UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-QSB  (Mark One)  x
        Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.  For the quarterly period ended March 31, 2006.  or  o
        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 000-31361  FUTOMIC INDUSTRIES, INC. (Exact name of registrant as specified in its charter)  New Jersey
        22-3720628(State or other jurisdiction of
        (I.R.S. Employer Identification No.)incorporation or organization)  8717-53 AVENUE, 2ND FLOOR, EDMONTON, ALBERTA, CANADA
        T6E 5E9(Address of principal executive offices)
        (Zip Code)  (780) 485-1257 (Registrants telephone number, including area code)  (Former name, former address and former fiscal year, if changed since last report)  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 preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days. YesxNoo  Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.  Yes
        x
        Noo  State the number of shares outstanding of each of the issuers classes of common equity, as of May 19, 2006: 7,615,000 shares of common stock outstanding, $0.0001 par value.        FUTOMIC INDUSTRIES, INC.





FINANCIAL STATEMENTS



INDEX



PART I-- FINANCIAL INFORMATION




Item 1.
        Financial Statements


Item 2.
        Managements Discussion and Analysis of Financial Condition


Item 3.
        Control and Procedures

PART II-- OTHER INFORMATION




Item 1.
        Legal Proceedings


Item 2.
        Changes in Securities


Item 3.
        Defaults Upon Senior Securities


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


Item 5.
        Other Information


Item 6.
        Exhibits and Reports on Form 8-K

SIGNATURE



Basis of Presentation



The accompanying reviewed financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-QSB and item 310 under subpart A of Regulation S-B. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal occurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the three months ended March 31, 2006 are not necessarily indicative of results that may be expected for the year ending December 31, 2006. The financial statements are presented on the accrual basis.



















FUTOMIC INDUSTRIES INC.

And Subsidiary

(a development stage company)



FINANCIAL STATEMENTS









AS OF MARCH 31, 2006

























FUTOMIC INDUSTRIES INC.

And Subsidiary

(a development stage company)



Financial Statements Table of Contents








FINANCIAL STATEMENTS
        Page #




Balance Sheet
        F-1




Statement of Operations and Retained Deficit
        F-2




Statement of Comprehensive Income
        F-3




Statement of Stockholders Equity
        F-4




Cash Flow Statement
        F-5




Notes to the Financial Statements
        F-6

















FUTOMIC INDUSTRIES, INC.And Subsidiary(a development stage company)BALANCE SHEETSAs of March 31, 2006 and December 31, 2005ASSETSCURRENT ASSETS
        
        
        
        
        3/31/06
        
        12/31/2005Cash
        
        
        
        $
        108
        $
        30,665Total Current Assets
        
        
        108
        
        30,665FIXED ASSETSComputers & Software
        
        
        5,280
        
        5,280Less: Accumulated Depreciation
        
        (3,027)
        
        (2,592)Total Fixed Assets
        
        
        2,253
        
        2,688OTHER ASSETSDeposits
        
        
        
        
        1,070
        
        1,070Total Other Assets
        
        
        1,070
        
        1,070TOTAL ASSETS
        
        $
        3,431
        $
        34,423LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIESAccounts Payable
        
        $
        6,512
        $
        3,626Wages Payable
        
        
        
        15,711
        
        18,711Loans from stockholders
        
        
        68,932
        
        95,941Total Current Liabilities
        
        91,155
        
        118,278TOTAL LIABILITIES
        
        91,155
        
        118,278STOCKHOLDERS' EQUITYPreferred Stock - Par value $0.0001;Authorized: 20,000,000None issues and outstanding
        
        -
        
        -Common Stock - Par value $0.0001;Authorized: 100,000,000Issued and Outstanding: 7,615,000 and 16,371,000
        762
        
        762Additional Paid-In Capital
        
        
        341,662
        
        341,662Foreign Currency translation adjustment
        
        (836)
        
        (836)Accumulated Deficit
        
        
        (429,312)
        
        (425,443)Total Stockholders' Equity
        
        (87,724)
        
        (83,855)TOTAL LIABILITIES AND EQUITY
        $
        3,431
        $
        34,423The accompanying notes are an integral part of these financial statements.





