UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                                Form 10-KSB

(Mark One)
     [X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

     For the fiscal year ended September 30, 2004

     [ ]  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: 000-32329

                            ALNILAM CORPORATION
            (Exact name of Registrant as specified in charter)

NEVADA                                            91-2081398
State or other jurisdiction of                    I.R.S. Employer I.D. No.
incorporation or organization

3857 BIRCH STREET, #606, NEWPORT BEACH, CA        92660
(Address of principal executive offices)          (Zip Code)

Issuer's telephone number, including area code:  (949) 644-0095

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  Common
Stock, Par Value $.001

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

Check if disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained in this form, and no disclosure will
be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III
of this Form 10-KSB or any amendment to this Form 10-KSB.   [X]

<PAGE>

State issuer's revenues for its most recent fiscal year:  $ -0-

State the aggregate market value of the voting stock held by
non-affiliates of the Registrant computed by reference to the price at
which the stock was sold, or the average bid and asked prices of such
stock, as of a specified date within the past 60 days:  The aggregate
market value of the voting stock held by non-affiliates of the
Registrant computed by using the closing sale price has been
indeterminable within the past 60 days as there has been no market for
the stock.

State the number of shares outstanding of each of the Issuer's classes
of common equity as of the latest practicable date:  At December 21,
2004, there were 1,000,000 shares of the Registrant's Common stock
outstanding.

Documents Incorporated by Reference:  None


                                  PART I

                     ITEM 1.  DESCRIPTION OF BUSINESS

History and Organization

     Alnilam Corporation (the "Company") was incorporated under the
laws of the State of Nevada on May 10, 2000.  The Company has
conducted no activities since its inception except in connection with
the filing of a registration statement on Form 10-SB on February 9,
2001.  The registration statement became effective on April 10, 2001.

Proposed Business

     The Company is seeking potential business acquisitions or
opportunities to enter into in an effort to commence business
operations.  The Company does not propose to restrict its search for a
business opportunity to any particular industry or geographical area
and may, therefore, engage in essentially any business in any
industry.  The Company has unrestricted discretion in seeking and
participating in a business opportunity.

     The Company's Board of Directors, which consists of a single
individual, Jason Daggett, shall make the initial determination
whether to complete any such venture; however, the Board of Directors
intends to submit final approval of any proposed transaction to the
shareholders.  In connection with such approval by the shareholders,
the Company intends to provide disclosure documentation to its
shareholders as required under Section 14 of the Securities Exchange
Act of 1934, and the rules and regulations promulgated thereunder.

     The selection of a business opportunity in which to participate
is complex and risky.  Additionally, as the Company has only limited
resources available to it, it may be difficult to find good
opportunities.  There can be no assurance that the Company will be
able to identify and acquire any business opportunity based on
management's business judgement.

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     The Company has not begun any negotiations with potential
business ventures.  Management decided to file its Registration
Statement on a voluntary basis before seeking a business venture.
Management believes that being a reporting company may increase the
likelihood that existing business ventures may be willing to negotiate
with the Company.  The Company also intends to seek quotation of its
common stock on the OTC Bulletin Board following such an acquisition
or merger transaction.  In order to have stock quoted on the OTC
Bulletin Board, a company must be subject to the reporting
requirements of the 1934 Act, either by virtue of filing a
registration statement on Form 10 or Form 10-SB, or by filing a
registration statement under the 1933 Act.  The Company anticipates
that it would voluntarily file periodic reports with the Securities
and Exchange Commission, in the event its obligation to file such
reports is terminated under the Securities Exchange Act of 1934, if
the common stock of the Company were quoted on the OTC Bulletin Board.

     In connection with the application for quotation of the Company's
common stock on the OTC Bulletin Board, management intends, following
an acquisition of a business venture, to seek a broker-dealer to
become the initial market maker for the Company's common stock and to
submit the application to the OTC Bulletin Board.  There have been no
preliminary discussions or understandings between the Company, or
anyone acting on its behalf, and any market maker regarding such
application or the participation of any such market maker in the
future trading market for the Company's common stock.  Management
intends to contact broker-dealers who make markets in Bulletin Board
companies until one agrees to make the application.  There is no
assurance that the Company will be successful in locating such a
broker-dealer, or that the application, if submitted, would be
approved.  The Company does not intend to use outside consultants to
obtain market makers.  In addition, the Company does not intend to use
any of its shareholders to obtain market makers.

     Management intends to consider a number of factors prior to
making any final decision as to whether to participate in any specific
business endeavor, none of which may be determinative or provide any
assurance of success.  These may include, but will not be limited to,
an analysis of the quality of the entity's management personnel; the
anticipated acceptability of any new products or marketing concepts;
the merit of technological changes; its present financial condition,
projected growth potential and available technical, financial and
managerial resources; its working capital, history of operations and
future prospects; the nature of its present and expected competition;
the quality and experience of its management services and the depth of
its management; its potential for further research, development or
exploration; risk factors specifically related to its business
operations; its potential for growth, expansion and profit; the
perceived public recognition or acceptance of its products, services,
trademarks and name identification; and numerous other factors which
are difficult, if not impossible, to properly or accurately analyze,
let alone describe or identify, without referring to specific
objective criteria.

     Regardless, the results of operations of any specific entity may
not necessarily be indicative of what may occur in the future, by
reason of changing market strategies, plant or product expansion,
changes in product emphasis, future management personnel and changes
in innumerable other factors.  Further, in the case of a new business
venture or one that is in a research and development stage, the risks
will be substantial, and there will be no objective

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criteria to examine the effectiveness or the abilities of its management
or its business objectives.  Also, a firm market for its products or
services may yet need to be established, and with no past track record,
the profitability of any such entity will be unproven and cannot be
predicted with any certainty.

