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

FORM 10-Q10-Q/A-1

[X]
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED AUGUST 31, 2014
FEBRUARY 28, 2015
OR
[   ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Commission File Number 000-53346

NET SAVINGS LINK, INC.
(Exact name of registrant as specified in its charter)

Nevada
(State of incorporation)

4747 – 204747-20 Nesconset Highway
Port Jefferson, NY   11776
(Address of principal executive offices) (Zip Code)

(516) 246-6435
(Registrant's telephone number, including area code)number)

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

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

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

Large Accelerated Filer[   ]Accelerated Filer[   ]
Non-accelerated Filer (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).
YES [   ]     NO [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.
As of OctoberApril 17, 2014,2015, there were 1,057,484,0752,832,837,408 shares of the registrant's $0.001 par value common stock issued and outstanding.
 



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REASON FOR AMENDMENT

The sole purpose of this Amendment to the Registrant's Quarterly Report on Form 10-Q for the period ended February 28, 2015 is to furnish the Interactive Data File exhibits pursuant to Rule 405 of Regulation S-T. No other changes have been made to this Form 10-Q and this Amendment has not been updated to reflect events occurring subsequent to the filing of this Form 10-Q.

TABLE OF CONTENTS 
Page
  
PART I.  FINANCIAL INFORMATION
 
   
ITEM 1.
FINANCIAL STATEMENTS3
   
 
Consolidated Balance Sheets
3
 
Consolidated Statements of Operations
4
 
Consolidated Statements of Cash Flows
5
 
Notes to the Consolidated Financial Statements
6
ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.
OPERATIONS		10
9
ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.12
11
ITEM 4.
CONTROLS AND PROCEDURES.1211
   
PART II.  OTHER INFORMATION
 
   
ITEM 1A.
RISK FACTORS.12
   
ITEM 2.
UNREGISTERED SALE OF EQUITY SECURITIES.12
   
ITEM 5.
OTHER INFORMATION.12
   
ITEM 6.
EXHIBITS.13
   
Signatures
14
  
Exhibit Index
15


Special Note Regarding Forward-Looking Statements

Information included in this Form 10-Q contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Net Savings Link, Inc. (the "Company"), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

*Please note that throughout this Quarterly Report, except as otherwise indicated by the context, references in this report to "Company", "we", "us" and "our" are references to Net Savings Link, Inc. 

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PART I - FINANCIAL INFORMATION

ITEM 1.        FINANCIAL STATEMENTS.

NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Balance Sheets
(Unaudited)


 
August 31,
2014
  
February 28,
2015
  
November 30,
2014
 
ASSETS      
      
Current assets      
Cash $13,909  $72,425  $9,756 
Other current assets  5,889   7,675   3,249 
            
Total Current Assets  19,798   80,100   13,005 
            
TOTAL ASSETS $19,798  $80,100  $13,005 
            
LIABILITIES AND STOCKHOLDERS' DEFICIT    
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)        
            
Current Liabilities:            
Accounts payable and accrued liabilities $60,519  $143,733  $103,455 
    
Derivative liabilities  196,379   177,735   390,020 
Convertible notes payable, net of debt discount of $22,203  173,777 
Note payable, related party  2,000   2,000 
Convertible notes payable, net of debt discount of $40,556 and $23,900,
respectively
  192,694   157,020 
            
Total Current Liabilities  430,675   516,162   652,495 
            
STOCKHOLDERS' DEFICIT    
Series A Preferred Stock, $0.00001 par value, 1,000,000,000 shares
authorized, 1,500,000 shares issued and outstanding
  15 
Common stock, $0.001 par value, 1,000,000,000 shares authorized,
603,351,218 shares issued and outstanding
  603,350 
STOCKHOLDERS' EQUITY(DEFICIT)        
Series A Preferred Stock, $0.0001 par value, 1000,000,000 shares
authorized, 1,500,000 shares issued and outstanding
  15   15 
Common stock, $0.001 par value, 1,000,000,000 shares authorized,
2,615,087,408 and 1,593,677,408 shares issued and outstanding
  2,615,088   1,593,678 
Additional paid-in capital  (945,107)  (2,053,318)  (1,279,643)
Accumulated deficit  (69,135)  (997,847)  (953,540)
            
