U.S. SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





FORM 10-QSB





QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES EXCHANGE ACT OF 1934





For the quarterly period ended March 31, 2009





Commission File Number: 000-17064





Oasis Online Technologies  Corp





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








Minnesota                                      41-1430130


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


(State of other jurisdiction of             (IRS Employer Identification No.)


incorporation or organization)








4710 E Falcon Drive Suite 213 Mesa, Arizona 85215


(Address of principal executive offices including zip code)








(480) 634-5840


(Issuer's telephone number)





Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.





Yes X No___





Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.





Large accelerated filer ____                                                                 Accelerated
filer____


Non-accelerated filer____                                                                    Smaller
reporting company X  .


(Do not check if smaller reporting company)








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





Yes X  No
___





As of May 14, 2009, the Registrant had 22,189,542 shares of common stock, $.01 par value per share, outstanding.


Transitional Small Business Disclosure Format (check one): Yes__ No X
































Index













Part I

PageItem 1.
Financial StatementsBalance Sheets as of March 31, 2009 (unaudited) and June 30, 2008
4Statements of Operations, Three Months ended March 31, 2009 and 2008 (unaudited).
5Statements of Operations, Nine Months ended March 31, 2009 and 2008,
And the period from April 26, 2006 (date of commencement of development
Stage) through March 31, 2009 (unaudited).
6Statements of Cash Flows, Nine Months ended March 31, 2009 and 2008,
And the period from April 26, 2006 (date of commencement of development
Stage) through March 31, 2009 (unaudited).
7Notes to Financial Statements
8Item 2.
Management Discussion & Analysis of Financial Conditions and Results of Operations
10Item 3.
Quantitative and Qualitative Disclosures about Market Risk
11Item 4T.
Controls and Procedures.
11Part II.
Other InformationItem 1.
Legal Proceedings
12Item 1A.
Risk Factors
12Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
12Item 3.
Defaults Upon Senior Securities
12Item 4.
Submission of Matters to a Vote of Security Holders
12Item 5.
Other Information
12Item 6.
Exhibits
12






































PART I FINANCIAL INFORMATION





The accompanying financial statements have been prepared by Oasis Online Technologies Corp, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position
of the Company as of March 31, 2009 and 2008 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's June 30, 2008 audited financial statements. The
results of operations for these interim periods are not necessarily indicative of the results for the entire year.









































































































































3











Item 1.  Financial Statements.





OASIS ONLINE TECHNOLOGIES, CORP.


(A Development Stage Company)


BALANCE SHEETS





ASSETS


March 31,       June
30,


2009           2008


(Unaudited)    (See
Note 1)


Current Assets                                   ------------     -----------


Cash                                            $       610      $    9,159


Marketable equity securities                            180          26,875


Security Deposits                                       775             775


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


Total Current Assets                                  1,565          36,809


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


Fixed Assets


Furniture and equipment                               5,385           5,385


Less accumulated depreciation                       (1,577)           (500)


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


Total Fixed Assets                                      3,808           4,885


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


Other Assets


PocketServer License                                 63,038               -


Less accumulated amortization                      (3,152)              -


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


Total Other Assets                                     59,886               -


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


Total Assets                                      $    65,259      $   41,694


===========      ==========





LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


Current Liabilities:


Accounts payable                                $    82,849      $   33,945


Accounts payable-related party                        4,295           1,257


Salaries Payable                                     79,134               -


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


Total Current Liabilities                           166,278          35,202


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





Total Liabilities                                     166,278          35,202


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


Stockholders' (Deficit) Equity:


Common Stock, $.01 par value,


100,000,000 shares authorized


22,189,542 and 13,471,208 shares


issued and outstanding respectively              203,516         134,712


Additional paid-in capital                          4,758,177       4,223,485


Accumulated (deficit)                              (3,539,288)     (3,539,288)


Accumulated (deficit) during development stage     (1,104,760)       (812,417)


Subscriptions and services receivable                (418,664)              -


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


Total Stockholders' Equity (Deficit)                 (101,019)          6,492


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


Total Liabilities and Stockholders' Equity (Deficit)   $    65,259      $   41,694


===========      ==========





The accompanying notes are an integral part of the financial statements.





