EARTH LIFE SCIENCES INC - Quarter Report: 2014 June (Form 10-Q)

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

Form 10-Q

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2014

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT
For the transition period from ___ to ___

001-31444
(Commission File Number)

EARTH LIFE SCIENCES INC.
                 (Name of small business issuer in its charter)

           NEVADA                                                 98-0361119
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                              Identification No.)

7000 Chemin Cote de Liesse, Suite 8 Montreal, Quebec Canada        H4T 1E7
         (Address of principal executive offices)                 (Zip Code)

                                 (514) 373-8411
                            Issuer's telephone number

Former name, former address and former fiscal year, if changed since last report: N/A

Check whether the registrant (1) filed all reports required to be filed by sections 13 or 15(d) of the Exchange Act 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 [ ]

Check whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filed [ ] Smaller reporting company [ X ]

Check whether the registrant is a shell company, as defined in Rule 12b-2 of the Exchange Act.

Yes [] No [ X ]

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of August 20, 2014 the registrant’s outstanding common stock consisted of 202,328,633 shares.

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The interim financial statements included herein are unaudited but reflect, in management's opinion, all adjustments, consisting only of normal recurring adjustments that are necessary for a fair presentation of our financial position and the results of our operations for the interim periods presented. Because of the nature of our business, the results of operations for the quarterly period and the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the full fiscal year.

EARTH LIFE SCIENCES INC.
BALANCE SHEETS
(Unaudited

	June 30, 2014	December 31, 2013
ASSETS
*Current*
Cash	$ 962	$ 2,025
Accounts receivable	4,018	26,218
Loan Receivable	28,217	45,278
*Total Current Assets*	33,197	73,521
Total Assets	$ 33,197	$ 73,521

LIABILITIES
*Current Liabilities*
Accounts payable and accrued liabilities	$ 362,624	$ 393,540
Convertible Note payable	62,472	62,472
Loans payable	345,790	350,493
Total Liabilities	770,887	806,505

STOCKHOLDERS' EQUITY
Common Stock, at par value	202,329	202,329
Additional Paid in Capital	5,980,431	5,980,431
Common Stock Payable	20,0000	20,000
Deficit accumulated during development stage	(6,239,098)	(6,239,098)
Deficit	(701,351)	(696,646)
Total Stockholders' Deficit	(737,689)	(732,984)

Total Liabilities and Stockholders' Deficit	$ 33,197	$ 73,521


The Accompanying notes are integral part of these unaudited financial statements.

EARTH LIFE SCIENCES INC.
UNAUDITED STATEMENTS OF OPERATIONS

	Six Months Ended		Three Months Ended
Period Ended	June 30, 2014	June 30, 2013	June 30, 2014	June 30, 2013

REVENUES	$ 34,035	$ 32,188	$ 14,166	$ 18,913

*Total Revenues*	34,035	32,188	14,166	18,913

EXPENSES
Amortization	-	574	-	274
Interest expense	6,952	9,313	196	4,003
Office and Administration	31,788	79,581	16,418	40,551
*Total Expenses*	38,740	89,468	16,614	44,340
*NET INCOME (LOSS) FROM OPERATIONS*	(4,705)	(57,280)	(2,448)	(25,915)
*Other Income and Expenses*
Unrealized Foreign Exchange Gain (Loss)	-	9,214	-	6,225
Interest income	-	2	-	1
*Total Other Income and Expenses*	-	15,442	-	6,226
NET INCOME (LOSS)	(4,705)	(15,623)	(2,448)	(32,141)
*Total Comprehensive income (loss)*	$ (4,705)	$ (15,623)	$ (2,448)	$ (32,141)

*Basic and diluted loss per share*	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)

*Weighted average # of shares outstanding*	202,328,633	202,328,633	202,328,633	202,328,633

The Accompanying notes are integral part of these unaudited financial statements.

