I-WELLNESS MARKETING GROUP INC. - FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington,D.C.20549

FORM 10-Q

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

For the quarter period ended April 30, 2014

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

	For the transition period form to

	Commission File number 333-172825

MONARCHY RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Nevada	46-0525633
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Calle urique número 5, Colonia Fuentes de Bellavista, c.p. 33880

Hidalgo del Parral, Chihuahua, Mexico

(Address of principal executive offices)

(702) 722-1003

(Registrant’s telephone number)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 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 small reporting company. See definition of “large accelerated filer”, “accelerated filer” and “small reporting company” Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ] Accelerated filer [ ]

Non-accelerated filer [ ] (Do not check if a small reporting company) Small 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 PROCEDING FIVE YEARS

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 after the distribution of securities subsequent to the distribution of securities under a plan confirmed by a court. Yes[ ]No [ ]

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:

June 30, 2013: 78,140,000 common shares

		Page Number
PART 1.	FINANCIAL INFORMATION

ITEM 1.	Financial Statements (unaudited)	3

	Condensed Balance Sheet as at April 30, 2014 and October 31, 2013	4

	Condensed Statement of Operations For the three and six months ended April 30, 2014 and 2013 and for the period June 16, 2010 (Date of Inception) to April 30, 2014	5

	Condensed Statement of Cash Flows For the six months ended April 30, 2014 and 2013 and for the period June 16, 2010 (Date of Inception) to April 30, 2014	6

	Notes to the Condensed Financial Statements.	7

ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13

ITEM 3.	Quantitative and Qualitative Disclosures about Market Risk	17

ITEM 4.	Controls and Procedures	17

PART 11.	OTHER INFORMATION	18

ITEM 1.	Legal Proceedings	18

ITEM 1A.	Risk Factors	18

ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	21

ITEM 3.	Defaults Upon Senior Securities	21

ITEM 4.	Submission of Matters to a Vote of Security Holders	21

ITEM 5.	Other Information	21

ITEM 6.	Exhibits	22

	SIGNATURES.	23

PART 1 — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The accompanying condensed balance sheets of Monarchy Resources, Inc. (Exploration stage company) at April 30, 2014 (with comparative figures as at October 31, 2013 as re-stated) and the condensed statement of operations for the three and six months ended April 30, 2014 and 2013 and for the period from June 16, 2010 (date of inception) to April 30, 2014 and the condensed statement of cash flows for the six months ended April 30, 2014 and 2013 and for the period from June 16, 2010 (date of inception) to April 30, 2014 have been prepared by the Company’s management in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

Operating results for the six months ended April 30, 2014 are not necessarily indicative of the results that can be expected for the year ending October 31, 2014.

MONARCHY RESOURCES, INC.

(Exploration Stage Company)

CONDENSED BALANCE SHEETS

	April 30, 2014	October 31, 2013
	(Unaudited)	(Restated and Unaudited)
ASSETS
CURRENT ASSETS

Cash	$ -	$ 99,970
Prepaid expense	250	180,500
Total Current Assets	250	280,470

TOTAL ASSETS	$ 250	$ 280,470

LIABILITIES AND STOCKHOLDERS’ DEFICIENCY

CURRENT LIABILITIES
Accounts payable (including related party amounts of $25,104 and $0, respectively)	$ 166,273	$ 79,613
Accrued interest	21,637
Advances from related parties	40,326	40,326
Promissory notes payable	-	50,000
Convertible promissory notes payable	454,500	175,000
Notes Payable	-	750,000

Total current liabilities	682,736	1,094,939

TOTAL LIABILITIES	682,736	1,094,939

STOCKHOLDERS’ DEFICIENCY
Common stock
300,000,000 shares authorized, at $0.001 par value;
66,140,000 shares issued and outstanding as at April 30, 2014 (46,140,000 as at October 31, 2013)	66,140	46,140
Additional Paid in Capital	6,114,260	4,758,760
Deficit accumulated during the Exploration stage	(6,862,886)	(5,619,369)

Total Stockholders’ Deficiency	(682,486)	(814,469)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY	$ 250	$ 280,470

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

MONARCHY RESOURCES, INC.

(Exploration Stage Company)

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	Three months ended April 30, 2014	Three months ended April 30, 2013	Six months ended April 30, 2014	Six months ended April 30, 2013	From June 16, 2010 (date of inception) to January 31, 2014

REVENUES	$ -	$ -	$ -	$ -	$ -

EXPENSES

Exploration costs	-	-	-	-	14,000
Impairment loss on mineral claim	-	-	-	-	5,000
Impairment loss on receivable	-	-	-	-	60,000
Impairment loss on investment	136,000		272,990		5,282,823
General and administrative	81,187	21,955	328,126	27,216	607,758

TOTAL OPERATING EXPENSES	217,187	21,955	601,116	27,216	5,969,581

OTHER EXPENSE (INCOME)
Loss on debt extinguishment	-	-	346,000	-	346,000
Loss on equity method investment	-	-	-	-	65,167
Interest expense	160,436	-	296,401	-	482,138

TOTAL OTHER EXPENSE (INCOME)	160,436	-	642,401	-	893,305

NET LOSS FROM OPERATIONS	$ (377,623)	$ (21,955)	$ (1,243,517)	$ (27,216)	$ (6,862,886)



NET LOSS PER COMMON SHARE

Basic and diluted	$ (0.00)	$ (0.00)	$ (0.02)	$ (0.00)

WEIGHTED AVERAGE OUTSTANDING SHARES

Basic and diluted	66,140,000	30,000,000	57,631,713	30,000,000

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

MONARCHY RESOURCES, INC.

