UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________

FORM 10-K ~~(Mark One) (X)~~

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ~~For the Fiscal Year Ended December~~

FOR THE FISCAL YEAR ENDED DECEMBER 31, ~~2009 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934~~ 2011

Commission File ~~No.~~ Number: 333-148546 ~~ELEMENTAL PROTECTIVE COATINGS CORP. ------------------------------------------- (Exact~~

NSU RESOURCES INC

F/K/A BIO-CARBON SOLUTIONS INTERNATIONAL INC.

(Exact name of registrant as specified in its charter) ~~Nevada 20-8248213 - --------------------------------- ------------------------------------ (State or other jurisdiction (I.R.S.~~

NEVADA		20-8248213
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

500 Gran Street,

Sault Ste Marie, Ontario, Canada P6A 2Z5

(Address of incorporation or organization) Water Park Place 20 Bay Street Toronto, ON M5J2N8 - ---------------------------------------- ---------------- (Address of Principal Executive Office) Zip Code principal executive offices, including zip code)

(705)253-0339

(Registrant's telephone number, including ~~Area Code: (646) 448-0197~~ area code)

Securities registered pursuant to Section 12(b) of the Act:

None

Title of class		Name of each exchange on which registered
Common Stock. $0.001 par value per share		None

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.001 par value per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in ~~Rule~~ 405 of the Securities Act.

Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes [X] No [ ]

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

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

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated ~~filer"~~filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] (Do not check if a smaller reporting company) (Check one):

Large accelerated filer [ ]

Accelerated filer [ ]

Non-accelerated filer [ ]

(Do not check if smaller reporting company)

Smaller Reporting Company [X]

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

Yes [ ] No [X]

The common stock was last issued at a price of $0.01 on May 13, 2011. The aggregate market value of the voting ~~stock~~and non-voting common equity held by non-affiliates ~~of the Company on June 30, 2009~~ was ~~-0-.~~ $1,344,000at December 31, 2011.

As of ~~March 31, 2010,~~April 15, 2012, the ~~Company~~Registrant had ~~13,300,000 issued and~~ 151,311,130outstanding shares of ~~common stock. Documents incorporated by reference: None~~ ~~ITEM 1. BUSINESS The Company was formed in January 2007 to provide elderly and hospitalized persons~~Common Stock with assistance in performing everyday tasks that, due to health reasons, they were unable to perform. The Company never generated any revenue and essentially abandoned its business plan in 2008. In July 2009,a par value of $0.001 per share.

INDEX

NSU RESOURCES INC

		PAGE NO
PART I

ITEM 1	BUSINESS	4
ITEM 1A	RISK FACTORS	9
ITEM 1B	UNRESOLVED STAFF COMMENTS	13
ITEM 2	PROPERTIES	13
ITEM 3	LEGAL PROCEEDINGS	13
ITEM 4	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS	13

PART II

ITEM 5	MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES	13
ITEM 6	SELECTED FINANCIAL DATA	13
ITEM 7	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	14
ITEM 7A	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	14
ITEM 8	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA	14
ITEM 9	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE	15
ITEM 9A(T)	CONTROLS AND PROCEDURES	15
ITEM 9B	OTHER INFORMATION	17

PART III

ITEM 10	DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE	18
ITEM 11	EXECUTIVE COMPENSATION	19
ITEM 12	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS	19
ITEM 13	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE	20
ITEM 14	PRINCIPAL ACCOUNTANT FEES AND SERVICES	21

PART IV

ITEM 15	EXHIBITS AND FINANCIAL STATEMENT SCHEDULES	21

SIGNATURES		22

PART I.

Cautionary Note

This Annual Report on Form 10-K contains forward-looking statements within the ~~Company's directors approved a 10-1 forward stock split. Prior to the stock split there were 5,630,000 outstanding shares~~meaning of common stock. Subsequent to the stock split there were 56,300,000 outstanding shares of common stock. The stock split did not affect the number of shares of common or preferred stock that the Company is authorized to issue. In October 2009, Debbie Barnum, an officer and directorSection 27A of the ~~Company sold 21,500,000 shares~~Securities Act of ~~common stock to the Company for $100. On that same date, Darin Barnum, also an officer~~1933 and director of the Company sold 21,500,000 shares of common stock to the Company for $100. In November 2009, MSE Enviro-Tech Corp ("MSE") assigned to the Company the rights to sell MSE's fire retardant products in the United States. In consideration for the assignment of these rights, the Company issued MSE a promissory note in the principal amount of $5,000,000. The note bears interest at 6% per year, is unsecured, and is payable on November 16, 2011. At the option of the holder, the note can be converted into shares of the Company's common stock. The number of shares to be issued will be determined by dividing the amount of the note to be converted by $0.25. In November 2009, Gilles Trahan and Martin Baldwin were appointed directors of the Company. Subsequent to these appointments, Ms. Barnum and Mr. Barnum resigned as officers and directors of the Company. Mr. Trahan was then appointed as the Company's President and Chief Executive Officer and Mr. Baldwin was appointed as the Company's Secretary, Treasurer and Chief Financial Officer. In connection with their resignations, Ms. Barnum sold her 3,500,000 remaining shares in the Company to Mr. Trahan and Mr. Barnum has sold his 3,500,000 remaining shares in the Company to Mr. Baldwin. In November 2009, in accordance with Nevada Revised Statutes, the directors of the Company approved an amendment to the Company's articles of incorporation changing the Company's name from DBL Senior Care, Inc. to Elemental Protective Coatings Corp. On the same day, the shareholders owning a majority of the Company's issued and outstanding shares approved the amendment. The name change became effective on the OTC Bulletin Board on January 21, 2010. The Company plans to sell environmentally friendly, water-based products that prevent materials from igniting and in doing so prevent fires from spreading. 2 The Company is in the development stage and has not generated any revenue. The Company needs capital to implement its business plan. The Company will attempt to raise capital through the private sale of its common stock or other securities. General As of March 31, 2010, the Company had two part time employees. The Company does not have a website. ITEM 2. DESCRIPTION OF PROPERTY As of March 31, 2010 the Company did not own any tangible property. ITEM 3. LEGAL PROCEEDINGS. The Company is not involved in any legal proceedings and the Company does not know of any legal proceedings which are threatened or contemplated. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. Not Applicable. ITEM 5. MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANT'S COMMON EQUITY AND OTHER SHAREHOLDER MATTERS. Between June 12, 2008 and January 21, 2010 the Company's common stock was quoted on the OTC Bulletin Board under the symbol "DBLT". On January 21, 2010, and in connection with the Company's name change, the Company's trading symbol was changed to "EPRO". During the year ended December 31, 2009 the Company's common stock did not trade. Trades of the Company's common stock are subject to Rule 15g-9Section 21E of the Securities Exchange Act of 1934, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements, including statements about our business strategy, the effect of Generally Accepted Accounting Principles ("GAAP") pronouncements, uncertainty regarding our future operating results and our profitability, anticipated sources of funds and all plans, objectives, expectations and intentions and the statements regarding future potential revenue, gross margins and our prospects for fiscal 2009. These statements appear in a number of places and can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "future," "intend," or "certain" or the negative of these terms or other variations or comparable terminology, or by discussions of strategy.

Actual results may vary materially from those in such forward-looking statements as a result of various factors that are identified in "Item 1A.—Risk Factors" and elsewhere in this document. No assurance can be given that the risk factors described in this Annual Report on Form 10-K are all of the factors that could cause actual results to vary materially from the forward-looking statements. References in this Annual Report on Form 10-K to (i) the "Company," the "Registrant," "Bio-Carbon "we," "our," “BICS,” and "us" refer to Bio-Carbon Solutions International Inc

Investors and security holders may obtain a free copy of the Annual Report on Form 10-K and other documents filed by Bio-Carbon Solutions International Inc. with the Securities and Exchange Commission ("SEC") at the SEC's website at http://www.sec.gov. Free copies of the Annual Report on Form 10-K and other documents filed by Bio-Carbon Solutions International Inc. with the SEC may also be obtained from Bio-Carbon Solutions International Inc. by directing a request to Bio-Carbon Solutions International Inc., Attention: Dr. Luc C. Duchesne-103 Metig Street, Sault Ste Marie, Ontario, Canada P6A 2Z5.

ITEM 1

BUSINESS.

General

NSU Resources Inc. (“The Company”) is a development stage company incorporated on January 17, 2007, under the laws of the State of Nevada. The principal offices are located at 500 Gran Street, Sault Ste Marie, Ontario, Canada P6A 2Z5. The telephone number is (705) 253-0339. The Company has never declared bankruptcy, it has never been in receivership, and it has never been involved in any legal action or proceedings. Our fiscal year end is December 31st.

Description of Business

The Company’s business plan and objective is to use its licensed intellectual property to provide services and capitalize on opportunities relating to renewable energy services, carbon trading, carbon sequestration, and other greenhouse gas emission control, offset and reduction programs worldwide

Employees

Currently there are only two employees of the Company, whom also serve as directors of the Company; however, several other employees will be needed to implement the Company’s business plan. To that end, and in anticipation of a growing work force, a stock option plan for the Company’s Common Stock has been prepared and accepted by the Board of Directors.

Research and Development Expenditures

Since the time of our incorporation we have not incurred any research or development expenditures.

Business Strategy

NSU Resources, Inc. is a mineral exploration and carbon development company. Our mission is to become a vertically integrated provider ofRare Earth Elements using carbon solutions. We are targeting growth from the acquisition of mineral and carbon rights worldwide.

Our strategic growth plan:

- Develop proven NI 43-101 compliant ore inventories from high quality properties with potential for providing topside ore of good quality, have access to cost-effective energy sources, and easy access to qualified labor;

- Develop and/or secure tenure on novel cost-effective and environmentally friendly methodologies for the extraction and purification of Rare Earth Elements;

- Develop B2B relationships with users of Rare Earth Elements metals through the Company's extensive contacts in the renewable energy industry;

- Apply the company's technologies to ore extracted from other mining complexes;

- Use cashflow from the sales of products to further develop the company's own mining projects; and,

- Create carbon neutral solutions to the mining and renewable energy supply chain.

From Q1-2012 to Q4-2013 NSU Resources, Inc will pursue expansion in the form of various acquisitions that are pertinent to its strategic vision for aggressive growth. Specific deliverables include and are not limited to:

1. The creation of a business plan for the exploitation of Rare Earth Elements from its 4,200 acres of rare earth claims in the Cobequid Fault Area of Nova Scotia, Canada. Said claims are adjacent to or in the vicinity of claims or exploration projects by other mineral exploration companies in the Cobequid Highlands. Reports of the occurrence of Rare Earth Elements have been made with the Nova Scotia Ministry of Natural Resources by exploration companies in the vicinity. Rare Earth Elements are experiencing rapidly increasing demand for use in green technologies from consumer electronics, electric and hybrid vehicles and power storage for alternative energy sources such as wind and solar. For example the emergence of third generation solar cells with multispectral capabilities and with >40% efficiencies will create significant growth possibilities for the industry. Companies with Rare Earth Elements are re-emerging as a strategic investment opportunity. The first wave started in early 2010 when China began rationing its export of Rare Earth Elements, which led to the emergence of junior miners in the Rare Earths Elements industry.

2. The completion and proving of its technology for the extraction of rare earth minerals using a combination of methodologies that were first developed for the purification of rare chemicals from living tissues. The most exciting aspect on the discovery of Rare Earth Ore minerals in the Cobiquid fault area is the ratio between Heavy Rare Earth Ores (HREO) to the Light Rare Earth Ores (LREO). This is especially significant considering the much greater market value of HREO as compared to LREO. In almost all analyses of the closely related site of Debert Lake the ratio was near or greater than 50% (From Sears 2011). The high levels of HREO over LREO suggests that that a mining venture might be economically feasible, provided the costs of ore extraction are in line with the costs of competing mines. The company plans to adapt, prove and patent its unique rare earth extraction process for the ores specifically found in the Cobequid Highlands of Nova Scotia.

3. The demonstration of carbon neutral approaches for the mining sector despite the current lackluster interest in carbon trading schemes, there is still regional interest in Cap and Trade, for example through the Western Climate Initiative. This will permit to augment the yield from Rare Earth Element extraction projects and other mining projects.

The company was initiated as a provider of carbon offset development solutions (accounting, measuring, reporting, verification and registration) to:

· Companies with the need to model, monitor and report their carbon footprints;

· Its own carbon offset development projects—the company targets developing 1,000,000 hectares from 2011-2016; As a part of this undertaking the company acquired the mineral rights to 4200 acres of forested lands in the Cobequid Highlands of Colchester County, Nova Scotia in which rare earth elements have been reported.

· Companies that emit greenhouse gases and are seeking cost-effective carbon offsets—see below the extensive lists of potential greenhouse gases emitters that are subjected to reporting and cap-and-trade regulations; and,

· Landowners in search of expertise to develop the carbon potential of their properties.

In November 2011, the company acquired a License for a process for the extraction of rare earths elements. This approach is based on the combination of methodologies that combine plant extraction protocols and carbon neutral approaches.

In November 2010, management of the Company identified the need to pursue carbon opportunities because of international and North American markets in the carbon economy. Namely, carbon offsets are identified registered and/or traded through a number of methodologies/venues (see below) and can be either voluntary or mandated. For example, in Europe large emitters are subjected to the European Emissions Trading System which is a result of the EU entering into the Kyoto Protocol. In North America, 7 states of the USA and 4 Canadian provinces are members of the Western Climate Initiative. Of these regulated cap and trade systems are taking place in California and British Columbia. The Company plans to generate revenues from the exploitation of its two licenses: the Lacey Holdings which it entered on November 4, 2010 and the 1776739 License which it entered on January 14, 2011.

The company’s Lacey Holdings license permits us to calculate carbon offsets from the business activities of emitters, which we see as a significant consulting activity. For example, under the Western Climate Initiative,California’s large industrial entities, including refineries, cement plants, and chemical plants, must report on their emissions starting in 2012 if they emit more than 25,000 MT CO₂e per year. Likewise CO₂ suppliers are covered entities to the extent that they supply more than 25,000 tons of CO₂ per year. Electricity suppliers and generators are also covered entities during the initial phase of the Program.Under WCI’sFinal Essential Requirements of Mandatory Reportinga large number of greenhouse gas emitters will need to report their emissions. The GHGs that must be reported under this rule are carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFC), perfluorocarbons (PFC), and hexafluoride (SF Sulfur 6) by:

1. Any facility that emits 10,000 metric tons CO2e or more per year, in combined emissions from one or more of the following source categories ,in any calendar year starting in 2010. Of these,

· Adipic acid manufacturing

· Aluminum manufacturing

· Ammonia manufacturing

· Carbon dioxide transfer recipients

· Cement manufacturing

· Coal mine fugitive emissions

· Coal storage

· Cogeneration

· Electricity generation

· Electronics Manufacturing

· Ferroalloy production

· General stationary fuel combustion

· Glass Production and other uses of carbonates

· HCFC-22 production

· Hydrogen production

· Industrial wastewater

· Iron and steel manufacturing

· Lead production

· Essential Requirements of Mandatory Reporting

· Lime manufacturing

· Magnesium production

· Natural gas transmission and distribution systems

· Nitric acid manufacturing

· Nonroad equipment at facilities

· Oil and gas production & gas processing

· Petrochemical production

· Petroleum refineries

· Phosphoric acid production

· Pulp and paper manufacturing

· Refinery fuel gas

· SF6 from electrical equipment

· Soda ash manufacturing

· Zinc production

2. All importers of electricity. Importers of electricity include both retail providers and marketers that import electricity into the WCI region.

