UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549  FORM 10-QSB/A  (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended: December 31, 2007[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from N/A to N/A  Commission file number: 000-27145  SOCIALWISE, INC. (Name of small business issuer in its charter)  Colorado33-0756798(State or jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)  6440 Lusk Blvd., Suite 200San Diego California92121(Address and of principal executive offices)(Zip Code)   (858) 677-0080 (Issuers telephone number, including area code)  IdeaEdge, Inc. (Issuers former name)   Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  x    No  oIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  o   No  x  At February 13, 2008, there were 12,511,587 shares outstanding of the issuer’s common stock, the only class of common equity, as adjusted for the October 16, 2007 25-to-1 reverse split of our common stock.  Transitional Small Business Disclosure Format (Check one):  Yes  o   No  x  Explanatory Note: This Amendment No. 1 to Socialwise, Inc.’s (formerly known as IdeaEdge, Inc.) Quarterly Report on Form 10-QSB for the quarterly period ended December 31, 2007 is being filed solely to amend the information included herein with respect to Item 3  Controls and Procedures.  Accordingly, this Amendment No. 1 should be read in conjunction with our Quarterly Report on Form 10-QSB for the quarterly period ended December 31, 2007 filed with the Securities and Exchange Commission on February 14, 2008.   Item 3  Controls and Procedures Disclosure Controls and Procedures  We maintain disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commissions rules and forms and that such information is accumulated and     communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable, and not absolute, assurance of achieving the desired control objectives. In reaching a reasonable level of assurance, management necessarily was required to apply its judgment in evaluating the cost benefit relationship of possible controls and procedures and internal controls. As required by the Securities and Exchange Commission Rule 13a-15(e) and Rule 15d-15(e), we carried out an evaluation, under the supervision of and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level. Changes in Internal Controls over Financial Reporting There have been no changes in our internal control over financial reporting during the first quarter of fiscal 2008 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.     SIGNATURES  In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.  Socialwise, Inc., a Colorado corporation  By: /s/ JAMES COLLAS James Collas, Chief Executive Officer  May 8, 2009  By: /s/ JONATHAN SHULTZ Jonathan Shultz, Chief Financial Officer  May 8, 2009