**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


Washington,
      DC 20549




**FORM
      10-KSB**




**ANNUAL
      REPORT**




**PURSUANT
      TO SECTION 13 OR 15(d) OF THE SECURITIES AND**


**EXCHANGE
      ACT OF 1934**




**x**  **ANNUAL
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
      AND**


**EXCHANGE
      ACT OF 1934**





For
      the
      fiscal year ended December 31, 2007





OR





**o**  **TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES AND**


**EXCHANGE
      ACT OF 1934**





For
      the
      transition period from ________________ to ________________





**Commission
      File Number 000-52270**


**ZANE
      ACQUISITION I, INC.**


(Exact
      name of registrant as specified in its charter)




**DELAWARE**
            **02-0782559**(State of other jurisdiction of incorporation or
                organization)
            (IRS Employer Identification Number)




**2121
      Avenue of the Stars, Suite 2550**


**Los
      Angeles, CA 90067**


(Address
      of principal executive offices)




**(310)
      601-2500**


(Registrant's
      telephone number, including area code)


Securities
          registered pursuant to Section 12(b) of the Exchange Act: **None**
 
 Securities
          registered pursuant to Section 12(g) of the Exchange Act:
 
 Common
          Stock, Par Value $0.0001 Per Share
 (Title
          of
          Class)
  Indicate
          by check mark if the registrant is not required to file reports pursuant
          to
          Section 13 or Section 15(d) of the Exchange Act. o
 
 Indicate
          by check mark whether the registrant (1) has filed all reports required
          to be
          filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
          the
          preceding 12 months (or for such shorter period that the registrant was
          required
          to file such reports), and (2) has been subject to such filing requirements
          for
          the past 90 days. Yes x No o
 
 Indicate
          by check mark if disclosure of delinquent filers pursuant to Item 405 of
          Regulation S-B is not contained herein, and will not 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
 
 Indicate
          by check mark whether the registrant is a shell company (as defined in
          Rule
          12b-2 of the Exchange Act). Yes x No o
 
 The
          aggregate market value of the voting and non-voting common equity held
          by
          non-affiliates of the registrant, computed by reference to the closing
          sales
          price for the registrant’s common equity, as reported on the OTCBB, was $0 as of
          March 24, 2008.
  As
          of
          March 26, 2008, the registrant had 3,000,000 shares of common stock outstanding.
 
 DOCUMENTS
          INCORPORATED BY REFERENCE
 
 Transitional
          Small Business Disclosure Format (check one):  Yes o No x








ZANE
      ACQUISITION I, INC.


ANNUAL
      REPORT ON FORM 10-KSB


FOR
      THE
      YEAR ENDED DECEMBER 31, 2007





**TABLE
      OF CONTENTS**





**PART
                I**ITEM
                1.
            
            DESCRIPTION
                OF BUSINESS
            
            1ITEM
                2.
            
            DESCRIPTION
                OF PROPERTY
            
            2ITEM
                3.
            
            LEGAL
                PROCEEDINGS
            
            2ITEM
                4.
            
            SUBMISSION
                OF MATTERS TO A VOTE OF SECURITY HOLDERS
            
            2**PART
                II**ITEM
                5.
            
            MARKET
                FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS
                ISSUER
                PURCHASES OF EQUITY SECURITIES
            
            2ITEM
                6.
            
            MANAGEMENT’S
                DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
            
            3ITEM
                7.
            
            FINANCIAL
                STATEMENTS
            
            6ITEM
                8.
            
            CHANGES
                IN AND DISAGREEMENT WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
                DISCLOSURE
            
            7ITEM
                8A.
            
            CONTROLS
                AND PROCEDURES
            
            7ITEM
                8B.
            
            OTHER
                INFORMATION
            
            8**PART
                III**ITEM
                9.
            
            DIRECTORS,
                EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE;
                COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT
            
            8ITEM
                10.
            
            EXECUTIVE
                COMPENSATION
            
            10ITEM
                11.
            
            SECURITY
                OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
                STOCKHOLDER MATTERS
            
            10ITEM
                12.
            
            CERTAIN
                RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
                INDEPENDENCE
            
            11ITEM
                13.
            
            EXHIBITS
            
            13ITEM
                14.
            
            PRINCIPAL
                ACCOUNTANT FEES AND SERVICES
            
            13SIGNATURES
            
            15




i





**PART
      I**





**ITEM
      1. DESCRIPTION OF BUSINESS**




**History
      and Organization**




Zane
      Acquisition I, Inc. (“we,” “us,” “our,” or the “Company”) was
      incorporated in the State of Delaware on July 21, 2006, with
      authorized common stock ("Common Stock") of 75,000,000 shares at $0.0001 par
      value per share. The Company has no operations and at December 31, 2007 the
      Company was inactive.




On
        April
        2, 2007, the Company redeemed 2,850,000 shares (the “Shares) of its Common Stock
        from its stockholders Steven Bettinger, Ivan Spinner and Jared Shaw (the
        “Initial Stockholders”), each a former director of the Company, for an aggregate
        purchase price of $37,500, pursuant to that certain Redemption Agreement
        (the
“Redemption Agreement”).





On April
      2, 2007, Trinad Capital Master Fund, Ltd., (“TCMF”) an exempted Cayman
      Island Corporation, with an address at 2121 Avenue of the Stars, Suite 2550,
      Los
      Angeles, California 90067, entered into a Common Stock Purchase
      Agreement (the “Agreement”) with the Company and the Initial Stockholders.
      Pursuant to the terms of the Agreement, the Initial Stockholders sold 2,850,000
      shares (the “Shares”) of the Company’s Common Stock representing approximately
      95% of the issued and outstanding Common Stock as of April 2, 2007 (the
“Closing”), to TCMF. In consideration of the purchase of the Shares, TCMF paid
      at Closing the total sum of thirty seven thousand five hundred dollars
      ($37,500), pursuant to and in accordance with the terms of the Agreement. The
      source of such capital was TCMF’s working capital. The sale of the shares to
      TCMF, an accredited investor, was made pursuant to the exemptions from
      registration afforded by Sections 4(1) of the Securities Act of 1933, as
      amended.




The
      executive office of the Company is located at 2121 Avenue of the Stars, Suite
      2550, Los Angeles, California 90067. Its telephone number is (310) 601-2500.
      Robert S. Ellin is the Company's President and Chief Executive Officer, Jay
      A.
      Wolf is the Secretary and Charles Bentz is the Company’s Chief Financial
      Officer. Robert S. Ellin, Barry I. Regenstein and Jay Wolf are the Company’s
      Directors.





**TCMF
      and Management’s Plan of Operation**





TCMF,
      a
      hedge fund dedicated to investing in micro-cap companies, is seeking to raise
      additional capital with a view to making the Company an attractive vehicle
      with
      which to acquire a business. TCMF intends to then seek a suitable acquisition
      candidate for the Company (a “Business Combination”). To date, no such Business
      Combination has been identified and the Company is therefore subject to a number
      of risks, including: any Business Combination consummated by the Company may
      turn out to be unsuccessful; the Company’s investors will not know what
      operating business, if any, will be acquired, including the particular industry
      in which the business operates and whether financing that could have a dilutive
      effect on the Company’s present stockholders will be required in connection
      therewith; the historical operations of a specific business opportunity may
      not
      necessarily be indicative of the potential for the future; the Company may
      acquire a company in the early stages of development, causing it to incur
      further risks; the Company may be dependent upon the management of an acquired
      business which has not proven its abilities or effectiveness; the Company will
      be controlled by a small number of stockholders and such control could prevent
      the taking of certain actions that may be beneficial to other stockholders;
      and
      the Company’s common stock will likely be thinly traded, and the public market
      may provide little or no liquidity for holders of the Company’s common
      stock.





**Company
      is a Blank Check Company**





At
      present, the Company has no sources of revenue and has no specific business
      plan
      or purpose. The Company’s business plan is to seek a Business Combination. As a
      result, the Company is a “blank check” or “shell” company. Many states have
      enacted statutes, rules and regulations limiting the sale of securities of
      shell
      companies in their respective jurisdictions. Management does not intend to
      undertake any efforts to cause a market to develop in the Company's securities
      or undertake any offering of the Company's securities, either debt or equity,
      until such time as the Company has successfully implemented its business plan
      and closed on a suitable Business Combination.




