UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   Form 10-QSB
--------------------------------------------------------------------------------

(Mark one)
[X] Quarterly Report Under Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the quarterly period ended March 31, 2008

[ ] Transition Report Under Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the transition period from ______________ to _____________

--------------------------------------------------------------------------------

                        Commission File Number: 33-56574

                              Truewest Corporation
        (Exact name of small business issuer as specified in its charter)

        Nevada                                                 25-1605848
(State of incorporation)                                (IRS Employer ID Number)

                     211 West Wall Street, Midland, TX 79701
                    (Address of principal executive offices)

                                 (432) 682-1761
                           (Issuer's telephone number)

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

--------------------------------------------------------------------------------

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 [ ]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act): YES [X] NO [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: April 29, 2008: 52,000

Transitional Small Business Disclosure Format (check one): YES [ ] NO [X]
<PAGE>
                              TRUEWEST CORPORATION

                Form 10-QSB for the Quarter ended March 31, 2008

                               Table of Contents

                                                                            Page
                                                                            ----
PART I - FINANCIAL INFORMATION

  Item 1 Financial Statements                                                 3

  Item 2 Management's Discussion and Analysis or Plan of Operation           15

  Item 3 Controls and Procedures                                             17

PART II - OTHER INFORMATION

  Item 1 Legal Proceedings                                                   17

  Item 2 Recent Sales of Unregistered Securities and Use of Proceeds         17

  Item 3 Defaults Upon Senior Securities                                     17

  Item 4 Submission of Matters to a Vote of Security Holders                 17

  Item 5 Other Information                                                   17

  Item 6 Exhibits                                                            18

SIGNATURES                                                                   18

                                       2
<PAGE>
                                     PART I
ITEM 1 - FINANCIAL STATEMENTS

                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                                 BALANCE SHEETS
                             March 31, 2008 and 2007

<TABLE>
<CAPTION>
                                                                           March 31,              March 31,
                                                                             2008                   2007
                                                                         ------------           ------------
<S>                                                                      <C>                    <C>
                                     ASSETS
CURRENT ASSETS
   Cash on hand and in bank                                              $      5,336           $      1,826
                                                                         ------------           ------------

      TOTAL CURRENT ASSETS                                                      5,336                  1,826
                                                                         ------------           ------------

TOTAL ASSETS                                                             $      5,336           $      1,826
                                                                         ------------           ============

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
LIABILITIES

CURRENT LIABILITIES
   Accounts payable - trade                                              $         --           $         --
   Note payable to current majority stockholder                                66,000                     --
   Accrued interest payable to current majority stockholder                     2,902                    625
                                                                         ------------           ------------

      TOTAL CURRENT LIABILITIES                                                68,902                    625
                                                                         ------------           ------------

LONG-TERM LIABILITIES
   Note payable to current majority stockholder                                    --                 20,000
                                                                         ------------           ------------

     TOTAL LIABILITIES                                                         68,902                 20,625
                                                                         ------------           ------------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)
   Preferred stock - $0.001 par value
     50,000,000 shares authorized
     None issued and outstanding                                                   --                     --
   Common stock - $0.001 par value
     100,000,000 shares authorized
     52,000 shares issued and outstanding                                          52                     52
   Additional paid-in capital                                              48,072,632             48,072,632
   Common stock warrants                                                        5,000                  5,000
   Deficit accumulated during the development stage                       (48,141,250)           (48,096,483)
                                                                         ------------           ------------

      TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                                    (63,566)               (18,799)
                                                                         ------------           ------------

      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                         $      5,336           $      1,826
                                                                         ============           ============
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       3
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                            STATEMENTS OF OPERATIONS
             Six and Three months ended March 31, 2008 and 2007 and
       Period from July 5, 1989 (date of inception) through March 31, 2008

<TABLE>
<CAPTION>
                                                                                                           Period from
                                                                                                           July 5, 1989
                                      Six months       Six months      Three months     Three months    (date of inception)
                                        ended            ended            ended            ended             through
                                       March 31,        March 31,        March 31,        March 31,          March 31,
                                         2008             2007             2008             2007               2008
                                     ------------     ------------     ------------     ------------       ------------
<S>                                  <C>              <C>              <C>              <C>                <C>
REVENUES                             $         --     $         --     $         --     $         --       $         --
                                     ------------     ------------     ------------     ------------       ------------
OPERATING EXPENSES
  General and
   administrative expenses                 27,913           23,340           14,235           10,303         17,129,528
  Depreciation expense                         --               --               --               --             91,495
  Research and
   development expense                         --               --               --               --         10,556,405
  Technology and patent
   rights acquired                             --               --               --               --          2,650,000
  Expense related to
   warrant extensions                          --               --               --               --         17,890,676
  Amortization of goodwill                     --               --               --               --            535,057
                                     ------------     ------------     ------------     ------------       ------------
      TOTAL OPERATING EXPENSES             27,913           23,340           14,235           10,303         48,853,161
                                     ------------     ------------     ------------     ------------       ------------

LOSS FROM OPERATIONS                      (27,913)         (23,340)         (14,235)         (10,303)       (48,853,161)

OTHER INCOME (EXPENSE)
  Interest expense                         (1,399)            (618)            (796)            (306)          (339,507)
  Other income                                 41              182               19               58          1,043,265
  Other expense                                --               --               --               --            (67,405)
  Equity in loss from
   unconsolidated subsidiaries                 --               --               --               --           (575,412)
  Impairment loss                              --               --               --               --           (690,124)
  Gain from sale of
    Diabecore stock                            --               --               --               --             57,242
    MicroIslet stock                           --               --               --               --          1,283,852
                                     ------------     ------------     ------------     ------------       ------------
      TOTAL OTHER INCOME (EXPENSE)         (1,358)            (436)            (777)            (248)           711,911
                                     ------------     ------------     ------------     ------------       ------------
LOSS BEFORE PROVISION
 FOR INCOME TAXES                         (29,271)         (23,776)         (15,012)         (10,551)       (48,141,250)