4


OASIS ONLINE TECHNOLOGIES, CORP.


(A Development Stage Company)


STATEMENTS OF OPERATIONS


(Unaudited)








Three Months Ended


March 31,     March 31,


2009           2008


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


Revenues                                     $          -   $          -


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


Expenses:


Accounting fees                                   1,000          1,000


Legal fees                                        5,000         10,000


Press release & Edgar fees                          585            458


Transfer agent fees                               1,808          1,439


Other professional fees                               -          1,080


Compensation fees                                91,439         69,270


Consulting fees                                   3,900          5,300


Amortization Expense                              3,152              -


Travel fees                                           -            626


Rent expense                                      2,589          2,452


Utilities expense                                   827


Other                                               575          5,114


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


Total Expenses                                  110,875         96,739


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


Net Ordinary (Loss)                          $   (110,875)       (96,739)


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


Other Income


Gain/ (Loss)


Realized loss - sale of


marketable securities                              -       (131,011)


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


Total Other Income                                    -       (131,011)


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


Net (Loss)                                   $   (110,875)      (227,750)


============  =============





Per Share                                    $     (0.005)  $      (0.02)


============   ============


Weighted Average Number


of Shares Outstanding                          22,189,542     13,471,208


============   ============








The accompanying notes are an integral part of the financial statements.





5








OASIS ONLINE TECHNOLOGIES, CORP.


(A Development Stage Company)


STATEMENTS OF OPERATIONS


(Unaudited)





For
the


Period
from


April
26,


2006
(date of


Commencement


of
development


stage)


Nine Months Ended            through


March 31,     March 31,       March 31,


2009           2008             2009


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


Revenues                       $          -   $          -    $           -


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


Expenses:


Accounting fees                    16,800         12,000           40,500


Legal fees                         35,000         55,000          111,296


Press release & Edgar fees          3,801          4,590            9,461


Transfer agent fees                 7,856          8,043           21,246


Other professional fees             1,225          1,591            5,134


Compensation fees                 184,845         69,269          336,119


Consulting fees                    83,900         19,300           97,900


Bad debt expense                        -              -           60,992


Amortization Expense                3,152              -            3,152


Travel fees                             -          9,735           15,393


Rent expense                        7,657          4,169           14,361


Utilities                           5,375              -            5,375


Other                               4,606          7,332           17,471


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


Total Expenses                    354,217        191,029          738,400


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


Net Ordinary (Loss)            $   (354,217)  $   (191,029)   $    (738,400)


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


Other Income


Gain/ (Loss)


Realized loss – sale of


marketable securities           (3,210)      (191,613)        (432,538)


Interest Income – Other            2,045              -            3,140


Gain on bad debt collection        63,038              -           63,038


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


Total Other Income                 61,873       (191,613)        (366,360)


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


Net (Loss)                     $   (292,344)  $   (382,642)   $  (1,104,760)


============   ============    =============





Per Share                      $      (0.02)  $      (0.03)   $       (0.09)


============   ============    =============


Weighted Average Number


of Shares Outstanding            16,646,525     13,104,549       11,855,697


============   ============    =============





The accompanying notes are an integral part of the financial statements.





6





OASIS ONLINE TECHNOLOGIES, CORP.


(A Development Stage Company)


STATEMENTS OF CASH FLOWS


(Unaudited)


For
the period from


April
26,2006 (date


of
Commencement of


development
Stage)


Nine Months Ended           through


March 31,     March 31,      March
31,


2009          2008            2009


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


Cash Flows from Operating Activities:


Net (loss)                              $ (292,344) $   (382,642)   $  (1,104,760)


Adjustments to reconcile net loss


to cash used in operating activities:


Depreciation                               1,077           231            1,578


Increase in accounts payable              47,648        12,188           82,850


Decrease in Subscription Receivable            -         2,000                -


(Decrease) in checks written in


excess of cash balance                       -       (5,293)                -


Increase/(Decrease) in accounts


Payable related party                    4,295         (873)            4,295


Loss on sale of marketable securities      3,210       191,613          432,538


Increase in pre-paid expenses            (26,917)            -          (26,917)


