**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      DC 20549**





**Form
      10-QSB/A**


**Amendment
      No. 1**





(Mark
      one)


x Quarterly
      Report Under Section 13 or 15(d) of the Securities Exchange Act of
      1934





**For
      the quarterly period ended March 31, 2005**





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





For
      the
      transition period from ______________ to _____________







Commission
      File Number: 0-14247





**IsoRay,
      Inc.**


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





Minnesota
            41-1458152(State
                of incorporation)
            (IRS
                Employer ID Number)





350
      Hills Street, Suite 106, Richland, WA 99354


(Address
      of principal executive offices)





(509)
      375-1202


(Issuer's
      telephone number)





Century
      Park Pictures Corporation, 4701 IDS Center, Minneapolis, MN
      55402


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








Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 12 months (or for such shorter period
      that the registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days. YES x  NO
o





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act):


YESo NO x





State
      the
      number of shares outstanding of each of the issuer's classes of common equity
      as
      of the latest practicable date:  May
      2,
      2006: 14,722,686





Transitional
      Small Business Disclosure Format (check one):  YES
o NO
      x







**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)





Form
      10-QSB/A for the Quarter ended March 31, 2005





Table
      of
      Contents


Page**Part
                  I - Financial Information**Item
                  1 Financial Statements
              3Item
                  2 Management's Discussion and Analysis or Plan of
                  Operation
              14Item
                  3 Controls and Procedures
              16**Part
                  II - Other Information**Item
                  1 Legal Proceedings
              16Item
                  2 Recent Sales of Unregistered Securities and Use of
                  Proceeds
              17Item
                  3 Defaults Upon Senior Securities
              17Item
                  4 Submission of Matters to a Vote of Security Holders
              17Item
                  5 Other Information
              17Item
                  6 Exhibits
              18**Signatures**
              18










**PART
      I**


**Item
      1 - Financial Statements**


**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)


**Restated
      Balance Sheets**


March
      31,
      2005 and 2004





**(Unaudited)**





(Restated)
            
            
            (Restated)March
                31,
            
            
            March
                31,2005
            
            
            2004**Assets****Current
                Assets**Cash
                on hand and in bank
            
            $
            -
            
            $
            -**Total
                current assets**
            
            
            -
            
            
            -**Property
                and Equipment - at cost**Furniture
                and fixtures
            
            
            94,077
            
            
            94,077Less
                accumulated depreciation
            
            
            (94,077
            )
            
            (94,077
            )**Net
                property and equipment**
            
            
            -
            
            
            -**Other
                Assets**Rent
                deposits
            
            
            926
            
            
            926**Total
                Assets**
            
            $
            926
            
            $
            926**Liabilities
                and Shareholders’ Equity****Current
                Liabilities**Accounts
                payable - trade
            
            $
            470
            
            $
            -Other
                accrued expenses
            
            
            -
            
            
            9,027Advances
                from shareholder
            
            
            43,703
            
            
            32,414Accrued
                officer compensation
            
            
            50,000
            
            
            354,500**Total
                current liabilities**
            
            
            93,703
            
            
            395,941**Commitments
                and contingencies****Shareholders’
                Equity**Common
                stock - $0.001 par value.200,000,000
                shares authorized.2,414,985
                shares issued and outstanding
            
            
            2,415
            
            
            2,415Additional
                paid-in capital
            
            
            7,179,110
            
            
            6,874,610Accumulated
                deficit
            
            
            (7,274,772
            )
            
            (7,272,040
            )**Total
                shareholders’ equity**
            
            
            (93,247
            )
            
            (395,015
            )**Total
                Liabilities and****Shareholders’
                Equity**
            
            $
            926
            
            $
            926




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




3


**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)


**Restated
      Statements of Operations and Comprehensive Loss**


Six
      and
      Three months ended March 31, 2005 and 2004





**(Unaudited)**





(Restated)
            
            
            (Restated)
            
            
            (Restated)
            
            
            (Restated)Six
                months
            
            
            Six
                months
            
            
            Three
                months
            
            
            Three
                monthsended
            
            
            ended
            
            
            ended
            
            
            endedMarch
                31,
            
            
            March
                31,
            
            
            March
                31,
            
            
            March
                31,2005
            
            
            2004
            
            
            2005
            
            
            2004**Revenues**
            
            $
            -
            
            $
            -
            
            $
            -
            
            $
            -**Expenses**General
                and administrative expenses
            
            
            6,034
            
            
            12,397
            
            
            2,460
            
            
            1,591Statutory
                cancellation of notes payable and accrued interest
            
            
            -
            
            
            (86,956
            )
            
            -
            
            
            -**Total
                expenses**
            
            
            6,034
            
            
            (74,559
            )
            
            2,460
            
            
            1,591**Income
                (Loss) from operations**
            
            
            (6,034
            )
            
            74,559
            
            
            (2,460
            )
            
            (1,591
            )**Other
                Income (Expense)**Interest
                expense
            
            
            -
            
            
            (2,104
            )
            
