----

----

| Nevada                                        | 20-2066406     |
|-----------------------------------------------|---------------------|
| (State or Other Jurisdiction of Incorporation | (I.R.S. Employer    |
| or Organization)                              | Identification No.) |

| 400 South Beverly Drive, Suite 312, Beverly Hills, California | 90212      |
|---------------------------------------------------------------|------------|
| (Address of Principal Executive Offices)                      | (Zip Code) |

----

| Large accelerated filer  o | Accelerated filer  o |
|--------------------------------------|--------------------------------|
|                                 |                           |
| Non-accelerated filer  o   | Smaller reporting company x    |

----

| PART I – FINANCIAL INFORMATION                                                                                                                                                                                         |             PAGE |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 1.  FINANCIAL STATEMENTS                                                                                                              | 4                                                                            |
|                                                                                                                                                                                                                         |                                                                         |
|                             CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2012 |                                                                         |
|                             (UNAUDITED) AND DECEMBER 31, 2011                    | 4                                                                            |
|                                                                                                                                                                                                                         |                                                                         |
| CONSOLIDATED STATEMENTS OF OPERATIONS                                                                                                                                                                                        |                                                                         |
| (UNAUDITED) FOR THE THREE AND NINE MONTHS                                                                                                                                                                                    |                                                                         |
| ENDED SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011 AND                                                                                                                                                                          |                                                                         |
| PERIOD OF INCEPTION THROUGH SEPTEMBER 30, 2012                                                                                                                                                                               | 6                                                                            |
|                                                                                                                                                                                                                         |                                                                         |
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS                                                                                                                                                                                |                                                                         |
| (UNAUDITED) FOR THE THREE AND NINE MONTHS                                                                                                                                                                                    |                                                                         |
| ENDED SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011 AND                                                                                                                                                                          |                                                                         |
| PERIOD OF INCEPTION THROUGH SEPTEMBER 30, 2012                                                                                                                                                                               | 8                                                                            |
|                                                                                                                                                                                                                         |                                                                         |
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                                                                                                        |                                                                         |
| (UNAUDITED) FOR THE NINE MONTHS ENDED                                                                                                                                                                                        |                                                                         |
| SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011 AND                                                                                                                                                                                |                                                                         |
| PERIOD OF INCEPTION THROUGH SEPTEMBER 30, 2012                                                                                                                                                                               | 9                                                                            |
|                                                                                                                                                                                                                         |                                                                         |
| NOTES TO UNAUDITED CONSOLIDATED                                                                                                                                                                                              |                                                                         |
| FINANCIAL STATEMENTS                                                                                                                                                                                                         | 12                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF                                                                                          |                                                                         |
|                             FINANCIAL CONDITION AND RESULTS OF OPERATIONS        | 19                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES                                                                                                          |                                                                         |
|                             ABOUT MARKET RISK                                    | 28                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 4.  CONTROLS AND PROCEDURES                                                                                                           | 28                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
| PART II – OTHER INFORMATION                                                                                                                                                                                            |                                                                         |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 1.  LEGAL PROCEEDINGS                                                                                                                 | 29                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 1A. RISK FACTORS                                                                                                                                | 29                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 2.  UNREGISTERED SALES OF EQUITY                                                                                                      |                                                                         |
|                             SECURITIES AND USE OF PROCEEDS                       | 29                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                                                                                                        | 30                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 4.  MINE SAFETY DISCLOSURES                                                                                                                | 30                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 5.  OTHER INFORMATION                                                                                                                 | 30                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
|             ITEM 6.  EXHIBITS                                                                                                                          | 31                                                                           |
|                                                                                                                                                                                                                         |                                                                         |
| SIGNATURE                                                                                                                                                                                                                    | 31                                                                           |

----

ITEM 

ANDAIN

|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | September 30, 2012(Unaudited) |      |   | December 31, 2011 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|-----------|--------|-------------------|--------|
|                                                                        ASSETS |   |                          |      |   |              |   |
| Current assets:                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                          |      |   |              |   |
|    Cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                             | 2,207     |   |              | $      | 872 |   |
|    Accounts receivable                                                                                                                                                                                                                                                                                                                                                                                                            |   |                          | 799,942   |   |              |   | 930,177 |   |
|       Total current assets                                                                                                                                                                                                                                                                                                                                                                                         |   |                          | 802,149   |   |              |   | 931,049 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
| Property, plant and equipment                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                          | 24,007    |   |              |   | 35,098 |   |
| Intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                          | 20,168    |   |              |   | 20,649 |   |
| Other assets                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          | 173,970   |   |              |   | 360,178 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
| Total assets                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                             | 1,020,294 |   |              | $      | 1,346,974 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Current liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
|     Bank overdrafts                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                             | 788       |   |              |   | 1 |   |
|    Accounts payable and accrued expenses                                                                                                                                                                                                                                                                                                                                                                                          |   |                          | 994,136   |   |              | $      | 1,180,879 |   |
|       Total current liabilities                                                                                                                                                                                                                                                                                                                                                                                    |   |                          | 994,924   |   |              |   | 1,180,880 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
| Long-term liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                          |      |   |              |   |   |   |
|   Long-term debt                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                          | 247,147   |   |              |   | 550,312 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |      |   |              |   |   |   |
| Total liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                          | 1,242,071 |   |              |   | 1,731,192 |   |

