UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549




FORM
10-K




(Mark
One)




x
              
              ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES
      EXCHANGE ACT OF 1934For
      the fiscal year ended December 31, 2008oro
              
              TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


For the
transition period from ____________ to ____________




Commission
file number l-9224




Inscrutor,
Inc.


(Name
of Small Business Issuer in Its Charter)





DELAWARE
              
              32-0251358(State
      or Other Jurisdiction of
                Incorporation
      or Organization)
              
              (I.R.S.
      Employer
                Identification
      No.)




410
      Park Avenue, 15th
      Floor, New York, NY 10022(Address
      of Principal Executive Offices) (Zip
Code)




212-231-8526


(Issuer's
Telephone Number, including Area Code)




Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.


Yes
[  ]          No  [
X ]





Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Exchange Act.


Yes [ X
]       No  [  ]





Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.  Yes [X]    
No  [   ]





Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the best
of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  [X]





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]





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


Yes
[   ]          No  [
X ]





The
aggregate market value of the registrant’s common stock held by non-affiliates
of the registrant, computed by reference to the last reported price at which the
stock was sold on December 31, 2008 (the last business day of the registrant’s
most recently completed fourth quarter) was $0.





Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date.





Class
              
              Outstanding
      at March 9, 2009Common
      Stock, $.001 par value per share
              
              11,350,030
      shares













INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)


FORM
10-K


YEAR
ENDED DECEMBER 31, 2008








TABLE OF
CONTENTS




PART
      I
                        PageItem
      1.
                        Business
                        1Item
      1A.
                        Risk Factors
                        2Item
      2.
                        Properties
                        3Item
      3.
                        Legal Proceedings
                        3Item
      4.
                        Submission of Matter to a Vote of Security Holders
                        3PART
      II
                        4Item
      5.
                        Market for the Registrant’s Common Stock and Related Stockholder
      Matters
                        4Item
      6.
                        Selected Financial Data
                        4Item
      7.
                        Management’s Discussion and Analysis of Financial Condition and
      Results ofOperations
                        4Item
      7A.
                        Quantitative and Qualitative Disclosures About Market Risk
                        8Item
      8.
                        Financial Statements and Supplementary Data
                        8Item
      9.
                        Changes In and Disagreements With Accountants on Accounting
      andFinancial Disclosure
                        8Item
      9A.
                        Controls and Procedures
                        8PART
      III
                        8Item
      10.
                        Directors, Executive Officers and Corporate Governance
                        8Item
      11.
                        Executive Compensation
                        9Item
      12.
                        Security Ownership of Certain Beneficial Owners and
      Management
                        9Item
      13.
                        Certain Relationships and Related Transactions, and Director
      Independence
                        10Item
      14.
                        Principal Accountant Fees and Services
                        10PART
      IV
                        11Item
      15.
                        Exhibits and Financial Statements Schedules
                        11























FORWARD-LOOKING
STATEMENTS





This
report contains forward-looking statements that are subject to a number of risks
and uncertainties, many of which are beyond our control, which may include
statements about our:





·
            business
      strategy;




·
            financial
      strategy;




·
            uncertainty
      regarding our future operating
results;




·
            plans,
      objectives, expectations and intentions contained in this report that are
      not historical.




All
statements, other than statements of historical fact included in this report,
regarding our strategy, future operations, financial position, estimated
revenues and losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. When used in this report, the words
“could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and
similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying words. All
forward-looking statements speak only as of the date of this report. You should
not place undue reliance on these forward-looking statements. Although we
believe that our plans, intentions and expectations reflected in or suggested by
the forward-looking statements we make in this report are reasonable, we can
give no assurance that these plans, intentions or expectations will be achieved.
We disclose important factors that could cause our actual results to differ
materially from our expectations under “Risk Factors” and elsewhere in this
report. These cautionary statements qualify all forward-looking statements
attributable to us or persons acting on our behalf.





Item
1.Business




General




We are a
Delaware Corporation founded in April 2008 as a wholly owned subsidiary of
Visator, Inc. (“Visator”).  On May 30, 2008, pursuant to a Separation
and Distribution Agreement, all of the shares of Inscrutor were spun out from
Visator to the Visator shareholders.    Currently, we own,
manage and exploit a sophisticated data mining technology primarily useful
for organizations, regardless of size, which are involved in the handling of
masses of unstructured textual information.  We plan to derive revenue
through license agreements with such organizations.  Currently, we
derive revenue from a management services agreement with Visator. We intend to
be active in upgrading and extending this technology to establish our market
competitiveness and so ensure steady growth and appeal to potential
customers.





Marketing





Our
initial target market will be the professional market, i.e. sales to businesses
of all sizes.  The consumer market will be a secondary priority for
Inscrutor in terms of its initial clientele.  For our products and
consulting services, we must and will take a classical “business-to-business”
approach to gaining and keeping customers.  This sales approach
requires a high level of industry knowledge and contacts.  Although
ICT industry knowledge and experience will be favored when hiring sales
representatives, the close relationship we intend to keep to the market should
provide a steady source of both knowledge and contacts, starting with our first
and sole customer, Visator, Inc.





The sales
structure will be based on a fixed sales process for the cultivation of each and
every potential customer.  At the same time, metrics will be
continuously monitored as to the number of sales leads being handled within this
sales process, and their progression from stage to stage.  Inscrutor
sales representatives will receive continuous training in sales skills with an
emphasis on countering customer objectives.





We will
take a different approach when approaching the consumer market for potential
customers.  In this arena, the product price will be kept as low as
feasible in order to attract a mass base of customers.  It will be
crucial for Inscrutor to avoid labor-intensive facilities for attending to
after-the-sale customer concerns.





The
consumer sector emphasis will be placed on proper marketing in order to build up
and sustain the desired mass customer base.  Inscrutor will engage in
an on-line marketing campaign to create the desired customer base and use
continued on-line marketing techniques to maintain it.  Specific
techniques will be based around an attractive product website with a URL
composed of the product’s brand name, designed both as a persuasive vehicle and
a purchase and download point.  Other efforts will also be employed
such as targeted on-line pay-per-click advertising and viral
campaigns.  Further, Inscrutor will offer the software for sale at
prominent “software clearinghouse” websites (such as www.tuscows.com and
www.download.com).






-1-





Competition





There are
multiple companies which possess sophisticated search and information
technology, which generally utilize that technology themselves to offer on-line
media monitoring services and/or license it to other on-line media monitoring
firms.





Among the
leading firms in this category are:





-             Cyberwatcher,
based in Norway (http://www.cyberwatcher.no/)





-             Newsradar,
based in Germany (http://www.newsradar.de/)





The
flexibility of Inscrutor’s core technology is such that the possibility of
offering scaled-down versions of that technology for sale to the consumer market
can realistically be considered.  The following companies provide some
examples of that approach:





-             Copernic,
a supercharged downloadable software search application (http://www.copernic.com)





-             Webseeker,
a downloadable search application http://www.bluesquirrel.com/products/webseeker/?ASCID=1033)





-             Website-Watcher,
which monitors designated websites to detect changes and send alerts (http://aignes.com)





-             WatzNew,
a change-monitor, operated under a “shareware” business model (http://www.watznew.com)




Item
1A.Risk
Factors




THIS
REPORT CONTAINS CERTAIN STATEMENTS RELATING TO FUTURE EVENTS AND THE FUTURE
FINANCIAL PERFORMANCE OF OUR COMPANY. PROSPECTIVE INVESTORS ARE CAUTIONED THAT
SUCH STATEMENTS ARE ONLY PREDICTIONS, INVOLVE RISKS AND UNCERTAINTIES, AND THAT
ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. IN EVALUATING SUCH STATEMENTS,
PROSPECTIVE INVESTORS SHOULD SPECIFICALLY CONSIDER THE VARIOUS FACTORS
IDENTIFIED IN THIS REPORT, INCLUDING THE MATTERS SET FORTH BELOW, WHICH COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH
FORWARD-LOOKING STATEMENTS.