3. Any supplier that within the WCI region distributes transportation fuels in quantities that when combusted would emit 10,000 metric tons CO_2e per year or more, in any calendar year starting in 2010.

4. Any supplier that distributes, within the WCI region, residential, commercial, and industrial fuels in quantities that when combusted would emit 10,000 metric tons CO_2eper year or more, inany calendar year starting in 2010.

The technology acquired from Lacey Holdings can be offered to various consulting clients, for example, in assessing the life cycle analysis of different biomass options for the displacement of coal: assessing the carbon footprint of wood biomass, emissions from the combustions municipal solid refuse, emissions from forested, aquatic or agricultural ecosystems or methane emission from coal beds. This technology is derived from a number of scholarly papers that have been authored or co-authored by Dr Luc C Duchesne who is a director of the Company and Director of Ontario 1776729 which is referenced in this section under a separate license agreement. Here is a selected list of scholarly papers which served in the construction of the intellectual property underlying the Lacey Holdings License: 1. WETZEL, S., L. C. DUCHESNE and M. LAPORTE. 2007. Bioproducts from Canada’s forests: new partnerships in the bioeconomy. Springer. 2. ZASADA, J.C., C.W. SLAUGHTER, L.C. DUCHESNE and A.G. GORDON. 1997. Ecological considerations for the North American Boreal forest. International Institute for Applied Systems Analysis, Laxenburg Austria. Pub. No. IR-97-024. 3. LAPORTE, M.F., L. C. DUCHESNE and S. WETZEL. 2003. Effect of rainfall patterns on soil surface CO₂ efflux, soil moisture, soil temperature and plant growth in a grassland ecosystem of northern Ontario, Canada: implications for climate change. Biomed Central Ecology,2: 10-16. 4. TROFYMOW, J.A., T.R. MOORE, B. TITUS, C. PRESCOTT, I. MORRISON, M. SILTANEN, S. SMITH, J. FYLES, R. WEIN, C. CAMIRE. L.C. DUCHESNE, L. KOZAK, M. KRANANBETTER and S. VISSER. 2002. Rates of litter decomposition over six years in Canadian forests: Influence of litter quality and climate. Canadian Journal of Forest Research,32: 789-804. 5.LAPORTE, M., L.C. DUCHESNE and I. K. MORRISON. 2002. Effect of clearcutting, selection cutting, shelterwood cutting and micro-sites on soil respiration in a tolerant hardwood ecosystem of northern Ontario. Forest Ecology and Management,174: 565-575. 6. DUCHESNE, L.C. and D.W. LARSON. 1989. Cellulose and the evolution of plant life. Bioscience,39: 238-241. 7.PRESTON, C.M., J.A. TROFYMOW and L.C. DUCHESNE. 2000. Variability in litter quality and its relationship to litter decay in Canadian forests. Canadian Journal of Botany,78: 1269-1287. 8.DUCHESNE, L.C. and S. WETZEL. 2000. Effect of clear-cutting, prescribed burning and scarification on litter decomposition in an Eastern Ontario jack pine (Pinusbanksiana) ecosystem. International Journal of Wildland Fire,9:195-201. 9. MOORE, T.J., J. A. TROFYMOW, B. TAYLOR, C. PRESCOTT, C. CAMIRE, L.C. DUCHESNE, J. FYLES, L. KOZAK, M. KRANABETTER, I. MORRISON, M. SILTANEN, S. SMITH, B. TITUS, S. VISSER, R. WEIN and S. ZOLTAI. 1999. Litter decomposition rates in Canadian forests. Global Change Biology,5: 75-82.

The Lacey Holdings Licence was originally purchased from Dr. Duchesne by Lacey Holdings Inc which is a private company owned exclusively by Mr Christopher Skinner. Mr. Wilkes, as CEO of Elemental Protective Coatings, while scoping business potential for the Company, identified the Lacey Holdings license as a business opportunity. Furthermore, as management delved into the carbon market and with the emergence of supporting cap-and-trade legislation in California, it became evident that engaging in carbon development projects also offered new business opportunities. Consequently, the business improved its business plan and made the acquisition of the 1776729 license which permits a greater offering of services than the Lacey Holdings Inc license. Mr. Duchesne is not a shareholder or a director of Lacey Holdings or related to the only shareholder, officer or director of Lacey Holdings Inc. There is no relationship between Lacey Holdings, the directors of the Company or its management.

Whereas the Lacey Holdings Licence permits to measure carbon emissions, the 1776729 License agreement permits to develop carbon offset credits for the purpose of taking advantage of recent developments showing that the regulated carbon market is emerging in North Americadespite the lack of support by the United States Government and the Canadian Government who refuse to ratify the Kyoto Protocol, States and provincial jurisdictions are actively engaged in Cap-and-Trade efforts through the Western Climate Initiative (WCI).

The WCI Partner jurisdictions have developed a comprehensive strategy to reduce regional GHG emissions to 15 percent below 2005 levels by 2020. The figure below shows that 4 Canadian provinces (British Columbia, Manitoba, Ontario and Quebec) and 7 states in the USA (Washington, Oregon, California, Arizona, New Mexico, Montana, Utah) are members of the Western Climate Initiative. In addition 16 States/provinces of Canada, the USA and Mexico enjoy observer status in the Western Climate Initiative, which means they are interested but undecided as of yet.

In Canada, British Columbia spearheads Cap-and-Trade efforts. In November 2010, British Columbia posted itsDraft Protocol for Forest Carbon Sequestration from Forests making it the most advanced jurisdiction member of the WCI in Canada. British Columbia is the first Canadian province with a Cap-and-Trade legislation. In the USA, California spearheads the efforts of Cap-and-Trade under the Western Climate Initiative with numerous protocols and methodologies published under The Climate Action Reserve registry. In December 2010, California, a member of the Western Climate Initiative, has legislated that carbon offsets from forests are a part of its Cap-and-Trade system. California produces roughly 1.4 percent of the worlds, and 6.2 percent of the total U.S. greenhouse gases. This has two significant consequences that create a business case for the development of carbon credits from Canadian forests:

1. Under the Western Climate Initiative, credits can be traded between province and member state –see insert below; Fromwww.westernclimateinitiative.org/component/remository/general/program-design/Design-Summary/ page 6:

1. The WCI Cap-and-Trade Program will be composed of the individual jurisdictions’ cap-and-trade programs implemented through state and provincial regulations. Each WCI Partner jurisdiction implementing the cap-and-trade program design will issue “emission allowances” to meet its jurisdiction-specific emissions goal. The total number of available allowances serves as the “cap” on emissions. The allowances can be bought and sold (“traded”). A regional allowance market is created by the Partner jurisdictions recognizing one another’s allowances for compliance. Through this recognition, the emissions allowances issued by each jurisdiction will be usable throughout the jurisdictions for compliance purposes. We note that carbon offset vary in quality as reviewed in “FOREST CARBON OFFSETS: A Scorecard for Evaluating Project Quality” by Julie L. Beane, John M. Hagan, Andrew A. Whitman, John S. Gunn. 2008. Manomet Center for Conservation Sciences. #MCCS NCI 2008, which heightens the needs for a rigorous, approach to the development of carbon offsets from forests.

Management feels that it might be difficult for California emitters to meet their regulated carbon requirements without having to purchase carbon offsets from Canada. According to the Climate Action Reserve’s projections, the projects currently under approval have just under 30 million tons of credits in the pipeline through 2014 that could be used in the California program. Yet the demand for total reduction requirements is projected to exceed 230 million tons between 2012 through 2020 in California alone. Of these, 8% are allowable from forests. The Company believes that emitters will attempt to fill the offset supply gap which will greater demand pressure on the price point of carbon and also stimulate carbon forest sequestration projects from other jurisdictions of the WCI.

More precisely the 1776729 License provides the Company with the means to engage in carbon development as the license is based on 1: Knowledge of and/or relationships with technology providers in various manufacturing sectors who own technologies that can be used by carbon emitters to meet emission reduction requirements; 2. Knowledge of and/or relationships with land owners in various countries with interests in providing land bases for the development of biological sequestration offset credits to meet emission reduction requirements; 3. Knowledge of and/or relationships with financial institutions with interest in providing capital for the development of carbon sequestration tools or implementation of novel technologies to meet emissions reduction requirements; and, 4. Knowledge of and/or relationships with purchasers of carbon offsets. 1776729 is a holding company which has licensed intellectual property from GSN Dreamworks Inc.

The Company does not currently engage in any business activities that may provide immediate cash flow. We expect to incur expenses without generating any material revenues for the foreseeable future. We anticipate the need to raise funds to support our operations for the next 12 months.We have not identified any sources of additional funding for our continued operations, nor have we committed to a plan for funding if our current assets prove inadequate. During the next 12 months we anticipate incurring costs related to:

• pursuing business opportunities to obtain engagements from clients for the use of our licensed technology;

• preparing our financial statements and having them reviewed and audited; and

• preparing and filing of Exchange Act reports.

We anticipate that we will be able to meet these costs through use of funds in our treasury; additional amounts, if necessary, to be loaned by, or invested in us by our stockholders, management or other investors. Management has funded operations thus far but there is no guaranty that management will be able support operations definitely.

1. The creation of a business plan from the exploitation of rare earth minerals from its 4,200 acres of rare earth claims in the Cobequid Fault Area of Nova Scotia, Canada. Said claims are adjacent and in the vicinity of claims by other mineral exploration companies in the Cobequid Highlands and reports of rare earths have been made with Nova Scotia Ministry of Natural Resources by exploration companies in the vicinity. Rare Earth Metals are experiencing rapidly increasing demand for use in green technologies from consumer electronics to electric and hybrid vehicles to power storage for alternative energy sources such as wind and solar. For example the emergence of third generation solar cells with multispectral capabilities and with 40% efficiencies will create significant growth possibilities for the industry. Companies with Rare Earth Elements are re-emerging as a strategic investment opportunity. The first wave started in early 2010 when China began rationing its export of REE, which led to the emergence of junior miners in the REE industry. The next wave of opportunity in the REE industry is predicated on companies being able to process and purify mineral deposits through the development of leading-edge extraction technologies. As such, REE companies now have to straddle mineral exploitation and R & D. With the strong and proven expertise of our management team we have positioned the company to meet this unique challenge.

2. The completion and proving of its technology for the extraction of rare earth minerals using a combination of methodologies that were first developed for the purification rare chemicals from living tissues.The most exciting aspect on the discovery of Rare Earth Ore minerals in the Cobiquid fault area is the ratio between Heavy Rare Earth Ores (HREO) to the Light Rare Earth Ores (LREO). This is especially significant considering the much greater market value of HREO as compared to LREO. In almost all analyses of the closely related site of Debert Lake the ratio was near or greater than 50% (From Sears 2011). The high levels of HREO over LREO suggests that that a mining venture might be economically feasible, provided the costs of ore extraction are in line with the costs of competing mines. Indeed HREO are of greater commercial values than LREO. From Q1-2012 to Q4-2013 the company plans to adapt, prove and patent its unique rare earth extraction technologies for the ores specifically found in the Cobequid Highlands of Nova Scotia.

3. The demonstration of carbon neutral approaches for the mining sector despite the current lackluster interest in carbon trading schemes, there is still regional interest in Cap and Trade, for example through the Western Climate Initiative. This will permit to augment the yield from rare earth extraction projects and other mining projects. We intend to create strategic alliances with technology providers for adapting various energy saving or carbon sequestration technologies to permit greater economic yields for the mining sector. When licensed such technologies and approaches will be applicable to the mining industry in general.

Investors must be aware that we have not begun significant operations and we have not generated any revenue. We currently have minimal funds available and in order to continue our business plan we must raise additional proceeds. We will likely be required to borrow proceeds from a shareholder in order to pay expenses associated with filing this report. We cannot provide any guarantee will be successful in securing adequate proceeds in the future and failure to do so would result in a complete loss of any investment made into the Company.

Competitive Business Conditions

Carbon trading is a commercial activity that is regulated by specific jurisdictions pursuant to regional legislation or can be voluntary. When regulated (Eg. Europe and Western Climate Initiative), governments compel polluters to reduce their greenhouse gas emissions through technological improvements or through the purchase of carbon offsets (carbon credits). It is an identified risk factor that new legislation may arise in certain jurisdictions that may render the Company’s business plan and knowledge obsolete with respect to carbon credits. With respect to the voluntary trade of carbon credits, there is a significant risk that certain voluntary purchasers of carbon credits may elect to cease the purchase of carbon credits for various reasons that are inherent to their business plans, or because of changing economic, political contexts or other conditions that cannot be controlled by the management of the Company.

Patents and Trademarks

We have no patents or trademarks.

Governmental Regulation

See “Competitive Business Conditions.”

Reports to Security Holders

We file our quarterly and annual report with the Securities and Exchange Commission (SEC), which the public may view and copy at the Public Reference Room at 100 F Street, N.E. Washington D.C. 20549. SEC filings, including supplemental schedule and exhibits, can also be accessed free of charge through the SEC website www.sec.gov.

ITEM 1A

RISK FACTORS

Factors Affecting Future Operating Results

This Annual Report on Form 10-K contains forward-looking statements concerning our future programs, expenses, revenue, liquidity and cash needs as well as our plans and strategies. These forward-looking statements are based on current expectations and we assume no obligation to update this information, except as required by applicable laws and regulations. Numerous factors could cause actual results to differ significantly from the results described in these forward-looking statements, including the following risk factors.

Because our auditors have issued a going concern opinion, there is substantial uncertainty we will continue activities in which case you could lose your investment.

Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an ongoing business for the next twelve months. As such we may have to cease activities and you could lose your investment.

We currently do not have adequate funds to cover the costs associated with maintaining our status as a Reporting Company.

The Company currently has no cash available. This amount will not be enough to pay the legal, accounting, and filing fees that is required to maintain our status as a reporting company, which is currently estimated at $20,000 for fiscal year 2011. If we can no longer be a reporting company our common stock would no longer be eligible for quotation on the Over-the-Counter Bulletin Board. This would result in there being no public market for an investor to trade our common stock and any investment made would be lost in its entirety.

We lack an operating history and have losses which we expect to continue into the future. As a result, we may have to suspend or cease activities, which would result in a complete loss of any investment made into the Company.

We were incorporated on January 17, 2007 and we have not started our proposed business activities or realized any revenues. We have no operating history upon which an evaluation of our future success or failure can be made. As of December 31, 2011 our net loss since inception is $2,437,139. Based upon current plans, we expect to incur operating losses in future periods. As a result, we may not generate revenues in the future. Failure to generate revenues will cause us to suspend or cease activities.