1




The
      Company’s Common Stock is a “penny stock,” as defined in Rule 3a51-1 under the
      Exchange Act. The penny stock rules require a broker-dealer, prior to a
      transaction in penny stock not otherwise exempt from the rules, to deliver
      a
      standardized risk disclosure document that provides information about penny
      stocks and the nature and level of risks in the penny stock market. The
      broker-dealer also must provide the customer with current bid and offer
      quotations for the penny stock, the compensation of the broker-dealer and its
      sales person in the transaction, and monthly account statements showing the
      market value of each penny stock held in the customer's account. In addition,
      the penny stock rules require that the broker-dealer, not otherwise exempt
      from
      such rules, must make a special written determination that the penny stock
      is
      suitable for the purchaser and receive the purchaser's written agreement to
      the
      transaction. These disclosure rules have the effect of reducing the level of
      trading activity in the secondary market for a stock that becomes subject to
      the
      penny stock rules. So long as the Common Stock of the Company is subject to
      the penny stock rules, it may be more difficult to sell the Company’s Common
      Stock.





**Competition**




Our
      primary goal is the acquisition of a target company or business seeking the
      perceived advantages of being a publicly held corporation. The Company faces
      vast competition from other shell companies with the same objectives. The
      Company is in a highly competitive market for a small number of business
      opportunities which could reduce the likelihood of consummating a successful
      business combination. A large number of established and well-financed entities,
      including small public companies and venture capital firms, are active in
      mergers and acquisitions of companies that may be desirable target candidates
      for us. Nearly all these entities have significantly greater financial
      resources, technical expertise and managerial capabilities than we do;
      consequently, we will be at a competitive disadvantage in identifying possible
      business opportunities and successfully completing a business combination.
      These
      competitive factors may reduce the likelihood of our identifying and
      consummating a successful business combination.




**Employees**




Other
      than Robert S. Ellin, our President and Chief Executive Officer, Jay A. Wolf,
      our Secretary, and Charles Bentz, our Chief Financial Officer, the Company
      currently has no other employees and has no compensated
      directors.




**ITEM
      2. DESCRIPTION OF PROPERTY**





Currently,
      we are utilizing the office space of TCMF, located at 2121 Avenue of the stars,
      Suite 2550, Los Angeles, California 90067, at no cost to us until an
      acquisition is consummated or a business is established. The amount of office
      space currently utilized by us is insignificant.




**ITEM
      3. LEGAL PROCEEDINGS**




None.




**ITEM
      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**




None.




**PART
      II**




**ITEM
      5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS
      ISSUER PURCHASES OF EQUITY SECURITIES**





**Common
      Stock**




Our
      authorized capital stock consists of 85,000,000 shares of capital stock, of
      which 75,000,000 are shares of Common Stock, $0.0001 par value per share.
      Our Common Stock trades on the Over-the -Counter Bulletin Board. There has
      been
      no trading activity of our Common Stock since our inception. The holders of
      our
      Common Stock:




*
            have
                equal ratable rights to dividends from funds legally available if
                and when
                declared by our board of directors;*
            are
                entitled to share ratably in all of our assets available for distribution
                to holders of Common Stock upon liquidation, dissolution or winding
                up of
                our affairs;*
            do
                not have preemptive, subscription or conversion rights and there
                are no
                redemption or sinking fund provisions or rights; and*
            are
                entitled to one non-cumulative vote per share on all matters on which
                stockholders may vote.




All
      shares of Common Stock now outstanding are fully paid for and non-assessable.
      We
      refer you to our Certificate of Incorporation, and Bylaws refer to Exhibits
      3.1
      and 3.2 and Delaware General Corporation Law for a more complete description
      of
      the rights and liabilities of holders of our securities.




**Preferred
      Stock**




Our
      Certificate of Incorporation authorizes the issuance of up to 10,000,000 shares
      of blank check preferred stock, $0.0001 par value per share, or the ("Preferred
      Stock"). There are currently no issued or outstanding shares of Preferred
      Stock.




2


**Non-cumulative
      voting**




Holders
      of shares of our Common Stock do not have cumulative voting rights, which means
      that the holders of more than 50% of the outstanding shares, voting for the
      election of directors, can elect all of the directors to be elected, if they
      so
      choose, and, in that event, the holders of the remaining shares will not be
      able
      to elect any of our directors.




**Cash
      dividends**




Since
      our
      inception, we have not declared or paid any cash dividends to stockholders.
      The
      declaration of any future cash dividend will be at the discretion of our board
      of directors and will depend upon our earnings, if any, our capital requirements
      and financial position, our general economic conditions, and other pertinent
      conditions. It is our present intention not to pay any cash dividends in the
      foreseeable future, but rather to reinvest earnings, if any, in our business
      operations.




**Holders**




As
      of
      March 26, 2008, there were four holders of record of our common
      stock.





**ITEM
      6. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
      OPERATION**





In
      this
      section, references to "we," "us," "our," and "ours" refer to Zane Acquisition
      I, Inc.





The
      following discussion should be read in conjunction with, and is qualified in
      its
      entirety by, the Financial Statements and the Notes thereto included in this
      report. This discussion contains certain forward-looking statements that involve
      substantial risks and uncertainties. When used in this report, the words
      "anticipate," "believe," "estimate," "expect” and similar expressions as they
      relate to our management or us are intended to identify such forward-looking
      statements. Our actual results, performance or achievements could differ
      materially from those expressed in, or implied by, these forward-looking
      statements. Historical operating results are not necessarily indicative of
      the
      trends in operating results for any future period.


This
        Form
        10-KSB for the year ended December 31, 2007 includes a number of forward-looking
        statements that reflect our current views with respect to future events and
        financial performance. Forward-looking statements are often identified by
        words
        like: “believe,” “expect,” “estimate,” “anticipate,” “intend,” “project” and
        similar expressions, or words which, by their nature, refer to future events.
        You should not place undue certainty on these forward-looking statements,
        which
        apply only as of the date of this report. These forward-looking statements
        are
        subject to certain risks and uncertainties that could cause actual results
        to
        differ materially from historical results or our predictions.


**MANAGEMENT’S
        PLAN OF OPERATION**


We are
      inactive as of the date of this report. Our objective is to identify an
      operating company to purchase or merge with and to raise capital to make the
      Company a more attractive merger candidate. No assurance can be given that
      we
      will be successful in meeting our objective.




Most
      of
      the activity from July 21, 2006 (date of inception) to December 31, 2007
      relates to the Company's maintenance of its public filing requirements described
      below.




Liquidity
      and Capital Resources




On
        August
        20, 2007, the Company executed a loan agreement (the "Loan Agreement") with
        TCMF, whereby TCMF agreed to loan the Company up to a principal amount of
        $100,000 (the “Loan”), upon the Company's consummation of a Next Financing (as
        defined below). TCMF shall make advances to the Company in such amounts as
        the
        Company shall request from time to time. The Loan bears interest at the rate
        of
        10% per annum. The entire outstanding principal amount of the Loan and any
        accrued interest thereon shall be due and payable by the Company upon, and
        not
        prior to, the consummation of a sale of securities (other than a sale of
        shares
        of the Company’s common stock, $0.0001 par value per share, to officers,
        directors or employees of, or consultants to, the Company in connection with
        their provision of services to the registrant) to a third party or parties
        with
        proceeds to the Company of not less than $200,000 (a “Next Financing”). The
        business purpose of the Loan is to provide working capital to the
        Company.


As
      of
      December 31, 2007, we have accrued expenses of $11,282 and no cash.




At
      present, the Company has no sources of revenue and has no specific business
      plan
      or purpose. The Company’s business plan is to seek a Business Combination. As a
      result, the Company is a “blank check” or “shell” company. Many states have
      enacted statutes, rules and regulations limiting the sale of securities of
      shell
      companies in their respective jurisdictions. Management does not intend to
      undertake any efforts to cause a market to develop in the Company's securities
      until such time as the Company has successfully implemented its business plan
      and closed on a suitable Business Combination.