EARTH LIFE SCIENCES INC.
UNAUDITED STATEMENTS OF CASH FLOW

	Six Months Ended
	June 30, 2014	June 30, 2013

OPERATING ACTIVITIES
Net income (loss) for the period	$ (4,705)	$ (48,064)
Adjustment for non-cash expenses
Amortization	-	574
Change in:
Accounts Receivable	39,264	14,710
Accounts payable and accrued liabilities	(35,622)	31,400
*Cash used in operating activities*	(1,063)	(1,380)

INVESTING ACTIVITIES
*Cash used in Investing Activities*	-	-

FINANCING ACTIVITIES
*Cash from Financing Activities*	-	-

INCREASE (DECREASE) IN CASH FOR PERIOD	(1,063)	(1,380)
Cash, beginning of period	2,025	482
*Cash (overdraft), end of period*	$ 962	$ ( 898)




The Accompanying notes are integral part of these unaudited financial statements.

EARTH LIFE SCIENCES INC.

(A Development Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

June 30, 2013

NOTE 1 - NATURE OF BUSINESS

Nature of Business

Earth Life Sciences Inc.. (the "Company") was incorporated in the state of Nevada on November 2, 2001 as Altus Explorations, Inc. The Company is currently seeking a new business venture.

On October 1, 2010, Altus entered into a Share Exchange Agreement (the "Agreement") with UWD Unitas World Development Inc. ("UWD"), a privately held Canadian incorporated company. Pursuant to the Agreement, Altus issued 80,000,000 shares of common stock for the acquisition of 450 shares of common stock of The Canadian Tactical Training Academy Inc., representing 100% of the issued and outstanding shares of common stock, which were held by UWD. Further, Altus changed its name to Canadian Tactical Training Academy Inc. and increased the authorized share capital from 40,000,000 to 250,000,000 shares of common stock and then further from 250,000,000 to 450,000,000. The Company assumed the business Canadian Tactical Training Academy Inc., which is the training of law enforcement, security, investigation and protection for officers and individuals.

These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future. At June 30, 2014, the Company has not yet achieved profitable operations and has accumulated losses of $6,940,449 (December 31, 2013 - $6,935,744) since its inception and has a working capital deficiency of $732,984 (2013 - $680,409). The continuation of the Company as a going concern and the ability of the Company to emerge from the Development stage are dependent upon management's successful efforts to raise additional equity financing to continue operations and generate sustainable significant revenues.

These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company will require significant additional financial resources and will be dependent on future financings to fund its ongoing operations as well as other working capital requirements. There is no guarantee that management will be able to raise adequate equity financings or generate profits from operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern.

Management of the Company has undertaken steps as part of a plan with the goal of sustaining Company operations for the next twelve months and beyond. These steps include: (a) continuing efforts to raise additional capital and/or other forms of financing; and (b) controlling overhead and expenses. Management is aware that material uncertainties exist, related to current economic conditions, which could cast a doubt about the Company's ability to continue to finance its activities. It is to be expected that the Company may incur further losses in the Development of its business and there can be no assurance that any of these efforts will be successful.

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and are expressed in U.S. dollars. The Company's fiscal year-end is December 31.

Use of Estimates

The preparation of financial statements in conformity with US GAAP 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

periods. Actual results could materially differ from those estimates and assumptions. Significant areas requiring the use of management estimates relate to the determination of impairment of long lived assets, expected tax rates for future income tax recoveries and determining the fair values of financial instruments.

Equipment

Equipment is recorded at cost. Additions are capitalized and maintenance and repairs are charged to expense as incurred. Gains and losses on dispositions of equipment are reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of the assets which is three years for computers.

Impairment of Assets

The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the carrying value cost of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset's carrying value and fair value.

Other Comprehensive Income

The Company reports and displays comprehensive income and its components in the financial statements. During the three months ended June 30, 2014 and 2013, the Company had no components that would cause comprehensive income to be different than net loss.

Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting this standard, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

Basic and Diluted Loss per Share

Basic loss per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share reflect the potential dilution that could occur if potentially dilutive securities were exercised or converted to common stock. The dilutive effect of options and warrants and their equivalent is computed by application of the treasury stock method and the effect of convertible securities by the "if converted" method. For the years presented, diluted loss per share is equal to basic loss per share as the effect of the computations are anti-dilutive.

Financial Instruments

The carrying value of the Company's financial instruments, consisting of cash, accounts payable, convertible loans and subscriptions received in advance approximates their fair value. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

Stock-based Compensation

Compensation cost related to share-based payments, such as stock options and employee stock purchase plans, are recognized in the financial statements based on the grant-date fair value of the award. The compensation cost

associated with the issuance of stock options will be recognized over its vesting period based on the estimated grant-date fair value.

Stock awards outstanding under the Company's current plans are fully vested, therefore there is no unrecognized compensation cost related to non-vested options. No options were granted or exercised during the six months ended June 30, 2014.

Recent Accounting Pronouncements

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing allincremental financial reporting requirements for development stage entities. Theamendments also reduce data maintenance and, for those entities subject toaudit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows,and shareholder equity. Early application of each of the amendments is permitted for any annualreporting period or interim period for which the entity’s financial statements havenot yet been issued (public business entities) or made available for issuance(other entities). Upon adoption, entities will no longer present or disclose anyinformation required by Topic 915. The Company has adopted this standard.

In May 2014, FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The revenue recognition standard affects all entities that have contracts with customers, except for certain items. The new revenue recognition standard eliminates the transaction-and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle-based approach for determining revenue recognition. Public entities are required to adopt the revenue recognition standard for reporting periods beginning after December 15, 2016, and interim and annual reporting periods thereafter. Early adoption is not permitted for public entities. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. Management has reviewed the ASU and believes that they currently account for these awards in a manner consistent with the new guidance, therefore there is no anticipation of any effect to the consolidated financial statements.

We have reviewed the FASB issued Accounting Standards Update (“ASU”) accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration.

Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the financial statements of the Company.

NOTE 3 - DUE TO RELATED PARTIES

As at June 30, 2014, the Company had received advances from significant shareholders totalling $180,295 (December 31, 2013-$152,686). These loans are unsecured, non-interest bearing and have no set terms for repayment.

As at June 30, 2014, the Company had made a loan to significant shareholders of $14,508 (December 31, 2013- $45,228). These loans are unsecured, non-interest bearing and have no set terms for repayment.

As at June 30, 2014, the Company had accounts payable of $90,950 to a significant shareholder (December 31, 2013$90,950).

All related party transactions are measured at the exchange amount which is determined by management to approximate their fair value.

NOTE 4 - CONVERTIBLE LOANS

At June 30, 2014, the Company had entered into Convertible Loan Agreements (the "Loans") in the amount of $62,472 (December 31, 2013-$62,472).

Payment of all outstanding principal and interest in relation to these Loans were due in full on January 2, 2008.

The Loans interest rates are 12% per annum payable in arrears and are due upon the maturity of the Loans. The Company accrued interest of $6,952 (December 31, 2013 - $15,389) on the loans during the six months ended June 30, 2014.

The Loans are convertible at the shareholders' option into common stock at the lower of ten day average common share price immediately preceding the date of the Loans or the ten day average common share price immediately preceding the date that a Lender provides Notice of Conversion to the Company, but in no circumstance at a conversion rate of less than $0.001 per common share. The Loans are secured by the assets of the Company, and provide that in the occurrence of certain events the Loans' maturities are accelerated. The Company may prepay the Loans at anytime without penalty or bonus.

The ten day average share price immediately preceding the date of the loan was equal to the share price on the agreement date. The conversion feature had no intrinsic value and accordingly no beneficial conversion feature was recorded.

As at June 30, 2014, the Company has not repaid all of the Loans, nor have the shareholders' provided a Notice of Conversion to the Company.