            -
            
            
            -**Income
                (Loss) before provision for income taxes**
            
            
            (6,034
            )
            
            72,455
            
            
            (2,460
            )
            
            (1,591
            )**Provision
                for income taxes**
            
            
            -
            
            
            -
            
            
            -
            
            
            -**Net
                Income (Loss)**
            
            
            (6,034
            )
            
            72,455
            
            
            (2,460
            )
            
            (1,591
            )**Other
                comprehensive income**
            
            
            -
            
            
            -
            
            
            -
            
            
            -**Comprehensive
                Income (Loss)**
            
            $
            (6,034
            )
            $
            72,455
            
            $
            (2,460
            )
            $
            (1,591
            )Net
                loss per weighted-average share of common stock outstanding, calculated
                on
                Net Loss - basic and fully diluted
            
            $
            (0.00
            )
            $
            0.03
            
            $
            (0.00
            )
            $
            (0.00
            )Weighted-average
                number of shares of common stock outstanding
            
            
            2,414,985
            
            
            2,306,395
            
            
            2,414,985
            
            
            2,414,985




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


4


**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)


**Restated
      Statements of Cash Flows**


Six
      months ended March 31, 2005 and 2004





**(Unaudited)**





(Restated)
            
            
            (Restated)Six
                months
            
            
            Six
                monthsended
            
            
            endedMarch
                31,
            
            
            March
                31,2005
            
            
            2004**Cash
                Flows from Operating Activities**Net
                Income (Loss)
            
            $
            (6,034
            )
            $
            72,455Adjustments
                to reconcile net income to net cash provided by operating
                activitiesForgiveness
                of notes payable and accrued interest
            
            
            -
            
            
            (86,956
            )Consulting
                fees paid with common stock
            
            
            -
            
            
            7,870Contribution
                of interest expense related to suspended interest payable on notes
                payable
            
            
            -
            
            
            2,104Increase
                (Decrease) in Accounts payable and accrued expenses
            
            
            -
            
            
            -**Net
                cash used in operating activities**
            
            
            (6,034
            )
            
            (4,527
            )**Cash
                Flows from Investing Activities**
            
            
            -
            
            
            -**Cash
                Flows from Financing Activities**Funds
                advanced by officer/shareholder
            
            
            6,034
            
            
            4,527**Net
                cash provided by financing activities**
            
            
            6,034
            
            
            4,527**Increase
                (Decrease) in Cash and Cash Equivalents**
            
            
            -
            
            
            -Cash
                and cash equivalents at beginning of period
            
            
            -
            
            
            -Cash
                and cash equivalents at end of period
            
            $
            -
            
            $
            -**Supplemental
                Disclosures of Interest and Income Taxes Paid**Interest
                paid during the period
            
            $
            -
            
            $
            -Income
                taxes paid (refunded)
            
            $
            -
            
            $
            -**Supplemental
                Disclosure of Non-Cash Investing and Financing
                Activities**Conversion
                of forgiven unpaid accrued officers compensation to contributed
                capital
            
            $
            304,500
            
            $
            -Conversion
                of outstanding notes payable into common stock
            
            $
            -
            
            $
            50,000Conversion
                of accrued interest payable into common stock
            
            $
            -
            
            $
            36,758





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


5


**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)





**Notes
      to Restated Financial Statements**





**Note
      A - Organization and Description of Business**





Century
      Park Pictures Corporation (Company) was incorporated in 1983 in accordance
      with
      the Laws of the State of Minnesota.





In
      prior
      periods, the Company developed, produced and marketed various entertainment
      properties, including without limitation, the intellectual product(s) of
      entities engaged in the motion picture, television, and theatrical state
      productions, such as creative writers, producers and directors, for the motion
      picture, pay/cable and commercial television markets.





The
      Company has effectively had no operations, assets or liabilities since its
      fiscal year ended September 30, 1999.





On
      May
      27, 2005, the Company’s Board of Directors reallocated the Company’s authorized
      capital stock into 2 categories with the designation of preferred stock. The
      effect of this action was to allocate the authorized aggregate 200,000,000
      shares of capital stock into 194,000,000 shares of $0.001 par value Common
      Stock
      and 6,000,000 shares of $0.001 par value Preferred Stock. As filed with the
      State of Minnesota on June 29, 2005, the Board of Directors allocated the
      6,000,000 shares of Preferred Stock as follows: 1,000,000 shares as $0.001
      par
      value Class A Convertible Preferred Stock and 5,000,000 shares as $0.001 par
      value Class B Convertible Preferred Stock. The effect of this action is
      reflected in the accompanying financial statements as of the first day of the
      first period presented.