The
      Company’s Common Stock is a “penny stock,” as defined in Rule 3a51-1 under the
      Exchange Act. The penny stock rules require a broker-dealer, prior to a
      transaction in penny stock not otherwise exempt from the rules, to deliver
      a
      standardized risk disclosure document that provides information about penny
      stocks and the nature and level of risks in the penny stock market. The
      broker-dealer also must provide the customer with current bid and offer
      quotations for the penny stock, the compensation of the broker-dealer and its
      sales person in the transaction, and monthly account statements showing the
      market value of each penny stock held in the customer's account. In addition,
      the penny stock rules require that the broker-dealer, not otherwise exempt
      from
      such rules, must make a special written determination that the penny stock
      is
      suitable for the purchaser and receive the purchaser's written agreement to
      the
      transaction. These disclosure rules have the effect of reducing the level of
      trading activity in the secondary market for a stock that becomes subject to
      the
      penny stock rules. So long as the Common Stock of the Company is subject to
      the
      penny stock rules, it may be more difficult to sell the Company’s Common
      Stock.




3





We
      may
      enter into a definitive agreement with a wide variety of private businesses
      without limitation as to their industry or revenues. It is not possible at
      this
      time to predict when, if ever, we will enter into a business combination with
      any such private company or the industry or the operating history, revenues,
      future prospects or other characteristics of any such company. TCMF intends
      to raise capital to make us a more attractive acquisition vehicle and then
      seek
      a suitable merger candidate. TCMF has not identified anyone for acquisition at
      this time.




**LOAN
      PAYABLE**




On
      August
      20, 2007, the Company executed a loan agreement (the "Loan Agreement") with
      TCMF, whereby TCMF agreed to loan the Company up to a principal amount of
      $100,000 (the “Loan”), upon the Company's consummation of a Next Financing (as
      defined below). TCMF shall make advances to the Company in such amounts as
      the
      Company shall request from time to time. The Loan bears interest at the rate
      of
      10% per annum. The entire outstanding principal amount of the Loan and any
      accrued interest thereon shall be due and payable by the Company upon, and
      not
      prior to, the consummation of a sale of securities (other than a sale of shares
      of the Company’s common stock, $0.0001 par value per share, to officers,
      directors or employees of, or consultants to, the Company in connection with
      their provision of services to the registrant) to a third party or parties
      with
      proceeds to the Company of not less than $200,000 (a “Next Financing”). The
      business purpose of the Loan is to provide working capital to the
      Company.





**MANAGEMENT
      AGREEMENT**





On
      August
      20, 2007, the Company entered into a Management Agreement (the “Management
      Agreement”) with Trinad Management, LLC (“Trinad”), an affiliate of TCMF. The
      Management Agreement has a term of five years and Trinad will provide
      certain management services, including, without limitation, the sourcing, and
      structuring of a potential business combination transaction involving the
      Company. The Company has agreed to pay Trinad a management fee of $90,000 per
      quarter, plus reimbursement of all expenses reasonably incurred by Trinad in
      connection with the provision of management services. Management fees for the
      year ended December 31, 2007 have been voluntarily waived by Trinad. Either
      party may terminate with prior notice. However, in the event that the Company
      terminates the Management Agreement, it shall pay to Trinad a termination fee
      of
      $1,000,000.




**CRITICAL
      ACCOUNTING POLICIES**




**Estimates**  ****





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




4


**Income
      Taxes**




The
      Company provides for deferred income taxes using the liability method. Deferred
      tax assets and liabilities are recognized for the future tax consequences
      attributable to differences between the financial statement carrying amounts
      of
      existing assets and liabilities and their respective tax bases and the tax
      effect of net operating loss carry-forwards. A valuation allowance has been
      provided as it is more likely than not that the deferred tax assets will not
      be
      realized.





**RECENT
      ACCOUNTING PRONOUNCEMENTS**





In
        September 2006, the FASB issued SFAS No. 157; "Fair Value Measurements",
        that
        defines fair value, establishes a framework for measuring fair value in
        generally accepted accounting principles ("GAAP"), and expands disclosures
        about
        fair value measurements. This Statement applies under other accounting
        pronouncements that require or permit fair value measurements. Prior to this
        Statement, there were different definitions of fair vale and limited guidance
        for applying those definitions in GAAP. Moreover, that guidance was dispersed
        among many accounting pronouncements that require fair value measurements.
        Differences in that guidance created inconsistencies that added to the
        complexity in applying GAAP. The changes to current practice resulting from
        the
        application of this statement relate to the definition of fair value, the
        methods used to measure fair value, and the expanded disclosures about fair
        value measurements. Statement 157 is effective for financial statements issued
        for fiscal years beginning after November 15, 2007, and interim periods within
        those fiscal years. The Company has not determined the effect, if any, that
        may
        result from the adoption of SFAS 157 on its financial statements.
 
 In
        February 2007, the FASB issued SFAS
        No.
        159 "The Fair Value Option for Financial Assets and Financial Liabilities".
        SFAS
        No. 159 permits entities to choose, at specified election dates, to measure
        eligible items at fair value (the "fair value option"). A business entity
        shall
        report unrealized gains and losses on items for which the fair value option
        has
        been elected in earnings at each subsequent reporting date. The objective
        is to
        improve financial reporting by providing entities with the opportunity to
        mitigate volatility in reported earnings caused by measuring related assets
        and
        liabilities differently without having to apply complex hedge accounting
        provisions. SFAS No. 159 is effective as of the beginning of an entity's
        first
        fiscal year that begins after November 15, 2007. Early adoption is permitted
        as
        of the beginning of a fiscal year that begins on or before November 15, 2007,
        provided the entity also elects to apply the provisions of SFAS No. 157,
        "Fair
        Value Measurements".The
        Company has not determined the effect, if any, that may result from the adoption
        of SFAS No. 159 on its financial statements
 
 In
        December 2007, the FASB issued SFAS No. 141(R), "Business Combinations -
        Revised" that improves the relevance, representational faithfulness, and
        comparability of the information that a reporting entity provides in its
        financial reports about a business combination and its effects. To accomplish
        that, this statement establishes principles and requirements how the acquirer
        recognizes and measures in its financial statements the identifiable assets
        acquired, the liabilities assumed, and any noncontrolling interest in the
        acquiree, recognizes and measures the goodwill acquired in the business
        combination or a gain from a bargain purchase, and determines what information
        to disclose to enable users of the financial statements to evaluate the nature
        and financial effects of the business combination. The changes to current
        practice resulting from the application of SFAS No. 141(R) are effective
        for
        financial statements issued for fiscal years beginning after December 15,
        2008.
        The adoption of SFAS No. 141(R) before December 15, 2008 is prohibited. The
        Company has not determined the effect, if any, that may result from the adoption
        of SFAS No. 141(R) on its financial statements.
 
 In
        December 2007, the FASB issued SFAS No. 160, "Noncontrolling Interests in
        Consolidated Financial Statements – an amendment of ARB No. 51". The
        objective of this Statement is to improve the relevance, comparability, and
        transparency of the financial information that a reporting entity provides
        in
        its consolidated financial statements by establishing accounting and reporting
        standards that require the following changes. The ownership interests in
        subsidiaries held by parties other than the parent be clearly identified,
        labeled, and presented in the consolidated statement of financial position
        within equity, but separate from the parent’s equity. The amount of consolidated
        net income attributable to the parent and to the noncontrolling interest
        must be
        clearly identified and presented on the face of the consolidated statement
        of
        income. When a subsidiary is deconsolidated, any retained noncontrolling
        equity
        investment in the former subsidiary is initially measured at fair value.
        The
        gain or loss on the deconsolidation of the subsidiary is measured using the
        fair
        value of any noncontrolling equity investment rather than the carrying amount
        of
        that retained investment and entities provide sufficient disclosures that
        clearly identify and distinguish between the interests of the parent and
        the
        interests of the noncontrolling owners. The changes to current practice
        resulting from the application of SFAS No. 160 is effective for financial
        statements issued for fiscal years beginning after December 15, 2008, and
        interim periods within those fiscal years. The adoption of SFAS No. 160 before
        December 15, 2008 is prohibited. The Company has not determined the effect,
        if
        any, that may result from the adoption of SFAS No. 160 on its financial
        statements.
 