     Management will attempt to meet personally with management and
key personnel of the entity sponsoring any business opportunity
afforded to the Company, visit and inspect material facilities, obtain
independent analysis or verification of information provided and
gathered, check references of management and key personnel and conduct
other reasonably prudent measures calculated to ensure a reasonably
thorough review of any particular business opportunity; however, due
to time constraints of management, these activities may be limited.

     The Company is unable to predict the time as to when and if it
may actually participate in any specific business endeavor.  The
Company anticipates that proposed business ventures will be made
available to it through personal contacts of directors, executive
officers and stockholders, professional advisors, broker dealers in
securities, venture capital personnel, members of the financial
community, attorneys, and others who may present unsolicited
proposals.  In certain cases, the Company may agree to pay a finder's
fee or to otherwise compensate the persons who submit a potential
business endeavor in which the Company eventually participates.  Such
persons may include the Company's directors, executive officers,
beneficial owners or their affiliates.  In this event, such fees may
become a factor in negotiations regarding a potential acquisition and,
accordingly, may present a conflict of interest for such individuals.

     The Company's director and executive officers have not used
particular consultants, advisors or finders on a regular basis to
locate potential business opportunities.

     The possibility exists that the Company may acquire or merge with
a business or company in which the Company's executive officers,
director, beneficial owners or their affiliates may have an ownership
interest.  Current Company policy does not prohibit such transactions.
Because no such transaction is currently contemplated, it is
impossible to estimate the potential pecuniary benefits to these
persons.

     Although it currently has no plans to do so, depending on the
nature and extent of services rendered, the Company may compensate
members of management in the future for services that they may perform
for the Company.  Because the Company currently has extremely limited
resources, and is unlikely to have any significant resources until it
has completed a merger or acquisition, management expects that any
such compensation would take the form of an issuance of the Company's
stock to these persons; this would have the effect of further diluting
the holdings of the Company's other stockholders.  However, due to the
minimal amount of time devoted to management by any person other than
the Company's current sole director and the executive officers, there
are no preliminary agreements or understandings with respect to
management compensation.  Although it is not prohibited by statute or
its Articles of Incorporation, the Company has no plans to borrow
funds and use the proceeds to make payment to its management,
promoters or affiliates.

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     Further, substantial fees are often paid in connection with the
completion of these types of acquisitions, reorganizations or mergers,
ranging from a small amount to as much as $250,000.  These fees are
usually divided among promoters or founders, after deduction of legal,
accounting and other related expenses, and it is not unusual for a
portion of these fees to be paid to members of management or to
principal stockholders as consideration for their agreement to retire
a portion of the shares of common stock owned by them.  However,
management does not presently anticipate actively negotiating or
otherwise consenting to the purchase of all or any portion of its
common stock as a condition to, or in connection with, a proposed
merger or acquisition.  In the event that such fees are paid, they may
become a factor in negotiations regarding any potential acquisition by
the Company and, accordingly, may present a conflict of interest for
such individuals.

     The activities of the Company are subject to several significant
risks which arise primarily as a result of the fact that the Company
has no specific business and may acquire or participate in a business
opportunity based on the decision of management, subject to the
approval of the Company's shareholders.  The risks faced by the
Company are further increased as a result of its lack of resources and
its inability to provide a prospective business opportunity with
significant capital.

     The Company has had no employees since its inception and does not
intend to employ anyone in the future, unless its present business
operations were to change.  The Company is not paying salaries or
other forms of compensation to its present officers and director for
his time and effort.  Unless otherwise agreed to by the Company, the
Company does intend to reimburse its officers and directors for
out-of-pocket expenses.

Status as a Pseudo California Corporation.

     Section 2115 of the California General Corporation Law subjects
certain foreign corporations doing business in California to various
substantive provisions of the California General Corporation Law in
the event that the average of its property, payroll and sales is more
than 50% in California and more than one-half of its outstanding
voting securities are held of record by persons residing in the State
of California.  Notwithstanding the fact that the Company currently
has no property, payroll, or sales, it may still be considered a
pseudo California corporation, even though it was incorporated under
the laws of the State of Nevada.  The designation as a pseudo
California corporation would continue until the end of the first year
following a year in which we did not meet the test.

     Some of the substantive provisions applicable to a pseudo
California corporation include:  (i) under Section 305 of California
corporate law, if a vacancy in our board of directors is filled by the
remaining directors and the directors appointed by the board
constitute a majority, any shareholders owning an aggregate of 5% or
more of the outstanding shares have the right to call a special
meeting of shareholders to elect the entire board; (ii) under Section
506 of California corporate law shareholders receiving any prohibited
distribution for dividends, liquidation, redemption of shares, or
similar transaction, with knowledge of facts indicating the
impropriety thereof is liable to the corporation for the benefit of
all of the creditors or shareholders entitled to

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institute action for the amount so received by the shareholder;
(iii) Section 710 of California corporate law also limits the ability
of a corporation to provide for super-voting shares by requiring approval
of super-voting provisions by at least as large a portion of the outstanding
shares as is required pursuant to the super-voting provisions and renewal
of the provisions by the same portion every two years; (iv) under Section
1300 of California corporate law shareholders shall have the right to
vote, and shall have dissenters rights, in any transaction resulting
in a change of control or in an acquisition of all or substantially
all of the assets of another corporation; (v) under Section 1600 any
shareholder or shareholders owning at least 5% of the outstanding
shares may inspect and copy the record of shareholders' names and
addresses or may obtain a shareholders' list from the transfer agent;
and, (vi) Section 1601 also permits any shareholder to inspect the
accounting books and records and minutes of proceedings of the
shareholders and the board and committees, provided that the
inspection is for a purpose reasonably related to the shareholder's
interests as a shareholder.

