectively.

-9-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 6 – Earnings (Loss) per Share - Continued

(a) Basic earnings per share

Weighted average number of common shares for basic earnings (loss) per share calculations:

	Three months ended		Six months ended
	September 30,		September 30,
	2012	2011	2012	2011
Issued common share at April 1	27,096,086	26,729,086	27,096,086	26,729,086
Issued during the period	-	350,000	-	275,410
Cancelled during the period	(5,045,654)	-	(2,536,613)	-
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496

(b) Diluted earnings per share

Weighted average number of common shares for diluted earnings (loss) per share calculations:

	Three months ended		Six months ended
	September 30,		September 30,
	2012	2011	2012	2011
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496
Effect of share options on issue	691,900	-	691,900	-
Effect of share warrants on issue	133,417	-	133,417	-
Diluted Weighted average number of common shares at September 30	22,875,748	27,079,086	25,384,789	27,004,496

For the three months and six months ended September 30, 2011, 740,000 share options and 533,666 share warrants were excluded from the diluted weighted average number of common shares calculation as their effect would have been anti-dilutive.

The average market value of the Company’s shares for purposes of calculating the dilutive effect of share options and warrants was based on quoted market prices for the period during which the options were outstanding.

Note 7 - Property, Plant and Equipment

Property, plant and equipment at September 30, 2012 and March 31, 2012 were summarized as follows:

				Accumulated		Net book
September 30, 2012		Cost		depreciation		value
Office equipment	$	1,396	$	1,256	$	140
Computer equipment		1,067		1,034		33
Land		934,744		-		934,744
	$	937,207	$	2,290	$	934,917

				Accumulated		Net book
March 31, 2012		Cost		depreciation		value
Office equipment	$	1,373	$	1,220	$	153
Computer equipment		1,051		1,014		37
Land		334,599		-		334,599
	$	337,023	$	2,234	$	334,789

-10-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 7 - Property, Plant and Equipment - Continued

Acquisition of Vacant Land

(i) Twentynine Palms East

On August 28, 2010, the Company’s wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Vacant Land Purchase Agreement (“the “Twentynine Palms East Agreement”) to acquire a 30 acre parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $32,000. The transaction closed on January 24, 2011.

(ii) Newberry Springs

On January 24, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Newberry Springs Agreement”) to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on March 17, 2011.

(iii) Twentynine Palms North

On January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Twentynine Palms North Agreement”) to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $40,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on May 16, 2011.

(iv) Joshua Tree East

On May 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”) to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The purchase price was $200,000. Coronus paid $30,000 and the vendor agreed to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on June 30, 2011.

(v) Adelanto West Agreement

On September 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Adelanto West Agreement”) to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. The purchase price was $400,000. Coronus paid $165,000 and the vendor agreed to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on April 19, 2012.

(vi) Yucca Valley East Agreement

On October 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement”) to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The purchase price was $170,000. Coronus paid $34,000 and the vendor agreed to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on August 17, 2012.

Note 8 - Construction in Progress

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011. Under the amended agreement (the “Amended Solar Power Systems Agreement”), the parties agreed to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis. As additional purchase and sale consideration, Belectric kept 1,097,400 of the original payment shares. Accordingly, 9,876,600 of the original payment shares were cancelled, resulting to a reduction of construction in progress of $5,925,960 [see Note 18(a)].

As of September 30, 2012, the Company recorded Construction in Progress of $658,440.

-11-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 9 - Intangible Assets

The Business Plan was acquired through the acquisition of Coronus Energy Corp. on November 2, 2009. The capital cost was amortized over 3 years.

Intangible assets at September 30, 2012 and March 31, 2012 were summarized as follows:

		Accumulated		Net book
September 30, 2012	Cost	amortization	Write-off	value
Business plan	21,500	20,902	-	598

		Accumulated		Net book
March 31, 2012	Cost	amortization	Write-off	value
Business plan	21,500	17,320	-	4,180

Note 10 - Sycamore Solar Photovoltaic Asset Sale Agreement

On April 5, 2012, Coronus, the Company’s wholly-owned subsidiary, entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC. On March 19, 2012, Coronus Hesperia West 1 LLC entered into a Power Purchase Agreement (“PPA”) with Southern California Edison (“SCE”). The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system (the “Coronus Hesperia West 1 Project”) on the 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to the Hesperia West Agreement [see Note 18(c)(i)].  Additionally, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to assign to Sycamore, the Hesperia West Agreement. Further, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West 20 acre parcel, and to sell this PPA (relating to a 1.5 MW solar PV system) to Sycamore if obtained.

Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $1,726,219 (the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019, to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole ownership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Agreement to Sycamore.

On August 30, 2012, Coronus’ wholly-owned subsidiary, Coronus Hesperia West 2 LLC, entered into a PPA with SCE. Having obtained the second PPA on the Hesperia West land parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, of $909,019 to Coronus, and Coronus transferred the sole membership in Coronus West 2 LLC to Sycamore, thus concluding the Sycamore Solar PV Asset Sale Agreement.

The Company recorded a gain on the sale of the Coronus Hesperia West 1 and 2 Projects of $1,717,024 as of September 30, 2012.

Note 11 - Loan From A Shareholder

Loan from a shareholder represents a series of loans from a director and shareholder of the Company which were unsecured and due on demand.

During the year ended March 31, 2012, the director and shareholder lent the Company a further CAD$39,300 (USD$39,335). The additional loan was unsecured and due on demand, and accrued interest at the annual rate of 4%.

During the year ended March 31, 2012, the director and shareholder was repaid by the Company CAD$66,800 (USD$66,831) of the principal amount owing, in respect of the loan.

-12-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 11 - Loan From A Shareholder - Continued

On April 18, 2012, the Company repaid, in full, the shareholder loan owed to the director and shareholder, inclusive of interest outstanding. Additionally, included in accounts payable as at April 18, 2012, CAD$1,292 was owed to our principal executive officer for out-of-pocket expenses.  On April 18, 2012, the Company repaid, in full, the out-of-pocket expenses outstanding, as at April 18, 2012. Accordingly, inclusive of the loan principal, interest owing, and out-of-pocket expenses incurred, in aggregate, on April 18, 2012, the Company repaid the director and shareholder CAD$237,780 and USD$7,021.

On September 12, 2012, the Company repaid, in full, the management fees of CAD$48,000 accrued to the director and shareholder for the prior year’s services provided.

At September 30, 2012, the Company has accrued interest payable of $nil (March 31, 2012: $17,991).

Note 12 - Notes Payable

Notes payable at September 30, 2012 is summarized as follows:

		September 30,		March 31,
Vacant Land		2012		2012
Twentynine Palms North	$	-	$	32,084
Joshua Tree East		170,000		170,000
Adelanto West		235,551		-
Yucca Valley East		136,366		-
	$	541,917	$	202,084
Current
Newberry Springs	$	37,100	$	37,100
Twentynine Palms North		32,084		-
	$	69,184	$	37,100
Total	$	611,101	$	239,184

On March 17, 2011, Coronus completed the Newberry Springs Vacant Land Purchase Agreement to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $100 (March 31, 2012: $100).

On May 16, 2011, Coronus completed the Twentynine Palms North Vacant Land Purchase Agreement to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $84 (March 31, 2012: $84).

On June 30, 2011, Coronus completed the Joshua Tree East Vacant Land Purchase Agreement to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only.

On April 19, 2012, Coronus completed the Adelanto West Vacant Land Purchase Agreement to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. The vendor agreed to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $551 (March 31, 2012: $nil).

On August 17, 2012, Coronus completed the Yucca Valley East Vacant Land Purchase Agreement to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $366 (March 31, 2012: $nil).

-13-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 13 – Promissory Note

On August 10, 2012, the Company issued a promissory note for CAD$40,000 (the “Note”). The Note bore an annual interest rate of 12%, and was due on demand. The Note had a first priority interest in all the assets of the Company. On September 10, 2012, the promissory note was repaid in full with the interest payment of CAD$408.

Note 14 – Convertible Promissory Notes

On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The notes had a first priority interest in all the assets of the Company. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years.

According to ASC 470, the proceeds received in a financing transaction should first be allocated to the convertible promissory notes and the detached warrants on a relative fair value basis. The allocated value of the detached warrants is recorded in paid-in-capital. ASC 470 should then be applied to the amount allocated to the convertible promissory note, and an effective conversion price should be calculated and used to measure the intrinsic value, if any, of the embedded conversion option. The intrinsic value of the conversion option is recognized as a reduction to the carrying amount of the convertible debt and an addition to the paid-in-capital.

The Company determined that the amounts allocated to the convertible promissory notes, the embedded conversion beneficiary features option, and warrants are CAD$nil, CAD$43,429, and CAD$56,571, respectively.

The discount on issuance of the convertible promissory notes, CAD$100,000, is being amortized over the life of the notes. During the year ended March 31, 2012, an amount of CAD$15,184 (USD$15,198) was amortized.

	US$	CAD$
Face value	100,090	100,000
Effective interest (137%)	(84,892)	(84,816)
	15,198	15,184

On April 20, 2012, the Company repaid, in full, the CAD$50,000 in principal and CAD$1,282 in interest owing against the first note, and the CAD$50,000 in principal and CAD$937 in interest owing against the second note. An amount of CAD$5,356 (USD$5,302) was amortized for the period from April 1 to April 19, 2012. The balance of the discount on issuance of the convertible promissory notes, $80,237, was written off as expenses.

Note 15 - Stockholders’ Equity

(a) Common Stock

On December 5, 2001, the Company (i) issued 6,750,000 common shares for cash to the founder and sole director of the Company at $0.0002 per share; (ii) issued 75,000 common shares for service to a party related to the founder of the Company at $0.0525 per share; and (iii) issued 300,000 common shares for cash to the sole director of the Company pursuant to a private placement at $0.0525 per share. The Company recorded the 6,750,000 shares issued to the founder at fair value at $0.0525 per share and recorded a stock based compensation of $352,337.

For the fiscal year ended March 31, 2003, the Company issued (i) 235,294 units for cash at $0.055 per unit for total proceeds of $12,916; (ii) issued 500,004 common shares for cash at $0.0725 per share for total proceeds of $36,326; (iii) issued 235,294 common shares upon the exercise of warrants for cash at

$0.055 per share for total proceeds of $12,916; and (iv) issued 22,222 common shares for the settlement of debt at $0.0725 per share for the total debt of $1,615. In connection with the above unit issuance, each unit consisted of one common share and one share purchase warrant with an exercise price at $0.055 per share. The Company adopted the residual approach and allocated the total proceeds to the common shares and $nil to the share purchase warrants.

For the fiscal year ended March 31, 2004, the Company (i) issued 500,006 common shares for cash at $0.0835 per share for total proceeds of $41,644; and (ii) issued 66,666 common shares for the settlement of the debt at $0.0835 for the total debt of $5,552.

-14-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 15 - Stockholders’ Equity - Continued

(a) Common Stock - Continued

For the fiscal year ended March 31, 2005, the Company (i) issued 1,200,000 units for cash at $0.039 per unit for total proceeds of $47,054; and (ii) issued 1,910,000 common shares for cash at $0.039 per share for total proceeds of $74,895. Each unit consisted of one common share and one share purchase warrant with an exercise price at $0.039 per share. The Company adopted the residual approach and allocated the total proceeds to the common stocks and $nil to the share purchase warrants.

For the fiscal year ended March 31, 2006, the Company (i) issued 300,000 common shares at $0.042 per share pursuant to the exercise of warrants for total proceeds of $12,578; and (ii) issued 395,600 common shares at $0.042 per share for the settlement of debt of $16,586.

For the fiscal year ended March 31, 2007, the Company issued 1,000,000 common shares for cash at $0.044 per share for total proceeds of $43,948.

For the fiscal year ended March 31, 2008, the Company issued 52,500 common shares at $0.0485 per share for the settlement of debt of $2,548.

On November 2, 2009, the Company issued 2,000,000 common shares in connection with the acquisition of all the issued and outstanding shares of Coronus at a deemed value of $0.025 per share.  These shares were recorded, proportionately with the shares transferred by Mr. Jeff Thachuk to Mr. Mark Burgert, based on the fair value of the assets acquired.

On January 21, 2011, the Company completed a non-brokered private placement, issuing 212,500 shares of common stock to eleven investors, at a price of CAD$0.402 per share, for gross proceeds of CAD$85,000. In connection with the completion of the private placement, the Company paid CAD$7,500 in finder’s fees in cash, to certain arm’s length parties, and CAD$6,807 in legal, accounting, transfer agent and filing fees.

On March 31, 2011, the Company and its wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW_ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a  deemed value of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress.

On May 10, 2011, the Company completed a non-brokered private placement of 350,000 units at a price of CAD $0.60 per unit for proceeds of CAD $210,000. Each unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$90,000 ($93,652). See Note 15(c).

On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$4,470 ($4,452). See Note 15(c).

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011 [see Note 18(a)]. Under the amended agreement (the “Amended Solar Power Systems Agreement”), 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, at the deemed price of $1.05 per share. The fair value per share at the date of cancellation was $0.60.

As at September 30, 2012, 10,226,900 (March 31, 2012: 20,103,500) shares of the Company’s common stock were restricted shares.

-15-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 15 - Stockholders’ Equity - Continued

(b) Stock Options

Since inception, the Company has entered into various stock option agreements with its directors, employees and consultants.

During the period ended September 30, 2012 and year ended March 31, 2012, there were no options granted or exercised.

Changes in stock options for the period ended September 31, 2012 and year ended March 31, 2012 are summarized as follows:

	Options Outstanding
	Number of		Weighted average
	shares		exercise price
Balance, March 31, 2012 and 2011	745,000	$	0.065
Expired	(5,000)		0.105
Balance, September 30, 2012	740,000	$	0.065

The Company has the following options outstanding and exercisable at September 30, 2012:

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	September 30,	Contractual		Exercise	September 30,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$                0.065	740,000	3.15	$	0.065	740,000	$	0.065

The Company has the following options outstanding and exercisable at March 31, 2012:

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	March 31,	Contractual		Exercise	March 31,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$              0.065	740,000	3.65	$	0.065	740,000	$	0.065
0.105	5,000	0.11		0.105	5,000		0.105
$0.065 - $0.105	745,000	3.63	$	0.065	745,000	$	0.065

(c) Warrants

On May 10, 2011, the Company completed a non-brokered private placement, issuing 350,000 units (the “Units”), at a price of CAD$0.60 per Unit, for proceeds of CAD$210,000. Each Unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.257 per warrant using the Black-Scholes option pricing model.

On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.263 per warrant using the Black-Scholes option pricing model.

-16-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 15 - Stockholders’ Equity - Continued

(c) Warrants - Continued

On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be CAD$0.7816 per warrant using the Black-Scholes option pricing model.

The fair value of the warrants issued during the year ended March 31, 2012 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

	Year ended
	March 31, 2012
Expected volatility		100.13% - 105.17	%
Risk free interest rate		1.10% - 1.91	%
Expected life	5 years
Dividend yield		0.00	%

The relative estimated fair value of the warrants in relation to the private placements in May 2011, October 2011, and February 2012 were CAD$90,000 (USD$90,628), CAD$4,470 (USD$4,501), and CAD$56,571 (USD$56,966), respectively, and were allocated to the additional paid-in capital.

As of September 30, 2012, 533,666 warrants remained outstanding.

The Company has the following warrants outstanding at September 30, 2012:

							Exercise		Average
Balance	Issued	Exercised	Cancelled	Balance	Exercise		price		Remaining
as at	during the	during the	during the	as at	price		(USD		Contractual
3/31/2012	period	period	period	9/30/2012	(CAD)		equivalent)		Life in Years
350,000	-	-	-	350,000	$	0.75	$	0.74	3.61
17,000	-	-	-	17,000	$	0.75	$	0.74	4.07
166,666	-	-	-	166,666	$	0.75	$	0.74	4.35
533,666	-	-	-	533,666	$	0.75	$	0.74	3.85

The Company has the following warrants outstanding at March 31, 2012:

							Exercise		Average
Balance	Issued	Exercised	Cancelled	Balance	Exercise		price		Remaining
as at	during the	during the	during the	as at	price		(USD		Contractual
3/31/2011	period	period	period	3/31/2012	(CAD)		equivalent)		Life in Years
-	350,000	-	-	350,000	$	0.75	$	0.74	4.11
-	17,000	-	-	17,000	$	0.75	$	0.74	4.57
-	166,666	-	-	166,666	$	0.75	$	0.74	4.88
-	533,666	-	-	533,666	$	0.75	$	0.74	4.37

The warrants are not a derivative instrument.

-17-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 16 - Contingent Liabilities

Management of the Company has opted for the Company to self-insure against business and liability risks rather than purchase third party insurance coverage. Consequently the Company is exposed to financial losses or failure as a result of these risks.

Note 17 - Related Party Transactions

During the three months and six months ended September 30, 2012, the Company paid $297 (2011: $413) and $297 (2011: $413) in director fees to the directors of the Company, respectively.

During the three months and six months ended September 30, 2012, $nil (2011 management fees: $23,941), $nil (2011 management fees: $38,409) of management fees were accrued. Effective April 1, 2012, the executive officer is remunerated by payroll.

As at September 30, 2012, included in accounts payable, $nil (March 31, 2012: $49,233) was owed to a director of the Company.

As at September 30, 2012, included in notes payable, $nil (March 31, 2012: $17,991) was accrued as interest payable for loan from a director of the Company.

See also Note 11 and Note 19(c).

Note 18 – Commitments

(a) Purchase of Solar Photovolatic Power Systems

On March 31, 2011, the Company and Coronus entered into a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW_ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a deemed price of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress when the agreement was first entered into.

On August 15, 2012, the Company amended the purchase agreement for the Solar Power Systems with Belectric. Under the amended agreement (the “Amended Solar Power Systems Agreement”), the provision of Coronus to purchase a total of 21 MW of utility-scale, ground-mount, solar PV power systems from Belectric, for consideration of $76,818,000, exclusive of taxes (the “Original Basic Price”), was modified. Under the Amended Solar Power Systems Agreement, Coronus and Belectric agree to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis (the “Purchase and Sale Agreements”). The Amended Solar Power Systems Agreement is effective as of August 15, 2012, and shall remain in full force and effect for three years (the “Three Year Term”), but shall expire prior to the Three Year Term provided Coronus and Belectric enter into Purchase and Sale Agreements totaling 100 MW of solar power systems prior to the expiry of the Three Year Term. Further, throughout the term of the Amended Solar Power Systems Agreement, Belectric retains the exclusive right to negotiate Purchase and Sale Agreements with Coronus for solar power systems.

On entering into the original Solar Power Systems Agreement, the Company paid 15% of the Original Basic Price, or $11,522,700, by way of issuing 10,974,000 shares (the “Original Payment Shares”) of its common stock to Belectric, at a deemed price of $1.05 per share. Under the Amended Solar Power Systems Agreement, as additional purchase and sale consideration, Belectric kept 1,097,400 of the Original Payment Shares. Accordingly, 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012.

(b) Advisory Service Agreement

On August 8, 2011, the Company entered into a financial advisory service agreement (the “Advisory Agreement”) with Source Capital Group Inc (“SCG”). Under the Advisory Agreement, SCG shall use its best efforts to provide up to $80,000,000 in financing (the “Financing”) for the Company and/or the Company’s affiliates. The financing may consist of debt (the “Debt Financing”) or equity (the “Equity Financing”) or both. Under the Advisory Agreement, SCG shall be compensated 6% cash and 6% 5 year warrants priced at 100% of any offering price on any Equity Financing raised by SCG. In addition, SCG shall be compensated 3% cash on any Debt Financing raised by SCG.

As at September 30, 2012, $nil (March 31, 2012: $20,000) had been expensed related to the advisory service agreement.

The term of the Advisory Agreement is 120 days from August 8, 2011 (the “Expiration Date”), and will be automatically renewed on a monthly basis until canceled in writing by either the Company or SCG. The Advisory Agreement may be terminated upon 60 days written notice without cause by either the Company or SCG at any time before the Expiration Date.

-18-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 18 – Commitments - Continued

(b) Advisory Service Agreement - Continued

Under the original Advisory Agreement, the Company’s relationship with SCG was exclusive. Effective December 8, 2011, the relationship with SCG is no longer exclusive.