----

|                                                                                                                                                                                                      |   | September 30, 2012(Unaudited) |       |   | December 31, 2011 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|--------|-------------------|--------|
| Capital deficiency:                                                                                                                                                                                       |   |                          |       |   |              |   |
|    Preferred stock, $0.001 par value, 10,000,000 authorized  shares; no shares issued and outstanding                                                                            |   |                          | --         |   |              |   | -- |   |
|    Common stock, $0.001 par value, 500,000,000 shares  authorized; 65,334,242 shares issued and outstanding at  September 30, 2012 and 22,034,242 at December 31, 2011 |   |                          | 65,334     |   |              |   | 22,034 |   |
|    Additional paid-in capital                                                                                                                                                              |   |                          | 3,990,155  |   |              |   | 3,890,219 |   |
|    Capital reserves                                                                                                                                                                        |   |                          | 46,000     |   |              |   | 383,989 |   * |
|    Accumulated deficit during development stage                                                                                                                                            |   |                          | (4,129,619 | )      |              |   | (4,214,401 | ) * |

|    Accumulated other comprehensive income (loss) |   |   | (78,145   | )      |   |   | 923       |   |
|-----------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|
| Total Andain, Inc. stockholders’ equity (deficiency)      |   |   | (106,275  | )      |   |   | 82,764    |   |
|                                                            |   |   |      |   |   |   |      |   |
| Non-controlling interest                                        |   |   | (115,502  | )      |   |   | (466,982  | )      |
|                                                            |   |   |      |   |   |   |      |   |
| Total stockholders’ capital deficiency                    |   |   | (221,777  | )      |   |   | (384,218  | )      |
|                                                            |   |   |      |   |   |   |      |   |
| Total liabilities and capital deficiency                        |   | $      | 1,020,294 |   |   | $      | 1,346,974 |   |

----

ANDAIN

|                                                         |   | Three Months EndedSeptember 30, |     |   | Nine Months EndedSeptember 30, |   |     | For the Period of Inception(July 23, 2004) to September 30, |   |
|--------------------------------------------------------------|--------|---------------------------------|----------|--------|--------------------------------|--------|----------|-------------------------------------------------------------|--------|
|                                                         |   | 2012                            |     |   | 2011                           |   |     | 2012                                                        |   |   | 2011 |   |   |  2012 |   |
| Revenue:                                                     |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |
| Government grants                                            |   | $                               | --       |   |                           | $      | 279,298  |                                                        |   | $ | -- |   |   | $ | 421,291 |   |   | $ | 682,690 |   |
| Consulting income                                            |   |                            | 12,158   |   |                           |   | (7,439   | )                                                           |   |   | 88,404 |   |   |   | -- |   |   |   | 472,738 |   |
| Other income                                                 |   |                            |  -- |   |                           |   |  -- |                                                        |   |   |  -- |   |   |   |  -- |   |   |   |  15,000 |   |
|                                                         |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Total revenue                                                |   |                            | 12,158   |   |                           |   | 271,859  |                                                        |   |   | 88,404 |   |   |   | 421,291 |   |   |   | 1,170,428 |   |
|                                                         |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses:                                          |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Research and development                                     |   |                            | (107,270 | )      |                           |   | (220,388 | )                                                           |   |   | (452,043 | ) |   |   | (220,388 | ) |   |   | (822,681 | ) |
| Depreciation                                                 |   |                            | (1,728   | )      |                           |   | (1,920   | )                                                           |   |   | (9,532 | ) |   |   | (5,828 | ) |   |   | (50,157 | ) |
| General and administrative                                   |   |                            | (32,179  | )      |                           |   | (309,127 | )                                                           |   |   | (146,128 | ) |   |   | (763,130 | ) |   |   | (4,300,835 | ) |
| Impairment of goodwill                                       |   |                            | --       |   |                           |   | --       |                                                        |   |   | -- |   |   |   | -- |   |   |   | (412,699 | ) |
| Other income                                                 |   |                            | 610,396  | *      |                           |   | --       |                                                        |   |   | 610,396 | * |   |   | -- |   |   |   | 610,396 |   |
| Loss on disposal of associate                                |   |                            | --       |   |                           |   | --       |                                                        |   |   | -- |   |   |   | -- |   |   |   | (135,424 | ) |
| Impairment loss                                              |   |                            |  -- |   |                           |   |  -- |                                                        |   |   |  -- |   |   |   |  -- |   |   |   |  (177,729 | ) |
|                                                         |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total operating income (expenses)                |   |                            | 469,219  |   |                           |   | (531,435 | )                                                           |   |   | 2,693 |   |   |   | (989,346 | ) |   |   | (5,289,129 | ) |
|                                                         |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Profit (loss) from operations                                |   |                            | 481,377  |   |                           |   | (259,576 | )                                                      |   |   | 91,097 |   |   |   | (568,055 | )  |   |   | (4,118,701 | )  |
|                                                         |   |                            |     |   |                           |   |     |                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Financial income                                             |   |                            | 22,379   |   |                           |   | 19,952   |                                                        |   |   | -- |   |   |   | 19,952 |   |   |   | 84,424 |   |
| Financial expense                                            |   |                            | --       |   |                           |   | (18,675  | )                                                           |   |   | (3,506 | ) |   |   | (22,549 | ) |   |   | (46,989 | ) |
| Share of loss of equity-accounted    Investee |   |                            | --       |   |                           |   | (106,836 | )                                                           |   |   | -- |   |   |   |  (115,996 | ) |   |   | -- |   |