                     ITEM 2.  DESCRIPTION OF PROPERTY

     The Company neither owns nor leases any office space, real
property, or equipment.

                        ITEM 3.  LEGAL PROCEEDINGS

     No legal proceedings are reportable pursuant to this item.

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

     No matters were submitted to a vote of shareholders of the
Company during the fourth quarter of the fiscal year ended September 30,
2004.

                                  PART II

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

     There is no established trading market for the common stock of
the Company.

     None of the common shares are subject to outstanding options or
warrants, nor are there any other outstanding securities convertible
into shares of Common stock.  Of the 1,000,000 outstanding common
shares, all have been held for at least one year.  The Company is
aware that the staff of the Securities and Exchange Commission has
taken the position that Rule 144 would not be available for shares
issued at a time during which an issuer was a blank check issuer and
that these shares could only be resold through a registered offering.
Management has determined that if such position were to apply to the
shares issued in the organization of the Company, it would agree to
register, at no cost to the selling shareholders, the resale of such
shares for these parties.  The Company has expressly granted
piggy-back registration rights to register 49,500 shares issued to
counsel for the Company.  The Company has not proposed to publicly
offer any shares of Common stock.

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     At December 21, 2004, the Company had 27 shareholders of record.
The Company has appointed Interwest Transfer Company, Inc., 1981 East
4800 South, Suite 100, Salt Lake City, UT 84117, to act as its
transfer agent.

     Since its inception, the Company has not paid any dividends on
its common stock and the Company does not anticipate that it will pay
dividends in the foreseeable future.

     The Company has not adopted any equity compensation plans.

     During the year ended September 30, 2004, no securities were sold
by the Company.

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

     The Company has not commenced development of any business.  Since
its inception, the Company has had no operations.  The Company was
organized for the purpose of engaging in any lawful activity permitted
under Nevada state law; however, the Company does not have any
significant cash or other material assets, nor does it have an
established source of revenues sufficient to cover operating costs and
to allow it to continue as a going concern.  The Company intends to
take advantage of any reasonable business proposal presented which
management believes will provide the Company and its stockholders with
a viable business opportunity.  The board of directors will make the
final approval in determining whether to complete any acquisition, but
will submit the proposal to the shareholders for final approval.

     The original shareholders contributed a total of $7,365 in cash
and $2,635 in services as capital contributions for stock of the
Company.  Rigel Funds Management, Ltd., an entity of which Eric C.
Bronk, a shareholder of the Company, is a director, loaned $14,835 to
the Company at its inception for operating expenses.  The Company has
issued other promissory notes to Cygni Capital, LLC, an entity of
which Mr. Bronk is a managing member. (See "Item 12.  Certain
Relationships and Related Transactions.")  All of the notes payable
are due and payable upon demand.  The total accumulated interest to
September 30, 2004, is $6,517.  If the company is unable to find a
suitable business by the time the notes are called due, it is
anticipated that the Company would try to renegotiate the term of the
notes.

     Management estimates that the cash requirements for the year
ending September 30, 2005, will be approximately $10,000, if no change
in operations occurs during the year.  Management anticipates that
these funds will be loaned to the Company on the same or similar terms
as those of previous loans to the Company.  There is no agreement with
any of the companies and no assurance that all or a portion of these
funds will be loaned to the Company.  If the Company is unable to
borrow such funds, management will seek other sources of funding which
are currently unknown to management.  There is no assurance that such
funding would be available, or that if it is made available, it could
be obtained on terms favorable to the Company.

     The investigation of specific business opportunities and the
negotiation, drafting, and execution of relevant agreements,
disclosure documents, and other instruments will require

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substantial management time and attention and will require the Company
to incur costs for payment of accountants, attorneys, and others.  If a
decision is made not to participate in or complete the acquisition of
a specific business opportunity, the costs incurred in a related
investigation will not be recoverable.  Further, even if an agreement
is reached for the participation in a specific business opportunity by
way of investment or otherwise, the failure to consummate the
particular transaction may result in the loss to the Company of all
related costs incurred.

     Currently, management is not able to determine the time or
resources that will be necessary to locate and acquire or merge with a
business prospect.  There is no assurance that the Company will be
able to acquire an interest in any such prospects, products, or
opportunities that may exist or that any activity of the Company,
regardless of the completion of any transaction, will be profitable.
If and when the Company locates a business opportunity, management of
the Company will give consideration to the dollar amount of that
entity's profitable operations and the adequacy of its working capital
in determining the terms and conditions under which the Company would
consummate such an acquisition.  Potential business opportunities, no
matter which form they may take, will most likely result in
substantial dilution for the Company's shareholders due to the likely
issuance of stock to acquire such an opportunity.

Off-Balance Sheet Arrangements

     There are currently no off-balance sheet arrangements.  Until the
Company is able to locate a potential business for acquisition or
business prospect to merge with, there will likely not be any
arrangements.

     There is no assurance that the Company will be able to acquire an
interest in any such prospects, products, or opportunities that may
exist or that any activity of the Company, regardless of the
completion of any transaction, will be profitable.  If and when the
Company locates a business opportunity, management of the Company will
give consideration to the dollar amount of that entity's profitable
operations and the adequacy of its working capital in determining the
terms and conditions under which the Company would consummate such an
acquisition.  Potential business opportunities, no matter which form
they may take, will most likely result in substantial dilution for the
Company's shareholders due to the likely issuance of stock to acquire
such an opportunity.

