UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

[ x ]  QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the quarterly period ended: March 31, 2006

[    ]  TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE EXCHANGE ACT

                      For the transition period from    to

                         Commission file number 0-17232

                                  SORELL, INC.

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


                 NEVADA                              86-0914695
       (State or other jurisdiction of             (IRS Employer
                                                  Identification
       Incorporation or organization)                 Number)


                 Buk-ri 35, Nama-Myun, Yongin City, South Korea


                    (Address of principal executive offices)

                                 82-31-329-8700

                           (Issuer's telephone number)

                                 118 Howe Street

                             Victoria, B.C.  V8V 4K4

                           NETMEASURE TECHNOLOGY, INC.

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

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


<PAGE>

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

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the last practicable date:

29,539,900 shares of common stock, $0.001 par value, as of May 19, 2006.

Transitional Small Business Disclosure Format (check one): Yes [  ]  No  [X]
                                                                           -

<PAGE>

                          PART I FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

The accompanying unaudited condensed financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with the instructions for Form 10-QSB and Rule 10-01 of
Regulation S-X.  Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements.  In the opinion of management, all adjustments considered
necessary for a fair presentation have been included.  All such adjustments are
of a normal recurring nature.  Operating results for the three month periods
ended March 31, 2006 and 2005 are not necessarily indicative of the results that
may be expected for the year ending December 31, 2006.  For further information
refer to the financial statements and footnotes thereto included in  the
Company's Annual Financial Statements filed on Form 10-KSB filed with the
Securities and Exchange Commission.






















<PAGE>

                                  SORELL, INC.
                     (FORMERLY NETMEASURE TECHNOLOGY, INC.)
                        CONSOLIDATED FINANCIAL STATEMENTS
                      PERIODS ENDED MARCH 31, 2006 and 2005
                            (EXPRESSED IN US DOLLARS)
                                    Unaudited






                                    CONTENTS

Report of Independent Public Accounting Firm                F-1
Consolidated Balance Sheets                                 F-2
Consolidated Statements of Stockholders' Deficiency         F-3
Consolidated Statements of Operations                       F-4
Consolidated Statements of Cash Flows                       F-5
Notes to Consolidated Financial Statements                  F-6 - 18

<PAGE>

REPORT OF INDEPENDENT PUBLIC ACCOUNTING FIRM

To the Stockholders of
SORELL, INC.

     We  have  reviewed  the balance sheet of SORELL, INC. (the "Company") as at
March  31,  2006  and  2005, and the related statements of stockholders' equity,
operations  and  cash  flows  for  the  three-month  periods then ended.   These
interim financial statements are the responsibility of the Company's management.

     We  conducted  our  review  in  accordance with the standards of the Public
Company  Accounting  Oversight  Board  (United  States).  A  review  of  interim
financial information consists principally of applying analytical procedures and
making inquiries of persons responsible for financial and accounting matters. It
is  substantially  less  in  scope  than  an  audit conducted in accordance with
standards  of the Public Company Accounting Oversight Board (United States), the
objective  of  which  is  the  expression  of an opinion regarding the financial
statements  taken  as  a  whole. Accordingly, we do not express such an opinion.

     Based  on  our  review, we are not aware of any material modifications that
should be made to such interim financial statements for them to be 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 1 to the
financial  statements,  the  Company  has suffered recurring losses and negative
working  capital  from  operations  and  operates  in a country whose economy is
currently unstable, which raises substantial doubt about its ability to continue
as  a  going  concern.  Management's  plan  in  regard to these matters are also
described  in  Note  1.  The financial statements do not include any adjustments
that  might  result  from  the  outcome  of  this  uncertainty.

TORONTO,  CANADA     CHARTERED  ACCOUNTANTS

May 19, 2006

                                     F-1
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Consolidated Balance Sheets
March 31, 2006 and 2005
Unaudited


<TABLE>
<CAPTION>
<S>                                                    <C>           <C>
                                                      2006         2005
                                  ASSETS
CURRENT
Cash and cash equivalents (note 3)               $  1,655,079     $ 3,218,192
Accounts receivable (net of allowance for
doubtful accounts $1,900,668; 2005 -
1,065,958)                                          2,130,991       3,068,800
Inventory (note 4)                                  7,373,562       8,721,708
Loans receivable (note 5)                              39,719           2,660
Prepaid and sundry assets                             241,335         763,507
                                                -------------      -----------
                                                   11,440,686      15,774,867
LOANS RECEIVABLE                                            -          87,173
PROPERTIES AND EQUIPMENT (note 6)                   8,031,579       8,701,583
DEPOSITS                                              627,764         472,741
INVESTMENTS (note 7)                                   28,147          84,938
                                                -------------      -----------

                                                 $ 20,128,176     $25,121,302
                                                =============      ===========

                                 LIABILITIES
CURRENT
Accounts payable                                 $  8,298,453      $ 3,973,317
Loans payable - current (note 8)                   12,365,769       12,585,155
                                                -------------      -----------

                                                   20,664,222       16,558,472
ACCRUED SEVERANCE (note 10)                           617,362          570,847
LOANS PAYABLE (note 11)                             4,424,700        4,407,307
                                                -------------      -----------

                                                   25,706,284       21,536,626
                                                -------------      -----------

COMMITMENTS AND CONTINGENCIES-SEE NOTE 15 AND 16

                      STOCKHOLDERS' (DEFICIENCY) EQUITY

CAPITAL STOCK (note 12)                                29,540            5,390
PAID IN CAPITAL                                     4,717,972        5,026,033
ACCUMULATED OTHER
     COMPREHENSIVE INCOME                             476,409          765,983
DEFICIT (note 13)                                 (10,802,029)      (2,212,730)
                                                -------------      -----------

                                                   (5,578,108)       3,584,676
                                                -------------      -----------

                                                  $20,128,176      $25,121,302
                                                =============      ===========

</TABLE>

   (THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS)

                                     F-2
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Consolidated Statements of Stockholders' Deficiency
Three Months Ended March 31, 2006 and 2005
Unaudited

<TABLE>
<CAPTION>
<S>                         <C>           <C>               <C>               <C>            <C>                 <C>

                                                       Paid in           Accumulated                          Total
                                                       Capital in        Other            (Deficit)           Stockholders'
                         Number of     Capital         excess of         Comprehensive     Retained          (Deficiency)
                         Shares        Stock           Par Value         Income            Earnings           Equity
                         ---------     -----------     ---------------    -------------    ---------------    -----------------
Balance,
January 1, 2005          5,389,900     $     5,390     $     5,026,033    $     830,157    $     2,229,461     $     8,091,041
Unrealized loss on
   investment  (note 7)          -               -                   -           16,726                  -              16,726
Foreign exchange
   on translation                -               -                   -          (80,900)                 -             (80,900)
Net loss                         -               -                   -                -         (4,442,191)         (4,442,191)
                         ---------     -----------     ---------------    -------------    ---------------    -----------------

Balance, March 31,
   2005                  5,389,900     $     5,390     $     5,026,033    $     765,983   $     (2,212,730)    $     3,584,676
                         =========     ===========     ===============    =============    ================   =================

Balance,
January 1, 2006         29,539,900    $     29,540     $     4,717,972    $     621,603   $     (9,056,425)   $     (3,687,310)
Foreign exchange
   on translation                -               -                   -         (145,194)                 -            (145,194)
Net loss                         -               -                   -                -         (1,745,604)         (1,745,604)
                         ---------     -----------     ---------------    -------------    ---------------    -----------------

Balance, March 31,
   2006                 29,539,900    $     29,540     $     4,717,972    $     476,409  $     (10,802,029)   $     (5,578,108)
                         =========     ===========     ===============    =============    ================   =================

</TABLE>

   (THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS)

                                     F-3
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Consolidated Statements of Operations
Three Months Ended March 31, 2006 and 2005
Unaudited

<TABLE>
<CAPTION>
<S>                                          <C>   <C>           <C>          <C>           <C>
                                                                     2006                        2005
REVENUE
Manufacturing                                                    $2,309,613                 $10,453,336
Merchandise                                                         338,133                   1,107,478
Subcontracting                                                      193,536                     303,357
Other                                                               106,036                      33,009
                                                                 ----------                 ------------
                                                                  2,947,318                  11,897,180
                                                                 ----------                 ------------