On
      May
      27, 2005, the Company; a newly-formed, wholly-owned subsidiary, Century Park
      Transitory Subsidiary, Inc., a Delaware corporation (Merger Subsidiary) , Thomas
      Scallen and Anthony Silverman, shareholders of the Company, and IsoRay Medical,
      Inc., a Delaware corporation (IsoRay) entered into a Merger Agreement. Pursuant
      to the Merger Agreement, the Merger Subsidiary will be merged with and into
      IsoRay and IsoRay will become a wholly-owned subsidiary of the Company (Merger).
      In the Merger, the IsoRay stockholders are entitled to receive approximately
      82%
      of the then outstanding shares of common stock of the Company. The Merger
      Agreement is subject to the satisfaction of certain conditions, including the
      approval of the Merger by stockholders of IsoRay representing a majority of
      the
      outstanding shares of common stock of IsoRay entitled to vote, which occurred
      on
      June 28, 2005), the granting of certain "piggy-back" and demand registration
      rights to the purchasers of the certain debentures of IsoRay, Anthony Silverman
      and certain other affiliates of he Company, the agreements of the officers
      and
      directors of IsoRay to lock-up the shares of the Company received in the Merger
      for a period of one year from the closing of the Merger, the agreements of
      Thomas Scallen and Anthony Silverman to escrow certain shares of common stock
      of
      the Company, and the receipt by IsoRay from Anthony Silverman or his associates
      of One Million Dollars as the purchase price of certain securities of IsoRay
      before the closing.





On
      July
      28, 2005, the Merger contemplated by the Merger Agreement dated May 27, 2005
      was
      completed with the filing of a Certificate of Merger with the Secretary of
      State
      of Delaware, merging Century Park Transitory Subsidiary, Inc. into IsoRay
      Medical, Inc. As a result of the Merger and pursuant to the Merger Agreement,
      IsoRay Medical, Inc. became a wholly-owned subsidiary of the Company. The
      Company concurrently changed its name to IsoRay, Inc.





The
      Company issued shares of its common stock and shares of its preferred stock
      to
      holders of common and preferred stock of IsoRay Medical, Inc. at a rate of
      0.842362 share of the Company’s common stock for each share of IsoRay Medical,
      Inc. stock. Options and warrants to purchase common and preferred stock of
      IsoRay Medical, Inc. will also be converted at the same rate into options and
      warrants to purchase common and preferred stock of the Company. At the time
      of
      the Merger, subsequent to the aforementioned 1:30 reverse stock split, the
      Company had 2,498,319 post-reverse split shares of common stock outstanding.
      Following the Merger, the Company has approximately 10,237,797 shares of common
      and preferred stock outstanding. The total amount of shares outstanding, on
      a
      fully-diluted basis, post merger will be 13,880,822, which includes not only
      shares of common stock, but also shares of preferred stock, warrants, options
      and convertible debentures that could be exercised or converted into shares
      of
      common stock. Following the Merger, on a fully diluted basis, the shareholders
      of IsoRay Medical, Inc. own 82% of the Company’s outstanding
      securities.


6


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**


**Note
      B - Preparation of Financial Statements**





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





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





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





During
      interim periods, the Company follows the accounting policies set forth in its
      annual audited financial statements filed with the U. S. Securities and Exchange
      Commission on its Annual Report on Form 10-KSB for the year ended September
      30,
      2004. The information presented within these interim financial statements may
      not include all disclosures required by generally accepted accounting principles
      and the users of financial information provided for interim periods should
      refer
      to the annual financial information and footnotes when reviewing the interim
      financial results presented herein.





In
      the
      opinion of management, the accompanying interim financial statements, prepared
      in accordance with the U. S. Securities and Exchange Commission’s instructions
      for Form 10-QSB, are unaudited and contain all material adjustments, consisting
      only of normal recurring adjustments necessary to present fairly the financial
      condition, results of operations and cash flows of the Company for the
      respective interim periods presented. The current period results of operations
      are not necessarily indicative of results which ultimately will be reported
      for
      the full fiscal year ending September 30, 2005.





For
      segment reporting purposes, the Company operated in only one industry segment
      during the periods represented in the accompanying financial statements and
      makes all operating decisions and allocates resources based on the best benefit
      to the Company as a whole.





**Note
      C - Going Concern Uncertainty**





The
      Company has effectively had no operations, assets or liabilities since its
      fiscal year ended September 30, 1999.





The
      Company has no operating activities, no cash on hand, no profit and operates
      a
      business plan with inherent risk. Because of these factors, our auditors have
      issued an audit opinion for the Company which includes a statement describing
      our going concern status. This means, in our auditor’s opinion, substantial
      doubt about our ability to continue as a going concern exists at the date of
      their opinion.





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





The
      Company anticipates offering future sales of equity securities. However, there
      is no assurance that the Company will be able to obtain additional funding
      through the sales of additional equity securities or, that such funding, if
      available, will be obtained on terms favorable to or affordable by the
      Company.


7


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**


**Note
      C - Going Concern Uncertainty - Continued**





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





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





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





**Note
      D - Summary of Significant Accounting Policies**





1.
            Cash
                and cash equivalents





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





2.
            Property
                and equipment





Property
      and equipment consists of furniture and fixtures and is stated at the lower
      of
      depreciated cost or net realizable value.





