SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

              [X] For the quarterly period ended March 31, 2005 or


     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

     For the transition period from _______________ to ____________________

                        Commission File Number: 000-21247

                       Australian Agriculture and Property
                       -----------------------------------
                            Development Corporation
                            -----------------------
                 (Name of small business issuer in its charter)

          Delaware                                13-41058242
(Jurisdiction of organization)         (I.R.S. Employer Identification No.)

                      11555 Heron Bay Boulevard, Suite 200
                          Coral Springs, Florida 33076
                    (Address of principal executive offices)

                           Issuer's telephone number:
                                 (954) 603-0522


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  as
required  to file  such  reports)  and  (2)  has  been  subject  to such  filing
requirements for the past 90 days. YES X NO

As of May 16, 2005, there were 86,054,334 shares of the registrant's common
stock outstanding.
<PAGE>
                          PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

FINANCIAL STATEMENT INDEX

     Combined Balance Sheets at March 31, 2005 (Unaudited)                   1
        and December 31, 2004
     Combined Statements of Operations for the Three Mont                    2
        Ended March 31, 2005 and 2004 (Unaudited)

     Combined Statements of Cash Flows for the Three Months                  3
        Ended March 31, 2005 and 2004 (Unaudited)

     Notes to Financial Statements                                           4
<PAGE>
<TABLE>
<CAPTION>
              AUSTRALIAN AGRICULTURE AND PROPERTY DEVELOPMENT CORP.
            (Formerly Global Wireless Satellite Networks [USA], Inc.)

                             COMBINED BALANCE SHEETS
                                                                                    March 31,       December 31,
                                                                                      2005              2004
                                                                                 --------------    --------------
                                                                                    Unaudited
                                                            ASSETS
<S>                                                                                    <C>               <C>
Cash and cash equivalents                                                        $     397,767     $     139,095
Inventories-at the lower of cost or
   fair value-lots held for sale                                                    76,698,240        76,851,026
Receivables                                                                                854             5,289
Receivable from related parties                                                      1,770,159         1,453,783
Property, plant and equipment                                                        1,598,467         1,600,355
                                                                                 --------------    --------------


       Total Assets                                                              $  80,465,487     $  80,049,548
                                                                                 ==============    ==============






                                             LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:
   Accounts payable and other liabilities                                        $  37,870,211     $  37,801,802
   Mortgage notes payable                                                           21,171,291        20,068,258
   Taxes payable                                                                     2,224,010         2,316,068
                                                                                 --------------    --------------

       Total Liabilities                                                            61,265,512        60,186,128

Stockholders' Equity:
   Preferred stock, $0.001 par value, 10,000,000 shares
     authorized, no shares issued and outstanding
   Common stock, no par value, 300 shares authorized
     and outstanding
   Common stock $0.001 par value, 90,000,000 shares
      authorized , 86,054,334  shares issued and outstanding                            86,054            86,054
   Paid in capital                                                                  19,693,803        19,693,803
   Accumulated comprehensive income                                                  1,620,512         2,043,480
   Accumulated deficit                                                              (2,200,394)       (1,959,917)
                                                                                 --------------    --------------

       Total Stockholders' Equity                                                   19,199,975        19,863,420
                                                                                 --------------    --------------

       Total Liabilities and Stockholders' Equity                                $  80,465,487     $  80,049,548
                                                                                 ==============    ==============
</TABLE>


                 See accompanying notes to financial statements.

                                       1
<PAGE>






              AUSTRALIAN AGRICULTURE AND PROPERTY DEVELOPMENT CORP.
            (Formerly Global Wireless Satellite Networks [USA], Inc.)

                  COMBINED STATEMENTS OF OPERATIONS (UNAUDITED)


                                                  For The Three Months Ended
                                                           March 31,
                                                 ------------------------------

                                                       2005            2004
                                                 --------------   -------------
                                                                     Restated
Revenues:
   Land sales                                                     $  1,148,097
   Other                                         $       6,489          34,144
                                                 --------------   -------------
     Total Revenue                                       6,489       1,182,241

Expenses:
   Cost of sales                                                       900,146
   Administrative                                       45,174         145,371
   Interest                                            117,736          40,958
   Depreciation                                          1,888           2,165
   Other                                                82,168         128,654
                                                 --------------   -------------
     Total Expenses                                    246,966       1,217,294
                                                 --------------   -------------

Net loss                                         $    (240,477)   $   ( 35,053)
                                                 ==============   =============

Net income per common share
   (basic and diluted)
                                                 $        0.01    $       0.01
                                                 ==============   =============

Weighted average common shares outstanding          86,054,334      86,054,334
                                                 ==============   =============





                 See accompanying notes to financial statements.

