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

                                  FORM 10-KSB
[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the year ended December 31, 2005

[ ]Transition report Pursuant to Section 13 or 15(d) of the Exchange Act

                        Commission File Number: 0-50834
                               SIAM IMPORTS INC.
          ----------------------------------------------------------
                (Name of Small Business Issuer In Its Charter)

Nevada                                                73-1668122
---------------------------------                     -------------------
(State or other jurisdiction                          (I.R.S. Employer
of incorporation or organization)                     Identification No.)

4252 Bonita Road, Suite 151, Bonita, CA               91902
----------------------------------------              ----------
(Address of principal executive offices)              (Zip Code)

                                (619) 475-7882
                       --------------------------------
                          (Issuer's Telephone Number)

Securities registered pursuant to Section 12(b) of the Act: None
Securities  registered  pursuant to Section 12(g) of the Act: Common Stock, par
value $0.001

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 [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B contained herein,  and  no  disclosure will be contained, to the
best of registrant's knowledge, in definitive  proxy  or information statements
incorporated by reference in Part III of this Form 10-KSB  or  any amendment to
this Form 10-KSB.  [X]

We had no revenues for the fiscal year ended December 31, 2005. At December 31,
2005,  800,000  shares  of  our  common stock were held by non-affiliates.  Our
common stock is currently listed for  quotation  on the NASD's Over the Counter
Bulletin  Board  ("OTCBB") under the symbol SIMP; however,  no  active  trading
market has yet commenced.

Issuer had a total  of  8,000,000 shares of Common Stock issued and outstanding
at December 31, 2005.

Some exhibits required to  be  filed  hereunder,  are  incorporated  herein  by
reference  to  Issuer's original Form 10-SB Registration Statement, filed under
CIK No. 0001295923 on July 6, 2004, on the SEC website at www.sec.gov.

Transitional Small Business Disclosure Format:           Yes [ ] No [X]

Indicate  by  check  mark  whether  the  registrant is a shell company  (as
defined in Rule 12b-2 of the Exchange Act.
                                                        Yes  [X] No  [ ]


Forward Looking Statements
                          --------------------------

In addition to historical  information,  this  Annual  Report  on  Form  10-KSB
contains   forward-looking   statements  within  the  meaning  of  the  Private
Securities Litigation Reform Act  of 1995 relating to the our future operations
and prospects, including statements  that  are based on current projections and
expectations  about  the  markets  in which we operate,  and  our  Management's
beliefs  concerning future performance  and  capital  requirements  based  upon
current available  information.  Such  statements  are  based  on  Management's
beliefs, as well as assumptions made by and information currently available  to
Management.  When  used  in  this  document, words like "may", "might", "will",
"expect", "anticipate", "believe", and  similar  expressions  are  intended  to
identify  forward  looking  statements.  Actual results could differ materially
from Management's current expectations. For  example, there can be no assurance
that additional capital will not be required or  that  additional  capital,  if
required,  will  be available on reasonable terms, if at all, at such times and
in such amounts as we may need for continued business operations.


                             Available Information
                             ---------------------

Our Annual Reports  on  Form  10-KSB, Quarterly Reports on Form 10-QSB, Current
Reports on Form 8-K and all amendments  to  those reports that we file with the
Securities and Exchange Commission, or SEC, are  available  at the SEC's public
reference  room at 450 Fifth Street, N.W., Washington, D.C. 20549.  The  public
may obtain information on the operation of the public reference room by calling
the SEC at 1-800-SEC-0330. The SEC also maintains a website at www.sec.gov that
contains reports,  proxy  and  information  statements  and  other  information
regarding issuers that file electronically with the SEC.




                                    PART I
                                    ======

Item 1. Business
----------------
General
-------
We  were  incorporated  in  the State of Nevada on May 27, 2003. We are in  the
development stage and have commenced  limited business operations, but have not
yet generated any revenues or realized  any  income.  We incurred net operating
losses  of $48,322 for the year ended December 31, 2005  and  $78,301  for  the
period from inception to December 31, 2005.

We intend  to  import  and  distribute  various  Southeast  Asian  gifts,  skin
products,  housewares,  furniture  and  decorative  items to the North American
marketplace. It is our intent to begin marketing our  products  in the Canadian
consumer  market,  with  an  initial  focus  on  the Toronto region in Ontario,
Canada.  If we are successful, we would like to expand  our  marketing  efforts
into the United  States. We intend to sell our products to retailers and retail
specialty shops for  resale  to  the public. Our marketing will be done through
our online store at www.siamimportsinc.com,  trade  shows,  craft  shows,  home
living shows and via email marketing campaigns.

Principal Products
------------------
Siam  Imports,  Inc.  (the  "Company")  has  sourced  the following products in
Thailand  and  has  purchased  samples  in order to wholesale  them  to  retail
businesses: handmade stainless steel cutlery, Thai silk products, products made
with mango wood, ornamental wall hangings  and all natural skin care and beauty
products.


Principal Suppliers
-------------------
The Company does have contacts with suppliers  in Thailand. Following is a list
of our current suppliers:

   1.  Patchara Marketing Co., Ltd. - stainless steel cutlery
   2.  Silkroad Design - Thai silk gift boxes with spa items inside
   3.  PL Bronze Co., Ltd. - stainless steel cutlery
   4.  N & D Cutler
   5.  Pillows, Bags and Wall Hangings
   6.  Jina J.S. International Co., Ltd.
   7.  Orientations - Thai silk scarves

Until we determine which products will be well received by our customers, we do
not intend to enter into any contracts with any  suppliers,  but  rather,  will
continue to purchase small samplings of products from each company to establish
a  product  line.  No  additional sample inventory has been purchased since the
initial purchase in July  2004.   There is no inventory currently on hand as of
December 31, 2005.

Distribution Methods of Our Products
------------------------------------
We intend to wholesale our products  to  retail shops for resale to the public,
through our website at www.siamimportsinc.com.,  trade shows, craft shows, home
living  shows,  via  email  marketing  campaigns  and by  direct  marketing  to
specialty retail and gift shops. We intend to list  all of the products we will
offer on our website and in the catalogue we intend to  put  together. In order
to keep start up costs and expenses to a minimum, we will only  keep one or two
samples  of  each product on hand for use in trade shows, photographs  for  the
catalogue and  promotional sales purposes and intend to order products from our
list of suppliers as we receive orders from customers.

Fulfillment and Distribution
----------------------------
We will fulfill  all  customer  orders from Canada and ship via UPS, the postal
service or other shipping company  for distribution to consumers. Delivery time
is currently estimated to be within  ten  business  days  from  the date of the
receipt of the order. We will charge each customer in advance for  the shipping
costs associated with the order.

Advertising
-----------
We  have  not  yet  conducted any type of advertising; however, once funds  are
available, we intend  to  research  the  possibility  of  placing  ads in trade
magazines.

Competitive Business Conditions and the Issuer's Competitive Position
---------------------------------------------------------------------
We  expect  to  encounter significant competition in our attempts to distribute
our products. Such  competition  may  consist  of  vying  for  space  on retail
shelves,  placement  in  catalogs  and  for  attention on the Internet. We also
believe that we compete with other importers for  supplies  of similar products
or to obtain preferable pricing terms from suppliers.