Increase in Salaries payable              79,133             -           79,133


Increase in amortization PS License        3,152             -            3,152


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


Net Cash (Used in) Operating Activities     (180,746)     (182,776)        (528,133)


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


Cash Flows from Investing Activities


Furniture and equipment                          -        (5,385)          (5,385)


Leasehold improvement                            -        (1,318)               -


Security Deposits                                -          (775)            (775)


Cash received from sale of


Available for sale securities              23,485       142,137          309,782


Pocket Server License                      (63,038)            -          (63,038)


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


Net Cash Provided by Investing Activities    (39,553)      134,659          240,584


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


Cash Flows from Financing Activities


Issuance of Common Stock for Cash


And Notes payable to the company         451,996        51,045          523,042


Issuance of common stock for services       80,000             -           80,000


Issuance of common stock for


Future services                           47,000             -           47,000


Issuance of common stock to officers


Vested portion                            24,500             -           24,500


Subscription receivable                   (391,746)            -         (391,746)


Additional paid in capital                       -         5,363            5,363


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


Net Cash Provided by Financing Activities    211,750        56,408          288,159


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


Increase (decrease) in Cash                   (8,549)        8,293              610





Cash, Beginning of Period                      9,159             -                -


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


Cash, End of Period                       $      610    $    8,293     $        610


==========    ==========     ============


Interest Paid                             $        -    $        -                -


==========    ==========     ============


Income Taxes Paid                         $        -    $        -                -


==========    ==========     ============


The accompanying notes are an integral part of the financial statements.





7





OASIS ONLINE TECHNOLOGIES, CORP.


(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


March 31, 2009 (Unaudited)





(1) Unaudited Financial Statements





The balance sheet as of March 31, 2009, the statements of operations and the statements of cash flows for the three month and nine  month periods ended March  31, 2009 and 2008 have been prepared by Oasis Online Technologies Corp (Company) without audit, pursuant to the rules and regulations of the Securities and
Exchange Commission. Certain information and footnote disclosures, normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted as allowed by such rules and regulations, and the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present
fairly the financial position, results of operations and changes in financial position at March  31, 2009 and for all periods presented, have been made.





It is suggested that these statements be read in conjunction with the June 30, 2008 audited financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission.





(2) Basis of Presentation





The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern. However, the Company has negative working capital and limited business operations, which raises substantial doubt about
its ability to continue as a going concern.





In view of these matters, realization of certain of the assets in the accompanying balance sheet is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and the success of its operations. However, the Company has
sustained losses from operations and has net capital and working capital deficits, which raises substantial doubt about its ability to continue as a going concern.





Management has identified markets that they view as favorable for development and has developed initial plans and products for penetrating these markets. Management has identified and acquired access and rights to key technologies they believe will form the core of the Company’s product line. Management of the Company is currently
in the process of creating four distinct subsidiaries in order to market its current and future products and services through. Management believes that their plan provides an opportunity for the Company to continue as a going concern.





(3) Development Stage Company





Based upon the Company’s current business plan, it is a development stage enterprise since operations have just commenced. Accordingly, the Company presents its financial statements in conformity with the accounting principles generally accepted in the United States of America that apply in establishing operating enterprises.
As a development stage enterprise, the Company discloses the deficit accumulated during the development stage and the cumulative statements of operations and cash flows from commencement of development stage to the current balance sheet date. The development stage began April 26, 2006 when it commenced activities to again establish the Company as a reporting company with the Securities and Exchange Commission.





(4) Related Party Transactions





During the nine months ended March 31, 2009 the Company’s largest single shareholder, Big Eye Capital, Inc. (“Big Eye”) as well as two affiliates of the Company made cash advances to the Company to pay expenses. At March 31, 2009, the Company owed $4,295 to Big Eye and Company affiliates for advances made to the Company
to pay expenses. These cash advances to the Company are uncollateralized, bear no interest and are due on demand.