                                       2
<PAGE>

              AUSTRALIAN AGRICULTURE AND PROPERTY DEVELOPMENT CORP.

            (Formerly Global Wireless Satellite Networks [USA], Inc.)

                  COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                      For The Three Months Ended
                                                                March 31,
                                                      --------------------------
                                                          2005          2004
                                                      ------------  ------------
                                                                      Restated
CASH FLOWS FROM
OPERATING
   ACTIVITIES
   Net loss                                           $  (240,477)  $   (35,053)
   Adjustments to reconcile net loss to
     cash flows from operating activities:
       Depreciation                                         1,888         2,165
   Changes in operating activities:
     Decrease in prepaid expenses                                       278,420
       Decrease (Increase) in inventories                 152,786    (1,213,001)
     Decrease (Increase) in receivables                     4,435          (102)
       Increase in receivable from related parties                     (316,376)
      Increase (Decrease) in accounts payable and
       other liabilities                                   68,409   (13,069,585)
     Decrease in taxes payable                            (92,058)     (126,219)
                                                      ------------  ------------

         NET CASH USED IN
            OPERATING ACTIVITIES                         (421,393)  (14,163,375)
                                                      ------------  ------------

CASH FLOWS FROM INVESTING
   ACTIVITIES
   Capital expenditures                                                 (16,349)
                                                      ------------  ------------

       NET CASH USED IN
         INVESTING ACTIVITIES                                           (16,349)
                                                      ------------  ------------


CASH FLOWS FROM FINANCING
   ACTIVITIES
   Mortgages notes payable                              1,103,033    13,865,350
   Loans from related parties, unsecured                              2,250,131
                                                      ------------  ------------

       NET CASH PROVIDED BY
         FINANCING ACTIVITIES                           1,103,033    16,115,481
                                                      ------------  ------------

EFFECT OF EXCHANGE RATE
   CHANGES ON CASH                                       (422,968)       (5,794)
                                                      ------------  ------------

INCREASE IN CASH                                          258,672     1,929,963

CASH, BEGINNING OF PERIOD                                 139,095        18,657
                                                      ------------  ------------

CASH, END OF PERIOD                                   $   397,767   $ 1,948,620
                                                      ============  ============

SUPPLEMENTAL CASH FLOW INFORMATION
         Interest paid                                $   117,736   $    40,958



         See accompanying notes to financial statements.

                                       3
<PAGE>
              AUSTRALIAN AGRICULTURE AND PROPERTY DEVELOPMENT CORP.

            (Formerly Global Wireless Satellite Networks [USA], Inc.)

                          NOTES TO FINANCIAL STATEMENTS


NOTE A - CONDENSED FINANCIAL STATEMENTS

     In the  opinion  of  the  Company,  the  accompanying  unaudited  condensed
     financial  statements  include all adjustments  (consisting  only of normal
     recurring  accruals)  which are  necessary for a fair  presentation  of the
     results  for  the  periods  presented.  Certain  information  and  footnote
     disclosure,  normally  included  in the  financial  statements  prepared in
     accordance  with  generally  accepted  accounting  principles,   have  been
     condensed and omitted. The results of operations for the three months ended
     March 31, 2005 are not indicative of the results of operations for the year
     ended December 31, 2005. The condensed financial  statements should be read
     in  conjunction  with the Company's  financial  statements  included in its
     annual Form 10 KSB for the year ended December 31, 2004.


NOTE B - COMMITMENTS AND CONTINGENCIES

     On December 13, 2004, in connection  with an action being brought against a
     major  shareholder  of the  Company,  the  Supreme  Court  of  Victoria  in
     Melbourne,  Australia placed an injunction against Australian  Agricultural
     and  Property  Management  Limited,  one  of  the  company's  wholly  owned
     subsidiaries,  which  restricts the Company's  ability to sell certain real
     estate holdings and prohibits  certain business  transactions.  The Company
     has been  informed,  and been  provided  with an opinion by its  Australian
     counsel that the  restrictions  against the Company are without merit.  The
     Company is currently  vigorously  challenging the foregoing  actions in the
     Australian  courts  and does not  believe  that it will have a  significant
     impact on the operations of the Company.