 Management
        does not believe that any other recently issued, but not yet effective
        accounting pronouncements, if adopted, would have a material effect on the
        accompanying financial statements.


**QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**





We
      currently have no floating rate indebtedness, hold no derivative instruments,
      and do not earn foreign-sourced income. Accordingly, changes in interest rates
      or currency exchange rates do not generally have a direct effect on our
      financial position. Changes in interest rates may affect the amount of interest
      we earn on available cash balances as well as the amount of interest we pay
      on
      borrowings. To the extent that changes in interest rates and currency exchange
      rates affect general economic conditions, we may also be affected by such
      changes.


**Off-Balance
        Sheet Arrangements**
  We
        do not
        have any relationships with unconsolidated entities or financial partners,
        such
        as entities often referred to as structured finance or special purpose entities,
        which would have been established for the purpose of facilitating off-balance
        sheet arrangements or other contractually narrow or limited purposes. In
        addition, we do not have any undisclosed borrowings or debt, and we have
        not
        entered into any synthetic leases. We are, therefore, not materially exposed
        to
        any financing, liquidity, market or credit risk that could arise if we had
        engaged in such relationships.




5


**Item
        7. Financial Statements.**
 
 **ZANE
        ACQUISITION I, INC.**
  **-
        INDEX -**
  PageReport
                  Of Independent Registered Public Accounting Firm
              F-1Balance
                  Sheet as of December 31, 2007
              F-2Statement
                  of Operations - year ended December 31, 2007 and period July 21,
                  2006
                  (Inception) through December 31, 2006
              F-3Statement
                  of Changes in Stockholders’ Equity (Deficit) - year ended December 31,
                  2007 and period July 21, 2006 (Inception) through December 31,
                  2006
              F-4Statement
                  of Cash Flows - year ended December 31, 2007 and period July 21,
                  2006
                  (Inception) through December 31, 2006
              F-5Notes
                  to Financial Statements
              F-6
  6


**R** **EPORT
      OF** **I** **NDEPENDENT** **R** **EGISTERED** **P** **UBLIC** **A** **CCOUNTING** **F** **IRM**




To
      the
      Board of Directors


Zane
      Acquisition I, Inc.





We
      have
      audited the accompanying balance sheet of Zane Acquisition I, Inc. as of
      December 31, 2007 and the related statements of operations, changes in
      stockholders’ equity (deficit) and cash flows for the year ended December 31,
      2007 and for the period July 21, 2006 (inception) through December 31, 2006. The
      Company’s management is responsible for these financial statements. Our
      responsibility is to express an opinion on these financial statements based
      on
      our audit.





We
      conducted our audits in accordance with 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. The
      Company is not required to have, nor were we engaged to perform, an audit of
      its
      internal control over financial reporting. Our audits included consideration
      of
      internal control over financial reporting as a basis for designing auditing
      procedures that are appropriate in the circumstances, but not for the purpose
      of
      expressing an opinion on the effectiveness of the Company’s internal control
      over financial reporting. Accordingly, we express no such opinion. An audit
      also
      includes examining, on a test basis, evidence supporting the amounts and
      disclosures in the financial statements, 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 Zane Acquisition I, Inc. as of
      December 31, 2007 and the results of its operations and its cash flows for
      the
      year ended December 31, 2007 and for the period July 21, 2006 (inception)
      through December 31, 2006, in conformity with accounting principles generally
      accepted in the United States of America.





The
      accompanying financial statements have been prepared assuming that the Company
      will continue as a going concern. As discussed in Note 3 to the financial
      statements, the Company has negative working capital and has incurred net losses
      from inception. This raises substantial doubt about its ability to continue
      as a
      going concern. Management’s plans in regards to these matters are also described
      in Note 3. The accompanying financial statements do not include any adjustments
      that might result from the outcome of this uncertainty.




/s/
                Raich Ende Malter & Co. LLP


**RAICH
      ENDE MALTER & CO. LLP**


New
      York,
      New York


March
      27,
      2008


F-1


**Zane
        Acquisition I, Inc.**
 **Balance
        Sheet**
 **December
        31, 2007**
 
 **ASSETS**Assets
              
              $
              -**LIABILITIES
                  AND STOCKHOLDERS' (DEFICIT)**Current
                  LiabilitiesAccrued
                  expenses
              
              $
              11,282Note
                  payable - stockholder
              
              
              25,146Total
                  Liabilities
              
              
              36,428Stockholders'
                  (Deficit)Preferred
                  stock - $0.0001 par value, 10,000,000 shares authorized, none issued
                  and
                  outstanding
              
              
              -Common
                  stock - $0.0001 par value, 75,000,000 shares authorized, 3,000,000
                  shares
                  issued and outstanding
              
              
              300Additional
                  paid-in -capital
              
              
              52,788Accumulated
                  (deficit)
              
              
              (89,516
              )Total
                  Stockholders' (Deficit)
              
              
              (36,428
              )Total
                  Liabilities and Stockholders' (Deficit)
              
              $
              -
 
 See
        notes
        to financial statements.
  F-2
  **Zane
        Acquisition I, Inc.**
 **Statement
        of Operations**
 
 **Year
                  Ended**
                **December 31, 2007**
              
              **Period**
                **July
                  21, 2006**
                **(inception)
                  to**
                **December 31, 2006**Revenues
              
              $
              -
              
              $
              -General
                  and administrative expenses
              
              
              52,481
              
              
              37,035Net
                  Loss
              
              $
              (52,481
              )
              $
              (37,035
              )Basic
                  and diluted loss per share
              
              $
              (0.02
              )
              $
              (0.01
              )Weighted
                  average number of common shares outstanding
              
              
              3,000,000
              
              
              3,000,000
  See
        notes
        to financial statements.
  F-3
  **Zane
        Acquisition I, Inc.**
 **Statements
        of Changes in Stockholders’ Equity (Deficit)**
 **Year
        Ended December 31, 2007 and for the period from July 21, 2006 (inception)
        to
        December 31, 2006**
 
 **Common
                  Stock**
              
              **Additional**
                **Paid-in**
              
              **Accumulated****Shares**
              
              **Amount**
              
              **Capital**
              
              **Deficit**
              
              **Total**Issuance
                  of common stock on July 21, 2006
              
              
              3,000,000
              
              $
              300
              
              $
              44,700
              
              
              
              
              $
              45,000Net
                  Loss
              
              
              
              
              
              
              
              
              
              
              $
              (37,035
              )
              
              (37,035
              )Balance
                  - December 31, 2006
              
              
              3,000,000
              
              
              300
              
              
              44,700
              
              
              (37,035
              )
              
              7,965Redemption
                  of common Stock
              
              
              (2,850,000
              )
              
              (285
              )
              
              (37,215
              )
              
              
              
              
              (37,500
              )Issuance
                  of common Stock
              
              
              2,850,000
              
              
              285
              
              
              37,215
              
              
              
              
              
              37,500Capital
                  contribution
              
              
              
              
              
              
              
              
              8,088
              
              
              
              
              
              8,088Net
                  Loss
              
              
              
              
              
              
              
              
              
              
              
              (52,481
              )
              
              (52,481
              )Balance
                  - December 31, 2007
              
              
              3,000,000
              
              $
              300
              
              $
              52,788
              
              $
              (89,516
              )
              $
              (36,428
              )
  See
        notes
        to financial statements.
  F-4
  **Zane
        Acquisition I, Inc.**
 **Statements
        of Cash Flows**
 
 **Year Ended**
                **December 31, 2007**
              
              **Period**
                **July 21, 2006**
                **(inception) to**
                **December 31, 2006****CASH
                  FLOWS FROM OPERATING ACTIVITIES**Net
                  Loss
              
              $
              (52,481
              )
              $
              (37,035
              )Adjustments
                  to reconcile net loss to net cashused
                  in operating activities:Increase
                  in accounts payable and accrued expenses
              
              
              10,356
              
              
              926Net
                  cash used in operating activities
              
              
              (42,125
              )
              
              (36,109
              )**CASH
                  FLOWS FROM FINANCING ACTIVITIES**Proceeds
                  from note payable - stockholder
              
              
              25,146
              
              
              -Redemption
                  of common stock
              
              
              (37,500
              )
              
              -Proceeds
                  from issuance of common stock
              
              
              37,500
              
              
              45,000Contribution
                  of capital
              
              
              8,088
              
              
              -Net
                  cash provided by financing activities
              
              
              33,234
              
              
              45,000Net
                  cash decrease for period
              
              
              (8,891
              )
              
              8,891Cash
                  - beginning
              
              
              8,891
              
              
              -Cash
                  - ending
              
              $
              -
              
              $
              8,891
  See
        notes
        to financial statements.
  F-5


**Zane
      Acquisition I, Inc.**


**Notes
      to Financial Statements**





**Note
      1 - Organization, Business and Operations**





Zane
      Acquisition I, Inc., (The “Company”) was incorporated in Delaware on July 21,
      2006 with the objective of acquiring or merging with an operating business.
      The
      Company is inactive.