Total Stockholders' deficit  (410,877)
Total Stockholders' Equity (deficit)  (436,062)  (639,490)
            
TOTAL LIABILITIES AND STOCKHOLDERS'DEFICIT $19,798 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $80,100  $13,005 




The accompanying notes are an integral part of these unaudited consolidated financial statements.
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NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Statements of Operations
(Unaudited)


 
For the Three
Months Ended
August 31,
2014
  
From
Inception on
May 5, 2014
Through
August 31,
2014
  
For the Three
Months Ended
February 28,
2015
 
      
REVENUES $-  $-  $- 
            
OPERATING EXPENSES            
General and administrative  84,912   84,912 
            
General and administrative expense  70,569 
Total Operating Expenses  84,912   84,912   70,569 
            
OPERATING LOSS  (84,912)  (84,912)  (70,569)
            
OTHER INCOME (EXPENSE)            
Gain on derivative  72,382   72,382 
    
Gain (loss) on derivative  124,236 
Interest expense  (56,605)  (56,605)  (97,974)
Total Other Income (Expense)  15,777   15,777   26,262 
            
NET LOSS $(69,135) $(69,135) $(44,307)
        
BASIC NET LOSS PER COMMON SHARE $(0.00)  (0.00)
        
BASIC WEIGHTED AVERAGE NUMBER
OF COMMON SHARES OUTSTANDING
  287,956,154   224,508,188 
BASIC AND DILUTIVE NET LOSS PER COMMON SHARE $(0.00)
BASIC AND DILUTIVE WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING
  2,026,627,408 


















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

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NET SAVINGS LINK, INC. AND SUBSIDIARY
Consolidated Statements of Cash Flows
(Unaudited)

  
For the Three
Months Ended
February 28,
 
  2015 
   
CASH FLOWS FROM OPERATING ACTIVITIES  
   
Net loss $(44,307)
Items to reconcile net loss to net cash used in operating activities:    
Debt discount amortization  89,344 
Debt offering cost amortization  4,574 
Gain on derivative  (124,236)
Changes in operating assets and liabilities    
Increase in other assets    
Increase in accounts payable and accrued liabilities  42,294 
Net Cash Used in Operating Activities  (32,331)
     
CASH FLOWS FROM FINANCING ACTIVITIES    
     
Proceeds from convertible notes payable  104,000 
Cash paid for debt offering costs  (9,000)
Net Cash Provided by Financing Activities  95,000 
     
INCREASE IN CASH  62,669 
     
CASH AT BEGINNING OF PERIOD  9,756 
     
CASH AT END OF PERIOD $72,425 
     
CASH PAID FOR:    
Interest $- 
Income taxes $- 
     
NON-CASH FINANCING ACTIVITIES:    
     
Common stock issued for convertible notes and accrued interest $53,686 
Discount on convertible notes payable from derivative instrument $106,000 
Settlement of derivative liability to additional paid-in capital $194,049 

  
From Inception on May 5, 2014
Through
August 31, 2014
 
   
CASH FLOWS FROM OPERATING ACTIVITIES  
   
Net loss $(69,135)
Items to reconcile net loss to net cash used in operating activities:    
Debt discount amortization  9,237 
Debt offering cost amortization  2,010 
Gain on derivative  (72,382)
Penalty on default of convertible promissory notes  36,978 
Changes in operating assets and liabilities:    
Increase in accounts payable and accrued liabilities  7,201 
Net Cash Used in Operating Activities  (86,091)
     