                                       4
<PAGE>




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

Introduction

     The following  discussion  should be read in conjunction with the Financial
Statements  and Notes  thereto.  Our fiscal year ends December 31. This document
contains certain forward-looking statements including, among others, anticipated
trends in our financial  condition  and results of  operations  and our business
strategy.  These  forward-looking  statements  are based  largely on our current
expectations  and are  subject  to a number of risks and  uncertainties.  Actual
results could differ materially from these forward-looking statements. Important
factors to consider in evaluating such  forward-looking  statements  include (i)
changes in external  factors or in our internal  budgeting  process  which might
impact trends in our results of operations;  (ii) unanticipated  working capital
or other  cash  requirements;  (iii)  changes  in our  business  strategy  or an
inability to execute our strategy due to unanticipated changes in the industries
in which the Company operates;  and (iv) various competitive market factors that
may prevent us from competing successfully in the marketplace.

Overview

     The  primary   objective  of  the  Company's   management  is  to  maximize
shareholder  wealth.  The  Company  attempts to  accomplish  this  objective  by
increasing the number of real estate development  projects.  Management believes
revenues and earned  income can be  increased  significantly  by  acquiring  the
remaining  properties  the Company has  targeted in  Australia  and by acquiring
interests in real estate development  projects in the United States.  Management
further believes by working with joint venture partners, it can rapidly begin to
develop real estate projects throughout  Australia,  the United States and other
countries.

     The Company is primarily a residential  land  development and  homebuilding
company with properties located primarily in Australia. The principal activities
of the Company and its consolidated  subsidiaries include:  obtaining zoning and
other  entitlements  for land it owns or controls  through  purchase or purchase
options and improving the land for  residential  development by building  roads,
putting in utilities and subdividing  the land. Once the residential  land owned
by the Company is entitled, the Company may either sell unimproved land to other
developers or homebuilders,  sell improved land to homebuilders,  or participate
in joint ventures with other  developers,  investors or  homebuilders to finance
and construct infrastructure and homes.

     During  2005,  the Company will focus its  immediate  efforts to (i) obtain
properties in Australia that the Company has targeted for purchase; (ii) to work
on the development of various projects in the United States;  and (iii) continue
to  expand  its  profitable  development  operations  for  its  currently  owned
properties.  However,  the Company may also consider  other  strategic and joint
venture  opportunities;  and there can be no  assurance  that the  Company  will
accomplish, in whole or in part, all or any of these strategic goals.

     The Company currently has on-going  Australian projects on various seaboard
cities of the Southeastern coastal regions of Australia. The Company's inventory
of entitled land available for  homebuilding  projects will always be limited by
its  ability  to  finance  new  projects.   Therefore,  the  Company  has  begun
discussions with various  financing  organizations  for the purpose of providing
lines of credit  and  other  financings  for  current  and  future  real  estate
projects.  The  Company is  continuing  to pursue  residential  lot  acquisition
opportunities throughout Australia and the United States.

CRITICAL ACCOUNTING POLICIES

     The Securities and Exchange Commission ("SEC") defines "critical accounting
policies" as those that require  application  of  management's  most  difficult,
subjective or complex judgments, often as a result of the need to make estimates
about the  effect of matters  that are  inherently  uncertain  and may change in
subsequent periods.

     Not all of the accounting  policies  require  management to make difficult,
subjective or complex judgments or estimates.  However,  the following  policies
could be deemed to be critical within the SEC definition.

                                      5
<PAGE>
Revenue and Cost Recognition

     Revenue on product  sales is  recognized  when  persuasive  evidence  of an
arrangement  exists,  such as when a purchase order or contract is received from
the customer,  the price is fixed, title to the goods has changed and there is a
reasonable  assurance of collection of the sales  proceeds.  The Company obtains
written  purchase  authorizations  from its customers for a specified  amount of
product at a specified price and considers delivery to have occurred at the time
of shipment. Revenue is recognized at shipment and the Company records a reserve
for estimated sales returns, which is reflected as a reduction of revenue at the
time of revenue recognition.

     Revenues  from  research  and  development   activities  relating  to  firm
fixed-price  contracts are generally recognized on the  percentage-of-completion
method of accounting as costs are incurred  (cost-to-cost basis).  Revenues from
research and development activities relating to cost-plus-fee  contracts include
costs  incurred  plus a  portion  of  estimated  fees or  profits  based  on the
relationship of costs incurred to total estimated costs.  Contract costs include
all direct  material and labor costs and an  allocation  of  allowable  indirect
costs as defined by each contract,  as periodically  adjusted to reflect revised
agreed upon rates. These rates are subject to audit by the other party.  Amounts
can be  billed  on a  bi-monthly  basis.  Billing  is based on  subjective  cost
investment factors.