PROVISION FOR INCOME TAXES                     --               --               --               --                 --
                                     ------------     ------------     ------------     ------------       ------------

NET LOSS                             $    (29,271)    $    (23,776)    $    (15,012)    $    (10,551)      $(48,141,250)
                                     ============     ============     ============     ============       ============
Earnings per share of
 common stock outstanding
 computed on net loss -
 basic and fully diluted             $      (0.56)    $      (0.46)    $      (0.29)    $      (0.20)
                                     ============     ============     ============     ============
Weighted-average number
 of shares outstanding -
 basic and fully diluted                   52,000           52,000           52,000           52,000
                                     ============     ============     ============     ============
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                            STATEMENTS OF CASH FLOWS
                  Six months ended March 31, 2008 and 2007 and
       Period from July 5, 1989 (date of inception) through March 31, 2008

<TABLE>
<CAPTION>
                                                                                                           Period from
                                                                                                           July 5, 1989
                                                                  Six months           Six months      (date of inception)
                                                                    ended                ended               through
                                                                   March 31,            March 31,            March 31,
                                                                     2008                 2007                 2008
                                                                 ------------         ------------         ------------
<S>                                                              <C>                  <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net income (loss) for the period                              $    (29,271)        $    (23,776)        $(48,141,250)
   Adjustments to reconcile net loss to
    net cash provided by operating activities
      Depreciation and amortization                                        --                   --              626,552
      Gain on sale of Diabecore stock                                      --                   --              (57,242)
      Warrants issued for services                                         --                   --              515,515
      Expense related to warrant extensions                                --                   --           17,890,676
      Common stock issued for services                                     --                   --              138,950
      Common stock issued for License and Marketing agreement              --                   --               80,000
      Impairment loss                                                      --                   --              704,491
      Inventory deposit - BICO                                             --                   --           (1,000,000)
      Gain on MicroIslet stock                                             --                   --           (1,283,852)
      Equity in loss of unconsolidated subsidiaries                        --                   --              575,412
      Accrued interest contributed to equity                               --                   --              324,879
   Increase (Decrease) in
      Accrued interest payable                                          1,399                  618                2,902
                                                                 ------------         ------------         ------------
NET CASH USED IN OPERATING ACTIVITIES                                 (27,872)             (23,158)         (29,622,967)
                                                                 ------------         ------------         ------------
CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of property and equipment                                      --                   --             (303,746)
   Proceeds from sale of property and equipment                            --                   --              175,000
   Cash paid for investment in MicroIslet                                  --                   --           (1,600,000)
   Proceeds from sale of MicroIslet stock                                  --                   --            2,070,726
   Cash paid for investment in Diabecore                                   --                   --             (987,468)
   Proceeds from sale of Diabecore stock                                   --                   --               57,242
   Net activity on notes receivable from related parties                   --                   --             (138,538)
                                                                 ------------         ------------         ------------
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES                        --                   --             (726,784)
                                                                 ------------         ------------         ------------
CASH FLOWS FROM FINANCING ACTIVITIES
   Cash received from notes payable to
     Former majority shareholder and others                                --                   --              396,200
     Current majority shareholder                                      31,000                   --               66,000
     Convertible notes                                                     --                   --               95,000
   Cash paid on notes payable                                              --                   --              (42,500)
   Cash received from sale of common stock                                 --                   --           11,096,834
   Cash received on Regulation S sale of common stock                      --                   --              288,751
   Cash received on sale of common stock to BICO                           --                   --            4,200,000
   Cash received on warrant exercises                                      --                   --              118,066
   Net activity on cash advanced to/received from BICO                     --                   --           14,160,060
   Cash paid to acquire treasury stock                                     --                   --              (35,001)
   Cash contributed as capital to support operations                       --                   --               11,677
                                                                 ------------         ------------         ------------
NET CASH PROVIDED BY FINANCING ACTIVITIES                              31,000                   --           30,355,087
                                                                 ------------         ------------         ------------

INCREASE (DECREASE) IN CASH                                             3,128              (23,158)               5,336
Cash at beginning of period                                             2,208               24,984                   --
                                                                 ------------         ------------         ------------
CASH AT END OF PERIOD                                            $      5,336         $      1,826         $      5,336
                                                                 ============         ============         ============
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       5
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                      STATEMENTS OF CASH FLOWS - CONTINUED
                  Six months ended March 31, 2008 and 2007 and
       Period from July 5, 1989 (date of inception) through March 31, 2008

<TABLE>
<CAPTION>
                                                                                          Period from
                                                                                          July 5, 1989
                                                       Six months        Six months    (date of inception)
                                                         ended             ended            through
                                                        March 31,         March 31,         March 31,
                                                          2008              2007              2008
                                                       ----------        ----------        -----------
<S>                                                    <C>               <C>               <C>
SUPPLEMENTAL DISCLOSURE OF
INTEREST AND INCOME TAXES PAID

   Interest paid for the year                          $       --        $       --        $    11,725
                                                       ==========        ==========        ===========
   Income taxes paid for the year                      $       --        $       --        $        --
                                                       ==========        ==========        ===========

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES

   Issuance of 371,000 shares of common stock
    to satisfy $303,000 note payable                   $       --        $       --        $   303,000
                                                       ==========        ==========        ===========
   Issuance of 3,000,000 shares of common stock
    to BICO in payment of intercompany debt            $       --        $       --        $10,500,000
                                                       ==========        ==========        ===========
</TABLE>


   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       6
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                          NOTES TO FINANCIAL STATEMENTS
                             March 31, 2008 and 2007


NOTE A - ORGANIZATION AND DESCRIPTION OF BUSINESS

Truewest  Corporation  (formerly  Diasense,  Inc.) (Company) was incorporated on
July 5, 1989 in accordance with the Laws of the  Commonwealth of Pennsylvania as
a wholly-owned  subsidiary of BICO, Inc. (BICO) (formerly Biocontrol Technology,
Inc.).