NOTE 5 - COMMON STOCK

On June 2, 2011- The authorized number of shares was increased from 250,000,000 to 450,000,000.

NOTE 6 - STOCK OPTION PLAN

During the year ended December 31, 2004, the Company established a stock option plan pursuant to which 274,152 common shares were reserved for issuance. During the year ended December 31, 2004, the Company granted 216,250 stock options to directors, executive officers and employees and recognized $222,199 in share-based compensation expense. The options have an exercise price of $0.02 and a term of 10 years. All options were vested as of December 30, 2005 and are outstanding as of June 30, 2014.

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS AND PLAN OF OPERATION

RESULTS OF OPERATIONS

Three and six Months Ended June 30, 2014 and 2013

Our net loss for the six months ended June 30, 2014 totalled $4,705. This compares with our net loss of $48,064 for the six months ended June 30, 2013. General and administrative expenses for the six months ended June 30, 2014and 2013 were $31,788 and $79,581, respectively.

We incurred interest expense during the six months ended June 30, 2014and 2013 were $6,952 and $9,313, respectively. The Company had revenues during the six months ended June 30, 2014and 2013 were $34,035 and $32,188, respectively.

Our net loss for the three months ended June 30, 2014 totalled $2,448. This compares with our net loss of $25,915 for the six months ended June 30, 2013. General and administrative expenses for the three months ended June 30, 2014and 2013were $16,418 and $44,828, respectively.

We incurred interest expense during the three months ended June 30, 2014and 2013 were $196 and $4,003, respectively. The Company had revenues during the three months ended June 30, 2014and 2013 were $14,166 and $18,993, respectively.

LIQUIDITY AND CAPITAL RESOURCES

If we are unsuccessful in obtaining financing and fail to achieve and sustain a profitable level of operations, we may be unable to fully implement our business plans or continue operations. Future financing through equity, debt or other sources could result in the dilution of Company equity, increase our liabilities, and/or restrict the future availability and use of cash resources. Additionally, there can be no assurance that adequate financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to execute our business plans, and will be required to scale back the pace and magnitude of our oil and gas prospects drilling and development initiatives. We also may not be able to meet our vendor and service provider obligations as they become due. In such event, we will be forced to cease our operations.

FUTURE OPERATIONS

CASH REQUIREMENTS

During the twelve month period ending December 31, 2014, we project cash requirements of approximately $250,000 as we continue to restructure our activities.

Our estimated funding needs for the next twelve months are summarized below:

Estimated Funding Required During the Twelve Month Period Ending December 31, 2014


Operating, general and administrative costs	$	300,000
Revenue		50,000
TOTAL	$	250,000

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment over the next twelve months ending June 30, 2014.

In order to grow our new business the directors of the company have prepared the following business plan. The Company and its directors intend to execute this plan as soon as possible.

1. INTERNATIONAL MARKETING

The expansion of a corporation on the international spectrum is never a simple feat. At CTTA, the task begins with a thorough market study identifying the general and specific needs and requirements of a given region of the world regarding both public and private security training. Once the needs are identified, the market is approached and penetrated through the use of a winning combination of strategic partnerships, select sales agents, business development consultants and local public and private sector influential business liaisons. Whether obligatory by law or not, CTTA calls upon the assistance of local professionals in a region to help fully understand the realities of the markets we wish to enter.

2. COURSE DEVELOPMENT AND CUSTOMIZATION

In order to increase business, the team at CTTA is constantly evaluating both local and international market needs and requirements through fieldwork and the physical analysis of actual and potential clients known to require services such as those we offer. In addition, by staying in tune with the current state of affairs around the world, the highly experienced team of trainers and pedagogy professionals are regularly developing new and better adapted programs to tailor to the issues being faced by industry professionals today. Whether it has to do with proper Use of Force according to modern day tolerances and regulations, or the precise tactics of specialized Intervention teams, our experts are up to date and constantly producing solutions that better protect both the officers and the public they serve.