An
investment in our common stock involves a high degree of risk. You should
carefully consider the risks described below and the other information in this
prospectus before investing in our common stock. If any of the following risks
occur, our business, operating results and financial condition could be
seriously harmed. Please note that throughout this prospectus, the words “we”,
“our” or “us” refer to the Company and not to the selling
stockholders.




WE
HAVE A LIMITED OPERATING HISTORY THAT YOU CAN USE TO EVALUATE US, AND THE
LIKELIHOOD OF OUR SUCCESS MUST BE CONSIDERED IN LIGHT OF THE PROBLEMS, EXPENSES,
DIFFICULTIES, COMPLICATIONS AND DELAYS FREQUENTLY ENCOUNTERED BY A SMALL
DEVELOPING COMPANY.




We were
incorporated in Delaware in April 2008. We have no significant financial
resources and only a small amount of revenues to date. The likelihood of our
success must be considered in light of the problems, expenses, difficulties,
complications and delays frequently encountered by a small developing company
starting a new business enterprise and the highly competitive environment in
which we will operate. Since we have a limited operating history, we cannot
assure you that our business will be profitable or that we will ever generate
sufficient revenues to meet our expenses and support our anticipated
activities.




WE
WILL REQUIRE FINANCING TO ACHIEVE OUR CURRENT BUSINESS STRATEGY AND OUR
INABILITY TO OBTAIN SUCH FINANCING COULD PROHIBIT US FROM EXECUTING OUR BUSINESS
PLAN AND CAUSE US TO SLOW DOWN OUR EXPANSION OF OPERATIONS.




We will
need to raise additional funds through public or private debt or sale of equity
to achieve our current business strategy. Such financing may not be available
when needed. Even if such financing is available, it may be on terms that are
materially adverse to your interests with respect to dilution of book value,
dividend preferences, liquidation preferences, or other terms. Our capital
requirements to implement our business strategy will be significant. Moreover,
in addition to monies needed to continue operations over the next twelve months,
we anticipate requiring additional funds in order to execute our plan of
operations. No assurance can be given that such funds will be available or, if
available, will be on commercially reasonable terms satisfactory to us. There
can be no assurance that we will be able to obtain financing if and when it is
needed on terms we deem acceptable.




If we are
unable to obtain financing on reasonable terms, we could be forced to delay or
scale back our plans for expansion. In addition, such inability to obtain
financing on reasonable terms could have a material adverse effect on our
business, operating results, or financial condition.




-2-







OUR
AUDITOR HAS EXPRESSED SUBSTANTIAL DOUBT AS TO OUR ABILITY TO CONTINUE AS A GOING
CONCERN.




Based on
our financial history since inception, our auditor has expressed substantial
doubt as to our ability to continue as a going concern. We are a development
stage company that has never generated any revenue. If we cannot obtain
sufficient funding, we may have to delay the implementation of our business
strategy.




OUR
FUTURE SUCCESS IS DEPENDENT, IN PART, ON THE PERFORMANCE AND CONTINUED SERVICE
OF JESPER TOFT. WITHOUT HIS CONTINUED SERVICE, WE MAY BE FORCED TO INTERRUPT OR
EVENTUALLY CEASE OUR OPERATIONS.




We are
presently dependent to a great extent upon the experience, abilities and
continued services of Jesper Toft. We currently have a consulting agreement with
Mr. Toft. The loss of his services could have a material adverse effect on our
business, financial condition or results of operation.




FROM
INCEPTION, WE HAVE HAD ONLY ONE CUSTOMER WHO HAS ACCOUNTED FOR 100% OF OUR TOTAL
REVENUES.





We
currently have only one customer, Visator, who accounts for 100% of total
revenues. This customer is also a related party. While we believe our
relationship with Visator is stable, a significant decrease or interruption in
business from our significant customer could have a material adverse effect on
our business, financial condition and results of operations. We plan to expand
our customer base in the upcoming year to mitigate this risk.





OUR
COMMON STOCK IS CONSIDERED A PENNY STOCK, WHICH IS SUBJECT TO RESTRICTIONS ON
MARKETABILITY, SO YOU MAY NOT BE ABLE TO SELL YOUR SHARES.




If our
common stock becomes tradable in the secondary market, we will be subject to the
penny stock rules adopted by the Securities and Exchange Commission that require
brokers to provide extensive disclosure to their customers prior to executing
trades in penny stocks. These disclosure requirements may cause a reduction in
the trading activity of our common stock, which in all likelihood would make it
difficult for our shareholders to sell their securities.





Penny
stocks generally are equity securities with a price of less than $5.00 (other
than securities registered on certain national securities exchanges or quoted on
the NASDAQ system). Penny stock rules require a broker-dealer, prior to a
transaction in a penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document that provides information about penny
stocks and the risks in the penny stock market. The broker-dealer also must
provide the customer with current bid and offer quotations for the penny stock,
the compensation of the broker-dealer and its salesperson in the transaction,
and monthly account statements showing the market value of each penny stock held
in the customer’s account. The broker-dealer must also make a special written
determination that the penny stock is a suitable investment for the purchaser
and receive the purchaser’s written agreement to the transaction. These
requirements may have the effect of reducing the level of trading activity, if
any, in the secondary market for a security that becomes subject to the penny
stock rules. The additional burdens imposed upon broker-dealers by such
requirements may discourage broker-dealers from effecting transactions in our
securities, which could severely limit their market price and liquidity of our
securities. These requirements may restrict the ability of broker-dealers to
sell our common stock and may affect your ability to resell our common
stock.




Item
2.Property





Our
business office is located at 410 Park Avenue, 15th Floor, New York,
NY 10002.




Item
3.Legal
Proceedings




There are
no legal proceedings pending or threatened against us in the United
States.




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




None.





-3-




PART
II




Item
5.Market for CommonEquity and
Related Stockholder Matters




Our
common stock is quoted on the OTC Bulletin Board, a service provided by the
Nasdaq Stock Market Inc., under the symbol “INSC”.  The following
table sets forth the high and low bid prices for our common stock as reported
each quarterly period since inception.





Fiscal
      year ended December 31, 2008
                  
                  High
                  
                  
                  LowQuarter
      endedDecember
      31, 2008
                  
                  $
                  0.00
                  
                  
                  $
                  0.00September
      30, 2008
                  
                  $
                  0.00
                  
                  
                  $
                  0.00April
      18, 2008 (Inception) - June 30, 2008
                  
                  $
                  0.00
                  
                  
                  $
                  0.00




Holders of Our Common
Stock




As of the
date of this annual report, we had 44 shareholders of our common
stock.





Stock Option
Grants




To date,
we have not granted any stock options.





Item 6.  Selected Financial Data





April
      18, 2008 (Inception) - December 31, 2008Statement of Operations
    Data:Revenue-Related
      party
                                  
                                  $
                                  21,000Cost
      of goods sold
                                  
                                  
                                  8,050Gross
      profit
                                  
                                  $
                                  12,950Gross
      margin
                                  
                                  
                                  62
                                  %Selling,
      general & administrative expenses
                                  
                                  
                                  142,879Loss
      from operations
                                  
                                  $
                                  (129,929
                                  )Operating
      expense (as % of revenue)
                                  
                                  
                                  680
                                  %Interest
      expense
                                  
                                  
                                  (1,269
                                  )Net
      loss
                                  
                                  $
                                  (131,198
                                  )Net
      loss per share
                                  
                                  $
                                  (0.01
                                  )
  Balance Sheet Data:
                          
                          April
      18, 2008 (Inception) - December 31, 2008Total
      assets
                          
                          $
                          11,042Total
      liabilities
                          
                          
                          68,471Working
      capital
                          
                          
                          (59,422
                          )Stockholders'
      deficit
                          
                          
                          (57,429
                          )







Item
7.  Management’s Discussion and Analysis of Financial Condition and
Results of Operations




The
following discussion highlights the principal factors that have affected our
financial condition and results of operations as well as our liquidity and
capital resources for the periods described. This discussion contains
forward-looking statements. Please see “Forward-Looking Statements” and "Risk
Factors" for a discussion of the uncertainties, risks and assumptions associated
with these forward-looking statements.