(Exploration Stage Company)

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	Six months ended April 30, 2014	Six months ended April 30, 2013	From June 16, 2010 (date of inception) to January 31, 2014

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss	$ (1,243,517)	$ (27,216)	$ (6,862,886)

Adjustments to reconcile net loss to net cash used in operating activities:
Impairment loss on mineral claim	-	-	5,000
Expenses paid by a third party	-	-	15,000
Loss on equity method investment	-	-	65,167
Loss on debt extinguishment	346,000		346,000
Impairment loss on investment	272,990	-	5,282,823
Impairment loss on advance receivable	-	-	60,000
Debt discount amortization	279,500	-	454,500
Changes in operating assets and liabilities:
Advance receivable	-	-	(60,000)
Prepaid expense	180,250	1,500	284,750
Accrued interest	10,900		10,900
Accounts payable and accrued expenses	97,397	1,960	177,010

Net cash used in operating activities	(56,480)	(23,756)	(221,736)

CASH FLOWS FROM INVESTING ACTIVITIES

Investment in New WorldNew World Metals	(111,990)	-	(111,990)
Acquisition of mineral claim	-	-	(5,000)
Net cash used in investing activities	(111,990)	-	(116,990)

CASH FLOWS FROM FINANCING ACTIVITIES

Advances from related parties	-	-	55,326
Payments to related parties	-	-	(15,000)
Proceeds from Promissory Notes	118,500	5,186	278,500
Payments on notes payable	(50,000)		(50,000)
Stock issued for cash	-	-	69,900

Net cash provided by financing activities	68,500	5,186	338,726

Net decrease in cash	(99,970)	(18,570)	-

Cash at beginning of period	99,970	21,083	-

CASH AT END OF PERIOD	$ -	$ 2,513	$ -

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:

Note payable issued for investment	$ 75,000	-	$ 825,000
Common stock issued for prepaid expense	-	-	285,000
Common stock issued for investment	-	-	4,275,000
Common stock issued to extinguish debt	1,096,000	-	1,096,000

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

MONARCHY RESOURCES, INC.

(Exploration Stage Company)

NOTES TO CONDENSED FINANCIAL STATEMENTS

April 30, 2014

(Unaudited)

1. ORGANIZATION AND BASIS OF PRESENTATION

The Company, Monarchy Resources, Inc., was incorporated under the laws of the State of NevadaNevada on June 16, 2010 with the authorized capital stock of 300,000,000 shares at $0.001 par value.

The Company was organized for the purpose of acquiring and developing mineral properties. At the report date mineral claims, with unknown reserves, had been acquired. The Company has not established the existence of a commercially minable ore deposit and therefore has not reached the exploration stage and is considered to be in the Exploration stage.

The interim financial statements for the three and six months ended April 30, 2014 and 2013 are unaudited. These financial statements are prepared in accordance with requirements for unaudited interim periods, and consequently do not include all disclosures required to be in conformity with accounting principles generally accepted in the United States of America. The results of operations for the interim periods are not necessarily indicative of the results for the full year. In management's opinion all adjustments necessary for a fair presentation of the Company's financial statements are reflected in the interim periods included, and are of a normal recurring nature. These interim financial statements should be read in conjunction with the financial statements included in our Annual Report on Form 10-K, for the year ended October 31, 2013, as filed with the SEC.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Method

The Company recognizes income and expenses based on the accrual method of accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Basic and Diluted Net Income (loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes antidilutive and then the basic and diluted per share amounts are the same. As of April 30, 2014 and 2013, there were 30,000,000 (from convertible debt) and 0 potential common shares.

Income Taxes

The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on differences

between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

Impairment of Long-lived Assets

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.

Foreign Currency Translations

The books of the Company are maintained in United StatesUnited StatesUnited States dollars and this is the Company’s functional and reporting currency. Transactions denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations:

(i)	Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date;
(ii)	Non-Monetary items including equity are recorded at the historical rate of exchange; and

(iii)

Revenues and expenses are recorded at the period average in which the transaction occurred.

Investments

Investments in companies that are not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors, including, among others, ownership level. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Balance Sheets and Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s Balance Sheets. The Company evaluates these investments for other-than-temporary declines in value each quarterly period. Any impairment found to be other than temporary would be recorded through a charge to earnings. As of April 30, 2014 and 2013, the Company recorded impairment losses on the New World investment of $272,990 and $0, respectively.

Revenue Recognition

Revenue from the sale of minerals will be recognized when a contract is in place and minerals are delivered to the customer.

Mineral claim acquisition and exploration costs

The cost of acquiring mineral properties or claims is initially capitalized and then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.

Advertising and Market Development

The company expenses advertising and market development costs as incurred.

Financial Instruments

The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.

Statement of Cash Flows

For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.

Environmental Requirements

At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made.

Recent Accounting Pronouncements

The Company does not expect that the adoption of recent accounting pronouncements will have a material impact on its financial statements.

3. ACQUISITION OF MINERAL CLAIM

On June 21, 2010, the Company acquired the La Carlota Gold Claim located in the Republic of PhilippinesRepublicLa Carlota of PhilippinesPhilippines from Rodelio Mining Ltd., an unrelated company, for the consideration of $5,000. The La Carlota Gold Claim is located 30 kilometres northwest of the city of La Carlota in the Philippines. Under Philippine’s law, the claim remains in good standing as long as the Company has an interest in it. There are no annual maintenance fees or minimum exploration work required on the Claim.

The acquisition costs have been impaired and expensed because there has been limited exploration activity and there has been no reserve established and we cannot currently project any future cash flows or salvage value.

4. INVESTMENT IN NEW WORLD MINERALS S.A. de C.V.

the owners of New World in exchange for 28% of the issued and outstanding shares of New World. New World is a mining operator in the ChihuahuaChihuahuaMexico region of Mexico which owns three working mines; Morelos, La Luna, and Peneto. The shares of the Company were valued at $.285, which was the price of the shares sold to a third party under a stock subscription agreement in May 2013. The Company is accounting for this investment using the equity method.

On July 4, 2013, the Company entered into an agreement to increase its ownership in New World by 17%, to 45%, by issuing 5,000,000 shares and agreeing to pay $750,000 to three separate owners of New WorldNew WorldNew World. The shares of the Company were valued at $.285, which was the price of the shares sold to a third party under a stock subscription agreement in May 2013. The Company is accounting for this investment using the equity method. The Company’s share of the losses of New World for the period ended October 31, 2013 was $65,167.