STATEMENT OF OPERATIONSFor the three months ending March 31, 2006,the three months ending March 31, 2005 andfrom inception (June 24, 2003) through March 31, 20063 MONTHS
        
        3 MONTHS
        
        FROMENDING
        
        ENDING
        
        INCEPTION3/31/2006
        
        3/31/2005
        
        TO 3/31/06REVENUE
        
        
        
        
        $
        -
        $
        -
        $
        -COST OF SERVICES
        
        
        
        
        -
        
        -
        
        -GROSS PROFIT OR (LOSS)
        
        
        
        -
        
        -
        
        -GENERAL AND ADMINISTRATIVE EXPENSES
        
        
        3,869
        
        45,675
        
        249,506RESEARCH AND DEVELOPMENT COSTS
        
        
        -
        
        3,104
        
        176,327OPERATING INCOME (LOSS)
        
        
        
        (3,869)
        
        (48,779)
        
        (425,833)INTEREST INCOME
        
        
        
        
        
        -
        
        5
        
        44INTEREST EXPENSE
        
        
        
        
        -
        
        -
        
        3,523NET INCOME (LOSS)
        
        
        
        
        (3,869)
        
        (48,774)
        
        (429,312)ACCUMULATED DEFICIT, BEGINNING BALANCE
        
        
        (202,294)
        
        (153,520)
        
        -ACCUMULATED DEFICIT, ENDING BALANCE
        
        $
        (206,163)
        $
        (202,294)
        $
        (429,312)Earnings (loss) per share
        
        
        
        $
        (0.00)
        $
        (0.00)Weighted average number of common shares
        
        
        7,615,000
        
        16,427,250

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





FUTOMIC INDUSTRIES, INC.And Subsidiary(a development stage company)STATEMENT OF COMPREHENSIVE INCOMEFor the three months ending March 31, 2006 and 20053 MONTHS
        
        3 MONTHSENDING
        
        ENDING3/31/2006
        
        3/31/2005NET INCOME (LOSS)
        
        
        
        $
        (3,869)
        $
        (48,774)FOREIGN CURRENCY TRANSLATION ADJUSTMENTS
        
        (836)
        
        172COMPREHENSIVE INCOME
        
        
        $
        (4,705)
        $
        (48,602)



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




FUTOMIC INDUSTRIES, INC.And Subsidiary(a development stage company)STATEMENT OF STOCKHOLDERS' EQUITYFrom inception (June 24, 2003) through March 31, 2006FOREIGNADDITIONAL
        
        CURRENCYCOMMON
        
        PAID IN
        
        TRANSLATION
        
        ACCUM.
        
        TOTALSHARES
        
        STOCK
        
        CAPITAL
        
        ADJUSTMENT
        
        DEFICIT
        
        EQUITYEquity Balance Pre-Merger
        5,000,000
        $
        500
        $
        2,502
        $
        -
        $
        (4,502)
        $
        (1,500)Shares issued in exchangeof stock for acquisitionof subsidiary on August 15, 2003for $0.01 per share ona one-for-one exchange of11,371,000 common shares areas follows:Exchange for 5,000,000 shares
        
        
        
        
        (4,502)
        
        
        
        4,502
        
        -Adjustment to accumulateddeficit upon mergerStock issued for the purchase of
        10,000,000
        
        1,000
        
        102,582
        
        -
        
        -
        
        103,582research technology and appliedfor patents for a value of $0.01 pershare on July 7, 2003Stock issued for cash on
        
        1,250,000
        
        125
        
        12,375
        
        -
        
        -
        
        12,500July 3, 2003 for $0.01 per shareStock issued for cash on
        
        121,000
        
        12
        
        6,038
        
        -
        
        -
        
        6,050July 18, 2003 for $0.05 per shareForeign currency translation
        
        
        
        
        
        
        871
        
        
        
        871adjustmentNet Loss
        
        
        
        
        
        
        
        
        
        
        (153,520)
        
        (153,520)Total, December 31, 2003
        
        16,371,000
        
        1,637
        
        118,995
        
        871
        
        (153,520)
        
        (32,017)Foreign currency translation
        
        
        
        
        
        
        (1,432)
        
        
        
        (1,432)adjustmentStock issued for cash on
        
        75,000
        
        8
        
        14,992
        
        
        
        
        