On January 22,  2007,  the Company  filed  Articles of Merger and Plan of Merger
with the  Commonwealth  of  Pennsylvania  and the State of Nevada to change  the
Company's  domicile  from  Pennsylvania  to Nevada by means of a merger with and
into a Nevada  corporation  formed on November 3, 2006 solely for the purpose of
effecting the  reincorporation.  The Articles of Incorporation and Bylaws of the
Nevada corporation are the Articles of Incorporation and Bylaws of the surviving
corporation.  Such Articles of Incorporation  maintained the Company's corporate
name of Diasense, Inc. and modified the Company's capital structure to allow for
the issuance of up to 100,000,000 shares of $0.001 par value common stock and up
to 50,000,000  shares of $0.001 par value preferred  stock.  Although the merger
documents  were filed in both  Pennsylvania  and Nevada on January 22, 2007, the
Commonwealth of Pennsylvania  required  completion of certain documents in order
to issue a tax clearance  certificate  to complete the merger.  The required tax
clearance  was not issued  until March 22,  2007 which  formally  completed  the
domicile  relocation  to Nevada.  The effect of this action is  reflected in the
accompanying  financial  statements  as of the  first  day of the  first  period
presented.

On  March  19,  2008,  the  Company  changed  its  corporate  name  to  Truewest
Corporation.

The  Company was  approximately  52% owned by BICO until July 23, 2004 when BICO
sold its entire ownership interest to Dominion Assets, LLC (Dominion). On August
29, 2006, the Company entered into a Voluntary Surrender Agreement with Dominion
whereby  all of the  Company's  assets,  which had  previously  been  pledged as
collateral to secure loan agreements by and between the Company and Dominion and
under which the Company was then in default, were repossessed.  Dominion was, at
that time,  the majority  shareholder  of the  Company.  Keith R. Keeling owns a
majority  interest in  Dominion  and was also a former  member of the  Company's
Board of Directors and the Company's former Chief Executive Officer (CEO) of the
Company through his resignation from both positions on August 4, 2006.

Thorough the date of the Voluntary Surrender  Agreement,  the Company's business
efforts were focused on developing a noninvasive  glucose sensor  (Sensor).  The
Sensor  was  proposed  to  use   electromagnetic   technology   to  measure  the
concentration  of glucose in human tissue  without  requiring the user to take a
blood sample.

The Company's current principal  business activity is to seek a suitable reverse
acquisition  candidate  through  acquisition,  merger or other suitable business
combination method.

The Company has never fully  implemented any business plan(s) and,  accordingly,
is considered to be in the development stage.

NOTE B - PREPARATION OF FINANCIAL STATEMENTS

The  Company  follows  the  accrual  basis  of  accounting  in  accordance  with
accounting principles generally accepted in the United States of America and has
a year-end of September 30.

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting period. Actual results could differ from those estimates.

Management further acknowledges that it is solely responsible for adopting sound
accounting  practices,   establishing  and  maintaining  a  system  of  internal
accounting  control and preventing and detecting  fraud. The Company's system of
internal  accounting  control is designed to assure,  among other items, that 1)
recorded  transactions  are valid; 2) valid  transactions  are recorded;  and 3)
transactions  are  recorded in the proper  period in a timely  manner to produce
financial  statements which present fairly the financial  condition,  results of
operations  and cash  flows of the  Company  for the  respective  periods  being
presented.

                                       7
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE B - PREPARATION OF FINANCIAL STATEMENTS - CONTINUED

During interim periods, the Company follows the accounting policies set forth in
its annual  audited  financial  statements  filed with the U. S.  Securities and
Exchange Commission on its Annual Report on Form 10-KSB containing the Company's
financial  statements  for the year ended  September 30, 2007.  The  information
presented  within  these  interim  financial  statements  may  not  include  all
disclosures  required by generally accepted accounting  principles and the users
of financial information provided for interim periods should refer to the annual
financial information and footnotes when reviewing the interim financial results
presented herein.

In the opinion of management,  the accompanying  interim  financial  statements,
prepared in  accordance  with the U. S.  Securities  and  Exchange  Commission's
instructions for Form 10-Q, are unaudited and contain all material  adjustments,
consisting only of normal recurring  adjustments necessary to present fairly the
financial condition, results of operations and cash flows of the Company for the
respective interim periods  presented.  The current period results of operations
are not necessarily  indicative of results which ultimately will be reported for
the full fiscal year ending September 30, 2008.

NOTE C - GOING CONCERN UNCERTAINTY

On August 29, 2006,  the Company  entered into a Voluntary  Surrender  Agreement
(Voluntary Surrender Agreement) with Dominion Assets, LLC (Dominion) whereby all
of the  Company's  assets,  which had  previously  been pledged as collateral to
secure  loan  agreements  under  which the  Company  was then in  default,  were
repossessed.  Dominion  was,  at that  time,  the  majority  shareholder  of the
Company.

The Company's current principal  business activity is to seek a suitable reverse
acquisition  candidate  through  acquisition,  merger or other suitable business
combination method.