(c) Acquisition of Vacant Land

(i) Phelan South Agreement

On April 25, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “Phelan South Agreement”) to acquire a 40 acre parcel of vacant land, situated in Phelan, an unincorporated community in the County of San Bernardino, California. The purchase price is $350,000, all cash. Coronus deposited $1,000 into escrow and agrees to deposit an additional $349,000 within sufficient time to close escrow. Initially, close of escrow was August 15, 2012, but was extended to September 15, 2012 and further extended to March 15, 2013. Under the Phelan South Agreement, the Seller agrees to include, and transfer to Coronus, one share of Sheep Creek Water Co. Additionally, on closing, Coronus agrees to pay the realtor commission of $5,000. Initially, the Phelan South Agreement was subject to Coronus’ Board of Director approval on or before July 31, 2012, but this approval was extended to on or before August 31, 2012 and further extended to on or before February 28, 2013. Additionally, Coronus is now required to make the following, non-refundable payments to the Seller, separate from the purchase price:

September 30, 2012 - $1,726 (paid on September 30, 2012)

October 31, 2012 - $1,784 (paid on October 31, 2012)

November 30, 2012 - $1,726

December 31, 2012 - $1,784

January 31, 2013 - $1,784

February 28, 2013 - $1,611

March 15, 2013 - $863

(d) Entry into Utility Interconnection Studies

(i) SIS Study Agreements for Projects Coronus Joshua Tree East 1, 2 and 3

On February 23, 2012, Coronus entered into three System Impact Study Agreements (the “SIS Study Agreement for Coronus Joshua Tree East 1”, the “SIS Study Agreement for Coronus Joshua Tree East 2”, and the “SIS Study Agreement for Coronus Joshua Tree East 3”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California, Coronus acquired on June 30, 2011 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the three PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed by September 1, 2012. On entering into the SIS Study Agreements, Coronus paid SCE the three $10,000 deposits, for a total payment of $30,000. On October 15, 2012, Coronus received the SIS Study Agreements for Coronus Joshua Tree East 1, 2 and 3.

(ii) SIS Study Agreements for Projects Coronus Adelanto West 1 and 2

On April 13, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Adelanto West 1” and the “SIS Study Agreement for Coronus Adelanto West 2”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on the 40 acre parcel of vacant land, situated in the City of Adelanto, California, Coronus acquired on April 19, 2012 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study is $10,000. The results of the SIS studies are anticipated to be completed by November 19, 2012. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000.

-19-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 18 – Commitments - Continued

(d) Entry into Utility Interconnection Studies - Continued

(iii) SIS Study Agreements for Projects Coronus Apple Valley East 1 and 2

On May 3, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Apple Valley East 1” and the “SIS Study Agreement for Coronus Apple Valley East 2”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on SCE’s Tussing 12 kV distribution circuit, situated east of Apple Valley, in the County of San Bernardino, California.

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed within 120 business days. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000. On October 26, 2012, Coronus received the SIS Study Agreements for Coronus Apple Valley East 1 and 2.

(iv) SIS Study Agreements for Projects Coronus Joshua Tree East 4 and 5

On June 25, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Joshua Tree East 4” and the “SIS Study Agreement for Coronus Joshua Tree East 5”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California, Coronus acquired on June 30, 2011 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed within 120 business days. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000. On October 15, 2012, Coronus received the SIS Study Agreements for Coronus Joshua Tree East 4 and 5.

(v) SIS Study Agreement for Project Coronus Yucca Valley East 3

On June 25, 2012, Coronus entered into a System Impact Study Agreement (the “SIS Study Agreement for Coronus Yucca Valley East 3”) with SCE. The SIS Study Agreement relates to Coronus’ application for interconnection service and the CREST tariff for a 1.5 MW solar PV power system on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California, Coronus agrees to acquire pursuant to the Yucca Valley East Agreement [see Note 16(c)(ii)].

The SIS Agreement sets forth the terms and conditions for SCE to perform a system impact study to determine the impacts that would result from interconnecting the PV system and the adequacy of SCE’s electrical system to accommodate it. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of the SIS study is $10,000. The results of the SIS study are anticipated to be completed on December 14, 2012. On entering into the SIS Study Agreement, Coronus paid SCE the $10,000 deposit.

(e) Power Purchase Agreements

(i) Power Purchase Agreements for Projects Coronus Yucca Valley East 1 and 2

On August 30, 2012 (the “Yucca Valley East PPAs Effective Date”), Coronus’ wholly-owned subsidiaries, Coronus Yucca Valley East 1 LLC and Coronus Yucca Valley East 2 LLC, entered into two identical Power Purchase Agreements (the “Yucca Valley East PPAs”) with SCE. The Yucca Valley East PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Yucca Valley East 1 and Yucca Valley East 2 Projects”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California (the “Yucca Valley East Property”), Coronus acquired on August 17, 2012.

-20-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 18 – Commitments - Continued

(e) Power Purchase Agreements - Continued

(i) Power Purchase Agreements for Projects Coronus Yucca Valley East 1 and 2 - Continued

The Yucca Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Yucca Valley East 1 and Yucca Valley East 2 Projects’ generation, net of station use. The term of the Yucca Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Yucca Valley East PPAs. Initial operation of the Yucca Valley East 1 and Yucca Valley East 2 Projects must be no later than eighteen months from the Yucca Valley East PPAs Effective Date. The Yucca Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East PPAs Effective Date, Coronus was required to post and maintain development fees (the “Yucca Valley East Development Securities”) equal to $37,604 per Yucca Valley East PPA. If, on or before initial operation, Coronus demonstrates to SCE’s satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the Yucca Valley East Development Securities to Coronus within thirty days of each facility’s initial operation. The power purchase agreement development securities for Yucca Valley East 1 and 2 of $37,604 and $37,604 were paid on September 27, 2012, respectively.

(ii) Power Purchase Agreements for Projects Coronus 29-Palms North 1, 2 and 3

On August 30, 2012 (the “29-Palms North PPAs Effective Date”), Coronus’ wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, and Coronus 29-Palms North 3 LLC, entered into three identical Power Purchase Agreements (the “29-Palms North PPAs”) with SCE. The 29-Palms North PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems (the “29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects”) in respect of the 12kV distribution circuit that feeds the 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms North Property”), Coronus acquired on May 16, 2011.

The 29-Palms North PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects’ generation, net of station use. The term of the 29-Palms North PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the 29-Palms North PPAs. Initial operation of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects must be no later than eighteen months from the 29-Palms North PPAs Effective Date. The 29-Palms North PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the 29-Palms North PPAs Effective Date, Coronus was required to post and maintain development fees (the “29-Palms North Development Securities”) equal to $38,250 per 29-Palms North PPA. If, on or before initial operation, Coronus demonstrates to SCE’s satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the 29-Palms North Development Securities to Coronus within thirty days of each facility’s initial operation. The power purchase agreement development securities for 29-Palms North 1, 2 and 3 of $38,250, $38,250 and $38,250 were paid on September 27, 2012, respectively.

Note 19 - Subsequent Events

(a) Entry into Utility Interconnection Study Agreement

On October 11, 2012, Coronus entered into a System Impact Study Agreement (the “SIS Agreement for 29-Palms North 4”) with SCE. The SIS Agreement relates to Coronus’ application for interconnection service and the CREST tariff for a 1.5 MW solar photovoltaic power system on SCE’s Sheephole 33kV distribution circuit, situated north of Twentynine Palms, in the County of San Bernardino, California.

The SIS Agreement sets forth the terms and conditions for SCE to perform a system impact study to determine the impacts that would result from interconnecting the PV system and the adequacy of SCE’s electrical system to accommodate it. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of the study is $10,000. The results of the study are anticipated to be completed within 120 business days. On entering into the SIS Agreement, Coronus paid SCE the $10,000 deposit.

-21-

CORONUS SOLAR INC.

(A Development Stage Enterprise)

Notes to Consolidated Financial Statements

(Expressed in U.S. Dollars)

Six Months Ended September 30, 2012

(Unaudited)

Note 19 - Subsequent Events - Continued

(b) Entry into Vacant Land Purchase Agreement

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”). Under the 29-Palms Morongo Agreement, Coronus agrees to acquire a 24.23 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price is $86,683, all cash. Close of escrow is December 31, 2012. Coronus deposited $1,000 into escrow and agrees to deposit an additional $85,683 within sufficient time to close escrow. The 29-Palms Morongo Agreement is subject to Coronus’ board of director approval on or before December 17, 2012.

(c) Entry into Industry Solar PV Asset Sale Agreement

On October 24, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Industry Solar PV Asset Sale Agreement”) with Solar Krafte Utilities Inc. (“Solar Krafte”). Solar Krafte holds a contract to purchase Industry Solar Power Generation Station 1 LLC (“Industry”). Under the Industry Solar PV Asset Sale Agreement, Coronus agreed to purchase Industry from Solar Krafte for $1,250,000 (the “Cash Price”). Industry is a party to a Power Purchase Agreement (the “Industry PPA”) with SCE, under the CREST tariff, for a 1.5 MW concentrated photovoltaic power system (the “Industry System”). Completion of the Industry Solar PV Asset Sale Agreement is contingent on SCE approving 1) a design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, and 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Each party has the right to terminate the Industry Solar PV Asset Sale Agreement effective upon notice to the other party if SCE fails to approve, within 90 days from October 24, 2012, 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel.

On entering into the Industry Solar PV Asset Sale Agreement, Coronus deposited $40,000 with Solar Krafte, refundable to Coronus if SCE refuses to approve 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Under the Industry Solar PV Asset Sale Agreement, Solar Krafte covenanted, represented and warranted to Coronus that (a) Industry was, and will be, a party in good standing to the Industry PPA, as at the date of the Industry Solar PV Asset Sale Agreement and the closing date, and (b) but for the obligations of Industry, pursuant to the Industry PPA, Industry had, and will have, no obligations as at the date of the Industry Solar PV Asset Sale Agreement and the closing date.

The Industry PPA is a standardized, must-take, full buy/ sell, power purchase agreement, where SCE purchases all of the generating facility’s generation, net of station use. The term of the Industry PPA is 20 years. The price SCE pays for the generation shall be premised on the adopted 2009 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Industry PPA. Without the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, initial operation of the generating facility must be no later than June 28, 2013. The Industry PPA includes, but is not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance.

Jeff Thachuk, the Company’s president and a control person of the Company, is the chairman, chief executive officer, and a control person of Solar Krafte. Mark Burgert, a control person of the Company, is the president and a control person of Solar Krafte. On October 24, 2012, the Company’s board of directors approved Coronus’ entry into the Industry Solar PV Asset Sale Agreement. As a director of the Company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the Industry Solar PV Asset Sale Agreement.

-22-

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

This section of the quarterly report on Form 10-Q 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, which apply only as of the date of this quarterly report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operation

Estimates and Assumptions

In the preparation of our financial statements, no estimates have been used since there is insufficient historical information in which to base such estimates.

Trends Affecting Our Business

In the past three and one-half years, solar module prices have been reduced by more than half, due to the impact of the global economic downturn, reduced silicon prices, increased polysilicon supply, and a general oversupply of solar modules on the market. Although we expect solar module prices to stay at current levels, or continue to decline, but not as drastically, a rebound in solar module prices would materially impact the viability of our business model, possibly rendering our model nonviable.

Plan of Operation for the Next Twelve Months

Our efforts are focused on raising capital through the sale of common stock in private placements to position us with sufficient funds to execute on the business plan of Coronus, our wholly-owned subsidiary. Coronus is a development-stage company founded to deploy and operate utility-scale solar photovoltaic (PV) power systems in the State of California. The business plan of Coronus calls for 1) the procurement of 20-year, “must-take” Power Purchase Agreements (PPAs) from Southern California Edison (SCE), under the California Public Utilities Commission’s (CPUC’s) feed-in tariff for small generators, and 2) the development of the corresponding, utility-scale, 1.5 MW solar PV power systems. The “CREST” tariff is SCE’s allocation of the feed-in tariff.

On May 16, 2011, Coronus completed the Vacant Land Purchase Agreement (the “Twentynine Palms North Agreement”), which Coronus entered into on January 23, 2011. Under the Twentynine Palms North Agreement, Coronus acquired a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems in respect of the 12kV distribution circuit that feeds this parcel. To date, we have obtained interconnection study results for three systems, and have entered into three separate PPAs with SCE, under the CREST tariff, in respect of these three systems. In addition to these three systems, we have an additional system under utility study in respect of a 33kV distribution circuit west of the 12kV distribution circuit that feeds this parcel.

On June 30, 2011, Coronus completed the Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”), which Coronus entered into on May 9, 2011. Under the Joshua Tree East Agreement, Coronus acquired a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. At this point in time, we are pursuing interconnection agreements for five 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for the five systems, and have applied to enter into five separate PPAs with SCE, under the CREST tariff, in respect of these five systems.

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On April 19, 2012, Coronus completed the Vacant Land Purchase Agreement (the “Adelanto West Agreement”), which Coronus entered into on September 23, 2011. Under the Adelanto West Agreement, Coronus acquired a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems sited on this parcel. Specifically, we have two systems currently under utility study.

On September 30, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Apple Valley East Agreement”) to acquire a 20 acre parcel of vacant land, situated east of Apple Valley, in the County of San Bernardino, California. At this point in time, we are pursuing interconnection agreements for two 1.5 MW solar PV power systems in respect of the 12kV distribution circuit that feeds this parcel. To date, we have obtained interconnection study results for the two systems, and have applied to enter into two separate PPAs with SCE, under the CREST tariff, in respect of these two systems.

On August 17, 2012, Coronus completed the Vacant Land Purchase Agreement (the “Yucca Valley East Agreement”), which Coronus entered into on October 9, 2011. Under the Yucca Valley East Agreement, Coronus acquired a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for two systems, and have entered into two separate PPAs with SCE, under the CREST tariff, in respect of these two systems. In addition to these two systems, we have one additional system currently under utility study.

On October 24, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Industry Solar PV Asset Sale Agreement”) with Solar Krafte Utilities Inc. (“Solar Krafte”). Solar Krafte holds a contract to purchase Industry Solar Power Generation Station 1 LLC (“Industry”). Under the Industry Solar PV Asset Sale Agreement, Coronus agreed to purchase Industry from Solar Krafte for $1,250,000 (the “Cash Price”). Industry is a party to a Power Purchase Agreement (the “Industry PPA”) with SCE, under the CREST tariff, for a 1.5 MW concentrated photovoltaic power system (the “Industry System”). Completion of the Industry Solar PV Asset Sale Agreement is contingent on SCE approving 1) a design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, and 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Each party has the right to terminate the Industry Solar PV Asset Sale Agreement effective upon notice to the other party if SCE fails to approve, within 90 days from October 24, 2012, 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. We are presently preparing the submission for SCE, asking them for their approvals

In addition to the above, we are presently evaluating further vacant lands, ranging in size between 20 and 50 acres, for purchase. Over the course of the next twelve months, our intention is to acquire further lands, and to submit generating facility interconnection applications to SCE in respect of utility-scale, solar PV power systems to be sited on these lands.

Results of Operations

Three Months Ended September 30, 2012 compared to September 30, 2011

We incurred no interest on shareholder loan expense ($nil) for the quarter ended September 30, 2012, as compared to $2,169 in interest on shareholder loan expense for the quarter ended September 30, 2011. The reason for the decrease was that on April 18, 2012, we repaid, in full, the shareholder loan, and thus ended the accumulation of further interest.

Office and miscellaneous expense decreased by $5,778 or 33% from $17,506 for the three months ended September 30, 2011 to $11,728 for the three months ended September 30, 2012. The principal reason for the decrease was that in the previous quarter, we incurred a $10,000 fee under the Advisory Agreement with SCG.

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Feasibility study expense increased by $47,857 or 191% from $25,000 for the three months ended September 30, 2011 to $72,857 for the three months ended September 30, 2012. The increase was due to the expensed portion of the numerous deposits Coronus paid in the past three quarters to Southern California Edison for interconnection studies completed, in part, in the current quarter.

Foreign exchange loss expense increased by $1,774 or 214% from a gain of $830 for the three months ended September 30, 2011 to a loss of $944 for the three months ended September 30, 2012. The increase was attributable to the fluctuation of the USD/CAD exchange rate.

We achieved $908,030 in gain on sale of assets for the quarter ended September 30, 2012, as compared to no gain on sale of assets ($nil) for the quarter ended September 30, 2011. Pursuant to the Solar PV Asset Sale Agreement, we recorded a gain of $908,030 in respect of the sale of the Coronus Hesperia West 2 Project (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Six Months Ended September 30, 2012 compared to September 30, 2011

Interest on shareholder loan expense decreased by $4,121 or 91% from $4,551 for the six months ended September 30, 2011 to $430 for the six months ended September 30, 2012. The reason for the decrease was that on April 18, 2012, we repaid, in full, the shareholder loan, and thus ended the accumulation of further interest.

Interest and bank charges expense increased by $3,384 or 60% from $5,670 for the six months ended September 30, 2011 to $9,054 for the six months ended September 30, 2012. On April 20, 2012, we repaid, in full, the principal and interest owning on two convertible promissory notes. In the current period, an amount of $5,302 was amortized as a discount on the convertible notes, for the period from April 1 to April 19, 2012.

Office and miscellaneous expense decreased by $5,374 or 17% from $31,439 for the six months ended September 30, 2011 to $26,065 for the six months ended September 30, 2012. The principal reason for the decrease was that in the previous period, we incurred a $10,000 fee under the Advisory Agreement with SCG.

Professional fees increased by $8,603 or 21% from $40,865 for the six months ended September 30, 2011 to $49,468 for the six months ended September 30, 2012. The principal reason for the increase was that there was an increase in the current period in accounting and audit fees of $7,519, as a consequence of an increase in our activity.

Salaries and wages increased by $11,166 or 29% from $39,016 for the six months ended September 30, 2011 to $50,182 for the six months ended September 30, 2012. The increase was due to the salary increase of our principal executive officer. Effective June 1, 2011, our principal executive officer’s salary was increased from CAD$3,000 per month to CAD$8,000 per month.

Feasibility study expense increased by $74,424 or 178% from $41,733 for the six months ended September 30, 2011 to $116,157 for the six months ended September 30, 2012. The increase was due to the expensed portion of the numerous deposits Coronus paid in the past three quarters to Southern California Edison for interconnection studies completed, in part, in the current period.

Foreign exchange loss expense increased by $5,709 or 208% from $2,748 for the six months ended September 30, 2011 to $8,457 for the six months ended September 30, 2012. The increase was attributable to the fluctuation of the USD/CAD exchange rate.

We incurred no write-down of land deposits expense ($nil) for the six months ended September 30, 2012, as compared to $3,210 in write-down of land deposits expense for the six months ended September 30, 2011. The write-down of land deposits expense in the previous period was attributable to a cancelled vacant land purchase agreement. When we cancelled the agreement, we forfeited the land deposits.

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We incurred $80,237 in write-off on discount of convertible notes expense for the six months ended September 30, 2012, as compared to no write-off on discount of convertible notes expense ($nil) for the six months ended September 30, 2011. On April 20, 2012, we repaid, in full, the principal and interest owning on two convertible promissory notes. An amount of $5,302 was amortized for the period from April 1 to April 19, 2012, and the balance of the discount on issuance of the convertible promissory notes, $80,237, was written off.

We achieved $1,717,024 in gain on sale of assets for the six months ended September 30, 2012, as compared to no gain on sale of assets ($nil) for the six months ended September 30, 2011. Pursuant to the Solar PV Asset Sale Agreement, we recorded a gain of $1,717,024 in respect of the sale of the Coronus Hesperia West 1 Project and the sale of the Coronus Hesperia West 2 Project (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Assets and Liabilities at September 30, 2012 compared to March 31, 2012

Cash and cash equivalents increased by $600,334 or184,000% from $327 at March 31, 2012 to $600,661 at September 30, 2012. The reason for the increase was the cash gain we recorded in respect of the sale of the Coronus Hesperia West 1 Project and the Coronus Hesperia West 2 Project, pursuant to the Solar PV Asset Sale Agreement (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Other receivables increased by $5,663 or 629% from $900 at March 31, 2012 to $6,563 at September 30, 2012. The principal reason for the increase was an increase in HST recoverable in the current quarter.

Prepaid expenses and deposit increased by $167,407 or 397% from $42,149 at March 31, 2012 to $209,556 at September 30, 2012. Coronus entered into various Power Purchase Agreements (“PPAs”) with SCE in September, 2012, and under the PPAs, was required to post and maintain with SCE development security fees totaling $189,958 (see Note 18(e) of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

We had no assets held for sale ($nil) at September 30, 2012, as compared to $40,161 in assets held for sale at March 31, 2012. The assets held for sale related to the prepaid and deposit assets of Coronus Hesperia West 1 LLC, and were carried at the lower of carrying value or fair value less costs to sell. Pursuant to the Solar PV Asset Sale Agreement with Sycamore, we transferred Coronus Hesperia West 1 LLC to them on April 12, 2012, and therefore no longer owned Coronus Hesperia West 1 LLC at September 30, 2012 (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Construction in progress decreased by $5,925,960 or 90% from $6,584,400 at March 31, 2012 to $658,440 at September 30, 2012. The decrease was attributable to the stock cancellation as a consequence of the Amended Solar Power Systems Agreement (see Note 18(a) of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Property, plant and equipment increased by $600,128 or 179% from $334,789 at March 31, 2012 to $934,917 at September 30, 2012. The reason for the increase was the acquisition of vacant land in the period, specifically the acquisitions of Adelanto West and Yucca Valley East. The purchase price of Adelanto West was $400,000. The purchase price of Yucca Valley East was $170,000.

Intangible asset decreased by $3,582 or 86% from $4,180 at March 31, 2012 to $598 at September 30, 2012. On completion of the Coronus acquisition on November 2, 2009, we acquired a business plan, with the fair value of $21,500. The business plan is amortized over its useful life of three years.

Accounts payable and accrued liabilities decreased by $121,534 or 84% from $144,656 at March 31, 2012 to $23,122 at September 30, 2012. The reason for the decrease was the cash gains we recorded in respect of the sale of the Coronus Hesperia West 1 Project and the sale of the Coronus Hesperia West 2 Project, pursuant to the Solar PV Asset Sale Agreement (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q). We used the proceeds from the two sales, in part, to pay accounts and settle liabilities.