8











OASIS ONLINE TECHNOLOGIES CORP


(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


March 31, 2009 (Unaudited)





(5) Common Stock





Pursuant to the Articles of Incorporation, as amended on September 19, 2007, the Company is authorized to issue 100,000,000 common shares, with a par value of $.01 per share. As of March 31, 2009 there were 22,189,542 shares of common stock issued and outstanding.





On November 14, 2008, the Company issued 1,760,000 shares of common stock at $0.1461 per share to accredited investors for total investment of $252,000 in cash and subscriptions receivable to the Company. The investors in this closing represented that they were "accredited investors," as that term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the "Securities Act"), and the sale of the Shares was made in reliance on exemptions provided by Regulation D and Section 4(2) of the Securities Act. The shares will be non-transferable in the absence of an effective registration statement under the Securities Act, or an available exemption there from, and all certificates will be imprinted with a restrictive legend to that effect.





On December 29, 2008 the Company issued 1,333,334 shares of common stock at $0.1461 per share to an accredited investor for a total investment of $200,000 in a subscription receivable to the Company. The investor in this closing represented that they were an "accredited investor," as that term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the "Securities Act"), and the sale of the Shares was made in reliance on exemptions provided by Regulation D and Section 4(2) of the Securities Act. The shares will be non-transferable in the absence of an effective registration statement under the Securities Act, or an available exemption there from, and all certificates will be imprinted with a restrictive legend to that effect.





In December the Company also issued 2,000,000 shares of common stock at $0.04 per share for invoices totaling $80,000 for services rendered to the Company for investor relations services, bookkeeping services and advisory and consulting services provided to the Company during the quarter ended December 31, 2008. These shares of common
stock were issued in reliance on exemptions provided in Section 4(2) of the Securities Act for transactions not involving a public offering.





In December 2008, the Company issued restricted shares of common stock to engage a team of technology professionals for the development of the programs, web sites and to generally manage the technology of the Company and its subsidiaries. This team consists of five individuals which have agreed to be compensated by shares of the Company’s
common stock. The Company has issued 675,000 restricted shares of common stock at $0.04 per share for the work performed and to be performed in the near future. These shares require that each member of the team provide one year of continuous service to the Company for their shares to become vested. The Company will amortize these shares valued at $27,000 over the one year vesting period.





In December 2008, the Company also issued restricted common stock to officers and directors of the Company totaling 2,450,000 restricted shares of common stock at $0.04 per share to the officers of the Company valued at $98,000. These shares require that each officer provide one year of continuous service to the company in a position
of officer for the shares to become vested. The value of these shares will be amortized over the one year vesting period. The Company also issued 500,000 restricted shares of common stock to a new member of the board of directors for assistance they will provide in recruiting and hiring of a professional to head the Company’s medical division. These shares require six months continuous service to the Company as a director to become vested. The $20,000 value for these shares will be amortized over the six
month vesting period.





All shares of common stock issued for services during the Company’s second quarter were issued at market price. The Company did not issue any shares of stock during the period ended March 31, 2009





(6) Investments -- Marketable Securities





The company has 1,000 shares of available for sale securities held by the Company, and has recorded $690 of losses in connection with fair value impairment for the quarter ended December 31, 2008. The Company’s management has evaluated the likelihood that the impairment in the stock price of this investment would be permanent
and it was determined that this was likely to be a permanent impairment for the remaining time that the Company intended to hold these securities and thus the Company has recorded a loss for the fair value adjustment in the total amount of $3,210 for the remaining shares owned by the Company.




9




OASIS ONLINE TECHNOLOGIES CORP


(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


March  31, 2009 (Unaudited)





(7) Agreements





On October 24, 2008 the Company entered into a 3-year Revenue Share Agreement (the "Revenue Agreement") with SVC Cards, Inc., pursuant to which SVC Cards, Inc. has agreed to enter into distribution agreements with Oasis so that the Company can market SVC’s financial products to Oasis customers and contacts. Under the terms of
the Revenue Share Agreement, Oasis will receive 60-65% of the net revenue generated from the sale of SVC’s products and the Company can create its own co-branded products with SVC Cards.