If we are able to complete financing through the sale of additional shares of our common stock in the future, then shareholders will experience dilution.

The most likely source of future financing presently available to us is through the sale of shares of our common stock. Any sale of common stock will result in dilution of equity ownership to existing shareholders. This means that if we sell shares of our common stock, more shares will be outstanding and each existing shareholder will own a smaller percentage of the shares then outstanding. To raise additional capital we may have to issue additional shares, which may substantially dilute the interests of existing shareholders. Alternatively, we may have to borrow large sums, and assume debt obligations that require us to make substantial interest and capital payments.

Because there is currently a limited public trading market for our common stock, you may not be able to resell your stock.

Although our common stock is quoted on the Over-the-Counter Bulletin Board (OTCBB) the market is limited. If a market does not develop there would be no central place, such as stock exchange or electronic trading system to resell your shares.

Because our securities are subject to penny stock rules, you may have difficulty reselling your shares.

Our shares are penny stocks are covered by section 15(g) of the Securities Exchange Act of 1934 which imposes ~~certain~~additional sales practice requirements on broker/dealers who sell the Company's securities ~~subject to~~including the ~~rule to persons other than established customers~~delivery of a standardized disclosure document; disclosure and ~~accredited investors.~~confirmation of quotation prices; disclosure of compensation the broker/dealer receives; and, furnishing monthly account statements. For ~~transactions covered by~~sales of our securities, the ~~rule, brokers/dealers~~broker/dealer must make a special suitability determination and receive from its customer a written agreement prior to making a sale. The imposition of the foregoing additional sales practices could adversely affect a shareholder's ability to dispose of his stock.

We are subject to the requirements of section 404 of the Sarbanes-Oxley Act. If we are unable to timely comply with section 404 or if the costs related to compliance are significant, our profitability, stock price and results of operations and financial condition could be materially adversely affected.

We are required to comply with the provisions of Section 404 of the Sarbanes-Oxley Act of 2002, which require us to maintain an ongoing evaluation and integration of the internal controls of our business. We were required to document and test our internal controls and certify that we are responsible for maintaining an adequate system of internal control procedures for the year ended December 31, 2011. In subsequent years, our independent registered public accounting firm will be required to opine on those internal controls and management’s assessment of those controls. In the process, we may identify areas requiring improvement, and we may have to design enhanced processes and controls to address issues identified through this review.

We evaluated our existing controls for the year ended December 31, 2011. Our Chief Executive Officer and Chief Financial Officer identified material weaknesses in our internal control over financial reporting and determined that we did not maintain effective internal control over financial reporting as of December 31, 2011. The identified material weaknesses did not result in material audit adjustments to our 2011 financial statements; however, uncured material weaknesses could negatively impact our financial statements for subsequent years.

We cannot be certain that we will be able to successfully complete the procedures, certification and attestation requirements of Section 404 or that our auditors will not have to report a material weakness in connection with the presentation of our financial statements. If we fail to comply with the requirements of Section 404 or if our auditor’s report such material weakness, the accuracy and timeliness of the filing of our annual report may be materially adversely affected and could cause investors to lose confidence in our reported financial information, which could have a negative effect on the trading price of our common stock.

In addition, a material weakness in the effectiveness of our internal controls over financial reporting could result in an increased chance of fraud and the loss of customers, reduce our ability to obtain financing and require additional expenditures to comply with these requirements, each of which could have a material adverse effect on our business, results of operations and financial condition.

Further, we believe that the out-of-pocket costs, the diversion of management’s attention from running the day-to-day operations and operational changes caused by the need to comply with the requirements of Section 404 of the Sarbanes-Oxley Act could be significant. If the time and costs associated with such compliance exceed our current expectations, our results of operations could be adversely affected.

There may be conflicts of interest between our management and our non-management stockholders.

Conflicts of interest create the risk that management may have an incentive to act adversely to the interests of other investors. A conflict of interest may arise between our management's personal financial interests and the fiduciary duty to our stockholders. Further, our management's own financial interests may at some point compromise their fiduciary duty to our stockholders. Luc Duchesne and Robert Cormier, who are the Company’s sole officers and a majority of its directors, continue to be involved in businesses that operate and commercialize technologies that are similar or related to the Company’s, although those businesses exploit and seek to exploit different applications and opportunities. In addition, although it is anticipated that these individuals will spend significant time and effort developing our business, it is possible that they will be exposed to business or employment opportunities that would conflict with the interests of the Company, or cause them to reduce their efforts on the Company’s behalf or to entirely cease working with the Company. If we and any other businesses with which our officers are involved wish to take advantage of the same opportunity, then the officer and director that is affiliated with both companies would abstain from voting upon the opportunity.

Future success is highly dependent on the ability of management to further develop and implement a business plan, and secure customers.

The nature of our operations is highly speculative and there is a consequent risk of loss of your investment. The success of our activities will depend on the availability of finances, opportunities relating to carbon trading, offset and reduction regimes, greenhouse gas emission reduction programs, government regulations and economic conditions in the forestry and timber industries. As we have no operating history or revenue and only minimal assets, there is a risk that we will be unable to consummate a business combination. The Company has had no recent operating history and no revenues or earnings from operations since inception. We have no significant assets or financial resources. We will, in all likelihood, sustain operating expenses without realizing significant revenues for the foreseeable future, at least until the market opportunities for the Company’s services and technology develops and the demand for our services becomes more proven and regular. This will likely result in our incurring net operating losses for the foreseeable future. We cannot assure that our business will develop as hoped, or that it will become profitable.

Our business may have no revenues for the foreseeable future.

We are a development stage company and have had no revenues from operations. Although the technologies offer potential, we may not realize any revenues unless and until we successfully develop a revenue stream from the use of the Lacey Holdings and the 1776729 licenses.

We may issue more shares to raise additional capital, and permit the development of the Company’s business.

As a result, the shareholdings of current shareholders may be diluted. Our Articles of Incorporation authorizes the issuance of a maximum of 275,000,000 shares of common stock. We may issue additional shares from time to time to raise the capital that we anticipate will be required to further develop our business. Any share issuance would be subject to compliance with applicable securities laws and subject to that limitation, unless our Articles of Incorporation are amended with approval of our stockholders. The Company’s issuance of additional shares may be accomplished without stockholder approval. This may result in substantial dilution in the percentage of our common stock held by our then existing stockholders. Moreover, the common stock issued from time to time may be valued on an arbitrary or non-arm’s-length basis by our management, resulting in an additional reduction in the percentage of common stock held by our then existing stockholders. Our Board of Directors has the power to issue any or all of such authorized but unissued shares without stockholder approval. To the extent that additional shares of common stock or preferred stock are issued, dilution to the interests of our stockholders will occur and the rights of the holders of common stock might be materially and adversely affected.

There is limited public market for our Common Stock, and we have never paid dividends on our Common Stock.

There is limited public trading market for our common stock which is listed on OTCQB: BICS and none is expected to develop until our business develops further. Additionally, we have never paid dividends on our common stock and do not presently intend to pay any dividends in the foreseeable future. We anticipate that any funds available for payment of dividends will be re-invested into the Company to further its business strategy. Moreover, a significant number of unregistered securities may not become traded. Pursuant to the Securities Act of 1933, as amended (the “Securities Act”) and any other applicable securities laws or regulations these restrictions will limit the ability of our stockholders to liquidate their investment.

Carbon trading may become obsolete.

Mineral claims may prove non commercial

Although we have acquired options to mineral rights for properties in Nova Scotia, there is a possibility that the claims do not contain ores of commercial values either because of non economical mineral content, inability to secure financing, inability to secure permitting, inability to extract the minerals economically or any combination of these factors acting in concert.

Limited Operating History; Need for Additional Capital.

Although the Company draws on the expertise on the principals who have been operating private businesses for some time in the renewable energy and forestry sectors, there is no pertinent historical financial information for the Company upon which to base an evaluation of our performance. Our assets and business have not yet generated substantial or recurring revenues. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services. We will require additional financing to cover costs that we expect to incur over the next twelve months. We believe that debt financing will not be an alternative for funding our operations as we do not have tangible assets to secure any debt financing. We anticipate that additional funding will be in the form of equity financing from the sale of our common stock or other securities. However, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operations. In the absence of such financing, we will not be able to continue and our business plan will fail.

Our common stock is subject to the "penny stock" rules of the SEC and the trading market in our securities is limited, which makes transactions in our stock cumbersome and may reduce the value of an investment in our stock.

The Securities and Exchange Commission has adopted certain rules under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are applicable to "penny stocks". For the purposes relevant to us, a “penny stock” is any equity security that has a market price of less than $5.00 per share or has an exercise or conversion price of less than $5.00 per share, subject to certain exceptions, constitutes a "penny stock". For any transaction involving a penny stock, unless exempt, the rules require:

that a broker or dealer approve a person's account for transactions in penny stocks;

the broker or dealer receive from the ~~purchaser's~~investor a written agreement to the transaction, setting forth the identity and quantity of the penny stock to be purchased; and

that a broker or dealer provide certain detailed market information about the market for the applicable company’s securities.

In order to approve a person's account for transactions involving penny stocks, the broker or dealer must:

obtain financial information, investment experience and investment objectives of the person; and

make a reasonable determination that the proposed transactions in penny stocks are suitable for that person and the person has sufficient knowledge and experience in financial matters to be capable of evaluating the risks of transactions in penny stocks.

The broker or dealer must also deliver, prior to sale. The Securities and Exchange Commission also has rules that regulate broker/dealer practices in connection with transactions in "penny stocks". Penny stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in that security is provided by the exchange or system). The penny stock rules require a broker/ dealer, prior to aany transaction in a penny stock, ~~not otherwise exempt from the rules, to deliver~~ a ~~standardized risk~~ disclosure ~~document~~schedule prepared by the ~~Commission that provides information about penny stocks and the nature and level of risks in~~SEC relating to the penny stock ~~market. The broker/~~market, which, in highlight form:

sets forth the basis on which the broker or dealer ~~also~~made the suitability determination; and

that the broker or dealer received a signed, written agreement from the investor prior to the transaction.

Following a transaction, monthly statements must ~~provide the customer with current bid 3~~ ~~and offer quotations~~be sent disclosing recent price information for the ~~penny stock, the compensation of the broker/dealer and its salesperson in the transaction, and monthly account statements showing the market value of each~~ penny stock held in the ~~customer's account. The bid~~account and ~~offer quotations, and~~information on the ~~broker/dealer and salesperson compensation information, must~~limited market in penny stocks.

Generally, brokers may be ~~given~~less willing to execute transactions in securities subject to the ~~customer orally or in writing prior~~"penny stock" rules. This may make it more difficult for investors to ~~effecting the transaction and must be given to the customer in writing before or with the customer's confirmation. These disclosure requirements may have the effect~~dispose of ~~reducing the level of trading activity in the secondary market for the Company's common stock. As of March 31, 2010, the Company had 13,300,000 outstanding shares of~~our common stock and ~~30 shareholders~~depress the market value of ~~record. Holders~~our stock.

There are additional risks of investing in penny stocks whether in public offerings or in secondary trading, relating to commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies available to an investor in cases of fraud in penny stock transactions.

TEM 1B

UNRESOLVED STAFF COMMENTS

None

ITEM 2

PROPERTIES.

We do not own any property; the principal offices are located at 500Gran Street, Sault Ste Marie, Ontario P6A 5K9. The telephone number is (705) 253-0039. The website is www.nsuresources.com.

ITEM 3

LEGAL PROCEEDINGS.

NSU Resources Inc is not currently a party to any legal proceedings. The Company’s agent for service of process in Nevada is Sharon D. Mitchell

ITEM 4

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None

PART II

ITEM 5

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

Our common stock is quoted on the Over-the-Counter Bulletin Board (OTCBB) under the ticker symbol BICS. The stock trades are ~~entitled to receive~~limited and sporadically; there is no established public trading market for our common stock.

Dividends

We did not declare or pay dividends ~~as may be declared by~~during the ~~Board of Directors. The Company's Board of Directors is~~Fiscal Year 2011 and do not ~~restricted from~~anticipate declaring or paying ~~any~~ dividends ~~but is not obligated to declare a dividend. No dividends have ever been declared and it is not anticipated that dividends will ever be paid.~~ in fiscal year 2012.

Securities Authorized for Issuance under Equity Compensation Plans

In ~~October 2009,~~January 2011, the Company ~~purchased 43,000,000~~ adopted a Stock Option Incentive Plan. Pursuant to the Plan, the Company may grant stock option awards to employees and contractors as compensation for services rendered on behalf of the Company. The Company issued 5,000,000 options exercisable at $0.75 with an expiration date of December 31, 2012. Said options have expired.

Recent Sales of Unregistered Securities

There were no sales of unregistered securities in 2011.

Securities issued in 2011

During the year ended December 31, 2011, the Company issued a total of126,777,778shares of its common stock, ~~from two former officers~~3,388,889 to Mr Gilles Trahan in ~~a private transaction. These shares were subsequently cancelled. In November 2009, the two former officers collectively sold 7,000,000~~exchange to past debt, 3,388,889 to Mr Martin Baldwin for his past debt. 20,000,000 shares of ~~the Company's~~its common stock to1776729 Ontario Corporation in exchange for a technology license for the extraction of rare earth elements valued at $2000. 4,000,000 shares to 1776729 Ontario Corporation in exchange for a technology license for carbon accounting valued at $15,000.

ITEM 6

SELECTED FINANCIAL DATA.

Summary of Financial Data

	December 31, 2011

Revenues	$	-

Operating Expenses	$	66,924

Earnings (Loss)	$	(6,958	)

Total Assets	$	-

Liabilities	$	98,814

Stockholders’Deficit	$	(71,814)

ITEM 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following discussion is intended to assist in the understanding and assessment of significant changes and trends related to the ~~Company's current officers. See Item 1~~results of operations and financial condition of Bio-Carbon Solutions International Inc. This discussion and analysis should be read in conjunction with our financial statements and notes thereto included elsewhere in this ~~report~~Annual Report on Form 10-K for ~~further information. With~~ the ~~exception of the foregoing, during the~~fiscal year ended December 31, ~~2009, none~~2011.

Critical Accounting Policies

The preparation of our consolidated financial statements and notes thereto requires management to make estimates and assumptions that affect the ~~Company's officers or directors, nor any of~~amounts and disclosures reported within those financial statements. On an ongoing basis, management evaluates its ~~principal shareholders, purchased any shares of~~estimates, including those related to revenue recognition, contingencies, litigation and income taxes. Management bases its estimates and judgments on historical experiences and on various other factors believed to be reasonable under the ~~Company's common stock~~circumstances. Actual results under circumstances and conditions different than those assumed could result in differences from ~~third parties in a private transaction or as a result of purchases~~the estimated amounts in the open market. ITEM 6. SELECTED FINANCIAL DATA Not applicable. ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATION The Company was incorporated in January 2007. The Company is in the development stage and asfinancial statements. There have been no material changes to these policies during fiscal 2010. As of ~~March~~December 31, 2010 ~~has never generated any revenue. Since its inception,~~ the Company has ~~financed its operations through~~not identified any critical estimates that are used in the ~~private sale~~preparation of ~~its common stock. The Company does~~the financial statements.

