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                      U .S. SECURITIES EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 FORM 10-KSB/A-2
                  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                   For the Fiscal Year Ended December 31, 2004
                           Commission File No. 0-23761

                      ADVANCED TECHNOLOGY INDUSTRIES, INC.
                      ------------------------------------
                 (Name of small business issuer in its charter)

                               Delaware 13-4000208
                               -------- ----------
                     (State or other jurisdiction of (I.R.S.
                     Employer incorporation or organization)
                               Identification No.)

                             211 Madison Avenue #28B
                            New York, New York 10116
                    (Address of principal executive offices)
                     Issuer's telephone number: 212 532-2736

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

Securities registered pursuant to Section 12(g) of the Act: Common Stock (Title
of class)

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.
Yes [X]; No [ ]

Check if there is no 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 or 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. [ ]

Issuer's revenues for its most recent fiscal year: $ 0

At December 29, 2005 there were 203,738,918 outstanding shares of registrant's
common stock held by non-affiliates, with a market value of approximately
$14,465,463based on a closing bid quotation on the Over The Counter Bulletin
Board on that date of $0.071 per share.

Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13 and 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Not applicable

At December 30, 2005, a total of 214,508,899 shares of registrant's common stock
were outstanding.

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



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This Amendment Number 2 on Form 10-KSB/A-2 ("Amendment") amends Advanced
Technology Industries, Inc.'s (the "Company") Annual Report on Form 10-KSB for
the year ended December 31, 2004, originally filed on June 10, 2005 (as amended
on July 22, 2005, the "Amended Filing"). The Company is amending herein Part II,
Item 8A of the Amended Filing. In addition, pursuant to the rules of the
Securities and Exchange Commission, the Company is including with this Amendment
certain currently dated certifications.

Except as noted above, no other changes have been made to the Amended Filing.
The filing of this Amendment is not a representation that any statements
contained in the Company's Annual Report on Form 10-KSB/A-1 for the year ended
December 31, 2004 other than Part II, Item 8A are true or complete as of any
date subsequent to the date of the Amended Filing.

ITEM 8A.  CONTROLS AND PROCEDURES

The Company maintains a set of disclosure controls and procedures designed to
ensure that information required to be disclosed by the Company in the reports
filed under the Securities Exchange Act, is recorded, processed, summarized and
reported within the time periods specified by the SEC's rules and forms.
Disclosure controls are also designed with the objective of ensuring that this
information is accumulated and communicated to the Company's management,
including the Company's chief executive officer and chief financial officer, as
appropriate, to allow timely decisions regarding required disclosure.

Based upon their evaluation as of the end of the period covered by this report,
the Company's chief executive officer and chief financial officer concluded
that, the Company's disclosure controls and procedures are not effective to
ensure that information required to be included in the Company's periodic SEC
filings is recorded, processed, summarized, and reported within the time periods
specified in the SEC rules and forms.

The Company's board of directors were advised by Marcum & Kliegman, LLP, the
Company's independent registered public accounting firm, that during their
performance of audit procedures for 2004 Marcum & Kliegman LLP identified two
material weaknesses as defined in Public Company Accounting Oversight Board
Standard No. 2, in the Company's internal control over financial reporting.

The material weakness related to the December 31, 2004 financing closing
process. Certain adjustments were identified in the annual audit process,
related to the accounting for stock transactions as well as the lack of
segregation of duties in the process of cash receipts and disbursements. In
addition, there were instances where accounting analyses did not include
evidence of a timely review. The adjustments related to these matters were made
by the Company in connection with the preparation of the audited financial
statements for the year ended December 31, 2004.

Given these material weaknesses, management devoted additional resources to
resolving questions that arose during the Company's year-end audit. As a result,
the Company believes that the Company's consolidated financial statements for
the year ended December 31, 2004 fairly present, in all material respects, the
Company's financial condition and results of operations.



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(b) Changes in Internal Controls and Procedures.

One of the material weaknesses discussed above related to accounting for stock
transactions. This weakness was mainly the result of the manner in which certain
employees of LTDN documented stock issuances and maintained the stock ledger of
LTDN. Following the acquisition of LTDN on December 15, 2004, Interwest Transfer
Company, an independent transfer agent, began handling all stock transactions of
the Company. As a result, the Company believes that the Company's disclosure
controls and procedures with respect to accounting for stock transactions are
now effective to ensure that such information required to be included in the
Company's periodic SEC filings is recorded, processed, summarized, and reported
within the time periods specified in the SEC rules and forms. In addition, the
Company retained a certified public accountant to assist in the preparation of
the Company's financial statements and periodic SEC filings.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits.



Exhibit 31.1       Certification of the Principal Executive Officer pursuant to
                   Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 31.2       Certification of the Principal Financial Officer pursuant to
                   Section 302 of the Sarbanes-Oxley Act of 2002



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                                   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.

                                ADVANCED TECHNOLOGY INDUSTRIES, INC.

Dated: December 30, 2005        By: /s/ Allan Klepfisz
                                    ---------------------------------------
                                    Allan Klepfisz, Chief Executive Officer

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

Dated: December 30, 2005              By: /s/ Allan Klepfisz
                                          --------------------------------------
                                          Allan Klepfisz,
                                          Chief Executive Officer and Director


Dated: December 30, 2005              By: /s/ James Samuelson
                                          --------------------------------------
                                          James Samuelson,
                                          Chief Financial Officer


Dated: December 30, 2005              By: /s/ Arie Baalbergen
                                          --------------------------------------
                                          Arie Baalbergen,
                                          Director


Dated: December 30, 2005              By: /s/ Chai Ong
                                          --------------------------------------
                                          Chai Ong,
                                          Director