                       ITEM 7.  FINANCIAL STATEMENTS

     The financial statements of the Company required by this item are
set forth immediately following the signature page of this annual
report.

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

     No change in accountant is reportable pursuant to this item.

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                     ITEM 8A.  CONTROLS AND PROCEDURES

Evaluation of disclosure and controls and procedure

     With the participation of management our chief executive officer
and chief financial officer have evaluated the effectiveness of the
design and operation of our disclosure controls and procedures (as
defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange
Act of 1934, as amended) as of the end of the period covered by this
quarterly report.  Based on that evaluation the chief executive
officer and chief financial officer have concluded that our disclosure
controls and procedures 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, and
are operating in an effective manner.

Changes in Internal Controls

     There were no changes in our internal control over financial
reporting that have materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.

     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 will be 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 is only
reasonable assurance that our controls will succeed in achieving their
stated goals under all potential future conditions.

                                 PART III

        ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     The following table sets forth as of December 21, 2004, the name,
age, and position of the executive officers and sole director of the
Company and the term of office of such director:

     Name               Age  Position(s)                   Director Since

     Jason Daggett      32   Director, President &         May 2000
                             Treasurer
     Lynn Carlson       50   Vice-President & Secretary    --

     Directors are elected for a term of one year and until their
successors are elected and qualified.  Annual meetings of the
stockholders, for the selection of directors to succeed those whose
terms expire, are to be held at such time each year as designated by
the Board of Directors.  The Board of Directors has not selected a date
for the next annual meeting of shareholders.  Officers of the Company
are elected by the Board of Directors, which is required to consider
that subject at its first meeting after every annual meeting of
stockholders.  Each officer holds his office until his successor is
elected and qualified or until his earlier resignation or removal.

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     Set forth below is certain biographical information regarding the
Company's current executive officers and sole director:

     JASON DAGGETT has been the president and treaturer of the Company
since its inception in May 2000.  He has been the president of BDR
Showalter, a financial services company in Las Vegas, Nevada, since
1999.  Since 1999 he has also been the President of Monico Capital
Partners, LLC, a financial services company located in Los Angeles,
California.  Monico Capital addresses the financial needs of high net
worth individuals and small institutions with a focus in the areas of
early stage funding, mergers and acquisitions.  Monico Capital is 50%
owned by Cygni Capital LLC.  Mr. Daggett received his Bachelor of
Science degree in psychology from Mercyhurst College in 1994, and
received his Masters Degree in Clinical Psychology from Pepperdine
University in 1996.

     LYNN CARLSON has been the secretary and vice-president of the
Company since its inception in May 2000.  She has worked for Cygni
Capital LLC, an investor and corporate relations firm, since November
1998 as an administrative assistant and account executive.

     Management devotes only nominal time to the activities of the
Company.  If the Company is able to locate a suitable new business
venture, it is anticipated that Mr. Daggett will devote substantially
all of his time to completing the acquisition.

     There are no other employees who are expected to make a
significant contribution to the business and there are no intentions
to employ anyone until business operations change.

     There are no family relationships between any of the officers and
the director or persons nominated to become directors or executive
officers.

     None of the officers, the director, persons nominated to become a
director, any promoters or control persons of the Company have, within
the last five years, been involved in events material to an evaluation
of their ability or integrity.

     The entire board of directors of the Company is currently acting
as the audit committee.  There is no financial expert currently on the
audit committee as there is no current activity in the Company.

     There are no established procedures for security holders to
recommend nominees for the board of directors.

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Other Public Shell Activities

     Mr. Daggett has not been involved as a director or executive
officer of other companies that may be deemed to be "blank check"
companies, and has not been involved in any blank check public
offerings.

Code of Ethics

     The Company has not adopted a code of ethics that applies to the
Company's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing
similar functions, because it has not commenced development of its
business.

                     ITEM 10.  EXECUTIVE COMPENSATION

     There has been no compensation awarded to, earned by, or paid to
any of the executive officers of the Company since its inception.
However, Mr. Daggett and Ms. Carlson, executive officers of the
Company, received 20,000 and 15,000 shares respectively of restricted
stock of the Company for services rendered in connection with the
organization of the Company in May 2000.

     The Company has no employment or compensation agreements or
arrangements with either of its officers.

     Directors are permitted to receive fixed fees and other compensation
for their services as directors, as determined by the Board of
Directors.  The Board of Directors has not adopted any policy in
regard to the payment of fees or other compensation to directors, and
no fees or compensation have been paid to, or accrued by, the present
director.

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

     The following table sets forth certain information furnished by
current management concerning the ownership of common stock of the
Company as of December 21, 2004, of (i) each person who is known to
the Company to be the beneficial owner of more than 5 percent of the
Common stock; (ii) all directors and executive officers; and
(iii) directors and executive officers of the Company as a group:

                                   Amount and Nature
Name and Address                   of Beneficial
of Beneficial Owner                Ownership (1)       Percent of Class

Jason Daggett                      20,000              2.0%
3857 Birch St., #606
Newport Beach, CA 92660

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Lynn Carlson                       15,000              1.5%
3857 Birch St., #606
Newport Beach, CA 92660

Executive Officers and             35,000              3.5%
Directors as a Group
(2 Persons)

Eric C. Bronk                      119,500(2)          12.0%
3857 Birch St., #606
Newport Beach, CA 92660

Rigel Funds Management Ltd.        99,500              10.0%
Cumberland House
No. 27 Cumberland Street
P.O. Box  N-10818
Nassau, The Bahamas

Fleming Securities                 95,000              9.5%
Suites 1601-1603
Hollywood Rd.
Hong Kong

Baldwin Investments Ltd.           89,500              8.95%
99-101 Regent St.
First Floor
London W1R 7HB UK

Carl T. Suter                      79,500              7.95%
3857 Birch St., #606
Newport Beach, CA 92660

     (1) Unless otherwise indicated, this column reflects amounts as
to which the beneficial owner has sole voting power and sole
investment power.
     (2) Of the shares beneficially owned by Mr. Bronk, 20,000 are
owned directly by Suter GC Trust, a trust for which Mr. Bronk is the
trustee.  While Mr. Bronk disclaims any pecuniary interest in these
shares, he is deemed to share beneficial ownership of such shares with
this entity.