The
following discussion and analysis of the Company’s financial condition and
results of operations are based on the Company’s financial statements, which the
Company has prepared in accordance with U.S. generally accepted accounting
principles.  You should read the discussion and analysis together with
such financial statements and the related notes thereto.






-4-






Plan
of Operation





We own,
manage, and intend to exploit a sophisticated data mining technology primarily
useful for organizations, which are involved in the handling of masses of
unstructured textual information. Such information often comprises that which is
available via the Internet, but can also include databases, etc. that are owned
internally by those organizations. We plan to derive revenue from the technology
mainly through license agreements with information-intensive organizations and
others with related needs. Further development will focus on organizations that
need to share and control data from among two or more internal information
systems with different structures or specifications; organizations that desire
to include a sophisticated searching device on their websites as a visitor aide;
and organizations desiring to construct customized search and monitoring
facilities over unique data sources. We intend to be active in upgrading and
extending this technology to establish market competitiveness, to ensure steady
growth and appeal as a successful and dynamic company.





Results
of Operations.





Period
from April 18, 2008 (Inception) to December 31, 2008




For the
period from April 18, 2008 (Inception) through December 31, 2008, we had
management service income of $21,000 from a related entity and cost of goods
related to this service income of $8,050, respectively, due to consulting
labor.  For the period from April 18, 2008 (Inception) through
December 31, 2008, expenses totaled $142,879, resulting in a net loss of
$131,198.





For the
period from April 18, 2008 (Inception) through December 31, 2008, selling,
general and administrative expenses of $142,879 mainly comprised of legal fees
of $42,561, consulting fees of $27,680, audit fees of $8,933, related party
consulting fees for Jesper Toft, CEO, of $58,000, and office service expense of
$5,705.  We also had interest expense of $1,269 related to in-kind
contribution of interest on non-interest bearing loans payable-related
party.





Capital
Resources and Liquidity




As of
December 31, 2008, we had cash of $49.  While we are attempting to commence
operations and produce revenues, our cash position may not be significant enough
to support our daily operations. Management intends to raise additional funds
through debt or equity.




However,
if we are unable to satisfy our cash requirements we may be unable to proceed
with our plan of operations.  We do not anticipate the purchase or sale of
any significant equipment. We also do not expect any significant additions to
the number of employees. The foregoing represents our best estimate of our cash
needs based on current planning and business conditions.  In the event we
are not successful in reaching our initial revenue targets, additional funds may
be required, and we may not be able to proceed with our business plan for the
development and marketing of our core services. Should this occur, we will
suspend or cease operations.





We
anticipate that depending on market conditions and our plan of operations, we
may incur operating losses in the foreseeable future. Therefore, our auditors
have raised substantial doubt about our ability to continue as a going
concern.  We do not have enough cash to continue operations for twelve
months without receiving additional debt or equity financing or increasing our
revenues.





Operating
Activities





We used
$46,015 of cash in our operating activities during the period from April 18,
2008 (Inception) through December 31, 2008. We had a net loss of $131,198. We
had an increase in accounts receivable of $9,000 and security deposits of $465,
offset by an increase in accounts and accrued expenses payable of $20,618,
$72,500 for stock issued for consulting fees and services – related party and
professional fees, in-kind contribution of interest for loans payable – related
party of $1,269 and amortization expense of $261.





Investing
Activities





We used
$1,789 of cash in our investing activities during the period from April 18, 2008
(Inception) through December 31, 2008 related to website costs.





Financing
Activities





We
received $47,853 of cash from our financing activities during the period
from April 18, 2008 (Inception) through December 31, 2008. We had $2,853 of
proceeds of loans payable to related party and $45,000 of proceeds of loans
payable to Toft ApS related party.





Off-Balance
sheet arrangements




At
December 31, 2008, we had no off-balance sheet arrangements.





-5-








Spin
Out





In May
2008, Visator, Inc. spun out, pro rata, all of its shares of our common stock
held by it to their 42 shareholders.  These shares were
not registered under the Securities Act of 1933 and may not have been
appropriately exempt from registration under the
Act.    Based upon same, if it is determined that the shares
issued pursuant to this spin out do not qualify for this exemption we may be
subject remedial sanctions. Such sanctions could include the payment of
disgorgement, prejudgment interest and civil penalties. We may also be subject
to prejudgment interest on such amount as well as civil penalties in amount that
would have to be determined by the court.





We are
not aware of any pending claims for sanctions against us based upon the failure
to properly register such shares under the Securities Act of 933. Nevertheless,
it is possible that it could be determined that such shares may not have
been exempt from registration and that we may be subject to sanctions and
possible civil penalties.  In the event that a shareholder brings a
claim against us for failure to properly register these shares it could
have  an adversely affect on our results of operations and financial
condition since we would need to pay fees to defend such claim or pay damages if
the shareholder is successful in their claim against us.




Critical
Accounting Policies





Going
concern





The
accompanying financial statements have been prepared under a going concern basis
which contemplates the realization of assets and liquidation of liabilities in
the normal course of business. However, we have incurred operating losses of
$131,198.  In addition at December 31, 2008 current liabilities exceed
current assets by $59,422, there is a stockholders’ deficit of $57,429 and net
cash used in operations is $46,015.  These factors raise substantial
doubt about our ability to continue as a going concern.





Management
is pursuing other business relationships and believes that the actions presently
being taken and the success of future operations will be sufficient to enable
the Company to continue as a going concern.





In July
and August 2008, we raised gross proceeds of $45,000 through the issuance of a
note payable to a related party (see Note 4) for the purpose of funding
operating expenses.





However,
there can be no assurance that the raising of equity will be successful and that
our anticipated financing will be available in the future, at terms satisfactory
to the Company. Failure to achieve the equity and financing at satisfactory
terms and amounts could have a material adverse effect on the Company’s ability
to continue as a going concern. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.





Use
of estimates





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





Revenue
recognition





Our
revenues are derived from advisory and technology consulting services related to
software maintenance that we recognize over the term of the agreements. We
follow the guidance of the Securities and Exchange Commission’s Staff Accounting
Bulletin 104 (“SAB No. 104”) for revenue recognition. We will recognize revenue
when it is realized or realizable and earned. We consider revenue realized or
realizable and earned when it has persuasive evidence of an arrangement that the
services have been rendered to the customer, the sales price is fixed or
determinable, and collectability is reasonably assured.





Income
taxes





We follow
SFAS No. 109, “Accounting for Income Taxes.” Under the asset and liability
method of SFAS No. 109, deferred tax assets and liabilities are recognized for
the future tax consequences attributable to differences between the financial
statement carrying amounts of existing assets and liabilities and their
respective tax bases. A valuation allowance has been provided for the Company's
net deferred tax asset, due to uncertainty of realization.





Effective
January 1, 2007, we adopted Financial Accounting Standard Board Interpretation
No. 48 Accounting for Uncertainty in Income Taxes (“FIN 48”). FIN 48 clarifies
the accounting for uncertainty in income taxes recognized in an enterprise’s
financial statements in accordance with SFAS Statement No. 109 Accounting for
Income Taxes. FIN 48 prescribes a recognition threshold and measurement
attributes for the financial statement recognition and measurement of a tax
position taken or expected to be taken in tax return. FIN 48 also provides
guidance on derecognition, classification, interest and penalties, accounting
interim period, disclosure and transition. There were no adjustments required
upon adoption of FIN 48.