The  Company's  continued  existence is  dependent  upon its ability to generate
sufficient cash flows from operations to support its daily operations as well as
provide sufficient resources to retire existing liabilities and obligations on a
timely basis.

The Company  anticipates  future sales of equity securities to facilitate either
the  consummation  of a business  combination  transaction  or to raise  working
capital to support and preserve the integrity of the corporate entity.  However,
there is no assurance that the Company will be able to obtain additional funding
through the sales of additional  equity  securities  or, that such  funding,  if
available, will be obtained on terms favorable to or affordable by the Company.

If no additional  operating  capital is received  during the next twelve months,
the  Company  will be  forced  to rely on  existing  cash in the  bank  and upon
additional  funds  loaned  by  management  and/or  significant  stockholders  to
preserve the integrity of the corporate  entity at this time. In the event,  the
Company  is  unable to  acquire  advances  from  management  and/or  significant
stockholders, the Company's ongoing operations would be negatively impacted.

It  is  the  intent  of  management  and  significant  stockholders  to  provide
sufficient  working  capital  necessary to support and preserve the integrity of
the corporate entity.  However, no formal commitments or arrangements to advance
or loan funds to the Company or repay any such advances or loans exist. There is
no legal obligation for either management or significant stockholders to provide
additional future funding.

While the Company is of the opinion that good faith  estimates of the  Company's
ability to secure additional  capital in the future to reach our goals have been
made, there is no guarantee that the Company will receive  sufficient funding to
sustain operations or implement any future business plan steps.

                                       8
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Cash and cash equivalents

     For  Statement of Cash Flows  purposes,  the Company  considers all cash on
     hand  and  in  banks,  certificates  of  deposit  and  other  highly-liquid
     investments with maturities of three months or less, when purchased,  to be
     cash and cash equivalents.

2. Property and Equipment

     Property and equipment were recorded at historical  cost.  These costs were
     depreciated over the estimated useful lives of the individual  assets using
     the straight-line method, generally seven to thirty-nine years.

     Gains and losses from  disposition of property and equipment are recognized
     as incurred and are included in operations.

     In accordance  with  Statement of Financial  Accounting  Standards No. 144,
     "Accounting  for the  Impairment  or Disposal of  Long-Lived  Assets",  the
     Company  follows the policy of evaluating  all property and equipment as of
     the end of each reporting  quarter.  At September 30, 2006, the Company had
     no assets subject to this accounting pronouncement.

3. Income Taxes

     The Company uses the asset and liability  method of  accounting  for income
     taxes. At March 31, 2008 and 2007, respectively, the deferred tax asset and
     deferred tax liability accounts, as recorded when material to the financial
     statements,  are entirely the result of  temporary  differences.  Temporary
     differences   represent  differences  in  the  recognition  of  assets  and
     liabilities for tax and financial reporting purposes,  generally consisting
     of  accumulated  depreciation  and  amortization,  allowance  for  doubtful
     accounts and vacation accruals.

     As of March 31,  2008 and 2007,  the  deferred  tax  asset  related  to the
     Company's net operating loss  carryforward  is fully  reserved.  Due to the
     provisions  of Internal  Revenue  Code Section 338, the Company may have no
     net operating loss carryforwards available to offset financial statement or
     tax  return  taxable  income in future  periods  as a result of a change in
     control   involving  50  percentage  points  or  more  of  the  issued  and
     outstanding securities of the Company.

4. Earnings (loss) per share

     Basic  earnings  (loss) per share is computed  by  dividing  the net income
     (loss) available to common stockholders by the  weighted-average  number of
     common shares  outstanding  during the respective  period  presented in our
     accompanying financial statements.

     Fully diluted earnings (loss) per share is computed similar to basic income
     (loss) per share  except that the  denominator  is increased to include the
     number of common  stock  equivalents  (primarily  outstanding  options  and
     warrants).

     Common  stock  equivalents  represent  the  dilutive  effect of the assumed
     exercise of the outstanding stock options and warrants,  using the treasury
     stock method, at either the beginning of the respective period presented or
     the date of  issuance,  whichever  is later,  and only if the common  stock
     equivalents  are  considered  dilutive  based upon the Company's net income
     (loss) position at the calculation date.

     At March  31,  2008 and  2007,  and  subsequent  thereto,  all  issued  and
     outstanding warrants are considered  anti-dilutive due to the Company's net
     operating loss position.

                                       9
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

5. Treasury Stock

     The Company accounts for treasury stock  acquisitions and sales pursuant to
     the tenets of Accounting Principles Board Opinion 6, whereby treasury stock
     acquisitions  are first charged  against par value and any excess  purchase
     price is first charged to additional  paid-in  capital and then to retained
     earnings.  Any  subsequent  sale of treasury stock is first credited to par
     value and any excess is credited to additional paid-in capital.

6. Research and development costs

     Research and  development  expenses were charged to operations as incurred.
     Patents,  Licenses and  Marketing  Agreements  acquired from BICO were also
     charged to operations as acquired.

NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amount of cash,  accounts  receivable,  accounts  payable and notes
payable, as applicable,  approximates fair value due to the short term nature of
these items  and/or the current  interest  rates  payable in relation to current
market conditions.

Interest  rate risk is the risk  that the  Company's  earnings  are  subject  to
fluctuations  in interest  rates on either  investments  or on debt and is fully
dependent  upon  the  volatility  of  these  rates.  The  Company  does  not use
derivative instruments to moderate its exposure to interest rate risk, if any.

Financial  risk  is  the  risk  that  the  Company's  earnings  are  subject  to
fluctuations in interest rates or foreign exchange rates and are fully dependent
upon the  volatility  of  these  rates.  The  company  does  not use  derivative
instruments to moderate its exposure to financial risk, if any.