3. MANAGEMENT DISCUSSION AND ANALYSIS

Developing a game plan for growth at CTTA during the next 12 to 24 months includes the exploration of evolving yet expanding local and international security markets. Due to the fact that our fields of expertise cover a wide range of both general and specific Law enforcement and Security training, the need for what we can bring to an industry in constant need of upgrades and advanced up-to-date techniques, is obvious.

The main challenge for CTTA arises because we will be venturing into unchartered waters regarding never before seen quantities of public and private security professionals, requiring internationally accepted training in the fields of Crowd Management, Riot Control, Crisis Intervention, Special Event Security Management, Physical Intervention and Defensive Tactics. Seeing that the needs involve a multitude of jurisdictions around the world, a second challenge becomes the adaptation of our intellectual property to the realities of a targeted region in terms of language, governmental laws and regulations, as well as social, religious and cultural tolerances.

Proper management of the projected growth will come through the extensive international experience of the board of directors and the administration team of CTTA. In addition, a Business Development division is being created involving top industry and parallel industry performers, who with the guidance of our new board of advisors including international players of different nationalities and cultural backgrounds will effectively approach our targeted markets with un-measureable success.

After an extensive study of global tendencies, although every area in our world has its basic and specific security needs, the markets that CTTA will be focussing on are the following;

A. BRAZIL

Security in Brazil will attain unprecedented levels of global importance due to the fact that this region of the world will be host to international events such as the Formula 1 race circuit, the 2014 World Cup soccer championships and the 2016 Olympic Games. CTTA will be working with Canadian government officials and local officials to encompass the specific training and management requirements presented to assist police, private security and military units in dealing with the increase in the need for public maintaining of order.

B. MIDDLE EAST (GULF)

In Tunisia, Egypt, Yemen, Bahrain, Syria a message to the world has already been sent, members of the population are taking to the streets in protest to voice their discontentment with government and the ruling class. The need for additional training in crowd control and effective intervention is clear. Improved security procedures stem from the adoption of both proven strategies and training, tailored to the specific realities of the environment in question.

CTTA has signed an MOU with a Kuwaiti partner projecting to begin training members of the National Police Force of Kuwait in the fall of 2011.. Negotiations are also underway for a similar project in Qatar.

C. CANADA AND USA

Although local activities involve the specialized training of security and law enforcement personnel in an apparently saturated market, the constant global evolution in the industry forces the need for improvement locally. In a nearly immeasurable global market involving Tens of Billions of dollars, be it in the fields of Counter-Piracy, Counter-Terrorism, Executive Protection, Preventative Patrol Techniques and/or Defensive Tactics, more than ever, North American Security and Law Enforcement Operatives are active around the world sharing their Knowledge and "Savoir Faire" with co-patriots as well as allied forces trying tO maintain peace and order.

A number of recognized Law Enforcement and Correctional Training Academies have already begun adopting CTTA programs into their curriculum.

MARKET AND COMPETITON

INDUSTRY OVERVIEW

Economic instability, social conflicts, terrorism threats and crime are a big part of today's world. Therefore, police and private security forces, along with corporations and individuals have to face a lot of challenges when it comes to safety. Being well trained is often a major key in order to adequately face these challenges. Whether it is about learning new ways of doing things or practicing fundamentals skills, the private security and law enforcement training corporations are more and more solicited..

A very good side of our industry is, apart for firearm and some other specialized training, there are no training corporations either in Canada or United States that can be considered as THE school to go to. Although there are some big schools in the USA, it's a fragmented market and there are a lot of small training academies. Therefore, acquiring or partner up with other training corporations becomes an easy way of growing up.

CTTA FIELD OF EXPERTISE

CTTA offers various training programs for law enforcement, private security and civilians such as:

●	TACTICAL TRAINING: Defensive Tactics, Pressure Points, Handcuffing, Baton, Firearms and more.

●	BASIC TRAINING: Private security and investigation.