     The Company is seeking potential business acquisitions or
opportunities.  (See "Item 1.  Description of Business.")  It is
likely that such a transaction would result in a change of control of
the Company, by virtue of issuing a controlling number of shares in
the transaction, change of management, or otherwise.

     The Company has not adopted any equity compensation plans.

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         ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     In connection with the organization of the Company in May 2000,
Jason Daggett, an officer, sole director and a founder of the Company,
received 20,000 shares for services rendered by to the Company.
Mr. Daggett provided consulting services in connection with the
organization of the Company, which services were valued at $200.

     In connection with the organization of the Company in May 2000,
Lynn Carlson, an officer of the Company, received 15,000 shares for
services rendered by to the Company.  Ms. Carlson provided secretarial
services in connection with the organization of the Company, which
services were valued at $150.

     In connection with the organization of the Company in May 2000,
Eric C. Bronk, a shareholder and founder of the Company, received
99,500 shares for services rendered by to the Company.  Mr. Bronk
provided consulting services in connection with the organization of
the Company, which services were valued at $995.

     On September 1, 2000, Rigel Funds Management, Ltd., a corporation
of which Mr. Bronk, a shareholder of the Company, is a director, loaned
$14,835 to the Company.  The promissory note bears 10% interest per
annum and was originally due on or before September 1, 2001.  The note
has been extended to be due and payable upon demand.

     On December 31, 2002, a promissory note in the amount of $1,951
was issued to Cygni Capital LLC, a limited liability company of which
Mr. Daggett is a member, for monies loaned to the Company.  The
promissory note bears 10% interest per annum and is due and payable
upon demand.

     On December 31, 2003, a promissory note in the amount of $1,068
was issued to Cygni Capital LLC, a limited liability company of which
Mr. Daggett is a member, for monies loaned to the Company.  The
promissory note bears 10% interest per annum and is due and payable
upon demand.

     On March 31, 2004, a promissory note in the amount of $500 was
issued to Cygni Capital LLC, a limited liability company of which Mr.
Daggett is a member, for monies loaned to the Company.  The promissory
note bears 10% interest per annum and is due and payable upon demand.

     On June 30, 2004, a promissory note in the amount of $484 was
issued to Cygni Capital LLC, a limited liability company of which Mr.
Daggett is a member, for monies loaned to the Company.  The promissory
note bears 10% interest per annum and is due and payable upon demand.

     On September 30, 2004, a promissory note in the amount of $1,722
was issued to Cygni Capital LLC, a limited liability company of which
Mr. Daggett is a member, for monies loaned to

                                    13
<PAGE>

the Company.  The promissory note bears 10% interest per annum and is
due and payable upon demand.

                            ITEM 13.  EXHIBITS

     (a)(1)    Financial Statements.  The following financial
statements are included in this report:
                                                                        Page
     Report of Auditor                                                   F-1
     Balance Sheet as of September 30, 2004                              F-2
     Statement of Operations for the years ended September 30, 2004
      and 2003, and for the period Accumulated May 10, 2000 (inception)
      through September 30, 2004                                         F-3
     Statement of Stockholders' Equity for the Period May 10, 2000
      (inception) to September 30, 2004                                  F-4
     Statement of Cash Flows for the years ended September 30, 2004
      and 2003, and for the period Accumulated May 10, 2000 (inception)
      through September 30, 2004                                         F-5
     Notes to Financial Statements                                       F-6

     (a)(2)    Exhibits.  The following exhibits are included as part
of this report:

     Exhibit
     No.       Description of Exhibit                                 Location
     3.1       Articles of Incorporation filed May 10, 2000             (1)
     3.2       Current Bylaws                                           (1)
     4.1       Form of Common Stock Certificate                         (1)
     10.1      Extension of Promissory Note dated September 1, 2002     (2)
     10.2      Promissory Note dated December 31, 2002                  (3)
     10.3      Promissory Note dated December 31, 2003                  (3)
     10.4      Promissory Note dated March 31, 2004                     (3)
     10.5      Promissory Note dated June 30, 2004                      (3)
     10.6      Promissory Note dated September 30, 2004               Attached
     31.1      Certification of the Principal Executive Officer
               pursuant to Rule 13(a)-14                              Attached
     31.2      Certification of the Principal Financial Officer
               pursuant to Rule 13(a)-14                              Attached
     32        Certification of the Principal Executive and
               Financial Officer pursuant to Section 1350             Attached

     (1) Incorporated by reference from the Company's registration
statement on Form 10-SB filed with the Securities and Exchange
Commission on February 9, 2001, File No. 000-32329.

                                    14
<PAGE>

     (2) Incorporated by reference from our annual report on Form
10-KSB for the year ended September 30, 2002, filed with the
Securities and Exchange Commission on January 15, 2003, File No.
000-32329.
     (3) Incorporated by reference from our quarterly report on Form
10-QSB for the quarter ended June 30, 2004, filed with the Securities
and Exchange Commission on August 16, 2004, File No. 000-32329.

             ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit Fees

     The aggregate fees billed for professional services rendered by
our principal accountant for the audit of our annual financial
statements, review of financial statements included in our quarterly
reports and other fees that are normally provided by the accountant in
connection with statutory and regulatory filings or engagements for
the fiscal years ended September 30, 2004 and 2003 were $4,300 and
$4,450, respectively.

Audit-Related Fees

     The aggregate fees billed for assurance and related services by
our principal accountant that are reasonably related to the
performance of the audit or review of our financial statements, other
than those previously reported in this Item 14, for the fiscal years
ended September 30, 2004 and 2003 were $-0- and $-0-, respectively.

Tax Fees

     The aggregate fees billed for professional services rendered by
our principal accountant for tax compliance, tax advice and tax
planning for the fiscal years ended September 30, 2004 and 2003 were
$250 and $-0-, respectively.  These fees related to the preparation of
federal income and state franchise tax returns.

All Other Fees

     There were no other fees billed for products or services provided
by the principal accountant, other than those previously reported in
this Item 14, for the fiscal years ended September 30, 2004 and 2003.

Audit Committee

     The Company's Board of Directors functions as its audit
committee.  All of the services described above in this Item 14 for
the year ended September 31, 2004, were approved by the Board of
Directors.

                                    15
<PAGE>

                                SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                        Alnilam Corporation

Date:  December 23, 2004                /s/ Jason Daggett
                                        By: Jason Daggett, President and
                                        Treasurer (Chief Executive,
                                        Principal Financial & Principal
                                        Accounting Officer)

     In accordance with the Exchange Act, this report has been signed
below by the following person on behalf of the registrant and in the
capacities and on the dates indicated.


Date:  December 23, 2004                /s/ Jason Daggett
                                        Jason Daggett, Sole Director




                                    16
<PAGE>


                       INDEPENDENT AUDITOR'S REPORT

To the Board of Directors
Alnilam Corporation
Newport Beach, California

We have audited the accompanying balance sheet of Alnilam Corporation (a
development stage company), a Nevada corporation, as of September 30, 2004
and the related statements of operations, stockholders' equity, and cash
flows for the year then ended, and for the period May 10, 2000 (inception)
to September 30, 2004.  These financial statements are the responsibility
of the management of Alnilam Corporation.  Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board.  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 audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Alnilam Corporation as
of September 30, 2004 and the results of their operations and its cash
flows for the year then ended, and the period May 10, 2000 (inception) to
September 30, 2004 in conformity with standards of the Public Company
Accounting Oversight Board.

The accompanying financial statements have been prepared assuming the
Company will continue as a going concern.  As discussed in Note 6 to the
financial statements, the Company has an accumulated deficit and a negative
net worth at September 30, 2004.  These factors raise substantial doubt
about the Company's ability to continue as a going concern.  Management's
plans in regard to these matters are also discussed in Note 6.  The
financial statements do not include any adjustments that might result from
the outcome of this uncertainty.

/s/ Chisholm, Bierwolf & Nilson, LLC

Chisholm, Bierwolf & Nilson, LLC
Bountiful, Utah
December 16, 2004


                                    F-1
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                               Balance Sheet

                                                        September 30,
                                                            2004
                                                        ------------
ASSETS

Current Assets
   Cash                                                  $     -
                                                          ---------
     Total Current Assets                                $     -
                                                          =========

LIABILITIES AND STOCKHOLDERS' EQUITY

  Current Liabilities
  Accounts Payable                                       $   16,733
  Interest Payable                                            6,517
  Note Payable - Related Party (Note 4)                      20,560
                                                          ---------
     Total Current Liabilities                               43,810

Stockholders' Equity

  Common Stock Authorized: 100,000,000 Shares at $.001
    Par Value; 1,000,000 Shares Issued and Outstanding        1,000
  Capital In Excess of Par Value                              9,000
  Deficit Accumulated in the Development Stage              (53,810)
                                                          ---------
     Total Stockholders' Equity                             (43,810)
                                                          ---------
     Total Liabilities & Stockholders' Equity            $     -
                                                          =========

The accompanying notes are an integral part of these financial statements.
                                    F-2
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                         Statements of Operations

                                                                Accumulated
                                                               May 10, 2000
                                                                (Inception)
                                      For the Years Ended         through
                                     September    September      September
                                     30, 2004     30, 2003       30, 2004
                                    -----------  -----------    -----------

Revenue                             $     -      $     -        $     -
                                     ---------    ---------      ---------
Expenses

  General and Administrative            11,783        6,432         47,291
                                     ---------    ---------      ---------
     Total Expenses                     11,783        6,432         47,291
                                     ---------    ---------      ---------
     Income (Loss) from Operations     (11,783)      (6,432)       (47,291)

Other Income (Expenses)

  Interest Expense                      (1,794)      (1,633)        (6,519)
                                     ---------    ---------      ---------
     Total Other Income (Expenses)      (1,794)      (1,633)        (6,519)
                                     ---------    ---------      ---------
     Income (Loss) Before Taxes        (13,577)      (8,065)       (53,810)

     Taxes                                -            -              -
                                     ---------    ---------      ---------
     Net Income (Loss)              $  (13,577)  $   (8,065)    $  (53,810)
                                     =========    =========      =========


     (Loss) Per Common Share        $    (0.01)  $    (0.01)

     Weighted Average
      Shares Outstanding             1,000,000    1,000,000


The accompanying notes are an integral part of these financial statements.
                                    F-3

<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                     Statement of Stockholders' Equity
            From May 10, 2000 (Inception) to September 30, 2004