-6-





Net
loss per common share





Net loss
per common share is computed pursuant to Statement of Financial Accounting
Standards No. 128 “Earnings Per Share”  (“SFAS No.
128”).  Basic net loss per share is computed by dividing net loss by
the weighted average number of shares of common stock outstanding during the
period. Diluted net loss per share is computed by dividing net loss by the
weighted average number of shares of common stock and potentially outstanding
shares of common stock during each period. There were no potentially dilutive
shares outstanding as of December 31, 2008.





Recently
Issued Accounting Pronouncements





In
December 2007, the FASB issued FASB Statement No. 141 (Revised 2007) “Business
Combinations”  (“SFAS No. 141(R)”), which requires the Company to
record fair value estimates of contingent consideration and certain other
potential liabilities during the original purchase price allocation, expense
acquisition costs as incurred and does not permit certain restructuring
activities previously allowed under Emerging Issues Task Force Issue No. 95-3 to
be recorded as a component of purchase accounting.  SFAS No.
141(R) applies prospectively to business combinations for which the acquisition
date is on or after the beginning of the first annual reporting period beginning
on or after December 15, 2008, except for the presentation and disclosure
requirements, which shall be applied retrospectively for all periods presented.
The Company will adopt this standard at the beginning of the Company’s year
ending December 31, 2008 for all prospective business acquisitions. The Company
has not determined the effect that the adoption of SFAS No. 141(R) would have on
the financial results of the Company.





In
December 2007, the FASB issued FASB Statement No. 160 “Noncontrolling Interests
in Consolidated Financial Statements - an amendment of ARB No. 51” (“SFAS No.
160”), which causes noncontrolling interests in subsidiaries to be included in
the equity section of the balance sheet.  SFAS No. 160 applies
prospectively to business combinations for which the acquisition date is on or
after the beginning of the first annual reporting period beginning on or after
December 15, 2008, except for the presentation and disclosure requirements,
which shall be applied retrospectively for all periods presented.  The
Company will adopt this standard at the beginning of the Company’s year
ending December 31, 2008 for all prospective business
acquisitions.  The Company has not determined the effect that the
adoption of SFAS No. 160 would have on the financial results of the
Company.




In March
2008, the FASB issued SFAS No. 161, “Disclosures about Derivative
Instruments and Hedging Activities, an amendment of FASB Statement No. 133”
(SFAS 161). This statement is intended to improve transparency in financial
reporting by requiring enhanced disclosures of an entity’s derivative
instruments and hedging activities and their effects on the entity’s financial
position, financial performance, and cash flows. SFAS 161 applies to all
derivative instruments within the scope of SFAS 133, “Accounting for Derivative
Instruments and Hedging Activities” (SFAS 133) as well as related hedged items,
bifurcated derivatives, and nonderivative instruments that are designated and
qualify as hedging instruments. Entities with instruments subject to SFAS 161
must provide more robust qualitative disclosures and expanded quantitative
disclosures. SFAS 161 is effective prospectively for financial statements issued
for fiscal years and interim periods beginning after November 15, 2008,
with early application permitted. We are currently evaluating the disclosure
implications of this statement.





In May
2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted
Accounting Principles.” SFAS No. 162 identifies the sources of accounting
principles and provides entities with a framework for selecting the principles
used in preparation of financial statements that are presented in conformity
with GAAP. The current GAAP hierarchy has been criticized because it is directed
to the auditor rather than the entity, it is complex, and it ranks FASB
Statements of Financial Accounting Concepts, which are subject to the same level
of due process as FASB Statements of Financial Accounting Standards, below
industry practices that are widely recognized as generally accepted but that are
not subject to due process. The Board believes the GAAP hierarchy should be
directed to entities because it is the entity (not its auditors) that is
responsible for selecting accounting principles for financial statements that
are presented in conformity with GAAP. The adoption of FASB 162 is not expected
to have a material impact on the Company’s financial position.




In May
2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee
Insurance Contracts-an interpretation of FASB Statement No. 60.” Diversity
exists in practice in accounting for financial guarantee insurance contracts by
insurance enterprises under FASB Statement No. 60, Accounting and Reporting by
Insurance Enterprises. This results in inconsistencies in the recognition and
measurement of claim liabilities. This Statement requires that an insurance
enterprise recognize a claim liability prior to an event of default (insured
event) when there is evidence that credit deterioration has occurred in an
insured financial obligation. This Statement requires expanded disclosures
about financial guarantee insurance contracts. The accounting and disclosure
requirements of the Statement will improve the quality of information provided
to users of financial statements. The adoption of FASB 163 is not expected to
have a material impact on the Company’s financial position.







-7-







Item 7A.
Quantitative and Qualitative Disclosures About Market
Risk.





Not
required for smaller reporting companies.





Item 8.Financial
Statements and Supplementary Data




The
financial statements of the Company, together with the Reports of Independent
Registered Public Accounting Firm thereon of Webb & Company, P.A., appear
herein. See Index to Financial Statements, appearing on page F-1.




Item 9.Changes In and
Disagreements With Accountants on Accounting and Financial
Disclosure





There
have been no changes in or disagreements with accountants on accounting or
financial disclosure matters.





Item
9A.   Controls and Procedures.





a)  
Evaluation of Disclosure
Controls. Jesper Toft, our Chief Executive Officer and Principal
Accounting Officer, evaluated the effectiveness of our disclosure controls and
procedures as of the end of our fourth fiscal quarter 2008 pursuant to Rule
13a-15(b) of the Securities and Exchange Act. Disclosure controls and procedures
are controls and other procedures that are designed to ensure that information
required to be disclosed by us in the reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the SEC’s rules and forms. Disclosure controls and
procedures include, without limitation, controls and procedures designed to
ensure that information required to be disclosed by us in the reports that we
file under the Exchange Act is accumulated and communicated to our management,
as appropriate to allow timely decisions regarding required disclosure. Based on
their evaluations, Jesper Toft concluded that our disclosure controls and
procedures were effective as of December 31, 2008.





It should
be noted that any system of controls, however well designed and operated, can
provide only reasonable, and not absolute, assurance that the objectives of the
system are met. In addition, the design of any control system is based in part
upon certain assumptions about the likelihood of future events. Because of these
and other inherent limitations of control systems, there can be no assurance
that any design will succeed in achieving its stated goals under all potential
future conditions.





(b)
  Changes in internal
control over financial reporting. There have been no changes in our
internal control over financial reporting that occurred during the last fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, our internal control over financial reporting. Our management team will
continue to evaluate our internal control over financial reporting in 2009 as we
implement our Sarbanes Oxley Act testing.






PART
III




Item
10.  Directors, Executive Officers and Corporate
Governance




Our
executive officer’s and director’s and their respective ages as of March 5, 2009
are as follows:




NAME
              AGE
              POSITIONJesper
      Toft
              38
              Chairman
      of the Board of Directors, Chief Executive Officer,Chief
      Financial Officer





Set forth
below is a brief description of the background and business experience of our
sole executive officer and director for the past five years.





Jesper
Toft, Chairman, CEO, CFO





Mr. Toft
has been the owner of Toft ApS since May 2003, a Denmark-based company, which
provides business development for companies.  Mr. Toft has extensive
management experience from several start-up companies. His core competence is
business development, strategy, building sales and marketing and financing. Mr.
Toft has been advising large enterprises regarding strategic development and
participated in contract negotiations since 1997.





Term of
Office




Our sole
director, Jesper Toft, was appointed to the offices of Chief Executive Officer,
Chief Financial Officer and Chairman on April 18, 2008 until the first board
meeting of the board of directors ensuing after the next annual meeting of
shareholders and until their respective successors in said offices are duly
elected and qualified or until his earlier resignation or removal by the
board.