We compete in an industry where many importers and distributors  offer the same
or similar items that we will offer; following are the companies we  feel  will
be our top competitors:

- Lotus Flatware Company, Thornhill, Ontario, Canada - specialize in import and
sale of unique flatware items

-  Embros  Importers of Quality Cookware and Cuttlery, Toronto, Ontario, Canada
specialize in import and sale of cutlery and cookware

- Thailand Collection,  Whitby, Ontario, Canada - specialize in import and sale
of a variety of gift and houseware items from Thailand

- Lukamar Import and Export,  Sechelt,  BC,  Canada  - specialize in import and
sale of a variety of gift and houseware items from Thailand

We hope to compete directly with these companies by using aggressive marketing,
as  well  as  an expanded product line to give clients a  better  selection  to
choose from. We intend to import a high quality of products in effort to gain a
competitive edge in customer satisfaction and return customers.

These competitors,  as  well  as many others in the same type of business, have
established, successful operating  histories,  longer  client relationships and
greater financial, management, sales and other resources  than  we  do.  To the
extent we are unable to acquire suppliers or retail distribution relationships,
our future operating performance could be materially and adversely affected.

The principal competitive factors in the home and giftware industry are  price,
service,  delivery  time, quality and flexibility, with the relative importance
of each factor depending  upon  the  needs  of  particular  customers  and  the
specific  product  offering.  This  industry  is further characterized by rapid
shifts in trends, consumer demand, and competitive pressures, resulting in both
price and demand volatility. The demand for any  particular product varies from
time  to time based largely upon changes in consumer  preferences  and  general
economic  conditions,  such as consumer expenditures for non-durable goods. The
industry is also subject  to  supply  volatility,  which  occurs as competitors
enter or leave the market.

We expect that our unique products will face considerable price  pressure.  Our
management  believes the market for home and giftware items is price sensitive.
We believe that  consumers  evaluate purchases for these types of products with
price as a significant and determining  factor.  In such environment, we may be
forced to lower our prices and resultantly experience  lower profit margins, to
encourage consumer purchases.

Most  large  competitors have long-term manufacturing, distribution  and  sales
arrangements and  may  not  be  mobile  enough  to  adjust  to  changing market
conditions.

By aggressively focusing on several different sales channels and  products,  we
feel  that  we  will  be able to build up our brand name, which will help us to
effectively compete in a very competitive industry.

Government Approval of Principal Products or Services
-----------------------------------------------------
We have our Nevada Business  License  and  our  extra  provincial  registration
papers  so  that we are properly registered to operate and conduct business  in
the Province  of Ontario, Canada. We have our Customs Business Number, which is
required for importing  products into Canada. We have sales tax numbers for the
collection and payment of both provincial and federal sales taxes in Canada.

Effect of Existing or Probable Government Regulations
-----------------------------------------------------
Import regulations - Our  Management's  research  has  determined that products
imported  from Thailand and most of Southeast Asia are covered  under  the  MFN
(Most-Favored-Nation)  Tariff  Treaty.  As such, the import tariff rates on the
products  we  import  will  range between 0-11%,  depending  on  the  item.  In
addition, all imported items  will  be  subject  to  the Goods and Services Tax
(GST) which will be passed on and recovered from the customer  at  the  time of
sale.

Customs  Inspections  and  Controls - Our imported products will be subject  to
Canadian  Customs inspections  and  controls.  As  such,  all  of  our  product
shipments will  be  processed  at  the  border point of receipt (e.g., highway,
rail,  airport,  seaport  or mail center) or  through  a  customs  broker.  The
delivery carrier will provide  an  appropriate  sales receipt or invoice to the
customs inspector that describes the goods and prices  of  each item in detail,
along with a certificate of origin. Once the customs inspector is satisfied the
shipment  is valid and all products are verified against the  packing  slip  or
invoice, the shipment is released to us for pickup.

Because the  principle  sources  of  our  products,  namely housewares and gift
items,  will  be  from  Southeast  Asia, or more specifically,  currently  from
Thailand, changes in policy and restrictions imposed by the Canadian government
regarding  imports from certain countries  could,  if  implemented,  negatively
affect our business by:

-  Limiting or completely restricting importation from these foreign countries
   of certain products;

-  Driving up our cost of goods sold so that, in order to generate a profit, we
   are forced to increase our retail prices to levels that are unattractive or
   unreasonable;

-  Driving up the cost of goods sold and potentially causing our costs of goods
   to exceed income;

-  Increasing tariffs, importation costs and taxes so that it is no longer
   economically feasible to purchase and import such items; and

-  Imposing cumbersome, lengthy or difficult to follow protocols upon
   importers, making it no longer feasible to import these products

We have discussed  the  various  tariffs and laws associated with importing our
intended products with a customs broker and have been advised that there are no
prohibitive laws regarding any of our proposed products at this time.

Employees
---------
We do not have any employees, other than our officers and directors. We believe
that our operations are currently  on a small scale that is manageable by these
individuals.

Patents and Trademarks
----------------------
We currently have no patents or trademarks,  nor  do  we intend to file for any
patent  or trademark protection in the future. Our business  is  based  on  the
import and  sale  of  other  companies'  products  and,  as  such, no patent or
trademark  protection  is required for the conduct of our business  operations.
Since we have no patent  or  trademark rights, unauthorized persons may attempt
to copy aspects of  our business,  including  our  web  site  designs,  product
information  and  sales  mechanics,  or  to  obtain and use information that we
regard as proprietary, such as the technology  used to operate our web site and
web content. Any encroachment upon our proprietary  information,  including the
unauthorized use of our name, the use of a similar name by a competing  company
or  a  lawsuit  initiated  against  us  for infringement upon another company's
proprietary information or improper use of  their  trademark,  may  affect  our
ability  to create brand name recognition, cause customer confusion and/or have
a detrimental effect on our business.

Litigation  or  proceedings  may  be  necessary  in  the  future to enforce our
intellectual  property  rights, to protect our trade secrets  and  domain  name
and/or to determine the validity and scope of the proprietary rights of others.
Any such litigation or adverse proceeding could result in substantial costs and
diversion of resources and  could seriously harm our business operations and/or
results of operations.


Item 2. Properties
        ----------
We  do  not currently own any property.  We  currently  use  the  home  of  our
President,  Dennis  Eldjarnson,  at no cost to us; however, at such time as our
business expands and this space becomes  insufficient,  we  will  seek to lease
larger warehouse space for inventory storage.

Item 3. Legal Proceedings
        -----------------
We currently have no pending or threatened legal proceedings against us.

Item 4. Submission of Matters to a Vote of Security Holders
        ---------------------------------------------------
There were no matters submitted for a vote to the security holders  during  the
three months ended December 31, 2005.