CASH FLOWS FROM FINANCING ACTIVITIES    
     
Proceeds from convertible notes payable  106,000 
Cash paid for debt offering costs  (6,000)
Net Cash Provided by Financing Activities  100,000 
     
INCREASE (DECREASE) IN CASH  13,909 
     
CASH AT BEGINNING OF PERIOD  - 
     
CASH AT END OF PERIOD $13,909 
     
CASH PAID FOR:    
Interest $- 
Income taxes $- 
     
NON-CASH FINANCING ACTIVITIES:    
     
Common stock issued for convertible notes and accrued interest $91,848 
Settlement of derivative liability to additional paid-in capital $304,197 
Net liabilities of NSL assumed by GDI upon acquisition $739,686 




The accompanying notes are an integral part of these unaudited consolidated financial statements.
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NET SAVINGS LINK, INC. AND SUBSIDIARY
Notes to the Unaudited Consolidated Financial Statements


1.Nature of Operations and Continuance of Business
1.Nature of Operations and Continuance of Business

The unaudited interim consolidated financial statements included herein have been prepared by Net Savings Link, Inc. and its wholly owned subsidiary Global Distribution Network, Inc. (collectively, "NSL" or the "Company") in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission. We believe that all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein and that the disclosures made are adequate to make the information not misleading.  The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements as would be required to be reported in Form 10-K have been omitted.

On June 18, 2014, NSL entered into a Share Exchange Agreement with Global Distribution Inc. ("GDI"), incorporated in the State of New York on May 5, 2014; David Saltrelli and Peter Schuster, holders of all of the issued and outstanding shares of Series A Preferred Stock of NSL; and, Steven Baritz, the sole shareholder of GDI. As a result of the Share Exchange Agreement, Steven Baritz acquired all of the issued and outstanding shares of Series A preferred stock of NSL (1,500,000 shares) from David Saltrelli and Peter Schuster in exchange for Baritz transferring all of the issued and outstanding shares of common stock of GDI to NSL. The shares of Series A preferred stock have 1,000 votes each and represent approximately 66.18% of NSL's voting power.

Effective June 18, 2013, Steven Baritz was appointed to the board of directors and appointed president, principal executive officer, secretary, treasurer, principal financial officer, and principal accounting officer, David Saltrelli, Peter Schuster, and Jon Wallen resigned as officers and directors.  David Saltrelli and Peter Schuster, will continue to own 7,200,000 shares of our common stock and in the event of any action which causes a reduction in said shares, the Company will issue additional shares of common stock to David Saltrelli and Peter Schuster in order to maintain their ownership in 7,200,000 shares of the common stock.

For accounting purposes, the Share Exchange Agreement is being accounted for as a recapitalization of NSL, with GDI considered the accounting acquirer. GDI had no assets or liabilities and NSL did not recognize goodwill or any intangible assets as a result of the transaction.  NSL had $739,686 of net liabilities at the date of the transaction. The historical consolidated financial statements presented include only the operations of GDI since its inception and NSL since June 18, 2014.  The Company selected November 30 as its fiscal year end.

2.    Going Concern

NSL's financial statements are prepared using Generally Accepted Accounting Principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.  However, NSL has generated minimal revenue and accumulated significant losses since inception. As of August 31, 2014,February 28, 2015, company has accumulated deficit of $69,135$997,847 and a working capital deficit of $410,877.$436,062. All of these items raise substantial doubt about its ability to continue as a going concern.  Management's plans with respect to alleviating the adverse financial conditions that caused management to express substantial doubt about the NSL's ability to continue as a going concern are as follows:

In order to fund the start-up of operations during the year ended November 30, 2014, NSL entered into several financing transactions and continues to try to raise funds in 2014.2015. The continuation of NSL as a
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going concern is dependent upon its ability to generating profitable operations that produce positive cash flows.  If NSL is not successful, it may be forced to raise additional debt or equity financing.