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We had no loan from a shareholder ($nil) at September 30, 2012, as compared to $243,288 in loan from a shareholder at March 31, 2012. The reason for the elimination of the loan was that on April 18, 2012, we used the proceeds from the sale of the Coronus Hesperia West 1 Project, pursuant to the Solar PV Asset Sale Agreement, to repay, in full, the shareholder loan.

We had no convertible notes payable ($nil) at September 30, 2012, as compared to $15,198 in convertible notes payable at March 31, 2012. At March 31, 2012, the convertible notes payable related to convertible promissory notes we issued for gross proceeds of CAD$100,000. These convertible promissory notes bore an annual interest rate of 12%. We allocated the convertible notes and the detached warrants on a relative fair value basis, and calculated the embedded conversion beneficiary future. The discount on issuance of the convertible promissory notes was being amortized over the life of the notes. On April 20, 2012, we repaid the notes, in full, inclusive of interest.

Current notes payable increased by $31,900 or 86% from $37,100 at March 31, 2012 to $69,000 at September 30, 2012. The increase in current notes payable is related to Coronus’ Twentynine Palms North vacant land purchase. Under the agreement to purchase, the seller agreed to carry back $32,000 of the purchase price for two years at 6.5% per annum interest, with monthly payments of interest only. On May 16, 2011, the transaction closed. Accordingly, the note is now due within one year, and therefore no longer a long-term liability. At September 30, 2012, the Company had accrued interest payable of $84 on the note.

We had no liabilities held for sale ($nil) at September 30, 2012, as compared to $33,475 in liabilities held for sale at March 31, 2012. The liabilities held for sale at March 31, 2012, related to the accounts payable and accrued liabilities of Coronus Hesperia West 1 LLC and the cost and liabilities incurred in relation to the Hesperia West Agreement. Pursuant to the Solar PV Asset Sale Agreement with Sycamore, we transferred Coronus Hesperia West 1 LLC and assigned the Hesperia West Agreement to them on April 12, 2012, and therefore no longer owned Coronus Hesperia West 1 LLC or held the Hesperia West Agreement at June 30, 2012 (see Note 10 of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Long term notes payable increased by $338,916 or 168% from $202,084 at March 31, 2012 to $541,000 at September 30, 2012. The increase in notes payable is related to Coronus’ Adelanto West and Yucca Valley East vacant land purchases. On April 19, 2012, Coronus completed the Adelanto West purchase. Under the agreement to purchase, the seller agreed to carry back $235,000 of the purchase price for three years at 6.5% per annum interest, with monthly payments of interest only. On August 17, 2012, Coronus completed the Yucca Valley East purchase. Under the agreement to purchase, the seller agreed to carry back $136,000 of the purchase price for two years at 6.5% per annum interest, with monthly payments of interest only. The increase attributable to the Adelanto West and Yucca Valley East vacant land purchases was offset by Coronus’ Twentynine Palms North vacant land purchase. Under the agreement to purchase, the seller agreed to carry back $32,000 of the purchase price for two years at 6.5% per annum interest, with monthly payments of interest only. On May 16, 2011, the transaction closed. Accordingly, the note is now due within one year, and therefore no longer a long-term liability.

Share capital decreased by $5,925,960 or 79% from $7,474,452 at March 31, 2012 to $1,548,492 at September 30, 2012. The decrease was attributable to the stock cancellation as a consequence of the Amended Solar Power Systems Agreement (see Note 18(a) of the Notes to the September 30, 2012 unaudited Financial Statements, elsewhere in this Form 10-Q).

Limited Operating History; Need for Additional Capital

There is limited historical financial information about us upon which to base an evaluation of our performance. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources.

To become profitable and competitive, we need to obtain power purchase agreements from SCE, under the CPUC’s feed-in tariff program for small generators, obtain land use permits, and secure financing, on a per project basis, to pay Belectric to construct the utility-scale, solar PV systems. There is no assurance that we will be able to obtain power purchase agreements or land use permits. Further, there is no assurance that we will be able to secure financing, or secure financing on acceptable terms. If financing is not available on acceptable terms, we may be unable to develop our operations.

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We expect to raise additional capital through the sale of common stock in private placements, or through the sale of one or more of our solar PV projects under development. There is no assurance, however, that we will be able to raise any capital through the sale of common stock, or that we will be able to raise any capital through the sale of our solar PV projects under development. Further, equity financing could result in additional dilution to existing shareholders.

We do not believe that possible inflation and price changes will affect our revenues.

Our auditors have issued a going concern opinion in our consolidated financial statements for the year ended March 31, 2012. This means that there is substantial uncertainty that we will continue operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Liquidity and Capital Resources

Since inception, we have issued 17,219,486 shares of our common stock and received cash of $591,861.

On March 19, 2012, Coronus, through its wholly-owned subsidiary, Coronus Hesperia West 1 LLC, entered into a Power Purchase Agreement (“PPA”) with SCE. The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system (the “Coronus Hesperia West 1 Project”) on the 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to the “Hesperia West” Vacant Land Purchase Agreement, Coronus entered into on November 9, 2011. On April 5, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to 1) sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC, 2) assign to Sycamore, the Hesperia West Vacant Land Purchase Agreement, and 3) use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West land parcel, and to sell this PPA, relating to a 1.5 MW solar PV system, to Sycamore if obtained.

Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $1,726,219 (the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Vacant Land Purchase Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Vacant Land Purchase Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019, to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole membership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Vacant Land Purchase Agreement to Sycamore.

On August 30, 2012, Coronus, through its wholly-owned subsidiary, Coronus Hesperia West 2 LLC, entered into a PPA with SCE (the “Hesperia West 2 PPA”). The Hesperia West 2 PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.5 MW solar PV power system (the “Hesperia West 2 Project”) on the Hesperia West parcel. Having obtained the second PPA on the Hesperia West parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, or $909,019, to Coronus, and Coronus transferred the sole membership in Coronus Hesperia West 2 LLC to Sycamore, thus concluding the Solar PV Asset Sale Agreement.

On August 30, 2012 (the “Yucca Valley East PPAs Effective Date”), our wholly-owned subsidiaries, Coronus Yucca Valley East 1 LLC and Coronus Yucca Valley East 2 LLC, entered into two PPAs (the “Yucca Valley East PPAs”) with SCE. The Yucca Valley East PPAs relate to our applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Yucca Valley East 1 and Yucca Valley East 2 Projects”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California (the “Yucca Valley East Property”), our wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), acquired on August 17, 2012.

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The Yucca Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Yucca Valley East 1 and Yucca Valley East 2 Projects’ generation, net of station use. The term of the Yucca Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Yucca Valley East PPAs. Initial operation of the Yucca Valley East 1 and Yucca Valley East 2 Projects must be no later than eighteen months from the Yucca Valley East PPAs Effective Date. The Yucca Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East PPAs Effective Date, we were required to post and maintain development fees (the “Yucca Valley East Development Securities”) equal to $37,604 per Yucca Valley East PPA. If, on or before initial operation, we demonstrate to SCE's satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the Yucca Valley East Development Securities to us within thirty days of each facility’s initial operation. On September 27, 2012, we paid the Yucca Valley East Development Securities.

On August 30, 2012 (the “29-Palms North PPAs Effective Date”), our wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, and Coronus 29-Palms North 3 LLC, entered into three PPAs (the “29-Palms North PPAs”) with SCE. The 29-Palms North PPAs relate to our applications for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems (the “29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects”) in respect of the 12kV distribution circuit that feeds the 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms North Property”), Coronus acquired on May 16, 2011.

The 29-Palms North PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects’ generation, net of station use. The term of the 29-Palms North PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the 29-Palms North PPAs. Initial operation of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects must be no later than eighteen months from the 29-Palms North PPAs Effective Date. The 29-Palms North PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the 29-Palms North PPAs Effective Date, we were required to post and maintain development fees (the “29-Palms North Development Securities”) equal to $38,250 per 29-Palms North PPA. If, on or before initial operation, we demonstrate to SCE's satisfaction that we have installed all of the equipment or devices necessary for us to satisfy the gross power rating of the generating facilities, SCE shall return the 29-Palms North Development Securities to us within thirty days of each facility’s initial operation. On September 27, 2012, we paid the 29-Palms North Development Securities.

We expect to obtain capital through the sale of our common stock, or through the sale of one or more of our solar PV projects under development. There is no assurance we will obtain further PPAs, obtain land use permits, or secure financing, on a per project basis, to pay Belectric, in installments, to construct the utility-scale, solar PV systems. Further, there is no assurance we will sell any shares of common stock, or that we will be able to raise any capital through the sale of our solar PV projects under development. We believe that capital generated from the sale of our common stock, or through the sale of our solar PV projects under development, will allow us to operate for the next twelve months. Capital raised from the sale of common stock and capital raised from the sale of solar PV projects under development are our only anticipated sources of additional capital.

To develop a 1.5 MW solar power plant, we forecast the cost to be $5.5 million, inclusive of taxes. We base our cost forecast on the pricing we negotiated, adjusted to reflect the fair value of the payment shares we issued on entering into the agreement, with Belectric, under the purchase agreement for utility-scale, ground-mount, solar PV power systems (the “Solar Power Systems Agreement”). Under the Solar Power Systems Agreement, Coronus had until December 31, 2013, to deploy the solar PV systems. Under the Solar Power Systems Agreement, Coronus was to provide the sites for the systems, pay for the utility interconnection requests and studies, and obtain the power

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purchase agreements and land use permits. Additionally, Coronus was to provide Belectric with satisfactory proof of secured financing, on a per project basis, prior to the commencement of construction of each of the systems. Under the Solar Power Systems Agreement, Belectric was to provide all services necessary for delivery to Coronus of turnkey, operation ready, solar PV systems, and for connection of the systems to the utilities’ grids.

On August 15, 2012, we amended the Solar Power Systems Agreement (the “Amended Solar Power Systems Agreement”). Under the Amended Solar Power Systems Agreement, the provision of Coronus to purchase a total of 21 MW of utility-scale, ground-mount, solar PV power systems from Belectric, for consideration of $76,818,000, exclusive of taxes (the “Original Basic Price”), was modified. Under the Amended Solar Power Systems Agreement, Coronus and Belectric agree to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis (the “Purchase and Sale Agreements”). The Amended Solar Power Systems Agreement is effective as of August 15, 2012, and shall remain in full force and effect for three years (the “Three Year Term”), but shall expire prior to the Three Year Term provided Coronus and Belectric enter into Purchase and Sale Agreements totaling 100 MW of solar power systems prior to the expiry of the Three Year Term. Further, throughout the term of the Amended Solar Power Systems Agreement, Belectric retains the exclusive right to negotiate Purchase and Sale Agreements with Coronus for solar power systems.

On entering into the original Solar Power Systems Agreement, we paid 15% of the Original Basic Price, or $11,522,700, by way of issuing 10,974,000 shares (the “Original Payment Shares”) of our common stock to Belectric, at a deemed price of $1.05 per share. Under the Amended Solar Power Systems Agreement, as additional purchase and sale consideration, Belectric kept 1,097,400 of the Original Payment Shares. Accordingly, 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012. Prior to the cancellation of the 9,876,600 shares, we had 27,096,086 shares of common stock issued and outstanding. Following the cancellation of the 9,876,600 shares, we now have 17,219,486 shares of common stock issued and outstanding.

On August 28, 2010, Coronus entered into a Vacant Land Purchase Agreement (“the “Twentynine Palms East Agreement”) to acquire a 30 acre parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California, from Gary and Sylvia Wright. The purchase price of $32,000, all cash, was paid on January 24, 2011. Accordingly, Coronus owns this parcel. At this point in time, we have opted not to pursue interconnection agreements for solar PV power systems sited on this parcel. Based on the feedback we received from SCE’s distribution engineers, the anticipated network upgrade costs to accommodate the systems are currently prohibitive. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

On January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Twentynine Palms North Agreement”) to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California, from Joshua Tree Holdings. The purchase price was $40,000. Coronus agreed to pay $8,000, with Joshua Tree Holdings agreeing to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On May 16, 2011, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems in respect of the 12kV distribution circuit that feeds this parcel. To date, we have obtained interconnection study results for three systems, and have entered into three separate PPAs with SCE, under the CREST tariff, in respect of these three systems (see the 29-Palms North PPAs above).

On January 24, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Newberry Springs Agreement”) to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California, from Mike Hoch. The purchase price was $45,000. Coronus agreed to pay $8,000, with Mike Hoch agreeing to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On March 17, 2011, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are precluded from pursuing interconnection agreements for solar PV power systems sited on this parcel. Based on the feedback we received from SCE’s transmission engineers, the existing, regional specific, transmission infrastructure lacks the transmission capacity we would require to deploy our solar PV power systems on this parcel. Although SCE plans to upgrade this transmission infrastructure, these upgrades are not slated for completion till 2018 – 2019. Accordingly, we are currently assessing alternative uses for this parcel, including a sale.

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On May 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”) to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California, from Sal, Alfred and Frances Gonzalez. The purchase price was $200,000. Coronus agreed to pay $30,000, with Sal, Alfred and Frances Gonzalez agreeing to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only. On June 30, 2011, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for five systems, and have applied to enter into five separate PPAs with SCE, under the CREST tariff, in respect of these five systems.

On September 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Adelanto West Agreement”) to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California, from Zacarias and Elisa Ramirez. The purchase price was $400,000. Coronus agreed to pay $165,000, with Zacarias and Elisa Ramirez agreeing to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. On April 19, 2012, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems sited on this parcel.

On October 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement”) to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California, from Peter and Ann Wellington. The purchase price was $170,000. Coronus agreed to pay $34,000, with Peter and Ann Wellington agreeing to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. On August 17, 2012, the transaction closed. Accordingly, Coronus owns this parcel. At this point in time, we are pursuing multiple interconnection agreements for 1.5 MW solar PV power systems sited on this parcel. To date, we have obtained interconnection study results for two systems, and have entered into two separate PPAs with SCE, under the CREST tariff, in respect of these two systems (see the Yucca Valley East PPAs above).

On April 25, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “Phelan South Agreement”) to acquire a 40 acre parcel of vacant land, situated in Phelan, an unincorporated community in the County of San Bernardino, California, from Lora Steinmann. The purchase price is $350,000, all cash. Coronus deposited $1,000 into escrow and agrees to deposit an additional $349,000 within sufficient time to close escrow. Initially, close of escrow was August 15, 2012, but was extended to March 15, 2013. Under the Phelan South Agreement, Ms. Steinmann agrees to include, and transfer to Coronus, one share of Sheep Creek Water Co. Additionally, on closing, Coronus agrees to pay the realtor commission of $5,000. Initially, the Phelan South Agreement was subject to Coronus’ Board of Director approval on or before July 31, 2012, but this approval was extended to on or before February 28, 2013. Effective September 6, 2012, Coronus is now required to make the following, non-refundable payments, separate from the purchase price, to Lora Steinmann:

September 30, 2012 - $1,726 (paid on September 30, 2012)

October 31, 2012 - $1,784 (paid on October 31, 2012)

November 30, 2012 - $1,726

December 31, 2012 - $1,784

January 31, 2013 - $1,784

February 28, 2013 - $1,611

March 15, 2013 - $863

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”) to acquire a 24.23 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California, from Albert Carness. The purchase price is $86,683, all cash. Close of escrow is December 31, 2012. Coronus deposited $1,000 into escrow and agrees to deposit an additional $85,683 within sufficient time to close escrow. The 29-Palms Morongo Agreement is subject to Coronus’ board of director approval on or before December 17, 2012.

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Under the CPUC’s current feed-in tariff for small generators, we are entitled to enter into multiple 1.5 MW power purchase agreements provided we deploy multiple 1.5 MW solar power systems. Further, we are entitled to deploy multiple 1.5 MW solar power systems on the same parcel, provided this works from a utility interconnection point of view. Because we estimate the cost to develop a 1.5 MW solar power plant to be $5.5 million, inclusive of taxes, we estimate the cost to develop one to three 1.5 MW solar power plants, per parcel, to be $5.5 million to $16.5 million, inclusive of taxes. We expect to obtain the capital to pay for these power plants, through the sale of our common stock and through non-recourse senior secured debt. There is no assurance, however, that we will be able to raise this capital through the sale of common stock, or through non-recourse senior secured debt.

On February 2, 2012, we conducted a non-brokered private placement, issuing a senior secured, convertible promissory note (the “Adair Note”) and transferrable warrant (the “Adair Warrant”) to Russell Adair, for proceeds of CAD$50,000. The Adair Note matured on February 2, 2013 and bore interest at an annual rate of 12%, payable in cash at maturity, prepayment or conversion. At or before maturity, the Adair Note and any accrued interest were convertible at the holder’s option into shares of our common stock, at a price of CAD$0.60 per share. On April 20, 2012, we repaid Mr. Adair, in full, the CAD$50,000 in principal and CAD$1,282.20 in interest owning against the Adair Note. The Adair Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Adair continues to hold the Adair Warrant.

On February 23, 2012, we conducted a non-brokered private placement, issuing a senior secured, convertible promissory note (the “Zakaib Note”) and transferrable warrant (the “Zakaib Warrant”) to Frank Zakaib, for proceeds of CAD$50,000. The Zakaib Note matured on February 2, 2013 and bore interest at an annual rate of 12%, payable in cash at maturity, prepayment or conversion. At or before maturity, the Zakaib Note and any accrued interest were convertible at the holder’s option into shares of our common stock, at a price of CAD$0.60 per share. On April 20, 2012, we repaid Mr. Zakaib, in full, the CAD$50,000 in principal and CAD$936.99 in interest owning against the Zakaib Note. The Zakaib Warrant entitles the holder thereof to purchase an aggregate of 83,333 shares of our common stock at an exercise price of CAD$0.75 for a period of five years. Mr. Zakaib continues to hold the Zakaib Warrant.

On August 10, 2012, we conducted a non-brokered private placement, issuing a senior secured, promissory note (the “Singleton Note”) to Trevor Singleton, for proceeds of CAD$40,000. The Singleton Note was secured by a first priority security interest in all of our assets, including those of our wholly-owned subsidiary, Coronus. The Singleton Note was due on demand and bore interest at an annual rate of 12%, payable in cash at redemption. On September 10, 2012, we repaid Mr. Singleton, in full, the CAD$40,000 in principal and CAD$407.67 in interest owning against the Singleton Note.

On October 24, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Industry Solar PV Asset Sale Agreement”) with Solar Krafte Utilities Inc. (“Solar Krafte”). Solar Krafte holds a contract to purchase Industry Solar Power Generation Station 1 LLC (“Industry”). Under the Industry Solar PV Asset Sale Agreement, Coronus agreed to purchase Industry from Solar Krafte for $1,250,000 (the “Cash Price”). Industry is a party to a Power Purchase Agreement (the “Industry PPA”) with SCE, under the CREST tariff, for a 1.5 MW concentrated photovoltaic power system (the “Industry System”). Completion of the Industry Solar PV Asset Sale Agreement is contingent on SCE approving 1) a design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, and 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Each party has the right to terminate the Industry Solar PV Asset Sale Agreement effective upon notice to the other party if SCE fails to approve, within 90 days from October 24, 2012, 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel.

On entering into the Industry Solar PV Asset Sale Agreement, Coronus deposited $40,000 with Solar Krafte, refundable to Coronus if SCE refuses to approve 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Under the Industry Solar PV Asset Sale Agreement, Solar Krafte covenanted, represented

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and warranted to Coronus that (a) Industry was, and will be, a party in good standing to the Industry PPA, as at the date of the Industry Solar PV Asset Sale Agreement and the closing date, and (b) but for the obligations of Industry, pursuant to the Industry PPA, Industry had, and will have, no obligations as at the date of the Industry Solar PV Asset Sale Agreement and the closing date.

As a consequence of shareholder loans, we were indebted to our principal executive officer, who serves also as a director, in the amount of $243,288, inclusive of interest, through March 31, 2012. As of March 31, 2010, the loans were interest free, unsecured and due on demand. Effective April 1, 2010, the aggregate loan accrued interest at the annual rate of 4%. At March 31, 2012, the Company had accrued interest payable of $17,991 on the shareholder loan. As in the past, the loan was unsecured and due on demand. Additionally, our principal executive officer earns a salary of CAD$8,000 per month, effective June 1, 2011 (CAD$3,000 per month historically) but forgave this salary when due, and had done so for the past five years. Effective October 1, 2011, this salary now accrued. In addition to the above, at March 31, 2012, included in accounts payable, CAD$1,189 was owed to our principal executive officer for out-of-pocket expenses. This amount remained payable and did not accrue interest. This amount was not reflected in the shareholder loans described above.