NOTE F - CALCULATION OF COMPREHENSIVE INCOME (LOSS)

<TABLE>
<CAPTION>
                                                                                                  Period from
                                                                                                  July 5, 1989
                             Six months       Six months      Three months     Three months    (date of inception)
                               ended            ended            ended            ended             through
                              March 31,        March 31,        March 31,        March 31,          March 31,
                                2008             2007             2008             2007               2008
                             -----------      -----------      -----------      -----------       ------------
<S>                          <C>              <C>              <C>              <C>               <C>
Net Loss                     $ (29,271)        $(23,776)        $ (15,012)       $ (10,551)       $(48,141,250)

Comprehensive
   income items: None               --               --                --               --                  --
                             ---------         --------         ---------        ---------        ------------

Comprehensive Loss           $ (29,271)        $(23,776)        $ (15,012)       $ (10,551)       $(48,141,250)
                             =========         ========         =========        =========        ============
</TABLE>

NOTE G - NOTE PAYABLE TO OFFICER/DIRECTOR

On September 29, 2006, the Company and it's sole officer and director,  Glenn A.
Little,  acknowledged  that outside funds are necessary to support the corporate
entity and comply with the periodic  reporting  requirements  of the  Securities
Exchange Act of 1934,  as amended.  To this end, Mr.  Little  agreed to lend the
Company  up to $50,000  with a maturity  period not to exceed two (2) years from
the initial  funding date at an interest  rate of 6.0% per annum.  Through March
31, 2008,  Mr. Little has advanced  approximately  $66,000 under this  agreement
with an initial maturity date of September 30, 2008.

                                       10
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE H - INCOME TAXES

The components of income tax (benefit) expense for each of the six month periods
ended  March 31,  2008 and 2007 and for the  period  from July 5, 1989  (date of
inception) through March 31, 2008, are as follows:

                                                                Period from
                                                               July 5, 1989
                        Six months          Six months      (date of inception)
                          ended               ended              through
                         March 31,           March 31,           March 31,
                           2008                2007                2008
                         -------             -------             -------
Federal:
  Current                $    --             $    --             $    --
  Deferred                    --                  --                  --
                         -------             -------             -------
                              --                  --                  --
                         -------             -------             -------
State:
  Current                     --                  --                  --
  Deferred                    --                  --                  --
                         -------             -------             -------
                              --                  --                  --
                         -------             -------             -------

  Total                  $    --             $    --             $    --
                         =======             =======             =======

Concurrent  with a  September  2006  change in  control,  the  Company has a net
operating loss  carryforward  for future periods of approximately  $68,000.  The
ultimate amount and availability of any future net operating loss  carryforwards
may be subject to limitations  set forth by the Internal  Revenue Code.  Factors
such as the number of shares  ultimately  issued  within a three year  look-back
period;  whether there is a deemed more than 50 percent  change in control;  the
applicable  long-term tax exempt bond rate;  continuity of historical  business;
and  subsequent  income of the Company all enter into the annual  computation of
allowable annual utilization of the carryforwards.

The  Company's  income tax expense  (benefit)  for each of the six month periods
ended  March 31,  2008 and 2007 and for the  period  from July 5, 1989  (date of
inception)  through  March 31, 2008,  respectively,  differed from the statutory
federal rate of 34 percent as follows:

<TABLE>
<CAPTION>
                                                                                                       Period from
                                                                                                      July 5, 1989
                                                              Six months           Six months      (date of inception)
                                                                ended                ended               through
                                                               March 31,            March 31,            March 31,
                                                                 2008                 2007                 2008
                                                             ------------         ------------         ------------
<S>                                                          <C>                  <C>                  <C>
Statutory rate applied to income before income taxes         $    (10,000)        $     (8,100)        $(16,368,000)
Increase (decrease) in income taxes resulting from:
  State income taxes                                                   --                   --                   --
  Other, including reserve for deferred tax asset
   and application of net operating loss carryforward              10,000                8,100           16,368,000
                                                             ------------         ------------         ------------

      Income tax expense                                     $         --         $         --         $         --
                                                             ============         ============         ============
</TABLE>

                                       11
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE H - INCOME TAXES - CONTINUED

Temporary  differences,  consisting primarily of statutory deferrals of expenses
for organizational costs,  statutory differences in the  depreciable/amortizable
lives for  property and  equipment  and patents and the  recognition  of expense
charges  related to the issuance of warrants,  between the  financial  statement
carrying  amounts and tax bases of assets and liabilities  give rise to deferred
tax assets and/or liabilities.  As of September 30, 2007 and 2006, respectively,
after taking the September 2006 change in control into consideration:

                                           September 30,       September 30,
                                               2007                2006
                                             --------            --------
Deferred tax assets
  Net operating loss carryforwards           $ 13,000            $     --
  Less valuation allowance                    (13,000)                 --
                                             --------            --------

  Net Deferred Tax Asset                     $     --            $     --
                                             ========            ========

NOTE I - COMMON STOCK TRANSACTIONS

On September 18, 2006, the Company entered into a unit purchase  agreement (Unit
Purchase Agreement) to sell 1,000 Units to Glenn A. Little (Little) for $125,000
cash.  Each Unit consisted of 11,100 shares of common stock and 500 common stock
purchase  warrants or an  aggregate  of  11,100,000  shares of common  stock and
500,000   common  stock  purchase   warrants.   There  were  no  commissions  or
underwriting discounts paid in conjunction with this transaction and the Company
believes  that the shares and  warrants  were  exempt  from  registration  under
Section 4(2) of the Securities Act of 1933 as amended.