----

|   |   | Three Months EndedSeptember 30, |   |   | Nine Months EndedSeptember 30, |   |   | Period of Inception(July 23, 2004)Through September 30, |   |
|--------|--------|---------------------------------|--------|--------|--------------------------------|--------|--------|---------------------------------------------------------|--------|
|   |   | 2012                            |   |   | 2011                           |   |   | 2012                                                    |   |   | 2011 |   |   | 2012 |   |
|   |   |                            |   |   |                           |   |   |                                                    |   |   |   |   |   |   |   |   |   |   |   |   |

| Net profit (loss)                                                                         |   |   | 503,756 |   |   |   | (365,135     | )      |   |   | 87,591 |   |   |   | (686,648     | )      |   |   | (4,081,266     | )      |
|-------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|--------------|--------|--------|--------|--------|--------|--------|--------|--------------|--------|--------|--------|----------------|--------|
|                                                                                      |   |   |    |   |   |   |         |   |   |   |   |   |   |   |         |   |   |   |           |   |
| Add: Net profit (loss) attributable   to the non-controlling interest |   |   | 66,841  |   |   |   |  51,876 |   |   |   | 2,809  |   |   |   |  36,233 |   |   |   |  (329,336 | )      |

|                                                                                                           |   |   |       |   |   |   |       |   |   |   |       |   |   |   |       |    |   |   |       |   |
|----------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|------------|--------|--------|--------|------------|--------|--------|--------|------------|---------|--------|--------|------------|--------|
| Net profit (loss) attributable to Andain, Inc.   stockholders                              |   | $      | 436,914    |   |   | $      | (417,011   | )      |   | $      | 84,782     |   |   | $      | (722,881   | )       |   | $      | (3,751,930 | )      |
|                                                                                                           |   |   |       |   |   |   |       |   |   |   |       |   |   |   |       |    |   |   |       |   |
|    Profit (loss) per share - basic                                                              |   | $      | 0.016      |   |   | $      | (0.02      | )      |   | $      | 0.004      |   |   | $      | (0.04      | )  |   |   |       |   |
|                                                                                                           |   |   |       |   |   |   |       |   |   |   |       |   |   |   |       |    |   |   |       |   |
|    Profit (loss) per share - diluted                                                            |   | $      | 0.015      |   |   | $      | -          |   |   | $      | 0.003      |   |   | $      | -          |    |   |   |       |   |
|                                                                                                           |   |   |       |   |   |   |       |   |   |   |       |   |   |   |       |    |   |   |       |   |
|    Weighted average common shares      outstanding (basic and diluted) |   |   | 27,438,650 |   |   |   | 19,012,899 |   |   |   | 23,905,304 |   |   |   | 18,358,535 |    |   |   |       |   |