On January 15, 2014, Monarchy agreed to issue 20,000,000 shares of the Company in trust for settlement of the $750,000 owed to New World, and on January 17, 2014 these shares were issued. As the fair value of these shares was $1,096,000 (based on the quoted price of the Company’s stock on January 17, 2014), the Company recorded a loss on debt extinguishment of $346,000 in the statement of operations.

5. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

The two previous Directors have acquired 12.5% of the common stock issued and have made advances to the Company of $40,326, as of April 30, 2014. The advances are non-interest bearing, unsecured and payable on demand.

6. PROMISSORY NOTES PAYABLE

The Company has entered into the following promissory note agreements:

Promissory Note	Rate	Date of Agreement	Repayment terms	Amount April 30, 2014			Amount October 31, 2013
1. Affiliated debt holder for services	5%	1-Aug-13	Demand, Convertible at $0.01 per share	$75,000			$ 75,000
2. Non related debt holder for property interest	12%	23-Aug-13	Monthly Payments of $15,000. Payout May 11, 2014	$ -			$ 50,000
3. Non related debt holder — for cash consideration	5%	1-Sep-13	Demand, Convertible at $0.01 per share	$100,000			$100,000
4. Affiliated debt holder — for cash consideration	5%	23-Nov-13	Demand, Convertible at $0.01 per share	$ 75,000			$ -
5. Affiliated debt holder — for cash consideration	5%	15-Jan-14	Demand, Convertible at $0.01 per share	$50,000			$ -
6. Affiliated debt holder	5%	1-Aug-13	Demand, Convertible at $0.01 per share	$154,500			$ -
					$454,500	$225,000

7. CAPITAL STOCK

On July 24, 2010, Company completed a private placement consisting of 30,000,000 common shares at $0.001 per share sold to directors and officers for a total consideration of $30,000.

Under an effective registration statement, the directors and officers sold 25,000,000 common shares to other investors in May 2012.

On June 19, 2013 the Company issued 10,000,000 shares and on July 4, 2013, the Company issued 5,000,000 shares to acquire 45% of the issued and outstanding shares of New WorldNew World.

On August 23, 2013, the Company recorded prepaid expense of $286,000 for 1,000,000 shares issued to its President (valued at $.285 per share), and the payment of $1,000 in cash, for a six month service contract. $107,250 of this amount was amortized to general and administrative expense for the year ended October 31, 2013.

On October 24, 2013, the Company issued 140,000 shares for cash of $39,900.

On January 15, 2014, the Company issued 20,000,000 shares in trust for settlement related to the $750,000 Note Payable to New World (see Note 4).

8. COMMITMENTS

The Company has entered into an agreement with its president to pay him $5,000 per month commencing January 2014. The Company has entered into an agreement with an advisor to the board to pay him $1,500 per month for three months commencing February 2014.

9. RESTATEMENT

The Company has restated the financial statements for the year ended October 31, 2013, to account for a promissory note that was executed in the prior year, but not recorded. The effect on the financial statement line items is as follows:

a.	Promissory Notes have increased $50,000 to reflect the Diamondback Eden settlement dated July 23, 2013 (see Note 6 above).

b.	Deficit as at October 31, 2013 has increased from $5,567,725 to $5,619,369 to reflect the $50,000 increase in the Impairment Loss on Mineral Claim, plus an increase in accrued interest and interest expense of $1,644.

10. GOING CONCERN

The Company will need additional working capital to accomplish its intended purpose of exploring its mining claim, which raises substantial doubt about its ability to continue as a going concern. Management of the Company has developed a strategy, which it believes will accomplish this objective through Director Advances, additional equity funding, and long term financing, which will enable the Company to operate for the coming year.

11. SUBSEQUENT EVENTS

On May 15, 2014, the Company issued 12,000,000 shares to settle $120,000 of convertible promissory notes.

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

The following discussion should be read in conjunction with the information contained in the financial statements of Monarchy Resources, Inc. (“Monarchy” or the “Company”) and the notes which form an integral part of the financial statements which are attached hereto.

The financial statements mentioned above have been prepared in conformity with accounting principles generally accepted in the United States of AmericaUnited States of AmericaUnited States and are stated in United States dollars.

Our Company was formed under the laws of the State of NevadaNevada on June 16, 2010.

Our offices are located at Calle urique número 5, Colonia Fuentes de Bellavista, c.p. 33880, Hidalgo del Parral, Chihuahua, Mexico and can be reached at (702) 722-1003.

We are an Emerging Growth Company as defined in the Jumpstart Our Business Startups Act.

We shall continue to be deemed an emerging growth company until the earliest of—

(A) the last day of the fiscal year of the issuer during which it had total annual gross revenues of $1,000,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,000,000) or more;

(B) the last day of the fiscal year of the issuer following the fifth anniversary of the date of the first sale of common equity securities of the issuer pursuant to an effective registration statement under this title;

(C) the date on which such issuer has, during the previous 3-year period, issued more than $1,000,000,000 in non-convertible debt; or

(D) the date on which such issuer is deemed to be a ‘large accelerated filer’, as defined in section 240.12b-2 of title 17, Code of Federal Regulations, or any successor thereto.

As an emerging growth company we are exempt from Section 404(b) of Sarbanes Oxley. Section 404(a) requires Issuers to publish information in their annual reports concerning the scope and adequacy of the internal control structure and procedures for financial reporting. This statement shall also assess the effectiveness of such internal controls and procedures.

Section 404(b) requires that the registered accounting firm shall, in the same report, attest to and report on the assessment on the effectiveness of the internal control structure and procedures for financial reporting.

As an emerging growth company we are exempt from Section 14A and B of the Securities Exchange Act of 1934 which require the shareholder approval of executive compensation and golden parachutes.

We have irrevocably opted out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the Act.