3.
            Income
                Taxes





The
      Company uses the asset and liability method of accounting for income taxes.
      At
      March 31, 2005 and 2004, respectively, the deferred tax asset and deferred
      tax
      liability accounts, as recorded when material to the financial statements,
      are
      entirely the result of temporary differences. Temporary differences represent
      differences in the recognition of assets and liabilities for tax and financial
      reporting purposes, primarily accumulated depreciation and amortization,
      allowance for doubtful accounts and vacation accruals.





As
      of
      March 31, 2005 and 2004, the deferred tax asset related to the Company’s net
      operating loss carryforward is fully reserved. Due to the provisions of Internal
      Revenue Code Section 338, the Company may have limited net operating loss
      carryforwards available to offset financial statement or tax return taxable
      income in future periods as a result of any future change in control involving
      50 percentage points or more of the issued and outstanding securities of the
      Company.





4.
            Income
                (Loss) per share





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





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


8


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**





**Note
      D - Summary of Significant Accounting Policies - Continued**





4.
            Income
                (Loss) per share-
                continued





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





At
      March
      31, 2005 and 2004, and subsequent thereto, the Company has no outstanding stock
      warrants, options or convertible securities which could be considered as
      dilutive for purposes of the loss per share calculation.





**Note
      E - Fair Value of Financial Instruments**





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





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





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





**Note
      F - Notes Payable**





On
      July
      31, 2002, the Company’s Board of Directors and the respective noteholders
      approved the extension of the ultimate maturity date of the notes through
      December 3, 2003. In conjunction with the extension, the noteholders agreed
      to
      discontinue the accrual of interest subsequent to July 31, 2002.





The
      effect of the discontinuance of interest accruals subsequent to July 31, 2002
      will be charged to operations as a component of interest expense with an offset
      to contributed additional paid-in capital to recognize the economic effect
      of
      the suspended and forgiven interest on these notes in the respective future
      period.





On
      June
      25, 2003, noteholders aggregating $300,000 in outstanding principal and $231,900
      in accrued interest payable exercised their respective conversion rights and
      received an aggregate 53,106,900 shares of restricted, common stock upon
      conversion.





On
      December 3, 2003, the final ultimate maturity date, one remaining noteholder
      exercised his conversion rights and converted approximately $50,000 in principal
      and $36,758 in accrued interest payable into 8,675,800 shares of restricted,
      unregistered common stock.





On
      December 3, 2003, upon the failure to timely convert or post a timely claim
      for
      repayment, the Company’s Board of Directors, acting upon the advise of legal
      counsel, voided the remaining outstanding unconverted notes payable of
      approximately $50,000 and the associated accrued interest of approximately
      $36,956 and recognized a one-time gain on the technical forgiveness of these
      debts.





For
      the
      respective years ended September 30, 2004 and 2003, the Company has recognized
      approximately $2,104 and $41,005 in additional paid-in capital for imputation
      of
      suspended interest on these notes.


9


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**


**Note
      G - Related Party Transactions**





Through
      March 31, 2005, the Company’s Chief Executive Officer has advanced the Company
      approximately $44,000 to support operations, settle outstanding trade accounts
      payable and provide working capital. The advance was repayable upon demand
      and
      is non-interest bearing and is unsecured. Effective June 30, 2005, with the
      anticipation of the consummation of the reverse acquisition transaction with
      IsoRay Medical, Inc., as previously discussed, these advances were forgiven
      and
      reclassified as additional paid-in capital in the accompanying financial
      statements as of that date.





During
      the quarter ended March 31, 2005, the Company’s former Chief Executive Officer
      forgave approximately $304,500 in accrued salary for prior periods and this
      forgiveness was credited as “additional paid-in capital” to reflect the
      contribution effect of this action.





**Note
      H - Income Taxes**





The
      components of income tax (benefit) expense for each of the six month periods
      ended March 31, 2005 and 2004, respectively, are as follows:




(Restated)
            
            
            (Restated)Six
                months
            
            
            Six
                monthsended
            
            
            endedMarch
                31,
            
            
            March
                31,2005
            
            
            2004Federal:Current
            
            $
            -
            
            $
            -Deferred
            
            
            -
            
            
            --
            
            
            -State:Current
            
            
            -
            
            
            -Deferred
            
            
            -
            
            
            --
            
            
            -Total
            
            $
            -
            
            $
            -





As
      of
      June 30, 2005, the Company has a Federal net operating loss carryforward of
      approximately $3,900,000 and a State net operating loss carryforward of
      approximately $1,200,000 to offset future taxable income. Subject to current
      regulations, these carryforwards expire, if unused, through 2015. Due to the
      July 2005 business combination transaction, the utilization of these
      carryforwards, if any, will be governed by the appropriate Federal and State
      statutes.