Plan of Operations

Liquidity and Capital Resources.At the end of fiscal year 2010 we had no cash on hand and we had liabilities of $179,282. We must secure additional funds in order to continue our business. We will be required to secure a loan to pay expenses relating to filing this report including legal, accounting and filing fees. We believe that we will be able to obtain this loan from a current shareholder of the Company; however we cannot provide any assurance that we will be able to raise additional proceeds or secure additional loans in the future to cover our expenses related to maintaining our reporting company status (estimated at $20,000 for fiscal year 2011). Furthermore, there is no guarantee we will receive the required financing to complete our business strategies; we cannot provide any assurance that future financing will be available to us on acceptable terms. If financing is not ~~have~~available on satisfactory terms, we may be unable to continue, develop or expand our operations. If we are unable to accomplish raising adequate funds then any ~~commitments or arrangements from~~it would be likely that any ~~person to provide~~investment made into the Company would be lost in its entirety.

Results of Operations. We have not begun revenue generatingoperations and as such we have not generated any revenues. Since inception we have incurred a loss of $2,370,181.

Off-Balance Sheet Arrangements. None

Contractual Obligations. None

ITEM 7A

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We do not currently hold any market risk sensitive instruments entered into for hedging transaction risks related to foreign currencies. In addition, we have not entered into any transactions with ~~any additional capital. See Item 1~~derivative financial instruments for trading purposes.

ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

Our financial statements appear beginning on page F-1, immediately following the signature page of this report for information concerning the Company's plan of operation. See Note 2 to the financial statements included as part of this report for a description of the Company's accounting policies and recent accounting pronouncements. 4 ~~ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Not applicable. ITEM 8. FINANCIAL STATEMENTS See the financial statements attached to this~~ report. ~~ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS.~~

On ~~July 20, 2009,~~February 25, 2011, the Company ~~through and~~filed on a Form 8-K/A information detailing agreements entered into with ~~the approval of its Board of Directors, dismissed Moore & Associates, Chartered~~various business partners as well as its ~~independent registered public accounting firm. The reports~~stock option incentive plan.

From

ITEM 9

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

None

ITEM 9A(T)

CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

Management of ~~Moore & Associates on the financial statements of the Company~~NSU Resources Inc is responsible for the two years ended December 31, 2008 did not contain an adverse opinion or disclaimer of opinion nor were the reports qualified or modified as to uncertainty, audit scope or accounting principles. However, the reports of Moore & Associates for those fiscal years were qualified with respect to uncertainty as to the Company's ability to continue as a going concern. During the Company's two fiscal years ended December 31, 2008 and the subsequent interim period ended July 20, 2009, there were no disagreements with Moore & Associates on any matter of accounting principles or practices, financial statementmaintaining disclosure or auditing scope or procedure, which disagreements, if not resolved to Moore & Associates satisfaction, would have caused them to refer to such disagreements in their reports. On July 23, 2009, the Company hired De Joya Griffith & Company, LLC, as its independent registered public accounting firm. Prior to hiring De Joya Griffith & Company, the Company did not consult with De Joya Griffith & Company regarding the application of accounting principles to a specific completed or contemplated transaction or regarding the type of audit opinion that might be rendered by De Joya Griffith & Company on the Company's financial statements, and De Joya Griffith & Company did not provide any written or oral advice that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue. ITEM 9A. CONTROLS AND PROCEDURES The Company maintains a system of controls and procedures that are designed to ensure that information required to be disclosed in the reports ~~filed~~that the Company files or ~~submitted~~submits under the Securities Exchange Act of 1934 ~~as amended ("1934 Act"~~(the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified in the ~~SEC's~~Securities and Exchange Commission’s rules and ~~forms~~forms.

In addition, the disclosure controls and toprocedures must ensure that such information ~~required to be disclosed by the Company in the reports that it files or submits under the 1934 Act,~~ is accumulated and communicated to the ~~Company's~~Company’s management, including its ~~Principal~~Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required ~~disclosure. As~~financial and other required disclosures.

At the end of ~~December 31, 2009,~~ the ~~Company's Principal Executive and Financial Officer evaluated~~period covered by this report, an evaluation of the effectiveness of ~~the design and operation of the Company's~~our disclosure controls and ~~procedures.~~procedures (as defined in Rules 13(a)-15(e) and 15(d)-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”)) was carried out under the supervision and with the participation of our Principal Executive Officer, Principal Financial and Accounting Officer, Luc C. Duchesne. Based on ~~that~~his evaluation ~~the Company's Principal Executive~~of our disclosure controls and ~~Financial Officer~~procedures, he concluded that during the ~~Company's~~period covered by this report, such disclosure controls and procedures were ~~effective. Management's~~not effective to detect the inappropriate application of US GAAP standards. This was due to deficiencies that existed in the design or operation of our internal control over financial reporting that adversely affected our disclosure controls and that may be considered to be “material weaknesses.”

The Company will continue to create and refine a structure in which critical accounting policies and estimates are identified, and together with other complex areas, are subject to multiple reviews by accounting personnel. In addition, the Company will enhance and test our year-end financial close process. Additionally, Bio-Carbon Solutions Internationals’ audit committee will increase its review of our disclosure controls and procedures. Finally, we plan to designated individuals responsible for identifying reportable developments. We believe these actions will remediate the material weakness by focusing additional attention and resources in our internal accounting functions. However, the material weakness will not be considered remediated until the applicable remedial controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively.

Management’s Annual Report on Internal Control over Financial Reporting 5 ~~The Company's~~

Our management is responsible for establishing and maintaining adequate internal control over ~~financial reporting and for the assessment of the effectiveness of internal control over~~our financial reporting. ~~As defined by the Securities and Exchange Commission, internal~~Internal control over financial reporting is a process designed ~~by, or under the supervision of the Company's principal executive officer and principal financial officer and implemented by the Company's Board of Directors, management and other personnel,~~ to provide reasonable assurance to our management and board of directors 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. Our internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect our transactions; (ii) provide reasonable assurance that transactions are recorded as necessary for preparation of our financial statements; (iii) provide reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization; and (iv) provide reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on our financial statements would be prevented or detected on a timely basis.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions may occur or ~~that~~ the degree of compliance with the policies or procedures may deteriorate. ~~The Company's management evaluated~~

Management assessed the effectiveness of ~~its~~our internal control over financial reporting as of December 31, ~~2009~~2010. This assessment is based on the criteria ~~established~~for effective internal control described in Internal Control -— Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway ~~Commission, or the COSO Framework. Management's~~Commission. Based on its assessment, ~~included an evaluation of the design of the Company's~~management concluded that our internal control over financial reporting and testing of the operational effectiveness of those controls. Based on this evaluation, the Company's management concluded that the Company's internal control over financial reporting was effective as of December 31, ~~2009. There~~2010 was ~~no change~~not effective in the ~~Company's~~specific areas described in the “Disclosure Controls and Procedures” section above and as specifically described in the paragraphs below.

As of December 31, 2011 the Principal Executive Officer/Principal Financial Officer identified the following specific material weaknesses in the Company’s internal ~~control~~controls over its financial reporting processes:

• Policies and Procedures for the Financial Close and Reporting Process — Currently there are no policies or procedures that ~~occurred during~~clearly define the ~~quarter ended~~roles in the financial close and reporting process. The various roles and responsibilities related to this process should be defined, documented, updated and communicated. Failure to have such policies and procedures in place amounts to a material weakness to the Company’s internal controls over its financial reporting processes.

• Representative with Financial Expertise — For the year ending December 31, ~~2009~~2010, the Company did not have a representative with the requisite knowledge and expertise to review the financial statements and disclosures at a sufficient level to monitor the financial statements and disclosures of the Company. Failure to have a representative with such knowledge and expertise amounts to a material weakness to the Company’s internal controls over its financial reporting processes.

• Adequacy of Accounting Systems at Meeting Company Needs — The accounting system in place at the time of the assessment lacks the ability to provide high quality financial statements from within the system, and there were no procedures in place or built into the system to ensure that all relevant information is secure, identified, captured, processed, and reported within the accounting system. Failure to have an adequate accounting system with procedures to ensure the information is secure and accurately recorded and reported amounts to a material weakness to the Company’s internal controls over its financial reporting processes.

• Segregation of Duties — Management has ~~materially affected, or is reasonably likely~~identified a significant general lack of definition and segregation of duties throughout the financial reporting processes. Due to ~~materially affect,~~ the ~~Company's~~pervasive nature of this issue, the lack of adequate definition and segregation of duties amounts to a material weakness to the Company’s internal controls over its financial reporting processes.

In light of the foregoing, once we have the adequate funds, management plans to develop the following additional procedures to help address these material weaknesses:

• NSU Resources Inc will create and refine a structure in which critical accounting policies and estimates are identified, and together with other complex areas, are subject to multiple reviews by accounting personnel. In addition, we plan to enhance and test our month-end and year-end financial close process. Additionally, our audit committee will increase its review of our disclosure controls and procedures. We also intend to develop and implement policies and procedures for the financial close and reporting process, such as identifying the roles, responsibilities, methodologies, and review/approval process. We believe these actions will remediate the material weaknesses by focusing additional attention and resources in our internal accounting functions. However, the material weaknesses will not be considered remediated until the applicable remedial controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively.

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. ~~Management's~~Management’s report was not subject to attestation by ~~the Company's independent~~our registered public accounting firm pursuant to temporary rules of the ~~SEC~~Securities and Exchange Commission that permit us to provide only management’s report in this annual report.

This report shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section , and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Changes in Internal Controls

There have been no changes in our internal control over financial reporting that occurred during our fiscal year ended December 31, 2010 that have materially affected, or are reasonable likely to materially affect, our internal control over financial reporting.

ITEM 9B

OTHER INFORMATION.

On January 14, 2011, the Company entered into a License Agreement with 1776729 Ontario Corporation (the “1776729 License”), a privately owned corporation registered under the Laws of Ontario. Pursuant to the 1776729 License, the Company was granted an exclusive, non-transferable, and irrevocable right to develop and commercialize certain intellectual property that will be used in developing carbon credits from forested lands. The intellectual property consists of knowledge pertaining to the registration of carbon offsets or carbon credits from the biological carbon pools contained in ecosystems (mainly forest ecosystems). Carbon assets can then be conveyed into a new form of security, termed carbon credits, which are bought by carbon emitters who are compelled to reduce their carbon emissions through legislation, or carbon emitters who may voluntarily engage in carbon trading for the purpose of increasing their environmental stewardship or for publicity purposes. Under the 1776729 License the Company must pay a royalty of 6 % of its gross annual sales to 1776729. In addition, the Company has agreed to pre-pay the royalty on the first $15,000 of revenue to be earned under the 1776729 License, which will be paid by the issuance of 5,000,000 of the Company’s Common Stock to 1776729 Ontario Corporation (Such stocks were exempted from the reverse stock split effected on January 11, 2011). This permitted the Company to ~~provide only management's report~~further advance business activities by providing carbon development services as well as carbon development of its own projects under plans in addition to carbon accounting services (see Section 2.02).

On January 17, 2011, the Company entered into a Carbon Development Agreement (“CDA”) with Basia Holdings, Inc. (“Basia”), a privately held company incorporated in the State of Tennessee. Under the Basia CDA, the Company has acquired exclusive and irrevocable rights to the development of carbon credit potential on ~~internal control~~a 9,000 acre parcel of heavily forested land in this report. ITEM 9B. OTHER INFORMATION Not applicable. ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS Name Age Position Gilles Trahan 38 President, Chief Executive OfficerGrundy County, Tennessee from which coal exploitation is possible. In the short term, the Company plans to create a business plan for generating carbon offsets from the Basia property’s trees, and/or generating revenues from logging using existing voluntary carbon registries such as the Voluntary Carbon Standards Registry (www.v-c-s.org). Further, under the Basia CDA, the Company will pursue the development and sales of carbon credits from the forested land, and form the possible exploitation of coal; methane emitted from coal mines has 23 times the greenhouse warming potential of carbon dioxide. By capturing the methane and either flaring it, or using it in power application, significant amounts of carbon offsets can be generated. Developing carbon offset projects through flaring has been exemplified in the United Nations Framework Convention Climate Change (UNFCCC) approved consolidated methodology ACM0008 Version 6 issued 25 March 2009 titled “Consolidated methodology for coal bed methane, coal mine methane and ventilation air methane capture and use for power (electrical or motive) and heat and/or destruction through flaring or flameless oxidation”.

On February 1, 2011 the Company entered into a ~~Director. 6~~ ~~Martin Baldwin 44 Secretary, Treasurer, Chief Financial Officer~~Carbon Development Agreement with Sierra Gold Corp (OTC Pinkseets: SGCP) for the purpose of providing technical services for the development of a Project Design Document for the registration of carbon offsets from forestry activities (conservation and ~~a Director. The directors~~afforestation) from 42,000 acres of lands in Sierra Leone in Africa. Pursuant to the Carbon Development Agreement the Company shall retain 10% of the net profits from the sales of the carbon credits, if or when they are realized.

On February 17, 2011 the Company ~~serve~~entered into a Memorandum of Understanding with Genesys International, a company based in ~~such capacity~~India with business activities in outsourcing in various computer technologies. Under the Memorandum of Understanding the Companies shall discuss Agreements in co-marketing activities and assess joint carbon development opportunities in India.

On March 27, 2011. The Corporation entered into a Memorandum of Agreement with Grid Cloud Solutions Inc (Pink: GRDC) to offer services for carbon accounting and trading for the clients of Grid Cloud Solutions Inc. Grid Cloud Solutions offers energy saving management service to various industrial and commercial clients. Under the Agreement the Corporation will offer carbon services to the clients of Grid Cloud Solutions Inc in exchange for 50% of the revenues generated.

PART III

ITEM 10

DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

NSU Resources Inc’s executive officer and director and his respective age as of December 31, 2011 are as follows:

Directors:

	Name of Director	Age
	Luc C. Duchesne	51
	Robert Williams	49

Executive Officer:

Name of Officer	Age	Office
Luc C. Duchesne	51	President, CFO,CEO
Robert Williams	49	Chief Technology Officer

The term of office for each director is one year, or until the next annual meeting of the ~~Company's shareholders~~shareholders.

Biographical Information

Set forth below is a brief description of the background and business experience of our officers and director for the past year.

Luc Duchesne (51), for the past five years, has been President and CEO of Forest BioProducts Inc, a consulting firm in forestry dealing with resource development. Forest BioProducts is owned in majority by Grid Cloud Solutions, Inc. (OTC Pinksheets: GRDC) a publicly trading technology and consulting company in the renewable energy sector ,where Mr. Duchesne holds the positions of director and Chief Technology Officer. He has also been president and CEO of SITTM Technologies Inc, a private biodiesel technology and brokerage firm until ~~their successors have been duly elected~~February 17, 2011 when it was acquired by MSE Envirotech Corp (OTC Pinksheets: MEVT); and ~~qualified. The officers~~of GSN Dreamworks Inc., a private research and development firm involved in opportunities relating to carbon stocks and natural resources.