**Note
      2 - Summary of Significant Accounting Polices**





***Basis
      of Presentation***




The
      financial statements include all the accounts of the Company.




***Use
      of Estimates***





The
      preparation of 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 disclosures of
      contingent assets and liabilities at the dates of the financial statements
      and
      the reported amounts of revenues and expenses during the reporting periods.
      Actual results could differ from those estimates.





***Income
      Taxes***




Deferred
      income taxes are provided for temporary differences between financial statement
      and income tax reporting under the liability method, using expected tax rates
      and laws that are expected to be in effect when the differences are expected
      to
      reverse. A valuation allowance is provided when it is more likely than not,
      that
      the deferred tax assets will not be realized.





Effective
      January 1, 2007, the Company adopted the provisions of Financial Accounting
      Standards Board (FASB) Interpretation No. 48, “Accounting for Uncertainty in
      Income Taxes, an interpretation of FASB Statement No. 109” (FIN 48). FIN48
      clarifies the accounting for uncertainty in income taxes recognized in the
      Company's financial statements in accordance with FASB Statement 109,
“Accounting for Income Taxes”, and prescribes a recognition threshold and
      measurement process for financial statement recognition and measurement of
      a tax
      position taken or expected to be taken in a tax return.





The
      Company's policy is to classify income tax assessments, if any, as interest
      expenses for interest assessments and as general and administrative expenses
      for
      penalty assessments.




***Financial
      Instruments***





The
      carrying amounts of financial instruments, including cash, notes payable,
      accounts payable and accrued expenses, approximate their fair values because
      of
      their relatively short maturities.




***Net
      Loss per Common Share***




Basic
      net
      loss per share is computed by dividing net loss by the weighted average number
      of shares of common stock outstanding during the period. Diluted net loss per
      share is computed by dividing net loss by the weighted average number of shares
      of common stock and potentially outstanding shares of common stock during each
      period. The Company had no potentially dilutive securities.


F-6


***New
      Accounting Pronouncements***




In
      September 2006, the FASB issued SFAS No. 157; "Fair Value Measurements", that
      defines fair value, establishes a framework for measuring fair value in
      generally accepted accounting principles ("GAAP"), and expands disclosures
      about
      fair value measurements. This Statement applies under other accounting
      pronouncements that require or permit fair value measurements. Prior to this
      Statement, there were different definitions of fair vale and limited guidance
      for applying those definitions in GAAP. Moreover, that guidance was dispersed
      among many accounting pronouncements that require fair value measurements.
      Differences in that guidance created inconsistencies that added to the
      complexity in applying GAAP. The changes to current practice resulting from
      the
      application of this statement relate to the definition of fair value, the
      methods used to measure fair value, and the expanded disclosures about fair
      value measurements. Statement 157 is effective for financial statements issued
      for fiscal years beginning after November 15, 2007, and interim periods within
      those fiscal years. The Company has not determined the effect, if any, that
      may
      result from the adoption of SFAS 157 on its financial statements.





In
      February 2007, the FASB issued SFAS
      No.
      159 "The Fair Value Option for Financial Assets and Financial Liabilities".
      SFAS
      No. 159 permits entities to choose, at specified election dates, to measure
      eligible items at fair value (the "fair value option"). A business entity shall
      report unrealized gains and losses on items for which the fair value option
      has
      been elected in earnings at each subsequent reporting date. The objective is
      to
      improve financial reporting by providing entities with the opportunity to
      mitigate volatility in reported earnings caused by measuring related assets
      and
      liabilities differently without having to apply complex hedge accounting
      provisions. SFAS No. 159 is effective as of the beginning of an entity's first
      fiscal year that begins after November 15, 2007. Early adoption is permitted
      as
      of the beginning of a fiscal year that begins on or before November 15, 2007,
      provided the entity also elects to apply the provisions of SFAS No. 157, "Fair
      Value Measurements".The
      Company has not determined the effect, if any, that may result from the adoption
      of SFAS No. 159 on its financial statements





In
      December 2007, the FASB issued SFAS No. 141(R), "Business Combinations -
      Revised" that improves the relevance, representational faithfulness, and
      comparability of the information that a reporting entity provides in its
      financial reports about a business combination and its effects. To accomplish
      that, this statement establishes principles and requirements how the acquirer
      recognizes and measures in its financial statements the identifiable assets
      acquired, the liabilities assumed, and any noncontrolling interest in the
      acquiree, recognizes and measures the goodwill acquired in the business
      combination or a gain from a bargain purchase, and determines what information
      to disclose to enable users of the financial statements to evaluate the nature
      and financial effects of the business combination. The changes to current
      practice resulting from the application of SFAS No. 141(R) are effective for
      financial statements issued for fiscal years beginning after December 15, 2008.
      The adoption of SFAS No. 141(R) before December 15, 2008 is prohibited. The
      Company has not determined the effect, if any, that may result from the adoption
      of SFAS No. 141(R) on its financial statements.





In
      December 2007, the FASB issued SFAS No. 160, "Noncontrolling Interests in
      Consolidated Financial Statements – an amendment of ARB No. 51". The
      objective of this Statement is to improve the relevance, comparability, and
      transparency of the financial information that a reporting entity provides
      in
      its consolidated financial statements by establishing accounting and reporting
      standards that require the following changes. The ownership interests in
      subsidiaries held by parties other than the parent be clearly identified,
      labeled, and presented in the consolidated statement of financial position
      within equity, but separate from the parent’s equity. The amount of consolidated
      net income attributable to the parent and to the noncontrolling interest must
      be
      clearly identified and presented on the face of the consolidated statement
      of
      income. When a subsidiary is deconsolidated, any retained noncontrolling equity
      investment in the former subsidiary is initially measured at fair value. The
      gain or loss on the deconsolidation of the subsidiary is measured using the
      fair
      value of any noncontrolling equity investment rather than the carrying amount
      of
      that retained investment and entities provide sufficient disclosures that
      clearly identify and distinguish between the interests of the parent and the
      interests of the noncontrolling owners. The changes to current practice
      resulting from the application of SFAS No. 160 is effective for financial
      statements issued for fiscal years beginning after December 15, 2008, and
      interim periods within those fiscal years. The adoption of SFAS No. 160 before
      December 15, 2008 is prohibited. The Company has not determined the effect,
      if
      any, that may result from the adoption of SFAS No. 160 on its financial
      statements.





Management
      does not believe that any other recently issued, but not yet effective
      accounting pronouncements, if adopted, would have a material effect on the
      accompanying financial statements.


F-7


**Note
      3 – Going Concern**





The
      accompanying financial statements have been prepared assuming that the Company
      will continue as a going concern, which contemplates the recoverability of
      assets and the satisfaction of liabilities in the normal course of business.
      The
      Company incurred net losses from inception of $89,516 and has negative working
      capital of $36,428. These
      factors, among others, raise substantial doubt about the Company’s ability to
      continue as a going concern. The
      ability of the Company to continue as a going concern is dependent upon
      management’s plan to find a suitable acquisition or merger candidate, raise
      additional capital from the sale of stock, receive additional paid in capital
      and ultimately, income from operations. The accompanying financial statements
      do
      not include any adjustments that might be required should the Company be unable
      to recover the value of its assets or satisfy its liabilities.