----

ANDAIN

|                                                                   |   | Three Months EndedSeptember 30, |      |   | Nine Months EndedSeptember 30, |   |     | Period of Inception(July 23, 2004)ThroughSeptember 30, |   |
|------------------------------------------------------------------------|--------|---------------------------------|-----------|--------|--------------------------------|--------|----------|--------------------------------------------------------|--------|
|                                                                   |   | 2012                            |      |   | 2011                           |   |     | 2012                                                   |   |   | 2011 |   |   | 2012 |   |
| Net profit (loss) attributable to  Andain, Inc. stockholders |   | $                               | 436,914   |   |                           | $      | (417,011 | )                                                      |   | $ | 84,782 |   |   | $ | (722,881 | ) |   | $ | (3,751,930 | ) |
|                                                                   |   |                            |      |   |                           |   |     |                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive loss:                                              |   |                            |      |   |                           |   |     |                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |                            |      |   |                           |   |     |                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency translation adjustment   of foreign operation  |   |                            | (8,606    | )      |                           |   | 48,415   |                                                   |   |   | (93,754 | ) |   |   | (7,283 | ) |   |   | (75,619 | ) |
|                                                                   |   |                            |      |   |                           |   |     |                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Amount attributed to   non-controlling interest   |   |                            |  (33 | )      |                           |   | --       |                                                   |   |   |  (14,686 | ) |   |   |  -- |   |   |   | (14,686 | ) |
|                                                                   |   |                            |      |   |                           |   |     |                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net comprehensive income (loss) for the   period   |   | $                               | 428,341   |   |                           | $      | (368,596 | )                                                      |   | $ | 5,714 |   |   | $ | (730,164 | ) |   | $ | (3,812,863 | ) |

----

ANDAIN

|                                                                                                                                                                                               |   | Nine Months EndedSeptember 30, |     |   | For the Period from Inception(July 23, 2004) toSeptember 30, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|----------|--------|--------------------------------------------------------------|--------|
|                                                                                                                                                                                               |   | 2012                           |     |   | 2011                                                         |   |   | 2012 |   |
| Cash flow from operating activities:                                                                                                                                                               |   |                           |     |   |                                                         |   |   |   |   |
|   Net profit (loss) attributable to    Andain, Inc.                                                                                                                  |   | $                              | 84,782   |   |                                                         | $      | (686,648 | ) |   | $ | (3,751,930 | ) |
|   Income charges/(credits) not effecting     cash:                                                                                                              |   |                           |     |   |                                                         |   |   |   |   |   |   |   |
|          Depreciation                                                                                                                                 |   |                           | 9,532    |   |                                                         |   | 5,828 |   |   |   | 50,157 |   |
|          Loss from acquisition of subsidiary                                                                                                          |   |                           | --       |   |                                                         |   | -- |   |   |   | 135,424 |   |
|          Amortization of goodwill                                                                                                                     |   |                           | --       |   |                                                         |   | -- |   |   |   | 337,685 |   |
|          Impairment of loan                                                                                                                           |   |                           | --       |   |                                                         |   | -- |   |   |   | 177,729 |   |
|          Minority interest                                                                                                                            |   |                           | 2,809    |   |                                                         |   | - |   |   |   | (209,672 | ) |
|          Shares issued for professional services                                                                                                      |   |                           | --       |   |                                                         |   | 447,500 |   |   |   | 11,910 |   |
|          Non-cash compensation expense                                                                                                                |   |                           | --       |   |                                                         |   | -- |   |   |   | 6,000 |   |
|          Equity-settled share-based payments                                                                                                          |   |                           | 143,236  |   |                                                         |   | -- |   |   |   | 503,536 |   |
|           Loss from equity-accounted investee                                                                                                    |   |                           | --       |   |                                                         |   | 115,996 |   |   |   | -- |   |
|          Effect of movements in foreign             exchange rates on non-cash items |   |                           | --       |   |                                                         |   | (2,181 | ) |   |   | (5,785 | ) |
|   Changes in operating assets and liabilities:                                                                                                                                           |   |                           |     |   |                                                         |   |   |   |   |   |   |   |
|          Accounts payable                                                                                                                             |   |                           | (672,494 | )      |                                                         |   | (426,882 | ) |   |   | 503,408 |   |
|          Accounts receivable                                                                                                                          |   |                           | 108,597  |   |                                                         |   | (174,564 | ) |   |   | (821,234 | ) |
|          Change in other assets                                                                                                                       |   |                           | 54,584   |   |                                                         |   | -- |   |   |   | 54,584 |   |
|          Accrued compensation                                                                                                                         |   |                           | 270,000  |   |                                                         |   | 270,000 |   |   |   | 2,550,000 |   |
|          Accrued expenses – stockholder                                                                                                         |   |                           | --       |   |                                                         |   | -- |   |   |   | 37,508 |   |
|          Accrued consulting fees – stockholder                                                                                                  |   |                           | --       |   |                                                         |   |  -- |   |   |   |  60,000 |   |
|                                                                                                                                                                                               |   |                           |     |   |                                                         |   |   |   |   |   |   |   |
| Net cash provided by (used in)  operating activities                                                                                                                                     |   |                           | 1,046    |   |                                                         |   |  (450,951 | ) |   |   |  (478,049 | ) |

|                                        |   |   |   |   |   |   |   |   |   |
|---------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Cash flow from investing activities:        |   |   |   |   |   |   |   |   |   |
|    Purchase of equipment     |   |   | (480   | )      |   |   | (952   | )      |   |   | (71,028 | ) |
|    Acquisition of subsidiary |   |   | --     |   |   |   | --     |   |   |   | (578,502 | ) |