COST OF SALES
Manufacturing                                                     2,922,522                  13,342,273
Merchandise                                                         458,668                   1,233,184
Subcontracting                                                      135,475                     184,971
                                                                 ----------                 ------------

                                                                  3,516,665                  14,760,428
                                                                 ----------                 ------------

GROSS LOSS                                                         (569,347)                 (2,863,248)
                                                                 ----------                 ------------

EXPENSES
Salaries, employee benefits, and
   retirement allowance                                             491,804                     505,482
Research and development                                            408,338                     195,658
Professional fees                                                   149,206                      92,695
Bad debts                                                            70,518                     712,575
Taxes and dues                                                       21,444                      28,624
Advertising, promotion, and
   entertainment                                                    121,879                      88,634
Freight                                                              43,588                      42,823
Travel                                                               64,266                      85,473
Utilities                                                            23,094                      29,235
Office and general                                                   15,569                      25,274
Rent                                                                  3,966                       3,284
Warranty (recoveries)                                              (181,008)                     55,674
Depreciation                                                         67,600                      80,281
                                                                 ----------                 ------------

                                                                  1,300,264                   1,945,712
                                                                 ----------                 ------------

OPERATING LOSS                                                   (1,869,611)                 (4,808,960)
                                                                 ----------                 ------------

OTHER (EXPENSES) INCOME
Financing fees                                                      (28,740)                    (52,340)
Gain from sale of securities                                        251,093                           -
Interest expense - net                                             (186,287)                   (134,174)
Foreign exchange gain                                                80,254                     103,452
Gain (loss) on disposition of other assets                            7,687                     (24,883)
                                                                 ----------                 ------------

                                                                    124,007                    (107,945)
                                                                 ----------                 ------------

LOSS BEFORE INCOME TAXES                                         (1,745,604)                 (4,916,905)
Income taxes expense - deferred                                           -                     474,714
                                                                 ----------                 ------------

NET LOSS                                                        $(1,745,604)                $(4,442,191)
                                                                 ===========                ============

BASIC LOSS PER SHARE                                            $     (0.06)                $     (0.19)
                                                                 ===========                ============

WEIGHTED AVERAGE NUMBER OF SHARES                                29,539,900                  23,305,000
                                                                 ===========                ============
</TABLE>

   (THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS)

                                     F-4
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Consolidated Statements of Cash Flows
Three Months Ended March 31, 2006 and 2005
Unaudited

<TABLE>
<CAPTION>
<S>                                               <C>   <C>           <C>
                                                           2006            2005

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                                $(1,745,604)  $(4,442,191)
Adjustments for:
Depreciation                                                284,136       357,957
(Gain) loss on disposition of property                       (7,687)       24,883
Change in non-cash working capital
Accounts receivable                                       2,458,715     1,049,518
Inventory                                                  (910,169)    3,493,816
Prepaid and sundry assets                                    13,145     1,494,801
Deposits                                                    (23,457)      (10,796)
Accounts payable                                           (266,879)     (310,269)
Accrued severance                                            41,972      (126,449)
Deferred taxes                                                    -      (474,714)
                                                        ------------  ------------
                                                           (155,828)    1,056,556
                                                        ------------  ------------

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment                             -      (146,725)
Investments                                                       -       (18,648)
                                                        ------------  ------------

                                                                  -      (165,373)
                                                        ------------  ------------

CASH FLOWS FROM FINANCING ACTIVITIES
Loans receivable                                             47,807         8,043
Loans payable                                              (138,412)     (899,826)
                                                        ------------  ------------

                                                            (90,605)     (891,783)
                                                        ------------  ------------

FOREIGN EXCHANGE ON CASH AND CASH EQUIVALENTS                64,339       (37,785)
                                                        ------------  ------------

NET DECREASE IN CASH AND CASH EQUIVALENTS                  (182,094)      (38,385)
CASH AND CASH EQUIVALENTS - BEGINNING OF  PERIOD          1,837,173     3,256,577
                                                        ------------  ------------

CASH AND CASH EQUIVALENTS - END OF PERIOD               $ 1,655,079   $ 3,218,192
                                                        ============  ============

INTEREST AND INCOME TAXES PAID:
Interest paid                                           $   199,250   $   148,193
                                                        ============  ============

Income taxes paid                                       $         -   $         -
                                                        ============  ============
</TABLE>


   (THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS)

                                     F-5
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited


1.      DESCRIPTION OF BUSINESS AND GOING CONCERN

Sorell,  Inc.  (formerly  NetMeasure  Technology,  Inc.)  ("the  Company")  was
incorporated  under the laws of the State of Nevada on May 4, 1998.  The company
has  no  business  activity  before  its  merger with S. Cam Co. Ltd. ("S.Cam").

On October 4, 2005, in accordance with a Share Exchange Agreement dated July 12,
2005,  S.Cam  entered  into  a  reverse-takeover  transaction  with the Company,
whereby  78.8%  of  all  the  outstanding shares of the S Cam Co. Ltd., a Korean
corporation,  were  exchanged  for  23,305,000 of the newly issued shares of the
Company.  As  a result of the transaction, the shareholders of S.Cam control 81%
of  the  Company.  While  the Company is the legal parent, S.Cam, as a result of
the  reverse-takeover,  became  the  parent  company  for  accounting  purposes.

S.Cam,  a  company operating in Namsa, Kyungki-Do, Korea, was founded on October
13,  1998  under  the  laws  of  the  Republic  of Korea to manufacture and sell
consumer  electronic  products  such  as  MP3  players  and  mobile  phones.

Since  2002,  the  S.Cam,  has  been  actively  investing in research to develop
consumer  electronic  products  such  as  MP3  players  under its own brand name
'Sorell'.  Revenue  from  Sorell products amounted to approximately 50% of total
revenues  of  2006  (2005  -  44.2%).

Going  Concern

The Company's consolidated financial statements are presented on a going concern
basis,  which  contemplates  the  realization  of  assets  and  satisfaction  of
liabilities  in  the  normal  course  of  business.  The Company has experienced
recurring  losses since inception that raise substantial doubt as to its ability
to  continue  as a going concern. For the periods ended March 31, 2006 and 2005,
the  Company  experienced  net  losses  of  $1,745,604  and $4,442,191 and has a
negative working capital of $9,223,536 and $783,605 for the quarters ended March
31,  2006  and  2005  respectively.

The  Company's  ability  to  continue  as a going concern is contingent upon its
ability  to  secure  additional  financing,  initiating  sale of its product and
attaining  profitable  operations.

Management  is  pursuing  various  sources  of  equity  financing in addition to
increasing  its  sales  base.  During  the year, the Company shifted its primary
focus  to  the  production  of  goods under its own brand name "Sorell".  During
2006,  the company entered into two major contracts for sales of its GPS and NFI
products to China and Europe for a total of $21.9 million.  Although the Company
has  plans  to  pursue  additional financing, there can be no assurance that the
Company  will  be  able  to secure financing when needed or obtain such on terms
satisfactory  to  the  Company,  if  at  all.

The  consolidated financial statements do not include any adjustments to reflect
the  possible  future effects on the recoverability and classification of assets
or  the  amounts  and  classification  of  liabilities  that may result from the
possible  inability  of  the  Company  to  continue  as  a  going  concern.

                                     F-6
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited




2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the Company are in accordance with generally accepted
accounting  principles  of  the  United  States  of  America, and their basis of
application  is  consistent.  Outlined  below  are  those  policies  considered
particularly  significant:

a)     Basis  of  Financial  Statement  Presentation

These  financial  statements  have  been  prepared in conformity with accounting
principles  generally  accepted  in  the  United  States  of  America  with  the
assumption that the Company will be able to realize its assets and discharge its
liabilities  in  the  normal  course  of  business.

b)     Basis  of  Consolidation

The acquisition of S.Cam, by the Company has been recorded as a recapitalization
of the Company, with the net assets of the Company and S.Cam, brought forward at
their historical basis. The intention of the management of S.Cam, was to acquire
the  Company as a shell company listed on Nasdaq.  Management does not intend to
pursue  the  business of the Company.  As such, accounting for the merger as the
recapitalization  of  the  Company  is  deemed  appropriate.