From our inception June 16, 2010 through April 30, 2014, we raised $69,900 in capital as follows: (1) in private placements by issuing 30,000,000 shares of common stock at the price of $0.001 per share to our two directors, and (2) by issuing 140,000 shares in exchange for $39,900. Subsequent to April 30, 2014, we have raised no further funds other than the advances from our directors mentioned above.

On May 14, 2013, the Company entered into a Share Purchase Agreement (the “SPA”) with the owners of New World Metals S.A.P.I. de C.V. (“New World”) Under the terms of the SPA, the Company issued 10,000,000 shares of the Company’s common stock to the owners of New World in exchange for 28% of the issued and outstanding shares of New World. New World is a mining operator in the ChihuahuaMexico region of Mexico which owns three working mines; Morelos, La Luna, and Peneto. The shares of the

Company were valued at $.285, which was the price of the shares sold to a third party under a stock subscription agreement in May 2013. The Company is accounting for this investment using the equity method.

On January 15, 2014, New WorldNew World agreed to convert the $750,000 commitment to 20,000,000 shares of the Company, and on January 17, 2014 these shares were issued. As the fair value of these shares was $1,096,000 (based on the quoted price of the Company’s stock on January 17, 2014), the Company recorded a loss on debt extinguishment of $346,000 in the statement of operations.

On May 15, 2014, the Company converted $120,000 of its promissory notes to 12,000,000 shares of the Company.

We have no full-time employees other than our management who devote time to our operations. For example, our President, Jose Perez spends approximately 35 hours each month. As our Company develops he will both devote more time to our operations. As our Company develops, he will both devote more time to our operations.

While our officer and director is not director or officer of any other company involved in the mining industry there can be no assurance such involvement will not occur in the future. Such involvement could create a conflict of interest.

Foreign Currency and Exchange Rates

Our mineral property is located in the Republic of PhilippinesRepublic of Philippines. The cost expressed in the geological report on La Carlota is expressed in the local currency, Philippine Pesos (“PHP”).Mexico Our investment in New World Minerals S.A.P.I de C.V. is located in Mexico.

DESCRIPTION OF THE PROPERTY

La Carlota Mineral Claim

Our La Carlota mineral claim is a 97.3 hectare parcel located in the Republic of the PhilippinesPhilippines.

La Carlota Gold Claim can be identified in the PhilippinesPhilippines by the following information:

We are presently in the Exploration stage and there is no assurance that mineralized material with any commercial value exits on either of our properties.

We do not have any ore body and have not generated any revenues from our operations. We have placed our proposed exploration program on hold in order to concentrate fully on participating in the development of the three mineral properties held by New World Metals.

Investment in New World Minerals S.A. P.I de C.V.

New World owns three working mines; Morelos, La Luna, and Peneto located in Chihuahua, MexicoChihuahua, New WorldMexico. The Company is a 45% shareholder in New World.

In Mexico, we have a 45% interest in New World Metals SAPI (“New World”) which directly owns three working mines; Morelos, La Luna, and Peneto located in Chihuahua, Mexico. The Company is a 45% shareholder in New World. All three interests are lode mining concessions granted by the State, with the right to explore and exploit. The expiration dates for all titles expire in 2052. The three concessions have been all obtained through the State Ministry of Mines. New World Metals has both the surface and

mineral rights to the property. The Concessions are without known proven (measured) or probable (indicated) reserves, as defined under SEC Industry Guide 7, and the exploration program is exploratory in nature.

Authorization and Permits

The transfer of concessions in Mexico must be registered under Mexican law. We have been advised that the transfer of the concessions to New World Metals has been registered with the appropriate Mexican authorities. Under Mexican law, a mining concession gives the holder both exploration and exploitation rights for any minerals found in the property. To maintain the concession, the holder must pay appropriate taxes, perform assessment work, comply with environmental laws, and file a production report each year with the appropriate authorities. Foreign individuals and companies wanting to hold concessions must do so through ownership in a Mexican corporation or through a joint venture and they may not hold mining concessions directly. Because of those requirements, we rely on New World Metals, persons associated with New World Metals, and its employees and consultants in Mexico, to perform all acts necessary to comply with the legal requirements necessary to maintain the concessions.

The Company has been advised that consultants working with New World Metals have obtained all of the approvals required for exploration rights under the concessions.

Mineralization

The mineralization is believed to be a low sulphadation epithermal deposit in quartz and calcite vein structures. The gold and silver on the properties is found in these veins and the host rock is shale.

Morelos Mine:

We hold an indirect 45% interest in this mine through our investment in New World. New World owns a direct interest in this mine. In 2013, major repairs and upgrades have been carried out to the mining structure at the Morelos Mine. Current assays at this new level show 1 gram of Gold and 200 grams of Silver per ton. The Morelos mine is 21 hectares and has gold and silver as its main minerals with assays averaging 2 grams of gold and 600 grams of silver per ton. Currently there is a stockpile of 6,000 tons of ore ready to process. Production is currently 30 tons per day.

Additional Mine details:

Name of Property	Morelos, Title number: T172230
Location and access	7.4 km southeast of Inde, Durango; Mexico, 2 hour drive from Parral, accessible by highway and 6 km of well-traveled dirt road
Description / History	This mine was in full production in the 1950â?²s. During the 1970â?²s it produced high grade mineral (15 kgs. of Silver)
Acreage	21 Hectares
Minerals Types	Gold & Silver

-8-

Stock Pile Size	6,000 tons
How many Assays	Multiple
Avg. Assay Results	600 Gr Silver 2 Gr Gold per ton
Bulk Sampling rate	40 Tons per day.
Source of power and water	Diesel generator, power line approx. 100m from property, water pumped out of mine and stored on site

La Luna Mine

We hold an indirect 45% interest in this mine through our investment in New World. New World owns a direct interest in this mine. In 2013 the La Luna Mine has been pumped free of water to the lower levels, and the shaft has been lowered an additional 7 meters. Most recent assays at these levels show 1.5 grams of Gold and 600 grams of Silver. The La Luna mine is 30 hectares and has gold and silver as its main minerals with assays averaging 2.5 grams of gold and 600 grams of silver per ton. Currently there is a stockpile of 3000 tons of ore ready to process. Production is currently 25 tons per day.