●	SPECIALIZED TRAINING: Executive Protection, Airport Security, Port Facilities Security, Crowd Control, Counter Terrorism and more.

●	CIVILIAN TRAINING: Corporate Safety Awareness, Street Survival and more.

Although CTTA is an international training academy, is primary market is North America. CTTA is composed by both American and Canadian directors and instructors, which gives a unique perspective for Law Enforcement training. United States is known to be very proactive with law enforcement training and Canada is known to be very strict with use of force and therefore, put prevention and de-escalation at first line. The synergy between the two countries gives amazing results and great training quality.

1. SECURITY MARKET ANALYSIS

Private law enforcement careers are rated among "the 30 best-paying fast-track careers".

Ontario employs approximately 70,000 private law enforcement professionals, versus 25,000 public police officers.
The US Bureau of Labor Statistics Reports Private Law Enforcement is projected to grow better than 20% by 2018.
The US Bureau of Labor Statistics reports the average income of a private investigator -with training- at $60,390.
Security directors, in the same report, average $77,000-$80,000 and security guards about $40,000.

LARGE INCREASE IN PRIVATE SECURITY PERSONNEL BETWEEN 2001 AND 2006

For many years, employment in the private security industry has exceeded that of public police officers (Chart 1). In 2006, this was the case for all provinces except Saskatchewan. There were about 102,000 private security personnel in Canada, compared to 68,000 police officers, representing about 3 private security personnel for every 2 police officers. Security guards made up 90% of private security personnel.

While the rate of both police officers and private security personnel per 100,000 population increased between 2001 and 2006, private security grew much faster, up 15% compared to 3% for police officers. The increase in private security personnel was due to the growth in the number of security guards.

Manitoba and Saskatchewan, which had the nation's highest crime rates, employed the most police per capita in 2006. Prince Edward Island and Newfoundland and Labrador, provinces with crime rates well below the national average, had the fewest number of police per capita.

Quebec reported the most security guards per capita among the provinces, while Alberta and Ontario had the most private investigators per capita.

COMPETITION:

Canada

There are several small security and tactical training academies in Quebec and Ontario especially, though few of them offer as many programs as CTTA does.

Ontario has the best growing potential in Canada and the training industry is not big enough to answer the needs. CTTA is planning to develop in Ontario this year.

United States

There are a lot of security and tactical training academies in the USA.

There are some big names like Smith & Wesson Academy, Safariland Training Group and PPCT Management Systems to name a few, but the market is huge and still offers a lot of possibilities. Although often conservatives, Americans nowadays are more open to look for new training solutions.

GOVERNMENT REGULATIONS:

Canada

Each province and one territory (Yukon) has regulations on place for the private security industry. In some of them, there are basic training requirements for the personnel. CTTA is currently working on to become a qualified academy to deliver that required training in Quebec and Ontario. As for the specialized training of law enforcement officers, there are many possibilities throughout Canada, but not in Quebec (provincial Police Act).

United States

Each State has different standards to train peace and private security officers. CTTA is already operating with local partners both in the States of Louisiana and Florida and is looking to grow a lot in the USA in the next few years.

INTERNATIONAL MARKET:

There are a lot of possibilities worldwide. CTTA is already involved in projects development in the Middle East (Kuwait and Qatar) and in Brazil. Other countries have also showed their interest in CTTA.

GOING CONCERN

The accompanying financial statements have been prepared assuming we will continue as a going concern. We incurred a net loss of $2,257 for the three months ended June 30, 2014 and a net loss of $13,275 for the same period in 2013.

There are no assurances that we will be able, over the next twelve months, to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings, bank financing or shareholder advances necessary to support Earth Life Sciences Inc.'s working capital requirements. To the extent that funds generated from operations and any private placements, public offerings or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to Earth Life Sciences Inc. If adequate working capital is not available, Earth Life Sciences Inc. may be required to cease its operations.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These conditions raise substantial doubt about our ability to continue as a going concern. There are no definitive agreements or arrangements for future funding.