On November 5, 2008, Oasis Online Technologies (the “Company”) entered into a Master License Agreement with TranSend International, Inc., a Nevada corporation (“TranSend”), pursuant to which the Company acquired a 5-year exclusive Master License for Transend’s PocketServerTM software. The license gives
the Company the right to distribute, grant sub-licenses, co-brand, re-brand, grant additional master licenses, use, sell, offer for sale, import, or otherwise distribute PocketServerTM anywhere in the world. The license also grants the Company the right to further sublicense PocketServerTM to any third party for further distribution of the Products, as that term is defined in the Master License Agreement.





The Company used as consideration for the purchase of this Master License, money advanced by the Company to TranSend International, Inc. as part of a Line of Credit Agreement in the amount of $63,038 (which includes accrued interest through November 4, 2008) which was applied as the payment for the grant of the license. The Company
had established a reserve of doubtful accounts equal to the entire principal and interest due under the line of credit.  The Company recognized gain on recovery of bad debt of $ 63,038 based upon estimated value of the master license agreement.  In addition the Company shall pay TranSend a royalty of 10% of the net sales of new PocketServerTM software licenses.  The Company will also pay a royalty of 10% of the net collections from previous TranSend customers from whom the Company
is able to collect new fees and commitments.








10





Item 2                      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS





This report includes certain forward-looking statements. Forward-looking statements are statements that predict the occurrence of future events and are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as "may", "shall", "will", "could", "expect",
"estimate", "anticipate", "predict", "probable", "possible", "should", "continue", or similar terms, variations of those terms or the negative of those terms. We have written the forward-looking statements specified in the following information on the basis of assumptions we consider to be reasonable. However, we cannot predict our future operating results. Any representation, guarantee, or warranty should not be inferred from those forward-looking statements.









The assumptions we used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty in economic, legislative, industry, and other circumstances. As a result, judgment must be exercised in the identification and interpretation
of data and other information and in their use in developing and selecting assumptions from and among reasonable alternatives. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results. Accordingly we express no opinion on the achievability of those forward-looking statements. We cannot guarantee that any of the assumptions relating to the forward-looking statements specified in the following information are accurate. We assume no obligation to
update any such forward-looking statements.









Oasis Online Technologies Corp. was incorporated under the laws of the state of Minnesota in 1980 as Implant Technologies, Inc. To better reflect the Company's current goals the Company's name was changed to Oasis Online Technologies Corp on September 19, 2007.









Oasis Online Technologies Corp's planned business will be the marketing of key core technologies and products that are easily adaptable for multiple market segments which require secure storage and convenient mobile, portable, and/or online use of data. The Company's planned products and features will be designed and marketed to protect
against or prevent real world problems such as transaction fraud, identity theft, online theft, expense account fraud, abducted children, and HIPPA compliance, while making the online experience easier and faster.









Management intends to acquire core technology platforms through acquisitions, licensing agreements, joint ventures, and/or by internally guided development. These core technologies should encrypt critical information, and be able to move this information on and off of smart-chip enabled mediums such as smart-cards, USB tokens, and cellular
telephones. The information must be compressed to allow for the minimum storage capabilities of these devices. These core technologies, being platform based, will allow them to be readily adapted or combined with other feature-rich software applications or products to appeal to different market segments.









In accordance with Management's business plan, the Company has established (4) wholly-owned subsidiaries whereby each subsidiary can leverage the core technologies that Oasis will acquire, to focus its sales efforts exclusively on only one of the four distinct market segments that have initially been identified. This will allow each
subsidiary to build distinctly different marketing and sales strategies tailored exclusively to their segments. As the success of this strategy may be demonstrated, and resources become available, the Company may form additional subsidiaries to take advantage of other opportunities and markets. The initial market segments to be targeted are; 1) Financial Institutions, 2) Online Consumers, 3) Medical Provider Networks, and 4) Families with young children.









On November 5, 2008, Oasis entered into a Master License Agreement with TranSend International for exclusive rights to its PocketServer software. The Master License Agreement allows Oasis to modify and distribute the PocketServer application at will. According to the agreement, Oasis will pay 10% of all net-revenues generated by the
sale of the PocketServer application to TranSend International. Oasis plans to develop new applications from the PocketServer application to sell through its newly formed subsidiaries.