Our principal executive officer had verbally agreed to not seek repayment of the shareholder loans, salary, or out-of-pocket expenses until such time as we were generating sufficient revenues to allow for the repayment of the debt without putting an undue burden on our retained earnings, or until such time as we had raised sufficient capital to eliminate our working capital deficiency. The proceeds from the Sycamore Solar PV Asset Sale Agreement eliminated our working capital deficiency. Accordingly, on April 18, 2012, we repaid, in full, the shareholder loan, as at April 18, 2012, and interest outstanding, as at April 18, 2012. Additionally, we repaid, in full, the out-of-pocket expenses outstanding, as at April 18, 2012. As a result, on April 18, 2012, we repaid our principal executive officer CAD$237,780 and USD $7,021. Additionally, but for six months of accrued salary, we now paid our principal executive officer’s salary when due. On September 11, 2012, we paid our principal executive officer, in full, the six months of accrued salary (CAD$48,000). As of the date of this report, we are no longer indebted to our principal executive officer.

As of September 30, 2012, our total current assets were $816,781 and our total current liabilities were $93,223 resulting in a working capital surplus of $723,558.

Off Balance Sheet Arrangements

We have no off balance sheet arrangements.

Critical Accounting Policies

There have been no material changes in our existing accounting policies and estimates from the disclosures included in our 2012 Form 10-K, except for the newly adopted accounting policies as disclosed in the interim financial statements.

ITEM 3.            QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4.            CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are effective.

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There were no changes in our internal control over financial reporting during the quarter ended September 30, 2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. – OTHER INFORMATION

ITEM 1A.         RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 6.            EXHIBITS.

		Incorporated by reference				Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1
3.2	Bylaws.	S-1	11/07/08	3.2
3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3
3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4
3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5
3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1
4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1
10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1
10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2
10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3
10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4
10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5
10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6
10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7
10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1
10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1
10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10
10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11
10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12
10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13
10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14
10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15
10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16

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10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17
10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1
10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1
10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2
10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3
10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22
10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23
10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24
10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25
10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26
10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27
10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28
10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29
10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30
10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31
10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32
10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33
10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34
10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35
10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1
10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37
10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38
10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39
10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40
10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41
10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42
10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43
10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44
10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45
10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46
10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47

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10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48
10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49
10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50
10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51
10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52
10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53
10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54
10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55
10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56
10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57
10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58
10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59
10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60
10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61
10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62
10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63
10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64
10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65
10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66
10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67
10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68
10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69
10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70
10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71
10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72
10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73

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10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74
10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75
10.76	Consent Agreement.	10-K	6/29/12	10.76
10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77
10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78
10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79
10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80
10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81
10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82
10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83
10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84
10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85
10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86
10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87
10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88
10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89
10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90
10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91
10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92
10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93
10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94
10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95
10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96
10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97
10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1
10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1
10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2
10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3
10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4
10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5

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10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6
10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7
10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8
10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1
10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.				X

10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.				X
14.1	Code of Ethics.	S-1	11/07/08	14.1
14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.1	Audit Committee Charter.	S-1	11/07/08	99.1
99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2
99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3
101.INS	XBRL Instance Document.				X
101.SCH	XBRL Taxonomy Extension – Schema.				X
101.CAL	XBRL Taxonomy Extension – Calculations.				X
101.DEF	XBRL Taxonomy Extension – Definitions.				X
101.LAB	XBRL Taxonomy Extension – Labels.				X
101.PRE	XBRL Taxonomy Extension – Presentation.				X

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities on this 14th day of November, 2012.

CORONUS SOLAR INC.
(Registrant)
BY:	JEFF THACHUK
	Jeff Thachuk
	President, Principal Executive Officer, Principal Accounting Officer, Principal Financial Officer, Secretary, Treasurer and member of the Board of Directors

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EXHIBIT INDEX

		Incorporated by reference				Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	10-K/A-2	12/10/10	3.1
3.2	Bylaws.	S-1	11/07/08	3.2
3.3	Amended Articles of Incorporation (8/13/2002).	S-1	11/07/08	3.3
3.4	Amended Articles of Incorporation (8/26/2002).	S-1	11/07/08	3.4
3.5	Amended Articles of Incorporation (9/20/2002).	S-1	11/07/08	3.5
3.6	Amended Articles of Incorporation (11/03/2009).	8-K	11/06/09	3.1
4.1	Specimen Stock Certificate.	S-1	11/07/08	4.1
10.1	Engagement Letter - Jefferson Thachuk (5/15/2007).	S-1	11/07/08	10.1
10.2	Engagement Letter - Jefferson Thachuk (6/12/2008).	S-1	11/07/08	10.2
10.3	Engagement Letter - Jefferson Thachuk (8/21/2008).	S-1	11/07/08	10.3
10.4	Engagement Letter - Raven Kopelman.	S-1	11/07/08	10.4
10.5	Engagement Letter - John Omielan: (3/15/2007).	S-1	11/07/08	10.5
10.6	Engagement Letter - John Omielan: (1/04/2008).	S-1	11/07/08	10.6
10.7	Share Purchase Agreement with Coronus Energy Corp., Jefferson Thachuk, Mark Burgert, Raven Kopelman, David Holmes, Kenneth Bogas and John Omielan.	10-Q	11/02/09	10.7
10.8	Escrow Agreement between Insightfulmind Learning, Inc., Mark Burgert and Jefferson Thachuk.	8-K	11/06/09	10.1
10.9	Loan Agreement with Jefferson Thachuk.	10-K/A	12/10/10	10.1
10.10	Vacant Land Purchase Agreement – VIDAL.	10-Q/A-1	12/10/10	10.10
10.11	Vacant Land Purchase Agreement – TWENTYNINE PALMS.	10-Q/A-1	12/10/10	10.11
10.12	Stock Option Plan dated November 23, 2010.	POS AM	12/30/10	10.12
10.13	Vacant Land Purchase Agreement – VIDAL (December 19, 2010 Addendum).	POS AM	12/30/10	10.13
10.14	Vacant Land Purchase Agreement – TWENTYNINE PALMS (December 21, 2010 Addendum).	POS AM	12/30/10	10.14
10.15	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH.	10-Q	2/14/11	10.15
10.16	Vacant Land Purchase Agreement – NEWBERRY SPRINGS.	10-Q	2/14/11	10.16
10.17	Vacant Land Purchase Agreement – VIDAL (January 27, 2011 Addendum).	10-Q	2/14/11	10.17
10.18	Solar Power Systems Agreement.	8-K	4/01/11	10.1
10.19	SIS/FAS Study Agreement for Coronus 29 - PALMS NORTH 1.	8-K	6/21/11	10.1
10.20	SIS/FAS Study Agreement for Coronus 29-PALMS NORTH 2.	8-K	6/21/11	10.2
10.21	VIDAL Agreement Cancellation Instructions.	8-K	6/21/11	10.3
10.22	Installment Note – TWENTYNINE PALMS NORTH.	10-K	6/24/11	10.22

-40-

10.23	Vacant Land Purchase Agreement – TWENTYNINE PALMS (February 17, 2011 Addendum).	10-K	6/24/11	10.23
10.24	Vacant Land Purchase Agreement – NEWBERRY SPRINGS (February 22, 2011 Addendum).	10-K	6/24/11	10.24
10.25	Vacant Land Purchase Agreement – VIDAL (February 22, 2011 Addendum).	10-K	6/24/11	10.25
10.26	Installment Note – NEWBERRY SPRINGS.	10-K	6/24/11	10.26
10.27	Vacant Land Purchase Agreement – VIDAL (March 14, 2011 Addendum).	10-K	6/24/11	10.27
10.28	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (March 15, 2011 Addendum).	10-K	6/24/11	10.28
10.29	Vacant Land Purchase Agreement – TWENTYNINE PALMS NORTH (April 14, 2011 Addendum).	10-K	6/24/11	10.29
10.30	Vacant Land Purchase Agreement – VIDAL (April 14, 2011 Addendum).	10-K	6/24/11	10.30
10.31	Vacant Land Purchase Agreement – JOSHUA TREE EAST.	10-K	6/24/11	10.31
10.32	Vacant Land Purchase Agreement – VIDAL (May 15, 2011 Addendum).	10-K	6/24/11	10.32
10.33	Engagement Letter - Jefferson Thachuk (May 31, 2011).	10-K	6/24/11	10.33
10.34	Vacant Land Purchase Agreement – JOSHUA TREE EAST (June 3, 2011 Addendum).	10-K	6/24/11	10.34
10.35	Loan Agreement with Jefferson Thachuk (June 20, 2011 Addendum).	10-K	6/24/11	10.35
10.36	SCG Advisory Agreement.	8-K	8/10/11	10.1
10.37	Installment Note – JOSHUA TREE EAST.	10-Q	11/14/11	10.37
10.38	Vacant Land Purchase Agreement – PHELAN EAST.	10-Q	11/14/11	10.38
10.39	Cancellation Instructions – PHELAN EAST.	10-Q	11/14/11	10.39
10.40	Vacant Land Purchase Agreement – ADELANTO WEST.	10-Q	11/14/11	10.40
10.41	Vacant Land Purchase Agreement – APPLE VALLEY EAST.	10-Q	11/14/11	10.41
10.42	Vacant Land Purchase Agreement – YUCCA VALLEY EAST.	10-Q	11/14/11	10.42
10.43	Vacant Land Purchase Agreement – OAK HILLS SOUTH.	10-Q	11/14/11	10.43
10.44	Loan Agreement with Jefferson Thachuk (October 26, 2011 Addendum).	10-Q	11/14/11	10.44
10.45	Vacant Land Purchase Agreement – HESPERIA WEST.	10-Q	11/14/11	10.45
10.46	Loan Agreement with Jefferson Thachuk (February 8, 2012 Addendum).	10-Q	2/15/11	10.46
10.47	SCG Advisory Agreement – (December 8, 2011 Addendum).	10-Q	2/15/11	10.47
10.48	System Impact Study Agreement – CORONUS HESPERIA WEST 2.	10-Q	2/15/11	10.48
10.49	System Impact Study Agreement – CORONUS YUCCA VALEY EAST 1.	10-Q	2/15/11	10.49
10.50	System Impact Study Agreement – CORONUS YUCCA VALLEY EAST 2.	10-Q	2/15/11	10.50
10.51	Vacant Land Purchase Agreement – ADELANTO WEST (November 17, 2011 Addendum).	10-Q	2/15/11	10.51
10.52	Vacant Land Purchase Agreement – ADELANTO WEST (January 11, 2012 Addendum).	10-Q	2/15/11	10.52

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10.53	Vacant Land Purchase Agreement – APPLE VALLEY EAST (November 30, 2011 Addendum).	10-Q	2/15/11	10.53
10.54	Vacant Land Purchase Agreement – APPLE VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.54
10.55	Vacant Land Purchase Agreement – HESPERIA WEST (Commission Agreement).	10-Q	2/15/11	10.55
10.56	Vacant Land Purchase Agreement – HESPERIA WEST (December 13, 2011 Addendum).	10-Q	2/15/11	10.56
10.57	Vacant Land Purchase Agreement – HESPERIA WEST (January 14, 2012 Addendum).	10-Q	2/15/11	10.57
10.58	Vacant Land Purchase Agreement – HESPERIA WEST (February 2, 2012 Addendum).	10-Q	2/15/11	10.58
10.59	Vacant Land Purchase Agreement – OAK HILLS SOUTH (December 15, 2011 Addendum)	10-Q	2/15/11	10.59
10.60	Vacant Land Purchase Agreement – OAK HILLS SOUTH (January 18, 2012 Addendum).	10-Q	2/15/11	10.60
10.61	Cancellation Instructions – OAK HILLS SOUTH.	10-Q	2/15/11	10.61
10.62	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (Commission Agreement).	10-Q	2/15/11	10.62
10.63	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (December 3, 2011 Addendum).	10-Q	2/15/11	10.63
10.64	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (January 6, 2012 Addendum).	10-Q	2/15/11	10.64
10.65	Secured Convertible Promissory Note – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.65
10.66	Warrant – Russell Adair (February 2, 2012).	10-Q	2/15/11	10.66
10.67	Vacant Land Purchase Agreement – ADELANTO WEST (February 2, 2012 Addendum).	10-K	6/29/12	10.67
10.68	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.68
10.69	Vacant Land Purchase Agreement – APPLE VALLEY EAST (February 2, 2012 Addendum).	10-K	6/29/12	10.69
10.70	Vacant Land Purchase Agreement – HESPERIA WEST (February 16, 2012 Addendum).	10-K	6/29/12	10.70
10.71	System Impact Study Agreement – JOSHUA TREE EAST 1.	10-K	6/29/12	10.71
10.72	System Impact Study Agreement – JOSHUA TREE EAST 2.	10-K	6/29/12	10.72
10.73	System Impact Study Agreement – JOSHUA TREE EAST 3.	10-K	6/29/12	10.73
10.74	Secured Convertible Promissory Note – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.74
10.75	Warrant – Frank Zakaib (February 23, 2012).	10-K	6/29/12	10.75
10.76	Consent Agreement.	10-K	6/29/12	10.76
10.77	System Impact Study Agreement – 29-PALMS NORTH 3.	10-K	6/29/12	10.77
10.78	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (February 29, 2012 Addendum).	10-K	6/29/12	10.78

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10.79	Vacant Land Purchase Agreement – ADELANTO WEST (March 5, 2012 Addendum).	10-K	6/29/12	10.79
10.80	Vacant Land Purchase Agreement – APPLE VALLEY EAST (March 19, 2012 Addendum).	10-K	6/29/12	10.80
10.81	Power Purchase Agreement – Coronus Hesperia West 1 LLC.	10-K	6/29/12	10.81
10.82	Vacant Land Purchase Agreement – YUCCA VALLEY EAST (April 4, 2012 Addendum).	10-K	6/29/12	10.82
10.83	Solar Photovoltaic Asset Sale Agreement.	10-K	6/29/12	10.83
10.84	Vacant Land Purchase Agreement – ADELANTO WEST (April 12, 2012 Addendum).	10-K	6/29/12	10.84
10.85	System Impact Study Agreement – ADELANTO WEST 1.	10-K	6/29/12	10.85
10.86	System Impact Study Agreement – ADELANTO WEST 2.	10-K	6/29/12	10.86
10.87	Loan Agreement with Jefferson Thachuk (April 18, 2012 Addendum).	10-K	6/29/12	10.87
10.88	System Impact Study Agreement – APPLE VALLEY EAST 1.	10-K	6/29/12	10.88
10.89	System Impact Study Agreement – APPLE VALLEY EAST 2.	10-K	6/29/12	10.89
10.90	Cancellation Instructions – APPLE VALLEY EAST.	10-K	6/29/12	10.90
10.91	Vacant Land Purchase Agreement – PHELAN SOUTH.	10-K	6/29/12	10.91
10.92	Vacant Land Purchase Agreement – PHELAN SOUTH (Commission Agreement).	10-K	6/29/12	10.92
10.93	System Impact Study Agreement – 29-PALMS WEST 1.	10-K	6/29/12	10.93
10.94	System Impact Study Agreement – 29-PALMS WEST 2.	10-K	6/29/12	10.94
10.95	System Impact Study Agreement – YUCCA VALLEY EAST 3.	10-K	6/29/12	10.95
10.96	System Impact Study Agreement – JOSHUA TREE EAST 4.	10-K	6/29/12	10.96
10.97	System Impact Study Agreement – JOSHUA TREE EAST 5.	10-K	6/29/12	10.97
10.98	Secured Convertible Promissory Note – Trevor Singleton.	8-K	8/13/12	10.1
10.99	Power Purchase Agreement – Coronus 29-Palms North 1 LLC.	10-Q	9/13/12	10.1
10.100	Power Purchase Agreement – Coronus 29-Palms North 2 LLC.	10-Q	9/13/12	10.2
10.101	Power Purchase Agreement – Coronus 29-Palms North 3 LLC.	10-Q	9/13/12	10.3
10.102	Power Purchase Agreement – Coronus Yucca Valley East 1 LLC.	10-Q	9/13/12	10.4
10.103	Power Purchase Agreement – Coronus Yucca Valley East 2 LLC.	10-Q	9/13/12	10.5
10.104	Power Purchase Agreement – Coronus Hesperia West 2 LLC.	10-Q	9/13/12	10.6
10.105	Vacant Land Purchase Agreement – PHELAN SOUTH (August 1, 2012 Addendum).	10-Q	9/13/12	10.7
10.106	Vacant Land Purchase Agreement – PHELAN SOUTH (September 6, 2012 Addendum).	10-Q	9/13/12	10.8
10.107	Solar Photovoltaic Asset Sale Agreement (Industry).	8-K	10/30/12	10.1
10.108	System Impact Study Agreement – CORONUS 29-PALMS NORTH 4.				X

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10.109	Vacant Land Purchase Agreement – TWENTYNINE PALMS MORONGO.				X
14.1	Code of Ethics.	S-1	11/07/08	14.1
14.2	Amended Code of Ethics as of May 14, 2009.	10-K	6/05/09	14.2
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.1	Audit Committee Charter.	S-1	11/07/08	99.1
99.2	Amended Audit Committee Charter as of May 19, 2009.	10-K	6/05/09	99.2
99.3	Disclosure Committee Charter.	10-K	6/05/09	99.3
101.INS	XBRL Instance Document.				X
101.SCH	XBRL Taxonomy Extension – Schema.				X
101.CAL	XBRL Taxonomy Extension – Calculations.				X
101.DEF	XBRL Taxonomy Extension – Definitions.				X
101.LAB	XBRL Taxonomy Extension – Labels.				X
101.PRE	XBRL Taxonomy Extension – Presentation.				X

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EX-10.1

Exhibit 10.1

EX-10.2

Exhibit 10.2

EX-31.1

Exhibit 31.1

SARBANES-OXLEY SECTION 302(a) CERTIFICATION

I, Jeff Thachuk, certify that:

1. I have reviewed this Form 10-Q for the period ended September 30, 2012 of Coronus Solar Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and,

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 14, 2012	JEFF THACHUK
		Jeff Thachuk
		Principal Executive Officer and Principal Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. Section 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Coronus Solar Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2012, as filed with the Securities and Exchange Commission on the date here of (the “report”), I, Jeff Thachuk, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated this 14th day of November, 2012.

JEFF THACHUK

Jeff Thachuk

Chief Executive Officer and Chief Financial Officer

XML

Note 7 - Property, Plant and Equipment (Detail) - Property, Plant and Equipment (USD $)	Sep. 30, 2012	Mar. 31, 2012
Office equipment	$ 1,396	$ 1,373
Computer equipment	1,067	1,051
Land	934,744	334,599
	$ 937,207

XML

Note 15 - Stockholders' Equity (Detail) - Outstanding and Exercisable Options	Sep. 30, 2012	Mar. 31, 2012
	0.065	0.065

XML

Note 13 - Promissory Note (Detail)	1 Months Ended	12 Months Ended	13 Months Ended
	Sep. 12, 2012 CAD	Mar. 31, 2012 USD ($)	Feb. 23, 2013	Sep. 30, 2012 USD ($)	Aug. 17, 2012 USD ($)	Aug. 10, 2012 CAD	Apr. 25, 2012 USD ($)	Jun. 30, 2011 USD ($)	May 16, 2011 USD ($)	Apr. 19, 2011 USD ($)	Mar. 31, 2011 USD ($)	Mar. 17, 2011 USD ($)
Debt Instrument, Face Amount		$ 100,090		$ 235,000	$ 136,000	40,000	$ 349,000	$ 32,000	$ 32,000	$ 235,000	$ 37,000	$ 37,000
Debt Instrument, Interest Rate During Period	12.00%	4.00%	12.00%
Debt Instrument, Periodic Payment, Interest	408

XML

Note 15 - Stockholders' Equity (Detail) - Fair Value of Warrants	12 Months Ended
	Mar. 31, 2012
Dividend yield	0.00%

XML

Note 12 - Notes Payable (Detail)	Apr. 19, 2015	Oct. 31, 2012 USD ($) acre	Oct. 24, 2012 acre	Sep. 30, 2012 acre	Sep. 30, 2012 USD ($) sqm	Aug. 17, 2012 USD ($) acre	Aug. 10, 2012 CAD	Jun. 30, 2012 acre	Apr. 25, 2012 USD ($) acre	Apr. 19, 2012 acre	Apr. 13, 2012 acre	Apr. 05, 2012 acre	Mar. 31, 2012 USD ($)	Sep. 30, 2011 acre	Jun. 30, 2011 USD ($) acre	May 16, 2011 USD ($) acre	Apr. 19, 2011 USD ($)	Mar. 31, 2011 USD ($) acre	Mar. 17, 2011 USD ($) acre	Mar. 31, 2010 acre
Area of Land (in Acres)		56.03	24.23	34.07	34.07	34.07		56.03	40	40	40	20		40	39.25	39.25		20	20	30
Debt Instrument, Face Amount					$ 235,000	$ 136,000	40,000		$ 349,000				$ 100,090		$ 32,000	$ 32,000	$ 235,000	$ 37,000	$ 37,000
Debt Instrument, Interest Rate, Effective Percentage	6.50%			6.50%	6.50%	6.50%									6.50%	6.50%		6.50%	6.50%
Interest Payable		$ 1,726			$ 100								$ 17,991

XML

Note 1 - Nature of Operations (Detail) (USD $)	0 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 02, 2009	Mar. 31, 2011	Sep. 30, 2012	Mar. 31, 2010
Shares, Outstanding	2,000,000
Subsidiary or Equity Method Investee, Price-Per-Share (in Dollars per share)	$ 0.025
Number of Shares Transferred Under Share Purchase Agreement	2,025,000
Number of Shares, Price Paid, Transferred Under Share Purchase Agreement (in Dollars)	$ 1
Number of Stock Options Cancelled (in Dollars)	$ 905,000
Stock Issued During Period, Shares, Acquisitions (in Shares)	4,025,000	1,097,400	9,876,600	2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	350,000
Fair Value Assumptions, Exercise Price (in Dollars per share)	$ 0.065	$ 0.60
Shares Held in Escrow	9,050,000

XML

Note 15 - Stockholders' Equity (Detail) - Warrants Outstanding (USD $)	Sep. 30, 2012	Mar. 31, 2012	Mar. 31, 2011
	$ 533,666	$ 350,000	$ 350,000
	$ 533,666	$ 350,000	$ 350,000

XML

Note 19 - Subsequent Events

3 Months Ended

Sep. 30, 2012

Subsequent Events [Text Block]

Note 19 - Subsequent Events

(a) Entry into Utility Interconnection Study Agreement

On October 11, 2012, Coronus entered into a System Impact Study Agreement (the “SIS Agreement for 29-Palms North 4”) with SCE. The SIS Agreement relates to Coronus’ application for interconnection service and the CREST tariff for a 1.5 MW solar photovoltaic power system on SCE’s Sheephole 33kV distribution circuit, situated north of Twentynine Palms, in the County of San Bernardino, California.