Minority  interest are recorded to the extent of their equity.  Losses in excess
of  minority  interest  equity capital are charged against the majority interest
and  will  be  reversed  when  the  losses  reverse.

c)     Unit  of  Measurement

The  US  Dollar  has  been  used  as  the unit of measurement in these financial
statements.

d)     Use  of  Estimates

Preparation  of  financial  statements  in accordance with accounting principles
generally  accepted  in the United States of America requires management to make
estimates  and  assumptions  that  affect  the amounts reported in the financial
statements and related notes to financial statements.  These estimates are based
on  management's  best  knowledge  of current events and actions the Company may
undertake  in  the  future. Actual results may ultimately differ from estimates,
although  management  does  not  believe such changes will materially affect the
financial  statements  in  any  individual  year.

                                     F-7
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited




2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

e)     Revenue  Recognition

The Company generates revenues from sales of manufactured goods and merchandise,
as  well  as  subcontracted  processing  and  assembly  of  goods.

Revenues  from  products  sales and processing are recognized in accordance with
Staff  Accounting Bulletin No. 101 "Revenue Recognition in Financial Statements"
("SAB No. 101") when delivery has occurred provided there is persuasive evidence
of  an agreement, the fee is fixed or determinable and collection of the related
receivable  is  probable.

f)     Provision  for  Warranty

The  Company  provides  a provision for estimated warranty costs relating to the
Company's  brand  'Sorell'  products  during  the  warranty  period of one year.
Estimated  costs  of product warranties are charged to current operations at the
time  of sale and are included in the balance sheet as part of accounts payable.

g)     Currency  Translation

     The  Company's functional currency is Korean won.  Adjustments to translate
these  statements  into  U.S.  dollars at the balance sheet date are recorded in
other  comprehensive  income.

     Foreign  currency transactions of the Korean operation have been translated
to  Korean  Won  at the rate prevailing at the time of the transaction.  Balance
sheets  items recorded in foreign currencies have been translated to Korean Wons
at  the  year  end  rate.  Realized  foreign exchange gains and losses have been
charged  to  income  in  the  year.

h)     Cash  and  Equivalents

Highly liquid investments with maturities of three months or less when purchased
are  considered  cash  equivalents and recorded at cost, which approximates fair
value.

i)     Loss  per  Common  Share

The  Company  calculates net loss per share based on SFAS No. 128, "Earnings Per
Share".  Basic  loss  per share is computed by dividing net loss attributable to
the  common  stockholders  by  the  weighted  average  number  of  common shares
outstanding.  Fully diluted loss per share is computed similar to basic loss per
share  except  that  the  denominator  is  increased  to  include  the number of
additional  common  shares  that  would  have  been outstanding if the potential
common  shares had been issued and if the additional common shares were dilutive

                                     F-8
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited




2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

j)     Comprehensive  Income

The Company adopted SFAS No. 130, "Reporting Comprehensive Income". SFAS No. 130
establishes the standards for reporting and presentation of comprehensive income
and  its components in a full set of financial statements.  Comprehensive income
is  presented  in  the  statements of stockholders' deficit, and consists of net
income  and  unrealized  gains  (losses)  on  available  for  sale  marketable
securities; foreign currency translation adjustments and changes in market value
of  future  contracts  that  qualify as a hedge; and negative equity adjustments
recognized  in  accordance  with  SFAS  No.  87.  SFAS  No.  130  requires  only
additional  disclosures  in  the  financial  statements  and does not affect the
Company's  financial  position  or  results  of  operations.

k)     Properties  and  Equipment

Properties and equipment are stated at cost.  Major renewals and betterments are
capitalized  and expenditures for repairs and maintenance are charges to expense
as  incurred.  Depreciation  is  computed  using the Undernoted annual rates and
methods:

Buildings                       40  years     Straight  line
Leasehold  improvements          2  years     Straight  line
Machinery                        6  years     Declining  balance
Tools  and  equipment            6  years     Declining  balance
Vehicles                         6  years     Declining  balance
Furniture  and  fixtures         6  years     Declining  balance

l)     Inventories

Inventories  are  stated  at  the  lower  of  cost  or net realizable value. Net
realizable value is determined by deducting selling expenses from selling price.

The cost of inventories is determined on the weighted average method, except for
materials-in-transit  for  which  the  specific  identification  method is used.

m)     Investments

Investments  in  available-for-sale  securities are being recorded in accordance
with FAS-115 "Accounting for Certain Investments in Debt and Equity Securities".
Equity  securities  that  are not held principally for the purpose of selling in
the  near  term  are reported at fair market value with unrealized holding gains
and  losses  excluded  from  earnings  and  reported  as a separate component of
stockholders'  equity.

                                     F-9
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited




2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

n)     Financial  Instruments

Fair  values  of  cash  equivalents,  short-term  and  long-term investments and
short-term  debt approximate cost.  The estimated fair values of other financial
instruments,  including  debt, equity and risk management instruments, have been
determined  using  market  information  and  valuation  methodologies, primarily
discounted cash flow analysis.  These estimates require considerable judgment in
interpreting market data, and changes in assumptions or estimation methods could
significantly  affect  the  fair  value  estimates.

o)     Recent  Accounting  Pronouncements

In  November  2004, the FASB issued SFAS No. 151, "Inventory Costs, an amendment
of  ARB  No.  43,  Chapter 4". This statement amends the guidance in ARB No. 43,
Chapter 4, "Inventory Pricing" to clarify the accounting for abnormal amounts of
idle  facility expense, freight, handling costs, and wasted material (spoilage).
SFAS  No. 151 requires that those items be recognized as current period charges.
In  addition,  this  statement  requires  that  allocation  of  fixed production
overheads  to  costs  of  conversion  be  based  upon the normal capacity of the
production  facilities.  The  provisions  of  SFAS  No.  151  are  effective for
inventory  costs  incurred in fiscal years beginning after June 15, 2005.  We do
not  expect the implementation of Statement No. 154 to have a significant impact
on  our  consolidated  financial  statements.

In  May  2005,  the  FASB issued Statement No, 154, Accounting Changes and Error
Corrections  -  A  Replacement  of  APB  Opinion No. 20 and FASB Statement No. 3
(Statement  No.  154).  Statement  No.  154  changes  the  requirements  for the
accounting for and reporting of a change in accounting principle.  Statement No.
154  requires retrospective application of any change in accounting principle to
prior  periods'  financial  statements.  Statement  No. 154 is effective for the
first  fiscal  period  beginning  after December 15, 2005.  We do not expect the
implementation  of  Statement  No.  154  to  have  a  significant  impact on our
consolidated  financial  statements.

3.     CASH AND CASH EQUIVALENTS

The Company has provided term deposits of $761,460 (2005 - $492,500) as security
for  bank  loans as described in note 8.  The loans will mature on May 28, 2006,
June  6,  2006  and  September  21, 2006 respectively. As at March 31, 2006, the
total  loans  outstanding  were  $1,865,421  (2005  -  $1,260,735).

The Company has provided $50,000 (2005 - $50,000) as a guarantee for the royalty
agreement  as  described  in  note  15b.

                                      F-10
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited



4.     INVENTORY
Inventory  includes  the  following:
                                                  2006           2005
Finished goods (net of inventory allowance
    of $599,783 (2005-$707,719)            $  1,028,708   $  1,547,649
Work in progress (net of inventory
    allowance of $110,393 (2005-$1,037,374)   1,013,849      1,283,695
Raw materials (net of inventory
   allowance of $592,537 (2005-$620,508)      5,331,005      5,890,364
                                        ---------------  -------------
                                        $     7,373,562  $   8,721,708
                                        ===============  =============


5.     LOANS RECEIVABLE

The loans receivable from the Company's employees are interest bearing at 6% per
annum  and  mature  within  2006.