Management is currently researching multiple marketing options to sell the PocketServer application.









On October 24, 2008, Oasis entered into a Revenue Share Agreement with SVC Cards, Inc. to distribute its suite of debit and electronic payment products. According to the Agreement, Oasis will receive 60% of all revenues generated by the sale of SVC's products by Oasis. Should Oasis sell in excess of 10,000 units of any given product,
Oasis' revenue share will increase to 65% of gross revenues generated. Oasis plans to sell the SVC suite of card products through its newly formed subsidiaries and is currently researching multiple marketing options to sell the SVC card products.














11









The Company is still researching and negotiating with third-party service providers in order to create an identity-theft protection package to sell through its subsidiaries. Some of the services to be included in the package are a suite of credit-monitoring services as well as products to enhance certain e-mail functions. The company
intends to bundle the contemplated services with its PocketServer software which provides additional online identity protection features as part of this package of services which will be sold direct to the consumer. The Company anticipates offering this package for sale as soon as suitable service providers have been identified and agreements have been secured.




Management is currently researching and negotiating with potential acquisition candidates in electronic payment and online business directory markets.




The Company has begun development of a search-based website that it intends to launch in the near term. The website allows users to search and browse the Internet in a secure and anonymous manner.









The Company generated no revenues during the quarter ended March  31, 2009. The Company has little capital but has begun receiving subscription payments for the stock subscriptions described below. The Company anticipates operational costs will be limited until such time as significant progress is made by management to raise
the capital that will be needed to implement its current plan. To that end the Company is currently working on raising these funds and the Company has received subscriptions for over $450,000 of its $1.2 million funding plan. Although the Company has received subscriptions for over $450,000, payments have been delayed by some of the subscribers in accordance with their individual subscription agreements.  Management is confident that these subscription payments will begin again in the near term.









The Company currently has significant accounts payable and anticipates trying to negotiate settlement of some of the current accounts payable and management feels confident in its ability to quickly move forward to revenue generating operations with revenues expected from product introductions expected to begin in the quarter ending
March 31, 2009 and further moving the Company's business to the next stages.







ITEM 3    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK





Not required by smaller reporting companies.





ITEM 4T CONTROLS AND PROCEDURES





(a)  Evaluation of Disclosure Controls and Procedures





As of March 31, 2009, we carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer
concluded that our disclosure controls and procedures were effective in ensuring that information required to be disclosed by us in our periodic reports is recorded, processed, summarized and reported, within the time periods specified for each report and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.





(b) Changes in internal controls.





There was no change in our internal controls over financial reporting that has materially affected, or is reasonable likely to materially affect, our internal control over financial reporting during the quarter covered by this Report.
































12





























PART II. OTHER INFORMATION





Item 1. Legal Proceedings





None.





Item 2. Unregistered Sales of Equity Securities and Use of Proceeds





None.








Item 3. Defaults upon Senior Securities





None.





Item 4. Submission of Matters to a Vote of Security Holders





None.





Item 5. Other Information





None.





Item 6. Exhibits





Exhibit 31.1                                Certification by Chief Executive Officer, required by Rule 13a- 14(a) or Rule 15d-14(a) of the Exchange Act,promulgated
under the Securities and Exchange Act of 1934, as amended.





Exhibit 31.2                                Certification by Chief Financial Officer, required by Rule 13a- 14(a) or Rule 15d-14(a) of the Exchange Act,promulgated
under the Securities and Exchange Act of 1934, as amended.





Exhibit 32.1                                Certification by Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section906
of the Sarbanes-Oxley Act of 2002.





Exhibit 32.2                                Certification by Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section906
of the Sarbanes-Oxley Act of 2002.




















































13























SIGNATURES









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







OASIS ONLINE TECHNOLOGIES CORP.





Date:            May 18,  2009
By /s/ Erik Cooper                   .Erik CooperChief Executive Officer and President (Principal Executive Officer)Date:           May 18,  2009
By /s/ John Venette                  .John VenetteChief Financial Officer, Secretary and Treasurer (Principal Financial Officer and Principal Accounting Officer)