                                    PART II
                                    =======

Item 5. Market for Registrant's Common Stock and Related Stockholder Matters
        --------------------------------------------------------------------
Our  Common Stock, par value $.001, is listed for quotation on the NASD's OTCBB
under  the symbol SIMP; however, no active trading market in our securities has
yet commenced.

On December 1, 2005, the Company authorized the issuance of 6,200,000 shares of
restricted  common  stock,  par value $.001, to MAC Partners, LP as payment for
$31,000 of consulting services  rendered. After issuance, MAC Partners, LP owns
approximately 77.5% of the Company's  outstanding  shares.  On December 1, 2005
the  Company  filed  Form  8-K with the SEC which provides additional  detailed
information.

As of December 31, 2005 there  were  approximately  36 holders of record of our
Common Stock.

A  total of 7,200,000 shares are held by our officers  and  directors,  all  of
which  are  restricted  securities,  as that term is defined in Rule 144 of the
Rules and Regulations of the Securities  and  Exchange  Commission, promulgated
under the Act. Under Rule 144, such shares can only be publicly  sold,  subject
to  volume  restrictions  and  certain  restrictions  on  the  manner  of sale,
commencing  one  year after their acquisition. A total of 800,000 of the issued
and outstanding shares  were  sold in a public offering registered in the State
of Nevada, pursuant to an exemption provided by Regulation D, Rule 504, and are
unrestricted  securities  and  may  be  publicly  sold  at  any  time,  without
restriction.

We have not paid any cash dividends  since  inception  to  the  holders  of our
Common Stock. We currently intend to retain any earnings for internal cash flow
use.

At  December  31,  2005,  there  were  no equity compensation plans approved or
outstanding and no stock options granted or outstanding.


Item 6. Management's Discussion and Analysis of Financial Condition
        and Results of Operations
        -----------------------------------------------------------
Results of Operations
---------------------
For the year ended December 31, 2005, we  incurred  a  net  operating  loss  of
$48,322,  as  compared to a net loss of $21,287 for the year ended December 31,
2004. We have incurred  total net operating losses of $78,301 from inception to
December  31,  2005.  These  expenses  consisted  of  $13,245  in  general  and
administrative expense at December 31, 2005, compared to $14,223 in general and
administrative expense at December 31, 2004.

Liquidity and Capital Resources
-------------------------------
We have $58 in the bank  as  of  December 31, 2005 and do not expect to satisfy
cash requirements for business operations  without  having  to raise additional
funds or seek bank loans. As of the date of this annual report, we have not yet
generated any revenues.

Our  continued  operations are dependent upon our ability to generate  revenues
from operations and/or  obtain  further  financing, if and when needed, through
borrowing from banks or other lenders or equity  funding. There is no assurance
that sufficient revenues can be generated or that  additional financing will be
available, if and when required, or on terms favorable  to us. If we are unable
to generate sufficient revenues and/or obtain financing if and when needed, our
current business plans could fail.

As detailed in the Company's 8K filed December 1, 2005, the Company had entered
into a definitive Merger Agreement and plan of Reorganization  to  acquire 100%
of  the  total issued and outstanding shares of Vaughan Foods, Inc.("Vaughan"),
an Oklahoma corporation from the shareholders of Vaughan. The transaction would
not involve  any  transfer  of  funds.  After  completion  of  the  merger, the
shareholders  of  Vaughan  would  have  direct  beneficial ownership and voting
control of the Company. This agreement was cancelled in February 2006.

There  was $31,000 cash provided by financing activities  for  the  year  ended
December 31, 2005.  This cash was provided through the sale of common stock.

Our auditors  have  expressed  the  opinion that in our current state, there is
substantial doubt about our ability to  continue  as  a going concern; however,
they also advised that the going concern opinion is expected  to  be alleviated
once we have an established business, have accomplished predictable  levels  of
expenditure  and  have  attained  the  financing  or  income  to  support those
expenditures for a period in excess of one year.

We  anticipate  no  material  commitments for capital expenditures in the  near
term.  Management  is  not aware of  any  trend  in  its  industry  or  capital
resources, which may have  an  impact  on  its  income,  revenue or income from
operations.


Item 7. Financial Statements
        --------------------

Following are our audited financial statements for the year  ended December 31,
2005.


                               SIAM IMPORTS INC.
                         (A Development Stage Company)

                             FINANCIAL STATEMENTS

                       As of December 31, 2005 and 2004

                                      and

                       May 27, 2003 (Date of Inception)
                                    through
                               December 31, 2005




                        DE JOYA GRIFFITH & COMPANY, LLC

-----------------------------------------------------------------------------
To the Board of Directors and Stockholders
Siam Imports, Inc.
(A Development Stage Company)
Dallas, TX

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We  have  audited  the  accompanying  balance sheets of Siam Imports,  Inc.  (A
Developmental  Stage  Company)  as  of  December  31,  2005,  and  the  related
statements of operations, stockholders' deficit,  and  cash  flows for the year
ended December 31, 2005 and for the period from May 27, 2003(Date of Inception)
through  December 31, 2005.  These financial statements are the  responsibility
of the Company's  management.  Our  responsibility  is to express an opinion on
these financial statements based on our audits.  We did not audit the financial
statements of Siam Imports, Inc. as of December 31, 2004. Those statements were
audited by other auditors' whose report has been furnished  to  us,  and in our
opinion,  insofar  as  it  relates to the amounts included in the period ending
December 31, 2004, is based solely on the report of the other auditors.

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

In our opinion, based on our audit and the report  of  the  other auditors, the
financial  statements  referred  to  above  present  fairly,  in  all  material
respects,  the  financial position of the Company as of December 31,  2005  and
2004,and the results  of  its  operations and its cash flows for the year ended
December  31,  2005,  and  for  the  period   from   May   27,  2003  (Date  of
Inception)through December 31, 2005, in conformity with U.S. generally accepted
accounting principles.

The  accompanying  financial  statements have been prepared assuming  that  the
Company will continue as a going  concern.   As  discussed  in  Note  1  to the
financial  statements, the Company has suffered losses from operations, all  of
which raise  substantial  doubt  about  its  ability  to  continue  as  a going
concern.  Management's plans in regards to these matters are also described  in
Note  1.   The  financial  statements do not include any adjustments that might
result from the outcome of this uncertainty.

/s/ De Joya Griffith & Company, LLC
De Joya Griffith & Company, LLC
May 10, 2006
Las Vegas, Nevada



Members of:                    FRANKLIN          Contact Information:
American Institute of CPA's      GRIFFITH &       6330 McLeod Drive, Suite 7
Association of Certified           ASSOCIATES        Las Vegas, Nevada 89120
 Fraud Examiners                                       (702)736-1852 (voice)
Public Company Accounting                                (702) 736-1608 (fax)
 Accounting Oversight Board
-----------------------------------------------------------------------------
To the Board of Directors and Stockholders
Siam Imports, Inc.
(A Development Stage Company)
Toronto, Canada

                 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We  have  audited  the  accompanying  balance  sheets  of Siam Imports, Inc. (A
Development Stage Company) as of December 31, 2004, and  the related statements
of operations, stockholders' equity, and cash flows for the year ended December
31, 2004. These financial statements are the responsibility  of  the  Company's
management.  Our  responsibility  is  to  express an opinion on these financial
statements based on our audits.