----

|                                                                                             |   | Nine Months EndedSeptember 30, |     |   | For the Period from Inception(July 23, 2004) toSeptember 30, |   |
|--------------------------------------------------------------------------------------------------|--------|--------------------------------|----------|--------|--------------------------------------------------------------|--------|
|                                                                                             |   | 2012                           |     |   | 2011                                                         |   |   | 2012 |   |
|                                                                                             |   |                           |     |   |                                                         |   |   |   |   |
|    Disposal of interest in equity-accounted     investee |   |                           |  -- |   |                                                         |   |  -- |   |   |   |  -- |   |
|     Acquisition of patent                                                    |   |                           |  -- |   |                                                         |   | -- |   |   |   |  (20,649 | ) |
|                                                                                             |   |                           |     |   |                                                         |   |   |   |   |   |   |   |
| Net cash used in investing activities                                                            |   |                           | (480     | )      |                                                         |   | (952 | ) |   |   | (670,179 | ) |

| Cash flow from financing activities:                     |   |   |     |   |   |   |    |   |   |
|----------------------------------------------------------|--------|--------|----------|--------|--------|--------|---------|--------|--------|
|    Proceeds from bank overdrafts          |   |   | --       |   |   |   | (38,376 | )      |   |   | -- |   |
|    Proceeds from stock issued for cash    |   |   | --       |   |   |   | 355,000 |   |   |   | 519,800 |   |
|    Proceeds from other loans              |   |   | --       |   |   |   | 104,494 |   |   |   | (59,520 | ) |
|    Loan from greater than 10% stockholder |   |   | --       |   |   |   | 797     |   |   |   | (15,754 | ) |
|    Loans from key management personnel    |   |   |  -- |   |   |   | 23,419  |   |   |   |  704,217 |   |

|                                      |   |   |   |   |   |   |    |   |   |
|-------------------------------------------|--------|--------|--------|--------|--------|--------|---------|--------|--------|
| Net cash provided by financing activities |   |   | --     |   |   |   | 445,334 |   |   |   | 1,148,743 |   |

|                                                        |   |   |   |   |   |   |   |   |   |
|-------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Increase (decrease) in cash  and cash equivalents |   |   | 566    |   |   |   | (6,569 | )      |   |   | 216 |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |

| Effects of exchange rate changes on the balance of cash held in foreign currencies |   |   | (19    | )      |   |   | (7,263 | )      |   |   | 903      |   |
|------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|----------|--------|
|                                                                               |   |   |   |   |   |   |   |   |   |   |     |   |
| Cash and cash equivalents,   beginning of period                    |   |   | 872    |   |   |   | 23,672 |   |   |   |  -- |   |
|                                                                               |   |   |   |   |   |   |   |   |   |   |     |   |
| Cash and cash equivalents,   end of period                          |   | $      | 1,419  |   |   | $      | 9,840  |   |   | $      | 1,419    |   |

----

|                                                                                                                                           |   | Nine Months Ended September 30, |   |   | Period of Inception(July 23, 2004)Through |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|--------|-------------------------------------------|--------|
|                                                                                                                                           |   | 2012                            |   |   | 2011                                      |   |   | June 30, 2012 |   |
| Supplementary schedule of  cash flow activities:                                                                                     |   |                            |   |   |                                      |   |   |   |   |
|   Non-cash investing and financing    activities:                                                                |   |                            |   |   |                                      |   |   |   |   |
|     Issuance of common stock for payment       of legal fees and various other services |   | $                               | 58,000 |   |                                      | $      | -- |   |   | $ | 566,514 |   |
|     Issuance of common stock for payment       of services of transfer agent            |   | $                               | 24,638 |   |                                      | $      | -- |   |   | $ | 79,235 |   |
|     Issuance of common stock for payment       of rental expense                        |   | $                               | --     |   |                                      | $      | -- |   |   | $ | 60,000 |   |
|     Issuance of common stock for payment       of management and consulting fees        |   | $                               | --     |   |                                      | $      | 1,920,000 |   |   | $ | 1,921,900 |   |
|     Issuance of common stock for       purchase of intellectual property                |   | $                               | --     |   |                                      | $      | -- |   |   | $ | 4,500 |   |
|     Issuance of common stock for      purchase of subsidiary                                 |   | $                               | --     |   |                                      | $      | -- |   |   | $ | 2,500 |   |
|     Issuance of common stock for payment      of management and consulting fees              |   | $                               | --     |   |                                      | $      | -- |   |   | $ | 300 |   |
|    Non-cash compensation expense                                                                                                |   | $                               | --     |   |                                      | $      | -- |   |   | $ | 6,000 |   |