There can be no assurance that NSL will be able to achieve its business plans, raise any more required capital or secure the financing necessary to achieve its current operating plan.  The ability of NSL to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

3.    Convertible Promissory Notes Payable

During the period ended August 31, 2014,February 28, 2015, the holder of fourtwo Convertible Promissory Notes elected to convert a total of $91,848$51,670 in principal and $2,016 in interest into 422,520,6961,021,410,000 shares of the Company's common stock at an average conversion priceprices of $0.0002between $0.00003 to $0.00012 per share.

During JuneDecember 2014, NSL issued an Unsecured Convertible Promissory NotesNote for $53,000$104,000 (the "June"December 2014 Convertible Promissory Note").  The JuneDecember 2014 Convertible Promissory Note is unsecured, due approximately nine months from the date of issuance, accrues interest at 8% per annum and is convertible into shares of NSL's common stock 180 days fromat any time at the dateoption of issuance.the holder.  The JuneDecember 2014 Convertible Promissory Note is convertible at a discount from market of 55% of the average of the three lowest bid prices during the twentyfifteen trading days prior to the conversion date.

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During June 2014, as a resultTable of the Company's failure to pay amounts due under certain assumed convertible promissory notes from NSL, the Company incurred a penalty of $36,978, which was added to the principal amounts of the respective outstanding Convertible Promissory Notes.

During July 2014, NSL issued an Unsecured Convertible Promissory Note for $53,000 (the "July 2014 Convertible Promissory Note").  The July 2014 Convertible Promissory Note is unsecured, due nine months from the date of issuance, convertible 180 days from the date of issuance, accrues interest at 8% per annum and is convertible at a discount from market of 55% of the average of the three lowest bid prices during the twenty trading days prior to the conversion date.Contents

4.    Derivative Liabilities

NSL analyzed the conversion options embedded in the Convertible Promissory Notes for derivative accounting consideration under ASC 815, Derivatives and Hedging, and determined that the instruments embedded in the above referenced convertible promissory notes should be classified as liabilities and recorded at fair value due to their being no explicit limit to the number of shares to be delivered upon settlement of the conversion options. Additionally, the above referenced convertible promissory notes contain dilutive issuance clauses.  Under these clauses, based on future issuances of NSL's common stock or other convertible instruments, the conversion price of the above referenced convertible promissory notes can be adjusted downward. Because the number of shares to be issued upon settlement of the above referenced convertible promissory notes cannot be determined under this instrument, NSL cannot determine whether it will have sufficient authorized shares at a given date to settle any other future share instruments. 

During the period ended August 31, 2014, oneFebruary 28, 2015, two Convertible Promissory Notes became convertible into shares of the Company's common stock. The fair value of the conversion options was determined to be $62,279$267,374 using a Black-Scholes option-pricing model.  Upon the date the Convertible Promissory Notes became convertible, $23,700$106,000 was recorded as debt discount and $38,579$161,374 was recorded as day one loss on derivative liability.  

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During the period ended August 31, 2014, $91,848February 28, 2015, $53,686 in principal and accrued interest on Convertible Promissory Notes was converted into common stock, $304,197$194,049 in related derivative liability was extinguished through a charge to paid-in capital and $72,382$124,236 was recorded as a net gain on mark-to-market of the conversion options and warrants.

The following table summarizes the derivative liabilities included in the balance sheet at August 31, 2014:February 28, 2015:

Derivative liabilities May 5, 2014 (Inception) $- 
Assumption of derivative due to merger  572,958 
Reclassification of derivative liability to additional paid-in capital due to
promissory note conversions
  (304,197)
Gains on change in fair value  (72,382)
Balance at August 31, 2014 $196,379 
Derivative liabilities November 30, 2014 $390,020 
Day one loss due to convertible debt  161,373 
Debt discount  106,000 
Reclassification of derivative liability to additional paid-in capital due to
promissory note conversions
  (194,049)
Gains on change in fair value  (285,609)
Balance at February 28, 2015 $177,735 