                                                                     Accumulated
                                                                   Deficit Since
                                                        Capital In  Beginning of
                                    Common Stock        Excess of    Development
                                Shares        Stock     Par Value       Stage
                              ----------   ----------   ----------   -----------
Balance, May 10, 2000               -      $     -      $     -      $     -

Shares Issued for Services
at $.01 Per Share                214,000          214        1,926         -

Shares Issued for Cash at
$.01 Per Share                   516,500          517        4,648         -

Net (Loss) Period Ended
September 30, 2000                  -            -            -          (2,279)
                              ----------    ---------    ---------    ---------
Balance, September 30, 2000      730,500          731        6,574       (2,279)

Shares Issued for Cash at
$.01 Per Share (Note 4)          220,000          220        1,980         -

Shares Issued for Services
at $.01 Per Share (Note 4)        49,500           49          446         -

Net (Loss) Year Ended
September 30, 2001                  -            -            -         (20,844)
                              ----------    ---------    ---------    ---------
Balance, September 30, 2001    1,000,000        1,000        9,000      (23,123)

Net (Loss) Year Ended
September 30, 2002                  -            -            -          (9,045)
                              ----------    ---------    ---------    ---------
Balance, September 30, 2002    1,000,000        1,000        9,000      (32,168)

Net (Loss) Year Ended
September 30, 2003                  -            -            -          (8,065)
                              ----------    ---------    ---------    ---------
Balance, September 30, 2003    1,000,000        1,000        9,000      (40,233)

Net (Loss) Year Ended
September 30, 2004                  -            -            -         (13,577)
                              ----------    ---------    ---------    ---------
Balance, September 30, 2004    1,000,000   $    1,000   $    9,000   $  (53,810)
                              ==========    =========    =========    =========


The accompanying notes are an integral part of these financial statements.
                                    F-4

<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                         Statements of Cash Flows
<TABLE>
<CAPTION>
                                                                        Accumulated
                                                                        May 10, 2000
                                                                         (Inception)
                                                 For the Years Ended       Through
                                                     September 30,        September
                                                   2004        2003       30, 2004
                                                ----------  ----------  -------------
<S>                                             <C>         <C>          <C>
Net Cash Provided by Operating Activities
  Net (Loss)                                    $  (13,577) $   (8,065)  $  (53,810)
  Changes in Operating Assets & Liabilities:
    Increase in Accounts/Interest Payable            9,803       6,114       23,250
    Increase in Stock Issued for Services             -           -           2,635
                                                 ---------   ---------    ---------
      Net Cash (Used) by Operating Activities       (3,774)     (1,951)     (27,925)

Net Cash Provided by Investing Activities             -           -            -

Net Cash Provided by Financing Activities
  Issuance of Note Payable for Cash                  3,774       1,951       20,560
  Stock Issued for Cash                               -           -           7,365
                                                 ---------   ---------    ---------
      Net Cash Provided by Financing Activities      3,774       1,951       27,925
                                                 ---------   ---------    ---------
      Net Increase (Decrease) in Cash                 -           -            -

      Cash at Beginning of Year or Period             -           -            -
                                                 ---------   ---------    ---------
      Cash at End of Year or Period             $     -     $     -      $     -
                                                 =========   =========    =========


Supplemental Disclosures
  Interest                                      $     -     $     -      $     -
  Taxes                                               -           -            -
</TABLE>
 The accompanying notes are an integral part of these financial statements.
                                     F-5

<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                       Notes to Financial Statements
                            September 30, 2004

NOTE 1 - COMPANY ORGANIZATION

Alnilam Corporation (the "Company") was incorporated under the laws of the
state of Nevada on May 10, 2000 as Alnilam Corporation for the purpose of
seeking and consummating a merger or acquisition with a business entity
organized as a private corporation, partnership, or sole proprietorship.

The Company is a development stage company as defined in SFAS No. 7.  It is
concentrating substantially all of its efforts in raising capital and
developing its business operations in order to generate significant
revenues.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents:  The Company considers all highly liquid
investments with an original maturity of three months or less when
purchased to be cash equivalents.

Income (Loss) Per Share:  The Computation or income or (loss) per shares of
common stock is based on weighted average number of shares outstanding at
the date of the financial statements.

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 reported period.  Actual results could differ from
those estimates.

NOTE 3 - INCOME TAXES

The Company adopted Statement of Financial Standards No. 109 "Accounting
for Income Taxes" in the fiscal year ended September 30, 2001.

Statement of Financial Accounting Standards No. 109 "Accounting for Income
Taxes" requires an asset and liability approach for financial accounting
and reporting for income tax purposes.  This statement recognizes (a) the
amount of taxes payable or refundable for the current year and (b) deferred
tax liabilities and assets for future tax consequences of events that have
been recognized in the financial statements or tax returns.

                                    F-6
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                       Notes to Financial Statements
                            September 30, 2004

NOTE 3 - INCOME TAXES (continued)

Deferred income taxes result from temporary differences in the recognition
of accounting transactions for tax and financial reporting purposes.  There
were no temporary differences at September 30, 2004 and earlier years, no
deferred tax liabilities have been recognized.

The Company has cumulative net operating loss carryforwards of
approximately $53,000 at September 30, 2004.  No effect has been shown in
the financial statements for the net operating loss carryforwards as the
likelihood of future tax benefit from such net operating loss carryforwards
is not presently determinable.  Accordingly, the potential tax benefits of
the net operating loss carryforwards, estimated based upon current tax
rates at September 30, 2004 have been offset by valuation reserves in the
same amount.  The net operating losses begin to expire in 2020.