Additional Mine details:

Name of Property	La Luna, Title number: T217204
Location and access	Matamoros, Chihuahua, 42 km south of Parral, 24 km of highway, and 18 km of well-traveled dirt road.
Description / History	This mine was in operation in the 1970â?²s, but only the north zone was mined and only to the third level.
Acreage	30 hectares
Minerals Types	Gold and Silver
Stock Pile Size	3,000 tons
How many Assays	Multiple
Avg. Assay Results	600 Grams Silver; 2.5 Grams Gold. The main vein shows 13 kilos Silver and 25 Grams Gold
Bulk Sampling rate	30 Tons per day

Source of power, water Access to electrical grid power on site, water pumped out of mine and stored on site

Peneto Mine

We hold an indirect 45% interest in this mine through our investment in New World. New World owns a direct interest in this mine. The Peneto mine has gold and silver as its main minerals with assays averaging 11 grams of gold and 170 grams of silver per ton. Currently there is a stockpile of 500 tons of ore ready to process. Production is currently at 15tons per day. In 2013, at the Peneto Mine, the shaft was deepened an additional 8 meters, and assays have been ordered on these recent samples.

Additional Mine details:

Name of Property	Peneto, Title number: T194641
Location and access	Santa Barbara, Chihuahua, access by 6km of well-traveled dirt road
Description / History	Mine in production since 1990, but only explored to the fourth level
Minerals Types	Gold & Silver
Stock Pile Size	500 Tons
Acreage Avg Assay Results	20 Hectares 11 Grams Gold, 170 Grams Silver
Bulk Sampling Rate	15 Tons per day

During the 6 months ended October 31, 2013, New World has spent $141,641 on exploration activities. Our share of this loss was $54,989 which has been recorded in the records as an equity loss in the investment in New World.

Our total daily production or bulk sampling rate was a combined 85 tons per day for all three mines. Based on this daily total, and on a basis of 25 operating days per month, our bulk sampling rate is approximately 25,500 tons per year.

Balance Sheet as of April 30, 2014

Total cash as of April 30, 2014 was an overdraft $11,784

Our working capital was derived solely from capital stock and promissory notes. In addition, the previous directors have made advances to the Company of $40,326. No revenue was generated during these periods.

Total stockholders’ deficiency as of April 30, 2014, was $682,486. Our issued and outstanding shares as of April 30, 2014, were 66,140,000 common shares.

The six months ended April 30, 2014 compared to the six months ended April 30, 2013.

We incurred accumulated net losses since inception of $6,862,886. An analysis of the changes in expenses for the six months ended April 30, 2014 compared to April 30, 2013 is as follows:

	Six Months Ended April 30, 2014	Six Months Ended April 30, 2013	Difference	Explanation As there has been no independent valuation of the Mexican properties all expenditures are been
Impairment loss on investment	272,990	-	272,990	expensed
Lost on Debt Extinguishment	346,000	-	346,000	The loss reflects benefit to debt
Postage and delivery	3,711	91	3,620	Private placement costs
Printing and production	3,200	-	3,200	Private placement t costs
Bank Charges	244	-	244
Director Fees	120,595	-	120,595	Shares paid to director
Management Fees	12,000	-	12,000	Fees paid to President
Rent	1,500	-	1,500
Audit and Accounting	23,000	4,420	18,580
Consulting Fees	120,259	21,955	98,304	$35,000 paid to Consultants
Impairment on Receivable	-	-	-
Filing Fees	5,250	750	4,500	Increased filing requirements
Transfer Agent	1,492	-	1,492
				Increased activity with loans
Legal	26,875	-	26,875	and promissory notes
Travel	10,000	-	10,000	Travel to Mexico
				Implied interest of
Interest Expense	296,401	-	296,401	convertible debt at par value
Total	$1,243,517	$27,216	$1,216,301

The three months ended April 30, 2014 compared to the three months ended April 30, 2013.

We incurred accumulated net losses since inception of $6,862,886. An analysis of the changes in expenses for the three months ended April 30, 2014 compared to April 30, 2013 is as follows:

	Three Months Ended April 30, 2014	Three Months Ended April 30, 2013	Difference	Explanation As there has been no independent valuation of the Mexican properties all expenditures are been
Impairment loss on investment	136,000	-	136,000	expensed
Management, Director and Consulting	62,720	21,955	40,765	Fees paid-President & Consulting
Audit and Accounting	8,000	-	8,000	Audit and Q1
Filing Fees	750		750	Increased filing requirements
				Increased activity with loans
Legal	8,225		8,225	and promissory notes
Transfer Agent	1,492	-	1,492	Fees for last quarter
Interest Expense	160,436	-	160,436	Interest on convertible debt
Total	$1,243,517	$21,955	$355,668

MONTHS

As of April 30, 2014, we had cash of $0, prepaid expenses of $250, accounts payable and accrued expenses of $166,273, promissory notes and accrued interest of $476,137 and advances from related parties of $40,326, representing a working capital deficit of $682,486. Management has estimated that the need for funds over the next twelve months is as follows:

Expense	Ref.	Estimated Amount

Accounting and audit	(i)	$ 30,000
Edgarizing and XBRL filings	(ii)	5,000
Development costs — New World Metals	(iii)	750,000
Miscellaneous	(iv)	100,000
Promissory notes	(v)	420,000
Accounts payable and accrued expenses	(vi)	174,000
Estimate of additional cash requirements over the next twelve months		$ 1,579,000

(i) Accounting and audit

Relates to fees in connection with the preparation of quarterly and annual financial statements and filings on Forms 10-K and 10-Q

(ii) Edgarizing

With the requirement to do an XBRL filing both annually and quarterly the edgarizing cost are projected to increase over previous years.

(iii) Development Costs - MexicoMexico

We must invest $750,000 into the project over the next twelve months.