The following table summarizes the loss on derivative liabilities included in the income statement for the period ended August 31, 2014:February 28, 2015:

Excess of fair value of conversion option derivative liabilities over the related
notes payable
 $(38,597)
Fair value of convertible note default principal penalty  (828,082)
Day one loss due to convertible debt $(161,373)
Gains on change in fair value  794,297   285,609 
Gain on derivative liabilities $72,382  $124,236 

NSL valued its derivatives liabilities using the Black-Scholes option-pricing model.  Assumptions used during the period ended August 31, 2014February 28, 2015 include (1) risk-free interest rates between 0.04%0.02% to 1.53%1.51%, (2) lives of between 0 and 4.764.26 years, (3) expected volatility of between 200%421% to 409%925%, (4) zero expected dividends, (5) conversion prices as set forth in the related instruments, and (6) the common stock price of the underlying share on the valuation dates.

5.    Common Stock

During June 2014,the three months ended February 28, 2015, the Company issued 45,336,6541,021,410,000 shares of common stock for $20,542$51,670 of debt, or $0.0004 per share.

During July 2014, the Company issued 151,112,613 shares of common stock for $37,520 ofconvertible debt and $2,136$2,016 of accrued interest, or $0.0002$0.0001 per share.

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During August 2014, the Company issued 226,071,429 sharesTable of common stock for $31,650 of debt, or $0.0002 per share.Contents

6.    Financial Instruments

ASC 820, Fair Value Measurements (ASC 820) and ASC 825, Financial Instruments (ASC 825), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 - Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

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Level 2 - Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 - Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

NSL's financial instruments consist principally of cash, accounts payable, and accrued liabilities. Pursuant to ASC 820 and 825, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

The following table sets forth by level with the fair value hierarchy the Company's financial assets and liabilities measured at fair value on August 31, 2014:February 28, 2015:

Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 
Assets        
None $-  $-  $-  $-  $-  $-  $-  $- 
Liabilities                                
Derivative financial instruments $-  $-  $196,379  $196,379  $-  $-  $177,735  $177,735 

7.    Subsequent Events

During September 2014,March 2015, the Company issued 337,142,857207,750,000 shares of common stock for $36,240$7,250 of debt and $1,060 of accrued interest, or $0.0001$0.00004 per share.

During October 2014,March 2015, the Company issued 117,000,000its Chief Executive Officer 1,000,000 shares of commonSeries A preferred stock for $4,680accrued wages of debt, or $0.0004$67,000 and repayment of a short-term loan of $2,000.

During April 2015, the Company entered into an employment agreement with it Vice President of Operations.  The employment agreement provides for an annual salary of $79,000 per share.
We amended our articlesyear, participation in future stock incentive programs, 1,750,000 share of incorporation to increase our authorizedthe Company's Series A preferred stock and the issuance of 10,000,000 shares of the Company's common stock from 1,000,000,000 shares to 3,000,000,000 shares with a par value of $0.001 per share.





stock.



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

FORWARD-LOOKING STATEMENTS

This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements.  You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms.  These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements.  Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

RESULTS OF OPERATIONS

Working Capital

 August 31,  February 28,  November 30, 
 2014  2015  2014 
Current Assets $19,798  $80,100  $13,005 
Current Liabilities  430,675   516,162   652,495 
Working Capital (Deficit) $(410,877) $436,062  $(639,490)

Cash Flows

  
From Inception on
May 5, 2014
Through
 
  August 31, 2014 
Cash Flows Used in Operating Activities $(86,091)
Cash Flows Used in Investing Activities
Cash Flows Provided by Financing Activities
  - 
  100,000 
 
Net Increase (Decrease) in Cash During Period $13,909 
  
For the Three
Months Ended
February, 2015
 
Cash Flows Used in Operating Activities $(32,331)
Cash Flows Provided by Financing Activities  95,000 
Net Increase in Cash During Period $72,425 

Balance Sheet

As at August 31, 2014,February 28, 2015, the Company had total assets of $19,798.$80,100.  The assets are mainly comprised of prepaid expenses and cash balances in the Company's bank account.