APPLICATION OF CRITICAL ACCOUNTING POLICIES

Our financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States.. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our consolidated financial statements is critical to an understanding of our balance sheet, the statements of operations and stockholders' equity, and the cash flows statements included elsewhere in this filing.

ITEM 4 CONTROLS AND PROCEDURES

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting, as required by Sarbanes-Oxley (SOX) Section 404 A. The Company's internal control over financial reporting is a process designed under the supervision of the Company's Principal Executive Officer who is also our Principal Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for external purposes in accordance with U.S. generally accepted accounting principles.

As of June 30, 2014, management assessed the effectiveness of the Company's internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control--Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, during the period covered by this report, such internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal control over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

The matters involving internal controls and procedures that the Company's management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) inadequate segregation of duties consistent with control objectives; (2) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure

requirements; and (3) ineffective controls over period end financial disclosure and reporting processes. The aforementioned material weaknesses were identified by the Company's Principal Financial Officer in connection with the audit of our financial statements as of December 31, 2009 and communicated the matters to our management.

Management believes that the material weaknesses set forth in items (1), (2) and(3) above did not have an effect on the Company's financial results.

We are committed to improving our financial organization. As part of this commitment, we will i) create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to the Company ii) preparing and implement sufficient written policies and checklists which will set forth procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure requirements.

Management believes that preparing and implementing sufficient written policies and checklists will remedy the following material weaknesses (i) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of US GAAP and SEC disclosure requirements; and (ii) ineffective controls over period end financial close and reporting processes. Further, management believes that the hiring of additional personnel who have the technical expertise and knowledge will result proper segregation of duties and provide more checks and balances within the department. Additional personnel will also provide the cross training needed to support the Company if personnel turn over issues within the department occur.

We will continue to monitor and evaluate the effectiveness of our internal controls and procedures and our internal controls over financial reporting on an ongoing basis and are committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow. This annual report does not include an attestation report of the Company's registered accounting firm regarding internal control over financial reporting.

Management's report is not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission.

PART II — OTHER INFORMATION

ITEM 6. EXHIBITS


10.1	Convertible Loan Agreement between Altus Explorations Inc. and CodeAmerica Investments, LLC dated March 8, 2007 (incorporated by reference from our Current Report on Form 8-K, filed on March 13, 2007).
10.2	Convertible Loan Agreement between Altus Explorations Inc. and Paragon Capital, LLC dated March 8, 2007 (incorporated by reference from our Current Report on Form 8-K, filed on March 13, 2007).

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 20, 2014   EARTH LIFE SCIENCES INC.
                                        (Registrant)

                                        By: /s/ Angelo Marino
                                            ------------------------------------
Angelo Marino
                                            President

Exhibit 31.1

CERTIFICATION
PURSUANT TO RULE 13a-14(a) OR 15d-14(a)
OF THE U.S. SECURITIES EXCHANGE ACT OF 1934

I, Angelo Marino, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2014 of Canadian Tactical Training Academy, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order 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 Rules 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 the annual report is being prepared;
b) designed such internal control over financial 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 of the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect the registrant's internal control over financial reporting;

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 registrant's board of directors (or persons performing the equivalent function):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's control over financial reporting.

Date: August 20, 2014                  By: /s/ Angelo Marino
                                              ----------------------------------
Angelo Marino
                                              President

Exhibit 32.1

CERTIFICATION
PURSUANT TO 18 U.S.C. SECTION 1350
AND RULE 13a-14(b) OR RULE 15d-14(b)
OF THE U.S. SECURITIES EXCHANGE ACT OF 1934

In connection with the quarterly report of Altus Canadian Tactical Training Academy, Inc. (the "Company") on Form 10-Q for the fiscal quarter ended June 30, 2014 (the "Report"), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

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

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

Dated: August 20, 2014                     /s/ Angelo Marino
                                             -----------------------------------
Angelo Marino
                                             President