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

In our opinion, the financial statements referred  to  above present fairly, in
all material respects, the financial position of the Company as of December 31,
2004, and the results of its operations and its cash flows  for  the year ended
December  31,  2004,  in  conformity  with  U.S.  generally accepted accounting
principles.

The  accompanying  financial statements have been prepared  assuming  that  the
Company will continue  as  a  going  concern.   As  discussed  in Note 1 to the
financial statements, the Company has suffered losses from operations,  all  of
which raise substantial doubt about its ability to continue as a going concern.
Management's  plans  in  regards to these matters are also described in Note 1.
The financial statements do  not include any adjustments that might result from
the outcome of this uncertainty.

/s/ Franklin Griffith & Associates
March 21, 2005
Las Vegas, Nevada






                              SIAM IMPORTS, INC.
                         (A Development Stage Company)
                                Balance Sheets
                       As of December 31, 2005 and 2004
                                    AUDITED

<TABLE>
<CAPTION>
						   Dec 31,	   Dec 31,
						    2005	    2004
						===========	===========
<S>						<C>		<C>
ASSETS
  Current Assets
     Checking/Savings
	Cash in Bank				$	 58	$    13,036
						-----------	-----------
     Total Checking/Savings				 58	     13,036

     Other Current Assets
	Inventory					  -	      4,972
						-----------	-----------
     Total Other Current Assets				  -	      4,972
						-----------	-----------

	Total Current Assets				 58	     18,008
						-----------	-----------

TOTAL ASSETS 					$	 58	$    18,008
						===========	===========

LIABILITIES & EQUITY

Liabilities
  Current Liabilities
     Accounts Payable
	Accounts Payable			$	  -	$     2,987
						-----------	-----------
     Total Accounts Payable				  -	      2,987
     Other Current Liabilities
	Loan Payable				      2,359		  -
						-----------	-----------
     Total Other Current Liabilities		      2,359		  -
						-----------	-----------

	Total Current Liabilities		      2,359	      2,987
						-----------	-----------

	Total Liabilities			      2,359	      2,987

Equity
     Additional Paid-in-Capital			     43,200	     43,200
     Common Stock (25,000,000 shares
      authorized, 8,000,000 shares
      issued and outstanding, and
      1,800,000 issued and outstanding		     32,800	      1,800
     Accumulated Deficit			    (78,301)	    (29,979)
						-----------	-----------

	Total Equity				     (2,301)	     15,021

TOTAL LIABILITIES & EQUITY			$	 58	$    18,008
						===========	===========

</TABLE>


                See accompanying notes to financial statements.

                              SIAM IMPORTS, INC.
                         (A Development Stage Company)
                           Statements of Operations
                                    AUDITED

<TABLE>
<CAPTION>
										May 27, 2003
										  (Date of
						 Jan - Dec	 Jan - Dec	 Inception)
						    2005	    2004	 - Dec 2005
						===========	===========	===========
<S>						<C>		<C>		<C>
Revenue
   Revenue					$	  -	$	  -	$	  -

Operating Expenses
   General and Administrative			$    13,245	$    14,223	$    35,160
   Professional Fees				     35,000	      6,764	     42,764
						-----------	-----------	-----------
	Total Expense				     48,245	     20,987	     77,924
						-----------	-----------	-----------

Losses from Operations				    (48,245)	    (20,987)	    (77,924)

Other Income (Expenses)
   Other Expense
     Miscellaneous Expense				 77		300		377
     Interest Expense					  -		  -		  -
						-----------	-----------	-----------
	Total Other Expense				 77		300		377

Losses before provision for
 income taxes and minority interest		    (48,322)	    (21,287)	    (78,301)

Provision from income taxes				  -		  -		  -
						-----------	-----------	-----------

Net Loss					$   (48,322)	$   (21,287)	$   (78,301)
						===========	===========	===========
Basic and diluted loss per
 common share					$     (0.01)	$     (0.01)	$     (0.01)
						-----------	-----------	-----------
Basic and diluted weighted
 average common share outstanding		  8,000,000	  1,800,000	  8,000,000
						-----------	-----------	-----------
</TABLE>







                See accompanying notes to financial statements.
<PAGE>
                              SIAM IMPORTS, INC.
                         (A Development Stage Company)
                           Statements of Cash Flows
                                    AUDITED

<TABLE>
<CAPTION>
											May 27, 2003
											  (Date of
							 Jan - Dec	 Jan - Dec	 Inception)
							    2005	    2004	 - Dec 2005
							===========	===========	===========
<S>							<C>		<C>		<C>
Cash flow from
 Operating Activities:
----------------------
  Net Loss						$   (48,322)	$   (21,287)	$   (78,301)
  Adjustments to reconcile net loss to
   net cash used by operating activities:
     Stock issued for services				     31,000		  -	     31,000
     (Increase) Decrease in inventory			      4,972	     (4,972)		  -
     Increase (Decrease) in accounts payable		     (2,987)	      2,987		  -
     Increase (Decrease) in loan payable		      2,359		  -	      2,359
							-----------	-----------	-----------

  Net cash used by operating activities			$   (12,978)	$   (23,272)	$   (44,942)

Cash flow from
 Investing Activities:
----------------------
  Net cash used by investing activities			$	  -	$	  -	$	  -

Cash flow from
 Financing Activities:
----------------------
  Net cash provided by financing activities		$	  -	$	  -	$    45,000

Net Decrease in cash					    (12,978)	    (23,272)		 58

Cash at beginning of period				     13,036	     36,308		  -
							-----------	-----------	-----------

Cash at end of period					$	 58	$    13,036	$	 58
							===========	===========	===========
</TABLE>

                 See accompany notes to financial statements.




                              SIAM IMPORTS, INC.
                         (A Development Stage Company)
                      Statement of Stockholders' Deficit
                                    AUDITED

<TABLE>
<CAPTION>
											   Total
				Common Stock		  Paid-In	Accumulated	Stockholders'
			   Shares	   Amount	  Capital	  Deficit 	  Deficit
			===========	===========	===========	===========	===========
<S>			<C>		<C>		<C>		<C>		<C>
Balance at May 27,
2003 (inception)		  -	$	  -	$	  -	$	  -	$	  -

Common Stock Issued
for cash -
May 27, 2003		  1,000,000	      1,000	      4,000		  -	      5,000

Common Stock Issued
for cash -
September 23, 2003          800,000		800	     39,200		  -	     40,000

Net loss			  -		  -		  -	     (8,692)	     (8,692)
			-----------	-----------	-----------	-----------	-----------
Balance,
December 31, 2003         1,800,000	      1,800	     43,200	     (8,692)	     36,308
			===========	===========	===========	===========	===========

Net loss			  -		  -		  -	    (21,287)	    (21,287)
			-----------	-----------	-----------	-----------	-----------
Balance,
December 31, 2004         1,800,000	      1,800	     43,200	    (29,979)	     15,021
			===========	===========	===========	===========	===========
Common Stock Issued
for services -
November 29, 2005         6,200,000	     31,000		  -		  -	     31,000

Net loss			  -		  -		  -	    (48,322)        (48,322)
			-----------	-----------	-----------	-----------	-----------
Balance,
December 31, 2005	  8,000,000	$    32,800	$    43,200	$   (78,301)	$    (2,301)
			===========	===========	===========	===========	===========
</TABLE>

                 See accompanying notes to financial statements.