From 2004 to 2006 Mr. Duchesne was fully engaged in forestry consulting, acting as CEO of Forest BioProducts, providing various services to clients seeking economic opportunities from the exploitation of non timber values from forest ecosystems such as bioenergy, biomass, pharmaceuticals and nutraceuticals. These activities were reduced to 20% of his time when he took the position of CEO of SITTM Technologies Inc, in 2006. SITTM Technologies Inc is a privately owned corporation involved in the manufacturing and sales of biodiesel and value added products from fatty acid methyl esters. This took up 60% of his time. He was president of GSN Dreamworks from 2006 continuing until June 2010 when he became CEO of BioCarbon Systems International. From June 2010 to December 2010 he was CEO and director of Bio-Carbon Systems International Inc. He is currently engaged in the full time management of the Company ~~serve~~with an effort of at least 40 hours per week.

Mr. Duchesne holds a PhD in plant biochemistry from the ~~discretion~~University of Guelph, a M.Sc. in Forest Sciences from the University of Toronto (1985) and a B.Sc. in Forest Engineering from Laval University (1983). He has authored or co-authored 85 peer-reviewed scientific articles, book chapters or books. He has developed algorithms and other knowledge relating to carbon stocks and the assessment of the ~~Company's directors. The Company does not compensate any person for acting~~amount of carbon stock found in various natural ecosystems. That intellectual property can be used to validate carbon stocks in the context of carbon trading regimes. Mr. Duchesne was appointed as a ~~director The principal occupation of the Company's officers and directors during the past several years is as follows: Mr. Trahan has been an officer and~~ director of the Company ~~since November, 2009. Since August 2008~~in large part because of his academic training with respect to forestry matters, his training and experience in the forestry sector, his prior experience as an entrepreneur, and his specific knowledge and understanding of the intellectual property to be exploited by the Company and the business opportunities in which that technology could be applied. Mr. ~~Trahan~~Duchesne anticipates that over the next six months he will devote approximately 160 hours per month to the business of the Company.

Robert Williams received his degree in Chemistry from Acadia University in Nova Scotia (1984) and his Ph.D. from the University of Guelph (1989). Throughout his career he has been the Chief Executive Officer and a director of MSE Enviro-Tech Corp. Between 2002 and the time he joined MSE Enviro-Tech, Mr. Trahan was the Chief Executive Officer and President of Geneva Bancorp Inc. where he was involved in ~~international financial consulting and investment banking. Between 1998 and 2002 Mr. Trahan was~~ the ~~Chief Executive Officer and a Director~~development of Symphony Telecom, Inc. Since October 2008, Mr. Trahan has also been a director of Atlantic Wind & Solar, Inc. Mr. Baldwin has been an officer and director of the Company since November, 2009. Since April 2009 Mr. Baldwin has been a Director of MSE Enviro-Tech Corp. Between July 2008 and April 2009 Mr. Baldwin was a Director with the International Money Market Department at the Bank of Nova Scotia in Toronto. Between August 2002 and June 2008 Mr. Baldwin was the Assistant General Manager/Head Treasurer at Scotiabank Caribbean Treasury Limited (formerly the Caribbean Treasury Unit of Scotiabank Bahamas Ltd.) in Nassau, Bahamas. Between January 2001 and August 2002 Mr. Baldwin was a Director with the International Money Market Department at the Bank of Nova Scotia in London. Since November 2008, Mr. Baldwin has also been a director of Atlantic Wind & Solar, Inc. The Company does not have a compensation or an audit committee. The Company does not have a financial expert. Mr. Trahan and Mr. Baldwin are not independent directors as that term is defined in section 803 of the listing standards of the NYSE AMEX. Neither Mr. Trahan nor Mr. Baldwin are a "financial expert" as that term is definedprojects involving multidisciplinary groups in the ~~regulations~~research and isolation of materials. Dr. Williams is an expert in research and development and has extensive contacts throughout a variety of industries and bring his unbridled optimism to this project.

Significant Employees

We do not employ any non-officers who are expected to make a significant contribution to its business.

Corporate Governance

Nominating Committee. We have not established a Nominating Committee because of our limited operations; and because we have only one director and officer, we believe that we are able to effectively manage the ~~Securities~~issues normally considered by a Nominating Committee.

Audit Committee. We have has not established an Audit Committee because of our limited operations; and ~~Exchange Commission. The Company has~~because we have only one director and officer, we believe that we are able to effectively manage the issues normally considered by a Audit Committee.

Code of Ethics.We have not adopted a Code of Ethics ~~applicable to its~~for our principal executive and financial ~~and accounting officers and persons performing similar functions. The Company does not believe it requires a Code of Ethics since it~~officers.

ITEM 11

EXECUTIVE COMPENSATION.

Summary Compensation Table

Name and principal position

Fiscal

Year

Salary

Bonus

Other annual compensation

Restricted stock

award(s)

Securities underlying

options/ SARs

LTIP

payouts

All other

compensation

Luc C. Duchesne

Director, President

2010

John Wilkes

Director

2010

$80,000

There has ~~only two officers. 7~~ ~~Changes~~been no cash payment paid to the individuals above for services rendered in ~~Management The following shows~~all capacities to us for the changes in the Company's management since its inception: Appointed (A) to or Resigned (R) Positions Appointed to Date Name from Position or Resigned From 1/17/07 Debbie Barnum A President, Treasurer Principal Financial Officer, and a Director 1/17/07 Darrin Barnum A Secretary and a Director 11/19/09 Gilles Trahan A Director 11/19/09 Martin Baldwin A Director 11/19/09 Debbie Barnum R President, Treasurer Principal Financial Officer, and a Director 11/19/09 Darrin Barnum R Secretary and a Director 11/19/09 Gilles Trahan A President and Chief Executive Officer 11/19/09 Martin Baldwin A Secretary, Treasurer and Chief Financial Officer Compensation Committee Interlocks and Insider Participation. The Company's directors act as its compensation committee. During the yearperiod ended December 31, ~~2009, none of~~2010. There has been no compensation awarded to, earned by, or paid to the ~~Company's officers were also a member of~~executive officer by any person for services rendered in all capacities to us for the fiscal period ended December 31, 2010. No compensation ~~committee~~is anticipated within the next six months to any officer or ~~a director of another entity, which other entity had one of its executive officers serving as a~~ director of the ~~Company or as a member of~~Company.

Stock Option Grants

We did not grant any stock options to the ~~Company's compensation committee. ITEM 11. EXECUTIVE COMPENSATION~~ executive officer during the most recent fiscal period ended December 31, 2011.

ITEM 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table ~~shows~~provides the ~~compensation paid or accrued during~~names and addresses of each person known to NSU Resources Inc. to own more than 5% of the ~~year ended~~outstanding common stock as of December 31, ~~2009 to the executive officers of the Company. No officer of the Company has ever received compensation in excess of $100,000 per year. 8~~ All Other Annual Stock Option Compen- Name2011 and Fiscal Salary Bonus Awards Awards sation Principal Position Year (1) (2) (3) (4) (5) Total - ------------------ ------ ------ ----- ------ ----- --------- -------- Gilles Trahan 2009 - - - - - - Chief Executive Officer(11-09 to 12-09) Martin Baldwin 2009 - - - - - - Secretary, Treasurer and Chief Financial Officer(11-0 to 12-09) Debbie Barnum 2009 - - - - - - Chief Executive 2008 - - - - - - Officer (1-07 to 2007 - - - - - - 11-09) Darrin Barnum 2009 - - - - - - Secretary (1-07 to 2008 - - - - - - 11-09) 2007 - - - - - - (1) The dollar value of base salary (cash and non-cash) received. (2) The dollar value of bonus (cash and non-cash) received. (3) During the periods covered by the ~~table, the value~~officers and directors, individually and as a group. Except as otherwise indicated, all shares are owned directly.

Security Ownership of the Company's shares issued as compensation for services to the persons listed in the table. (4) The value of all stock options granted during the periods covered by the table. (5) All other compensation received that the Company could not properly report in any other column of the table. See Item 10 of this report regarding changes in the Company's management. The Company does not have employment agreements with any of its officers. The following shows the amounts that the Company expects to pay to its officer during the twelve-month period ending December 31, 2010,Certain Beneficial Owners and ~~the time its officer plans to devote to the Company's business. The Company does not have employment agreements with any person. 9~~ Proposed Time to be Devoted to Name Compensation Company's Business Gilles Trahan $ 75,000 10 Martin Baldwin $ 75,000 10% Long-Term Incentive Plans. The Company does not have any pension, stock appreciation rights, long-term incentive or other plans and has no intention of implementing any of these plans for the foreseeable future. Employee Pension, Profit Sharing or other Retirement Plans. The Company does not have a defined benefit, pension plan, profit sharing or other retirement plan, although it may adopt one or more of such plans in the future. Compensation of Directors. The Company's directors did not receive any compensation for their services as directors during the fiscal year ended December 31, 2009. Stock Option and Bonus Plans The Company has not adopted any stock option or stock bonus plans. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDERS MATTERS Management

The following table ~~lists,~~sets forth, as of ~~March~~December 31, ~~2010, those~~2011, the number of shares of Common Stock beneficially owned of record by executive officers, directors and persons ~~owning beneficially~~who hold 5% or more of the ~~Company's~~outstanding common stock of the ~~number~~Company.

Beneficial Owner	Amount of Stock Owned	% Ownership
Matthew Sacco	100,000,000	65.0%
2173 Rochester Circle
Oakville, Ontario
L6M 5E3 Canada

Luc C Duchesne	24,000,000	15.5%
132 Leo Avenue
Sault Stye Marie, Ontario
P6A 3V7 Canada

Lacey Holdings	23,333,333	15.1%
2nd Floor, 33 Waterfront Drive
P.O. Box 3339, Road Town
Tortola, BVI

Others	7,366,686	5.0%

Total issued	154,700,019	100%

(1) Shares registered to 1776729 Ontario Corporation a company controlled by Dr Duchesne, his wife and ~~percentage~~his son.

ITEM 13

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

During Fiscal Year 2011, there were two material transactions with 1776729 Ontario Corporation a company controlled by Dr Duchesne, his wife and his son:

1. On January 14, 2011, the Company entered into a License Agreement with 1776729 Ontario Corporation (the “1776729 License”), a privately owned corporation registered under the Laws of ~~outstanding~~Ontario. Pursuant to the 1776729 License, the Company was granted an exclusive, non-transferable, and irrevocable right to develop and comercialize certain intellectual property that will be used in developing carbon credits from forested lands. The intellectual property consists of knowledge pertaining to the registration of carbon offsets or carbon credits from the biological carbon pools contained in ecosystems (mainly forest ecosystems). Carbon pools can then be conveyed into a new form of security, termed carbon credits, which are bought by carbon emitters who are compelled to reduce their carbon emissions through legislation, or carbon emitters who may voluntarily engage in carbon trading for the purpose of increasing their environmental stewardship or for publicity purposes. Under the 1776729 License the Company must pay a royalty of 6 % of its gross annual sales to 1776729. In addition, the Company has agreed to pre-pay the royalty on the first $15,000 of revenue to be earned under the 1776729 License, which was paid by the issuance of 4,000,000 of the Company’s Common Stock to 1776729 Ontario Corporation.

2. On October 31, 2011, the company entered into a License Agreement with 1776729 Ontario Corporation for the acquisition of a process for the purification of rare earths. The license grants exclusive rights to the Company for the use of a process permitting the purification of rare earths from ores. Under the terms of the license the Company shall pay a royalty of 5% of the gross revenues generated from the use of the license, provided the first $2,000 be paid as 20,000,000 common restricted shares of the company. The technology is an untested 9-step process that may be the object of one or several PCT and/or regional patent applications in the future. No revenues were ever generated from the use of the technology licensed from 1776729, which is a holding company with no commercial activities and is owned by ~~each director~~Dr Duchesne, his wife and ~~officer of~~son.

On January 11, 2011 the Company entered into a management contract with Dr Duchesne as CEO for $120,000 per annum. However, Dr Duchesne has waived his management fees for the FY 2011 as the Company has not generated revenues.

On October 24, 2011 the Company entered into a management contract with Dr Robert Williams to act as Chief Technology Officer for $80,000 per annum.

During Fiscal Year 2011, there was othermaterial transactions between the Company and ~~by all officers~~any Officer, Director or related party has not, since the date of incorporation, had any material interest, direct or indirect, in any transaction with us or in any presently proposed transaction that has or will materially affect us:

-The Officers and ~~directors~~Directors;

-Any person proposed as a ~~group. Unless otherwise indicated, each owner has sole~~nominee for election as a director;

-Any other person who beneficially owns, directly or indirectly, shares carrying more than 5% of the voting ~~and investment powers over his~~rights attached to the outstanding shares of common ~~stock. Name~~stock;

-Any relative or spouse of any of the foregoing persons who have the same house as such person.

Any future transactions between us and ~~Address Number~~our Officers, Directors, and Affiliates will be on terms no less favorable to us than can be obtained from unaffiliated third parties. Such transactions with such persons will be subject to approval of ~~Shares Percent~~our Board of Class - ---------------- ---------------- ---------------- Gilles Trahan 3,500,000 26% Sunsational Old Fort Point West Bay Street Nassau, Bahamas Martin Baldwin 3,500,000 26% Lot #27 Love Beach Nassau, Bahamas ________ ___ All officers and directors as group (2 persons) 7,000,000 52% ========= == 10 ~~ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS. See Item 1~~Directors.

ITEM 14

PRINCIPAL ACCOUNTANT FEES AND SERVICES.

As of ~~this report. ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES Moore & Associates audited the Company's financial statements for the year ended~~ December 31, ~~2008.~~ 2011 the Company has incurred auditing expenses of approximately $31,623since inception which includes bookkeeping and auditing services. There were no other audit related services or tax fees incurred.

PART IV

ITEM 15

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

(a)	The following documents have been filed as a part of this Annual Report on Form 10-K.

1.	Financial Statements

	Page
Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets	F-2
Statements of Operations	F-3
Statements of Stockholders' Deficit	F-4
Statements of Cash Flows	F-5
Notes to Financial Statements	F-6-12

2.	Financial Statement Schedules.

All schedules are omitted because they are not applicable or not required or because the required information is included in the Financial Statements or the Notes thereto.

Exhibits.

The following ~~table shows the aggregate fees billed~~exhibits are filed as part of, or incorporated by reference into, this Annual Report:

EXHIBIT

NUMBER

DESCRIPTION

3.1	Articles of Incorporation

3.2

By-Laws

23.1	Consent of Accountant

31.1	8650 SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

32.1	4700 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION

SIGNATURES

Pursuant to the ~~Company during~~requirements of Section 13 or 15(d) of the ~~year ended~~ Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NSU RESOURCES INC

	By:	/S/ Luc C. Duchesne
		Luc C. Duchesne
		President
		Chief Executive Officer
		Chief Financial Officer
		Chief Accounting Officer
		Secretary, Director

		Date: March 27, 2012

BIO-CARBON SOLUTIONS INTERNATIONAL, INC.