Use of Estimates:

     The  preparation  of financial  statements  in conformity  with  accounting
principles  generally accepted in the United States requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities and the disclosure of contingent  assets and liabilities at the date
of the  financial  statements  as well as the  reported  amounts of revenues and
expenses  during the reporting  period.  Actual  results could differ from those
estimates.  These  estimates  and  assumptions  relate to recording net revenue,
collectibility of accounts receivable, and the realizability of other intangible
assets,  accruals,  income  taxes,  inventory  realization  and  other  factors.
Management  has  exercised  reasonable  judgment  in deriving  these  estimates;
however, actual results could differ from these estimates.  Consequently, change
in conditions could affect our estimates.

Fair Value of Financial Instruments:

     The Company considers all highly liquid interest-earning investments with a
maturity of three months or less at the date of purchase to be cash equivalents.
Investments  with  maturities  beyond one year may be  classified  as short-term
based on their  highly  liquid  nature and because  such  marketable  securities
represent the investment of cash that is available for current  operations.  All
cash and  short-term  investments  are  classified as available for sale and are
recorded at market value using the specific  identification  method;  unrealized
gains and losses (excluding  other-than-temporary  impairments) are reflected in
other income.

Results of Operations
                                                  Three Months     Three Months
                                                     Ended            Ended
                                                 March 31, 2004   March 31, 2003
                                                 --------------   --------------
Total Revenue . . . . . . .                      $       6,489    $   1,182,241
                                                 ==============   ==============
 Cost of Sales                                   $           0    $     900,146

 Selling, General and Administrative Expenses    $     127,342    $     274,025

Other Income (Expense)
Depreciation                                     $       1,888    $       2,165
Interest Expense                                 $     117,736    $      40,958
Other                                            $     127,342    $     274,025

Income Taxes                                     $           0    $           0

Net income (loss)                                $    (240,477)   $     (35,053)

                                       6
<PAGE>
THREE MONTHS ENDED MARCH 31, 2005 VS. THREE MONTHS ENDED MARCH 31, 2004


     Revenues  of $6,489 for the three  month  period  ended  March 31,  2005 as
compared to  $1,182,241  for the three month period ended March 31, 2004 reflect
the results principally from the sale of land.

     The cost of sales of $0 for the three month  period ended March 31, 2005 as
compared to the cost of sales of $900,146 for the three month period ended March
31, 2004 represents the cost of sales of land.

     Expenses  from  operations  were  $127,432 for the three month period ended
March 31, 2005 as compared with $274,025 for the  respective  prior year period.
The decrease  from 2005 to 2004 is due  primarily to decreases in personnel  and
related costs  including legal and accounting fees related to the development of
land.

     During the three  month  period  ended  March 31,  2005 the Company had net
interest  expense of $117,736 as compared  with net interest  expense of $40,958
during the three month period ended March 31, 2004, respectively.

     The Company has $0 income  taxes for the three month period ended March 31,
2005 as compared to income  taxes of $0 for the three month  period  ended March
31, 2004.

     During the three  month  period  ended March 31, 2005 the Company had a net
loss of $240,477 as compared to a net loss of $35,053 for the three month period
ended March 31, 2004.

     The  Company  had  a  $68,409   increase  in  accounts  payable  and  other
liabilities  for the period ended March 31, 2005 as compared  with a decrease of
$13,069,585 for the period ended March 31, 2004.

     Stockholders'  equity  decreased by $663,445 to $19,199,975  for the period
ending March 31, 2005 compared $19,863,420 for the period ended March 31, 2004.

Liquidity and Capital Resources

     The Company's  ability to meet its  obligations  in the ordinary  course of
business is dependent upon its ability to establish profitable  operations.  For
the 12 month period of 2004 and 2003,  with limited land sales,  the Company has
had positive cash flow from operations. AUAP needs to raise additional financing
through public or private equity  financing,  bank financing or other sources of
capital for the purposes of acquiring new real estate development properties and
further development of its existing properties.

     The Company's cash increased  $258,672  during the three months ended March
31, 2005.  Cash flows used by operating  activities of $(421,393) and cash flows
used by investing activities of $0 and an effect of exchange in exchange rate of
$422,968  were less than cash flows from  financing  activities  of  $1,103,033.
Operating  activities  used cash flows to reduce the Company's  inventories  and
receivables,  increase  accounts  payable,  decrease  taxes payable and increase
receivables  to related  parties  for the three  months  ended  March 31,  2005.
Investing  activities  were  zero for the three  months  ended  March 31,  2005.
Financing activities provided cash flows from mortgage notes payable.