The Company had total liabilities of $430,675$516,162 at August 31, 2014.February 28, 2015.  The liabilities are comprised of $196,379$177,735 in derivative liabilities, $173,777$192,694 in convertible promissory notes payable, $2,000 in notes payable to a related party and $60,519$143,733 in accounts payable and accrued expenses.

Conversion of Notes to Shares of Common Stock

We have convertible promissory notes outstanding, the holder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  During the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock (equity) as follows:
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Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date  Conversion Amount  Shares of Common Stock 
 1-23-2015  $1,950.00   48,750,000 
 1-28-2015  $3,680.00   92,000,000 
 2-9-2015  $4,540.00   113,500,000 
 2-11-2015  $4,540.00   113,500,000 
 2-19-2015  $4,540.00   113,500,000 
 3-17-2015  $2,250.00   77,500,000 

Note dated April 17, 2014 in the principal amount of $5,000.00.  After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock.

Date  Conversion Amount  Shares of Common Stock 
 3-26-2015  $5,000.00   130,000,000 

Operating Revenues

The Company received $0 in revenue during the period ended August 31, 2014.
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Operating Expenses

During the period ended August 31, 2014,February 28, 2015, the Company incurred operating expenses totaling $84,912,$70,569, comprised of general and administrative expenses.

Net Loss

During the period ended August 31, 2014,February 28, 2015, the Company realized net loss of $69,135,$44,307, comprised of $84,912$70,569 of operating expenses, $56,605$97,974 in interest expense and a gain of $72,382$124,236 on derivative.

Liquidity and Capital Resources

As at August 31, 2014,February 28, 2015, the Company had a cash balance of $13,909,$72,425, total assets of $19,798,$80,100, total liabilities of $430,675,$516,162, and a working capital deficit of $410,877.$436,062.

Cash Flows from Operating Activities

During the period ended August 31, 2014,February 28, 2015, the Company used $86,091$32,331 of cash flow from operating activities, mainly due to the $69,135$44,307 net loss during the period ended August 31, 2014.February 28, 2015.

Cash Flows from Investing Activity

The Company did not have any investing activities during the period ended August 31, 2014.February 28, 2015.

Cash Flows from Financing Activities

During the period ended August 31, 2014,February 28, 2015, the Company received proceeds of $106,000$104,000 from threea convertible promissory notes,note, which areis unsecured, convertible into the common stock of the Company, due interest at 8% per annum and maturematures approximately nine months from the dates of issuance.


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Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing. 

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Future Financings

We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and exploration activities.


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Table of ContentsEmployment Agreement

On April 5, 2015, we entered into an employment agreement with David M. Pecoraro ("Pecoraro") employing Pecoraro as Vice President of Operations.  Mr. Pecoraro has no previous experience functioning as an executive officer of a public company.  Pecoraro will be paid a salary of $79,000.00 per year plus compensation for overtime hours.  Overtime hours means the total hours worked in a day or week in excess of the maximum allowed, as defined by local statute, for a work day or work week. 

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

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


ITEM 4.        CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are not effective because procedures were not in place to provide for timely, complete, accurate reporting of events.  The foregoing was a result of our president's lack of experience with his reporting and disclosure obligations, lack of proper segregation of duties due to limited personnel, and a lack of formal review process that includes multiple levels of review, resulting in audit adjustments related to the derivative liability account, accounting of the Company's convertible debt instruments and conversions and bad debt.  Our president is committed to educating himself through the seminars and consulting with attorneys to become fully knowledgeable with his obligations. In addition, currently there are no written policies or procedures that clearly define the roles in the disclosure and reporting process.  