6.     PROPERTIES AND EQUIPMENT

Properties  and  equipment  are  comprised  as  follows:



<TABLE>
<CAPTION>
<S>                                <C>              <C>                       <C>          <C>
                                                     2006                                  2005
                                                ACCUMULATED                              Accumulated
                                  COST           DEPRECIATION                 Cost      Depreciation
                              -------------       ----------              -----------  ----------

Land                          $   1,305,587       $        -              $ 1,249,759  $        -
Buildings                         4,614,525          219,895                4,417,208     100,028
Machinery                         6,795,043        5,398,136                6,380,377   4,375,319
Tools and equipment                 958,343          641,524                  809,160     466,371
Vehicles                            105,332           72,550                  100,828      47,019
Furniture and fixtures            1,727,945        1,143,091                1,503,976     770,988
                              -------------       ----------              -----------  ----------
                              $  15,506,775       $7,475,196              $14,461,308  $5,759,725
                              -------------       ----------              -----------  ----------

Net carrying amount                               $8,031,579                           $8,701,583
                                                  ----------                           ----------

</TABLE>

The  land and buildings have been pledged as security for a short term bank loan
as  described  in  note  8  and  a  long term bank loan as described in note 11.

                                      F-11
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited

7.     INVESTMENTS AVAILABLE FOR SALE

                                           2006                   2005

Ein View Co. Ltd (15.4% ownership)     $     22,724          $     79,747
Government Bonds                              5,423                 5,191
                                       ------------          ------------
                                       $     28,147          $     84,938
                                       ============          ============

Ein  View  Co.  Ltd is a private Korean company which manufactures camera parts.

As  the  investee  has  recurring  losses,  the  Company  has  written  down the
investment  from  carrying value to the Company's share of the net book value of
the investee (as at December 31, 2005 and 2004). The unrealized loss was charged
to  stockholder's  equity.  No  revaluation  has been done at the quarters ended
March  31,  2006  and  2005.

8.     LOANS PAYABLE - CURRENT

<TABLE>
<CAPTION>
<S>           <C>                     <C>                <C>                <C>             <C>
        BANK NAME                   INTEREST       MATURITY DATE           2005            2004
-------------------------------  -------------   --------------     -------------      ------------
Industrial Bank of Korea         5.70%           April 26 to May 28       823,200           525,005
                                                 2006
The Export-Import Bank of Korea  Libor + 1.17%   May 18, 2006           1,955,100         2,028,480
City Bank                        5.95%           May 28, 2006           3,925,635         4,432,500
Shinhan Bank                     5.60% to 6.5%   April 5 to June 30       669,195         1,329,306
                                                 2006
Korea Exchange Bank              5.67%           April 12 to June 28    1,594,911         1,574,777
                                                 2006
Hana Bank                        7.64%           September 21, 2006       411,600           985,000
Hana Bank . . . . . . . . . . .  6.58% to 7.01%  November 6, 2006         358,965           472,734
Jo Hung Bank                     6.00%           June 6, 2006           1,197,756                 -
Letters of Credit                                                       1,429,407         1,237,353
                                                                    -------------       -----------
                                                                    $  12,365,769       $12,585,155
                                                                    =============       ===========
</TABLE>

                                      F-12
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited

8.     LOANS PAYABLE - CURRENT (cont'd)

The  current  loans  are  payable  monthly,  interest  only,  and are secured as
follows;

The  Export - Import Bank of Korea loan of $1,955,100 is guaranteed by the Korea
Technology  Credit  Guarantee  Fund  up  to  $1,003,275.

The  City  Bank  loan  of $3,925,635 is guaranteed by the Korea Credit Guarantee
Fund  up  to $2,893,548 and the balance is secured by a term deposit of $514,500
as  described  in  note  3.

The  Shinhan  Bank loan of $669,195 is guaranteed by the Korea Technology Credit
Guarantee  Fund  up  to  $760,946.

The Korea Exchange Bank loan of $1,594,911 is guaranteed by the Korea Technology
Credit  Guarantee  Fund  up  to  $1,399,440.

The Hana Bank loan of $411,600 is guaranteed by a second charge of the company's
land  and building of upto $802,620 as described in note 6 with a carrying value
of  $5,700,217.

The  Hana  Bank  loan of $358,965 is guaranteed by a term deposit of $102,980 as
described  in  note  3.

The  Jo Hung Bank loan of $1,197,756 is guaranteed by a term deposit of $144,060
as  described  in  note  3.

Letters  of  Credit  with  Korea Exchange Bank is guaranteed by the Korea Credit
Guaranteed  Fund  up  to  $1,049,580.

The  Industrial  Bank  of  Korea  loan  of  $823,200  is  unsecured.

9.     INCOME TAXES

The  Company accounts for income taxes pursuant to SFAS No. 109, "Accounting for
Income  Taxes".   This  Standard  prescribes  the  use  of  the liability method
whereby  deferred  tax asset and liability account balances are determined based
on  differences  between  financial  reporting  and  tax  bases  of  assets  and
liabilities  and are measured using the enacted tax rates. The effects of future
changes  in  tax  laws or rates are not anticipated.  Corporate income tax rates
applicable  to the Korean subsidiary in 2006 and 2005 are 16.5% of the first 100
million  Korean  Won  ($84,000) of taxable income and 29.7 percent of the excess
which  was  amended  to  27.5% effective January 1, 2005, in accordance with the
Corporate  Income  Tax  Law  enacted  in 2004.  The company provided a valuation
allowance  equal to the deferred tax amounts resulting from the tax losses.  Tax
losses  from  the  Korean  subsidiary  can  be carried forward for five years to
offset  future  taxable  income.  Deferred income taxes were calculated based on
the  lower  enacted  rate  of  16.5%.  The utilitization of the losses expire in
2010.

                                      F-13
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited



9.     INCOME TAXES  (cont'd)

Under  SFAS  No. 109 income taxes are recognized for the following: a) amount of
tax payable for the current year, and b) deferred tax liabilities and assets for
future  tax  consequences of events that have been recognized differently in the
financial statements than for tax purposes.  The Company has deferred income tax
assets arising from research and development expenses.  For accounting purposes,
these  amounts are expenses when incurred.  Under Korean tax laws, these amounts
are  deferred  and  amortized  on  a  straight-line  basis  over  5  years.
The  Company  has  deferred  income  tax  liabilities  as  follows:

<TABLE>
<CAPTION>
<S>                                                             <C>                       <C>

                                                               2006                       2005
Deferred income tax liabilities:
      Research and development expenses claimed
      in excess of accounting for tax purposes            $   501,545                $ 464,171
Timing differences:
     Allowance for warranty provision                         (45,145)                  (9,827)
     Allowance for severance accrual                         (156,290)                (171,696)
     Allowance for doubtful accounts receivable              (313,610)                (175,883)
     Inventory provision                                     (228,086)                (219,157)
     Other miscellaneous timing differences                   (64,722)                 115,464
     Net operating loss carryforwards                      (1,643,912)                (459,529)
                                                         -------------               ----------
                                                           (1,950,220)                (456,457)

Valuation allowance for deferred income tax assets          1,950,220                  456,457
                                                         -------------               ----------

                                                          $         -                $       -
                                                         =============               ==========

</TABLE>


10.     RETIREMENT AND SEVERANCE BENEFITS

The  Company's  liability for severance pay is calculated pursuant to applicable
labour  laws  in  Korea.  Severance  payment  will be the monthly average of the
three  most  recent  months' salary of the employees multiplied by the number of
years  of  employment  as  of the balance sheet date for all employees.  For the
chief  executive  officer  and the directors, the severance pay is two times and
one  and a half times the monthly average respectively.  The Company's liability
is  fully accrued and reduced by monthly deposits into a severance pay fund with
an  insurance  company.



                                      F-14
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited



11.     LOANS PAYABLE - LONG TERM

     BANK NAME              INTEREST        2005        2004
------------------------  ------------  ------------  ----------
Industrial Bank of Korea  3.5% to 4.4%    $4,424,700   4,235,500
Hana Bank. . . . . . . .            0%             -     171,807
                                          ----------   ---------
                                        $  4,424,700  $4,407,307
                                        ============  ==========


The  Industrial Bank of Korea loans are payable quarterly, interest only for the
first three years of the term. Principal and interest will be payable quarterly,
commencing in 2007, for the balance of the term. The loans will mature March and
May of 2012. The loans are guaranteed by a first charge on the land and building
as  described  in  note  6  with  a  carrying  value  of  $5,700,217.

Hana  Bank loan was payable quarterly, interest only, and matured on November 6,
2005.  The  loan  was  guaranteed  by  Korea  Development  Corporation.