The
      Company's income tax benefit (expense) for each of the six month periods ended
      March 31, 2005 and 2004, respectively, differed from the statutory federal
      rate
      of 34 percent as follows:





Six
                months
            
            
            Six
                monthsended
            
            
            endedMarch
                31,
            
            
            March
                31,2005
            
            
            2004Statutory
                rate applied to earnings (loss) before income taxes
            
            $
            (2,050
            )
            $
            24,635Increase
                (decrease) in income taxes resulting from:State
                income taxes
            
            
            -
            
            
            -Other,
                including reserve for deferred tax asset
            
            
            2,050
            
            
            (24,635
            )Income
                tax expense
            
            $
            -
            
            $
            -


10


**IsoRay,
      Inc.**


(formerly
      Century Park Pictures Corporation)





**Notes
      to Restated Financial Statements - Continued**





**Note
      H - Income Taxes - Continued**





Temporary
      differences, consisting primarily of statutory differences between the financial
      statement carrying amounts and tax bases of assets and liabilities give rise
      to
      deferred tax assets and liabilities as of the respective years ended September
      30, 2004 and 2003.





Year
                ended September 30, 2004Federal
            
            
            State
            
            
            TotalDeferred
                tax assets:Other
                (current)
            
            $
            96,000
            
            $
            35,000
            
            $
            131,000Net
                operating loss carryforwards (non-current)
            
            
            932,000
            
            
            77,000
            
            
            1,009,0001,028,000
            
            
            112,000
            
            
            1,140,000Valuation
                allowance
            
            
            (1,028,000
            )
            
            (112,000
            )
            
            (1,140,000
            )Net
                Deferred tax asset
            
            $
            -
            
            $
            -
            
            $
            -Deferred
                tax liabilities
            
            $
            -
            
            $
            -
            
            $
            -





Year
                ended September 30, 2003Federal
            
            
            State
            
            
            TotalDeferred
                tax assets:Other
                (current)
            
            $
            96,000
            
            $
            35,000
            
            $
            131,000Net
                operating loss carryforwards (non-current)
            
            
            932,000
            
            
            77,000
            
            
            1,009,0001,028,000
            
            
            112,000
            
            
            1,140,000Valuation
                allowance
            
            
            (1,028,000
            )
            
            (112,000
            )
            
            (1,140,000
            )Net
                Deferred tax asset
            
            $
            -
            
            $
            -
            
            $
            -Deferred
                tax liabilities
            
            $
            -
            
            $
            -
            
            $
            -





During
      the years ended September 30, 2004 and 2003, respectively, the valuation
      allowance increased (decreased) by approximately $-0- and $-0-. Realization
      of
      deferred tax assets is dependent upon sufficient future taxable income during
      the period that deductible temporary differences and carryforwards are expected
      to be available to reduce taxable income.





**Note
      J - Common Stock Transactions**





On
      April
      29, 2005, the Company's Board of Directors approved and authorized a 1-for-30
      reverse split of the then issued and outstanding common stock of the Company.
      The reverse stock split did not change the number of authorized shares of common
      stock or the par value of the Company’s common stock. Except for any changes as
      a result of the treatment of fractional shares, each shareholder holds the
      same
      percentage of common stock outstanding immediately following the reverse stock
      split as such shareholder did immediately prior to the reverse stock split.
      The
      effect of this action is reflected in the accompanying financial statements
      as
      of the first day of the first period presented





On
      June
      25, 2003, the Company issued an aggregate 1,770,230 post-reverse split shares
      of
      restricted, unregistered common stock (53,106,900 pre-reverse split shares)
      in
      redemption of various outstanding notes payable in the face amount of
      approximately $300,000 and accrued interest payable of approximately $237,835,
      pursuant to the conversion terms of the respective notes. The valuation of
      this
      transaction was equal to the “fair value” of the Company’s common stock on the
      conversion date.


11


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**





**Note
      J - Common Stock Transactions - Continued**





On
      December 3, 2003, the Company issued 289,194 post-reverse split shares of
      restricted, unregistered common stock (8,675,800 pre-reverse split shares)
      in
      redemption of two (2) notes payable in the face amount of approximately $50,000
      and accrued interest payable of approximately $36,758, pursuant to the
      conversion terms of the respective notes. The valuation of this transaction
      was
      equal to the “fair value” of the Company’s common stock on the conversion date.
      The Company relied upon Section 4(2) of The Securities Act of 1933, as amended,
      for an exemption from registration of these shares and no underwriter was used
      in this transaction.





On
      December 3, 2003, the Company issued 26,237 post-reverse split shares of
      restricted, unregistered common stock (787,100 pre-reverse split shares) as
      compensation for fees associated with the conversion of the outstanding notes
      payable and accrued interest payable. This transaction was valued at
      approximately $7,871, which was equal to the “fair value” of the Company’s
      common stock on the conversion date. The Company relied upon Section 4(2) of
      The
      Securities Act of 1933, as amended, for an exemption from registration of these
      shares and no underwriter was used in this transaction.