The common  stock  purchase  warrants  can be  exercised  at any time from their
issuance on September 18, 2006 through  September 18, 2011 at an exercise  price
of $0.10 per share.  The  Company  assigned a value of $5,000 to these  warrants
from the $125,000 aggregate purchase price, which is equivalent to the par value
of the underlying common stock supporting the warrants.

On September 18, 2006,  connected with yet separate from the aforementioned Unit
Purchase  Agreement,  the Company  entered into a Share Purchase  Agreement with
Dominion, the Company's then-majority shareholder, whereby the Company purchased
from  Dominion  11,975,000  shares of common stock of the Company for a purchase
price of $1.00.  The shares  were  cancelled  upon  receipt by the  Company  and
returned to unissued status.

On November 14, 2006, the Company filed a Definitive  Schedule 14C - Information
Statement Pursuant to Section 14C of the Securities  Exchange Act of 1934 noting
actions to be taken without a meeting upon the written consent of the holders of
a majority of the outstanding shares of the voting capital stock of the Company.
The actions at this meeting  included 1) to reverse split the  currently  issued
and outstanding  common stock (Reverse Split) of the Company on a 100,000 shares
for one (1) share basis, with no stockholder being reversed to less than a round
lot of 100 shares;  and 2) to change the Company's state of  incorporation  from
Pennsylvania to Nevada. On January 19, 2006,  shareholders holding a majority of
the  Company's  common stock voted to rescind the reverse  stock  portion of the
previous approval.

On  June  20,  2007,  the  Company  filed  another  Preliminary  Schedule  14C -
Information  Statement Pursuant to Section 14C of the Securities Exchange Act of
1934  noting  the  following  actions  to be  taken  by the  Company's  Board of
Directors  pursuant  to actions  taken by a written  consent  of a  majority  of
stockholders  without  meeting  "1. To reverse  split the  currently  issued and
outstanding  common stock (the "Common Stock") of the Company on a 12,500 shares
for 1 share  basis,  with  fractional  shares paid in cash at the rate of ($.05)
cents for each  fractional  share and 2. To  increase  the  number of shares the
Company is authorized to issue to  100,000,000  shares of common stock par value
$.001 and 50,000,000  shares of preferred  stock par value $.001 to be issued in
such services and  designations  as determined from time to time by the Board of
Directors.

                                       12
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE I - COMMON STOCK TRANSACTIONS - CONTINUED

The Company's Board of Directors initially approved Item No. 1 above on February
28,  2007 and  recommended  that the  Company  effect the  reverse  split of its
currently issued and outstanding  Common Stock. The Board of Directors  approved
Item No. 2 above on December 1, 2006 in connection with the Company's  change of
domicile  from  Pennsylvania  to Nevada at which time the  Company's  authorized
capital stock was  increased  from  40,000,000  shares of common stock par value
$0.01 to  100,000,000  shares of Common  Stock par value  $0.001 and  50,000,000
shares  of  Preferred  Stock par value  $0.001 to be issued in such  series  and
designations  as may be determined by the Board of Directors.  That approval was
adopted  at the  same  time  as a  proposed  100,000  to 1  reverse  split  with
fractional  shares  rounded up to the  nearest  whole  share and no  shareholder
rounded to less than a round lot of 100 shares. The Company's Board of Directors
decided not to proceed  with that  reverse  split as  announced  in its Form 8 K
filed on January 19, 2007. The change in domicile, however, from Pennsylvania to
Nevada  was  completed  and as a result the  Company's  authorized  capital  was
increased as stated above.

On or about December 2, 2008, the Company completed the  aforementioned  reverse
stock  split on the basis of one (1) share for each  12,500  shares  issued  and
outstanding,  with  fractional  shares  paid in cash at the rate of five  ($.05)
cents for each  fractional  share.  This action reduced the number of issued and
outstanding  shares  from  22,105,051  to 1,596.  The  effect of this  action is
presented in the  accompanying  financial  statements as of the first day of the
first period presented.

On March 17, 2008,  the Company  filed a Definitive  Schedule 14C -  Information
Statement  Pursuant to Section 14C of the  Securities  Exchange Act of 1934 with
respect to the above  mentioned 1 for 5 reverse  stock split with  stockholder's
positions  rounded to the nearest whole share with a  contemporaneous  100 for 1
forward  split of the  Company's  common  stock.  This action  became  effective
immediately  and  the  effects  are  reflected  in  the  accompanying  financial
statements as of the first day of the first period presented.

As a result of the  aforementioned  reverse and forward  splits,  the  Company's
issued and outstanding shares of common stock went from 22,105,151 to 52,000.



                (Remainder of this page left blank intentionally)


                                       13
<PAGE>
                              TRUEWEST CORPORATION
                            (formerly Diasense, Inc.)
                          (a development stage company)
                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                             March 31, 2008 and 2007


NOTE J - STOCK WARRANTS

During August 2006, the Company reached termination  agreements with all holders
of the Company's Common Stock Warrants and terminated all issued and outstanding
warrants.  As of March 31,  2008 and 2007,  respectively,  the only  outstanding
warrants relate to the aforementioned  September 18, 2006 transaction with Glenn
A. Little.

                                            Number of              Weighted
                                          Warrant shares         Average Price
                                          --------------         -------------
Balance at September 30, 2005                 700,000
  Issued                                      500,000              $   0.10
  Exercised                                        --
  Expired                                    (700,000)
                                             --------

Balance at September 30, 2006                 500,000              $   0.10
  Issued                                           --
  Exercised                                        --
  Expired                                          --
                                             --------

Balance at September 30, 2007                 500,000              $   0.10
  Issued                                           --
  Exercised                                        --
  Expired                                          --
                                             --------

Balance at March 31, 2008                     500,000              $   0.10
                                             ========



                (Remainder of this page left blank intentionally)


                                       14
<PAGE>
PART I - ITEM 2

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

(1) CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain  statements  contained  in this  quarterly  filing,  including,  without
limitation, statements containing the words "believes", "anticipates", "expects"
and  words  of  similar  import,  constitute  forward-looking  statements.  Such
forward-looking  statements  involve known and unknown risks,  uncertainties and
other factors that may cause the actual results,  performance or achievements of
the Company,  or industry  results,  to be materially  different from any future
results,   performance   or   achievements   expressed   or   implied   by  such
forward-looking statements.