Principal  repayments  of  long-term  debt  is  comprised  as  follows:

       2007     $    442,439
       2008          884,940
       2009          884,940
       2010          884,940
       2011          884,940
       2012          442,501
             ---------------
             $     4,424,700
             ===============


                                      F-15
<PAGE>



SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited

12.     CAPITAL STOCK

Authorized:
     100,000,000 common shares, par value $0.001
                                                         2006        2005
Issued:
     29,539,900 common shares (2004 5,389,900)     $   29,540    $  5,390
                                                   ----------    --------

In  accordance  with a share exchange agreement dated July 12, 2005, the company
issued  23,305,000 common shares on October 4, 2005 to acquire 78.8% interest in
S.Cam.  As  a result of the transaction the shareholders of S.Cam control 81% of
the  company.

In  October  2005  the  company  issued  845,000  for  services  at  $42,250.

Stock Warrants and Options

In  accordance with the bylaw, the Korean subsidiary may issue convertible bonds
up  to $9,751,000 and bonds with stock warrants up to $9,751,000, to individuals
or  companies other than shareholders. As of March 31, 2006, no bonds with stock
warrants  or  convertible  bonds  have  been  issued.

In  accordance  with the bylaw, the Korean subsidiary may grant stock options to
its  directors  and  employees  up  to  10% of its shares in accordance with the
special  resolution of shareholders' meeting (board of directors may grant up to
3%  without  the  special  resolution of shareholders' meeting). As of March 31,
2006,  no  stock  options  have  been  granted.

13.     RETAINED EARNINGS

Pursuant  to  the Korean tax laws, the Company is allowed to claim the amount of
retained  earnings  appropriated  for  reserves  for research and human resource
development  as  deductions  in  its  income tax return.  These reserves are not
available  for the payment of dividends until used for the specified purposes or
reversed.  However, the reserves which are not deducted in its income tax return
are  available  for  the  payment  of  dividends.

The  Commercial  Code  of  the  Republic  of  Korea  requires  the  Company  to
appropriate,  as  a  legal  reserve, an amount equal to a minimum of 10% of cash
dividends  paid  until such reserve equals 50% of its issued capital stock.  The
reserve  is  not  available  for  the  payment  of  cash  dividends,  but may be
transferred to capital stock or used to reduce accumulated deficit, if any, with
the  ratification  by  the  Company's  majority  shareholders.

Included  in  retained  earnings are reserves for $2,817,431 (2005 - $2,817,431)
appropriated  for  tax  purposes  and $46,829 (2005 - $46,829) appropriated as a
legal  reserve  regarding  cash  dividend.


                                      F-16
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited

14.     MAJOR CUSTOMERS

During  the  three  months  ended  March  31,  2005, the Company had three major
customers  which accounted for 34% of the total revenue. During the three months
ended  March  31,  2006, the Company had one customer which accounted for 30% of
the  total  revenue.

15.     COMMITMENTS

a)     The  Company  is  committed  to  lease obligations of its head office and
employee  residences,  with  varying  expiring  dates from September to November
2006.  Future  minimum  annual  payments  (exclusive  of  taxes,  insurance  and
maintenance  costs)  under  these  leases  are  as  follows:

2006     $     42,536

b)     The  company  has  several  licensing agreements for technologies that it
acquired.  The  agreements  require the Company to pay royalties in various flat
and  variable  rates.  The  terms  of  these  agreements  range from one year to
indefinite  periods.  During  the  quarter,  the  Company incurred approximately
$10,249  of  royalty  fees.

16.     CONTINGENT LIABILITIES

a)     The  company  has  been sued by 3 companies for damages for approximately
$2.4 million.  In each case, S.Cam has filed a counter claim.  As at the quarter
end,  the  outcome  of  the  lawsuits  can  not  be  reasonably  determined.

b)     The  Company  has entered into forward contracts maturing from April 2006
to  September  2006  to buy $100,000 with Korean won at a price of 1,022 won per
dollar  and  to  sell $200,000 for Korean won at a price of 1,047 won per dollar
each  month.

                                      F-17
<PAGE>

SORELL, INC.
(FORMERLY NETMEASURE TECHNOLOGY, INC.)
Notes to Financial Statements
March 31, 2006 and 2005
Unaudited



17.     SUBSEQUENT EVENTS

a)     In  September  2005,  the  company  entered  into a sales contract with a
German  company  for  100,000  units  of  its  NF-1 product.  Total value of the
contract  was  $11,000,000.  The  delivery  will  take place in 2006. The profit
margin  from  this  contract  is  expected  to  be  approximately  $1.1 million.

b)     In  February  2006,  the  company  entered  into  a sales contract with a
Chinese  consumer  electronics  company  for  50,000  units  of its NF-1 and GPS
products.  Total  value  of  the contract was $10.9 million.  Delivery will take
place  in  2006,  commencing  April.  The  profit  margin  from this contract is
expected  to  be  approximately  $1.1  million.

                                      F-18
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

THE  FOLLOWING  INFORMATION  SHOULD BE READ IN CONJUNCTION WITH THE CONSOLIDATED
FINANCIAL  STATEMENTS  OF SORELL, INC. AND THE NOTES THERETO APPEARING ELSEWHERE
IN THIS FILING.  STATEMENTS IN THIS MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
OF OPERATION AND ELSEWHERE IN THIS FILING ON FORM 10-QSB THAT ARE NOT STATEMENTS
OF  HISTORICAL  OR  CURRENT  FACT  CONSTITUTE  "FORWARD-LOOKING  STATEMENTS."

GENERAL OVERVIEW
----------------

Sorell, Inc. ("Sorell" or "the Company") is in the business of manufacturing,
research and development and sales of consumer electronics.  Sorell's product
line includes mobile phones, MP3 players, MP3 CD Players, Portable Media Players
("PMPs"), mobile cameras and other devices.

Sorrell was established in October 1998 as a spin-off of the DVS production
department from Samsung Electronics.  This unit, which was responsible for
producing Samsung camcorders, was born again as S-CAM, which was responsible for
manufacturing Samsung Electronics products as an Electronics Manufacturing
Services ("EMS") provider.

Since 2002, the Company through it's operating subsidiary S-Cam Co., Ltd. has
been actively investing in  research to develop consumer electronic products
such as MP3 players under its own brand name "Sorell".  Revenue from Sorell
brand products has amounted to approximately 50% of total revenues for the first
quarter of 2006 (2005 was 44.2%).

GOING CONCERN
-------------

The Company's consolidated financial statements are presented on a going concern
basis, which contemplates the realization of assets and satisfaction of
liabilities in the ordinary course of business.  The Company has experienced
recurring losses since inception that raise substantial doubt as to its ability
to continue as a going concern.  For the periods ended March 31, 2006 and 2005,
the Company experienced net losses of $1,745,604 and $4,442,191, respectively,
and has a negative working capital of $9,223,536 and $783,605 for the quarters
ended March 31, 2006 and 2005, respectively.

The Company's ability to continue as a going concern is contingent upon its
ability to secure additional financing, continuing sales of its products and
attaining profitable operations.


                                        1
<PAGE>

Management of the Company is pursuing various sources of equity financing in
addition to increasing its sales base.  During the year, the Company shifted its
primary focus to the production of goods under its own brand name "Sorell."
During the first quarter of 2006, the company entered into two major contracts
for sales of its GPS and NF1 products to China and Europe for a total of $21.9
million.  Although the Company has plans to pursue additional financing, there
can be no assurance that the Company will be able to secure financing when
needed or obtain such on terms satisfactory to the Company, if at all.

CRITICAL ACCOUNTING POLICIES
----------------------------

The accounting policies of the Company are in accordance with generally accepted
accounting principles of the United States of America, and their basis of
application is consistent.  The following are policies the Company considers
particularly significant:

Basis of Financial Statement Presentation

     The Company's financial statements have been prepared in conformity with
accounting principles generally accepted in the United States with the
assumption that the Company will be able to realize its assets and discharge its
liabilities in the normal course of business.

Basis of Consolidation

     The acquisition of S-Cam Co., Ltd. by the Company has been recorded as a
recapitalization of the Company, with the net assets of the Company and S-Cam
brought forward at their historical basis.  The intention of management of S-Cam
was to acquire the Company as a shell company listed on the Over-the-Counter
Bulletin Board.  Management does not intend to pursue the business of
Netmeasure.  As such, it is appropriate to account for the merger as the
recapitalization of the Company.