(iv) Miscellaneous

We must have a minimum of $100,000 to pay for consultants, offices, travel and other related items.

(v) Promissory Notes

The notes are to third parties and on demand.

(vi). Accounts payable — unrelated parties

Our future operations are dependent upon our ability to obtain third party financing in the form of debt and equity and ultimately to generate future profitable operations. As of the date of this Form 10-Q, we have not generated revenues, and have experienced negative cash flow from operations. We may look to secure additional funds through future debt, equity financings or advances from our officers and directors. These sources of financing may not be available or may not be available on reasonable terms.

Trends

From our date of inception we have been a Exploration company which has produced no revenue and maybe will not be able to produce revenue. To the knowledge of management we are unaware of any trends or past and future events which will have a material effect upon our Company, its income and business, both in the long and short term. Please refer to our assessment of Risk Factors as noted on page 24.

Critical Accounting Policies and Estimates

In presenting our financial statements in conformity with U.S. generally accepting accounting principles, or GAAP, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses and related disclosures.

Some of the estimates and assumptions we are required to make relate to matters that are inherently uncertain as they pertain to future events. We base these estimates and assumptions on historical experience or on various other factors that we believe to be reasonable and appropriate under the circumstances. On an ongoing basis, we reconsider and evaluate our estimates and assumptions. Actual results may differ significantly from these estimates.

We believe that the critical accounting policies listed below involve our more significant judgments, assumptions and estimates and, therefore, could have the greatest potential impact on our financial statements. In addition, we believe that a discussion of these policies is necessary to understand and evaluate the financial statements contained in this prospectus.

Estimates and Assumptions

Mineral claim acquisition and exploration costs

Income Taxes

The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

Recent Accounting Pronouncements

The Company does not expect the adoption of any recent accounting pronouncements to have a materially impact on its financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Accounting Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of April 30, 2014(the “Evaluation Date”). Based on that evaluation, the Principal Executive Officer and Principal Accounting Officer have concluded that these disclosure controls and procedures were not effective as of the Evaluation Date as a result of the material weaknesses in internal control over financial reporting.

Disclosure controls and procedures are those controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Principal Executive Officer and Principal Accounting Officer, to allow timely decisions regarding required disclosure.

Notwithstanding the assessment that our internal control over financial reporting was not effective and that there were material weaknesses, we believe that our financial statements contained in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2014 fairly present our financial condition, results of operations and cash flows in all material respects

Changes in Internal Controls

There were no changes in our internal control over financial reporting during the quarter ended April 30, 2014 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

There are no legal proceedings to which Monarchy is a party or to which the La Carlota Claim or New World Metals S.A.P.I. de C.V. is subject, nor to the best of management’s knowledge are any material legal proceedings contemplated.

ITEM 1A. RISK FACTORS

Investing in our common stock involves a high degree of risk. Before you invest in our common stock, you should be aware that our business faces numerous financial and market risks, including those described below, as well as general economic and business risks. The following discussion provides information concerning the material risks and uncertainties that we have identified and believe may adversely affect our business, financial condition and results of operations. Before you decide whether to invest in our common stock, you should carefully consider these risks and uncertainties, together with all of the other information included in this Form 10-Q .

Risks Associated with our Company and our Industry

We are governed by only one person, Jose Perez, which may lead to faulty corporate governance.

We have one director and one executive officer who make all the decisions regarding corporate governance. This includes their (executive) compensation, accounting overview, related party transactions and so on. They will also have full control over matters that require Board of Directors approval. This may introduce conflicts of interest and prevent the segregation of executive duties from those that require Board of Directors’ approval. This may lead to ineffective disclosure and accounting controls. None compliance with laws and regulations may result in fines and penalties. They would have the ability to take any action as they themselves review them and approve them. They would exercise control over all matters requiring shareholder approval including significant corporate transactions. We have not implemented various corporate governance measures nor have we adopted any independent committees as we presently do not have any independent directors.

Our executive officers have other business interests which may limit the amount of time they can devote to our Company and create conflicts of interest.

Our executive officers have other business interests meaning they are unable to work full time for our Company. This might eventually led to business failure. Our President spends approximately 35 hours a month on the affairs of the Company. As our Company commences further exploration programs management will have to spend more time on the affairs of the Company. Unforeseen events may cause this amount of time to become even less. Our officers may also have conflicts of interest as a result of their relationships with the companies they currently are involved with.

We must attract and maintain key personnel or our business will fail.

Success depends on the acquisition of key personnel. We will have to compete with other companies both within and outside the mining industry to recruit and retain competent employees. If we cannot maintain qualified employees to meet the needs of our anticipated growth, this could have a material adverse effect on our business and financial condition.

We are recently incorporated, have a lack an operating history and have yet to make any revenues. If we cannot generate any profits, you may lose your entire investment.

We are a recently incorporated company and have yet to generate any revenues. No profits have been made to date and if we fail to make any then we may fail as a business and an investment in our common stock will be worth nothing. We have no operating history and thus no way for you to measure progress or potential future success. Success has yet to be proved. Currently, there are no operations in place to produce revenue. We are exploration company and have yet to find or produce sellable product. Financial losses should be expected to continue in the near future and at least until such time that we enter the production stage. As a new business we face all the risks of a ‘start-up’ venture including unforeseen costs, expenses, problems, and management limitations and difficulties. Since inception, we have accumulated losses of $6,654,607. There is no guarantee, unfortunately, that we may ever be able to turn a profit or locate additional opportunities, hire additional management and other personnel.

We need to acquire additional financing or our company will fail.

We must obtain additional capital or our business will fail. In order to explore the claim and eventually establish operations, we must secure more funds. Currently, we have very limited resources and have already accumulated a net loss. Without operations, we will make no money which may result in complete loss of your investment. Financing is also needed to bring product to market. Financing may be subject to numerous factors including investor sentiment, acceptance of mining claims and so on. We currently have no arrangements for additional financing. We may also have to borrow large sums of money that require substantial capital and interest payments. We must perform mineral explorations on La Carlota Gold Claim to determine if any ore reserves are present.