Such factors include, among others, the following:  international,  national and
local general economic and market conditions:  demographic  changes; the ability
of the Company to sustain,  manage or  forecast  its growth;  the ability of the
Company to successfully make and integrate acquisitions;  raw material costs and
availability;  new product  development and  introduction;  existing  government
regulations  and  changes  in,  or  the  failure  to  comply  with,   government
regulations;  adverse publicity;  competition; the loss of significant customers
or suppliers;  fluctuations  and  difficulty in forecasting  operating  results;
changes in business strategy or development  plans;  business  disruptions;  the
ability  to attract  and  retain  qualified  personnel;  the  ability to protect
technology; and other factors referenced in this and previous filings.

Given  these  uncertainties,  readers  of this Form  10-QSB  and  investors  are
cautioned not to place undue reliance on such  forward-looking  statements.  The
Company  disclaims  any  obligation  to update any such  factors or to  publicly
announce the result of any  revisions to any of the  forward-looking  statements
contained herein to reflect future events or developments.

(2) RESULTS OF OPERATIONS

The Company had no revenue  for either of the six or three month  periods  ended
March 31, 2008 or 2007, respectively.

General and administrative expenses for each of the respective six month periods
ended  March 31,  2008 and 2007 were  nominal,  principally  professional  fees,
incurred with the  maintenance of the Company's  filing  requirements  under the
Securities  Exchange  Act of 1934.  It is  anticipated  that future  expenditure
levels will  increase as the Company  intends to fully comply with it's periodic
reporting requirements.

Earnings per share for the respective six month periods ended March 31, 2008 and
2007, after giving effect to the multiple reverse and forward stock splits, were
approximately  $(0.56) and $(0.46) based on the  weighted-average  shares issued
and outstanding at the end of each respective period.

The  Company  does not  expect  to  generate  any  meaningful  revenue  or incur
operating  expenses for purposes  other than  fulfilling  the  obligations  of a
reporting  company  under the  Securities  Exchange Act of 1934 unless and until
such time that the Company's operating subsidiary begins meaningful operations.

At March 31, 2008 and 2007,  the Company  had working  capital of  approximately
$(63,600) and $1,200.

It is the belief of management  and  significant  stockholders  that  sufficient
working capital necessary to support and preserve the integrity of the corporate
entity  will be  present.  However,  there is no  legal  obligation  for  either
management or significant  stockholders  to provide  additional  future funding.
Should this pledge fail to provide financing, the Company has not identified any
alternative  sources.  Consequently,   there  is  substantial  doubt  about  the
Company's ability to continue as a going concern.

The Company's need for working  capital may change  dramatically  as a result of
any business acquisition or combination  transaction.  There can be no assurance
that the Company will identify any such business, product, technology or company
suitable for acquisition in the future.  Further, there can be no assurance that
the Company would be successful in  consummating  any  acquisition  on favorable
terms  or that it will be able  to  profitably  manage  the  business,  product,
technology or company it acquires.

PLAN OF BUSINESS

GENERAL

The  Company  intends to locate and  combine  with an  existing,  privately-held
company which is profitable  or, in  management's  view,  has growth  potential,
irrespective of the industry in which it is engaged.  However,  the Company does
not  intend  to  combine  with a  private  company  which may be deemed to be an
investment  company subject to the Investment Company Act of 1940. A combination
may be structured as a merger,  consolidation,  exchange of the Company's common

                                       15
<PAGE>
stock for stock or assets or any other form which  will  result in the  combined
enterprise's becoming a publicly-held corporation.

Pending  negotiation and consummation of a combination,  the Company anticipates
that it will have, aside from carrying on its search for a combination  partner,
no business  activities,  and, thus, will have no source of revenue.  Should the
Company incur any significant  liabilities prior to a combination with a private
company, it may not be able to satisfy such liabilities as are incurred.

If the Company's management pursues one or more combination opportunities beyond
the  preliminary  negotiations  stage and those  negotiations  are  subsequently
terminated,  it is  foreseeable  that such efforts  will  exhaust the  Company's
ability to continue to seek such combination opportunities before any successful
combination can be consummated.  In that event,  the Company's common stock will
become  worthless  and  holders of the  Company's  common  stock will  receive a
nominal distribution, if any, upon the Company's liquidation and dissolution.

COMBINATION SUITABILITY STANDARDS

In its pursuit for a combination  partner,  the Company's  management intends to
consider only  combination  candidates  which are profitable or, in management's
view, have growth potential.  The Company's management does not intend to pursue
any  combination  proposal  beyond the  preliminary  negotiation  stage with any
combination  candidate which does not furnish the Company with audited financial
statements  for at least its most  recent  fiscal year and  unaudited  financial
statements for interim periods  subsequent to the date of such audited financial
statements, or is in a position to provide such financial statements in a timely
manner.  The Company will, if necessary  funds are available,  engage  attorneys
and/or accountants in its efforts to investigate a combination  candidate and to
consummate a business  combination.  The Company may require  payment of fees by
such combination  candidate to fund the investigation of such candidate.  In the
event such a combination candidate is engaged in a high technology business, the
Company may also obtain  reports from  independent  organizations  of recognized
standing  covering the technology  being developed and/or used by the candidate.
The  Company's  limited  financial  resources may make the  acquisition  of such
reports  difficult  or even  impossible  to obtain  and,  thus,  there can be no
assurance  that the Company  will have  sufficient  funds to obtain such reports
when considering combination proposals or candidates.  To the extent the Company
is  unable to  obtain  the  advice or  reports  from  experts,  the risks of any
combined enterprise's being unsuccessful will be enhanced.  Furthermore,  to the
knowledge of the Company's officers and directors, neither the candidate nor any
of  its  directors,   executive  officers,  principal  stockholders  or  general
partners:

     (1)  will not have been  convicted of  securities  fraud,  mail fraud,  tax
          fraud, embezzlement,  bribery, or a similar criminal offense involving
          misappropriation  or theft of funds,  or be the  subject  of a pending
          investigation or indictment involving any of those offenses;

     (2)  will not have been subject to a temporary or permanent  injunction  or
          restraining  order arising from unlawful  transactions  in securities,
          whether as issuer, underwriter, broker, dealer, or investment advisor,
          may be the subject of any pending  investigation  or a defendant  in a
          pending  lawsuit  arising from or based upon  allegations  of unlawful
          transactions in securities; or

     (3)  will not have been a defendant in a civil  action which  resulted in a
          final judgement against it or him awarding damages or rescission based
          upon unlawful practices or sales of securities.

The Company's  officers and directors will make these  determinations  by asking
pertinent  questions of the  management of prospective  combination  candidates.
Such persons will also ask pertinent  questions of others who may be involved in
the combination proceedings.  However, the officers and directors of the Company
will not generally take other steps to verify independently information obtained
in this manner which is favorable.  Unless  something  comes to their  attention
which  puts  them on  notice  of a  possible  disqualification  which  is  being
concealed  from them,  such persons will rely on  information  received from the
management of the prospective  combination  candidate and from others who may be
involved in the combination proceedings.

(4)  LIQUIDITY AND CAPITAL RESOURCES

It is the belief of management  and  significant  stockholders  that  sufficient
working capital necessary to support and preserve the integrity of the corporate
entity  will be  present.  However,  there is no  legal  obligation  for  either
management or significant  stockholders  to provide  additional  future funding.
Should this pledge fail to provide financing, the Company has not identified any
alternative  sources.  Consequently,   there  is  substantial  doubt  about  the
Company's ability to continue as a going concern.

                                       16
<PAGE>
The Company has no current plans, proposals, arrangements or understandings with
respect to the sale or issuance of additional  securities  prior to the location
of a merger or  acquisition  candidate.  Accordingly,  there can be no assurance
that sufficient  funds will be available to the Company to allow it to cover the
expenses related to such activities.

The Company does not currently contemplate making a Regulation S offering.

Regardless of whether the  Company's  cash assets prove to be inadequate to meet
the Company's  operational needs, the Company might seek to compensate providers
of services by issuances of stock in lieu of cash.

(5) QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The  Company  may be subject  to  certain  market  risks,  including  changes in
interest  rates and currency  exchange  rates.  At the present time, the Company
does not undertake any specific actions to limit those exposures.

ITEM 3 - CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Under the supervision and with the  participation  of our management,  including
our principal executive officer and principal financial officer, we conducted an
evaluation of our disclosure  controls and  procedures,  as such term is defined
under Rule 13a-15(e)  promulgated under the Securities  Exchange Act of 1934, as
amended  (Exchange  Act), as of March 31, 2008.  Based on this  evaluation,  our
principal  executive officer and principal  financial officer concluded that our
disclosure  controls and  procedures  are effective in alerting them on a timely
basis to material information relating to our Company required to be included in
our reports filed or submitted under the Exchange Act.

(b) Changes in Internal Controls

There were no significant  changes (including  corrective actions with regard to
significant  deficiencies or material  weaknesses) in our internal controls over
financial  reporting that occurred  during the quarter ended March 31, 2008 that
has  materially  affected,  or is reasonably  likely to materially  affect,  our
internal control over financial reporting.

                          PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

None

ITEM 2 - RECENT SALES OF UNREGISTERED SECURITIES AND USE OF PROCEEDS

None

ITEM 3 - DEFAULTS ON SENIOR SECURITIES

None.

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The  Company  has held no  regularly  scheduled,  called or special  meetings of
stockholders during the reporting period.

ITEM 5 - OTHER INFORMATION

On March 17, 2008,  the Company  filed a Definitive  Schedule 14C -  Information
Statement  Pursuant to Section 14C of the  Securities  Exchange Act of 1934 with
respect to the above  mentioned 1 for 5 reverse  stock split with  stockholder's
positions  rounded to the nearest whole share with a  contemporaneous  100 for 1
forward  split of the  Company's  common  stock.  This action  became  effective
immediately  and  the  effects  are  reflected  in  the  accompanying  financial
statements as of the first day of the first period presented.

As a result of the Company's  cumulative reverse and forward split actions,  the
Company's  issued and outstanding  shares of common stock went from 1,596 shares
issued and outstanding to 52,000 shares issued and outstanding.

                                       17
<PAGE>
ITEM 6 - EXHIBITS

31.1  Certification  pursuant  to  Section  302 of  Sarbanes-Oxley  Act of 2002
32.1  Certification pursuant to Section 906 of Sarbanes-Oxley Act of 2002

                                   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.
                                      TRUEWEST CORPORATION


Dated: May 1, 2008                    By: /s/ Glenn A. Little
       -----------                       ---------------------------------------
                                                                 Glenn A. Little
                                              Chairman, Chief Executive Officer,
                                            Chief Financial Officer and Director


                                       18