     Minority interests are recorded to the extent of their equity.  Losses in
excess of minority interest equity capital are charged against the majority
interest and will be reversed when the losses reverse.

Unit of Measurement

     The Company uses the US Dollar as the unit of measurement in the Company's
financial statements.


                                        2
<PAGE>

Use of Estimates

     Preparation of financial statements in accordance with accounting
principles generally accepted in the United States requires management to make
estimates and assumptions that affect the amounts reported in the financials
statements and related notes to the financial statements.  These estimates are
based on management's best knowledge of current events and actions of the
Company may undertake in the future.  Actual results may ultimately differ from
estimates, although management does not believe such changes will materially
affect the financial statements in any individual year.

Revenue Recognition

     The Company generates revenues from sales of manufactured goods and
merchandise, as well as subcontracted processing and assembly of goods.

     Revenues from products sales and processing are recognized, in accordance
with Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial
Statements" ("SAB No. 101"), when delivery has occurred provided there is
persuasive evidence of an agreement, the fee is fixed or determinable and
collection of the related receivable is probable.

Provision for Warranty

     The Company accounts for estimated warranty costs relating to the Company's
"Sorell" brand products during the warranty period of one year.  Estimated costs
of product warrants are charged to current operations at the time of sale and
are included in the balance sheet as part of accounts payable.

Currency Translation

     The Company's functional currency is Korean Won.  Adjustments to translate
these statements into U.S. dollars at the balance sheet date are recorded in
other comprehensive income.

     Foreign currency transactions of the Korean operation have been translated
to Korean Won at the rate prevailing at the time of the transaction.  Balance
sheets items recorded in foreign currencies have been translated to Korean Won
at the year end rate.  Realized foreign exchange gains and losses have been
charged to income in the year realized.

Cash and Equivalents

     Highly liquid investments with maturities of three months or less when
purchased are considered cash equivalents and recorded at cost, which
approximates fair value.


                                        3
<PAGE>

Loss per Common Share

     The Company calculates net loss per share based on SFAS No. 128, "Earnings
Per Share."  Basic loss per share is computed by dividing net loss attributable
to the common stockholders by the weighted average number of common shares
outstanding.  Fully diluted loss per share is computed similar to basic loss per
share except that the denominator is increased to include the number of
additional common shares that would have been outstanding if the potential
common shares had been issued and if the additional common shares were dilutive.

Comprehensive Income

     The Company has adopted SFAS No. 130, "Reporting Comprehensive Income."
SFAS No. 130 establishes the standards for reporting and presentation of
comprehensive income and its components in a full set of financial statements.
Comprehensive income is presented in the statements of stockholders' deficit,
and consists of net income and unrealized gains (losses) on:
available-for-sale, marketable securities; foreign currency translation
adjustments and changes in market value of future contracts that qualify as a
hedge; and negative equity adjustments recognized in accordance with SFAS No.
87.  SFAS No. 130 requires only additional disclosures in the financial
statements and does not affect the company's financial position or results of
operations.

Properties and Equipment

     Properties and equipment are stated at cost.   We capitalize major renewals
and betterments, and expense the costs of repairs and maintenance as they are
incurred.  We compute depreciation according to the following recovery periods
and depreciation methods:

     Buildings                    40 years          Straight line
     Leasehold improvements        2 years          Straight line
     Machinery                     6 years          Declining balance
     Tools and equipment           6 years          Declining balance
     Vehicles                      6 years          Declining balance
     Furniture and fixtures        6 years          Declining balance

Inventories

     Inventories are stated at the lower of cost or net realizable value.  Net
realizable value is selling price minus selling expenses.

     The cost of inventories is determined on the weighted average method,
except for materials-in-transit for which the specific identification method is
used.


                                        4
<PAGE>

Investments

     Investments in available-for-sale securities are recorded in accordance
with SFAS No. 115, "Accounting for Certain Investments in Debt and Equity
Securities".  Equity securities that are not held principally for the purpose of
selling in the near term are reported at fair market value with unrealized
holding gains and losses excluded from earnings and reported as a separate
component of stockholders' equity.

Financial Instruments

     The fair values of cash equivalents, short-term and long-term investments,
and short-term debt are their approximate costs.  The estimated fair values of
other financial instruments, including debt, equity and risk management
instruments, have been determined using market information and valuation
methodologies, primarily discounted cash flow analysis.  These estimates require
considerable judgment in interpreting market data, and changes in assumptions or
estimation methods could significantly affect the fair value estimates.

Recent Accounting Pronouncements

     In November 2004, the FASB issued SFAS No. 151, "Inventory Costs - an
amendment of ARB No. 43, Chapter 4" (SFAS No. 151).  This statement amends the
guidance in ARB No. 43, Chapter 4, "Inventory Pricing," to clarify the
accounting for abnormal amounts of idle facility expense, freight, handling
costs, and wasted material (spoilage).  SFAS No. 151 requires that those items
be recognized as current-period charges.  In addition, this Statement requires
that allocation of fixed production overhead to the costs of conversion be based
on the normal capacity of the production facilities. The provisions of SFAS No.
151 are effective for inventory costs incurred in fiscal years beginning after
June 15, 2005.  We do not expect SFAS No. 151 to have a significant impact on
our financial statements.

     In May 2005, the FASB issued Statement No. 154, Accounting Changes and
Error Corrections - A Replacement of APB Opinion No. 20 and FASB Statement No. 3
(SFAS No. 154).  SFAS No. 154 changes the requirements for the accounting for
and reporting of a change in accounting principle.  It requires retrospective
application of any change in accounting principle to prior periods' financial
statements.  SFAS No. 154 is effective for the first fiscal period beginning
after December 15, 2005.  We do not expect SFAS No. 154 to have a significant
impact on our consolidated financial statements.

RESULTS OF OPERATIONS
---------------------

Three months ended March 31, 2006 compared to three months ended March 31, 2005

     Total revenues for the company in the quarter ended March 31, 2006 were
$2.947,318 compared to $11,897,180 for the quarter ended March 31, 2005.  For
the quarter ended March 31, 2006, we reported a net loss of $1,745,604 compared
to a net loss in the comparable quarter of 2005 of $4,442,191.

                                        5
<PAGE>

     The reduction in revenues for the quarter is directly attributable to the
continuation of our planned reduction of the company's EMS business, as well as
the first quarter historically reflecting reduced product demand.  In addition,
we had been completing the preparation and production of our new product line
which we released in April 2006.  Consequently sales from that product line are
expected to be realized in subsequent quarters.

     Our gross profit margin ratio improved from -24.1% in the quarter ended
March 31, 2005 to -19.3% for the quarter ended March 31, 2006.  The improvement
in the company's profit margin reflects the effects of overhead reductions as a
result of the company's move out of the EMS business and into the
branded-product business.  The company also attributes improvement to specific
steps it took to reduce costs in its general business.  In addition, the company
substantially reduced bad debt expense by more than 90% from the elimination of
its EMS business (from $712,575 in the quarter ended March 31, 2005 to $70,518
in the quarter ended March 31, 2006).  The Company also substantially reduced
the overall cost of warranties.

     Cost of sales decreased by $11,243,763 or approximately 76% to $3,516,665in
the three months ended March 31, 2006 from $14,760,428 in the three months ended
March 31, 2005.  The decrease was primarily due to the substantial reduction of
our EMS business as well as decreased product demand during the quarter as a
result of seasonal fluctuations.  As a percentage of revenue, cost of sales
decreased to 119% from approximately 124%, resulting in a gross margin of
-19.32% as compared to -24.06% for the three months ended March 31, 2006 and
2005,  respectively.

     Our operating expenses decreased by $645,448 or approximately 33% to
$1,300,264 in the three months ended March 31, 2006 from $1,945,712 in the three
months ended March 31, 2005 primarily to the Company's reduction in revenues
attributable to our change in the EMS business.

     Our Net loss decreased $2,696,587 to $1,745,604 or a loss of $0.06 loss per
common  share  for  the  three  months  ended March 31, 2006, from a net loss of
$4,442,191, or $0.19 loss per common share, for the three months ended March 31,
2005.  This substantial reduction in loss per share is attributable to our focus
on  changing  on business to a more profitable overall operation through sale of
our  own  branded  products.