        15,000March 15, 2004 for $0.20 per shareStock issued for cash on
        
        500,000
        
        50
        
        249,950
        
        
        
        
        
        250,000July 15, 2004 for $0.50 per shareNet Loss
        
        
        
        
        
        
        
        
        
        
        (184,865)
        
        (184,865)Total, December 31, 2004
        
        16,946,000
        
        1,695
        
        383,937
        
        (561)
        
        (338,385)
        
        46,686Foreign currency translation
        
        
        
        
        
        
        (275)
        
        
        
        (275)adjustmentPurchase of 9,331,000 shares of
        (9,331,000)
        
        (933)
        
        (42,275)
        
        
        
        
        
        (43,208)Treasury Stock on January 1,2005 with property and cashfor $0.005 per share and thenretiredNet Loss
        
        
        
        
        
        
        
        
        
        
        (87,059)
        
        (87,059)Total, December 31, 2005
        
        7,615,000
        $
        762
        $
        341,662
        $
        (836)
        $
        (425,443)
        $
        (83,856)Net Loss
        
        
        
        
        
        
        
        
        
        
        (3,869)
        
        (3,869)Total, March 31, 2005
        
        7,615,000
        $
        762
        $
        341,662
        $
        (836)
        $
        (429,312)
        $
        (87,725)The accompanying notes are an integral part of these financial statements.




FUTOMIC INDUSTRIES, INC.And Subsidiary(a development stage company)STATEMENTS OF CASH FLOWSFor the three months ending March 31, 2006 and 2005,from inception (June 24, 2003) through March 31, 20063 MONTHS
        
        3 MONTHS
        
        FROMENDING
        
        ENDING
        
        INCEPTIONCASH FLOWS FROM OPERATING ACTIVITIES
        
        
        
        03/31/06
        
        3/31/2005
        
        TO 3/31/06Net income (loss)
        
        
        
        
        
        $
        (3,869)
        $
        (48,774)
        $
        (429,312)Adjustment for stock acquisition exchange
        
        
        
        -
        
        -
        
        (1,500)Research costs acquired with stock
        
        
        
        -
        
        -
        
        103,582Foreign currency translation adjustment
        
        
        
        -
        
        (172)
        
        (836)Depreciation
        
        
        
        
        
        
        435
        
        -
        
        3,939(Increase) Decrease in Deposits
        
        
        
        
        -
        
        (170)
        
        (1,070)Increase (Decrease) in Accounts Payable
        
        
        
        2,886
        
        (2,433)
        
        6,512Increase (Decrease) in Wages Payable
        
        
        
        (3,000)
        
        4,000
        
        15,711Total adjustments to net income
        
        
        
        321
        
        1,225
        
        126,338Net cash provided by (used in) operating activities
        
        
        (3,548)
        
        (47,549)
        
        (302,974)CASH FLOWS FROM INVESTING ACTIVITIESCash paid for fixed assets
        
        
        
        
        
        -
        
        -
        
        (14,384)Net cash flows provided by (used in) investing activities
        
        -
        
        -
        
        (14,384)CASH FLOWS FROM FINANCING ACTIVITIESCash received (paid) to shareholder
        
        
        
        
        (27,009)
        
        (23,394)
        
        68,932Proceeds from stock issuance
        
        
        
        
        
        -
        
        -
        
        283,550Purchase of Treasury Stock
        
        
        
        
        
        -
        
        (35,016)
        
        (35,016)Net cash provided by (used in) financing activities
        
        
        (27,009)
        
        (58,410)
        
        317,466CASH RECONCILIATIONNet increase (decrease) in cash
        
        
        
        
        (30,557)
        
        (105,959)
        
        108Cash - beginning balance
        
        
        
        
        
        30,665
        
        114,741
        
        -CASH BALANCE - END OF PERIOD
        
        
        
        
        $
        108
        $
        8,782
        $
        108The accompanying notes are an integral part of these financial statements.






FUTOMIC INDUSTRIES INC.