(formerly Elemental Protective Coatings Corp..)

(A Development Stage Company)

Financial Statements

December 31, ~~2008 by Moore & Associates. 2008 Audit Fees $7,000 Audit-Related Fees --~~ 2011 and 2010

BIO-CARBON SOLUTIONS INTERNATIONAL, INC.

(formerly ELEMENTAL PROTECTIVE COATINGS CORP.)

(A Development Stage Company)

Financial Information Systems -- Design and Implementation Fees -- Tax Fees -- All Other Fees -- ------ $7,000 De Joya Griffith & Company audited the Company's financial statements for the year ended Statements

December 31, ~~2008~~2011 and 2009. The following table shows the aggregate fees billed to the Company during the year ended December 31, 2009 by De Joya Griffith & Company. 2009 Audit Fees $7,000 Audit-Related Fees -- Financial Information Systems -- Design and Implementation Fees -- Tax Fees -- All Other Fees -- ------ $7,000 Audit fees represent amounts billed for professional services rendered for the audit of the Company's annual financial statements and the review of the Company's interim financial statements. Before Moore & Associates and De Joya Griffith & Associates was engaged by the Company to render these services, the engagement was approved by the Company's Directors. 11 ITEM 15. EXHIBITS Exhibit Number Exhibit Name 3.1 Articles of Incorporation * 3.2 Bylaws * 10.1 Assignment of Contract Rights 31 Rule 13a-14(a) Certifications 32 Section 1350 Certifications * Incorporated by reference to the same exhibit filed with the Company's registration statement on Form SB-2 (File # 333-148546). 12 ~~De Joya Griffith & Company, LLC CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS~~ 2010

CONTENTS

		Page(s)
Report of Independent Registered Accounting Firm		F-1

Balance Sheets as of December 31, 2011 and 2010		F-2

Statements of Operations for the years ended December 31, 2011 and 2010 and the period of January 17, 2007 (Inception) to December 31, 2011		F-3

Statement of Changes in Stockholders’ Equity (Deficit) Cumulative to December 31, 2011		F-4

Statement of Cash Flows for the years ended December 31, 2011 and 2010 and the period of January 17, 2007 (Inception) to December 31, 2011		F-5

Notes to the Financial Statements		F-6 - F-12

Report of Independent Registered Public Accounting Firm

To ~~The~~the Board of Directors ~~and Stockholders~~of

NSU Resources Inc

(Formerly known as Bio-Carbon Solutions International, Inc)

(Formerly Known As Elemental Protective ~~Coating Corporation Toronto, Canada~~ Coatings Corp.)

(A Development Stage Company)

We have audited the accompanying balance ~~sheets~~sheet of ~~Elemental Protective Coating Corp. (formerly DBL Senior Care, Inc.) (A Development Stage Enterprise)~~NSU Resources Inc as of December 31, ~~2009~~2011 and ~~2008, and~~December 31, 2011and the related statements of operations, ~~stockholders' equity~~stockholders'equity (deficit), and cash flows for the ~~years then ended and~~period from the date of inception ~~(January~~on January 17, ~~2007)~~2007 to December 31, ~~2009.~~2011then ended. These financial statements are the responsibility of ~~the Company's~~theCompany's management. Our responsibility is to express an opinion on ~~the financial~~thesefinancial statements based on our ~~audit.~~ audits.

We conducted our ~~audit~~audits in accordance with the standards of the Public ~~Company Accounting~~CompanyAccounting Oversight Board (United States). Those standards require that we ~~plan and~~planand perform the audit ~~to obtain~~toobtain reasonable assurance about whether the ~~financial statements~~financialstatements are free of material misstatement. An audit includes examining, on ~~a test~~atest basis, evidence supporting the amounts and disclosures in the ~~financial statements.~~financialstatements. An audit also includes assessing the accounting principles used ~~and significant~~andsignificant estimates made by management, as well as evaluating the ~~overall financial~~overallfinancial statement presentation. We believe that our ~~audit provides a reasonable~~audits provide areasonable basis for our opinion.

In our opinion, the financial statements referred to above ~~present fairly,~~presentfairly, in all material respects, the financial position ofofBio-Carbon Solutions International, Inc(Formerly Known As Elemental Protective ~~Coating~~Coatings Corp. ~~(formerly DBL Senior Care, Inc.~~) ~~(A Development Stage Enterprise)~~ as of December 31, ~~2009~~2010 and ~~2008,~~December 31, 2009, and the results of ~~their~~its operations ~~and cash~~andcash flows for the ~~years then ended and~~period from the date of inception ~~(January~~on January 17, ~~2007)~~2007 to December 31, ~~2009~~2010 then ended in conformity with U.S.generallyaccepted accounting ~~principles generally accepted in~~principles.

We were not engaged to examine management's assessment of the ~~United States.~~ effectiveness of the Company’s internalcontrol over financial reporting as of December 31, 2011, and accordingly, we donot express an opinion thereon.

The accompanying financial statements have been prepared ~~assuming~~assumingthat the Company will continue as a going concern. As discussed in Note 32 to ~~the~~theconsolidated financial statements, the Company has suffered recurring losses andhas experienced negative cash flows from operations, which ~~raise substantial doubt~~raises substantialdoubt about ~~its~~theCompany's ability to continue as a going concern. ~~Management's plans~~Management'splans in regard to ~~these~~those matters are also described in Note 3.2 to theconsolidated financial statements. The consolidated financial statements do ~~not include~~notinclude any adjustments that might result from the outcome of this uncertainty. ~~De Joya Griffith~~

/s/ SAM KAN & ~~Company, LLC /s/ De Joya Griffith~~ COMPANY

____________________________

Sam Kan& Company ~~LLC Henderson, Nevada~~

April ~~8, 2010 Elemental 10-K Dec 09 Auditors Report 4-12-10~~ 16, 2012

Alameda, California

F-1

NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Balance Sheets

		December 31,
		2011		2010
ASSETS
Current assets
	Prepaid expenses	$	17,000	$	-
Total current assets			17,000		-

	Land		10,000		-

Total assets		$	27,000	$	-

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
	Accounts payable and accrued liabilities	$	74,497	$	17,236
	Related party payables		5,336		8,066
	Wages payable		18,981		153,980
Total current liabilities			98,814		179,282

Stockholders' deficit
	Preferred stock, $.001 par value; 5,000,000 shares authorized, no shares issued or outstanding		-		-
	Common stock, $.001 par value; 275,000,000 shares authorized; 154,811,111 and 24,811,111 issued and outstanding at December 31, 2011 and 2010		154,811		24,811
	Additional paid in capital		2,210,490		2,166,499
	Other comprehensive income (loss)		24		(411)
	Deficit accumulated during the development stage		(2,437,139)		(2,370,181)
Total stockholders' deficit			(71,814)		(179,282)

Total liabilities and stockholders' deficit		$	27,000	$	-

See accompanying notes to financial statements.

F-2

NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Statements of Operations

						For the period from January 17, 2007 (inception) to December 31, 2011

		Year ended December 31,
		2011		2010
Revenue		$	-	$	-	$	-

Operating expenses
	General and administrative		3,055		2,254		15,803
	Officer compensation		5,437		153,569		159,006
	Professional fees		58,432		8,655		117,337
Total operating expenses			66,924		164,478		292,146

Other income (expense)
	Other income		-		-		41
	Interest expense		(34)		-		(34)
	Impairment loss		-		(2,100,000)		(2,100,000)
Total other income (expense)			(34)		(2,100,000)		(2,099,993)

Net loss applicable to common shareholders		$	(66,958)	$	(2,264,478)	$	(2,392,139)

Other comprehensive income
	Foreign currency translation adjustment		435		(411)		24
Total comprehensive income		$	(66,523)	$	(2,264,889)	$	(2,392,115)

Basic and diluted loss per common share		$	(0.00)	$	(0.46)

Weighted average shares outstanding			52,531,659		4,929,833

See accompanying notes to financial statements.

F-3

NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Statement of Changes in Stockholders' Equity (Deficit)

	Common Stock			Preferred Stock			Additional Paid-in Capital		Other comprehensive income (loss)		Accumulated Deficit		Total
	Shares	Amount		Shares	Amount		Additional Paid-in Capital		Other comprehensive income (loss)		Accumulated Deficit		Total
Beginning balance	-	$	-	-	$	-	$	-	$	-	$	-	$	-
Common stock issued for cash	5,555,556		5,556	-		-		44,444		-		(45,000)		5,000
Donated capital	-		-	-		-		200		-		-		200
Common stock issued for cash	700,000		700	-		-		30,800		-		-		31,500
Net loss, period ended December 31, 2007	-		-	-		-		-		-		(7,507)		(7,507)
Balance, December 31, 2007	6,255,556		6,256	-		-		75,444		-		(52,507)		29,193

Net loss, year ended December 31, 2008	-		-	-		-		-		-		(29,160)		(29,160)
Balance, December 31, 2008	6,255,556		6,256	-		-		75,444		-		(81,667)		33

Donated capital	-		-	-		-		100		-		-		100
Repurchase of company stock and cancellation	(4,777,778)		(4,778)	-		-		4,578		-		-		(200)
Donated capital	-		-	-		-		9,710		-		-		9,710
Net loss, year ended December 31, 2009	-		-	-		-		-		-		(24,036)		(24,036)
Balance, December 31, 2009	1,477,778		1,478	-		-		89,832		-		(105,703)		(14,393)

Common stock issued for intangible asset	23,333,333		23,333	-		-		2,076,667		-		-		2,100,000
Foreign currency translation	-		-	-		-		-		(411)		-		(411)
Net loss, year ended December 31, 2010	-		-	-		-		-		-		(2,264,478)		(2,264,478)
Balance, December 31, 2010	24,811,111		24,811	-		-		2,166,499		(411)		(2,370,181)		(179,282)

Common stock issued for prepaid expense	24,000,000		24,000	-		-		(7,000)		-		-		17,000
Common stock issued for settlement of debt	6,000,000		6,000	-		-		140,991		-		-		146,991
Common stock issued for land purchase	100,000,000		100,000	-		-		(90,000)		-		-		10,000
Foreign currency translation	-		-	-		-		-		435		-		435
Net loss, year ended December 31, 2011	-		-	-		-		-		-		(66,958)		(66,958)
Balance, December 31, 2011	154,811,111	$	154,811	-	$	-	$	2,210,490	$	24	$	(2,437,139)	$	(71,814)

See accompanying notes to financial statements.

F-4

NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(A Development Stage Company)
Statements of Cash Flows
							For the period of January 17, 2007 (inception) to December 31, 2011


			Year ended December 31,
			2011		2010
Cash flows from operating activities
	Net loss		$	(66,958)	$	(2,264,478)	$	(2,392,139)
	Adjustments to reconcile net loss to net cash used in operating activities
		Impairment loss		-		2,100,000		2,100,000
	Changes in operating assets and liabilities
		Accounts payable and accrued liabilities		57,261		2,806		74,497
		Wages payable		5,437		153,569		158,981
Net cash used in operating activities				(4,260)		(8,103)		(58,661)

Net cash used in investing activities				-		-		-

Cash flows from financing activities
		Proceeds from related party loans		4,261		8,066		12,327
		Contributed capital		-		-		10,010
		Proceeds from sale of stock		-		-		36,500
		Payment on cancelled shares		-		-		(200)
Net cash provided by financing activities				4,261		8,066		58,637

		Effect of exchange rate on cash		(1)		-		24

		Decrease in cash		-		(37)		-
		Cash at beginning of period		-		37		-
		Cash at end of period	$	-	$	-	$	-

Non-Cash Investing and Financing Activities
		Common stock issued for purchase of intangible asset	$	-	$	-	$	2,100,000
		Common stock issued for settlement of wages and note payable	$	146,991	$	-	$	146,991
		Common stock issued for prepaid expense	$	17,000	$	-	$	17,000
		Common stock issued for land acquisition	$	10,000	$	-	$	10,000

See accompanying notes to financial statements.

F-5

NSU RESOURCES INC

(formerly Bio-carbon Solutions International, Inc.)

(formerly Elemental Protective ~~Coating~~Coatings Corp. ~~(formerly DBL Senior Care,~~, Inc.) (a

