OPNT Opiant Pharmaceuticals Inc

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q/A
First Amended

(Mark One)

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

For the quarterly period ended __________October 31, 2009____________

or

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

For the transition period from ______________ to ________________________

Commission file number ___333-139915________________

 Nevada N/A
--------------------------------------------------------------------------------
(State or other jurisdiction of incorporation (IRS Employer
 or organization) Identification No.)

 54 Baker Street., 6th Floor W1U 7BU
--------------------------------------------------------------------------------
 (Address of principal executive offices) (Zip Code)

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

Yes [ X ] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [ ] No [X]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

APPLICABLE ONLY TO CORPORATE ISSUERS

The were 157,658,333 shares of Common Stock outstanding as of October 31, 2009:

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

Lightlake Therapeutics, Inc.
(Formerly Known as Madrona Ventures, Inc.)

(a Development
Stage Enterprise)
Financial Statements
For the Three Months Ended
October 31, 2009
and
For the Year Ended
July 31, 2009

 Page
 Number
 ------

Report of Independent Registered Public Accounting Firm 1

Financial Statements:

 Balance Sheet as of October 31, 2009 and July 31, 2009 2

 Statements of Operations for the three months ended
 October 31, 2009 and year ended July 31, 2009 and for the
 period from Re-entering Development Stage to October 31, 2009 3

 Statement of Changes in Shareholders' Deficit
 for the three months ended October 31, 2009 and year
 ended July 31, 2009 and the period from
 Re-entering Development Stage to October 31, 2009 4

 Statement of Cash Flows for the for the three months ended
 October 31, 2009 and year ended July 31, 2009 and for the
 period from Re-entering Development Stage to October 31, 2009 5

 Notes to Financial Statements 6

Lightlake Therapeutics, Inc.
( Formerly Known as Madrona Ventures, Inc.)
(a Development Stage Enterprise)
Balance Sheet
October 31, 2009 and July 31, 2009
--------------------------------------------------------------------------------------------

 October 31, July 31,
 Assets 2009 2009
 ----------- ----------
Current assets
 Cash and cash equivalents $ 724 $ 290
 Other current assets - -
 ----------- ----------
 Total current assets 724 290

Other assets
 Patent and Patent Applications 20,333 -
 ----------- ----------

 Total assets $ 21,057 $ 290
 =========== ==========

 Liabilities and Shareholders' Deficit
Liabilities
 Accounts payable and accrued liabilities $ 1,100 $ -
 Due to related party 75,248 -
 ----------- ----------
 Total liabilities 76,348 -


Stockholders' equity (deficit)
 Common stock; par value $0.001; 200,000,000 shares authorized;
 157,658,333 shares issued and outstanding at October 31, 2009 and
 6,525,000 shares issued and outstanding at October 31, 2008 157,658 6,525
 Additional paid-in capital (81,525) 48,975
 Accumulated deficit during the development stage (131,424) (55,210)
 ----------- ----------
 Total stockholders' deficit (55,291) 290
 ----------- ----------
 Total liabilities and stockholders' equity $ 21,057 $ 290
 =========== ==========

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

Lightlake Therapeutics, Inc.
(Formerly Known as Madrona Ventures, Inc.)
(a Development Stage Enterprise)
Statements of Operations
For the Three Months Ended October 31, 2009 and 2008 and the Period From
 Inception (June 21, 2005) to October 31, 2009
----------------------------------------------------------------------------------------------------

 From Inception
 (June 21, 2005)
 Three Months Ended - October 31, to October 31,
 2009 2008 2009
 --------------- -------------- ----------------

Revenues $ - $ - $ -

Operating expenses
 General and administrative 76,214 5,372 135,572
 Mineral interests - - 39,015
 --------------- -------------- ----------------
 Total operating expenses 76,214 5,372 174,587
 --------------- -------------- ----------------

Income (loss) from operations (76,214) (5,372) (174,587)

Other income (expense)
 Debt forgiveness - - 43,163
 --------------- -------------- ----------------
 Total other income (expense) - - 43,163

Income (loss) before provision for income taxes (76,214) (5,372) (131,424)

Provision for income taxes - - -
 --------------- -------------- ----------------

Net income (loss) $ (76,214) $ (5,372) $ (131,424)
 =============== ============== ================

Basic and fully diluted loss per common share:
 Earnings (loss) per common share $ (0.00) $ (0.00)
 =============== ==============
Basic and fully diluted weighted average
 common shares outstanding 94,449,311 6,525,000
 =============== ==============

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

Lightlake Therapeutics, Inc.
( Formerly Known as Madrona Ventures, Inc.)
(a Development Stage Enterprise)
Statement of Changes in Stockholders' Equity (Deficit)
For the Three Months Ended October 31, 2009 and Year Ended July 31, 2009 and
the Period from Inception (June 21, 2005) to October 31, 2009
--------------------------------------------------------------------------------------------------------------