There were no changes in our internal control over financial reporting during the quarter ended August 31, 2014February 28, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

IITEMTEM 1A.  RISK FACTORS.

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


ITEM 2.        UNREGISTERED SALE OF EQUITY SECURITIES.

DuringWe have convertible promissory notes outstanding, the quarter ended August 31, 2014, we issued 422,520,696 restrictedholder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  TheDuring the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock were issued(equity) as follows:

Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date  Conversion Amount  Shares of Common Stock 
 1-23-2015  $1,950.00   48,750,000 
 1-28-2015  $3,680.00   92,000,000 
 2-9-2015  $4,540.00   113,500,000 
 2-11-2015  $4,540.00   113,500,000 
 2-19-2015  $4,540.00   113,500,000 
 3-17-2015  $2,250.00   77,500,000 

Note dated April 17, 2014 in the principal amount of $5,000.00.   After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock.

Date  Conversion Amount  Shares of Common Stock 
 3-26-2015  $5,000.00   130,000,000 

The foregoing unregistered sale of securities was made pursuant to the exemption from registration contained in Section 4(a)(4)(a)(2) of the Securities Act of 1933, as amended. The shares were issued to retire debt of $89,712.amended in that the transaction did not involve a public offering.


ITEM 5.        OTHER INFORMATION.

DuringWe have convertible promissory notes outstanding, the quarter ended August 31, 2014, we issued 422,520,696 restrictedholder of which is Asher Enterprises, Inc., a New York Corporation.  Under the terms of the promissory notes, Asher may convert the amount owed to it to shares of common stock.  TheDuring the first quarter (December 1, 2014 to February 28, 2015) and the first month of the second quarter, Asher converted debt to shares of common stock were issued(equity) as follows:

Note dated June 2, 2014, as amended June 11, 2014, in the principal amount of $21,500.00.  After the following conversions occurred, we owe $860.00 in interest which may be converted to common stock.

Date  Conversion Amount  Shares of Common Stock 
 1-23-2015  $1,950.00   48,750,000 
 1-28-2015  $3,680.00   92,000,000 
 2-9-2015  $4,540.00   113,500,000 
 2-11-2015  $4,540.00   113,500,000 
 2-19-2015  $4,540.00   113,500,000 
 3-17-2015  $2,250.00   77,500,000 

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Note dated April 17, 2014 in the principal amount of $5,000.00.  After the following conversions occurred, we owe $200.00 in interest which may be converted to common stock. 

Date  Conversion Amount  Shares of Common Stock 
 3-26-2015  $5,000.00   130,000,000 

The foregoing unregistered sale of securities was made pursuant to the exemption from registration contained in Section 4(a)(4)(a)(2) of the Securities Act of 1933, as amended.  amended in that the transaction did not involve a public offering.

We failed to file a Form 8-K in connection with the foregoing. The shares were issued to retire debt of $89,712.foregoing transactions.


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ITEM 6.        EXHIBITS.

  Incorporated by referenceFiled
ExhibitDocument DescriptionFormDateNumberherewith
      
3.1Articles of Incorporation.S-16/09/083.1 
      
3.2Bylaws.S-16/09/083.2 
      
3.3Amended Articles of Incorporation.8-K8/06/123.1 
      
4.1Specimen Stock Certificate.S-16/09/084.1 
      
10.1Equity Purchase Agreement with Southridge Partners II, LP.10-Q4/23/1210.3 
      
10.2Stock Exchange Agreement with Global Distribution Inc.    X
      
14.1Code of Ethics.S-16/09/0814.1 
      
31.1
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
   X
      
32.1
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
   X
      
99.1Certificate of Designation.8-K8/06/1299.1 
      
101.INSXBRL Instance Document.    
      
101.SCHXBRL Taxonomy Extension – Schema.    
      
101.CALXBRL Taxonomy Extension – Calculations.    
      