On
      or
      about May 2, 2005, the Company sold an aggregate 83,334 post-reverse split
      shares of unregistered, restricted common stock (2,500,000 pre-reverse split
      shares) for cash proceeds of approximately $85,000 to three (3) separate
      individuals, including 148,000 shares to the Company’s former President. The
      Company relied upon Section 4(2) of The Securities Act of 1933, as amended,
      for
      an exemption from registration of these shares and no underwriter was used
      in
      this transaction. The Company granted “piggy-back” registration rights to the
      holders of the shares of common stock which would entitle a holder to request
      that the Company register the common stock if the Company files a registration
      statement at any time prior to three years from the date the Company sold such
      shares of common stock. The Company has agreed to keep such registration
      statement current for up to 270 days. The Company has agreed to pay all expenses
      associated with any registration of the common stock except any underwriter's
      commissions or fees or any fees of others employed by a selling shareholder,
      including attorneys' fees; which shall be the responsibility of the selling
      shareholder.





**Note
      K - Commitments and Contingencies**





The
      Company leases office space under a noncancellable operating lease that expired
      on August 31, 2002. The space has been sub-leased to a separate company owned
      by
      the Company's CEO. The Company incurred no expense related to this lease during
      either of the years ended September 30, 2003 and 2002, respectively, or
      subsequent thereto.





**Note
      L - Subsequent Events**





On
      or
      about May 2, 2005, the Company sold an aggregate 83,334 post-reverse split
      shares of unregistered, restricted common stock (2,500,000 pre-reverse split
      shares) for cash proceeds of approximately $85,000 to three (3) separate
      individuals, including 148,000 shares to the Company’s former President. The
      Company relied upon Section 4(2) of the Securities Act of 1933, as amended,
      for
      an exemption from registration of these shares and no underwriter was used
      in
      this transaction. The Company granted “piggy-back” registration rights to the
      holders of the shares of common stock which would entitle a holder to request
      that the Company register the common stock if the Company files a registration
      statement at any time prior to three years from the date the Company sold such
      shares of common stock. The Company has agreed to keep such registration
      statement current for up to 270 days. The Company has agreed to pay all expenses
      associated with any registration of the common stock except any underwriter's
      commissions or fees or any fees of others employed by a selling shareholder,
      including attorneys' fees; which shall be the responsibility of the selling
      shareholder.


12


**IsoRay,
        Inc.**
 (formerly
        Century Park Pictures Corporation)
 
 **Notes
        to Restated Financial Statements - Continued**


**Note
      L - Subsequent Events - Continued**





On
      May
      27, 2005, the Company’s Board of Directors reallocated the Company’s authorized
      capital stock into 2 categories with the designation of preferred stock. The
      effect of this action was to allocate the authorized aggregate 200,000,000
      shares of capital stock into 194,000,000 shares of $0.001 par value Common
      Stock
      and 6,000,000 shares of $0.001 par value Preferred Stock. As filed with the
      State of Minnesota on June 29, 2005, the Board of Directors allocated the
      6,000,000 shares of Preferred Stock as follows: 1,000,000 shares as $0.001
      par
      value Class A Convertible Preferred Stock and 5,000,000 shares as $0.001 par
      value Class B Convertible Preferred Stock. The effect of this action is
      reflected in the accompanying financial statements as of the first day of the
      first period presented.





On
      May
      27, 2005, the Company; a newly-formed, wholly-owned subsidiary, Century Park
      Transitory Subsidiary, Inc., a Delaware corporation (Merger Subsidiary) , Thomas
      Scallen and Anthony Silverman, shareholders of the Company, and IsoRay Medical,
      Inc., a Delaware corporation (IsoRay) entered into a Merger Agreement. Pursuant
      to the Merger Agreement, the Merger Subsidiary will be merged with and into
      IsoRay and IsoRay will become a wholly-owned subsidiary of the Company (Merger).
      In the Merger, the IsoRay stockholders are entitled to receive approximately
      82%
      of the then outstanding shares of common stock of the Company. The Merger
      Agreement is subject to the satisfaction of certain conditions, including the
      approval of the Merger by stockholders of IsoRay representing a majority of
      the
      outstanding shares of common stock of IsoRay entitled to vote, which occurred
      on
      June 28, 2005, the granting of certain "piggy-back" and demand registration
      rights to the purchasers of the certain debentures of IsoRay, Anthony Silverman
      and certain other affiliates of he Company, the agreements of the officers
      and
      directors of IsoRay to lock-up the shares of the Company received in the Merger
      for a period of one year from the closing of the Merger, the agreements of
      Thomas Scallen and Anthony Silverman to escrow certain shares of common stock
      of
      the Company, and the receipt by IsoRay from Anthony Silverman or his associates
      of One Million Dollars as the purchase price of certain securities of IsoRay
      before the closing.





On
      July
      28, 2005, the Merger contemplated by the Merger Agreement dated May 27, 2005
      was
      completed with the filing of a Certificate of Merger with the Secretary of
      State
      of Delaware, merging Century Park Transitory Subsidiary, Inc. into IsoRay
      Medical, Inc. As a result of the Merger and pursuant to the Merger Agreement,
      IsoRay Medical, Inc. became a wholly-owned subsidiary of the Company. The
      Company concurrently changed its name to IsoRay, Inc.