The SIS Agreement sets forth the terms and conditions for SCE to perform a system impact study to determine the impacts that would result from interconnecting the PV system and the adequacy of SCE’s electrical system to accommodate it. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of the study is $10,000. The results of the study are anticipated to be completed within 120 business days. On entering into the SIS Agreement, Coronus paid SCE the $10,000 deposit.

(b) Entry into Vacant Land Purchase Agreement

On October 24, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “29-Palms Morongo Agreement”). Under the 29-Palms Morongo Agreement, Coronus agrees to acquire a 24.23 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price is $86,683, all cash. Close of escrow is December 31, 2012. Coronus deposited $1,000 into escrow and agrees to deposit an additional $85,683 within sufficient time to close escrow. The 29-Palms Morongo Agreement is subject to Coronus’ board of director approval on or before December 17, 2012.

(c) Entry into Industry Solar PV Asset Sale Agreement

On October 24, 2012, Coronus entered into a Solar Photovoltaic Asset Sale Agreement (the “Industry Solar PV Asset Sale Agreement”) with Solar Krafte Utilities Inc. (“Solar Krafte”). Solar Krafte holds a contract to purchase Industry Solar Power Generation Station 1 LLC (“Industry”). Under the Industry Solar PV Asset Sale Agreement, Coronus agreed to purchase Industry from Solar Krafte for $1,250,000 (the “Cash Price”). Industry is a party to a Power Purchase Agreement (the “Industry PPA”) with SCE, under the CREST tariff, for a 1.5 MW concentrated photovoltaic power system (the “Industry System”). Completion of the Industry Solar PV Asset Sale Agreement is contingent on SCE approving 1) a design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, and 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Each party has the right to terminate the Industry Solar PV Asset Sale Agreement effective upon notice to the other party if SCE fails to approve, within 90 days from October 24, 2012, 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel.

On entering into the Industry Solar PV Asset Sale Agreement, Coronus deposited $40,000 with Solar Krafte, refundable to Coronus if SCE refuses to approve 1) the design change to the Industry System, 2) the invocation of Section 2.9(c) of the Industry PPA, or 3) the relocation of the generating facility to Coronus’ Adelanto West Parcel. Under the Industry Solar PV Asset Sale Agreement, Solar Krafte covenanted, represented and warranted to Coronus that (a) Industry was, and will be, a party in good standing to the Industry PPA, as at the date of the Industry Solar PV Asset Sale Agreement and the closing date, and (b) but for the obligations of Industry, pursuant to the Industry PPA, Industry had, and will have, no obligations as at the date of the Industry Solar PV Asset Sale Agreement and the closing date.

The Industry PPA is a standardized, must-take, full buy/ sell, power purchase agreement, where SCE purchases all of the generating facility’s generation, net of station use. The term of the Industry PPA is 20 years. The price SCE pays for the generation shall be premised on the adopted 2009 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Industry PPA. Without the invocation of Section 2.9(c) of the Industry PPA, extending the initial operation deadline of the generating facility, initial operation of the generating facility must be no later than June 28, 2013. The Industry PPA includes, but is not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance.

Jeff Thachuk, the Company’s president and a control person of the Company, is the chairman, chief executive officer, and a control person of Solar Krafte. Mark Burgert, a control person of the Company, is the president and a control person of Solar Krafte. On October 24, 2012, the Company’s board of directors approved Coronus’ entry into the Industry Solar PV Asset Sale Agreement. As a director of the Company, Mr. Thachuk declared his interest in the transaction and abstained from voting on the approval of the Industry Solar PV Asset Sale Agreement.

XML

Note 14 - Convertible Promissory Notes (Detail) - Discount on Issuance Convertible Promissory Notes	Oct. 31, 2012 USD ($)	Sep. 30, 2012 USD ($)	Aug. 17, 2012 USD ($)	Aug. 10, 2012 CAD	Apr. 25, 2012 USD ($)	Mar. 31, 2012 USD ($)	Jun. 30, 2011 USD ($)	May 16, 2011 USD ($)	Apr. 19, 2011 USD ($)	Mar. 31, 2011 USD ($)	Mar. 17, 2011 USD ($)
Face value		$ 235,000	$ 136,000	40,000	$ 349,000	$ 100,090	$ 32,000	$ 32,000	$ 235,000	$ 37,000	$ 37,000
Effective interest (137%)	1,726	100				17,991
						$ 15,198

XML

Note 9 - Intangible Assets (Detail) - Intangible Assets (USD $)	3 Months Ended
	Sep. 30, 2012	Mar. 31, 2012
Business plan	$ 21,500	$ 21,500

XML

Note 6 - Earnings (Loss) per Share (Detail) - Diluted Earnings Per Share	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Weighted average number of common shares at September 30	27,096,086	26,729,086	27,096,086	26,729,086
Effect of share options on issue	691,900		691,900
Effect of share warrants on issue	133,417		133,417
Diluted Weighted average number of common shares at September 30	22,875,748	27,079,086	25,384,789	27,004,496

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Note 15 - Stockholders' Equity (Detail) - Changes in Stock Options	18 Months Ended
	Sep. 30, 2012
	745,000
Expired	(5,000)

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Note 12 - Notes Payable (Detail) - Notes Payable (USD $)	Sep. 30, 2012	Mar. 31, 2012
Twentynine Palms North		$ 32,084
Joshua Tree East	170,000	170,000
Adelanto West	235,551
Yucca Valley East	136,366
	541,917	202,084
Current
Newberry Springs	37,100	37,100
Twentynine Palms North	32,084
	69,184	37,100
Total	$ 611,101	$ 239,184

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Note 3 - Summary of Significant Accounting Policies

15 Months Ended

Sep. 30, 2012

Significant Accounting Policies [Text Block]

Note 3 – Summary of Significant Accounting Policies

The accompanying unaudited consolidated interim financial statements have been prepared in accordance with the instruction from Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and notes normally provided in the audited financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for fiscal year ended March 31, 2012 filed with the United States Securities and Exchange Commission. The result of operations for the interim periods presented is not necessarily indicative of the results to be expected for the full year.

The accompanying unaudited consolidated interim balance sheets, statements of operations and comprehensive income (loss), stockholders’ equity and cash flows reflected all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of the Company, at September 30, 2012, and the results of operations and cash flows for the six months ended September 30, 2012, and for the period from December 3, 2001 (Date of Commencement) to September 30, 2012.

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Note 9 - Intangible Assets (Detail) - Intangible Assets (USD $)	3 Months Ended
	Sep. 30, 2012	Mar. 31, 2012
Business plan	$ 21,500	$ 21,500

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Note 9 - Intangible Assets (Tables)

3 Months Ended

15 Months Ended

Mar. 31, 2012

Sep. 30, 2012

Schedule of Finite-Lived Intangible Assets [Table Text Block]

March 31, 2012

		Accumulated		Net book
March 31, 2012	Cost	amortization	Write-off	value
Business plan	21,500	17,320	-	4,180

September 30, 2012

		Accumulated		Net book
September 30, 2012	Cost	amortization	Write-off	value
Business plan	21,500	20,902	-	598

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Note 7 - Property, Plant and Equipment (Tables)

3 Months Ended

15 Months Ended

Mar. 31, 2012

Sep. 30, 2012

Schedule of Property, Plant and Equipment

March 31, 2012

				Accumulated		Net book
March 31, 2012		Cost		depreciation		value
Office equipment	$	1,373	$	1,220	$	153
Computer equipment		1,051		1,014		37
Land		334,599		-		334,599
	$	337,023	$	2,234	$	334,789

September 30, 2012

				Accumulated		Net book
September 30, 2012		Cost		depreciation		value
Office equipment	$	1,396	$	1,256	$	140
Computer equipment		1,067		1,034		33
Land		934,744		-		934,744
	$	937,207	$	2,290	$	934,917

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Note 15 - Stockholders' Equity (Detail) - Warrants Outstanding (USD $)	Sep. 30, 2012	Mar. 31, 2012	Mar. 31, 2011
	$ 533,666	$ 350,000	$ 350,000
	$ 533,666	$ 350,000	$ 350,000

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Note 10 - Sycamore Solar Photovoltaic Asset Sale Agreement (Detail) (USD $)	0 Months Ended		5 Months Ended	6 Months Ended	118 Months Ended
	Apr. 05, 2012 acre	Apr. 11, 2012	Sep. 06, 2012	Sep. 30, 2012 acre sqm	Sep. 30, 2011 acre	Oct. 31, 2012 acre	Oct. 24, 2012 acre	Aug. 17, 2012 acre	Jun. 30, 2012 acre	Apr. 25, 2012 acre	Apr. 19, 2012 acre	Apr. 13, 2012 acre	Jun. 30, 2011 acre	May 16, 2011 acre	Mar. 31, 2011 acre	Mar. 17, 2011 acre	Mar. 31, 2010 acre
Area of Land (in Acres)	20			34.07	40	56.03	24.23	34.07	56.03	40	40	40	39.25	39.25	20	20	30
Asset Sale Total Purchase Price	$ 1,726,219
Asset Sale Cash Paid		817,200	909,019
Gain (Loss) on Disposition of Assets				$ (1,723,710)	$ (1,723,710)

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Note 12 - Notes Payable (Tables)

3 Months Ended

Sep. 30, 2012

Schedule of Debt [Table Text Block]

September 30, 2012

		September 30,		March 31,
Vacant Land		2012		2012
Twentynine Palms North	$	-	$	32,084
Joshua Tree East		170,000		170,000
Adelanto West		235,551		-
Yucca Valley East		136,366		-
	$	541,917	$	202,084
Current
Newberry Springs	$	37,100	$	37,100
Twentynine Palms North		32,084		-
	$	69,184	$	37,100
Total	$	611,101	$	239,184

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Note 14 - Convertible Promissory Notes (Tables)

3 Months Ended

Sep. 30, 2012

Schedule of Debt Conversions [Table Text Block]

	US$	CAD$
Face value	100,090	100,000
Effective interest (137%)	(84,892)	(84,816)
	15,198	15,184

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Note 2 - Basis of Presentation - Going Concern Uncertainties

15 Months Ended

Sep. 30, 2012

Basisof Presentation Going Concern Uncertainties

Note 2 – Basis of Presentation - Going Concern Uncertainties

The Company is considered a development stage company as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities”. The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern.  However, the Company has limited operations and has sustained operating losses in recent years resulting in an accumulated deficit. In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon the continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements, and the success of its future operations.

The Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and/or achieving a sustainable profitable level of operations. Management plans to obtain additional financing through the issuance of shares, in order to allow the Company to complete its development phase and commence earning revenue. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities other than in the normal course of business.

The Company will seek additional equity as necessary and it expects to raise funds through private or public equity investment in order to support existing operations and expand the range of its business. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all.

Information on the Company’s working capital and deficit is:

		September 30,		March 31,
		2012		2012
Working capital (deficiency)	$	723,557	$	(390,180)
Deficit		342,789		1,715,649

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Note 15 - Stockholders' Equity (Tables)

6 Months Ended

12 Months Ended

18 Months Ended

Sep. 30, 2012

Mar. 31, 2012

Sep. 30, 2012

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Period Ended September 30, 2012 and Year Ended March 31, 2012

	Options Outstanding
	Number of		Weighted average
	shares		exercise price
Balance, March 31, 2012 and 2011	745,000	$	0.065
Expired	(5,000)		0.105
Balance, September 30, 2012	740,000	$	0.065

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]

September 30, 2012

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	September 30,	Contractual		Exercise	September 30,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$                0.065	740,000	3.15	$	0.065	740,000	$	0.065

March 31, 2012

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	March 31,	Contractual		Exercise	March 31,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$              0.065	740,000	3.65	$	0.065	740,000	$	0.065
0.105	5,000	0.11		0.105	5,000		0.105
$0.065 - $0.105	745,000	3.63	$	0.065	745,000	$	0.065

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

September 30, 2012

							Exercise		Average
Balance	Issued	Exercised	Cancelled	Balance	Exercise		price		Remaining
as at	during the	during the	during the	as at	price		(USD		Contractual
3/31/2012	period	period	period	9/30/2012	(CAD)		equivalent)		Life in Years
350,000	-	-	-	350,000	$	0.75	$	0.74	3.61
17,000	-	-	-	17,000	$	0.75	$	0.74	4.07
166,666	-	-	-	166,666	$	0.75	$	0.74	4.35
533,666	-	-	-	533,666	$	0.75	$	0.74	3.85

March 31, 2012

	Year ended
	March 31, 2012
Expected volatility		100.13% - 105.17	%
Risk free interest rate		1.10% - 1.91	%
Expected life	5 years
Dividend yield		0.00	%

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Note 7 - Property, Plant and Equipment (Detail) - Property, Plant and Equipment (USD $)	Sep. 30, 2012	Mar. 31, 2012
Office equipment	$ 1,396	$ 1,373
Computer equipment	1,067	1,051
Land	934,744	334,599
		$ 337,023

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Note 15 - Stockholders' Equity (Detail) - Outstanding and Exercisable Options	Sep. 30, 2012	Mar. 31, 2012
	0.065	0.065

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Consolidated Balance Sheets(USD ($))	Sep. 30, 2012	Mar. 31, 2011
CURRENT
Cash and cash equivalents	$ 600,661	$ 327
Other receivables	6,563	900
Prepaid expenses and deposit (Note 16(d))	209,556	42,149
Assets held for sale (Note 9)		40,161
TOTAL CURRENT ASSETS	816,780	83,537
CONSTRUCTION IN PROGRESS (Note 16(a))	658,440	6,584,400
PROPERTY, PLANT AND EQUIPMENT (Note 7)	934,917	334,789
INTANGIBLE ASSET (Note 8)	598	4,180
TOTAL ASSETS	2,410,735	7,006,906
CURRENT
Accounts payable and accrued liabilities	23,122	144,656
Loan from a shareholder (Note 10)		243,288
Convertible notes payable (Note 12)		15,198
Notes payable (Note 11)	69,184	37,100
Liabilities held for sale		33,475
TOTAL CURRENT LIABILITIES	93,223	473,717
NOTES PAYABLE (Note 11)	541,917	202,084
TOTAL LIABILITIES	634,223	675,801
STOCKHOLDERS’ EQUITY SHARE CAPITAL (Note 13)
Issued and outstanding: 17,219,486 common shares (March 31, 2012: 27,096,086)	1,548,492	7,474,452
ADDITIONAL PAID IN CAPITAL	598,534	598,534
ACCUMULATED OTHER COMPREHENSIVE LOSS	(27,725)	(26,232)
DEFICIT, accumulated during the development stage	(342,789)	(1,715,649)
TOTAL STOCKHOLDERS’ EQUITY	1,776,512	6,331,105
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,410,735	$ 7,006,906

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Note 11 - Loan From A Shareholder (Detail)	1 Months Ended			3 Months Ended	12 Months Ended		13 Months Ended	18 Months Ended	130 Months Ended
	Sep. 12, 2012	Apr. 18, 2012 USD ($)	Apr. 18, 2012 CAD	Sep. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)	Feb. 23, 2013	Sep. 30, 2012 CAD	Sep. 30, 2012 USD ($)	Oct. 31, 2012 USD ($)
Increase (Decrease) in Notes Payable, Related Parties		$ 7,021			$ 39,335
Debt Instrument, Interest Rate During Period	12.00%				4.00%		12.00%
Increase (Decrease) in Notes Payable, Related Parties, Current			237,780		66,831
Out-of-Pocket Expense (in Dollars)			1,292
Professional and Contract Services Expense (in Dollars)				23,941	38,409	20,000		48,000	20,928
Interest Payable				$ 100	$ 17,991				$ 100	$ 1,726

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Consolidated Statements of Cash Flows (USD $)	6 Months Ended	18 Months Ended	118 Months Ended	130 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2011	Sep. 30, 2012
OPERATING ACTIVITIES
Net income (loss) from operations	$ 1,372,860	$ (173,429)	$ (342,789)	$ (342,789)
Adjustments to reconcile net loss to net cash
Amortization	3,603	3,611	56,750
Foreign exchange gain/loss	(8,457)	2,748	(20,930)	(14,191)
Forgiveness of debt		39,016	249,069
Imputed interests			27,873
Share issued for services / debts			26,301
Stock based compensation			492,309	492,309
Amortization on discount of convertible notes	86,818		102,016
Gain on sale of assets	(1,717,024)		(1,717,024)
Write down of website development costs			17,390	17,390
Write-off trademark cost			279	279
Changes in non-cash working capital:
Other receivables	(5,544)	(4,420)	(5,189)
Prepaid expenses	(167,379)	(16,252)	(233,399)
Accounts payables and accrued liabilities	(120,399)	19,636	57,280
NET CASH USED IN OPERATING ACTIVITIES	(547,065)	(129,090)	(1,290,064)
INVESTING ACTIVITIES
Property, plant and equipment			(1,871)
Land acquisition	(229,354)	(38,220)	(361,944)
Land Deposit		15	(46,408)
Net proceeds on sales of assets	1,723,710		1,723,710
Intangible asset			(369)
NET CASH USED IN INVESTING ACTIVITIES	1,494,356	(38,205)	1,313,118
FINANCING ACTIVITIES
Issuance of common shares		218,522	591,861
Loan from a shareholder	(242,466)	(37,585)	(46,849)
Payment of deferred financing fee		(10,667)
Note payable			37,100
Convertible note payable	(101,965)		(1,267)
NET CASH FROM FINANCING ACTIVITIES	(344,432)	170,270	580,844
EFFECT OF EXCHANGE RATE ON CASH	(2,525)	(6,477)	(3,237)
NET INCREASE (DECREASE) IN CASH	600,284	(3,502)	600,611
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - Beginning of Period	327	6,233
CASH AND CASH EQUIVALENTS - End of Period	600,661	2,731	2,731	600,661
SUPPLEMENTAL CASH FLOWS INFORMATION
Interest expense paid in cash	34,994	7,765	52,630
NON-CASH FINANCING ACTIVITIES
Issuance of common shares for acquisition of Coronus Energy Corp.			21,638
Establishment of intangible asset through acquisition of Coronus Energy Corp.			21,500
Issuance of common shares for construction of solar power plant			6,584,400
Cancellation of common shares for amendment of the agreement	$ (5,925,960)		$ 5,925,960

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Note 18 - Commitments (Detail)	0 Months Ended					3 Months Ended				6 Months Ended		12 Months Ended				18 Months Ended		118 Months Ended	130 Months Ended
	Oct. 31, 2012 USD ($) acre	Oct. 11, 2012 USD ($)	Sep. 30, 2012 USD ($) sqm acre	Mar. 31, 2011 USD ($) acre	Nov. 02, 2009 USD ($)	Sep. 30, 2012 USD ($) sqm acre	Mar. 31, 2012 USD ($)	Sep. 30, 2011 USD ($) acre	Mar. 31, 2011 USD ($) acre	Sep. 30, 2012 USD ($) sqm acre	Sep. 30, 2011 USD ($) acre	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($) acre	Mar. 31, 2011 CAD	Mar. 31, 2010 USD ($) acre	Sep. 30, 2012 CAD sqm	Sep. 30, 2011 USD ($) acre	Sep. 30, 2011 USD ($) acre	Sep. 30, 2012 USD ($) sqm acre	Oct. 24, 2012 USD ($) acre	Aug. 17, 2012 USD ($) acre	Aug. 15, 2012 USD ($)	Aug. 10, 2012 CAD	Jun. 30, 2012 acre	Apr. 25, 2012 USD ($) acre	Apr. 19, 2012 acre	Apr. 13, 2012 acre	Apr. 05, 2012 acre	Aug. 08, 2011 USD ($)	Jun. 30, 2011 USD ($) acre	May 16, 2011 USD ($) acre	Apr. 19, 2011 USD ($)	Mar. 17, 2011 USD ($) acre	Mar. 31, 2008 USD ($)	Mar. 31, 2007 USD ($)	Mar. 31, 2006 USD ($)	Mar. 31, 2004 USD ($)	Mar. 31, 2003 USD ($)
Contractual Obligation				$ 76,818,000					$ 76,818,000				$ 76,818,000																$ 80,000,000
Stock Issued During Period, Value, Acquisitions									11,522,700						21,638
Stock Issued During Period, Shares, Acquisitions (in Shares)					4,025,000				1,097,400	9,876,600					2,000,000
Sale of Stock, Price Per Share (in Dollars per share)				$ 1.05					$ 1.05				$ 1.05	0.402	$ 0.025	0.60																		$ 0.0485	$ 0.044	$ 0.042	$ 0.0835	$ 0.0725
Fair Value Assumptions, Exercise Price (in Dollars per share)				$ 0.60	$ 0.065				$ 0.60				$ 0.60
Construction in Progress, Gross			658,440	6,584,400		658,440			6,584,400	658,440			6,584,400						658,440			5,925,960
Property, Plant and Equipment, Additions				76,818,000		1,097,400												(1,871)
Stock Cancelled During PeriodShares (in Shares)																						9,876,600
Professional and Contract Services Expense						23,941						38,409	20,000			48,000			20,928
Area of Land (in Acres) (in Acres)	56.03		34.07	20		34.07		40	20	34.07	40		20	20	30	34.07	40	40	34.07	24.23	34.07			56.03	40	40	40	20		39.25	39.25		20
Purchase Price of Land																				86,683					350,000
Escrow Deposit																				1,000					1,000
Debt Instrument, Face Amount			235,000	37,000		235,000	100,090		37,000	235,000		100,090	37,000						235,000		136,000		40,000		349,000					32,000	32,000	235,000	37,000
Professional Fees						19,214		18,136		49,468	40,865			6,807					398,867
Interest Paid	1,784		1,726							34,994							7,765	52,630
Interest Payable	1,726		100			100	17,991			100		17,991							100
		10,000				72,857	30,000	25,000		116,157	41,733								233,027
Construction and Development Costs										$ 37,604

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Note 6 - Earnings (Loss) per Share (Detail) (USD $)	3 Months Ended		6 Months Ended		18 Months Ended	118 Months Ended	130 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2011	Sep. 30, 2011	Sep. 30, 2012
Net Income (Loss) Attributable to Parent (in Dollars)	$ 774,370	$ (92,876)	$ 1,372,860	$ (173,429)	$ (173,429)	$ (342,789)	$ (342,789)
Weighted Average Number of Shares Outstanding, Basic	22,050,432	27,079,086	24,559,473	27,004,496
Weighted Average Number of Shares Outstanding, Diluted	22,875,748	27,079,086	25,384,789	27,004,496
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				533,666
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		740,000

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Note 16 - Contingent Liabilities

3 Months Ended

Sep. 30, 2012

Contingencies Disclosure [Text Block]

Note 16 - Contingent Liabilities

Management of the Company has opted for the Company to self-insure against business and liability risks rather than purchase third party insurance coverage. Consequently the Company is exposed to financial losses or failure as a result of these risks.