PROSPECTS FOR SORELL DURING THE SECOND QUARTER OF 2006

     Our release in April 2006 of the DN-10 Portable Digital Navigation Players
has received positive response from Korean domestic customers and we have
already entered into one contract with projected sales of $9 million with a
distributor.


                                        6
<PAGE>

     In Korea, the company successfully completed sales on the Hyundai home
shopping network on two separate occasions, and we are currently considering
plans for as many as two broadcasts per week.  Although future results cannot be
assured, that effort could result in significant sales of our most recently
released products.  We also plan to do additional home shopping sales through CJ
and GS home shopping channels, two additional home shopping channels, in Korea
during May.

     The NF-1 model introduction outside of Korea is expected to commence in
May.  Contracts with Anubis in Europe for 100,000 units and Zarva in China for
50,000 units have already been executed, and we received the first order for the
NF-1 model from Audiovox in the United States.  Delivery of these units should
commence in mid-May.

     The company believes that during the second quarter sales of our digital
convergence products such as the DN-10 and the NF-1, will ramp up and as such,
we expect increased revenues, with overall improvements in profitability and
margins.

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

     Sorell has been in operation since October 1998 to manufacture and sell
consumer electronic products.  The Company has consistently had revenue growth
until 2004, when the Company undertook a substantial restructuring of its
operations.

     As with most large manufacturing operations, Sorell is dependent on
substantial bank loans to support its equipment, plants and other operations.
These loans are $12,365,769 total current loans payable and $4,424,700 long term
loans payable as at March 31, 2006, compared to $12,585.155 and $4,407,307 at
March 31, 2005.

Current Loans Payable

     Sorell's current loans payable for 2006 and 2005 are as follows:

<TABLE>
<CAPTION>
<S>           <C>                     <C>                <C>                <C>             <C>
        BANK NAME                   INTEREST       MATURITY DATE           2005            2004
-------------------------------  -------------   --------------     -------------      ------------
Industrial Bank of Korea         5.70%           April 26 to May 28       823,200           525,005
                                                 2006
The Export-Import Bank of Korea  Libor + 1.17%   May 18, 2006           1,955,100         2,028,480
City Bank                        5.95%           May 28, 2006           3,925,635         4,432,500
Shinhan Bank                     5.60% to 6.5%   April 5 to June 30       669,195         1,329,306
                                                 2006
Korea Exchange Bank              5.67%           April 12 to June 28    1,594,911         1,574,777
                                                 2006
Hana Bank                        7.64%           September 21, 2006       411,600           985,000
Hana Bank . . . . . . . . . . .  6.58% to 7.01%  November 6, 2006         358,965           472,734
Jo Hung Bank                     6.00%           June 6, 2006           1,197,756                 -
Letters of Credit                                                       1,429,407         1,237,353
                                                                    -------------       -----------
                                                                    $  12,365,769       $12,585,155
                                                                    =============       ===========
</TABLE>

     The current loans are payable monthly, interest only, and are secured as
follows:


                                        7
<PAGE>

     The Export-Import Bank of Korea loan of $1,955,100 is guaranteed by the
Korea Technology Credit Guarantee Fund up to $1,003,275.

     The City Bank loan of $3,925,635 is guaranteed by the Korea Credit
Guarantee Fund up to $2,893,548 and the balance is secured by a term deposit of
$514,500.

     The Shinhan Bank loan of $669,195 is guaranteed by the Korea Technology
Credit Guarantee Fund up to $760,946.

     The Korea Exchange Bank loan of $1,594,911 is guaranteed by the Korea
Technology Credit Guarantee Fund up to $1,399,440.

     The Hana Bank loan of $411,600 is guaranteed by a second lien on the
Company's land and building with a carrying value of $5,700,217.

     The Hana Bank loan of $358,965 is guaranteed by a term deposit of $102,980.

     The Jo Hung Bank loan of $1,197,756 is guaranteed by a term deposit of
$144,060.

     Letters of Credit with various banks are guaranteed by the Korea Credit
Guaranteed Fund up to $1,049,580.

     The Industrial Bank of Korea loan of $823,200 is unsecured.

Long Term Loans Payable

     The Company has one long term loan payable in 2006 as compared to two in
2005 as follows:


     BANK NAME              INTEREST        2005        2004
------------------------  ------------  ------------  ----------
Industrial Bank of Korea  3.5% to 4.4%    $4,424,700   4,235,500
Hana Bank. . . . . . . .            0%             -     171,807
                                          ----------   ---------
                                        $  4,424,700  $4,407,307
                                        ============  ==========

     The Industrial Bank of Korea loans are payable quarterly, interest only for
the first three years of the term.  Principal and interest will be payable
quarterly, commencing in 2007, for the balance of the term.  The loans will
mature March and May of 2012.  The loans are guaranteed by a first charge of the
land and building with a carrying value of $5,506,362.

     The Hana Bank loan was payable quarterly, interest only, and matured on
November 6, 2005.  The loan was guaranteed by Korea Development Corporation.


                                        8
<PAGE>

     Sorell believes that it will be able to continue satisfying its cash and
other capital requirements through continued additional bank financing.
However, there is no written or otherwise commitment from any such bank to
provide any additional cash to the Company beyond what has already been
provided.  The Company may need to seek financings in addition to its existing
bank financing to grow and support its current operations.  The Company will
also seek additional financing for potential acquisitions.

Convertible Notes and Warrants

     On May 1, 2006, the Company entered into a Securities Purchase Agreement
with four accredited investors and sold to such accredited investors: (i)
$1,000,000 principal amount of senior convertible notes ("Notes") and (ii)
warrants ("Warrants") to purchase up to 2,000,000 shares of the Company's common
stock, resulting in gross proceeds to the Company of $1,000,000.  The sale of
the Notes and Warrants was exempt from registration requirements pursuant to
Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated
thereunder.

     The Notes bear interest at 8% per annum payable quarterly, they mature one
year from the date of issuance and are convertible into shares of the Company's
common stock at the investors' option at $0.50 per share, subject to adjustment.
If after the subscription date the Company completes a financing transaction
that results in gross proceeds of at least $5,000,000, the Company is required
to promptly deliver written notice thereof to the holders of the Notes and the
holders may thereafter require the Company to redeem the Notes.  If at any time
after the subscription date the Company completes a financing transaction that
results in gross proceeds of at least $5,000,000 and the holders of the Notes do
not require the Company to redeem the Notes, the Company has the right to
require the holders to convert all of such Notes into common stock at the then
applicable conversion rate.

     If the Company issues shares of common stock below the then applicable
conversion price, the exercise price of the Notes will be reduced accordingly.
The conversion price of the Notes also will be adjusted if the Company pays a
stock dividend, subdivides or combine outstanding shares of common stock into a
greater or lesser number of shares, or take such other actions as would
otherwise result in dilution of the holders' position.  Interest may be paid
with share of common stock at the Company's option based on 90% of the dollar
volume weighted average price of the Company's common stock on each of the 30
consecutive trading days immediately preceding the applicable interest payment
due date.

     The Warrants are exercisable at a price of $0.75 per share until five years
from the date of issuance.  The investors may exercise the warrants on a
cashless basis if the shares of common stock underlying the warrants are not
then registered for sale pursuant to an effective registration statement.  The
Company may call the outstanding Warrants if: (a) the weighted average price per
share of common stock has been greater than $2.50 for a period of 15 consecutive
trading days immediately prior to the date of delivery of a call notice (the
"Call Notice Period"); (b) the

                                        9
<PAGE>

daily trading volume of the common stock has been greater than 50,000 shares on
each trading day during the Call Notice Period; (c) trading in the common stock
has not been suspended; and (d) the Company is in material compliance with the
terms and conditions of the Warrants and the other transaction documents.

     If the Company issues shares of common stock below the then applicable
exercise price, the exercise price of the Warrants will be reduced accordingly.
The exercise price of the Warrants also will be adjusted if the Company pays a
stock dividend, subdivides or combine outstanding shares of common stock into a
greater or lesser number of shares, or take such other actions as would
otherwise result in dilution of the holders' position.  Upon each such
adjustment of the exercise price, the number shares of common stock issuable
upon exercise of the Warrants will be adjusted determined by multiplying the
exercise price in effect immediately prior to such adjustment by the number of
shares issuable upon exercise of the Warrants immediately prior to such
adjustment and dividing the product thereof by the exercise price resulting from
such adjustment.