-8-






Item
11.  Executive Compensation




Summary Compensation Table;
Compensation of Executive Officers





The
following summary compensation table sets forth all compensation awarded to,
earned by, or paid to the named executive officers earned by us during the
period from April 18, 2008 (Inception) to December 31, 2008 in all capacities
for the accounts of our executives, including the Chief Executive Officer (CEO)
and Chief Financial Officer (CFO):




SUMMARY
COMPENSATION TABLE




Name
      and Principal Position
              
              Year
              
              Salary
                ($)
              
              Bonus
                ($)
              
              Stock
      Awards
                ($)
              
              Option
      Awards
                ($)
              
              Non-Equity Incentive Plan
      Compensation ($)
              
              Non-Qualified
      Deferred Compensation Earnings
                ($)
              
              All
      Other Compensation
                ($)
              
              Totals
                ($)Jesper
      Toft:
                CEO,
      CFO, Chairman
              
              
              2008
              
              8,000
              
              
              0
              
              50,000
              
              
              0
              
              0
              
              
              0
              
              0
              
              
              58,000




Option Grants
Table.There were
no individual grants of stock options to purchase our common stock made to the
executive officers named in the Summary Compensation Table through December 31,
2008.





Aggregated
Option Exercises and Fiscal Year-End Option Value Table.There were no stock options
exercised during the year ended December 31, 2008 by the executive officers
named in the Summary Compensation Table.





Long-Term Incentive Plan
(“LTIP”) Awards Table.There were no awards made to the named executive officer in the last
completed fiscal year under any LTIP.




Compensation of
Directors





Directors
are permitted to receive fixed fees and other compensation for their services as
directors. The Board of Directors has the authority to fix the compensation of
directors. No amounts have been paid to, or accrued to, directors in such
capacity.





Employment
Agreements





As of
December 31, 2008, we do not have an employment agreement in place with our sole
officer and director.





Item 12. Security
Ownership of Certain Beneficial Owners and Management





The
following table provides the names and addresses of each person known to us to
own more than 5% of our shares to be issued of common stock as of March 5, 2009
and by the officers and directors, individually and as a group. Except as
otherwise indicated, all shares are owned directly.





Title
      of Class
              Name
      and Address
                of
      Beneficial Owner
              Amount
      and Nature
                of
      Beneficial Owner
              Percent
                of
      ClassCommon
      Stock
              Toft
      ApS
                Roennegade
      9,
                2100
      Copenhagen Oe,
                Denmark
              10,000,000
              88.11%
      (1)Common
      Stock
              All
      executive officers and directors as a group
              10,000,000
              88.11%
      (1)Series
      A Convertible
                Preferred Stock
              Jesper
      Toft
                Frisersvej 22 C
                2920 Copenhagen Oe,
                Denmark
              100,000
              100.00%





(1)  Based
upon 11,350,030 common shares issued and outstanding as of March 5,
2009.







-9-






Item
13.  Certain Relationships and Related Transactions, and Director
Independence




On May
30, 2008, pursuant to a Separation and Distribution Agreement, we were spun out
from Visator, Inc., ceasing to be their wholly owned
subsidiary.  Visator remains our only customer.





Our sole
officer and director, Jesper Toft, is also the sole officer and director of
Visator, Inc.




On June
30, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,000 to pay for incorporation filing fees of the
Company.





On July
24, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,789 to pay for the Company’s website and
design.





On July
23, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $64 to pay for incorporation filing fees of the
Company.




On July
2, 2008, we executed a $35,000 promissory note to Toft ApS, a wholly owned
company of Jesper Toft, the Chief Executive Officer, President and Director of
the Company, in exchange for $35,000 cash.  The note is due on demand
and bears no interest.





On July
16, 2008, we authorized the issuance of 100,000 Series A Convertible Preferred
Stock to Jesper Toft, the Chief Executive Officer, at its par value of
$0.001.  This compensation was for services rendered in relation to
the filing of the Company’s registration statement.





On August
18, 2008, the Company received a loan from Toft ApS, a wholly owned company of
Jesper Toft, the Chairman of the Board of Directors, Chief Executive Officer and
Chief Financial Officer of the Company, in the amount of $10,000 for funding the
Company’s operating expenses.  The note is due on demand, unsecured
and bears no interest.





Item 14.
Principal Accountant Fees and Services




Audit
Fees




Audit
fees for 2008 were $8,933.  All services provided by
independent accountants were approved by the audit committee.  Audit
Fees consist of fees billed for professional services rendered for the audit of
the Company’s registration and annual statements, for review of interim
financial statements included in quarterly reports and services that are
normally provided by Webb & Company P.A. in connection with statutory
and regulatory filings or engagements.




Audit
Related Fees




The
Company did not incur non audit related fees from Webb & Company
P.A.  in 2008.  Audit-Related Fees consist of fees billed
for assurance and related services that are reasonably related to the
performance of the audit or review of the Company’s financial statements and are
not reported under “Audit Fees.”





Tax
Fees





The
Company did not incur tax fees from Webb & Company P.A. in 2008. Tax Fees
consist of fees billed for professional services rendered for tax compliance.
These services include assistance regarding federal, state and local tax
compliance.





All Other
Fees





The
Company did not incur any other fees from Webb & Company P.A. in 2008. The
Audit Committee meets with the independent auditor prior to the audit and
discusses the planning and staffing of the audit, approves in advance the
engagement of the independent auditor for all audit services and non-audit
services and approves the fees and other terms of any such engagement, and
obtains periodically from the independent auditor a formal verbal communication
of the matters required to be discussed by Statements of Auditing Standards No.
61 and SEC Rule 10(a).  In addition, the Company obtains a letter
describing all relationships between the auditor and the Company and discusses
with the auditor any disclosed relationships or services that may impact auditor
objectivity and independence.









-10-




PART
IV






Item
15.Exhibits and Financial
Statement Schedules




(a)
            Exhibits
      and Financial Statements




(1)
            Financial
      Statements.  See Index to Financial
  Statements




(2)
            Financial
      Statement Schedules.  See pages 18 through 22,
      attached




(3)
            Exhibits






-11-







INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)


FORM
10-K


YEAR
ENDED DECEMBER 31, 2008






TABLE OF
CONTENTS








PagePART
      I - FINANCIAL INFORMATIONReport
      of Independent Registered Public Accounting Firm
                          
                          13Balance
      Sheet at December 31, 2008
                          
                          14Statement
      of Operations for the Period from April 18, 2008 (Inception) through
      December 31, 2008
                          
                          15Statement
      of Changes in Stockholders' Deficit for the period from April 18, 2008
      (Inception) through December 31, 2008
                          16Statement
      of Cash Flows for the Period from April 18, 2008 (Inception) through
      December 31, 2008
                          
                          17Notes
      to the Financial Statements
                          
                          18-22








-12-





Webb
      & Company, PA.Certified
      Public Accountants







REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM








To the
Board of Directors of:


Inscrutor
Inc.




We have
audited the accompanying balance sheet of Inscrutor Inc. (a development stage
Company) (the “Company”) as of December 31, 2008 and the related statement of
operations, changes in stockholders’ deficit and cash flows for the period from
April 18, 2008 (Inception) to December 31, 2008. These financial statements are
the responsibility of the Company’s management. Our responsibility is to express
an opinion on these financial statements based on our audit.





We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.





In our
opinion, the financial statements referred to above present fairly in all
material respects, the financial position of Inscrutor Inc. (a development stage
Company) as of December 31, 2008 and the results of its operations and its cash
flows for the period from April 18, 2008 (Inception) to December 31, 2008, 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 2 to the financial
statements, Company is in the development stage with a net loss since inception
of $131,198, a working capital deficiency of $59,422, a stockholders’ deficit of
$57,429 and net cash used in operations since inception of $46,015. These
factors raise substantial doubt about the Company's ability to continue as a
going concern.  Management's plans concerning these matters are also
described in Note 2. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.








WEBB
& COMPANY, P.A.