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Note 6 - Earnings (Loss) per Share (Detail) - Basic Earnings per Share	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Issued common share at April 1	27,096,086	26,729,086	27,096,086	26,729,086
Issued during the period		350,000		275,410
Cancelled during the period	(5,045,654)		(2,536,613)
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496

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Note 18 - Commitments

3 Months Ended

Sep. 30, 2012

Commitments Disclosure [Text Block]

Note 18 – Commitments

(a) Purchase of Solar Photovolatic Power Systems

On March 31, 2011, the Company and Coronus entered into a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW_ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a deemed price of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress when the agreement was first entered into.

On August 15, 2012, the Company amended the purchase agreement for the Solar Power Systems with Belectric. Under the amended agreement (the “Amended Solar Power Systems Agreement”), the provision of Coronus to purchase a total of 21 MW of utility-scale, ground-mount, solar PV power systems from Belectric, for consideration of $76,818,000, exclusive of taxes (the “Original Basic Price”), was modified. Under the Amended Solar Power Systems Agreement, Coronus and Belectric agree to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis (the “Purchase and Sale Agreements”). The Amended Solar Power Systems Agreement is effective as of August 15, 2012, and shall remain in full force and effect for three years (the “Three Year Term”), but shall expire prior to the Three Year Term provided Coronus and Belectric enter into Purchase and Sale Agreements totaling 100 MW of solar power systems prior to the expiry of the Three Year Term. Further, throughout the term of the Amended Solar Power Systems Agreement, Belectric retains the exclusive right to negotiate Purchase and Sale Agreements with Coronus for solar power systems.

On entering into the original Solar Power Systems Agreement, the Company paid 15% of the Original Basic Price, or $11,522,700, by way of issuing 10,974,000 shares (the “Original Payment Shares”) of its common stock to Belectric, at a deemed price of $1.05 per share. Under the Amended Solar Power Systems Agreement, as additional purchase and sale consideration, Belectric kept 1,097,400 of the Original Payment Shares. Accordingly, 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012.

(b) Advisory Service Agreement

On August 8, 2011, the Company entered into a financial advisory service agreement (the “Advisory Agreement”) with Source Capital Group Inc (“SCG”). Under the Advisory Agreement, SCG shall use its best efforts to provide up to $80,000,000 in financing (the “Financing”) for the Company and/or the Company’s affiliates. The financing may consist of debt (the “Debt Financing”) or equity (the “Equity Financing”) or both. Under the Advisory Agreement, SCG shall be compensated 6% cash and 6% 5 year warrants priced at 100% of any offering price on any Equity Financing raised by SCG. In addition, SCG shall be compensated 3% cash on any Debt Financing raised by SCG.

As at September 30, 2012, $nil (March 31, 2012: $20,000) had been expensed related to the advisory service agreement.

The term of the Advisory Agreement is 120 days from August 8, 2011 (the “Expiration Date”), and will be automatically renewed on a monthly basis until canceled in writing by either the Company or SCG. The Advisory Agreement may be terminated upon 60 days written notice without cause by either the Company or SCG at any time before the Expiration Date.

Under the original Advisory Agreement, the Company’s relationship with SCG was exclusive. Effective December 8, 2011, the relationship with SCG is no longer exclusive.

(c) Acquisition of Vacant Land

(i) Phelan South Agreement

On April 25, 2012, Coronus entered into a Vacant Land Purchase Agreement (the “Phelan South Agreement”) to acquire a 40 acre parcel of vacant land, situated in Phelan, an unincorporated community in the County of San Bernardino, California. The purchase price is $350,000, all cash. Coronus deposited $1,000 into escrow and agrees to deposit an additional $349,000 within sufficient time to close escrow. Initially, close of escrow was August 15, 2012, but was extended to September 15, 2012 and further extended to March 15, 2013. Under the Phelan South Agreement, the Seller agrees to include, and transfer to Coronus, one share of Sheep Creek Water Co. Additionally, on closing, Coronus agrees to pay the realtor commission of $5,000. Initially, the Phelan South Agreement was subject to Coronus’ Board of Director approval on or before July 31, 2012, but this approval was extended to on or before August 31, 2012 and further extended to on or before February 28, 2013. Additionally, Coronus is now required to make the following, non-refundable payments to the Seller, separate from the purchase price:

September 30, 2012 - $1,726 (paid on September 30, 2012)

October 31, 2012 - $1,784 (paid on October 31, 2012)

November 30, 2012 - $1,726

December 31, 2012 - $1,784

January 31, 2013 - $1,784

February 28, 2013 - $1,611

March 15, 2013 - $863

(d) Entry into Utility Interconnection Studies

(i) SIS Study Agreements for Projects Coronus Joshua Tree East 1, 2 and 3

On February 23, 2012, Coronus entered into three System Impact Study Agreements (the “SIS Study Agreement for Coronus Joshua Tree East 1”, the “SIS Study Agreement for Coronus Joshua Tree East 2”, and the “SIS Study Agreement for Coronus Joshua Tree East 3”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California, Coronus acquired on June 30, 2011 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the three PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed by September 1, 2012. On entering into the SIS Study Agreements, Coronus paid SCE the three $10,000 deposits, for a total payment of $30,000. On October 15, 2012, Coronus received the SIS Study Agreements for Coronus Joshua Tree East 1, 2 and 3.

(ii) SIS Study Agreements for Projects Coronus Adelanto West 1 and 2

On April 13, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Adelanto West 1” and the “SIS Study Agreement for Coronus Adelanto West 2”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on the 40 acre parcel of vacant land, situated in the City of Adelanto, California, Coronus acquired on April 19, 2012 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study is $10,000. The results of the SIS studies are anticipated to be completed by November 19, 2012. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000.

(iii) SIS Study Agreements for Projects Coronus Apple Valley East 1 and 2

On May 3, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Apple Valley East 1” and the “SIS Study Agreement for Coronus Apple Valley East 2”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on SCE’s Tussing 12 kV distribution circuit, situated east of Apple Valley, in the County of San Bernardino, California.

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed within 120 business days. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000. On October 26, 2012, Coronus received the SIS Study Agreements for Coronus Apple Valley East 1 and 2.

(iv) SIS Study Agreements for Projects Coronus Joshua Tree East 4 and 5

On June 25, 2012, Coronus entered into two System Impact Study Agreements (the “SIS Study Agreement for Coronus Joshua Tree East 4” and the “SIS Study Agreement for Coronus Joshua Tree East 5”) with SCE. The SIS Study Agreements relate to Coronus’ application for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems on the 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California, Coronus acquired on June 30, 2011 (see Note 7).

The SIS Agreements set forth the terms and conditions for SCE to perform system impact studies to determine the impacts that would result from interconnecting the two PV systems and the adequacy of SCE’s electrical system to accommodate them. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of each SIS study was $10,000. The results of the SIS studies were anticipated to be completed within 120 business days. On entering into the SIS Study Agreements, Coronus paid SCE the two $10,000 deposits, for a total payment of $20,000. On October 15, 2012, Coronus received the SIS Study Agreements for Coronus Joshua Tree East 4 and 5.

(v) SIS Study Agreement for Project Coronus Yucca Valley East 3

On June 25, 2012, Coronus entered into a System Impact Study Agreement (the “SIS Study Agreement for Coronus Yucca Valley East 3”) with SCE. The SIS Study Agreement relates to Coronus’ application for interconnection service and the CREST tariff for a 1.5 MW solar PV power system on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California, Coronus agrees to acquire pursuant to the Yucca Valley East Agreement [see Note 16(c)(ii)].

The SIS Agreement sets forth the terms and conditions for SCE to perform a system impact study to determine the impacts that would result from interconnecting the PV system and the adequacy of SCE’s electrical system to accommodate it. In addition, SCE shall make a preliminary determination of the required interconnection facilities and distribution system upgrades, and any other modifications or additions that would be needed. The estimated cost of the SIS study is $10,000. The results of the SIS study are anticipated to be completed on December 14, 2012. On entering into the SIS Study Agreement, Coronus paid SCE the $10,000 deposit.

(e) Power Purchase Agreements

(i) Power Purchase Agreements for Projects Coronus Yucca Valley East 1 and 2

On August 30, 2012 (the “Yucca Valley East PPAs Effective Date”), Coronus’ wholly-owned subsidiaries, Coronus Yucca Valley East 1 LLC and Coronus Yucca Valley East 2 LLC, entered into two identical Power Purchase Agreements (the “Yucca Valley East PPAs”) with SCE. The Yucca Valley East PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for two 1.5 MW solar PV power systems (the “Yucca Valley East 1 and Yucca Valley East 2 Projects”) on the 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California (the “Yucca Valley East Property”), Coronus acquired on August 17, 2012.

(i) Power Purchase Agreements for Projects Coronus Yucca Valley East 1 and 2 - Continued

The Yucca Valley East PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the Yucca Valley East 1 and Yucca Valley East 2 Projects’ generation, net of station use. The term of the Yucca Valley East PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the Yucca Valley East PPAs. Initial operation of the Yucca Valley East 1 and Yucca Valley East 2 Projects must be no later than eighteen months from the Yucca Valley East PPAs Effective Date. The Yucca Valley East PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the Yucca Valley East PPAs Effective Date, Coronus was required to post and maintain development fees (the “Yucca Valley East Development Securities”) equal to $37,604 per Yucca Valley East PPA. If, on or before initial operation, Coronus demonstrates to SCE’s satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the Yucca Valley East Development Securities to Coronus within thirty days of each facility’s initial operation. The power purchase agreement development securities for Yucca Valley East 1 and 2 of $37,604 and $37,604 were paid on September 27, 2012, respectively.

(ii) Power Purchase Agreements for Projects Coronus 29-Palms North 1, 2 and 3

On August 30, 2012 (the “29-Palms North PPAs Effective Date”), Coronus’ wholly-owned subsidiaries, Coronus 29-Palms North 1 LLC, Coronus 29-Palms North 2 LLC, and Coronus 29-Palms North 3 LLC, entered into three identical Power Purchase Agreements (the “29-Palms North PPAs”) with SCE. The 29-Palms North PPAs relate to Coronus’ applications for interconnection service and the CREST tariff for three 1.5 MW solar PV power systems (the “29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects”) in respect of the 12kV distribution circuit that feeds the 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California (the “29-Palms North Property”), Coronus acquired on May 16, 2011.

The 29-Palms North PPAs are standardized, must-take, full buy/ sell, power purchase agreements, where SCE purchases all of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects’ generation, net of station use. The term of the 29-Palms North PPAs is 20 years. The price SCE pays for the generation shall be premised on the adopted 2011 Market Price Referent, and shall be adjusted according to SCE’s time of delivery periods and energy allocation factors, as scheduled in the 29-Palms North PPAs. Initial operation of the 29-Palms North 1, 29-Palms North 2, and 29-Palms North 3 Projects must be no later than eighteen months from the 29-Palms North PPAs Effective Date. The 29-Palms North PPAs include, but are not limited to, provisions in respect of termination, facility operation, billing and payment, curtailment, and insurance. Additionally, on or before the thirtieth day following the 29-Palms North PPAs Effective Date, Coronus was required to post and maintain development fees (the “29-Palms North Development Securities”) equal to $38,250 per 29-Palms North PPA. If, on or before initial operation, Coronus demonstrates to SCE’s satisfaction that it has installed all of the equipment or devices necessary for Coronus to satisfy the gross power rating of the generating facilities, SCE shall return the 29-Palms North Development Securities to Coronus within thirty days of each facility’s initial operation. The power purchase agreement development securities for 29-Palms North 1, 2 and 3 of $38,250, $38,250 and $38,250 were paid on September 27, 2012, respectively.

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Note 1 - Nature of Operations

15 Months Ended

Sep. 30, 2012

Nature of Operations [Text Block]

Note 1 – Nature of Operations

Coronus Solar Inc. (“the Company”) was incorporated under the Canada Business Corporations Act on December 3, 2001 under the name “The LectureNet Learning Corporation” and was registered extra-provincially in the Province of British Columbia on January 24, 2002. The name of the Company was changed to InsightfulMind Learning, Inc. effective August 26, 2002 and was further changed to Coronus Solar Inc. on November 3, 2009.

The Company’s current business is to deploy and operate utility-scale solar power systems in the State of California, U.S.A. The Company is located in the City of Vancouver, Province of British Columbia, Canada.

On November 2, 2009, the Company completed an agreement (the “Share Purchase Agreement”) to acquire all of the issued and outstanding shares of Coronus Energy Corp. (“Coronus”), a start-up stage company founded to deploy and operate utility-scale solar power systems in the State of California. Under the Share Purchase Agreement, the Company acquired all of the outstanding shares of Coronus in exchange for 2,000,000 (post stock forward split) common shares of the Company, at a deemed value of $0.025 per share.

Under the Share Purchase Agreement, 2,025,000 common shares of the Company held by Mr. Jeff Thachuk, President of the Company, were transferred to Mr. Mark Burgert, the sole principal of Coronus, for $1, on August 19, 2009 and an aggregate of 905,000 (post stock forward split) stock options of the Company held by various persons were cancelled on August 10, 2009. Mr. Thachuk was appointed as a director and the Chairman, CEO, CFO, Secretary and Treasurer of Coronus, with Mr. Burgert continuing to hold the office of President of Coronus.

The transfer of the 2,025,000 common shares of the Company held by Mr. Thachuk to Mr. Burgert was treated, as a contribution by Mr. Thachuk, as part of the consideration for the acquisition of Coronus. Accordingly, a total of 4,025,000 common shares was determined as the consideration for the acquisition.

The Company engaged Mr. Burgert as a consultant, and in consideration for this engagement, granted to Mr. Burgert an aggregate of 350,000 options exercisable at a price of $0.065 per share. Additionally, the 9,050,000 common shares of the Company that are now collectively held between Messrs. Thachuk and Burgert have been placed into voluntary escrow, to be released to each of them on the basis of one common share each for each $0.50 earned in revenue by the Company on a consolidated basis.

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Consolidated Balance Sheets (Parentheticals)	Sep. 30, 2012	Mar. 31, 2011
Common stock, issued	17,219,486	27,096,086
Common stock, outstanding	17,219,486	27,096,086

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Note 11 - Loan From A Shareholder

3 Months Ended

Sep. 30, 2012

Loanfroma Shareholder

Note 11 - Loan From A Shareholder

Loan from a shareholder represents a series of loans from a director and shareholder of the Company which were unsecured and due on demand.

During the year ended March 31, 2012, the director and shareholder lent the Company a further CAD$39,300 (USD$39,335). The additional loan was unsecured and due on demand, and accrued interest at the annual rate of 4%.

During the year ended March 31, 2012, the director and shareholder was repaid by the Company CAD$66,800 (USD$66,831) of the principal amount owing, in respect of the loan.

On April 18, 2012, the Company repaid, in full, the shareholder loan owed to the director and shareholder, inclusive of interest outstanding. Additionally, included in accounts payable as at April 18, 2012, CAD$1,292 was owed to our principal executive officer for out-of-pocket expenses.  On April 18, 2012, the Company repaid, in full, the out-of-pocket expenses outstanding, as at April 18, 2012. Accordingly, inclusive of the loan principal, interest owing, and out-of-pocket expenses incurred, in aggregate, on April 18, 2012, the Company repaid the director and shareholder CAD$237,780 and USD$7,021.

On September 12, 2012, the Company repaid, in full, the management fees of CAD$48,000 accrued to the director and shareholder for the prior year’s services provided.

At September 30, 2012, the Company has accrued interest payable of $nil (March 31, 2012: $17,991).

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Document And Entity Information (USD $)	6 Months Ended
	Sep. 30, 2012	Nov. 12, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	Coronus Solar Inc.
Document Type	10-Q
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		17,219,486
Entity Public Float		$ 5,485,010
Amendment Flag	true
Amendment Description	The sole purposes of this Amendment to the Registrant’s Quarterly Report on Form 10-Q for the period ended June 30, 2012 is to furnish the Interactive Data File exhibits pursuant to Rule 405 of Regulation S-T. Subsequent Events. No other changes have been made to this Form 10-Q other than to reflect events occurring subsequent to the filing of this Form 10-Q.
Entity Central Index Key	0001448900
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2

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Note 12 - Notes Payable

3 Months Ended

Sep. 30, 2012

Note Payable

Note 12 - Notes Payable

Notes payable at September 30, 2012 is summarized as follows:

		September 30,		March 31,
Vacant Land		2012		2012
Twentynine Palms North	$	-	$	32,084
Joshua Tree East		170,000		170,000
Adelanto West		235,551		-
Yucca Valley East		136,366		-
	$	541,917	$	202,084
Current
Newberry Springs	$	37,100	$	37,100
Twentynine Palms North		32,084		-
	$	69,184	$	37,100
Total	$	611,101	$	239,184

On March 17, 2011, Coronus completed the Newberry Springs Vacant Land Purchase Agreement to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $100 (March 31, 2012: $100).

On May 16, 2011, Coronus completed the Twentynine Palms North Vacant Land Purchase Agreement to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $84 (March 31, 2012: $84).

On June 30, 2011, Coronus completed the Joshua Tree East Vacant Land Purchase Agreement to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only.

On April 19, 2012, Coronus completed the Adelanto West Vacant Land Purchase Agreement to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. The vendor agreed to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $551 (March 31, 2012: $nil).

On August 17, 2012, Coronus completed the Yucca Valley East Vacant Land Purchase Agreement to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The vendor agreed to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. At September 30, 2012, the Company has accrued interest payable of $366 (March 31, 2012: $nil).