101.DEFXBRL Taxonomy Extension – Definitions.    
      
101.LABXBRL Taxonomy Extension – Labels.    
      
101.PREXBRL Taxonomy Extension – Presentation.    


  Incorporated by referenceFiled
ExhibitDocument DescriptionFormDateNumberherewith
      
3.1Articles of Incorporation.S-16/09/083.1 
      
3.2Bylaws.S-16/09/083.2 
      
3.3Amended Articles of Incorporation.8-K8/06/123.1 
      
4.1Specimen Stock Certificate.S-16/09/084.1 
      
10.1Equity Purchase Agreement with Southridge Partners II, LP.10-Q4/23/1210.3 
      
10.2Employment Agreement – David M. Pecoraro.  10.1X
      
14.1Code of Ethics.S-16/09/0814.1 
      
31.1
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
   X
      
32.1
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
   X
      
99.1Certificate of Designation.8-K8/06/1299.1 
      
101.INSXBRL Instance Document.   X
      
101.SCHXBRL Taxonomy Extension – Schema.   X
      
101.CALXBRL Taxonomy Extension – Calculations.   X
      
101.DEFXBRL Taxonomy Extension – Definitions.   X
      
101.LABXBRL Taxonomy Extension – Labels.   X
      
101.PREXBRL Taxonomy Extension – Presentation.   X
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SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized on this 2021thst day of October, 2014.April, 2015.

 NET SAVINGS LINK INC.
 (the "Registrant")
   
 BY:
STEVEN BARITZ
  Steven Baritz
  
President, Principal Executive Officer,
Principal Accounting Officer, Principal Financial Officer and a member
of the Board of Directors


























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EXHIBIT INDEX

 Incorporated by referenceFiled Incorporated by referenceFiled
ExhibitDocument DescriptionFormDateNumberherewithDocument DescriptionFormDateNumberherewith
        
3.1Articles of Incorporation.S-16/09/083.1 Articles of Incorporation.S-16/09/083.1 
        
3.2Bylaws.S-16/09/083.2 Bylaws.S-16/09/083.2 
        
3.3Amended Articles of Incorporation.8-K8/06/123.1 Amended Articles of Incorporation.8-K8/06/123.1 
        
4.1Specimen Stock Certificate.S-16/09/084.1 Specimen Stock Certificate.S-16/09/084.1 
        
10.1Equity Purchase Agreement with Southridge Partners II, LP.10-Q4/23/1210.3 Equity Purchase Agreement with Southridge Partners II, LP.10-Q4/23/1210.3 
    
10.2 Stock Exchange Agreement with Global Distribution Inc.XEmployment Agreement – David M. Pecoraro.  10.1 
        
14.1Code of Ethics.S-16/09/0814.1 Code of Ethics.S-16/09/0814.1 
        
31.1
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
  X
Certification of Principal Executive Officer and Principal
Financial Officer pursuant to Section 302 of the Sarbanes-
Oxley Act of 2002.
  X
        
32.1
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
  X
Certification of Chief Executive Officer and Chief Financial
Officer pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
  X
        
99.1Certificate of Designation.8-K8/06/1299.1 Certificate of Designation.8-K8/06/1299.1 
        
101.INSXBRL Instance Document.   XBRL Instance Document.  X
        
101.SCHXBRL Taxonomy Extension – Schema.   XBRL Taxonomy Extension – Schema.  X
        
101.CALXBRL Taxonomy Extension – Calculations.   XBRL Taxonomy Extension – Calculations.  X
        
101.DEFXBRL Taxonomy Extension – Definitions.   XBRL Taxonomy Extension – Definitions.  X
        
101.LABXBRL Taxonomy Extension – Labels.   XBRL Taxonomy Extension – Labels.  X
        
101.PREXBRL Taxonomy Extension – Presentation.   XBRL Taxonomy Extension – Presentation.  X




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