                              Siam Imports, Inc.
                         (A Development Stage Company)
                         Notes to Financial Statements

1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES

Description of business and history - Siam Imports, Inc., a Nevada corporation,
(hereinafter referred to as  the  "Company" or "Siam Imports") was incorporated
in the State of Nevada on May 27, 2003. The Company was formed to engage in the
importation and distribution of Southeast  Asian  gifts and decorative items to
the North American marketplace. The Company has sourced  the following products
in  Thailand  and has purchased samples in order to wholesale  them  to  retail
businesses starting  around  the  Ontario region of Canada: hand made stainless
steel cutlery, Thai silk products,  products  made  from mango wood, ornamental
wall  hangings  and  all  natural  skin care and beauty products.  The  Company
operations have been limited to general administrative operations, purchasing a
limited amount of sample inventory,  establishing  its online webs store and is
considered  a  development  stage  company  in  accordance  with  Statement  of
Financial   Accounting   Standards   No.   7.   The   Company's    website   is
www.siamimportsinc.com .

Management  of  Company - The Company filed its articles of incorporation  with
the Nevada Secretary  of  State on May 27, 2003, indicating Sandra L. Miller on
behalf of Resident Agents of Nevada, Inc. as the sole incorporator.

The company filed its annual  list  of  officers  and directors with the Nevada
Secretary of State on May 31, 2005, indicating its  President  and Treasurer as
Dennis Eldjarnson, its Secretary as Debbie Eldjarnson and Nutjaree  Saenjaen as
a director. On October 11, 2005 Nutjaree Saenjaen resigned and Taber  Wetz were
appointed as director.

Going  concern  -  The Company incurred accumulated net losses of approximately
$78,301 from the period  of  May  27, 2003 (Date of Inception) through December
31, 2005 and has commenced limited operations, rather, still in the development
stages, raising substantial doubt about  the Company's ability to continue as a
going concern. The Company will seek additional  sources of capital through the
issuance of debt or equity financing, but there can be no assurance the Company
will be successful in accomplishing its objectives.

The  ability  of the Company to continue as a going  concern  is  dependent  on
additional sources  of  capital  and  the  success  of  the Company's plan. The
financial statements do not include any adjustments that  might be necessary if
the Company is unable to continue as a going concern.

Year end - The Company's year end is December 31.

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

Property and equipment  -  Property  and  equipment  are  stated  at  cost less
accumulated depreciation. Depreciation is provided principally on the straight-
line  method over the estimated useful lives of the assets, which are generally
3 to 27  years.  The  amounts of depreciation provided are sufficient to charge
the cost of the related assets to operations over their estimated useful lives.
The  cost  of repairs and  maintenance  is  charged  to  expense  as  incurred.
Expenditures  for  property betterments and renewals are capitalized. Upon sale
or  other  disposition   of   a  depreciable  property,  cost  and  accumulated
depreciation are removed from the accounts and any gain or loss is reflected in
other income.

The  Company  periodically evaluates  whether  events  and  circumstances  have
occurred that may warrant revision of the estimated useful life of fixed assets
or whether the  remaining  balance  of  fixed  assets  should  be evaluated for
possible  impairment. The Company uses an estimate of the related  undiscounted
cash flows  over  the  remaining  life  of  the fixed assets in measuring their
recoverability. As of December 31, 2005, the  Company does not own any property
or equipment.

Income taxes - The Company accounts for its income  taxes  in  accordance  with
Statement of Financial Accounting Standards No. 109, which requires recognition
of deferred tax assets and liabilities for future tax consequences attributable
to  differences  between  the  financial statement carrying amounts of existing
assets and liabilities and their  respective  tax  bases  and  tax credit carry
forwards.  Deferred tax assets and liabilities are measured using  enacted  tax
rates expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax
assets and liabilities  of a change in tax rates is recognized in operations in
the period that includes the enactment date.

Management feels the Company  will  have  a  net operating loss carryover to be
used  for future years. Such losses may not be  fully  deductible  due  to  the
significant  amounts of non-cash service costs. The Company has not established
a valuation allowance for the full tax benefit of the operating loss carryovers
due to the uncertainty regarding realization.

Net loss per common  share  -  The  Company  computes  net  loss  per  share in
accordance  with  SFAS  No.  128,  Earnings  per Share (SFAS 128) and SEC Staff
Accounting Bulletin No. 98 (SAB 98). Under the  provisions  of SFAS 128 and SAB
98, basic net loss per share is computed by dividing the net  loss available to
common stockholders for the period by the weighted average number  of shares of
common stock outstanding during the period. The calculation of diluted net loss
per  share gives effect to common stock equivalents; however, potential  common
shares  are  excluded  if their effect is antidilutive. For the period from May
27, 2003 (Date of Inception) through December 31, 2005, no options and warrants
were excluded from the computation  of diluted earnings per share because their
effect would be antidilutive.

Revenue recognition - The Company has no revenues to date from its operations.

Legal Procedures - The Company is not  aware  of,  nor  is  it  involved in any
pending legal proceedings.

Stock-based  compensation  -  The  Company applies Accounting Principles  Board
("APB") Opinion No. 25, Accounting for  Stock  Issued to Employees, and Related
Interpretations, in accounting for stock options  issued  to  employees.  Under
APB No. 25, employee compensation cost is recognized when estimated  fair value
of  the  underlying  stock  on date of the grant exceeds exercise price of  the
stock option.  For stock options  and  warrants  issued  to  non-employees, the
Company  applies  SFAS No. 123, Accounting for Stock-Based Compensation,  which
requires the recognition  of  compensation  cost  based  upon the fair value of
stock options at the grant date using the Black-Scholes option pricing model.

The following table represents the effect on net loss and loss per share if the
Company had applied the fair value based method and recognition  provisions  of
Statement  of  Financial  Accounting  Standards (SFAS) No. 123, "Accounting for
Stock-Based Compensation", to stock-based  employee  compensation  for the year
ended December 31, 2005:

                                     2005
                                     ----

Net loss, as reported                           	$    (48,322)
Other comprehensive income                         	          --
Add:  Stock-based employee compensation expense
      included in reported loss, net of related
      tax effects                                  	          --
Deduct: Total stock-based employee compensation
        expense determined under fair value based
        method for all awards, net of related tax
        effects                                  	          --

Pro forma net loss                              	$    (48,322)

Net loss per common share:
    Basic and fully diluted loss per share,
    as reported                                 	$      (0.01)

    Basic and fully diluted loss per share,
    pro forma                                   	$      (0.01)


There  were  no  stock options granted for the period ended December 31,  2005.
There are additionally  no  written or verbal agreements related to the sale of
any stock, option or warrants of the Company's common stock.