Certified
Public Accountants





Boynton
Beach, Florida


February
4, 2009









-13-





INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)
  Balance
Sheet at December 31, 2008








April
      18, 2008 (Inception) -December
      31, 2008ASSETSCurrent
      Assets:Cash
                        
                        $
                        49Accounts
      receivable
                        
                        
                        9,000Total
      Current Assets
                        
                        
                        9,049Property,
      Plant & Equipment:Website
      costs, net of accumulated amortization of $261
                        
                        
                        1,528Other
      Assets:Security
      deposits
                        
                        
                        465TOTAL
      ASSETS
                        
                        $
                        11,042LIABILITIES
      AND STOCKHOLDERS' DEFICITAccounts
      payable and accrued expenses
                        
                        $
                        17,618Accrued
      expenses - related party
                        
                        
                        3,000Loans
      payable - related party
                        
                        
                        2,853Notes
      payable - related party
                        
                        
                        45,000TOTAL
      LIABILITIES
                        
                        
                        68,471COMMITMENTS
      AND CONTINGENCIESSTOCKHOLDERS'
      DEFICITSeries
      A Convertible Preferred stock - $.001 par value; 100,000
      sharesauthorized;
      100,000 to be issued
                        
                        
                        100Preferred
      stock - $.001 par value; 9,900,000 shares authorized;none
      issued and outstanding
                        
                        
                        -Common
      stock - $.001 par value; 100,000,000 shares authorized;11,350,030
      shares to be issued
                        
                        
                        11,350Additional
      paid-in capital
                        
                        
                        73,624Accumulated
      deficit during the development stage
                        
                        
                        (142,503
                        )TOTAL
      STOCKHOLDERS' DEFICIT
                        
                        
                        (57,429
                        )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIT
                        
                        $
                        11,042





See
accompanying notes to the financial statements.






-14-





INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)




Statement
of Operations


For
the Period from April 18, 2008 (Inception) through December 31,
2008





April
      18, 2008 (Inception) - December 31, 2008REVENUE
      - Related Party
                            
                            $
                            21,000COST
      OF GOODS SOLD
                            
                            
                            8,050GROSS
      PROFIT
                            
                            
                            12,950Selling,
      general & administrative expenses:Consulting
      fees and services - related party
                            
                            
                            58,000Professional
      fees
                            
                            
                            79,174Other
      general & administrative expenses
                            
                            
                            5,705Total
      operating expenses
                            
                            
                            142,879Loss
      from operations
                            
                            
                            (129,929
                            )Other
      expense:Interest
      expense
                            
                            
                            (1,269
                            )Total
      other expense
                            
                            
                            (1,269
                            )NET
      LOSS BEFORE PROVISION FOR INCOME TAXES
                            
                            
                            (131,198
                            )Provision
      for income taxes
                            
                            
                            -NET
      LOSS
                            
                            $
                            (131,198
                            )Basic
      and diluted net loss per weighted-average shares common
    stock
                            
                            $
                            (0.01
                            )Weighted-average
      number of shares of common stock to be issued
                            
                            
                            11,336,898





See
accompanying notes to the financial statements.




-15-





INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)




Statement
of Changes in Stockholders' Deficit


For
the Period from April 18, 2008 (Inception) through December 31,
2008




AccumulatedSeries
      A Convertible
                  
                  
                  Additional
                  
                  
                  Deficit
      during
                    theCommon
      Stock
                  
                  
                  Preferred
      Stock
                  
                  
                  Paid-in
                  
                  
                  developmentShares
                  
                  
                  Par
      Value
                  
                  
                  Shares
                  
                  
                  Par
      Value
                  
                  
                  Capital
                  
                  
                  stage
                  
                  
                  TotalBalance
      April 18, 2008 (Inception)
                  
                  
                  11,305,030
                  
                  
                  $
                  11,305
                  
                  
                  
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  (11,305
                  )
                  
                  $
                  -Series
      A Preferred stock issued for consulting services - related
      party
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  100,000
                  
                  
                  
                  100
                  
                  
                  
                  49,900
                  
                  
                  
                  -
                  
                  
                  
                  50,000Common
      stock issued for professional services
                  
                  
                  45,000
                  
                  
                  
                  45
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  22,455
                  
                  
                  
                  -
                  
                  
                  
                  22,500In-kind
      contribution of interest expense
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  1,269
                  
                  
                  
                  -
                  
                  
                  
                  1,269Net
      loss for the period from April 18, 2008 (inception) to December 31,
      2008
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (131,198
                  )
                  
                  
                  (131,198
                  )Balance
      December 31, 2008
                  
                  
                  11,350,030
                  
                  
                  $
                  11,350
                  
                  
                  
                  100,000
                  
                  
                  $
                  100
                  
                  
                  $
                  73,624
                  
                  
                  $
                  (142,503
                  )
                  
                  $
                  (57,429
                  )





See
accompanying notes to the financial statements.






-16-






INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)




Statement
of Cash Flows


For
the Period from April 18, 2008 (Inception) through December 31,
2008








April
      18, 2008 (Inception) - December 31, 2008CASH
      FLOWS FROM OPERATING ACTIVITIESNet
      loss
                                
                                $
                                (131,198
                                )Adjustments
      to reconcile net loss to cash used in operating
activities:Series
      A Convertible Preferred Stock issued for services - related
      party
                                
                                
                                50,000Common
      stock Issued for services
                                
                                
                                22,500In-kind
      contribution of interest expense
                                
                                
                                1,269Amortization
      expense
                                
                                
                                261Changes
      in operating assets and liabilities:Increase
      in accounts receivable
                                
                                
                                (9,000
                                )Increase
      in security deposits
                                
                                
                                (465
                                )Increase
      in accounts payable and accrued expenses
                                
                                
                                20,618NET
      CASH USED IN OPERATING ACTIVITIES
                                
                                
                                (46,015
                                )CASH
      FLOWS FROM INVESTING ACTIVITIESPurchase
      of property, plant & equipment
                                
                                
                                (1,789
                                )NET
      CASH PROVIDED BY USED IN INVESTING ACTIVITIES
                                
                                
                                (1,789
                                )CASH
      FLOWS FROM FINANCING ACTIVITIESProceeds
      from loans payable -related related party
                                
                                
                                2,853Proceeds
      from notes payable - related party
                                
                                
                                45,000NET
      CASH PROVIDED BY FINANCING ACTIVITIES
                                
                                
                                47,853NET
      INCREASE IN CASH
                                
                                
                                49Cash,
      beginning of period
                                
                                
                                -Cash,
      END OF PERIOD
                                
                                $
                                49Supplementary
      disclosures of cash flow informationCash
      paid during the period for:Income
      taxes
                                
                                $
                                -Interest
      paid
                                
                                $
                                -





See
accompanying notes to the financial statements.




-17-





INSCRUTOR,
INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
THE FINANCIAL STATEMENTS




NOTE
1 – ORGANIZATION




Inscrutor,
Inc.  (“Inscrutor” or the “Company”), a development stage company, was
incorporated on April 18, 2008 under the laws of the State of Delaware.
Inscrutor owns, manages, and intends to exploit a sophisticated data mining
technology primarily useful for organizations, which are involved in the
handling of masses of unstructured textual information. Such information often
comprises that which is available via the Internet, but can also include
databases, etc. that are owned internally by those organizations. The Company
plans to derive revenue from its technology mainly through license agreements
with information-intensive organizations and others with related needs. Further
development will focus on organizations that need to share and control data from
among two or more internal information systems with different structures or
specifications; organizations that desire to include a sophisticated searching
device on their websites as a visitor aide; and organizations desiring to
construct customized search and monitoring facilities over unique data sources.
Activities during the development stage involve developing the business plan and
raising capital.