NOTE 4 - NOTE PAYABLE RELATED PARTY

The Company has issued four promissory notes totaling $20,560 to
corporations whose officer and/or director is a shareholder of the Company.
The notes are unsecured and carry interest rates of 10% per annum.  The
principal and interest of the notes are due and payable upon demand.  As of
September 30, 2004, the accrued interest was $6,517.

The Company has the following note payable obligations:       September 30,
                                                                  2004
                                                              ------------
  Related party notes payable, due on demand
   accruing interest at a rate of 10% per annum                $  20,560
                                                                --------
          Total                                                   20,560
          Less Current Maturities                                (20,560)
                                                                --------
          Total Long-Term Notes Payable                        $    -
                                                                ========

NOTE 5 - NEW TECHNICAL PRONOUNCEMENTS

In December 2002, the FASB issued SFAS No. 148, Accounting for Stock-Based
Compensation Transition and Disclosure an amendment of FAS 123.  SFAS No.
148 amends SFAS No. 123, Accounting for Stock-Based Compensation, to
provide alternative methods of transition for an entity that voluntarily
changes to the fair value based method of accounting for stock-based
employee compensation.  It also amends the disclosure provisions of SFAS
No. 123 to require prominent disclosure about the effects on reported net
income of an entity's accounting policy decisions with respect to
stock-based employee compensation.  This Statement also amends APB Opinion
No. 28, Interim Financial Reporting, to require disclosure about those
effects in interim financial information.  SFAS No. 148 is effective for
annual and interim periods beginning after December 15, 2002.  The adoption
of the interim disclosure provisions of SFAS No. 148 did not have an impact
on the Company's financial position, results of operations or cash flows.
The Company is currently evaluating whether to adopt the fair value based
method of accounting for

                                    F-7
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                       Notes to Financial Statements
                            September 30, 2004

NOTE 5 - NEW TECHNICAL PRONOUNCEMENTS (continued)

stock-based employee compensation in accordance with SFAS No. 148 and its
resulting impact on the Company's consolidated financial statements.

In January 2003, the Emerging Issues Task Force ("EITF") issued EITF Issue
No. 00-21, Accounting for Revenue Arrangements with Multiple Deliverables.
The consensus addresses certain aspects of accounting by a vendor for
arrangements under which it will perform multiple revenue-generating
activities, specifically, how to determine whether an arrangement involving
multiple deliverables contains more than one unit of accounting.  EITF
Issue No. 00-21 is effective for revenue arrangements entered into in
fiscal periods beginning after June 15, 2003, or entities may elect to
report the change in accounting as a cumulative-effect adjustment.  The
adoption of EITF Issue No. 00-21 did not have a material impact on the
Company's consolidated financial statements.

In January 2003, the FASB issued Interpretation ("FIN") No. 46,
Consolidation of Variable Interest Entities.  Until this interpretation, a
company generally included another entity in its consolidated financial
statements only if it controlled the entity through voting interests.  FIN
No. 46 requires a variable interest entity, as defined, to be consolidated
by a company if that company is subject to a majority of the risk of loss
from the variable interest entity's activities or entitled to receive a
majority of the entity's residual returns.  FIN No. 46 is effective for
reporting periods ending after December 15, 2003.  The adoption of FIN
No. 46 did not have an impact on the Company's consolidated financial
statements.

In April 2003, the FASB issued SFAS No. 149, Amendment of Statement 133 on
Derivative Instruments and Hedging Activities, which amends and clarifies
accounting for derivative instruments, including certain derivative
instruments embedded in other contracts, and for hedging activities under
SFAS No. 133.  SFAS No. 149 is effective for contracts entered into or
modified after June 30, 2003 and for hedging relationships designated after
June 30, 2003.  The adoption of SFAS No. 149 will not have an impact on the
Company's consolidated financial statements.

In May 2003, the FASB issued SFAS No. 150, Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and Equity SFAS No.
150 changes the accounting guidance for certain financial instruments that,
under previous guidance, could be classified as equity or "mezzanine"
equity by now requiring those instruments to be reported as liabilities.
SFAS No. 150 also requires disclosure relating to the terms of those
instruments and settlement alternatives.  SFAS No. 150 is generally
effective for all financial instruments entered into or modified after
May 31, 2003, and is otherwise effective at the beginning of the first
interim period beginning after June 15, 2003.  The adoption of SFAS No. 150
did not have an impact on the Company's consolidated financial statements.

                                    F-8
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                       Notes to Financial Statements
                            September 30, 2004

NOTE 5 - NEW TECHNICAL PRONOUNCEMENTS (continued)

In December 2003, the SEC issued SAB No. 104.  SAB No. 104 revises or
rescinds portions of the interpretative guidance included in Topic 13 of
the codification of staff accounting bulletins in order to make this
interpretive guidance consistent with current authoritative accounting and
auditing guidance and SEC rules and regulations.  It also rescinds the
Revenue Recognition in Financial Statements Frequently Asked Questions and
Answers document issued in conjunction with Topic 13.  Selected portions of
that document have been incorporated into Topic 13.  The adoption of SAB
No. 104 in December 2003 did not have an impact on the Company's financial
position, results of operations or cash flows.

NOTE 6 - GOING CONCERN

The Company has had recurring operating losses since inception and is
dependent upon financing to continue operations.  These factors indicate
that the Company may be unable to continue in existence.  These financial
statements do not include any adjustments relating to the recoverability
and classification of recorded assets, or the amounts and classification of
liabilities that might be necessary in the event the Company cannot
continue its existence.  These financial statements do not include any
adjustments that might result from the outcome of this uncertainty.  It is
the intent of the Company to find additional capital funding and/or a
profitable business venture to acquire or merge.

                                    F-9