(A Development Stage Company) ~~Balance Sheets~~

Notes to Financial Statements

December 31, -------------------------------- 2009 2008 --------------- --------------- Assets Current assets: Cash $ 37 $ 33 ---------- ---------- Total current assets 37 33 ---------- ---------- Intangible asset- net 4,970,833 -- ---------- ---------- Total assets $4,970,870 $ 33 ========== ========== Liabilities2011 and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 8,430 $ - Notes payable 6,000 - ---------- ---------- Total current liabilities 14,430 - ---------- ---------- Long term liabilities: Accrued interest-related party 34,521 - Convertible note payable- related party 5,000,000 - ---------- ---------- Total long term liabilities 5,034,521 - ---------- ---------- Total liabilities 5,048,951 - ---------- ---------- Stockholders' equity (deficit) Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding - - Common stock, $0.001 par value, 70,000,000 shares authorized, 13,300,000 and 56,300,000 shares issued and outstanding as of 12/31/2009 and 12/31/2008, respectively 13,300 56,300 Additional paid-in capital 78,010 25,400 Deficit accumulated during development stage (169,391) (81,667) ---------- ---------- Total stockholders' equity (deficit) (78,081) 33 ---------- ---------- Total liabilities and stockholders' equity (deficit) $4,970,870 $ 33 ========== ========== The accompanying notes are an integral part of these financial statements. 2 Elemental Protective Coating Corp. (formerly DBL Senior Care, Inc.) (a Development Stage Company) Statements of Operations Inception For the years ended (January 17, 2007) December 31, to December 31, 2009 ------------------ -------------------- 2009 2008 ---- ---- Revenue $ - $ - $ - -------- ------- ---------- Expenses: General and administrative expenses 2,946 1,656 10,494 Amortization expense 29,167 - 29,167 Professional fees 21,090 27,504 50,250 -------- ------- ---------- Total expenses 53,203 29,160 89,911 -------- ------- ---------- Other income (expense): Other income - - 41 Interest expense (34,521) - (34,521) -------- ------- ---------- Total other expenses (34,521) - (34,480) -------- ------- ---------- Net loss $(87,724) $(29,160) $ (124,391) ======== ======== ========== Weighted average number of common shares outstanding - basic 51,338,462 56,300,000 ========== ========== Net loss per common share - basic $ (0.00) $ (0.00) ========== ========== The accompanying notes are an integral part of these financial statements. 3 Elemental Protective Coating Corp. (formerly DBL Senior Care, Inc.) (a Development Stage Company) Statement of Stockholders' Equity (Deficit) Deficit Accumu- lated during Total the Stock- Additional Develop- holders' Common Stock Paid-in ment Equity Shares Amount Capital Stage (Deficit) ------ ------ ---------- -------- --------- January 17, 2007 Subscriptions receivable $0.001 per share 50,000,000 $ 50,000 $ - $ (45,000) 5,000 July 30, 2007 Donated capital - - 200 - 200 August 6, 2007 Private placement $0.05 per share 6,300,000 6,300 25,200 - 31,500 Net loss - - - (7,507) (7,507) ----------- --------- --------- --------- ------- Balance, December 31, 2007 56,300,000 56,300 25,400 (52,507) 29,193 ----------- --------- --------- --------- ------- Net loss - - - (29,160) (29,160) ----------- --------- --------- --------- ------- Balance, December 31, 2008 56,300,000 56,300 25,400 (81,667) 33 ----------- --------- --------- --------- ------- April 14, 2009 Donated capital - - 100 - 100 November 19, 2009 Repurchase of company stock and cancellation (43,000,000) (43,000) 42,800 - (200) December 31, 2009 Donated capital - - 9,710 - 9,710 Net loss - - - (87,724) (87,724) ----------- --------- --------- --------- ------- Balance, December 31, 2009 13,300,000 $ 13,300 $ 78,010 $(169,391) $(78,081) =========== ========= ========== ========= ======== The accompanying notes are an integral part of these financial statements. 4 Elemental Protective Coating Corp. (formerly DBL Senior Care, Inc.) (a Development Stage Company) Statements of Cash Flows Inception For the years ended (January 17, 2007) December 31, to December 31, 2009 ------------------ -------------------- 2009 2008 ---- ---- Operating activities Net loss $ (87,724) $ (29,160) $ (124,391) Adjustments to reconcile net loss to net cash used in operating activities: Amortization 29,167 - 29,167 Changes in operating assets and liabilities: Increase in accounts payable 8,430 - 8,430 Increase in accrued interest 34,521 - 34,521 --------- --------- ----------- Net cash (used) by operating activities (15,606) (29,160) (52,273) --------- --------- ----------- Financing activities Donated capital 9,810 - 10,010 Issuances of common stock - - 36,500 Payment on cancelled shares (200) - (200) Proceeds from notes payable 6,000 - 6,000 --------- --------- ----------- Net cash provided by financing activities 15,610 - 52,310 --------- --------- ----------- Net increase (decrease) in cash 4 (29,160) 37 Cash - beginning 33 29,193 - --------- --------- ----------- Cash - ending $ 37 $ 33 $ 37 ========= ========= =========== Supplemental disclosures: Acquisition of license agreement through through debt financing $5,000,000 $ - $ 5,000,000 ========== ========= =========== Income taxes paid $ - $ - $ - ========== ========= =========== The accompanying notes are an integral part of these financial statements. 5 Elemental Protective Coating Corp. (formerly DBL Senior Care, Inc) (a Development Stage Company) Notes to the Financial Statements 2010

Note 1 - ~~History and organization~~Nature of ~~the company~~ Business

The Company was organized January 17, 2007 (Date of Inception) under the laws of the State of Nevada, as DBL Senior Care, Inc. The Company subsequently changed its name on December 11,2009 to Elemental Protective Coatings Corp, subsequently changed its name on January 27, 2011 to Bio-Carbon Solutions International, Inc., and more recently to NSU Resources Inc on October 31, 2011. The Company provides specialized advisory and value chain management services to those wishing to participate in the carbon development market, especially in the mining sector. The Company is authorized to issue up to ~~70,000,000~~275,000,000 shares of its $0.001 par value common stock and 5,000,000 shares of its $0.001 par value preferred stock. The Company has limited operations and in accordance with FASB ASC 915-10, "Development Stage Entities," the Company is considered a development stage company. ~~On December 11, 2009, the Company amended its articles of incorporation to change its name from DBL Senior Care, Inc. to Elemental Protective Coatings Corp.~~

The former business of the Company was to provide personal care services to elderly, handicapped or other home-bound individuals suffering infirmity. During the year ended December 31, 2009, the board of directors changed the Company's focus toward the manufacture and sale of fire retardant products.

During January 2011, the Company issued a 1:9 reverse split on its common stock. The split has been applied retroactively to these financial statements.

Note 2 - Significant Accounting policies and procedures Year end The Company has adopted December 31 as its fiscal year end. Basis of Presentation The financial statements present the balance sheet, statement of operations, stockholder's equity (deficit) and cash flows of the Company. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. Use of estimates Policies

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles 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 ~~revenue~~revenues and expenses during the reporting period. Actual results could differ from those estimates. ~~The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits.~~

Cash

For the ~~purpose~~Statements of ~~the statements of cash flows,~~Cash Flows, all highly liquid investments with ~~an original~~ maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, ~~2009 and 2008. 6~~ ~~Note 2 - Accounting policies and procedures (continued) Concentrations~~2011 or 2010.

Income taxes

Income taxes are provided for using the liability method of Risks: Cash Balances The Company maintains its cash in institutions insured by the Federal Deposit Insurance Corporation (FDIC). This government corporation insured balances up to $100,000 through October 13, 2008. As of October 14, 2008 all non-interest bearing transaction deposit accounts at an FDIC-insured institution, including all personal and business checking deposit accounts that do not earn interest, are fully insured for the entire amount in the deposit account. This unlimited insurance coverage is temporary and will remain in effect for participating institutions until December 31, 2009. All other deposit accounts at FDIC-insured institutions are insured up to at least $250,000 per depositor until December 31, 2009. On January 1, 2010, FDIC deposit insurance for all deposit accounts, except for certain retirement accounts, will return to at least $100,000 per depositor. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, will remain at $250,000 per depositor. Revenue recognition The Company recognizes revenue and gains when earned and related costs of sales and expenses when incurred. Loss per share Net loss per share is providedaccounting in accordance with FASB ASC ~~260-10, "Earnings per Share"~~Topic 740 (formally SFAS No. 109 “Accounting for Income Taxes”). ~~Basic loss per share~~A deferred tax asset or liability is ~~computed by dividing losses available to common stockholders by~~recorded for all temporary differences between financial and tax reporting. Temporary differences are the weighted average number of common shares outstanding during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of December 31, 2009 and 2008. Advertising costs The Company expenses all costs of advertising as incurred. There were no advertising costs included in selling, general and administrative expenses at December 31, 2009 and 2008. Impairment of long-lived assets The Company follows the provisions of FASB ASC 360-10 "Property, Plant and Equipment". Management regularly reviews property, equipment, intangibles and other long-lived assets for possible impairment. This review occurs annually, on December 31, or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment. The Company will amortize its acquired intangible assets with definite lives over a period of twenty years. 7 Note 2 - Accounting policies and procedures (continued) If there is indication of impairment, then management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. Management believes that the accounting estimate related to impairment of its property and equipment, is a "critical accounting estimate" because: (1) it is highly susceptible to change from period to period because it requires management to estimate fair value, which is based on assumptions about cash flows and discount rates; and (2) the impact that recognizing an impairment would have on the assets reported on our balance sheet, as well as net income, could be material. Management's assumptions about cash flows and discount rates require significant judgment because the Company has no historical information upon which to rely upon to estimate future or ongoing revenues and expenses. The Company did not incur any impairment expense during the years ended December 31, 2009 and 2008. Contingencies The Company is not currently a party to any pending or threatened legal proceedings. Based on information currently available, management is not aware of any matters that would have a material adverse effect on the Company's financial condition, results of operations or cash flows. Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2009 and 2008. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Income Taxes The Company follows FASB ASC 740-10, "Income Taxes" for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the differencedifferences between the ~~financial statement and income tax basis~~reported amounts of assets and liabilities ~~using the enacted marginal~~and their tax ~~rate applicable~~basis. Deferred tax assets are reduced by a valuation allowance when, ~~the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes~~ in the ~~asset or liability each period. If available evidence suggests that~~opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be ~~realized, a valuation allowance is required to reduce the deferred~~realized. Deferred tax assets toand liabilities are adjusted for the ~~amount that is more likely than not to be realized. Future~~effect of changes in ~~such valuation allowance are included in~~tax laws and rates on the ~~provision for deferred income taxes in the period~~date of ~~change. 8~~ enactment.

F-6

NSU RESOURCES INC

(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)

(formerly Elemental Protective Coatings Corp., Inc.)

(A Development Stage Company)

Notes to Financial Statements

December 31, 2011 and 2010

Note 2 - Significant Accounting ~~policies~~Policies (continued)

Advertising Costs

Advertising and ~~procedures (continued) Income Taxes (continued) Deferred income taxes may arise from temporary differences resulting from income~~promotion costs are expensed as incurred. We incurred advertising costs of $389 during the year ended December 31, 2011 and ~~expense items reported for financial accounting~~since inception.

Revenue Recognition

Revenue is recognized when evidence of an agreement exists, the price is fixed or determinable, goods are delivered or services performed and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The Company does not anticipate any significant changes to its total unrecognized tax benefits with the next twelve months. General and administrative expenses The significant components of general and administrative expenses consist of outside services, office supplies, postage, and bank service fees. Dividendscollectibility is reasonably assured. The Company has not ~~adopted~~recognized any ~~policy regarding payment of dividends. No dividends have been paid~~revenue since its inception.

Share Based Expenses

The Company complies with FASB ASC Topic 718 Compensation—Stock Compensation, which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or ~~declared since inception. For~~services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that based on the foreseeable future, the Company intends to retain any earnings to finance the development and expansion of its business and it does not anticipate paying any cash dividends on its common stock. Any future determination to pay dividends will be at the discretionfair value of the ~~Board~~entity’s equity instruments or that may be settled by the issuance of Directors and will be dependent upon then existing conditions, including the Company's financial condition and results of operations, capital requirements, contractual restrictions, business prospects and other factors that the board of directors considers relevant. Recent pronouncements In June 2009, the Financial Accounting Standards Board ("FASB") issuedthose equity instruments. FASB ASC ~~105-10, "Generally Accepted Accounting Principles."~~Topic 718 primarily focuses on accounting for transactions in which an entity obtains employee services in share-based payment transactions. This statement requires a public entity to expense the cost of employee services received in exchange for an award of equity instruments. This statement also provides guidance on valuing and expensing these awards, as well as disclosure requirements of these equity arrangements. The Company adopted FASB ASC 105-10 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. FASB ASC 105-10 will be effective for financial statements issued for reporting periods that end after September 15, 2009. In June 2009, the Financial Accounting Standards Board ("FASB") issued FASB ASC 810-10, "Consolidation". The amendments include: (1) the eliminationTopic 718 upon formation of the ~~exemption for qualifying special purpose entities, (2) a new approach for determining who should consolidate a variable-interest entity,~~company and ~~(3) changes to when it is necessary to reassess who should consolidate a variable-interest entity. SFAS 167 is effective for~~expenses share based costs in the ~~first annual reporting~~ period beginning after November 15, 2009 and for interim periods within that first annual reporting period. The Company will adopt FASB ASC 810-10 in fiscal 2010. The Company does not expect that the adoption of FASB ASC 810-10 will have a material impact on the financial statements. 9 Note 2 - Accounting policies and procedures (continued) In June 2009, the Financial Accounting Standards Board ("FASB") issued FASB ASC 860-10, "Transfers of and Servicing", which eliminates the concept of a "qualifying special-purpose entity," changes the requirements for derecognizing financial assets, and requires additional disclosures in order to enhance information reported to users of financial statements by providing greater transparency about transfers of financial assets, including securitization transactions, and an entity's continuing involvement in and exposure to the risks related to transferred financial assets. FASB ASC 860-10 is effective for fiscal years beginning after November 15, 2009. The Company will adopt FASB ASC 860-10 in fiscal 2010. The Company does not expect that the adoption of FASB ASC 860-10 will have a material impact on the financial statements. In June 2009, the Financial Accounting Standards Board ("FASB") issued FASB ASC 855-10 "Subsequent Events," FASB ASC 855-10 establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. FASB ASC 855-10 applies to both interim financial statements and annual financial statements. FASB ASC 855-10 was effective for interim or annual financial periods ending after June 15, 2009. FASB ASC 855-10 did not have a material impact on our financial statements. Note 3 - incurred.

Going concern

The ~~Company's~~Company’s financial statements are prepared ~~using~~in accordance with generally accepted accounting principles ~~in the United States of America~~ applicable to a going ~~concern which~~concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. ~~The~~Currently, the Company has ~~not yet established an ongoing~~minimal cash and no material assets, nor does it have operations or a source of ~~revenues~~revenue sufficient to cover its ~~operating~~operation costs and allow it to continue as a going concern. The Company ~~had an accumulated deficit~~will be dependent upon the raising of ~~$169,391 as~~additional capital through placement of December 31, 2009. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. Inour common stock in order to ~~continue as a going concern, the Company will need, among other things, additional capital resources. The Company is contemplating conducting~~implement its business plan, or merge with an ~~offering of its debt or equity securities to obtain additional~~ operating ~~capital. The Company is dependent upon its ability, and will continue to attempt, to secure equity and/or debt financing.~~company. There ~~are~~can be no ~~assurances~~assurance that the Company will be successful ~~and without sufficient financing it would be unlikely for the Company~~in either situation in order to continue as a going concern. The ~~ability~~officers and directors have committed to advancing certain operating costs of the Company.

F-7

NSU RESOURCES INC

(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)

(formerly Elemental Protective Coatings Corp., Inc)

(A Development Stage Company)

Notes to Financial Statements

December 31, 2011 and 2010

Note 2 - Significant Accounting Policies (continued)

Valuation of Investments in Securities and Securities at fair value – Definition and Hierarchy

Effective January 1, 2008, the Company adopted FASB ASC 820-10-15, Fair Value Measurements. This Statement defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. It applies to other accounting pronouncements where the Financial Accounting Standards Board (“FASB”) requires or permits fair value measurements but does not require any new fair value measurements. The Company had adopted FASB ASC 820-10-15, which had deferred the effective date for the disclosure of fair value measurements related to nonfinancial assets and nonfinancial liabilities to fiscal years beginning after November 15, 2008. The adoption of FASB ASC 820-10-15 did not have any material impact on the Company’s financial statements.

Valuation of Investments in Securities and Securities at fair value – Definition and Hierarchy

FASB ASC 820-10-15 defines fair value, thereby eliminating inconsistencies in guidance found in various prior accounting pronouncements, and increases disclosures surrounding fair value calculations. FASB ASC 820-10-15 establishes a three-tiered fair value hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows:

Level 1 – unadjusted quoted prices for identical assets or liabilities in active markets accessible by the Company at the measurement date.

Level 2 – inputs that are observable in the marketplace other than those inputs classified as Level 1

Level 3 – inputs that are unobservable in the marketplace and significant to the valuation

FASB ASC 820-10-15 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. If a financial instrument uses inputs that fall in different levels of the hierarchy, the instrument will be categorized based upon the lowest level of input that is significant to the fair value calculation.

Valuation Techniques

The Company values investment in securities that are freely tradable and are listed on a national securities exchange or reported on the NASDAQ national market at their last sales price as of the last business day of the year. At December 31, 2010 and 2009 the Company had no investments classified as securities owned on the balance sheet that were classified as Level 1 investments.