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Consolidated Statements of Operations and Comprehensive Loss(USD ($))	3 Months Ended		6 Months Ended		130 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
REVENUE					$ 1,751
EXPENSES
Amortization	1,801	1,805	3,604	3,611	56,751
Consulting fee	23,941				20,928
Interest on shareholder loan		2,169	430	4,551	28,303
Interest and bank charges	1,847	4,312	9,054	5,670	41,908
Office and miscellaneous	11,728	17,506	26,065	31,439	132,755
Professional fees	19,214	18,136	49,468	40,865	398,867
Repairs and maintenance					869
Salaries and wages	25,290	24,548	50,182	39,016	519,396
Stock based compensation					492,309
Telephone and utilities	6	230	193	421	12,570
Advertising and promotion	58		402	143	9,526
Travel				22	3,156
Feasibility study	72,857	25,000	116,157	41,733	233,027
Foreign exchange loss	944	(830)	8,457	2,748	14,191
Write-down of land deposits				3,210	11,610
Write down in website development costs					17,390
Write-off trademark cost					279
Write-off on discount of convertible notes			80,237		80,237
	133,745	92,876	344,249	173,429	2,074,072
OTHER ITEMS
Interest income	85		85		116
Debt forgiven					13,192
Gain on sale of assets	908,030		1,717,024		1,717,024
Others					(800)
	908,115		1,717,109		1,729,532
NET INCOME (LOSS) FOR THE PERIOD	774,370	(92,876)	1,372,860	(173,429)	(342,789)
Other comprehensive income (loss) for the period
Exchange difference on translation	(3,306)	17,480	(1,493)	14,323	(27,725)
COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD	$ 771,064	$ (75,396)	$ 1,371,367	$ (159,106)	$ (370,514)
Profit (loss) per share - Basic (in Dollars per share)	$ 0.04	$ 0.00	$ 0.06	$ (0.01)
Weighted average number of common shares outstanding - basic (in Shares)	22,050,432	27,079,086	24,559,473	27,004,496
Profit (loss) per share - Diluted (in Dollars per share)	$ 0.03	$ 0.00	$ 0.05	$ (0.01)
Weighted average number of common shares outstanding - diluted (in Shares)	22,875,748	27,079,086	25,384,789	27,004,496

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Note 6 - Earnings (Loss) per Share

3 Months Ended

Sep. 30, 2012

Earnings Per Share [Text Block]

Note 6 – Earnings (Loss) per Share

The calculation of basic earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $774,370 and $1,372,860 respectively, and a weighted average number of common shares outstanding of 22,050,432 and 24,559,473.

The calculation of diluted earnings per share for the three months and six months ended September 30, 2012 was based on the net income attributable to common shareholders of $774,370 and $1,372,860 respectively, and a diluted weighted average number of common shares outstanding of 22,875,748 and 25,384,789.

The calculation of basic loss per share for the three months and six months ended September 30, 2011 was based on the net loss attributable to common shareholders of $92,876 and $173,429 respectively, and a weighted average number of common shares outstanding of 27,079,086 and 27,004,496.

The calculation of diluted loss per share for the three months and six months ended September 30, 2011 was antidilutrive as the Company incurred a net loss attributable to common shareholders of $92,876 and $173,429 respectively.

(a) Basic earnings per share

Weighted average number of common shares for basic earnings (loss) per share calculations:

	Three months ended		Six months ended
	September 30,		September 30,
	2012	2011	2012	2011
Issued common share at April 1	27,096,086	26,729,086	27,096,086	26,729,086
Issued during the period	-	350,000	-	275,410
Cancelled during the period	(5,045,654)	-	(2,536,613)	-
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496

(b) Diluted earnings per share

Weighted average number of common shares for diluted earnings (loss) per share calculations:

	Three months ended		Six months ended
	September 30,		September 30,
	2012	2011	2012	2011
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496
Effect of share options on issue	691,900	-	691,900	-
Effect of share warrants on issue	133,417	-	133,417	-
Diluted Weighted average number of common shares at September 30	22,875,748	27,079,086	25,384,789	27,004,496

For the three months and six months ended September 30, 2011, 740,000 share options and 533,666 share warrants were excluded from the diluted weighted average number of common shares calculation as their effect would have been anti-dilutive.

The average market value of the Company’s shares for purposes of calculating the dilutive effect of share options and warrants was based on quoted market prices for the period during which the options were outstanding.

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Note 5 - New Accounting Pronouncements

15 Months Ended

Sep. 30, 2012

New Accounting Pronouncements, Policy [Policy Text Block]

Note 5 – New Accounting Pronouncements

(i) Disclosures About Offsetting Assets and Liabilities

In December, 2011, the FASB issued ASU 2011-11, “Disclosures about Offsetting Assets and Liabilities”, in an effort to improve comparability between US GAAP and IFRS financial statements with regard to the presentation of offsetting assets and liabilities on the statement of financial position arising from financial and derivative instruments, and repurchase agreements. The ASU establishes additional disclosures presenting the gross amounts of recognized assets and liabilities, offsetting amounts, and the net balance reflected in the statement of financial position. Descriptive information regarding the nature and rights of the offset must also be disclosed. This guidance is effective as of the beginning of a fiscal year that begins after January 1, 2013. The adoption of the new guidance is not expected to have an impact on the Company’s financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

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Note 17 - Related Party Transactions

3 Months Ended

Sep. 30, 2012

Related Party Transactions Disclosure [Text Block]

Note 17 - Related Party Transactions

During the three months and six months ended September 30, 2012, the Company paid $297 (2011: $413) and $297 (2011: $413) in director fees to the directors of the Company, respectively.

During the three months and six months ended September 30, 2012, $nil (2011 management fees: $23,941), $nil (2011 management fees: $38,409) of management fees were accrued. Effective April 1, 2012, the executive officer is remunerated by payroll.

As at September 30, 2012, included in accounts payable, $nil (March 31, 2012: $49,233) was owed to a director of the Company.

As at September 30, 2012, included in notes payable, $nil (March 31, 2012: $17,991) was accrued as interest payable for loan from a director of the Company.

See also Note 11 and Note 19(c).

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Note 13 - Promissory Note

3 Months Ended

Sep. 30, 2012

Promissory Note

Note 13 – Promissory Note

On August 10, 2012, the Company issued a promissory note for CAD$40,000 (the “Note”). The Note bore an annual interest rate of 12%, and was due on demand. The Note had a first priority interest in all the assets of the Company. On September 10, 2012, the promissory note was repaid in full with the interest payment of CAD$408.

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Note 9 - Intangible Assets

15 Months Ended

Sep. 30, 2012

Intangible Assets Disclosure [Text Block]

Note 9 - Intangible Assets

The Business Plan was acquired through the acquisition of Coronus Energy Corp. on November 2, 2009. The capital cost was amortized over 3 years.

Intangible assets at September 30, 2012 and March 31, 2012 were summarized as follows:

		Accumulated		Net book
September 30, 2012	Cost	amortization	Write-off	value
Business plan	21,500	20,902	-	598

		Accumulated		Net book
March 31, 2012	Cost	amortization	Write-off	value
Business plan	21,500	17,320	-	4,180

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Note 19 - Subsequent Events (Detail) (USD $)	0 Months Ended	1 Months Ended	3 Months Ended				6 Months Ended			15 Months Ended		130 Months Ended
	Oct. 11, 2012	Oct. 24, 2012 acre sqm	Sep. 30, 2012 acre sqm	Mar. 31, 2012	Sep. 30, 2011 acre	Mar. 31, 2011 acre	Sep. 30, 2012 acre sqm	Sep. 30, 2011 acre	Jun. 30, 2011 acre	Sep. 30, 2012 acre sqm	Jun. 30, 2011 acre	Sep. 30, 2012 acre sqm	Oct. 31, 2012 acre	Aug. 17, 2012 acre	Jun. 30, 2012 acre	Apr. 25, 2012 acre	Apr. 19, 2012 acre	Apr. 13, 2012 acre	Apr. 05, 2012 acre	May 16, 2011 acre	Mar. 17, 2011 acre	Mar. 31, 2010 acre
	$ 10,000		$ 72,857	$ 30,000	$ 25,000		$ 116,157	$ 41,733				$ 233,027
Area of Land (in Acres) (in Acres)		24.23	34.07		40	20	34.07	40	39.25	34.07	39.25	34.07	56.03	34.07	56.03	40	40	40	20	39.25	20	30
Purchase Price of Land		86,683														350,000
Escrow Deposit		1,000														1,000
Payments to Acquire Land Held-for-use		85,683				8,000			8,000	165,000	30,000
Business Acquisition, Purchase Price Allocation, Current Assets		$ 1,250,000

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Note 7 - Property, Plant and Equipment

3 Months Ended

Sep. 30, 2012

Property, Plant and Equipment Disclosure [Text Block]

Note 7 - Property, Plant and Equipment

Property, plant and equipment at September 30, 2012 and March 31, 2012 were summarized as follows:

				Accumulated		Net book
September 30, 2012		Cost		depreciation		value
Office equipment	$	1,396	$	1,256	$	140
Computer equipment		1,067		1,034		33
Land		934,744		-		934,744
	$	937,207	$	2,290	$	934,917

				Accumulated		Net book
March 31, 2012		Cost		depreciation		value
Office equipment	$	1,373	$	1,220	$	153
Computer equipment		1,051		1,014		37
Land		334,599		-		334,599
	$	337,023	$	2,234	$	334,789

Acquisition of Vacant Land

(i) Twentynine Palms East

On August 28, 2010, the Company’s wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a Vacant Land Purchase Agreement (“the “Twentynine Palms East Agreement”) to acquire a 30 acre parcel of vacant land, situated east of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $32,000. The transaction closed on January 24, 2011.

(ii) Newberry Springs

On January 24, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Newberry Springs Agreement”) to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on March 17, 2011.

(iii) Twentynine Palms North

On January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Twentynine Palms North Agreement”) to acquire a 39.25 acre parcel of vacant land, situated north of Twentynine Palms, in the County of San Bernardino, California. The purchase price was $40,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on May 16, 2011.

(iv) Joshua Tree East

On May 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Joshua Tree East Agreement”) to acquire a 56.03 acre parcel of vacant land, situated east of Joshua Tree, in the County of San Bernardino, California. The purchase price was $200,000. Coronus paid $30,000 and the vendor agreed to carry back the balance amount of $170,000 for three years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on June 30, 2011.

(v) Adelanto West Agreement

On September 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Adelanto West Agreement”) to acquire a 40 acre parcel of vacant land, situated in the City of Adelanto, County of San Bernardino, California. The purchase price was $400,000. Coronus paid $165,000 and the vendor agreed to carry back the balance amount of $235,000 for three years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on April 19, 2012.

(vi) Yucca Valley East Agreement

On October 9, 2011, Coronus entered into a Vacant Land Purchase Agreement (the “Yucca Valley East Agreement”) to acquire a 34.07 acre parcel of vacant land, situated east of Yucca Valley, in the County of San Bernardino, California. The purchase price was $170,000. Coronus paid $34,000 and the vendor agreed to carry back the balance amount of $136,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on August 17, 2012.

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Note 8 - Construction in Progress

15 Months Ended

Sep. 30, 2012

Constructionin Progress

Note 8 - Construction in Progress

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011. Under the amended agreement (the “Amended Solar Power Systems Agreement”), the parties agreed to negotiate, in good faith, the purchase price of solar power systems on a per solar power system basis. As additional purchase and sale consideration, Belectric kept 1,097,400 of the original payment shares. Accordingly, 9,876,600 of the original payment shares were cancelled, resulting to a reduction of construction in progress of $5,925,960 [see Note 18(a)].

As of September 30, 2012, the Company recorded Construction in Progress of $658,440.

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Note 10 - Sycamore Solar Photovoltaic Asset Sale Agreement

3 Months Ended

Sep. 30, 2012

Saleof Asset

Note 10 - Sycamore Solar Photovoltaic Asset Sale Agreement

On April 5, 2012, Coronus, the Company’s wholly-owned subsidiary, entered into a Solar Photovoltaic Asset Sale Agreement (the “Sycamore Solar PV Asset Sale Agreement”) with Sycamore Physicians Partners LLC (“Sycamore”). Under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to sell, assign and transfer to Sycamore, Coronus’ sole membership in Coronus Hesperia West 1 LLC. On March 19, 2012, Coronus Hesperia West 1 LLC entered into a Power Purchase Agreement (“PPA”) with Southern California Edison (“SCE”). The PPA relates to Coronus’ application for interconnection service and the CREST tariff for a 1.2 MW solar PV power system (the “Coronus Hesperia West 1 Project”) on the 20 acre parcel of vacant land, situated west of Hesperia, in the County of San Bernardino, California, Coronus agreed to acquire pursuant to the Hesperia West Agreement [see Note 18(c)(i)].  Additionally, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to assign to Sycamore, the Hesperia West Agreement. Further, under the Sycamore Solar PV Asset Sale Agreement, Coronus agreed to use its best efforts to obtain a second PPA from SCE in relation to the Hesperia West 20 acre parcel, and to sell this PPA (relating to a 1.5 MW solar PV system) to Sycamore if obtained.

Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $1,726,219 (the “Basic Price”) to Coronus for the sole ownership in Coronus Hesperia West 1 LLC, the assignment of the Hesperia West Agreement, and the second PPA. On executing the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay $817,200 to Coronus, and Coronus agreed to transfer the sole membership in Coronus Hesperia West 1 LLC to Sycamore and to assign the Hesperia West Agreement to Sycamore. Under the Sycamore Solar PV Asset Sale Agreement, Sycamore agreed to pay the balance of the Basic Price, or $909,019, to Coronus on delivery of the second PPA. On April 11, 2012, Sycamore paid the $817,200 to Coronus, and on April 12, 2012, Coronus transferred the sole ownership in Coronus Hesperia West 1 LLC to Sycamore and assigned the Hesperia West Agreement to Sycamore.

On August 30, 2012, Coronus’ wholly-owned subsidiary, Coronus Hesperia West 2 LLC, entered into a PPA with SCE. Having obtained the second PPA on the Hesperia West land parcel, on September 6, 2012, Sycamore paid the balance of the Basic Price, of $909,019 to Coronus, and Coronus transferred the sole membership in Coronus West 2 LLC to Sycamore, thus concluding the Sycamore Solar PV Asset Sale Agreement.

The Company recorded a gain on the sale of the Coronus Hesperia West 1 and 2 Projects of $1,717,024 as of September 30, 2012.

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Note 2 - Basis of Presentation - Going Concern Uncertainties (Detail) - Working Capital (Deficit) (USD $)	Sep. 30, 2012	Mar. 31, 2012	Mar. 31, 2011
Working capital (deficiency)	$ 723,557	$ (390,180)
Deficit	$ (342,789)	$ 1,715,649	$ (1,715,649)

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Note 15 - Stockholders' Equity (Detail)	0 Months Ended		3 Months Ended			6 Months Ended		12 Months Ended									118 Months Ended	130 Months Ended											3 Months Ended
	Mar. 31, 2011 USD ($)	Nov. 02, 2009	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)	Mar. 31, 2012 CAD	Mar. 31, 2011 CAD	Mar. 31, 2010 USD ($)	Mar. 31, 2008 USD ($)	Mar. 31, 2007 USD ($)	Mar. 31, 2006 USD ($)	Mar. 31, 2005 USD ($)	Mar. 31, 2004 USD ($)	Mar. 31, 2003 USD ($)	Sep. 30, 2011 USD ($)	Sep. 30, 2012 USD ($)	Feb. 02, 2017 CAD	Feb. 02, 2013 CAD	Sep. 30, 2012 CAD	Mar. 31, 2012 USD ($)	Feb. 29, 2012 USD ($)	Feb. 23, 2012	Feb. 02, 2012	Oct. 31, 2011 USD ($)	May 31, 2011 USD ($)	Dec. 31, 2001 USD ($)	Dec. 31, 2001 Shares Issued USD ($)	Dec. 31, 2001 Price Paid per Share USD ($)
Stock Issued During Period, Shares, Issued for Cash (in Shares)									212,500			1,000,000		1,910,000	500,006	500,004													6,750,000
Sale of Stock, Price Per Share (in Dollars per share and Dollars per share)	$ 1.05				$ 1.05				0.402	$ 0.025	$ 0.0485	$ 0.044	$ 0.042		$ 0.0835	$ 0.0725					0.60									$ 0.0002
Issuance of Stock and Warrants for Services or Claims											$ 2,548		$ 16,586		$ 1,851	$ 1,615	$ 26,301												$ 75,000
Stock Issued During Period, Shares, Other (in Shares)																													6,750,000
Additional Paid in Capital, Common Stock								100,000								12,916												352,337
Issued During Period, Unit, Issued for Cash (in Shares)						350,000		350,000						1,200,000		235,294
Sale of Unit, Price per Unit								0.60						0.039		0.055
Capital Paid								210,000	85,000		2,548	43,948	12,578	47,054	41,644	36,326					210,000
Stock Issued During Period, Shares, Conversion of Warrants													0.042			235,294
Exercise Price of Warrant								0.75						0.039		0.055			0.75		0.75
Stock Issued During Period, Shares, Acquisitions (in Shares)		4,025,000			1,097,400	9,876,600				2,000,000
Fees and Commissions, Other (in Dollars)									7,500
Professional Fees (in Dollars)			19,214	18,136		49,468	40,865		6,807									398,867
Property, Plant and Equipment, Additions	76,818,000		1,097,400														(1,871)
Shareholders Equity and Construction in Progress					6,584,400
Warrants Not Settleable in Cash, Fair Value Disclosure																						93,652	56,966			4,501	90,628
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)			$ 0.60			$ 0.60												$ 0.60
Restricted Shares Outstanding			10,226,900			10,226,900												10,226,900
Promissory Note Issued During Period (in Dollars)								50,000
Warrants Issued During Period, Warrants (in Shares)																						83,333		83,333	83,333
Convertible Price Per Share (in Dollars)																				0.60
Warrants and Rights Outstanding	$ 350,000		$ 533,666		$ 350,000	$ 533,666												$ 533,666				$ 350,000

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Note 15 - Stockholders' Equity

3 Months Ended

Sep. 30, 2012

Stockholders' Equity Note Disclosure [Text Block]

Note 15 - Stockholders’ Equity

(a) Common Stock

On December 5, 2001, the Company (i) issued 6,750,000 common shares for cash to the founder and sole director of the Company at $0.0002 per share; (ii) issued 75,000 common shares for service to a party related to the founder of the Company at $0.0525 per share; and (iii) issued 300,000 common shares for cash to the sole director of the Company pursuant to a private placement at $0.0525 per share. The Company recorded the 6,750,000 shares issued to the founder at fair value at $0.0525 per share and recorded a stock based compensation of $352,337.

For the fiscal year ended March 31, 2003, the Company issued (i) 235,294 units for cash at $0.055 per unit for total proceeds of $12,916; (ii) issued 500,004 common shares for cash at $0.0725 per share for total proceeds of $36,326; (iii) issued 235,294 common shares upon the exercise of warrants for cash at

$0.055 per share for total proceeds of $12,916; and (iv) issued 22,222 common shares for the settlement of debt at $0.0725 per share for the total debt of $1,615. In connection with the above unit issuance, each unit consisted of one common share and one share purchase warrant with an exercise price at $0.055 per share. The Company adopted the residual approach and allocated the total proceeds to the common shares and $nil to the share purchase warrants.

For the fiscal year ended March 31, 2004, the Company (i) issued 500,006 common shares for cash at $0.0835 per share for total proceeds of $41,644; and (ii) issued 66,666 common shares for the settlement of the debt at $0.0835 for the total debt of $5,552.

For the fiscal year ended March 31, 2005, the Company (i) issued 1,200,000 units for cash at $0.039 per unit for total proceeds of $47,054; and (ii) issued 1,910,000 common shares for cash at $0.039 per share for total proceeds of $74,895. Each unit consisted of one common share and one share purchase warrant with an exercise price at $0.039 per share. The Company adopted the residual approach and allocated the total proceeds to the common stocks and $nil to the share purchase warrants.

For the fiscal year ended March 31, 2006, the Company (i) issued 300,000 common shares at $0.042 per share pursuant to the exercise of warrants for total proceeds of $12,578; and (ii) issued 395,600 common shares at $0.042 per share for the settlement of debt of $16,586.

For the fiscal year ended March 31, 2007, the Company issued 1,000,000 common shares for cash at $0.044 per share for total proceeds of $43,948.

For the fiscal year ended March 31, 2008, the Company issued 52,500 common shares at $0.0485 per share for the settlement of debt of $2,548.

On November 2, 2009, the Company issued 2,000,000 common shares in connection with the acquisition of all the issued and outstanding shares of Coronus at a deemed value of $0.025 per share.  These shares were recorded, proportionately with the shares transferred by Mr. Jeff Thachuk to Mr. Mark Burgert, based on the fair value of the assets acquired.

On January 21, 2011, the Company completed a non-brokered private placement, issuing 212,500 shares of common stock to eleven investors, at a price of CAD$0.402 per share, for gross proceeds of CAD$85,000. In connection with the completion of the private placement, the Company paid CAD$7,500 in finder’s fees in cash, to certain arm’s length parties, and CAD$6,807 in legal, accounting, transfer agent and filing fees.

On March 31, 2011, the Company and its wholly-owned subsidiary, Coronus Energy Corp. (“Coronus”), entered into a purchase agreement for utility-scale, ground-mount, solar photovoltaic (“PV”) power systems (the “Solar Power Systems Agreement”) with Belectric, Inc. (“Belectric”). Under the Solar Power Systems Agreement, Coronus agreed to acquire a total of 21 MW_ac of utility-scale, ground-mount, solar PV power systems from Belectric, for total consideration of $76,818,000, exclusive of taxes (the “Basic Price”). On entering into the Solar Power Systems Agreement, the Company paid 15% of the Basic Price, or $11,522,700, by way of issuing 10,974,000 shares of its common stock to Belectric, at a  deemed value of $1.05 per share. The fair value per share at the date of issuance was $0.60. As a result, $6,584,400 was recorded under shareholders’ equity and construction in progress.