On
      July
      28, 2005, the Company issued approximately 7,739,478 post-reverse split shares
      of restricted, unregistered common stock for 100.0% of the issued and
      outstanding shares of IsoRay Medical, Inc. at a rate of 0.842362 share of the
      Company’s common stock for each share of IsoRay Medical, Inc. stock. Options and
      warrants to purchase common and preferred stock of IsoRay Medical, Inc. will
      also be converted at the same rate into options and warrants to purchase common
      and preferred stock of the Company. At the time of the Merger and following
      its
      recent 1:30 reverse stock split, the Company had 2,498,319 shares of common
      stock outstanding. Following the Merger, the Company has approximately
      10,237,797 shares of common and preferred stock outstanding. The total amount
      of
      shares outstanding, on a fully-diluted basis, post merger will be 13,880,822,
      which includes not only shares of common stock, but also shares of preferred
      stock, warrants, options and convertible debentures that could be exercised
      or
      converted into shares of common stock. Following the Merger, on a fully diluted
      basis, the shareholders of IsoRay Medical, Inc. own 82% of the Company’s
      outstanding securities.


13


**Item
      2 - Management’s Discussion and Analysis of Financial Condition and Results of
      Operations**





**(1)**  **Caution
      Regarding Forward-Looking Information**





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





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





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





**(2)**  **Results
      of Operations, Liquidity and Capital Resources**





Century
      Park Pictures Corporation (Company) was incorporated in 1983 in accordance
      with
      the Laws of the State of Minnesota.





The
      Company developed, produced and marketed various entertainment properties,
      including without limitation, the intellectual product(s) of entities engaged
      in
      the motion picture, television, and theatrical state productions, such as
      creative writers, producers and directors, for the motion picture, pay/cable
      and
      commercial television markets.





The
      Company has had no operations, assets or liabilities since its fiscal year
      ended
      September 30, 1999.





General
      and administrative expenses for the six months ended March 31, 2005 and 2004
      were approximately $6,034 and $12,400, respectively. Interest expense on the
      outstanding $-0- and $100,000 in notes payable was approximately $-0- and $2,107
      for each of the respective six month periods.





On
      July
      31, 2002, the Company’s Board of Directors and the respective noteholders
      approved the extension of the ultimate maturity date of the notes through
      December 3, 2003. In conjunction with the extension, the noteholders agreed
      to
      discontinue the accrual of interest subsequent to July 31, 2002. The effect
      of
      the discontinuance of interest accruals subsequent to July 31, 2002 will be
      charged to operations as a component of interest expense with an offset to
      contributed additional paid-in capital to recognize the economic effect of
      the
      suspended and forgiven interest on these notes in the respective future
      period.





On
      June
      25, 2003, noteholders aggregating $300,000 in outstanding principal and $231,900
      in accrued interest payable exercised their respective conversion rights and
      received an aggregate 53,106,900 shares of restricted, common stock upon
      conversion.





14


On
      December 3, 2003, the final ultimate maturity date, one remaining noteholder
      exercised his conversion rights and converted approximately $50,000 in principal
      and $36,758 in accrued interest payable into 8,675,800 shares of restricted,
      unregistered common stock.





On
      December 3, 2003, upon the failure to convert or post a claim for repayment,
      the
      Company’s Board of Directors, with the approval of legal counsel, voided the
      remaining outstanding unconverted notes payable of approximately $50,000 and
      the
      associated accrued interest of approximately $36,956 and recognized a one-time
      gain on the technical forgiveness of these debts.





On
      December 3, 2003, the Company issued 787,100 shares of restricted, unregistered
      common stock as compensation for fees associated with the conversion of the
      outstanding notes payable and accrued interest payable. This transaction was
      valued at approximately $7,871, which was equal to the “fair value” of the
      Company’s common stock on the conversion date. The Company relied upon Section
      4(2) of The Securities Act of 1933, as amended, for an exemption from
      registration of these shares and no underwriter was used in this
      transaction.





During
      the quarter ended March 31, 2005, the Company’s former Chief Executive Officer
      forgave approximately $304,500 in accrued salary for prior periods and this
      forgiveness was credited as “additional paid-in capital” to reflect the
      contribution effect of this action.





Net
      income (loss) for the six months ended March 31, 2005 and 2004, respectively,
      was approximately $(6,000) and $72,500, respectively. Earnings per share for
      the
      respective six month periods and quarters ended March 31, 2005 and 2004 was
      $0.00, $0.03, $0.00 and $0.00 on the weighted-average shares issued and
      outstanding.





The
      Company does not expect to generate any meaningful revenue or incur operating
      expenses for purposes other than fulfilling the obligations of a reporting
      company under the Securities Exchange Act of 1934 (Exchange Act).





At
      March
      31, 2005, September 30, 2004 and March 31, 2004, respectively, the Company
      had
      working capital of approximately $(93,000), $(392,600) and
      $(395,900).