 Deficit
 Additional During the
 Common Stock Paid In Development
 Shares Amount Capital Stage Total
 ------------ ------------- ------------- -------------- ------------

Balance at June 21, 2005 - $ - $ - $ - $ -
 ------------ ------------- ------------- -------------- ------------

Balance at July 31, 2005 - - - - -
 ------------ ------------- ------------- -------------- ------------

Common shares issued for cash
 March 2006 at $0.001 per share 5,000,000 5,000 - 5,000
 March 2006 at $0.01 per share 1,300,000 1,300 11,700 13,000
 April 2006 at $0.01 per share 75,000 75 7,425 7,500
 May 2006 at $0.01 per share 150,000 150 29,850 30,000

Net income (loss) (32,125) (32,125)
 ------------ ------------- ------------- -------------- ------------

Balance at July 31, 2006 6,525,000 6,525 48,975 (32,125) 23,375

Net income (loss) (33,605) (33,605)
 ------------ ------------- ------------- -------------- ------------

Balance at July 31, 2007 6,525,000 6,525 48,975 (65,730) (10,230)

Net income (loss) (17,924) (17,924)
 ------------ ------------- ------------- -------------- ------------

Balance at July 31, 2008 6,525,000 6,525 48,975 (83,654) (28,154)

Net income (loss) - - - 28,444 28,444
 ------------ ------------- ------------- -------------- ------------

Balance at July 31, 2009 6,525,000 $ 6,525 $ 48,975 $ (55,210) $ 290

Forward Stock Split : 20 for 1 130,500,000 $ 130,500 $ (130,500) -

Stock Issued for Services 300,000 300 - 300

Stock Issued for Acquisition of Patent 20,333,333 20,333 - 20,333

Net income (loss) (76,214) (76,214)
 ------------ ------------- ------------- -------------- ------------

Balance at October 31, 2009 157,658,333 $ 157,658 $ (81,525) $ (131,424) $ (55,291)
 ============ ============= ============= ============== ============

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

Lightlake Therapeutics, Inc.
(Formerly Known as Madrona Ventures, Inc.)
(a Development Stage Enterprise)
Statements of Cash Flows
For the Three Months Ended October 31, 2009 and Year Ended July 31, 2009 and the Period From
 Inception (June 21, 2005) to October 31, 2009
------------------------------------------------------------------------------------------------------------------

 From Inception
 (June 21, 2005)
 Three Months Ended - October 31, to October 31,
 2009 2008 2009
 --------------- --------------- ------------------

Cash Flows Provided (Used) By Operating Activities
 Net income (loss) $ (76,214) $ (5,372) $ (131,424)
 Adjustments to reconcile net income (loss) to net cash
 provided from (used by) operating activities:
 Increase (decrease) in accounts payable 1,100 (4,045) 1,100
 Increase (decrease) in due to related party 75,248 9,218 75,248
 --------------- --------------- ------------------
 Net cash provided from (used by) operating activities 134 (199) (55,076)

Cash Flows Provided (Used) By Investing Activities - - -

Cash Flows Provided (Used) By Financing Activities
 Issuance of common stock for services 300 300
 Issuance of common stock for cash - - 55,500
 --------------- --------------- ------------------
 Net cash provided from (used by) financing activities 300 - 55,800

Net increase (decrease) in cash and cash equivalents 434 (199) 724
Cash and cash equivalents, beginning of year 290 206 -
 --------------- --------------- ------------------
Cash and cash equivalents, end of year $ 724 $ 7 $ 724
 =============== =============== ==================

Supplemental disclosure
 Interest paid during the period $ - $ - $ -
 =============== =============== ==================

Non-Cash Transactions
 In August, 2009, the Company acquired a Patent and Patent Applications through the issuance of 20,333,000 Common shares.


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

Lightlake Therapeutics, Inc.
(Formerly Known As Madrona Ventures, Inc.)
(A Development Stage Enterprise)

1. Organization, Description of Business, and Basis of Accounting

Business Organization

Lightlake Therapeutics, Inc., (formerly known as Madrona Ventures, Inc.) (the Company) was originally incorporated in the State of Nevada on June 21, 2005. On September 16, 2009, the Company changed its' name to Lightlake Therapeutics, Inc. The Company's fiscal year end is July 31. The company is currently in the development stage and to date its' activities have been limited to capital formation. The Company has limited assets and no revenue and in accordance with SFAS No.7, is considered a Development Stage Company.

Accounting Basis

Interim Financial Statements

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission. All significant intercompany balances and transactions have been eliminated. These financial statements do not include all information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. It is recommended that these interim unaudited condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2009.