On May 10, 2011, the Company completed a non-brokered private placement of 350,000 units at a price of CAD $0.60 per unit for proceeds of CAD $210,000. Each unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$90,000 ($93,652). See Note 15(c).

On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The value assigned to the underlying warrants was CAD$4,470 ($4,452). See Note 15(c).

On August 15, 2012, the Company amended the purchase agreement for utility-scale, ground-mount, solar photovoltaic (PV) power systems (the “Solar Power Systems Agreement”), the Company entered into with Coronus and Belectric Inc. (“Belectric”), on March 31, 2011 [see Note 18(a)]. Under the amended agreement (the “Amended Solar Power Systems Agreement”), 9,876,600 of the Original Payment Shares were cancelled on August 15, 2012, at the deemed price of $1.05 per share. The fair value per share at the date of cancellation was $0.60.

As at September 30, 2012, 10,226,900 (March 31, 2012: 20,103,500) shares of the Company’s common stock were restricted shares.

(b) Stock Options

Since inception, the Company has entered into various stock option agreements with its directors, employees and consultants.

During the period ended September 30, 2012 and year ended March 31, 2012, there were no options granted or exercised.

Changes in stock options for the period ended September 31, 2012 and year ended March 31, 2012 are summarized as follows:

	Options Outstanding
	Number of		Weighted average
	shares		exercise price
Balance, March 31, 2012 and 2011	745,000	$	0.065
Expired	(5,000)		0.105
Balance, September 30, 2012	740,000	$	0.065

The Company has the following options outstanding and exercisable at September 30, 2012:

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	September 30,	Contractual		Exercise	September 30,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$                0.065	740,000	3.15	$	0.065	740,000	$	0.065

The Company has the following options outstanding and exercisable at March 31, 2012:

	Outstanding				Exercisable
		Weighted
	Number	Average		Weighted	Number		Weighted
Range of	Outstanding at	Remaining		Average	Exercisable at		Average
Exercise	March 31,	Contractual		Exercise	March 31,		Exercise
Prices	2012	Life (Years)		Price	2012		Price
$              0.065	740,000	3.65	$	0.065	740,000	$	0.065
0.105	5,000	0.11		0.105	5,000		0.105
$0.065 - $0.105	745,000	3.63	$	0.065	745,000	$	0.065

(c) Warrants

On May 10, 2011, the Company completed a non-brokered private placement, issuing 350,000 units (the “Units”), at a price of CAD$0.60 per Unit, for proceeds of CAD$210,000. Each Unit was comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.257 per warrant using the Black-Scholes option pricing model.

On October 24, 2011, the Company completed a non-brokered private placement of 17,000 units at a price of CAD$0.60 per unit for gross proceeds of CAD$10,200. Each unit is comprised of one common share in the capital of the Company and one non-transferrable share purchase warrant. Each warrant entitles the holder thereof to purchase a further common share at an exercise price of CAD $0.75 for a period of five years. The Company determined the fair value of the warrants to be $0.263 per warrant using the Black-Scholes option pricing model.

On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years. The Company determined the fair value of the warrants to be CAD$0.7816 per warrant using the Black-Scholes option pricing model.

The fair value of the warrants issued during the year ended March 31, 2012 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

	Year ended
	March 31, 2012
Expected volatility		100.13% - 105.17	%
Risk free interest rate		1.10% - 1.91	%
Expected life	5 years
Dividend yield		0.00	%

The relative estimated fair value of the warrants in relation to the private placements in May 2011, October 2011, and February 2012 were CAD$90,000 (USD$90,628), CAD$4,470 (USD$4,501), and CAD$56,571 (USD$56,966), respectively, and were allocated to the additional paid-in capital.

As of September 30, 2012, 533,666 warrants remained outstanding.

The Company has the following warrants outstanding at September 30, 2012:

							Exercise		Average
Balance	Issued	Exercised	Cancelled	Balance	Exercise		price		Remaining
as at	during the	during the	during the	as at	price		(USD		Contractual
3/31/2012	period	period	period	9/30/2012	(CAD)		equivalent)		Life in Years
350,000	-	-	-	350,000	$	0.75	$	0.74	3.61
17,000	-	-	-	17,000	$	0.75	$	0.74	4.07
166,666	-	-	-	166,666	$	0.75	$	0.74	4.35
533,666	-	-	-	533,666	$	0.75	$	0.74	3.85

The Company has the following warrants outstanding at March 31, 2012:

							Exercise		Average
Balance	Issued	Exercised	Cancelled	Balance	Exercise		price		Remaining
as at	during the	during the	during the	as at	price		(USD		Contractual
3/31/2011	period	period	period	3/31/2012	(CAD)		equivalent)		Life in Years
-	350,000	-	-	350,000	$	0.75	$	0.74	4.11
-	17,000	-	-	17,000	$	0.75	$	0.74	4.57
-	166,666	-	-	166,666	$	0.75	$	0.74	4.88
-	533,666	-	-	533,666	$	0.75	$	0.74	4.37

The warrants are not a derivative instrument.

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Note 2 - Basis of Presentation - Going Concern Uncertainties (Tables)

15 Months Ended

Sep. 30, 2012

Schedule of Other Assets and Other Liabilities [Table Text Block]

		September 30,		March 31,
		2012		2012
Working capital (deficiency)	$	723,557	$	(390,180)
Deficit		342,789		1,715,649

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Note 14 - Convertible Promissory Notes (Detail)	1 Months Ended				2 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended	13 Months Ended	130 Months Ended
	Sep. 12, 2012	Apr. 19, 2012 USD ($)	Apr. 19, 2012 CAD	Feb. 23, 2012 CAD	Apr. 20, 2012 CAD	Mar. 31, 2012 USD ($)	Mar. 31, 2012 CAD	Apr. 20, 2012 CAD	Sep. 30, 2011 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)	Mar. 31, 2012	Feb. 23, 2013 CAD	Sep. 30, 2012 USD ($)	Feb. 23, 2012 USD ($)	Feb. 02, 2012 CAD	Mar. 31, 2011 USD ($)
Convertible Notes Payable, Current															$ 50,000	50,000	$ 15,198
Warrants Issued During Period, Warrants (in Shares)						83,333	83,333					83,333			83,333	83,333
Total Convertible Notes Payable February 2012				100,000
Debt Instrument, Interest Rate During Period	12.00%											4.00%	12.00%
Debt Instrument, Convertible, Conversion Price (in Dollars per share)				0.75									0.60
Allocated Amount for the Value of the Embedded Convertible Beneficial Conversion Feature				43,429
Allocated Amount for the Value of the Warrants				56,571
Amortization of Debt Discount (Premium)		5,302	5,356			15,184	15,198
Repayments of Notes Payable								50,000
Debt Instrument, Convertible, Interest Expense					937			1,282
Repayments of Convertible Debt					50,000
Financing Interest Expense			80,237						$ 2,169	$ 430	$ 4,551			$ 28,303

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Note 8 - Construction in Progress (Detail) (USD $)	0 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 02, 2009	Mar. 31, 2011	Sep. 30, 2012	Mar. 31, 2010	Aug. 15, 2012
Stock Issued During Period, Shares, Acquisitions (in Shares)	4,025,000	1,097,400	9,876,600	2,000,000
Stock Cancelled During PeriodShares (in Shares)					9,876,600
Construction in Progress, Gross (in Dollars)		$ 6,584,400	$ 658,440		$ 5,925,960

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Consolidated Statements of Stockholders' Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit during Development Stage [Member]	Total
at Mar. 31, 2008		$ 164,740	$ (7,526)	$ (846,780)	$ (7,567)
at Mar. 31, 2008				(172,863)	(172,863)
Stock issued for cash at $0.0002 per share
Forgiveness of debt by a director and shareholder		31,932			31,932
Stock issued for debt at $0.0725 per share
Imputed interest from shareholder loan		2,228			2,228
Exercise of warrants at $0.055 per share
		55,180			55,180
Comprehensive income (loss):
Currency translation adjustment			10,232		10,232
at Mar. 31, 2009	681,999	254,080	2,706	(1,019,643)	(80,858)
at Mar. 31, 2009				(172,863)	(172,863)
(in Shares) at Mar. 31, 2009	13,542,586
Stock issued for cash at $0.0002 per share
Forgiveness of debt by a director and shareholder		33,015			33,015
Stock issued for debt at $0.0725 per share
Imputed interest from shareholder loan		4,997			4,997
Exercise of warrants at $0.055 per share
		26,144			26,144
Comprehensive income (loss):
Currency translation adjustment			(25,943)		(25,943)
Stock issued for acquisition of Coronus Energy Corp.
on November 2, 2009	10,752	10,886			21,638
on November 2, 2009 (in Shares)	2,000,000				2,000,000
at Mar. 31, 2010	692,751	329,122	(23,237)	(1,174,823)	(176,187)
at Mar. 31, 2010				(155,180)	(155,180)
(in Shares) at Mar. 31, 2010	15,542,586
Stock issued for cash at $0.0002 per share
	70,693				70,693
(in Shares)	212,500				212,500
Stock issued for construction of solar power plants on March 31, 2011	6,584,400				6,584,400
Stock issued for construction of solar power plants on March 31, 2011	10,974,000
Forgiveness of debt by a director and shareholder		35,420			35,420
Comprehensive income (loss):
Currency translation adjustment			(11,701)		(11,701)
at Mar. 31, 2011	7,347,844	364,542	(34,938)	(1,344,851)	6,331,105
at Mar. 31, 2011				(170,028)	(170,028)
(in Shares) at Mar. 31, 2011	26,729,086				27,096,086
Stock issued for cash at $0.0002 per share
	120,838	90,628			211,466
(in Shares)	350,000
Forgiveness of debt by a director and shareholder		38,165			38,165
Warrants and conversion beneficiary features		100,698			100,698
Comprehensive income (loss):
Currency translation adjustment			8,706		8,706
at Mar. 31, 2012	7,474,452	598,534	(26,232)	(1,715,649)	6,331,105
at Mar. 31, 2012				(370,798)	(370,798)
(in Shares) at Mar. 31, 2012	27,096,086
at Dec. 04, 2001				(376,277)	(376,277)
Stock issued for service at $0.0525 per share
on December 5, 2001	3,931				3,931
on December 5, 2001 (in Shares)	75,000
Stock issued for cash at $0.0002 per share
	353,767				353,767
(in Shares)	6,750,000
Exercise of warrants at $0.055 per share
		6,026			6,026
Comprehensive income (loss):
Currency translation adjustment			(9)		(9)
at Mar. 31, 2002	373,420	6,026	(9)	(376,277)	3,160
at Mar. 31, 2002				(376,277)	(376,277)
(in Shares) at Mar. 31, 2002	7,125,000
Stock issued for cash at $0.0002 per share
	2,008				2,008
(in Shares)	27,644
at Mar. 13, 2003
at Mar. 31, 2002	373,420	6,026	(9)	(376,277)	3,160
at Mar. 31, 2002				(67,360)	(67,360)
(in Shares) at Mar. 31, 2002	7,125,000
Stock issued for cash at $0.0002 per share
	12,916				12,916
(in Shares)	235,294				500,004
Stock issued for debt at $0.0725 per share
	1,615				1,615
(in Shares)	22,222
Imputed interest from shareholder loan		340			340
Exercise of warrants at $0.055 per share
	12,916				12,916
(in Shares)	235,294
		1,957			1,957
Comprehensive income (loss):
Currency translation adjustment			197		197
at Mar. 31, 2003	437,194	8,323	188	(443,637)	2,068
at Mar. 31, 2003				(67,360)	(67,360)
(in Shares) at Mar. 31, 2003	8,117,814
Stock issued for cash at $0.0002 per share
	7,403				7,403
(in Shares)	88,890				500,006
Stock issued for debt at $0.0725 per share
	1,851				1,851
(in Shares)	22,222
Comprehensive income (loss):
Currency translation adjustment			(265)		(265)
at Mar. 31, 2004	484,390	8,323	(77)	(506,693)	(14,057)
at Mar. 31, 2004				(63,056)	(63,056)
(in Shares) at Mar. 31, 2004	8,684,486
Stock issued for cash at $0.0002 per share
	47,054				47,054
(in Shares)	1,200,000				1,910,000
Forgiveness of debt by a director and shareholder		3,921			3,921
Comprehensive income (loss):
Currency translation adjustment			(12,847)		(12,847)
at Mar. 31, 2005	606,339	12,244	(12,924)	(572,145)	33,514
at Mar. 31, 2005				(65,452)	(65,452)
(in Shares) at Mar. 31, 2005	11,794,486
Stock issued for cash at $0.0002 per share
Forgiveness of debt by a director and shareholder		34,798			34,798
Stock issued for debt at $0.0725 per share
	16,586				16,586
(in Shares)	395,600
Imputed interest from shareholder loan		350			350
Exercise of warrants at $0.055 per share
	8,385				8,385
(in Shares)	200,000
		31,972			31,972
Comprehensive income (loss):
Currency translation adjustment			1,059		1,059
at Mar. 31, 2006	635,502	79,364	(11,865)	(684,918)	18,083
at Mar. 31, 2006				(112,773)	(112,773)
(in Shares) at Mar. 31, 2006	12,490,086
Stock issued for cash at $0.0002 per share
	26,369				26,369
(in Shares)	600,000				1,000,000
Forgiveness of debt by a director and shareholder		31,643			31,643
Stock issued for debt at $0.0725 per share
Imputed interest from shareholder loan		939			939
Exercise of warrants at $0.055 per share
		7,932			7,932
Comprehensive income (loss):
Currency translation adjustment			(108)		(108)
at Mar. 31, 2007	679,450	119,877	(11,973)	(750,348)	37,006
at Mar. 31, 2007				(65,430)	(65,430)
(in Shares) at Mar. 31, 2007	13,490,086
Stock issued for cash at $0.0002 per share
Forgiveness of debt by a director and shareholder		34,950			34,950
Stock issued for debt at $0.0725 per share
	2,548				2,548
(in Shares)	52,500
Imputed interest from shareholder loan		1,126			1,126
Exercise of warrants at $0.055 per share
		8,787			8,787
Comprehensive income (loss):
Currency translation adjustment			4,447		4,447
at Mar. 31, 2008	681,999	164,740	(7,526)	(846,780)	(7,567)
at Mar. 31, 2008				(96,432)	(96,432)
(in Shares) at Mar. 31, 2008	13,542,586
at Mar. 31, 2012	7,474,452		(26,232)	(1,715,649)	6,331,105
at Mar. 31, 2012				1,372,860	1,371,367
(in Shares) at Mar. 31, 2012	27,096,086
Comprehensive income (loss):
Currency translation adjustment			(1,493)		(1,493)
Stock cancelled for amendment of agreement on
August 15, 2012	(5,925,960)				(5,925,960)
August 15, 2012 (in Shares)	(9,876,600)
Stock issued for acquisition of Coronus Energy Corp.
on November 2, 2009 (in Shares)					9,876,600
at Sep. 30, 2012	1,548,492	598,534	(27,725)	(342,789)	1,776,512
at Sep. 30, 2012				$ 1,372,860	$ 1,371,367
(in Shares) at Sep. 30, 2012	17,219,486				17,219,486

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Note 4 - Accounting Pronouncements Adopted During the Period

15 Months Ended

Sep. 30, 2012

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note 4 – Accounting Pronouncements Adopted During the Period

(i) Presentation of Comprehensive Income

On April 1, 2012, the Company adopted the FASB issued ASU 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”. ASU 2011-05 provides guidance on the presentation of comprehensive income. This guidance eliminates the current option to report other comprehensive income and its components in the statement of changes in equity. The guidance allows two presentation alternatives: (1) present items of net income and other comprehensive income in one continuous statement, referred to as the statement of comprehensive income; or (2) in two separate, but consecutive, statements of net income and other comprehensive income. The Company has chosen alternative 1 for the presentation of comprehensive income.

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Note 17 - Related Party Transactions (Detail)	3 Months Ended	6 Months Ended	12 Months Ended		18 Months Ended	130 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Mar. 31, 2011 USD ($)	Sep. 30, 2012 CAD	Sep. 30, 2012 USD ($)
Noninterest Expense Directors Fees	$ 297	$ 297	$ 413
Professional and Contract Services Expense	23,941		38,409	20,000	48,000	20,928
Accounts Payable			49,233
Notes Payable			$ 17,991

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Note 6 - Earnings (Loss) per Share (Tables)

15 Months Ended

Sep. 30, 2012

Schedule of Weighted Average Number of Shares [Table Text Block]

At Three Months Ended, June 30

	Three months ended		Six months ended
	September 30,		September 30,
	2012	2011	2012	2011
Issued common share at April 1	27,096,086	26,729,086	27,096,086	26,729,086
Issued during the period	-	350,000	-	275,410
Cancelled during the period	(5,045,654)	-	(2,536,613)	-
Weighted average number of common shares at September 30	22,050,432	27,079,086	24,559,473	27,004,496

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Note 7 - Property, Plant and Equipment (Detail)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended		15 Months Ended		18 Months Ended	118 Months Ended
	Oct. 24, 2012 USD ($) acre sqm	Jun. 30, 2011 USD ($) acre	Mar. 31, 2011 USD ($) acre	Sep. 30, 2012 USD ($) acre sqm	Jun. 30, 2011 USD ($) acre	Sep. 30, 2012 USD ($) acre sqm	Mar. 31, 2011 USD ($) acre	Sep. 30, 2012 USD ($) acre sqm	Jun. 30, 2011 USD ($) acre	Sep. 30, 2011 USD ($) acre	Sep. 30, 2011 USD ($) acre	Apr. 19, 2015	Oct. 31, 2012 acre	Aug. 17, 2012 USD ($) acre	Aug. 10, 2012 CAD	Jun. 30, 2012 acre	Apr. 25, 2012 USD ($) acre	Apr. 19, 2012 acre	Apr. 13, 2012 acre	Apr. 05, 2012 acre	Mar. 31, 2012 USD ($)	May 16, 2011 USD ($) acre	Apr. 19, 2011 USD ($)	Mar. 17, 2011 USD ($) acre	Mar. 31, 2010 acre
Area of Land (in Square Meters and Acres)	24.23	39.25	20	34.07	39.25	34.07	20	34.07	39.25	40	40		56.03	34.07		56.03	40	40	40	20		39.25		20	30
		$ 200,000	$ 45,000	$ 229,354	$ 40,000	$ 170,000	$ 32,000	$ 400,000		$ 38,220	$ 361,944
Payments to Acquire Land Held-for-use	85,683		8,000		8,000			165,000	30,000
Debt Instrument, Face Amount		32,000	37,000	235,000	32,000	235,000	37,000	235,000	32,000					136,000	40,000		349,000				100,090	32,000	235,000	37,000
Debt Instrument, Interest Rate, Effective Percentage		6.50%	6.50%	6.50%	6.50%	6.50%	6.50%	6.50%	6.50%			6.50%		6.50%								6.50%		6.50%
Payments to Acquire Land						$ 34,000

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Note 14 - Convertible Promissory Notes

3 Months Ended

Sep. 30, 2012

Convertible Promssory Notes

Note 14 – Convertible Promissory Notes

On February 2, 2012, the Company issued a convertible promissory note for CAD$50,000 and 83,333 transferrable warrants for gross proceeds of CAD$50,000. On February 23, 2012, the Company issued a second convertible promissory note for CAD$50,000 and a further 83,333 transferrable warrants for gross proceeds of CAD$50,000. These convertible promissory notes, totalling CAD$100,000, matured on February 2, 2013, and bore an annual interest rate of 12%. The notes had a first priority interest in all the assets of the Company. The holders of the notes could convert the note and accrued interest, at or before the maturity date, into common shares of the Company at CAD$0.60 each. Each warrant entitles the holder thereof to purchase a further common share of the Company at an exercise price of CAD$0.75 for a period of five years.

According to ASC 470, the proceeds received in a financing transaction should first be allocated to the convertible promissory notes and the detached warrants on a relative fair value basis. The allocated value of the detached warrants is recorded in paid-in-capital. ASC 470 should then be applied to the amount allocated to the convertible promissory note, and an effective conversion price should be calculated and used to measure the intrinsic value, if any, of the embedded conversion option. The intrinsic value of the conversion option is recognized as a reduction to the carrying amount of the convertible debt and an addition to the paid-in-capital.

The Company determined that the amounts allocated to the convertible promissory notes, the embedded conversion beneficiary features option, and warrants are CAD$nil, CAD$43,429, and CAD$56,571, respectively.

The discount on issuance of the convertible promissory notes, CAD$100,000, is being amortized over the life of the notes. During the year ended March 31, 2012, an amount of CAD$15,184 (USD$15,198) was amortized.

	US$	CAD$
Face value	100,090	100,000
Effective interest (137%)	(84,892)	(84,816)
	15,198	15,184

On April 20, 2012, the Company repaid, in full, the CAD$50,000 in principal and CAD$1,282 in interest owing against the first note, and the CAD$50,000 in principal and CAD$937 in interest owing against the second note. An amount of CAD$5,356 (USD$5,302) was amortized for the period from April 1 to April 19, 2012. The balance of the discount on issuance of the convertible promissory notes, $80,237, was written off as expenses.