**Note
      4 - Stockholders’ (Defecit)**





Preferred
      Stock





The
      preferred stock of the Company may be issued by the Board of Directors of the
      Company in one or more classes or one or more series within any class and such
      classes or series shall have such voting powers, full or limited, or no voting
      powers, and such designations, preferences, limitations, or restrictions as
      the
      Board of Directors of the Company may determine, from time to time.





Common
      Stock





On
      April
      2, 2007, the Company redeemed 2,850,000 shares of its common stock from its
      stockholders/directors of the Company, for an aggregate purchase price of
      $37,500.





Also,
      on
      April 2, 2007, the Company sold the 2,850,000 shares of the Company's common
      stock it redeemed to Trinad Capital Master Fund, Ltd., (Trinad Capital),
      representing 95% of the issued and outstanding common stock for
      $37,500.





**Note
      5 – Income Taxes**




As
      of
      December 31, 2007, the Company had approximately $90,000 of net operating loss
      (NOL) carryforwards to reduce future Federal income taxes, expiring in various
      years through 2027. During August 2007, the Company had an ownership change,
      as
      defined by the Internal Revenue Service, which may subject the NOL's to annual
      limitations which could reduce or defer the use of the NOL
      carryforwards.




As
      of
      December 31, 2007, realization of the Company's net deferred tax asset of
      approximately $35,000 was not considered more likely than not and, accordingly,
      a valuation allowance of $35,000 has been provided. During the year ended
      December 31, 2007, the valuation allowance increased by $20,500.





Management
      has evaluated and concluded that there are no significant uncertain income
      tax
      positions requiring recognition in the Company's financial statements as of
      December 31, 2007.





As
      of
      December 31, 2007, the components of the net deferred tax asset consisted of
      the
      following:


Deferred
                  tax assets:Net
                  operating loss carryforwards
              
              $
              35,000Valuation
                  allowance
              
              
              (35,000
              )None


F-8





Income
      taxes differ from the amount computed by applying the statutory Federal income
      tax rate to loss before income taxes, as follows:





**Year Ended December 31,****2007**
            
            **2006**Federal
                income tax, at statutory rate
            
            $
            18,000
            
            $
            12,500State
                income tax, net of Federal benefit
            
            
            2,500
            
            
            2,000Change
                in valuation allowance
            
            
            (20,500
            )
            
            (14,500
            )Income
                taxes, as recorded
            
            
            None
            
            
            None





**Note
      6 - Related Party Transactions**





On August
      20, 2007, the Company entered into a loan agreement with Trinad
      Capital, whereby the Company may borrow up to a principal amount of
      $100,000 (Loan) prior to the Company's Next financing. The Loan bears
      interest at 10% per annum. Principal and accrued interest thereon shall be
      due
      upon the consummation of a sale of securities (other than a sale of shares
      of
      the Company’s common stock to officers, directors or employees of, or
      consultants of the Company in connection with their services to the Company),
      to
      a third party of not less than $200,000 (Next Financing). As of December 31,
      2007, accrued expenses include accrued interest of $226 due to Trinad Capital.




On
      August
      20, 2007, the Company entered into a management agreement (Management Agreement)
      with Trinad Management, LLC (“Trinad”), an affiliate of Trinad Capital. Pursuant
      to the terms of the Management Agreement, which is for a term of 5 years, Trinad
      will provide certain management services, including, without limitation the
      sourcing, structuring and negotiation of a potential business combination
      transaction involving the Company. The Company has agreed to pay Trinad a
      management fee of $90,000, per quarter, plus reimbursement of all expenses
      reasonably incurred by Trinad in connection with the management services. Either
      party may terminate with prior written notice. However, in the event the Company
      terminates the Management Agreement, it shall pay to Trinad a termination fee
      of
      $1,000,000.





Trinad
      has waived their management fees through December 31, 2007.





The
      Company utilizes the office space and equipment of Trinad Capital at no cost.
      Management estimates such amounts to be immaterial.




F-9




**ITEM
      8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE**





None.




**ITEM
      8(T). CONTROLS AND PROCEDURES**




(a)
              Evaluation
                  of Disclosure Controls and Procedures. Our chief executive officer
                  (principal executive officer) and chief financial officer (principal
                  financial officer) have reviewed and evaluated the effectiveness
                  of our
                  disclosure controls and procedures (as defined in Exchange Act
                  Rules 13a-15(e) and 15d-15(e)) as of the end of the period
                  covered by this Annual Report. Based on that evaluation, our chief
                  executive officer and chief financial officer have concluded that
                  our
                  current disclosure controls and procedures are adequate and effective
                  to
                  ensure that material information relating to the Company was
                  made known to them by others, particularly during the period in
                  which this
                  Annual Report on Form 10-KSB was being prepared.
 
 (b)
              Changes
                  in Internal Controls. There were no changes in our internal controls
                  over
                  financial reporting, identified in connection with the evaluation
                  of such
                  internal controls that occurred during our last fiscal year that have
                  materially affected, or are reasonably likely to materially affect,
                  our
                  internal controls over financial
                  reporting.  (c)
              Management’s Report on Internal Control over Financial
                Reporting*.*The
                management of the Company is responsible for establishing and maintaining
                adequate internal control over financial reporting. Internal control
                over
                financial reporting is defined in Rules 13a-15(f) and 15d-15(f) under
                the
                Exchange Act as a process designed by, or under the supervision of,
                the
                Company’s principal executive and principal financial officers and
                effected by the Company’s board of directors, management and other
                personnel to provide reasonable assurance regarding the reliability
                of
                financial reporting and the preparation of financial statements for
                external purposes in accordance with generally accepted accounting
                principles. The Company’s internal control over financial reporting
                includes those policies and procedures
                that:
  ·
            pertain
                to the maintenance of records that, in reasonable detail, accurately
                and
                fairly reflect the transactions and dispositions of the assets of
                the
                Company; 
 ·
            provide
                reasonable assurance that transactions are recorded as necessary
                to permit
                preparation of financial statements in accordance with generally
                accepted
                accounting principles, and that receipts and expenditures of the
                Company
                are being made only in accordance with authorizations of management
                and
                directors of the Company; and 
 ·
            provide
                reasonable assurance regarding prevention or timely detection of
                unauthorized acquisition, use or disposition of the Company’s assets that
                could have a material effect on the financial
                statements. 
 Because
        of its inherent limitations, internal control over financial reporting may
        not
        prevent or detect misstatements. Projections of any evaluation of effectiveness
        to future periods are subject to the risk that controls may become inadequate
        because of changes in conditions, or that the degree of compliance with the
        policies or procedures may deteriorate.
 
 The
        Company’s management assessed the effectiveness of the Company’s internal
        control over financial reporting as of December 31, 2007. In making this
        assessment, management used the criteria set forth by the Committee of
        Sponsoring Organizations of the Treadway Commission (COSO) in Internal
        Control-Integrated Framework. Based on the assessment, management believes
        that, as of December 31, 2007, the Company’s internal control over financial
        reporting is effective based on those criteria.
 
 This
        Annual Report on Form 10-KSB does not include an attestation report of the
        Company’s registered public accounting firm regarding internal control over
        financial reporting. Management’s report was not subject to attestation by the
        Company’s registered public accounting firm pursuant to temporary rules of the
        SEC that permit the Company to provide only a management’s report in this Annual
        Report on Form 10-KSB.




7


**ITEM
      8B. OTHER INFORMATION.**




None.





**PART
      III**





**ITEM
      9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE
      GOVERNANCE; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE
      ACT.**




The
      following table contains certain information with respect to our current
      directors and executive officers.