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ANDAIN

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| Consolidated Balance Sheetas of December 31, 2011(Audited) |   |
|------------------------------------------------------------|--------|
|                                                       |   |
|                                                       |   | As PreviouslyReported |   |   | Prior Period Adjustments (1) |   |   | As Restated |   |
| Accumulated Deficit During the Development Stage           |   | $ | (3,836,712 | ) |   | $ | (377,689 | ) |   | $ | (4,214,401 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital Reserves                                           |   | $ | 6,300 |   |   | $ | 377,689 |   |   | $ | 383,989 |   |

| Consolidated Balance Sheetas of March 31, 2012(Unaudited) |   |
|-----------------------------------------------------------|--------|
|                                                      |   |
|                                                      |   | As PreviouslyReported |   |   | Prior Period Adjustments (2) |   |   | As Restated |   |
| Accumulated Deficit During the Development Stage          |   | $ | (3,924,428 | ) |   | $ | (171,411 | ) |   | $ | (4,095,839 | ) |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-controlling Interest                                  |   | $ | (189,145 | ) |   | $ | (13,989 | ) |   | $ | (203,134 | ) |

----

| Consolidated Statements of OperationsFor the Three Months Ended March 31, 2012(Unaudited) |   |
|-------------------------------------------------------------------------------------------|--------|
|                                                                                      |   |
|                                                                                      |   | As PreviouslyReported |   |   | Prior Period Adjustments (2) |   |   | As Restated |   |
| Extraordinary gain on  forgiveness of debt                                      |   | $ | (230,126 | ) |   | $ | 230,126 |   |   |   | -- |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                  |   | $ | 118,778 |   |   | $ | 185,400 |   |   | $ | 304,178 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to  non-controlling interest                              |   | $ | 31,062 |   |   | $ | 13,989 |   |   | $ | 45,051 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to  Andain, Inc. stockholders                             |   | $ | 87,716 |   |   | $ | 171,411 |   |   | $ | 259,127 |   |
|                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss per share (basic)  attributable to Andain, Inc.                        |   | $ | 0.00 |   |   | $ | (0.01 | ) |   | $ | (0.01 | ) |

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|                                                          |   | Nine Months Ended  |     |   | Nine Months Ended  |   |
|---------------------------------------------------------------|--------|--------------------|----------|--------|--------------------|--------|
|                                                          |   | September 30, 2012 |     |   | September 30, 2011 |   |
|                                                          |   | (Unaudited)        |     |   | (Unaudited)        |   |
|                                                          |   | $                  |     |   | $                  |   |
| Income statements:                                            |   |               |     |   |               |   |
|   Directors’ remuneration                     |   |               | 270,000  |   |               |   | 270,000 |   |
|                                                          |   |               |     |   |               |   |   |   |
| Balance sheets:                                               |   |               |     |   |               |   |   |   |
|   Loans receivable from related companies           |   |               | 175,689  |   |               |   | 69,456 |   |
|   Loans with related companies – other assets |   |               | 173,970  |   |               |   | 292,181 |   |
|   Loans – key management personnel            |   |               | (247,147 | )      |               |   | (74,652 | ) |
|   Loans owing to related companies                  |   |               | --       |   |               |   | (158,844 | ) |

|                               |   | Nine Months Ended  |    |   | Nine Months Ended  |   |
|------------------------------------|--------|--------------------|---------|--------|--------------------|--------|
|                               |   | September 30, 2012 |    |   | September 30, 2011 |   |
|                               |   | (Unaudited)        |    |   | (Unaudited)        |   |
|                               |   | $                  |    |   | $                  |   |
|                               |   |               |    |   |               |   |
| Forgiveness of debt-share holders  |   |               | 504,000 |   |               |   | -- |   |
|                               |   |               |    |   |               |   |   |   |
| Forgiveness of debt-trade payables |   |               | 106,396 |   |               |   | -- |   |
|                               |   |               |    |   |               |   |   |   |
| Total                              |   |               | 610,396 |   |               |   | -- |   |

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ITEM 

| · | Miniature insulin pump |
|--------|------------------------|

| · | Targeted drug delivery nano-particles |
|--------|---------------------------------------|

| · | Stem cell therapy |
|--------|-------------------|

| · | Ultasonic catheter for brain cancer therapy |
|--------|---------------------------------------------|

| · | Peptide booster for anti-wrinkle cosmeceuticals |
|--------|-------------------------------------------------|

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| · | curtail operations significantly; |
|--------|-----------------------------------|

| · | sell significant assets; |
|--------|--------------------------|

| · | seek arrangements with strategic partners or other parties that may require the Company to relinquish significant rights to products, technologies or markets; or |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | explore other strategic alternatives including a merger or sale of the Company. |
|--------|---------------------------------------------------------------------------------|