Management
      intends to continue to restrict expenditures with respect to the future
      development of entertainment properties and has suspended the marketing of
      its
      completed properties due to the lack of working capital. The Company has two
      completed properties. The costs of development have been written off.
      Accordingly, the Company will incur little, if any, costs of marketing.
      Management believes these actions may contribute to the Company's future
      liquidity. The Company has no material commitments for capital expenditures
      as
      of March 31, 2005, or subsequent thereto, and anticipates no significant capital
      expenditures for future periods.





The
      Company intends to continue to seek out potential acquisitions. Since the
      Company has no available bank lines of credit, there are no assurances that
      the
      Company will be able to successfully identify any potential acquisitions or
      that, if identified, it will obtain financing under terms acceptable to the
      Company. Management presently considers an acquisition or a merger of the
      Company a viable alternative.





The
      Company has no operating activities, no cash on hand, no profit and operates
      a
      business plan with inherent risk. Because of these factors, our auditors have
      issued an audit opinion for the Company which includes a statement describing
      our going concern status. This means, in our auditor’s opinion, substantial
      doubt about our ability to continue as a going concern exists at the date of
      their opinion.





15


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





The
      Company anticipates offering future sales of equity securities. However, there
      is no assurance that the Company will be able to obtain additional funding
      through the sales of additional equity securities or, that such funding, if
      available, will be obtained on terms favorable to or affordable by the
      Company.





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





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





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





**Item
      3 - Controls and Procedures**





As
      required by Rule 13a-15 under the Exchange Act, within the 90 days prior to
      the
      filing date of this report, the Company carried out an evaluation of the
      effectiveness of the design and operation of the Company's disclosure controls
      and procedures. This evaluation was carried out under the supervision and with
      the participation of the Company's management, including the Company's
      President, Chief Executive and Financial Officer. Based upon that evaluation,
      the Company's President, Chief Executive and Financial Officer concluded that
      the Company's disclosure controls and procedures are effective. There have
      been
      no significant changes in the Company's internal controls or in other factors,
      which could significantly affect internal controls subsequent to the date the
      Company carried out its evaluation.





Disclosure
      controls and procedures are controls and other procedures that are designed
      to
      ensure that information required to be disclosed in Company reports filed or
      submitted under the Exchange Act is recorded, processed, summarized and
      reported, within the time periods specified in the Securities and Exchange
      Commission's rules and forms. Disclosure controls and procedures include,
      without limitation, controls and procedures designed to ensure that information
      required to be disclosed in Company reports filed under the Exchange Act is
      accumulated and communicated to management, including the Company's Chief
      Executive and Financial Officer as appropriate, to allow timely decisions
      regarding required disclosure.





**Part
      II - Other Information**





**Item
      1 - Legal Proceedings**





None





16


**Item
      2 - Recent Sales of Unregistered Securities and Use of
      Proceeds**





On
      or
      about May 2, 2005, the Company sold an aggregate 83,334 post-reverse split
      shares of unregistered, restricted common stock (2,500,000 pre-reverse split
      shares) for cash proceeds of approximately $85,000. The purchasing individuals
      are Andrew Eccelstone - 1,470,000 shares; Gary Boster - 882,000 shares and
      Philip and Stephanie Rogers - 148,000 shares. Mr. Rogers was the Company’s
      President. The Company relied upon Section 4(2) of The Securities Act of 1933,
      as amended, for an exemption from registration of these shares and no
      underwriter was used in this transaction.





The
      Company granted “piggy-back” registration rights to the holders of the shares of
      common stock which would entitle a holder to request that the Company register
      the common stock if the Company files a registration statement at any time
      prior
      to three years from the date the Company sold such shares of common stock.
      The
      Company has agreed to keep such registration statement current for up to 270
      days. The Company has agreed to pay all expenses associated with any
      registration of the common stock except any underwriter's commissions or fees
      or
      any fees of others employed by a selling shareholder, including attorneys'
      fees;
      which shall be the responsibility of the selling shareholder.





Contractually,
      not more than $50,000 of the gross proceeds could be used to either pay or
      repay
      accrued compensation to Thomas Scallen, the Company’s Chief Executive Officer or
      advances made by Mr. Scallen to support the Company’s operations.





**Item
      3 - Defaults on Senior Securities**





None





**Item
      4 - Submission of Matters to a Vote of Security Holders**





None





**Item
      5 - Other Information**





None


17


**Item
      6 - Exhibits**





Exhibits31.1
            Certification
                pursuant to Section 302 of Sarbanes-Oxley Act of 200231.2
            Certification
                pursuant to Section 302 of Sarbanes-Oxley Act of 2002.32.1
            Certification
                pursuant to Section 906 of Sarbanes-Oxley Act of
                2002.





**SIGNATURES**





In
      accordance with the requirements of the Exchange Act, the registrant caused
      this
      report to be signed on its behalf by the undersigned, thereunto duly
      authorized.




**IsoRay,
              Inc.**Dated:
              May
              12, 2006
            By:
            /s/
              Michael DunlopMichael
                Dunlop
              Chief
                Financial Officer





18