**Name**
            
            **Age**
            
            **Principal Occupation**Robert
                S. Ellin
            
            41
            
            Director,
                Chief Executive Officer and PresidentJay
                A. Wolf
            
            34
            
            Director
                and SecretaryCharles
                Bentz
            
            44
            
            Chief
                Financial OfficerBarry
                I. Regenstein
            
            50
            
            Director




**Board
      of Directors and Executive Officers**




***Robert
      S. Ellin*** 41, has
      served as a director and our Chief Executive Officer since June 15, 2007 and
      is one of the Managing Members of Trinad Management, LLC. Mr.
      Ellin
      is also a Managing Member of Trinad Capital Master Fund, Ltd., our principal
      stockholder and a hedge fund dedicated to investing in micro-cap public
      companies. Mr. Ellin currently sits on the boards of Command Security
      Corporation (CMMD), ProLink Holdings Corporation (PLKH), MPLC, Inc. (MPNC)
      and
      U.S. Wireless Data, Inc. (USWD). Prior to joining Trinad Capital Master Fund
      Ltd., Mr. Ellin was the founder and President of Atlantis Equities, Inc., a
      personal investment company. Founded in 1990, Atlantis has actively managed
      an
      investment portfolio of small capitalization public company as well as select
      private company investments. Mr. Ellin frequently played an active role in
      Atlantis investee companies including board representation, management
      selection, corporate finance and other advisory services. Through Atlantis
      and
      related companies, Mr. Ellin spearheaded investments into ThQ, Inc. (OTC:THQI),
      Grand Toys (OTC: GRIN), Forward Industries, Inc. (OTC: FORD) and completed
      a
      leveraged buyout of S&S Industries, Inc. where he also served as President
      from 1996 to 1998. Prior to founding Atlantis Equities, Mr. Ellin worked in
      Institutional Sales at LF Rothschild and prior to that he was the Manager of
      Retail Operations at Lombard Securities. Mr. Ellin received his B.A. from Pace
      University.




8




***Jay
      A. Wolf***  34, ** has
      served as a director since June 25, 2007 and our Secretary since June 15,
      2007 and is one of the Managing Members of
      Trinad Management, LLC. Mr.
      Wolf
      is also a Managing Director of Trinad Capital Master Fund Ltd. Mr. Wolf
      currently sits on the boards of Shells Seafood Restaurants (SHLL), ProLink
      Holdings Corporation (PLKH), U.S. Wireless Data, Inc. (USWD) and Optio
      Software, Inc. Mr. Wolf has ten years of investment and operations
      experience in a broad range of industries. Mr. Wolf is a co-founder of Trinad
      Capital, L.P., where he served as a managing director since its inception in
      2003. Prior to founding Trinad, Mr. Wolf served as the Executive Vice-President
      of Corporate Development for Wolf Group Integrated Communications where he
      was
      responsible for the company’s acquisition program. Prior to Wolf Group
      Integrated Communications, Mr. Wolf worked at Canadian Corporate Funding, a
      Toronto-based merchant bank, in the senior debt department, and subsequently
      for
      Trillium Growth, the Canadian Corporate Funding’s venture capital fund. Mr. Wolf
      received his B.A from Dalhousie University.




***Charles
      Bentz*** 44, has
      served as our Chief Financial Officer since June 15, 2007 and has 20 years
      of
      accounting and administrative experience in the asset management industry and
      is
      a Certified Public Accountant.  Prior to joining to joining Trinad
      Management, LLC, Mr. Bentz was a Vice President and the Controller of Fletcher
      Asset Management; Vice President, Controller and Head of Fund Administration
      & Compliance of the Reserve Funds; Vice President and head of fund
      administration & compliance of BlackRock Inc.; Vice president and Controller
      of HHF Acquisition Corp.; and Associate Vice President of Prudential Mutual
      Fund
      Management. Mr. Bentz is the Chief Financial Officer of Zane
      Acquisition I and Zane Acquisition II. Mr. Bentz began his career
      at Deloitte & Touche, and holds a Bachelor of Science in Accounting from
      Villanova University.





***Barry
      I. Regenstein*** 50, **** has
      served as a director since June 15, 2007 and is the President and Chief
      Financial Officer of Command Security Corporation. TCMF is a significant
      shareholder of Command Security Corporation. Trinad
      Capital Master Fund, Ltd. is a significant shareholder of Command Security
      Corporation and Mr. Regenstein has formerly served as a consultant for Trinad
      Capital Master Fund, Ltd. Mr. Regenstein has over 28 years of experience with
      23
      years of such experience in the aviation services industry. Mr. Regenstein
      was
      formerly Senior Vice President and Chief Financial Officer of Globe Ground
      North
      America (previously Hudson General Corporation), and previously served as the
      company’s Controller and as a Vice President. Prior to joining Hudson General
      Corporation in 1982, he had been with Coopers & Lybrand in Washington, D.C.
      since 1978. Mr. Regenstein currently sits of the boards of GTJ Co., Inc.,
      ProLink Holdings Corporation (PLKH) and MPLC, Inc. (MPNC).  Mr. Regenstein
      is a Certified Public Accountant and received his Bachelor of Science in
      Accounting from the University of Maryland and an M.S. in Taxation from Long
      Island University.




**Audit
      Committee**




We
      do not
      currently have an Audit Committee because we are not an operating company.
      If
      and when we find a suitable merger candidate and we successfully enter into
      a
      merger transaction whereby a company with assets and operations survives, we
      intend to establish an Audit Committee that fulfills the independent and other
      requirements promulgated by the SEC.




**Section
      16(A) Beneficial Ownership Reporting Compliance**




Section
      16(a) of the Exchange Act requires our officers, directors, and persons owning
      more than ten percent of a registered class of our equity securities (“ten
      percent stockholders”) to file reports of ownership and changes of ownership
      with the SEC. Officers, directors, and ten-percent stockholders are required
      by
      SEC regulations to furnish us with copies of all Section 16(a) reports they
      file
      with the SEC. To the best of our knowledge, based solely on review of the copies
      of such reports and amendments thereto furnished to us, we believe that during
      our fiscal year ended December 31, 2007, all Section 16(a) filing requirements
      applicable to our officers, directors, and ten percent stockholders were
      met.




9




**Code
      of Ethics**




We
      do not
      currently have a code of ethics because we are not an operating company. If
      and
      when we find a suitable merger candidate and we successfully enter into a merger
      transaction whereby a company with assets and operations survives, we intend
      to
      establish a code of ethics.




**ITEM
      10. EXECUTIVE COMPENSATION**





On
      August
      20, 2007, weentered into a Management Agreement (the “Management Agreement”) with
      Trinad Management, LLC (“Trinad”), an affiliate of TCMF. Pursuant to the terms
      of the Management Agreement, which is for a term of five years, Trinad will
      provide certain management services, including, without limitation the sourcing,
      structuring and negotiation of a potential business combination transaction
      involving the Company has agreed to pay Trinad a management fee of $90,000
      per
      quarter, plus reimbursement of all expenses reasonably incurred by Trinad
      connection with the provision of management services. Management fees for the
      year ended December 31, 2007 were voluntarily waived by Trinad. Either
      party may terminate with prior written notice. However, in the event the
      registrant terminates the Management Agreement, it shall pay to Trinad a
      termination fee of $1,000,000.




Other
      than as described above, there are no management agreements with our directors
      or executive officers and we do not anticipate that written agreements will
      be
      put in place in the foreseeable future.




We
      have
      no plans or arrangements with respect to remuneration received or that may
      be
      received by our executive officers to compensate such officers in the event
      of
      termination of employment (as a result of resignation, retirement, change of
      control) or a change of responsibilities following a change of
      control.




**ITEM
      11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
      STOCKHOLDER MATTERS**




The
      following tables set forth certain information regarding the beneficial
      ownership of our common stock as of March 26, 2008, by the (i) named executive
      officers, (ii) all persons, including groups, known to us to own beneficially
      more than five percent (5%) of the outstanding common stock, and (iii) all
      current executive officers and directors as a group. A person (or group) is
      deemed to be a beneficial owner of common stock if it can be acquired
      by such person or group within 60 days from March 24, 2008, upon the exercise
      of
      warrants, options or other rights exercisable for, or convertible into, common
      stock. As of March 26, 2008, there were a total of 3,000,000 shares of common
      stock outstanding.