In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended October 31, 2009 are not necessarily indicative of the results which may be expected for any other interim periods or for the year ending October 31, 2010. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

These financial statements have been prepared on the accrual basis of accounting following generally accepted accounting principles of the country-regionplaceUnited States of America consistently applied.

2. Patent and Patent Applications

On August 24, 2009, the Company acquired European Patent EP1681057B1 and U.S. Patent Application 11/031,534 through the issuance of 20,333,000 of its' common stock.

3. Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. This raises substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty

4. Capital Stock

The Company has 200,000,000 common shares authorized at a par value of $0.001. At October 31, 2009, there were 157,658,333 shares issued and outstanding. The Company has no other classes of shares authorized for issuance.

At October 31, 2009, there were no outstanding stock options or warrants.

5. Common Stock Purchase Agreement

On October 31, 2009, the Company completed a common stock purchase agreement (the Pelikin Agreement) whereby Pelikin Group acquired 5,000,000 common shares of the Company's common stock from Belmont Partners. Following the transaction, Pelikin Group controls approximately 76.6% of the Company's outstanding capital stock. Concurrent with the agreement, Mr. Sei Ki was named to the Board of Directors as well as President and Secretary of the Company, and Mr. Joseph Muese resigned from all positions held in the Company.

6. Income Taxes

The Company has net operating loss carryforwards that were derived solely from operating losses from prior years. These amounts can be carried forward to offset future taxable income for a period of 20 years for each tax year's loss. No provision was made for federal income taxes as the Company has significant net operating losses.

The operating losses derive a deferred tax asset of approximately $30,277 and $18,800 at October 31, 2009 and July 31, 2008, respectively. At October 31, and July 31,2009, the Company has established a valuation allowance equal to the deferred tax assets as there is no assurance that the Company will generate future taxable income to utilize these assets.

Due to the provisions of Internal Revenue Code Section 338, the Company may have no net operating loss carryforwards available to offset financial statement or tax return taxable income in future periods as a result of a change in control involving 50 percentage points or more of the issued and outstanding securities of the Company.

7. Related Party Transactions

The Company's Director and former officer advanced funds to the Company for working capital needs in the amount of $ 75,248. The amounts were non-interest bearing, unsecured, with no stated terms or repayment.

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

FORWARD LOOKING STATEMENTS

Statements contained herein which are not historical facts are forward-looking statements as that term is defined by the Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such risks and uncertainties include without limitation: established competitors who have substantially greater financial resources and operating histories, regulatory delays or denials, ability to compete as a start-up company in a highly competitive market and access to sources of capital.

The following discussion and analysis should be read in conjunction with our financial statements and notes thereto included elsewhere in this Form 10-Q/A. Except for the historical information contained herein, the discussion in this Form 10-Q/A contains certain forward-looking statements that involve risk and uncertainties, such as statements of plans, objectives, expectations and intentions. The cautionary statements made in this Form 10-Q/A should be read as being applicable to all related forward-looking statements wherever they appear in this Form 10-Q/A. The Company's actual results could differ materially from those discussed here.

The Company was incorporated in the State of Nevada on June 21, 2005 and On September 16, 2009, the Company changed its' name to Lightlake Therapeutics, Inc. The Company's fiscal year end is July 31 and is a development stage Company. Lightlake Therapeutics Inc. is a drug discovery company focusing on developing new and innovative solutions to obesity and eating disorders.

During the year ended July 31, 2009, the company carried out very limited operations and on June 26, 2009 Belmont Partners (Belmont) acquired a controlling interest of approximately 76.6% of the Company's outstanding shares. (ref: Form 8-K filing date June 26, 2009) On July 31, 2009, the Pelikin Group acquired the 5,000,000 shares from Belmont and will be continuing operations as a pharmaceutical company focusing on developing new and innovative solutions to obesity and eating disorders.

PLAN OF OPERATION

Our plan of operation for the next twelve months is to pursue the Phase 2 clinical trials in Helsinki, Finland on the user patents that were acquired by the company from Dr. David Sinclair, in exchange for 20,333,333 restricted common shares on August 24, 2009. (see Exhibit 5, Sinclair Agreement Form 10-K) The safe and effective treatment is a proprietary patented pharmaceutical medicine-based behaviour program pioneered by Dr. David Sinclair

We have not attained profitable operations and are dependent upon obtaining financing to pursue the Phase 2 clinical trials in Helsinki, Finland. For these reasons our auditors believe that there is substantial doubt that we will be able to continue as a going concern.

LIQUIDITY AND CAPITAL RESOURCES

Our cash reserves are not sufficient to meet our obligations for the next twelve month period. As a result, we will need to seek additional funding in the near future. We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock. We may also seek to obtain short-term loans from our directors, although no such arrangements have been made. At this time, we cannot provide investors with any assurance that we will be able to obtain sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future equity financing.