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ITEM 

ITEM 

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ITEM 

ITEM 

ITEM 

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ITEM 

ITEM 

ITEM 

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ITEM 

SIGNATURE

|                     | Andain, Inc.                    |
|--------------------------|---------------------------------|
|                     |                            |
| Dated: November 19, 2012 | By: /s/ Sam Shlomo Elimelech    |
|                     | Sam Shlomo Elimelech, President |
|                     | (principal executive officer)   |

----

| Number | Description                                                                                                                                                                                                                      |   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                             |   |
| 3.1    | Articles of Incorporation, dated July 14, 2004 (incorporated by reference to Exhibit 3.1 of the Form 10-SB filed on March 24, 2005).                                                                                             |   |
|   |                                                                                                                                                                                                                             |   |
| 3.2    | Bylaws, dated August 1, 2004 (incorporated by reference to Exhibit 3.2 of the Form 10-SB filed on March 24, 2005).                                                                                                               |   |
|   |                                                                                                                                                                                                                             |   |
| 4.1    | Option issued to 1568934 Ontario Limited by the Company, dated January 14, 2011 (incorporated by reference to Exhibit 10.6 of the Form 8-K filed on March 29, 2011).                                                             |   |
|   |                                                                                                                                                                                                                             |   |
| 4.2    | Employee Stock Option Plan, dated January 15, 2011 (incorporated by reference to Exhibit 4.2 of the Form 10-Q filed on November 21, 2011).                                                                                       |   |
|   |                                                                                                                                                                                                                             |   |
| 4.3    | Stock Option Grant to Sam Elimelech, dated January 20, 2011 (incorporated by reference to Exhibit 4.3 of the Form 10-Q filed on November 21, 2011).                                                                              |   |
|   |                                                                                                                                                                                                                             |   |
| 4.4    | Stock Option Grant to Gai Mar-Chaim, dated January 20, 2011 (incorporated by reference to Exhibit 4.4 of the Form 10-Q filed on November 21, 2011).                                                                              |   |
|   |                                                                                                                                                                                                                             |   |
| 4.5    | 2011 Stock and Option Plan, dated July 26, 2011 (incorporated by reference to Exhibit 4 of the Form S-8 filed on July 26, 2011).                                                                                                 |   |
|   |                                                                                                                                                                                                                             |   |
| 4.6    | 2012 Stock and Option Plan, dated August 5, 2011 (incorporated by reference to Exhibit 4 of the Form S-8 filed on August 14, 2012).                                                                                              |   |
|   |                                                                                                                                                                                                                             |   |
| 10.1   | Affiliation Agreement between the Impact Active Team Ltd. and P.O.C. High-Tech (1992) Ltd. Corporation, dated June 23, 2004 (incorporated by reference to Exhibit 10.8 of the Form SB-2 filed on February 13, 2007).             |   |
|   |                                                                                                                                                                                                                             |   |
| 10.2   | Consulting Agreement between the Company and Dr. Leonid Lurya, dated May 16, 2006 (incorporated by reference to Exhibit 10.2 of the Form 10-K filed on December 30, 2010).                                                       |   |
|   |                                                                                                                                                                                                                             |   |
| 10.3   | Share Purchase Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (not including Schedule 1, Disclosure Schedule) (incorporated by reference to Exhibit 10.1 of the Form 8-K filed on July 5, 2006). |   |
|   |                                                                                                                                                                                                                             |   |
| 10.4   | Technology Purchase Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (incorporated by reference to Exhibit 10.2 of the Form 8-K filed on July 5, 2006).                                            |   |
|   |                                                                                                                                                                                                                             |   |
| 10.5   | Finder’s Fee Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (incorporated by reference to Exhibit 10.5 of the Form 8-K filed on July 5, 2006).                                             |   |