SFAS No. 148 - in December 2002,  the FASB issued SFAS No. 148, "Accounting for
Stock-Based Compensation-Transition  and  Disclosure".  SFAS No. 148 amends the
transition and disclosure provisions of SFAS No. 123. The  Company is currently
evaluating SFAS No. 148 to determine if it will adopt SFAS No.  123  to account
for  employee  stock  options  using the fair value method and, if so, when  to
begin transition to that method.

In November 2004, the FASB issued  SFAS  No. 151, Inventory Costs, an amendment
of ARB No. 43, Chapter 4. SFAS No. 151 amends  the  guidance  in  ARB  No.  43,
Chapter 4, Inventory Pricing, to clarify the accounting for abnormal amounts of
idle  facility  expense,  freight,  handing costs, and spoilage. This statement
requires that those items be recognized as current period charges regardless of
whether  they  meet the criterion of "so  abnormal"  which  was  the  criterion
specified in ARB  No.  43. In addition, this Statement requires that allocation
of fixed production overheads  to  the  cost  of  production be based on normal
capacity of the production facilities. This pronouncement  is effective for the
Company  beginning  October 1, 2005. The Company has determined  that  adopting
this new standard has no impact at this time.

In December 2004, the  FASB  issued  SFAS  No.  123  (revised 2004) Share-Based
Payment,  which  is  a  revision  of SFAS No. 123, Accounting  for  Stock-Based
Compensation. SFAS No. 123(R) supersedes  APB  Opinion  No.  25, Accounting for
Stock  Issued  to Employees, and amends SFAS No. 95, Statement of  Cash  Flows.
Generally, the approach in SFAS No. 123(R) is similar to the approach described
in SFAS No. 123.  However, SFAS No. 123(R) requires all share-based payments to
employees, including  grants of employee stock options, to be recognized in the
income statement based  on their fair values. Pro forma disclosure is no longer
an alternative. The new standard will be effective for the Company in the first
interim or annual reporting  period  beginning  after  December  15,  2005. The
Company does not expect the adoption of this standard to have a material impact
on its financial statements.

In  May  2005,  the  FASB  issued  SFAS No. 154,  "Accounting Changes and Error
Corrections"  ("SFAS 154").  SFAS 154  replaces  Accounting   Principles  Board
Opinion  No. 20  "Accounting  Changes"  and  SFAS No. 3, "Reporting  Accounting
Changes in Interim Financial Statements-An Amendment  of  APB  Opinion No. 28."
SFAS 154  provides  guidance on the accounting for and reporting of  accounting
changes and error corrections. SFAS 154 requires "retrospective application" of
the direct effect of  a  voluntary  change  in  accounting  principle  to prior
periods'  financial statements where it is practicable to do so. SFAS 154  also
redefines the term "restatement" to mean the correction of an error by revising
previously  issued  financial  statements. SFAS 154 is effective for accounting
changes and error corrections made in fiscal years beginning after December 15,
2005 unless adopted early. WE DO  NOT EXPECT the adoption of SFAS 154 to have a
material impact on its consolidated  financial  position, results of operations
or  cash flows, except to the extent that the statement  subsequently  requires
retrospective application of a future item.

In February  2006,  the FASB issued Statement of Financial Accounting Standards
No. 155, Accounting for  Certain Hybrid Financial Instruments ("SFAS No. 155"),
which amends Statement of  Financial  Accounting  Standards No. 133, Accounting
for  Derivative  Instruments  and  Hedging  Activities  ("SFAS   No. 133")  and
Statement  of Financial Accounting Standards No. 140, Accounting for  Transfers
and Servicing  of  Financial  Assets  and Extinguishments of Liabilities ("SFAS
No. 140"). SFAS No. 155 permits fair value measurement for any hybrid financial
instrument that contains an embedded derivative  that  otherwise  would require
bifurcation,  establishes  a  requirement  to evaluate interests in securitized
financial assets to identify interests that  are  freestanding  derivatives  or
hybrid  financial  instruments containing embedded derivatives.   WE EXPECT the
adoption of SFAS 155  to  have  a material impact on its consolidated financial
position, results of operations or cash flows.

In  March 2006, the FASB issued Statement  of  Financial  Accounting  Standards
No. 156,  Accounting  for Servicing of Financial Assets ("SFAS No. 156"), which
amends FASB Statement No.  140  ("SFAS  No.  140").  SFAS 156 may be adopted as
early  as  January 1, 2006, for calendar year-end entities,  provided  that  no
interim financial  statements  have  been  issued.  Those not choosing to early
adopt are required to apply the provisions as of the  beginning  of  the  first
fiscal  year  that  begins after September 15, 2006 (e.g., January 1, 2007, for
calendar year-end entities).  The intention of the new statement is to simplify
accounting for separately  recognized servicing assets and liabilities, such as
those common with mortgage securitization  activities,  as  well as to simplify
efforts to obtain hedge-like accounting.  Specifically, the FASB  said  FAS No.
156  permits  a  servicer using derivative financial instruments to report both
the derivative financial instrument and related servicing asset or liability by
using a consistent  measurement attribute, or fair value.  WE DO NOT EXPECT the
adoption of SFAS 155  to  have  a material impact on its consolidated financial
position, results of operations or cash flows.

2. PROPERTY AND EQUIPMENT

As  of  December  31,  2005, the Company  does  not  own  any  property  and/or
equipment.

3. STOCKHOLDER'S EQUITY

The  Company  has  25,000,000   shares  authorized  and  8,000,000  issued  and
outstanding as of December 31, 2005.  The  issued  and  outstanding shares were
issued as follows:

500,000 common shares were issued to Dennis Eldjarnson on  May 27, 2003 for the
sum of $2,500 in cash.

800,000 common shares were issued to 32 investors in the Company's Regulation D
- Rule 504 offering for the sum of $40,000 in cash.  The Regulation  D  -  Rule
504  offering was declared effective by the State of Nevada on August 22, 2003,
sold in  September  2003  to foreign investors in Canada and a Form D was filed
with the Securities and Exchange Commission.

500,000 common shares were  issued to Debbie Eldjarnson on May 27, 2003 for the
sum of $2,500 in cash.

6,200,000 common shares were  issued  to  MAC Partners, LP on November 29, 2005
for $31,000 of consulting services.

4. LOAN FROM STOCKHOLDER

As  of  December 31, 2005, there was a loan to  the  Company  from  the  former
president in the amount of $2,359, this loan is non-interest bearing.

5. RELATED PARTY TRANSACTIONS

Other than  noted  above,  the  Organization  has  no significant related party
transactions and/or relationships with any individuals or entities.

6. STOCK OPTIONS

As  of  December  31,  2005,  the  Company  does  not  have any  stock  options
outstanding, nor does it have any written or verbal agreements for the issuance
or distribution of stock options at any point in the future.

7. LITIGATION

As  of December 31, 2005, the Company is not aware of any  current  or  pending
litigation which may affect the Company's operations.