     The investors have agreed to restrict their ability to convert their Notes
and exercise their Warrants such that the number of shares of common stock held
by them in the aggregate and their affiliates after such conversion or exercise
does not exceed 4.99% of the then issued and outstanding shares of common stock
of the Company.

     The Company is required to file a registration statement with the
Securities and Exchange Commission within 30 days of closing to register the
sale of the common stock issuable upon conversion of the Notes and exercise of
the Warrants.  If the registration statement is not filed within such period or
if it is not declared effective within 120 days from the date of closing (150
days from the date of closing if the registration statement is reviewed by the
SEC), the Company is required to pay liquidated damages to the investors equal
to 2% of their purchase price for each 30 day period until the event is cured.
In connection with the closing, each officer and director of the Company is
required to sign a lock-up agreement providing that they will not dispose of or
agree to dispose of shares of the Company's common stock beneficially owned by
them until six months from the effective date of such registration statement.
In addition, the investors have a right of first refusal to participate in any
subsequent private placement of debt or equity securities of the Company until
one year after the effective date of the required registration statement.

     New York Global Securities, Inc. and its agents acted as placement agent in
connection with the sale of the Notes and related Warrants and, together with
its agents, was paid cash compensation of $120,000 (12% of the gross proceeds
from the closing), and, together with its agents, will be issued placement agent
warrants to purchase 400,000 shares of the Company's common stock exercisable at
$0.50 per share until two years after the closing.


                                       10
<PAGE>

ITEM 3.  CONTROLS AND PROCEDURES

     As required by Rule 13a-15 under the Securities Exchange Act of 1934 (the
"Exchange Act"), as of March 31, 2006, 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
Chairman (who has served as the principal financial and accounting officer) and
its President and CEO (who serves as the principal operating officer).  Based
upon that evaluation, the Company's Chairman and President have concluded that
the Company's disclosure controls and procedures are effective in alerting them
to material information regarding the Company's financial statement and
disclosure obligation in order to allow the Company to meet its reporting
requirements under the Exchange Act in a timely manner.

     The Company's management, with the participation of its chief executive
officer and chief financial officer, has determined that there has been no
change in the Company's internal control over financial reporting that occurred
during the Company's last fiscal quarter that has materially affected, or is
reasonably likely to materially affect, the Company's internal control over
financial reporting.


                                       11
<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

Miracle Progress International against S-Cam Co., Ltd. and TNP telecom.

     Plaintiff Miracle Progress International filed in the Seoul District Court
in Korea alleging compensation for damages amounting to USD $2,000,000 against
S-Cam Ltd and TNP Telecom.  The three companies entered into an agreement to
launch a GSM phone business on which the Company is in charge of manufacturing,
and TNP telecom is in charge of design and development, with the Plaintiff
charged with marketing.  Plaintiff claims damages in marketing and sales because
of quality defects in manufacturing.  The Company asserted the defect was the
result from the design, not quality control. The final decision has not been
made.  The Company is vigorously defending this lawsuit.

TNP Telecom against  S-Cam Co., Ltd. and Miracle Progress International

     Plaintiff TNP Telecom filed in the Seoul District Court in Korea region
alleging compensation for the development cost of a GSM phone design amounting
to  USD $200,000 against S-Cam Ltd and Miracle Progress International.  The
Company has asserted that the design and development of Plaintiff caused the
defect of products and ruined the business. The final decision has not been
made.  The Company is vigorously defending this lawsuit.

Information Tele-communication Company("ITC") against S-Cam Co., Ltd.

     Plaintiff Information Tele-communication Company filed in the Suwon
District Court in Korea alleging compensation for damages amounting to USD
$221,932 against the Company. Plaintiff claimed the Company did not purchase
parts after placing the order.  The company asserted the Plaintiff did not keep
the delivery date and payment condition was Letter of Credit. The final decision
has not been made.  The Company is vigorously defending this lawsuit.

ITEM 2.   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None during the quarter ended March 31, 2006.  A sale of convertible notes and
warrants dated as of May 1, 2006 is identified in Management's Discussion and
Analysis of Financial Condition and Results of Operations.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.

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

None.

                                       12
<PAGE>

ITEM 5.  OTHER INFORMATION

Not Applicable.

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

(a)   Exhibit Index.  The following exhibits are filed with or incorporated by
reference into this quarterly report:

3.1     Articles of Incorporation of Powertech, Inc.*
3.2     Articles of Amendment to Articles of Incorporation changing name to
        Netmeasure Technology, Inc.*
3.3     Articles of Amendment to Articles of Incorporation of Netmeasure
        Technology, Inc. changing name to Sorell, Inc.**
3.4     Articles of Organization of S-Cam Co., Ltd.**
3.5     By-laws*
4.1     Form of Senior Convertible Note****
4.2     Form of $0.75 Warrant****
10.1    Reorganization and Stock Purchase Agreement dated as of July 12, 2005
        between the Company (then Netmeasure Technology, Inc.) and S-Cam
        Co., Ltd.**
10.2    Mutual Nondisclosure Agreement and Business Agreement dated as of
        September 21, 2005 between S-Cam Co., Ltd. and ANUBIS Electronic Gmbh**
10.3    Public Relations Agreement dated as of November 1, 2005 between the
        Company and Martin E. Janis & Company.**
10.4    Letter Agreement dated February 2, 2006 between the Company and New
        York Global Securities**
10.5    Pro Forma Invoice and Sales Agreement dated July 6, 2006 between S-Cam
        Co., Ltd. and Creative Technology, Ltd.**
10.6    License Agreement dated February 4, 2005 between S-Cam Co., Ltd and
        Ingenient Technologies**
10.7    License Agreement dated May 12, 2005 between S-Cam Co., Ltd. and
        Sisvel**
10.8    License Agreement dated August 1, 2005 between S-Cam Co., Ltd and
        Microsoft Corporation**
10.9    Loan Agreement with The Export-Import Bank of Korea**
10.10   Loan Agreement with The Export-Import Bank of Korea**
10.11   Loan Agreement with Korea First Bank**
10.12   Loan Agreement with Industrial Bank of Korea**
10.13   Loan Agreement with The Export-Import Bank of Korea**
10.14   Loan Agreement with City Bank**
10.15   Loan Agreement with Shinhan Bank**
10.16   Loan Agreement with Korea Exchange Bank**
10.17   Loan Agreement with Hana Bank**
10.18   Loan Agreement with Hana Bank**
10.19   Loan Agreement with Jo Hung Bank**
10.20   Loan Agreement with Industrial Bank of Korea**

<PAGE>
10.21   Loan Agreement with Hana Bank**
10.22   Office Lease**
10.23   Securities Purchase Agreement dated May 1, 2006 by and among Sorell
        Inc. and the investors listed on the Schedule of Buyers attached
        thereto****
10.24   Registration Rights Agreement dated May 1, 2006 by and among Sorell
        Inc. and the Buyers signatory thereto****
10.25   Form of Lock-Up Agreement****
22.     Subsidiaries:     S-Cam Co., Ltd., a Korean corporation
31.1    Chief Executive Officer certification pursuant to Section 302 of the
        Sarbanes-Oxley Act of 2002.
31.2    Chief Financial Officer certification pursuant to Section 302 of the
        Sarbanes-Oxley Act of 2002.
32.1    Chief Executive Officer certification pursuant to 18 U.S.C. Section
        1350
32.2    Chief Financial Officer certification pursuant to 18 U.S.C. Section
        1350

_______________________
*     Previously filed with the Company's Registration Statement on Form 10-SB,
      file number 0-27675, filed on October 15, 1999.
**    Previously filed with the Company filing on Form 10-KSB filed on April
      17, 2006
***   Previously filed with the Company's filing on Form 8-K filed on July 27,
      2005.
****  Previously filed with the Company's filing on Form 8-K filed on April
      4, 2006.

(b) Reports on Form 8-K.
    --------------------

Form 8-K filed on May 4, 2006 reporting entering into agreement and completion
of sale of Convertible Notes and Warrants.

                                   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.

Date: May 20, 2006

By: /s/ Bon Kwan Koo
    ----------------
Name: Bon Kwan Koo

Title: President and Chief Executive Officer

Date: May 20, 2006

By: /s/Seung Nam Yang
    -----------------
Name: Seung Nam Yang

Title: Chief Financial Officer