Recent Accounting Pronouncements

Accounting Standards Updates through number 2011-12 have been issued but do not apply to the Company.

F-8

NSU RESOURCES INC

(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)

(formerly Elemental Protective Coatings Corp., Inc)

(A Development Stage Company)

Notes to Financial Statements

December 31, 2011 and 2010

Note 2 – Significant Accounting Policies (continued)

Net loss per common share

Net loss per share is calculated in accordance with FASB ASC Topic 260 (formerly SFAS No. 128, Earnings Per Share). The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. Basic net loss per common share is based on the weighted average number of shares of common stock outstanding during the periods presented. The Company has two notes payable outstanding which can be converted to common shares. These currently do not have an impact on the weighted average shares outstanding calculation as they are considered anti-dilutive.

Foreign Currency Translation

The Company maintains a limited number of accounts in the Canadian dollar (CAD), while the Company’s reporting currency is the U.S. dollar (USD). All transactions initiated in Canadian dollars are translated into U.S. dollars in accordance with ASC 830, "Foreign Currency Translation" as follows:

i) Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date.

ii) Equity at historical rates.

iii) Revenue and expense items at the average rate of exchange prevailing during the period.

Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income.

For foreign currency transactions, the Company translates these amounts to the Company’s functional currency at the exchange rate effective on the invoice date. If the exchange rate changes between the time of purchase and the time actual payment is made, a foreign exchange transaction gain or loss results which is included in determining net income for the period. The exchange rates used are as follows:

	12/31/2011	12/31/2010
Period end: CAD to USD	0.9804	0.9998
Average for period: CAD to USD	1.0115	0.9705

Note 3 - Stockholders’ Equity

Common stock

The authorized common stock of the Company consists of 275,000,000 shares with a par value of $0.001. The authorized preferred stock of the Company consists of 5,000,000 shares with a par value of $0.001.

F-9

NSU RESOURCES INC

(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)

(formerly Elemental Protective Coatings Corp., Inc)

(A Development Stage Company)

Notes to ~~continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph~~Financial Statements

December 31, 2011 and eventually secure other sources of financing and attain profitable operations. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. 10 2010

Note 43 - ~~Reclassification: Stock Split Adjustment Certain reclassifications have been made in the current year's financial statements.~~ Stockholders’ Equity (continued)

Share Issuances

On July 7, 2009, the Board of Directors authorized and a majority of the stockholders of the Company ratified a forward stock split on a ten-for-one basis, resulting in a total of ten post-split shares for each pre-split share that was outstanding as of July 24, 2009. All references to share and per share information in the condensed financial statements and related notes have been adjusted to reflect the stock split on a retroactive basis. (See Note 7 for more information regarding the stock split). Note 5 - Intangible Assets The Company amortizes its acquired intangible assets with definite lives over a period of 20 years. The following table summarizes the components of gross and net intangible asset balances as of December 31, 2009 and 2008: 2009 2008 ---------------------------------- --------------------------------- Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount --------- ------------ -------- -------- ----------- ------ Definite lived $5,000,000 $ 29,167 $4,970,833 $ 0 $ 0 $ 0 Total intangible $5,000,000 $ 29,167 $4,970,833 $ 0 $ 0 $ 0
On November 19, 2009, the Company entered into an Assignment of Contract Rights with MSE Enviro-Tech Corp., a related party, whereby the Company obtained certain exclusive and non-exclusive rights pertaining to various products and technologies. As of December 31, 2009, the Company did not conduct an impairment evaluation on the newly acquired asset. Being the recentness of the transaction, the Company is still evaluating the economic life of the asset. The Company intends to review the carrying amount of the intangible asset on December 31, 2010, or sooner if circumstances warrant. 11 Note 6 - Income taxes For the years ended December 31, 2009 and 2008, the Company incurred net operating losses and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. At December 31, 2009 and 2008, the Company had approximately $169,391 and $81,667 of federal and state net operating losses. The net operating loss carryforwards, if not utilized, will begin to expire in 2027. The provision for income taxes consisted of the following components for the year ended December 31: Components of net deferred tax assets, including a valuation allowance, are as follows at December 31: December 31, 2009 2008 ------------------------- Deferred tax assets: Net operating loss carryforwards 59,287 28,583 Valuation allowance (59,287) (28,583) ------- ------- Total deferred tax asse $ -0- $ -0- ======== ======= The valuation allowance for deferred tax assets as of December 31, 2009 and 2008 was $59,287 and $28,583, respectively. In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of December 31, 2009 and 2008, and recorded a full valuation allowance. Reconciliation between the statutory rate and the effective tax rate is as follows at December 31, 2009: 2009 & 2008 Federal statutory tax rate (35.0)% Permanent difference and other 35.0 % 12 Note 7 - Debt obligations On February 22, 2009 and March 15, 2009, the Company issued two notes payable of $2,500 and $3,500, respectively, for an aggregate amount of $6,000. The notes were issued to one non-affiliated entity, bear no interest, and are due on demand. As of December 31, 2009, the balance due is $6,000. During the year ended December 31, 2009, the Company issued a note payable in the aggregate amount of $540 from one non-affiliated entity. The note bears no interest and was due on demand. On December 31, 2009, the note holder forgave the entire amount payable; thus as of December 31, 2009, $0 was due on these notes. Through the year ended December 31, 2009, the Company issued a note payable to one non-affiliated person in the aggregate amount of $9,170. The note bears no interest and was due on demand. On December 31, 2009, the note holder forgave the entire balance owed; thus as of December 31, 2009, $0 was due on these notes. On November 19, 2009, the Company issued a Convertible Promissory Note in the principal amount of $5,000,000 a related party entity, in exchange for the assignment of certain contractual rights with the note holder. The principal amount and interest accrued are due on November 16, 2011, bears an interest rate of 6% per annum and contains no prepayment penalty. The note holder may convert any portion of the unpaid principal balance, and interest accrued thereupon at the time of such conversion, into shares of common stock at the rate of $0.25 per share. The Company believes the fair market value for its common stock is $0.25 per share, and thus there exists no beneficial conversion feature on the note. (See Note 10 for more information concerning the Assignment). Note 8 - Stockholders' equity (deficit) The Company is authorized to issue 70,000,000 shares of its $0.001 par value common stock and 5,000,000 shares of its $0.001 par value preferred stock. On July 7, 2009, the Board of Directors authorized and a majority of the stockholders of the Company ratified a forward stock split on a ten-for-one basis, resulting in a total of ten post-split shares for each pre-split share that was outstanding as of July 24, 2009. All references to share and per share information in the condensed financial statements and related notes have been adjusted to reflect the stock split on a retroactive basis.

On January 17, 2007, the Company issued 50,000,000 shares of its par value common stock as founders' shares to two officers and directors in exchange for a subscription receivable in the amount of $5,000. The subscription receivable was satisfied on February 2, 2007, with a cash payment of $5,000. 13 Note 8 - Stockholders' equity (deficit) (continued) On July 30, 2007, an officer and director of the Company donated cash in the amount of $200. The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.

On August 6, 2007, the Company issued an aggregate of 6,300,000 shares of its $0.001 par value common stock for total cash of $31,500 in a private placement pursuant to Regulation D, Rule 505, of the Securities Act of 1933, as amended. On April 14, 2009, an officer and director of the Company donated cash in the amount of $100. The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.

On November 19, 2009, the Company repurchased and cancelled 43,000,000 shares of its common stock from two of its founding shareholders. On December 31, 2009, a non-affiliated entity forgave the entire balance of a note payable in the amount of $540. The forgiven amount is considered to be additional paid-in capital. On December 31, 2009, a non-affiliated individual forgave the entire balance of a note payable in the amount of $9,170. The forgiven amount is considered to be additional paid-in capital. As of December 31, 2009, there have been no other issuances of common stock. Note 9 - Warrants and options As of December 31, 2009 and 2008, there were no warrants or options outstanding to acquire any additional shares of common stock. Note 10 - Commitments and contingencies

On November 19, 2009, the Company entered into an Assignment of Contract Rights with MSE Enviro-Tech Corp., a related party, whereby the Company obtained certain exclusive and non-exclusive rights to manufacture, sell, share, license or otherwise distribute the products and technologies pertaining to various fire extinguishing and inhibiting products. In exchange,8, 2010, the Company issued a convertible note payable in the principal amount of $5,000,000. The principal amount and interest accrued have a maturity date of November 16, 2011, bears an interest rate of 6% per annum and contains no prepayment penalty. The note holder may convert any portion of the unpaid principal balance, and interest accrued thereupon at the time of such conversion, into shares of common stock at the rate of $0.25 per share. The Company believes the fair market value for its common stock is $0.25 per share, and thus there exists no beneficial conversion feature on the note. 14 Note 11 - Related party transactions On January 17, 2007, the Company issued 50,000,000 shares of its par value common stock as founders' shares to two officers and directors in exchange for a subscription receivable in the amount of $5,000. The subscription receivable was satisfied on February 2, 2007, with a cash payment of $5,000. On July 30, 2007, an officer and director of the Company donated cash in the amount of $200. The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital. On April 14, 2009, an officer and director of the Company donated cash in the amount of $100. The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital. On November 19, 2009, the Company repurchased and cancelled 43,000,000210,000,000 shares of its common stock ~~from two of its founding shareholders. On November 19, 2009,~~to purchase software technology valued at $2,100,000.

During the Company entered into an Assignment of Contract Rights with MSE Enviro-Tech Corp., a related party, whereby the Company obtained certain exclusive and non-exclusive rights to manufacture, sell, share, license or otherwise distribute the products and technologies pertaining to various fire extinguishing and inhibiting products. In exchange,year ending December 31, 2011, the Company issued a ~~convertible note payable in the principal amount~~total of $5,000,000. The note has a maturity date of November 16, 2011, bears an interest rate of 6% per annum and contains no prepayment penalty. The note holder may convert any portion of the unpaid principal balance, and interest accrued thereupon at the time of such conversion, into6,000,000 shares of ~~common stock at the rate of $0.25 per share. The Company believes the fair market value for~~ its common stock in settlement of wages and loans payable to its former directors for total consideration of $146,991.

~~During the year ending December 31, 2011, the Company issued a total of 24,000,000 shares of its common stock valued at $17,000 as a prepayment for future royalties.~~

~~During the year ending December 31, 2011, the Company issued a total of 100,000,000 shares of its common stock valued at $10,000 for the acquisition of mineral for two parcels of land.~~

~~There were 154,811,111 and 24,811,111 common shares issued and outstanding at December 31, 2011 and 2010, respectively.~~

~~Note 4 - Income Taxes~~

We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Pursuant to FASB ASC Topic 740, when it is ~~$0.25 per share, and thus there exists no beneficial conversion feature~~more likely than not that a tax asset cannot be realized through future income, the Company must allow for this future tax benefit. We provided a full valuation allowance on the ~~note.~~net deferred tax asset, consisting of net operating loss carry-forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry-forward period.

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences for the periods presented are as follows:

~~F-10~~

NSU RESOURCES INC

(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)

~~(formerly Elemental Protective Coatings Corp., Inc)~~

~~(A Development Stage Company)~~

~~Notes to Financial Statements~~

~~December 31, 2011 and 2010~~

~~Note 4 - Income Taxes (continued)~~

December 31, 2011 December 31, 2010
Net operating loss carry forward $ 2,392,139 $ 2,370,181
Valuation allowance (2,2392,139) (2,370,181)
Net deferred tax asset $ - $ -
This represents an increase in both the net operating loss carry forward and the valuation allowance of $66,958 and $2,254,478 for the years ended December 31, 2011 and 2010. A reconciliation of income taxes computed at the 35% statutory rate to the income tax recorded is as follows:
December 31, 2011 December 31, 2010
Tax at statutory rate (35%) $ 837,249 $ 829,563
Increase in valuation allowance (837,249) (829,563)
Net deferred tax asset $ - $ -
This represents an increase of $23,435 and $792,567 for the years ended December 31, 2011 and 2010. The Company ~~does~~did not ~~lease~~pay any income taxes during the years ended December 31, 2011 or ~~rent any property. Office services~~2010 or since inception.
The net federal operating loss carry forward will expire in 2026. This carry forward may be limited upon the consummation of a business combination under IRC Section 381.
Note 5 - Related Party Transactions
During the years ended December 31, 2011 and 2010, the Company received loans from its officers totaling $4,261 and $8,066 to fund operations. These loans are ~~provided without charge by an officer~~non-interest bearing, are due on demand and ~~director of the Company. Such costs are~~as such included in current liabilities. Imputed interest has been considered, but determined to be immaterial to the financial statements as a whole.
F-11
NSU RESOURCES INC
(formerly BIO-CARBON SOLUTIONS INTERNATIONAL, INC.)
(formerly Elemental Protective Coatings Corp., Inc)
(A Development Stage Company)
Notes to Financial Statements
December 31, 2011 and ~~accordingly, have not been reflected therein.~~2010
Note 6 – Impairment Loss
During the year ended December 31, 2010, the Company issued 23,333,333 shares of its common stock in exchange for technology vital to its business plan. The ~~officers~~Company performed an impairment test on the value of this asset as of December 31, 2010 and ~~directors~~determined its value to be impaired based on the undeterminable amount of future benefit expected to be received. As such, the value of the ~~Company are involved in other business activities and may,~~intangible asset as been impaired reflecting a $2,100,000 loss in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policystatement of operations for the ~~resolution of such conflicts. 15~~ year ended December 31, 2010.
Note ~~12 -Subsequent~~7 – Subsequent Events
The Company has evaluated subsequent events through ~~April 8, 2010,~~ the date ~~which the financial statements were available~~of this filing and determined there are none to ~~be issued. The Company has determined that there were no such events that warrant disclosure or recognition in the financial statements. 16~~ SIGNATURES In accordance with Section 13 or 15(a) of the Exchange Act, the Registrant has caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized on the 30th day of March 2010. ELEMENTAL PROTECTIVE COATINGS CORP. By:/s/ Gilles Trahan ------------------------------------ Gilles Trahan, President and Principal Executive Officer By: /s/ Martin Baldwin ------------------------------------ Martin Baldwin, Principal Financial and Accounting Officer Pursuant to the requirements of the Securities Act of l934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. Title Date /s/ Gilles Trahan - ------------------------ Gilles Trahan Director March 30, 2010 /s/ Martin Baldwin - ------------------------ Martin Baldwin Director March 30, 2010 ~~ELEMENTAL PROTECTIVE COATINGS CORP. REPORT ON FORM 10-K EXHIBITS~~

disclose.
F-12

	December 31, 2011		December 31, 2010
Net operating loss carry forward	$	2,392,139	$	2,370,181
Valuation allowance		(2,2392,139)		(2,370,181)
Net deferred tax asset	$	-	$	-

	December 31, 2011			December 31, 2010
Tax at statutory rate (35%)	$	837,249	$	829,563
Increase in valuation allowance		(837,249)		(829,563)
Net deferred tax asset	$	-	$	-