Except
      as
      otherwise indicated, the address of each of the following persons is c/o Zane
      Acquisition I, Inc., 2121 Avenue of the Stars, Suite 2550, Los Angeles, CA
      90067:




**CERTAIN
      HOLDERS OF COMMON STOCK**




**Beneficially Owned as of**
              **December 31, 2007 (1)****Number of**
            
            **Percent of****Name
                and Address of Owner**
            
            **Shares**
            
            **Class**Trinad
                Capital Master Fund Ltd (TCMF).
            
            
            2,850,000
            
            
            95
            %Current
                directors or officers:Robert
                S. Ellin
            
            
            2,850,000
            (1)
            
            95
            %Jay
                A. Wolf
            
            
            2,850,000
            (1)
            
            95
            %All
                current directors and named executive officers asa
                group (four persons)
            
            
            5,870,000
            
            
            94.04
            %







(1)
      TCMF
      owns approximately 94% of our outstanding common stock. Robert Ellin and Jay
      Wolf, two of our directors and executive officers, are principals of Trinad
      Management, LLC which serves as the investment advisor to TCMF. As a result,
      each of Messrs. Ellin and Wolf may be deemed to beneficially own an aggregate
      of
      2,850,000 shares of Common Stock. Each of Messrs. Ellin and Wolf disclaims
      beneficial ownership of these securities except to the extent of their remaining
      interest therein.




10




**Changes
      in Control**





We
      are
      unaware of any contract or other arrangement which may at a subsequent date
      result in a change in control of our Company.




**ITEM
      12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
      INDEPENDENCE**





On
      August
      20, 2007, the Company executed a loan agreement (the "Loan Agreement") with
      TCMF, whereby TCMF agreed to loan to the Company up to a principal amount of
      $100,000 (the “Loan”) upon Company's consummation of a Next Financing (as
      defined below). TCMF shall make advances to the Company in such amounts as
      the
      Company shall request from time to time. The Loan bears interest at the rate
      of
      10% per annum. The entire outstanding principal amount of the Loan and any
      accrued interest thereon shall be due and payable by the Company on the
      consummation of a sale of shares (other than a sale of shares of the Company’s
      common stock, $0.0001 par value per share, to officers, directors or employees
      of, or consultants to, the Company in connection with services provided to
      the Company) to a third party or parties with proceeds to the Company of
      not less than $200,000 (a “Next Financing”). No amounts were borrowed against
      this loan at December 31, 2007.




11


On
      August
      20, 2007, the Company entered into a Management Agreement (the “Management
      Agreement”) with Trinad Management, LLC (“Trinad”), an affiliate of TCMF.
      Pursuant to the terms of the Management Agreement, which is for a term
      of five years, Trinad will provide certain management services, including,
      without limitation, the sourcing, structuring and negotiation of a potential
      business combination transaction involving the Company. The Company has agreed
      to pay Trinad a management fee of $90,000 per quarter, plus reimbursement of
      all
      expenses reasonably incurred by Trinad in connection with the provision of
      management services. Management fees for the year ended December 31, 2007 were
      voluntarily waived by Trinad. Either party may terminate the Management
      Agreement with prior written notice. However, in the event the Company
      terminates the Management Agreement, it shall pay to Trinad a termination fee
      of
      $1,000,000.




Our
      board
      of directors currently consists of three members. They are Robert Ellin, Jay
      Wolf and Barry Regenstein. Mr. Regenstein is an independent director. We have
      determined his independence using the definition of independence set forth
      in
      NASD Rule 4200.




12





**ITEM
      13. EXHIBITS**




EXHIBIT
              NUMBER
            
            DESCRIPTION OF EXHIBIT2.1
            
            Common
                Stock Purchase Agreement dated April 2, 2007 between the Registrant,
                TCMF and the Initial Stockholders (2)2.2
            
            Redemption
              Agreement dated April 2, 2007 (2)3.1
            
            Certificate
                of Incorporation (3)3.2
            
            Bylaws
                (4)10.1
            
            Loan
                Agreement with Trinad Capital Master Fund, Ltd., dated August 20,
                2007
                (1)10.2
            
            Management
                Agreement dated August 20, 2007 between Company and Trinad
                Management, LLC (1)31.1
            
            Certification
                of Chief Executive Officer *31.2
            
            Certification
                of Chief Financial Officer *32.1
            
            Certification
                of Principal Executive Officer pursuant to U.S.C. Section 1350
                *32.2
            
            Certification
                of Principal Financial Officer pursuant to U.S.C. Section 1350
                *







*
      Filed
      herewith.





(1)
      Incorporated by reference to the Registrant’s Current Report on Form 8-K dated
      August 23, 2007


(2)
      Incorporated by reference to the Registrant's Current Report on Form 8-K dated
      April 4, 2007


(3)
      Incorporated by reference to the Registrant's Current Report on Form 10-SB
      dated
      October 19, 2006.


(4)
      Incorporated by reference to the Registrant's Current Report on Form 8-K dated
      January 9, 2006.





**ITEM
      14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**





The
      following table presents fees for professional audit services rendered by Raich
      Ende Malter & Co. LLP for
      the
      years ended December 31, 2007 and 2006:




**2007**
            
            **2006**Audit
                fees:(1)
            
            $
            22,000
            
            $
            16,500Audit
                related fees:(2)
            
            
            0
            
            
            0Tax
                fees:(3)
            
            
            0
            
            
            0All
                other fees:(4)
            
            
            0
            
            
            0Total
            
            $
            22,000
            
            $
            16,500




13




**Policy
      on Pre-Approval of Audit and Permissible Non-audit Services of Independent
      Auditors**




Consistent
      with SEC policies regarding auditor independence, the Board of Directors has
      responsibility for appointing, setting compensation and overseeing the work
      of
      the independent auditor. In recognition of this responsibility, the Board of
      Directors has established a policy to pre-approve all audit and permissible
      non-audit services provided by the independent auditor.




Prior
      to
      engagement of the independent auditor for the next year’s audit, management will
      submit an aggregate of services expected to be rendered during that year for
      each of the following four categories of services to the Board of Directors
      for
      approval.




1. **Audit** services
      include audit work performed in the preparation of financial statements, as
      well
      as work that generally only the independent auditor can reasonably be expected
      to provide, including comfort letters, statutory audits, and attest services
      and
      consultation regarding financial accounting and/or reporting
      standards.




2. **Audit-Related** services
      are for assurance and related services that are traditionally performed by
      the
      independent auditor, including due diligence related to mergers and
      acquisitions, employee benefit plan audits, and special procedures required
      to
      meet certain regulatory requirements.




3. **Tax** services
      include all services performed by the independent auditor’s tax personnel except
      those services specifically related to the audit of the financial statements,
      and includes fees in the areas of tax compliance, tax planning, and tax
      advice.




4. **Other
      Fees** are
      those associated with services not captured in the other
      categories.




Prior
      to
      engagement, the Board of Directors pre-approves these services by category
      of
      service. The fees are budgeted and the Board of Directors requires the
      independent auditor and management to report actual fees versus the budget
      periodically throughout the year by category of service. During the year,
      circumstances may arise when it may become necessary to engage the independent
      auditor for additional services not contemplated in the original pre-approval.
      In those instances, the Board of Directors requires specific pre-approval before
      engaging the independent auditor.




The
      Board
      of Directors may delegate pre-approval authority to one or more of its members.
      The member to whom such authority is delegated must report, for informational
      purposes only, any pre-approval decisions to the Board of Directors at its
      next
      scheduled meeting.




Our
      Board
      of Directors pre-approved the retention of Raich
      Ende Malter & Co. LLP for
      all
      audit and audit-related services during fiscal year 2007.




14





**SIGNATURES**




In
      accordance with Section 13 or 15 of the Exchange Act, the Registrant caused
      this
      Report to be signed on its behalf by the undersigned, thereunto duly
      authorized.




Zane
                Acquisition I, Inc.Dated:
                March 31, 2008
            By:
            /s/
                Robert S. EllinRobert
                S. Ellin
              Chairman
                of the Board,
              Chief
                Executive Officer




In
      accordance with the requirements of the Exchange Act, this Report has been
      signed below by the following persons in the capacities and on the dates
      indicated.





**Signatures**
            
            **Title**
            
            **Date**/s/
                Robert S. Ellin
            
            Director
                and Chief Executive
            
            March
                31, 2008Robert
                S. Ellin
            
            Officer/s/
                Jay A. Wolf
            
            Director
                and Secretary
            
            March
                31, 2008Jay
                A. Wolf/s/
                Charles Bentz
            
            Chief
                Financial Officer
            
            March
                31, 2008Charles
                Bentz




15