----

| 10.6   | Consulting Agreement between the Company and Pangea Investments GmbH, dated July 3, 2006 (incorporated by reference to Exhibit 10.3 of the Form 8-K filed on July 5, 2006).                                  |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                         |   |
| 10.7   | Business Development Services Agreement between the Company and Pangea Investments GmbH, dated July 3, 2006 (incorporated by reference to Exhibit 10.4 of the Form 8-K filed on July 5, 2006).               |   |
|   |                                                                                                                                                                                                         |   |
| 10.8   | Employment Agreement between the Company and Sam Elimelech, dated July 3, 2006 (incorporated by reference to Exhibit 10.6 of the Form 8-K filed on July 5, 2006).                                            |   |
|   |                                                                                                                                                                                                         |   |
| 10.9   | Employment Agreement between the Company and Gai Mar-Chaim, dated July 3, 2006 (incorporated by reference to Exhibit 10.7 of the Form 8-K filed on July 5, 2006).                                            |   |
|   |                                                                                                                                                                                                         |   |
| 10.10  | Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated July 19, 2006 (incorporated by reference to Exhibit 10.11 of the Form 10-K/A filed on February 7, 2011).        |   |
|   |                                                                                                                                                                                                         |   |
| 10.11  | Consulting Agreement between the Company and Meizam - Advanced Enterprise Center Arad Ltd., dated October 25, 2006 (incorporated by reference to Exhibit 10.10 of the Form 10-K filed on December 30, 2010). |   |
|   |                                                                                                                                                                                                         |   |
| 10.12  | Employment Agreement between the Company and Sam Elimelech, dated January 1, 2011 (incorporated by reference to Exhibit 10.1 of the Form 8-K filed on March 29, 2011).                                       |   |
|   |                                                                                                                                                                                                         |   |
| 10.13  | Employment Agreement between the Company and Gai Mar-Chaim, dated January 1, 2011 (incorporated by reference to Exhibit 10.2 of the Form 8-K filed on March 29, 2011).                                       |   |
|   |                                                                                                                                                                                                         |   |
| 10.14  | Regulation S Stock Purchase Agreement between the Company and Sam Elimelech, dated January 5, 2011 (incorporated by reference to Exhibit 10.3 of the Form 8-K filed on March 29, 2011).                      |   |
|   |                                                                                                                                                                                                         |   |
| 10.15  | Regulation S Stock Purchase Agreement between the Company and Gai Mar-Chaim, dated January 5, 2011 (incorporated by reference to Exhibit 10.4 of the Form 8-K filed on March 29, 2011).                      |   |
|   |                                                                                                                                                                                                         |   |
| 10.16  | Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated January 14, 2011 (incorporated by reference to Exhibit 10.5 of the Form 8-K filed on March 29, 2011).           |   |

----

| 10.17  | Stock Purchase Agreement between the Company and Meizam Arad Investments Ltd., dated January 31, 2011 (incorporated by reference to Exhibit 10.7 of the Form 8-K filed on March 29, 2011).                                                                                                                                     |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.18  | Stock Purchase Agreement between Meizam – Advanced Enterprise Center Arad Ltd and Meizam Arad Investments Ltd., dated January 31, 2011 (incorporated by reference to Exhibit 10.8 of the Form 8-K filed on March 29, 2011).                                                                                              |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.19  | Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated May 24, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on July 19, 2011) (excluding Schedules 2.4, 2.7, and 2.10).                                                                                           |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.20  | Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated July 29, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on August 16, 2011) (excluding Schedules 2.4, 2.7, and 2.10).                                                                                        |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.21  | Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated December 26, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on February 6, 2012) (including Schedule 1.4 (Option to Purchase Shares of Common Stock) and Schedule 2.4 (Litigation); excluding Schedule 2.7). |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.22  | Corporate Office Services Agreement between the Company and 1568934 Ontario Limited, dated January 5, 2012 (incorporated by reference to Exhibit 10.22 of the Form 10-Q filed on August 29, 2012).                                                                                                                             |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.23  | Regulation S Stock Purchase Agreement between the Company and Eran Elimelech, dated July 29, 2012 (incorporated by reference to Exhibit 10.23 of the Form 10-Q filed on August 29, 2012).                                                                                                                                      |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.24  | Regulation S Stock Purchase Agreement between the Company and Sam Elimelech, dated July 29, 2012 (filed herewith).                                                                                                                                                                                                             |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 10.25  | Regulation S Stock Purchase Agreement between the Company and Gai Mar-Chaim, dated July 29, 2012 (filed herewith).                                                                                                                                                                                                             |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 16.1   | Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on January 5, 2006).                                                                                                                                                                                                  |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 16.2   | Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on November 5, 2010).                                                                                                                                                                                                 |   |
|   |                                                                                                                                                                                                                                                                                                                           |   |
| 16.3   | Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on July 24, 2012).                                                                                                                                                                                                    |   |

----

| 21     | Subsidiaries of the Company (incorporated by reference to Exhibit 21 of the Form 10-K filed on April 16, 2012).                      |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                 |   |
| 23     | Consent of Dov Weinstein & Co. C.P.A. (Isr) (incorporated by reference to Exhibit 23 of the Form 10-Q filed on August 29, 2012). |   |
|   |                                                                                                                                 |   |
| 31.1   | Rule 13a-14(a)/15d-14(a) Certification of Sam Shlomo Elimelech (filed herewith).                                                     |   |
|   |                                                                                                                                 |   |
| 31.2   | Rule 13a-14(a)/15d-14(a) Certification of Gai Mar-Chaim (filed herewith).                                                            |   |
|   |                                                                                                                                 |   |
| 32     | Section 1350 Certification of Sam Shlomo Elimelech and Gai Mar-Chaim (filed herewith).                                               |   |

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