                                       7
<PAGE>
EFFECT OF RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

     In January 2003, the Financial  Accounting  Standards Board ("FASB") issued
interpretation  No.  46R  ("FIN  46R"),   "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 46R  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
is entitled  to receive a majority of the  entity's  residual  returns.  Certain
provisions of FIN46R were deferred until the period ending after March 15, 2004.
The adoption of FIN 46R for  provisions  effective  during 2003 has no impact on
the Company's financial position, cash flows or result of operations.

     On April 30,  2003,  the FASB issued  Statement  No. 149 ("SFAS No.  149"),
"Amendment of Statement 133 on Derivative  Instruments and Hedging  Activities."
SFAS No.  149  amends  and  clarifies  accounting  for  derivative  instruments,
including certain derivative  instruments  embedded in other contracts,  and for
hedging  activities  under  Statement  No. 133. In  particular,  this  statement
clarifies  under what  circumstances  a contract with an initial net  investment
meets the  characteristic of a derivative as discussed in Statement No. 133, and
it clarifies  when a derivative  contains a financing  component  that  warrants
special  reporting in the statement of cash flows. SFAS No. 149 is effective for
contracts  entered  into or  modified  after  June  30,  2003  and  for  hedging
relationships designated after June 30, 2003 and is to be applied prospectively.
Upon adoption of SFAS No. 149,  there was no effect on its  financial  position,
cash flows or results of operations.

     On May 15,  2003,  the FASB  issued  Statement  No.  150 ("FAS  No.  150"),
Accounting  for  Certain  Financial  Instruments  with  Characteristics  of Both
Liabilities  and Equity.  FAS No. 150  establishes  standards  for how an issuer
classifies and measures certain financial  instruments with  characteristics  of
both  liabilities  and equity.  It requires that an issuer  classify a financial
instrument  that is  within  its  scope  as a  liability  (or an  asset  in some
circumstances).  FAS No. 150 affects the issuer's  accounting for three types of
freestanding financial instruments.

     o    mandatory redeemable shares, which the issuing company is obligated to
          buy back in exchange for cash or other assets

     o    instruments  that do or may require the issuer to buy back some of its
          shares in exchange for cash or other assets;  includes put options and
          forward purchase contracts

     o    obligations  that can be settled  with shares,  the monetary  value of
          which is fixed,  tied solely or  predominantly to a variable such as a
          market  index,  or varies  inversely  with the  value of the  issuers'
          shares.

FAS No. 150 does not apply to features  embedded in a financial  instrument that
is not a  derivative  in its  entirety.  Most of the  guidance in FAS No. 150 is
effective for all financial  instruments  entered into or modified after May 31,
2003,  and otherwise is effective at the  beginning of the first interim  period
beginning  after June 15,  2003.  Upon  adoption of SFAS No.  150,  there was no
effect on its financial position, cash flows or results of operations.

     FASB Statement 123 (Revision  2004),  "Share-Based  Payment," was issued in
December 2004 and is effective for reporting  periods  beginning  after June 15,
2005.  The new statement  requires all  share-based  payments to employees to be
recognized in the financial  statements based on their fair values.  The Company
currently accounts for its share-based payments to employees under the intrinsic
value method of accounting set forth in Accounting  Principles Board Opinion No.
25,  "Accounting  for Stock  Issues to  Employees."  Additionally,  the  company
complies with the stock-based employer compensation  disclosure  requirements of
SFAS  No.  148,  "Accounting  for  Stock-Based  Compensation  -  Transition  and
Disclosure,  an amendment of FASB Statement No. 123." The Company plans to adopt
the new statement in its financial  statements for the quarter ending  September
2005.

ITEM 3. CONTROLS AND PROCEDURES

a)      Evaluation of Disclosure Controls and Procedures.  As of March 31, 2005,
the Company's management carried out an evaluation, under the supervision of the
Company's  Chief  Executive  Officer  and the Chief  Financial  Officer,  of the
effectiveness  of the design and operation of the Company's system of disclosure
controls  and  procedures  pursuant to the  Securities  and  Exchange Act , Rule
13a-15(d) and 15d-15(d) under the Exchange Act. Based upon that evaluation,  the
Chief Executive Officer and Chief Financial Officer concluded that the Company's
disclosure  controls  and  procedures  were  effective,  as of the date of their
evaluation,  for the purposes of recording,  processing,  summarizing and timely
reporting material  information required to be disclosed in reports filed by the
Company under the Securities Exchange Act of 1934.