The
technology that the Company owns was acquired via a Separation and Distribution
Agreement on May 30, 2008 from Visator, Inc. (“Visator”), a Delaware corporation
that specializes in on-line media monitoring. Prior to that time, Inscrutor was
a wholly-owned subsidiary of Visator. Inscrutor was spun out from Visator with
the purpose of ensuring optimal value-creation for the shareholders of both
Inscrutor and Visator.  According to the terms of the Separation
Agreement, Visator decided to distribute the common stock of Inscrutor on a
1-for-1 basis to the holders of Visator’s common and preferred stock (“the
Distribution”). On June 1, 2008 (the "Distribution Date"), Visator transferred
its shares of Inscrutor to the shareholders of record of Visator common
stock and preferred stock at the close of business on May 30, 2008 (the "Record
Date"), without any consideration being paid by such holders. As of October
9, 2008, the stock certificates were delivered to
shareholders.  Currently, we derive revenue from a management services
agreement with Visator.




NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





Going
concern





The
accompanying financial statements have been prepared under a going concern basis
which contemplates the realization of assets and liquidation of liabilities in
the normal course of business. However, the Company is in the development stage
with a net loss since inception of $131,198, a working capital deficiency of
$59,422, a stockholders’ deficit of $57,429 and net cash used in operations
since inception of $46,015. These factors raise substantial doubt about the
Company’s ability to continue as a going concern. The Company does not have
enough cash to continue operations for twelve months without receiving
additional debt or equity financing or increasing our revenues.





Management
is pursuing other business relationships and believes that the actions presently
being taken and the success of future operations will be sufficient to enable
the Company to continue as a going concern.





However,
there can be no assurance that the raising of equity will be successful and that
the Company’s anticipated financing will be available in the future, at terms
satisfactory to the Company. Failure to achieve the equity and financing at
satisfactory terms and amounts could have a material adverse effect on the
Company’s ability to continue as a going concern. The financial statements do
not include any adjustments that might result from the outcome of this
uncertainty.





Use
of estimates





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





Revenue
recognition





The
Company’s revenues are derived from advisory and technology consulting services
related to software maintenance over the term of the agreements. The Company
follows the guidance of the Securities and Exchange Commission’s Staff
Accounting




Bulletin
104 (“SAB No. 104”) for revenue recognition. The Company will recognize revenue
when it is realized or realizable and earned. The Company considers revenue
realized or realizable and earned when it has persuasive evidence of an
arrangement that the services have been rendered to the customer, the sales
price is fixed or determinable, and collectability is reasonably
assured.









-18-







NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CONTINUED





Cash
and cash equivalents





For
purposes of the cash flow statements, the Company considers all highly liquid
investments with original maturities of three months or less at the time of
purchase to be cash equivalents.




Website
Development Costs





The
Company has adopted the provisions of EITF 00-2, “Accounting for Website
Development Costs.” Costs incurred in the planning stage of a website are
expensed, while costs incurred in the development state are capitalized and
amortized over the estimated three year life of the asset. For the year ended
December 31, 2008, the Company paid $1,789 to develop its website.





Income
taxes





The
Company follows SFAS No. 109, “Accounting for Income Taxes.” Under the asset and
liability method of SFAS No. 109, deferred tax assets and liabilities are
recognized for the future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and
their respective tax bases. A valuation allowance can be provided for a net
deferred tax asset, due to uncertainty of realization. As of December 31, 2008,
the Company has a net operating loss carryforward of approximately $129,929
available to offset future taxable income through 2028. The valuation allowance
at December 31, 2008 was $43,915.





Net
loss per common share





Net loss
per common share is computed pursuant to Statement of Financial Accounting
Standards No. 128 “Earnings Per Share”  (“SFAS No.
128”).  Basic net loss per share is computed by dividing net loss by
the weighted average number of shares of common stock outstanding during the
period. Diluted net loss per share is computed by dividing net loss by the
weighted average number of shares of common stock and potentially outstanding
shares of common stock during each period. 100,000 Series A convertible
Performed shares were omitted from the calculation of earnings per share-
diluted as their inclusion is anti-dilutive as of December 31,
2008.





Recently
Issued Accounting Pronouncements





In
December 2007, the FASB issued FASB Statement No. 141 (Revised 2007) “Business
Combinations”  (“SFAS No. 141(R)”), which requires the Company to
record fair value estimates of contingent consideration and certain other
potential liabilities during the original purchase price allocation, expense
acquisition costs as incurred and does not permit certain restructuring
activities previously allowed under Emerging Issues Task Force Issue No. 95-3 to
be recorded as a component of purchase accounting.  SFAS No.
141(R) applies prospectively to business combinations for which the acquisition
date is on or after the beginning of the first annual reporting period beginning
on or after December 15, 2008, except for the presentation and disclosure
requirements, which shall be applied retrospectively for all periods presented.
The Company has adopted this standard at the beginning of the Company’s year
ending December 31, 2008 for all prospective business acquisitions. The Company
has not determined the effect that the adoption of SFAS No. 141(R) would have on
the financial results of the Company.




In
December 2007, the FASB issued FASB Statement No. 160 “Noncontrolling Interests
in Consolidated Financial Statements - an amendment of ARB No. 51” (“SFAS No.
160”), which causes noncontrolling interests in subsidiaries to be included in
the equity section of the balance sheet.  SFAS No. 160 applies
prospectively to business combinations for which the acquisition date is on or
after the beginning of the first annual reporting period beginning on or after
December 15, 2008, except for the presentation and disclosure requirements,
which shall be applied retrospectively for all periods presented.  The
Company has adopted this standard at the beginning of the Company’s year
ending December 31, 2008 for all prospective business
acquisitions.  The Company has not determined the effect that the
adoption of SFAS No. 160 would have on the financial results of the
Company.








-19-











NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CONTINUED





Recently
Issued Accounting Pronouncements continued




In May
2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted
Accounting Principles.” SFAS No. 162 identifies the sources of accounting
principles and provides entities with a framework for selecting the principles
used in preparation of financial statements that are presented in conformity
with GAAP. The current GAAP hierarchy has been criticized because it is directed
to the auditor rather than the entity, it is complex, and it ranks FASB
Statements of Financial Accounting Concepts, which are subject to the same level
of due process as FASB Statements of Financial Accounting Standards, below
industry practices that are widely recognized as generally accepted but that are
not subject to due process. The Board believes the GAAP hierarchy should be
directed to entities because it is the entity (not its auditors) that is
responsible for selecting accounting principles for financial statements that
are presented in conformity with GAAP. The adoption of FASB 162 is not expected
to have a material impact on the Company’s financial position.





In May
2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee
Insurance Contracts-an interpretation of FASB Statement No. 60.” Diversity
exists in practice in accounting for financial guarantee insurance contracts by
insurance enterprises under FASB Statement No. 60, Accounting and Reporting by
Insurance Enterprises. This results in inconsistencies in the recognition and
measurement of claim liabilities. This Statement requires that an insurance
enterprise recognize a claim liability prior to an event of default (insured
event) when there is evidence that credit deterioration has occurred in an
insured financial obligation. This Statement requires expanded disclosures
about financial guarantee insurance contracts. The accounting and disclosure
requirements of the Statement will improve the quality of information provided
to users of financial statements. The adoption of FASB 163 is not expected to
have a material impact on the Company’s financial position.





Fair Value of Financial
Instruments





The
carrying amounts reported in the balance sheet for the accounts receivable,
accounts payable, accrued expenses, loans payable – related party and notes
payable – related party approximate fair value based on the short-term maturity
of these instruments.





NOTE 3 – PROPERTY AND
EQUIPMENT




At
December 31, 2008, property and equipment is as follows:




2008Website
      costs
                            
                            $
                            1,789Less
      accumulated amortization
                            
                            
                            261$
                            1,528




Amortization
expense for the year ended December 31, 2008 was $261.





NOTE 4 – CONCENTRATION
RISK




For the
period from April 18, 2008 (inception) to December 31, 2008, the Company had one
customer, Visator, who individually accounted for 100% of total revenues in the
amount of $21,000.  This customer is also a related
party.  While the Company believes the relationship with the
customer is stable, a significant decrease or interruption in business from the
significant customer could have a material adverse effect on the Company’s
business, financial condition and results of operations. The Company plans
to greatly expand their customer base in the upcoming year to mitigate this risk
(See Note 10).