RESULTS OF OPERATIONS

We did not earn any revenues during the three month period ending October 31, 2009 and have generated no revenues since inception. We have incurred operating expenses in the amount of $76,214 for the three month period ending October 31, 2009. For the same three month period ending October 31, 2008 our operating expenses was $5,372.

Our net loss for the three month period ending October 31, 2009 was $76,214 and our net loss from inception through October 31, 2009 was $131,424.

At October 31, 2009, we had assets of $21,057 and at the same date current liabilities of $76,348.

The following table provides selected financial data about our Company as at October 31, 2009 and July 31, 2009.

Balance Sheet Data: 10/31/09 7/31/09
------------------- ------- -------

Cash $ 724 $ 290
Total assets $ 21,057 $ 290
Total Liabilities $ 76,348 $ 0
Shareholder's equity $ 21,057 $ 290

We have not attained profitable operations and are dependent upon obtaining financing to pursue the clinical trials in Helsinki, Finland. In their report on our audited financial statements as at July 31, 2009, our auditors raised substantial doubt about our ability to continue as a going concern unless we are able to raise additional capital and ultimately to generate profitable operations.

SIGNIFICANT ACCOUNTING POLICIES
It is suggested that these financial statements be read in conjunction with our July 31, 2009 audited financial statements and notes thereto, which can be found in our Form 10-K annual filing and amendments thereto, on the SEC website at www.sec.gov under our SEC File Number 333-139915.

Our significant accounting policies are as follows:

PATENT OWNERSHIP

The user patents that were acquired by the company from Dr. David Sinclair, in exchange for 20,333,333 restricted common shares on August 24, 2009. (see Exhibit 5, Sinclair Agreement Form 10-K) The safe and effective treatment is a proprietary patented pharmaceutical medicine-based behaviour program pioneered by Dr. David Sinclair. The company plans to file and obtain the necessary requirements to conduct Phase II clinical trials in Helsinki, Finland. There is no guarantee that we will obtain the approval from the Finnish authorities to conduct the trials and the company will need to obtain the required financing if granted the approvals to conduct the trials. To date the company has not been granted the approvals to conduct the trials.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a smaller reporting Company we are not required to provide the disclosure required by this item.

Item 4. Controls and Procedures.

Under the supervision and with the participation of our management, including our principal executive officer and the principal financial officer, we have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were effective such that the material information required to be included in our Securities and Exchange Commission reports is accumulated and communicated to our management, including our principal executive and financial officer, recorded, processed, summarized and reported within the time periods specified in SEC rules and forms relating to our company, particularly during the period when this report was being prepared.

CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING

There have been no changes in our internal control over financial reporting that occurred during the last fiscal quarter ended April 30, 2009 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are not currently involved in any legal proceedings and we are not aware of any pending or potential legal actions.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
There were no sales of unregistered securities during the period of this report.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

There were no defaults upon senior securities during the period of this report.

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

There were no matters submitted to a vote of security holders during the period covered by this report.

ITEM 5. OTHER INFORMATION

On August 5, 2009 the Company increased its authorized shares from 75,000,000 to 200,000,000.

On August 20, 2009 the Company's shares increased by a 20 for 1 split.

On September 16 2009 the Company changed its name from Madrona Ventures Inc. to Lightlake Therapeutics Inc. and the new symbol of LLTP became effective October 7, 2009.

On October 22, 2009 the Company filed a Form 8-K/A noting the dismissal of our former auditing firm of Dale Matheson Carr-Hilton Labonte LLP. And the engagement of the accounting firm of PS Stephenson & Co., P.C., CPA on August 17 2009 respectively.

On October 23, 2009 Mr. Seijin Ki resigned as his position as CEO and Dr. Roger Crystal was appointed as the President and CEO. This Form 8-K was filed October 23, 2009.

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our form SB-2 Registration Statement, filed under SEC File Number 333-146934, at the SEC website at www.sec.gov:

Exhibit
Number Description
------ -----------

 3.1 Articles of Incorporation*
 3.2 Bylaws*
 31.1 Rule 13a-14(a)/14a-15(d) Certification
 31.2 Rule 13a-14(a)/14a-15(d) Certification
 32.1 Certification pursuant to 18 U.S.C. 1350
 32.2 Certification pursuant to 18 U.S.C. 1350

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

LIGHTLAKE THERAPEUTICS INC.

Date March 15, 2010 By: /s/ Dr. Roger Crystal
 -------------------------------------------
 Name Dr. Roger Crystal
 Title Chief Executive Officer and President



Date March 15, 2010 By: /s/ Seijin Ki
 -------------------------------------------
 Name Seijin Ki
 Title Chief Financial Officer and Director

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