8. SUBSEQUENT EVENTS

The intended  merger  with  Vaughan  Foods,  Inc. was never consummated and the
agreement is no longer valid. As detailed in the  Company's  8K  filed February
21, 2006, the agreement to terminate followed a determination by Vaughn  Foods,
Inc.  that  it  first  wanted  to secure additional private funding. The mutual
termination agreement settles all  matters  between  the  two companies, and no
termination fees were imposed upon either party.


Item 8. Disagreements with Accountants on Accounting and Financial Disclosures
        ---------------------------------------------------------------
There  have been no disagreements with our accountants on accounting  or  other
financial  disclosures.  Our  former  accountant, Clyde Bailey, PC, resigned in
March 2005 for health and other reasons,  at  which time, we appointed Franklin
Griffith & Associates, an independent certified  public accounting firm located
in Las Vegas, Nevada, as our principal accounting  firm.  Clyde  Bailey's audit
report on our financial statements for the year ended December 31, 2003 did not
contain any adverse opinion or disclaimer of opinion, and was not  modified  as
to uncertainty, audit scope or accounting principles.

The  decision  to  change  auditors  was  recommended  to  the stockholders and
approved  by  the Board of Directors and by majority vote of the  stockholders,
based solely on the reason that Clyde Bailey, PC, resigned for health and other
reasons. There  have  been no disagreements with Clyde Bailey PC, on any matter
of accounting principles  or  practices,  financial  statement  disclosure,  or
auditing scopes or procedures.

Item 8a. Accounting Controls and Procedures
         ----------------------------------
Accounting Policies
-------------------
The  financial  statements  included  herein have been prepared pursuant to the
rules and regulations of the Securities  and  Exchange  Commission.  Management
believes  the  disclosures  made  are  adequate  to  make  the  information not
misleading.  The  financial  statements and accompanying notes are prepared  in
accordance with generally accepted  accounting  principles. Preparing financial
statements 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. These estimates
and  assumptions  are  affected  by  Management's   application  of  accounting
policies. These important accounting policies include  the  successful  efforts
method   of   accounting  for  property  and  equipment,  revenue  recognition,
accounting for income taxes and foreign currency translation.

Management maintains disclosure controls and procedures designed to ensure that
we are able to  timely  collect  the information we are required to disclose in
our reports filed with the U.S. Securities  and Exchange Commission. Within the
90 days prior to the date of this annual report,  we  performed  an evaluation,
under  the  supervision  and with the participation of our Management,  of  the
effectiveness of the design  and  operation  of  our  disclosure  controls  and
procedures pursuant to Exchange Act Rule 13a-14. Based upon the evaluation, our
Principal Executive Officer and Principal Accounting Officer concluded that the
current disclosure controls are effective in timely alerting us to any material
information required to be included in our periodic SEC filings.

We  also  maintain a system of internal controls designed to provide reasonable
assurance that  (i)  transactions  are executed in accordance with Management's
general and specific authorization; (ii) transactions are recorded as necessary
to  permit preparation of financial statements  in  conformity  with  generally
accepted  accounting principles and to maintain accountability for assets; (ii)
access to assets  is  permitted only in accordance with Management's general or
specific authorization;  and  (iv)  the  recorded  accountability for assets is
compared  with  the  existing  assets at reasonable intervals  and  appropriate
action is taken with respect to  any  differences. We believe that our internal
controls  are  effective to provide reasonable  assurance  that  our  financial
statements  are  fairly   presented   in  conformity  with  generally  accepted
accounting principals. Since our most recent  evaluation,  there  have  been no
changes  in  our internal controls or in other factors that could significantly
affect our internal  controls,  nor  were  any corrective actions required with
regard to significant deficiencies and material weaknesses.


                                   PART III
                                   ========

Item 9. Directors, Executive Officers, Promoters and Control
        Persons; Compliance with Section 16(a) of the Exchange Act
        ----------------------------------------------------------
The following table sets forth the names, positions  and  ages of the executive
officers  and  directors.  Directors  are  elected  at  the annual  meeting  of
stockholders and serve for one year or until their successors  are  elected and
qualify.  Officers  are  elected  by the Board of Directors and their terms  of
office  are,  except to the extent governed  by  employment  contract,  at  the
discretion of the Board of Directors.

Name                        Age     Position(s)
----                        ---     -----------

Dennis Eldjarnson(1)        55      President, Treasurer
                                    and Director

Deborah Eldjarnson(1)       46      Secretary and
                                    Director

Taber Wetz                  27      Director


(1) Dennis and Deborah Eldjarnson are husband and wife.

Dennis Eldjarnson  and  Deborah  Eldjarnson  have  held their offices/positions
since inception. Tabor Wetz was appointed a Director on October 11, 2005 and is
President of MAC Partners, LP. Dennis Eldjarnson and Tabor Wetz are expected to
hold said offices/positions until the next annual meeting of stockholders.

Background of Officers and Directors
------------------------------------
Dennis Eldjarnson has been the President, CEO, Treasurer, CFO and a Director of
Siam  Imports since our inception. Mr. Eldjarnson is  a  Registered  Relocation
Specialist  and  has achieved membership in the "President's Gold Club" and the
"100% Club." From  March  2001 to present, Mr. Eldjarnson has been selling real
estate as an independent contractor for Royal Lepage Real Estate, Ltd. and is a
member of the Toronto Real  Estate Board in Mississauga, Ontario. Since he is a
self-employed, independent contractor, he is able to set his own hours of work,
which  vary from 10-40 hours per  week.  From  May  1991  to  March  2001,  Mr.
Eldjarnson had been selling real estate as an independent contractor for Re/Max
Realty Specialists  Inc.;  a  member  of  the  Toronto  Real  Estate  Board  in
Mississauga,  Ontario.  Mr.  Eldjarnson  has previous experience working in the
import/export business from 1968 to 1972 in  Vancouver,  BC,  where he imported
sculpted  art work from the Far East and sold it to department store  retailers
and local art shops.

Deborah Eldjarnson  has  been our Secretary and a Director since our inception.
From March 1995 to present,  Mrs.  Eldjarnson  has  been  employed  by the Peel
District  School  Board  in  the  city  of  Mississauga,  Ontario as a teaching
assistant. She is a full-time school teacher, who works approximately  35 hours
per week; however, she does not work in the summers and intends to devote  full
time to our business during the summer hours. Mrs. Eldjarnson earned a Bachelor
of Arts degree from The University of Toronto in 1978.

Taber  Wetz has been a Director of the Company since October 11, 2005. Mr. Wetz
is President  of  MAC Partners, LP and has served as such since April 2005. Mr.
Wetz began work as  a  financial  analyst and has been working for MAC Partners
since 2002. Prior to working with MAC  Partners, Mr. Wetz worked as a financial
analyst for Visual Strategies, LLC in 2001  and Remote Solutions, Inc. in 2002.
Mr. Wetz also worked for Aurion Technologies  in  2000  and 2001 as a financial
analyst.  Mr.  Wetz received a Bachelor degree in Finance from  Oklahoma  State
University in 2001.