The probability of a mineral claim having profitable reserves is very rare and our claim, even with large investments, may never generate a profit.

We are dependent upon our mining property for success. All anticipated future revenues would come directly from La Carlota. Should we fail to extract and sell gold from this property, our business will fail.

Mineral deposit estimates are imprecise and subject to error, and resource calculations when made may prove unreliable. Assumptions made regarding the supporting data may prove inaccurate and unforeseen events may lead to further inaccuracies. Sample variability, mining and processing adjustments, environmental changes, metal price fluctuations, and law and regulation changes are all factors that could lead to deviances from the original estimations. No assurances can be given that any mineral deposit estimate will ever be reclassified as a reserve. We have no known ore reserves. Despite future investment in exploration activities, there is no guarantee we will locate a commercially viable ore reserve. Most exploration projects do no result in discovery of commercially mineable deposits. With little capital available, we will have to limit our exploration which decreases the chances of finding a commercially viable ore body. Even if gold is identified, La Carlota may not be put into production due to high extraction costs, low gold prices, or inadequate amount and reduced recovery rates. If the exploration activities do not suggest a commercially successful prospect then we may altogether abandon plans to develop the property.

The exploration and prospecting of minerals is speculative and extremely competitive which may make success difficult.

We face strong competition from other mining companies for the acquisition of new properties. New properties increase the probability of discovering a profitable reserve. Most companies have greater financial and managerial resources than we do and can acquire and explore attractive new mining properties. We will face similar difficulties raising new capital to expand operations against the larger, better capitalized competitors. Limited supply and unforeseen demand from larger, more competitive companies may make secure all necessary equipment and materials difficult and may result in periodic interruptions or even business failure. Success depends on a combination of many factors including but not limited to: the quality of management, technical (geological) expertise, quality of land available for exploration and the capital available for exploration.

We have put our mineral projects into production without first establishing mineral reserves supported by a technical report or feasibility study.

We have placed our Mexican mineral projects into production without first establishing mineral reserves supported by a technical report and completing a feasibility study. Historically, such projects have a much higher risk of economic or technical failure. We have not based our production decision on a pre-feasibility or feasibility study of mineral reserves, which demonstrate our economic and technical viability. As a result, there is increased uncertainty, with specific economic and technical failure associated with this decision.

International operations in the PhilippinesPhilippines Mexicoand Mexico are subject to inherent risks.

Political instability, uncertainty of the economic climate, currency fluctuations, exchange controls and taxation laws may be significant in our business dealing in the PhilippinesPhilippinesMexico and PhilippinesMexico. Access to all of the equipment, supplies and materials necessary to begin exploration may not be available and may delay our exploration activities in the Philippines. We have not yet attempted to locate or negotiate with any suppliers of products, equipment or materials but plan to do so when exploration begins. Exchange rate changes between the Philippine currency and the Mexican currency and the U.S. Dollar may also adversely affect our successful operations.

Our future operations may be adversely affected by future governmental and environmental regulations and permitting.

Environmental regulations may negatively affect the progression of operations and these regulations may become stricter in the future. Obtaining licenses and permits from these agencies as well as an environmental impact study for each mining property must be completed before starting mining activities. These are expensive and affect the timing of operations. Pollution can be anticipated with mining activities. If we are unable to comply with current or future regulations, this may expose us to fines, penalties and litigation that could cause our business to fail.

We are vulnerable to the change of the world gold supply, demand and prices.

Gold prices change on a world market beyond our control. A drop in price would adversely affect our ability to generate a profit. All our revenues would be derived from the sale of gold and possibly other precious metals. Changes in the price of gold thus may affect profitability and impede us from being

able to afford to continue operations. Gold prices historically have fluctuated widely; price tends to be linked to a number of factors beyond our control such as: various macroeconomic factors (terrorism, political and regional events that may include such, confidence in the global monetary system, rate of inflation expectations, interest rates, US dollar and certain other currency strength); speculative or hedging activities; forward sales by producers, speculators and other holders; central bank lending; sales and purchases of gold; industrial and jewellery demand; and the current supply and demand. These things are impossible for us to predict. Per ounce, gold has been $384 (1995), $279 (2000), $420 (2005), $1,120 (2010), $1,834 (2011), $1,754 (2012), $1,450 (2013) London PM Fix Price for instance. This volatility may favour operations now but should the price drop unexpectedly some or all exploration activities may become economically unfeasible in the future.

We are subject to inherent mining hazards and risks that may result in future financial obligations.

Risks and hazards associated with the mining industry may adversely affect our operations such as, but not limited to political and country risks, industrial accidents, labor disputes, inability to retain necessary personnel or equipment, environmental hazards, unexpected geologic formations, cave-ins, landslides, flooding and monsoons, fires, explosions, power outages, processing problems. Personal injury and death could result as well as property damage, delays in mining, environmental damage, legal liability and monetary loss. We may not be able to obtain insurance to cover these risks at economically reasonable premiums. We do not carry any sort of insurance and may have difficulties obtaining such once operations start as insurance is generally sparse and cost prohibitive.

Risks related to our stock

We may not be able to raise additional capital through future offers of our shares but in doing so will dilute the shares presently issued and outstanding.

Raising additional capital through future offerings of common stock may be necessary for our company to continue going, but there is no guarantee that this will be possible. Doing so will, however, dilute percentage of our Company’s shares presently held by our shareholders. Financing may be achieved by issuing more shares which will increase the number of common shares outstanding. This will decrease the percentage interest held by each of our shareholders. As the total number of outstanding common shares increases, the equity attached to any individual share will decrease causing a dilution of shareholders’ ownership over the company. With little other access to funds currently, we may have to rely on this method substantially to raise additional capital.

Should a public market develop for our stock, future sales of shares may negatively affect their market price.

Even if a market develops, the shares may be sparsely traded and have wide share price fluctuations. If we succeed in receiving a quotation, the liquidity of the stock may be low despite there being a market making it difficult to get a return on the investment. In addition the price also depends on potential investor’s feelings regarding the results of our operations, the competition of other companies’ shares, mineral prices, our ability to generate future revenues, and market perception about future mineral exploration.