                                       8
<PAGE>
b)      Changes in  internal  controls.  There were no changes in the  Company's
internal  controls over  financial  reporting,  that occurred  during the period
covered by this report that have materially  affected,  or are reasonably likely
to materially effect, the Company's internal control over financial reporting.

                           PART II. OTHER INFORMATION

ITEM 1 LEGAL PROCEEDINGS

     On December 13, 2004, in connection  with an action being brought against a
shareholder  of the  Company,  the  Supreme  Court  of  Victoria  in  Melbourne,
Australia  placed an  injunction  against  Australian  Agriculture  and Property
Management  Limited,  one of the  Company's  wholly  owned  subsidiaries,  which
restricts  the  Company's  ability to sell  certain  real  estate  holdings  and
prohibits certain business transactions. The Company has been informed, and been
provided wit an opinion, by its Australian counsel that the restrictions against
the Company are without merit.  The Company is currently  vigorously  challenged
the foregoing actions in the Australian courts and does not believe that it will
have a significant impact on the operations of the Company.

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

     There has not been any recent unregistered sale of equity securities by the
     Company.

ITEM 3 DEFAULTS UPON SENIOR SECURITIES.

     There have not been any defaults on any senior Securities.

ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     No matters were submitted to the Security Holders of the Company for a vote
     during the three months ended March 31, 2005.

ITEM 5 OTHER INFORMATION

     The Company has no other information to report.

ITEM 6 EXHIBITS AND REPORTS ON FORM 8-K

Exhibits:

   Number           Exhibit

3.1       Certificate  of  Incorporation   (incorporated  by  reference  to  the
          Company's Registration Statement on Form SB-2, filed on July 21, 2000)
3.2       Amendment to Certificate of  Incorporation  (incorporated by reference
          to the Company's  Registration  Statement on Form SB-2,  filed on July
          21, 2000)
3.3       Amendment to Certificate of  Incorporation  (incorporated by reference
          to the Company's  Registration  Statement on Form SB-2,  filed on July
          21, 2000)
3.4       By-Laws  (incorporated  by  reference  to the  Company's  Registration
          Statement on Form SB-2, filed on July 21, 2000)
3.5       Amendment to Certificate of  Incorporation  (incorporated by reference
          to the Company's Annual  Statement on Form 10-KSB,  filed on April 14,
          2004)
3.6       Amendment to Certificate of  Incorporation  (incorporated by reference
          to the  Company's  Annual  Statement on Form 10-KSB,  filed on May 19,
          2005)
4.1       Agreement between Barry Russell and the Company dated on or about July
          23, 2004  (incorporated  by  reference to the  Company's  Registration
          Statement on Form S-8, filed on March 3, 2004)
4.2       Agreement  between  Benjamin  Mauerberger  and the Company dated on or
          about August 20, 2004  (incorporated  by  reference  to the  Company's
          Registration Statement on Form S-8, filed on March 3, 2004)
4.3       Agreement  between  Gary  Stewart  and the  Company  dated on or about
          August  20,  2004   (incorporated   by  reference  to  the   Company's
          Registration Statement on Form S-8, filed on April 13, 2004)
31.1      Certification of Principal  Executive  Officer pursuant to Section 302
          of the Sarbanes-Oxley Act of 2002
31.2      Certification of Principal  Financial  Officer pursuant to Section 302
          of the Sarbanes-Oxley Act of 2002
32.1      Certification  pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section  906 of the  Sarbanes-Oxley  Act of 2002  (Chief  Executive
          Officer)
32.2      Certification  pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section  906 of the  Sarbanes-Oxley  Act of 2002  (Chief  Financial
          Officer)

                                       9
<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.

AUSTRALIAN AGRICULTER AND PROPERTY
DEVELOPMENT CORPORATION

BY:  /s/ Harry Chauhan
     -----------------
         Harry Chauhan
         President

     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.

       NAME                         TITLE                             DATE
--------------------     ---------------------------             -------------


/s/ Harry Chauhan         Director and President                  May 23, 2005
-----------------
    Harry Chauhan

/s/ Robert Kohn           Director and Chief Financial Officer    May 23, 2005
---------------
    Robert Kohn

                                       10