Section 16(a) Beneficial Ownership Reporting Compliance
-------------------------------------------------------
Section 16(a) of the Securities Exchange Act of 1934 requires our directors and
executive officers,  and  persons  who  own more than ten percent of our Common
Stock, to file with the Securities and Exchange  Commission  initial reports of
ownership  and  reports of changes of ownership of our Common Stock.  Officers,
directors and greater  than  ten  percent  stockholders  are  required  by  SEC
regulation to furnish us with copies of all Section 16(a) forms they file.

To  the  best  of  our  knowledge, during the year ended December 31, 2005, all
Section 16(a) filing requirements  applicable  to  our  officers, directors and
greater than ten percent beneficial owners were complied  with. In making these
disclosures, we have relied solely on a review of the copies  of  such  reports
furnished  to  us  and  written  representations  by  our  directors, executive
officers and greater than ten percent stockholders.

Code of Ethics
--------------
At this time, we have not adopted a formal Code of Ethics that  applies  to the
Chief Executive Officer and Chief Financial Officer. We have, however, followed
an informal Code of Ethics requiring Board of Director approval of any material
transaction  involving  our  Chief  Executive  Officer  and/or  Chief Financial
Officer.  We  believe this procedure reasonably deters material wrongdoing  and
promotes honest and ethical conduct from our executive officers.

Item 10. Executive Compensation
         ----------------------
Our officers and  directors  do  not  presently  receive  any  cash or non-cash
compensation for their services and there are currently no plans  to  implement
any  such  compensation.  They  are,  however, reimbursed for any out-of-pocket
expenses incurred on our behalf.
<PAGE>
-----------------------------------------------------------------
                  SUMMARY COMPENSATION TABLE
-----------------------------------------------------------------
                        Annual Compensation     Long-Term Comp.
                                       Other    Awards    Payouts
Name and                               Annual
Position(s)       Year  Salary  Bonus  Comp.
-----------------------------------------------------------------
Dennis Eldjarnson  2005     -      -      -         -           -
President          2004     -      -      -         -           -
                   2003     -      -      -         -           -

Deborah Eldjarnson 2005     -      -      -         -           -
Secretary          2004     -      -      -         -           -
                   2003     -      -      -         -           -

Nutjaree Saengjan  2005     -      -      -         -           -
Resigned 10/11/05  2004     -      -      -         -           -
                   2003     -      -      -         -           -

Taber Wetz         2005     -      -      -         -           -
Director

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

Employment Agreements
---------------------
The officers and directors are not currently party to any employment agreements
and we do not presently have any pension,  health,  annuity,  insurance,  stock
options,  profit  sharing  or similar benefit plans; however, it may adopt such
plans in the future. There are  presently  no  personal  benefits  available to
directors, officers or employees.

ITEM 11. Security Ownership of Certain Beneficial Owners and Management
         --------------------------------------------------------------
The  following  table  sets  forth  certain information regarding Common  Stock
beneficially owned on the date of this filing for (i) each shareholder known by
us to be the beneficial owner of five  (5%)  percent  or more of our issued and
outstanding Common Stock, (ii) each executive officers and directors, and (iii)
all executive officers and directors as a group. As of  the  date of the filing
of this registration statement, there were 1,800,000 shares of our Common Stock
issued and outstanding.

Name and Address         Amount and Nature of
 of Beneficial                Beneficial            Percent of
   Owner (1)                 Ownership (2)            Class
----------------        ---------------------       ----------

Dennis Eldjarnson (3)          500,000                 6.95%
President, CEO, Treasurer,
CFO and Director
Suite 1801-1 Yonge Street
Toronto, Ontario
Canada M5E 1W7

Deborah Eldjarnson(3)          500,000                 6.94%
Secretary and Director
Suite 1801-1 Yonge Street
Toronto, Ontario
Canada M5E 1W7

MAC Partners, LP.             6,200,000                86.11%
Taber Wetz, President
3001 Knox Street, Ste 407
Dallas, TX 75205
------------------------------------------------------------------------
Officers and Directors
as a Group (3 persons)        7,200,000               90.00%

(1) The persons named above, who are the only officers, directors and principal
shareholders, may be deemed to be parents and promoters, within  the meaning of
such  terms  under  the  Securities  Act  of  1933,  by  virtue of their direct
securities holdings.

(2) In general, a person is considered a beneficial owner of a security if that
person has or shares the power to vote or direct the voting  of  such security,
or the power to dispose of such security. A person is also considered  to  be a
beneficial owner of any securities of which the person has the right to acquire
beneficial ownership within (60) days.

(3) Dennis and Deborah Eldjarnson are husband and wife and as such, jointly own
1,000,000 shares or 13.89% of our issued and outstanding common stock.

There are currently no options, warrants, rights or other securities conversion
privileges granted to our officers, directors or beneficial owners and no plans
to issue any such rights in the future.

Changes in Control
------------------
There  are  no  arrangements  known  to  us,  the  operation  of which may at a
subsequent date result in a change of control of our company.

Item 12. Certain Relationships and Related Transactions
         ----------------------------------------------
We are currently using the home of our President, Dennis Eldjarnson, at no cost
to  us;  however,  at such time as our business expands and this space  becomes
insufficient, we will  seek  to  lease  larger  warehouse  space  for inventory
storage.  There  is  no  written  lease  agreement  or other material terms  or
arrangements relating to our agreement with Mr. Eldjarnson  to use his home. We
do not have any other related transactions and have not yet formulated a policy
for the resolution of any related transaction conflicts, should they arise.

Item 13. Exhibits and Reports on Form 8-K
         --------------------------------
(a)  1  &  2.  Financial  Statements.  See  Item  7  in  Part II; the financial
statements required to be filed herein are contained in that  section  in their
entirety.

(a) 3. The following exhibits, marked with an asterisk and required to be filed
hereunder,  are  incorporated  herein  by  reference  and can be found in their
entirety  in our original Form 10-SB Registration Statement,  filed  under  CIK
Number 0001295923, on the SEC website at www.sec.gov:
<PAGE>
Exhibit No.     Description
----------      -----------
* 3(i)          Articles of Incorporation
* 3(ii)         Bylaws
 23             Consent of Accountants
 31             Sec. 302 Certification of CEO/CFO
 32             Sec. 906 Certification of CEO/CFO

(b) There were  two  reports on Form 8-K filed and one amended Form 8-K for the
year ended December 31,  2005. Copies can be found in their entirety on the SEC
website at www.sec.gov, under our CIK Number 0001295923.








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


SIAM IMPORTS, INC. (Registrant)

/s/ Dennis Eldjarnson                Date: May 15, 2006
--------------------------------
By: Dennis Eldjarnson,
    President, Chief Executive
    Officer, Chief Financial
    Officer, Treasurer and
    Principal Accounting Officer

/s/ Deborah Eldjarnson               Date: May 15, 2006
---------------------------------
By: Deborah Eldjarnson, Secretary



/s/ Taber Wetz                       Date: May 15, 2006
---------------------------------
By: Taber Wetz, Director