As of
December 31, 2008, the Company has an accounts receivable balance of $9,000.
This amount is owed by one customer, Visator, a related party (See Note
10).





NOTE
5 – LOANS PAYABLE – RELATED PARTY





On June
30, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,000 to pay for incorporation filing fees of the
Company. The loan is due on demand, unsecured and bears no interest (See Note
10).




-20-







On July
24, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,789 to pay for the Company’s website and design.
The loan is due on demand, unsecured and bears no interest (See Note
10).





On July
23, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $64 to pay for incorporation filing fees of the
Company. The loan is due on demand, unsecured and bears no interest (See
Note 10).




NOTE
6 – NOTES PAYABLE – RELATED PARTY





On July
2, 2008, the Company executed a $35,000 promissory note to Toft ApS, a wholly
owned company of Jesper Toft, the Chairman of the Board of Directors, Chief
Executive Officer and Chief Financial Officer of the Company, in exchange for
$35,000 cash.  The note is due on demand, unsecured and bears no
interest (See Note 10).





On August
18, 2008, the Company a promissory note to Toft ApS, a wholly owned company of
Jesper Toft, the Chairman of the Board of Directors, Chief Executive Officer and
Chief Financial Officer of the Company, in the amount of $10,000 for funding the
Company’s operating expenses.  The note is due on demand, unsecured
and bears no interest (See Note 10).





NOTE
7 – STOCKHOLDERS’ EQUITY





The
Company was incorporated on April 18, 2008. The Company authorized 100,000,000
shares of common stock with a par value of $.001 and 10,000,000 shares of
preferred stock with a par value of $.001, of which 100,000 shares are
designated as Series A Convertible Preferred Stock.  Per the
Distribution agreement, as of June 1, 2008, the Company is committed to issuing
11,305,030 shares of common stock, par value $.001, to the shareholders of
Visator.  As of October 9, 2008, the shares were issued (See Note
1).





On July
2, 2008, the Company authorized the issuance of 20,000 shares of common stock to
Anslow & Jaclin LLP for legal services related to the registration of the
Company.  As of December 31, 2008, the Company has recorded the fair
value of $10,000 in legal fees for the share issuance.





On July
2, 2008, the Company authorized the issuance of 25,000 shares of common stock to
Profit Planners, Inc. for accounting services related to the registration of the
Company.  As of December 31, 2008, the Company has recorded the fair
value of $12,500 in consulting fees.





On July
16, 2008, the Company authorized the issuance of 100,000 Series A Convertible
Preferred Stock to Jesper Toft, the Chief Executive Officer.  This
compensation for services is contingent upon the filing of the Company’s
registration statement, which became effective on October 21,
2008.  As of December 31, 2008, the Company has recorded the fair
value of $50,000 in consulting fees to Jesper Toft.





The
Series A Convertible Preferred stockholders are entitled to receive, when and if
declared by the Board of Directors out of funds legally available for the
purpose, quarterly dividends payable in cash on the first day of April, July,
October and January in each year (the “Quarterly dividend payment
date”).  The quarterly dividend payment date could begin after the
first issuance of a share of Series A Convertible Preferred
Stock.  The Series A Convertible Preferred stockholders are entitled
to 1,000 votes per each share they hold on all matters submitted to a vote of
the stockholders of the Company.  At any time on or after the issuance
date, the holders of Series A Convertible Preferred shares may convert a portion
or all of their shares into Common stock on a one to one basis.





As of
December 31, 2008, $1,269 was recorded as an in kind contribution of interest on
related party loans.





NOTE
8 – MANAGEMENT AGREEMENT





As part
of the terms of the Separation Agreement described in Note 1, on June 1, 2008,
Visator entered into a twelve month Management Services Agreement with the
Company for consulting services pertaining to software maintenance provided to
Visator’s management. The agreement provides for a management fee of $3,000 per
month to be paid to the Company.   For the period from April 18, 2008
(Inception) to December 31, 2008, the Company has recorded revenue of $21,000 to
reflect seven months worth of services (See Note 8).







-21-








NOTE
9 – COMMITMENTS AND CONTINGENCIES





Operating
lease





The
Company does not currently have an operating lease for their office located in
New York City.  Office expense fees of approximately $200 are paid on
a month to month basis for basic office services.





Consulting
agreement- Related party





Effective
May 1, 2008, the Company entered into a consulting agreement with Jesper Toft,
CEO, to provide consulting services from May 2008 to December 2008 at a rate of
$1,000 per month.  As of December 31, 2008, the Company has recorded a
related party liability of $3,000 based on this agreement (See Note 7) and
expenses of $8,000.





Consulting
agreement





On June
1, 2008, the Company entered into a consulting agreement with Jude Dixon to
provide maintenance services from June 1, 2008 to May 31, 2009 at a rate of
$1,150 per month.





NOTE
10 – RELATED PARTY TRANSACTIONS





For the
period from April 18, 2008 (inception) to December 31, 2008, the Company had one
customer, Visator, who individually accounted for 100% of total revenues in the
amount of $21,000.  This customer is also a related party (See Note
4).





As of
December 31, 2008, the Company has an accounts receivable balance of $9,000.
This amount is owed by one customer, Visator, a related party (See Note
4).





Effective
May 1, 2008, the Company entered into a consulting agreement with Jesper Toft,
the Chairman of the Board of Directors, Chief Executive Officer and Chief
Financial Officer of the Company, to provide consulting services from May 2008
to December 2008 at a rate of $1,000 per month.  As of December 31,
2008, the Company has recorded a related party liability of $3,000 based on this
agreement (See Note 9) and expenses of $8,000.





On June
30, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,000 to pay for incorporation filing fees of the
Company. The loan is due on demand, unsecured and bears no interest (See
Note 5).





On July
24, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $1,789 to pay for the Company’s website and
design. The loan is due on demand, unsecured and bears no
interest  (See Note 5).





On July
23, 2008, the Company received a loan from Jesper Toft, the Chairman of the
Board of Directors, Chief Executive Officer and Chief Financial Officer of the
Company, in the amount of $64 to pay for incorporation filing fees of the
Company. The loan is due on demand, unsecured and bears no
interest  (See Note 5).




On July
2, 2008, the Company executed a $35,000 promissory note to Toft ApS, a wholly
owned company of Jesper Toft, the Chairman of the Board of Directors, Chief
Executive Officer and Chief Financial Officer of the Company, in exchange for
$35,000 cash.  The note is due on demand, unsecured and bears no
interest (See Note 6).





On August
18, 2008, the Company executed a promissory note to Toft ApS, a wholly owned
company of Jesper Toft, the Chairman of the Board of Directors, Chief Executive
Officer and Chief Financial Officer of the Company, in exchange for $10,000 for
funding the Company’s operating expenses.  The note is due on demand,
unsecured and bears no interest (See Note 6).





NOTE
11 – SUBSEQUENT EVENTS





Operating
lease





In
January 2009, the Company amended the month to month fee for basic office
services to approximately $250 per month.






-22-









Exhibits





Exhibit
No.




14.1
                Code
      of Ethics31.1
                Rule
      13a-14(a)/15d-14(a) Certification of Chief Executive
    Officer




31.2
            Rule
      13a-14(a)/15d-14(a) Certification of the Principal Accounting
      Officer




32.1
            Certification
      Pursuant to 18 U.S.C. §1350 of Chief Executive
  Officer




32.2
            Certification
      Pursuant to 18 U.S.C. §1350 of the Principal Accounting
      Officer







-23-




SIGNATURES
   In
accordance with Section 13(a) or 15(d) of the Exchange Act, the registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
  INSCRUTOR,
      INC.Dated:
      March 10, 2009
                  By:
                  /S/
      JESPER TOFTJesper
      Toft
                    Chief
      Executive Officer,
                    Chief
      Financial Officer,
                    Chief
      Accounting Officer