Because our stock is a “penny stock”, trading of it may be restricted and limit a shareholder’s ability to buy and sell shares.

As our stock is a penny stock, there are restrictions imposed by the United States Securities and Exchange Commission’s (“SEC”) penny stock regulations and the FINRA’s sales practice requirements. This might limit a shareholder’s ability to buy and sell their shares as broker-dealers may be less likely to engage in transactions of our common shares. A penny stock generally includes any non-NASDAQ equity security that has a market price of less than $5.00 per share. Our common stock is expected to trade well below that mark. Rules 15g-1 through 15g-9 under the Exchange Act impose sale practice and disclosure requirements on certain brokers-dealers who engage in certain transactions involving a “penny stock”

We have not paid nor anticipate paying cash dividends on our common stock.

Cash dividends are not currently paid on our common stock shares nor are they expected to be paid in the near future. We intend to retain our cash for the continued development of our business. Thus, you will not be able to derive any dividend income and your return on investment will solely be based on your ability to sell your shares in a secondary market.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

There has been no change in our securities since the fiscal year ended October 31, 2013 except that on January 15, 2014, we issued 20,000,000 shares in trust to satisfy a debt of $750,000 and on May 15, 2014 $120,000 of convertible notes were converted into 12,000,000 shares of the Company.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURE

Not Applicable

ITEM 5. OTHER INFORMATION

Not Applicable

ITEM 6. EXHIBITS

(a) (3) Exhibits

The following exhibits are included as part of this report by reference:

3		Corporate Charter (incorporated by reference from Monarchy’s Registration Statement on Form S-1 filed on March 15, 2011 Registration No. 333-172825)

3(i)		Articles of Incorporation (incorporated by reference from Monarchy’s Registration Statement on Form S-1 filed on March 15, 2011, Registration No.333-172825)

3(ii)		By-laws (incorporated by reference from Monarchy’s Registration Statement on Form S-1 filed on March 15, 2011, Registration No. 333-172825)

10.1		Transfer Agent and Registrar Agreement (incorporated by reference from Monarchy’s Registration Statement on Form S-1 filed on March 15, 2011 Registration No. 333-172825)
10.2		Share Exchange Agreement dated May 14, 2013 (incorporated by reference to the Form 8 filed on May 14, 2013.
10.3		Share Exchange Agreement dated July 9, 2013 (incorporated by reference to the Form 8 filed on July 9, 2013)

31.1 Certification of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (*)

31.2 Certification of Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (*)

32.1 Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (*)

32.2 Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted

pursuant to Section 906 of Sarbanes-Oxley Act of 2002 (*)

101.INS XBRL Instant Document (*)

101 SCH XBRL Taxonomy Extension Schema Document (*)

101 CALCAL XBRL Taxonomy Extension Calculation Linkbase Document (*)

101 LAB XBRL Taxonomy Extension Labels Linkbase Document (*)

101 PRE XBRL Taxonomy Extension Presentation Linkbase Document (*)

101 DEF XBRL Taxonomy Extension Definition Linkbase Document (*)

(*) Filed herewith

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.

	MONARCHY RESOURCES, INC.
	(Registrant)



Date: June 30, 2014	// “Jose Perez”
	JOSE PEREZ Chief Executive Officer, President and Director

Exhibit 31.1 The certification required by Rule 13a-14a (17 CFR 240.13a-14(a)) or Rule 15d-14(a) (17CFR 240. 15d-14(a))

I, Jose Perez, certify that:

1. I have reviewed this Form 10-Q of Monarchy Resources, Inc. (the “registrant”);

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. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act 13a-15(e) and 15d — 15(e)) 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 our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal controls over financing reporting, or caused such internal control over financial reporting to be designed under our 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 our conclusions about the effectiveness of the disclosure controls and procedures, as of the end to 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 year (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. The registrant’s other certifying officer(s) and I have disclosed, based on our 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 operations 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.

Dated: June 30, 2014

// “Jose Perez”

JOSE PEREZ

Chief Executive Officer, President and Director

Exhibit 31.2 The certification required by Rule 13a-14a (17 CFR 240.13a-14(a)) or Rule 15d-14(a) (17CFR 240. 15d-14(a))

I, Jose Perez, certify that:

1. I have reviewed this Form 10-Q of Monarchy Resources, Inc. (the “registrant”);

(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.

Dated June 30, 2014

// “Jose Perez”

JOSE PEREZ

Chief Financial Officer and Secretary

Exhibit 32.1

CERTIFICATE 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 (the “Report”) on the Form 10-Q of Monarchy Resources, Inc. (the “Company”) for the three months ended April 30, 2014, as filed with the Securities and Exchange Commission on the date hereof, I, Guilfred Colcol Casimiro, Chief Executive Officer, President and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:(the “Company”) for the six months ended April 30, 2014, as filed with the Securities and Exchange Commission on the date hereof, I, Jose Perez, Chief Executive Officer, President and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

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

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

Date: June 30, 2014

// “Jose Perez”

JOSE PEREZ

Chief Executive Officer, President and Director

Exhibit 32.2

CERTIFICATE 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 (the “Report”) on the Form 10-Q of Monarchy Resources, Inc. (the “Company”) for the three months ended April 30, 2014, as filed with the Securities and Exchange Commission on the date hereof, I, Marc Andrew Mercado, Chief Accounting Officer, Chief Financial Officer and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:(the “Company”) for the six months ended April 30, 2014, as filed with the Securities and Exchange Commission on the date hereof, I, Jose Perez, Chief Accounting Officer, Chief Financial Officer and Director, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

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

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

Date: June 30, 2014

// “Jose Perez”

JOSE PEREZ

Chief Financial Officer and Secretary

I-WELLNESS MARKETING GROUP INC. - FORM 10-Q - July 2, 2014

I-WELLNESS MARKETING GROUP INC. Reports