And Subsidiary

(a development stage company)

FOOTNOTES TO THE FINANCIAL STATEMENTS





1.Summary of significant accounting policies:



Industry Futomic Industries Inc., (the Company), was incorporated in the state of New Jersey on April 6, 2000 and has adopted December 31 as its fiscal year end. On August 13, 2003, the Company filed an amendment to the Certificate of Incorporation to change the name of the Company from Segway VI Corp. to read as 3DLP International Inc. On April 19 2004, the Company filed and amendment to the Certificate of Incorporation to change the name of the Company from 3DLP International Inc. to read as Futomic Industries Inc. On August 15, 2003, the Company acquired in a common stock, one-for-one, share exchange Selectrics Corporation, (the Subsidiary), a company incorporated in the State of Delaware on June 24, 2003 which has adopted December 31 as its fiscal year end. The Subsidiary is an electronics hardware development company involved in the development of visual display
technologies. The Company is considered to be in the development stage (a development stage company) since it is devoting substantially all of its efforts to establishing new technology.



The Accounting Acquirer- Prior to this transaction, the Company was a non-operating corporation with nominal assets. The owners and management of the Selectrics Corporation, (the Subsidiary), a private operating company, have operating control of the Company as a result of the transaction. Therefore, this transaction is a capital transaction in substance, rather than a business combination. That is, the transaction is equivalent to the issuance of stock by a private company for the net monetary assets of the public corporation, accompanied by re-capitalization. The accounting is identical to that resulting from a reverse acquisition, except no goodwill or other intangible asset are recorded. Because Selectrics Corporation is essentially then treated as the acquirer for accounting purposes, the equity accounts are adjusted for the share exchange and carried forward. Prior
accumulated deficits of the Company are adjusted to additional paid in capital therefore carrying forward the accumulated deficit or earnings of Selectrics Corporation  As such, the financial statements for the periods prior to the merger are those of Selectrics Corporation.



Results of Operations, Liquidity, Capital Resources and Going Concern-The Companys financial statements have been presented on the basis that it is a going concern in the development stage, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company, a development stage company, is considered to be an ongoing entity. The Companys shareholders may fund, at their discretion, any shortfalls in the Companys cash flow on a day to day basis during the time period that the Company is in the development stage. The Company may also seek both private and public debt and/or equity funding during this time period.





Cash and Cash Equivalents- The Company considers cash on hand and amounts on deposit with financial institutions which have original maturities of three months or less to be cash and cash equivalents.



Basis of Accounting- The Companys financial statements are prepared in accordance with generally accepted accounting principles.



Research and Development costs- Research and Development costs are expensed as incurred in accordance with generally accepted accounting principles. Costs in association with the development of a patented technology when computer software is developed will be capitalized when technological feasibility is established in accordance with financial accounting standard No. 86



Income Taxes- The Company utilizes the asset and liability method to measure and record deferred income tax assets and liabilities. Deferred tax assets and liabilities reflect the future income tax effects of temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. At this time, The Company has set up an allowance for deferred taxes as there is no company history to indicate the usage of deferred tax assets and liabilities.



Fair Value of Financial Instruments- The Companys financial instruments may include cash and cash equivalents, short-term investments, accounts receivable, accounts payable and liabilities to banks and shareholders. The carrying amount of long-term debt to banks approximates fair value based on interest rates that are currently available to The Company for issuance of debt with similar terms and remaining maturities. The carrying amounts of other financial instruments approximate their fair value because of short-term maturities.



Foreign Currency Translation Adjustments The Company applies Financial Accounting Standard No. 52, Foreign Currency Translation. The Company applies this standard for translation of foreign currency financial statements for the purposes of consolidation. This standard is also applied to accounting for and reporting foreign currency transactions.



Concentrations of Credit Risk- Financial instruments which potentially expose The Company to concentrations of credit risk consist principally of operating demand deposit accounts. The Companys policy is to place its operating demand deposit accounts with high credit quality financial institutions. At this time The Company has no deposits that are at risk.



2.Related Party Transactions:



Partners in the Companys securities law firm, Anslow and Jaclin, LLP, were the original incorporators of the Company and remain as shareholders in the Company. The firm continues to perform services for the Company.





From time-to-time shareholders advance the Company its working capital needs. The balance at December 31, 2005 and December 31, 2004 was $95,942 and $48,015, respectively. Interest is accrued on these loans at a rate of 3% on an annual basis.



On March 23, 2004, the Company entered into a purchase agreement with a stockholder. The agreement called for the purchase of a patent application for the amount of $50,000 which has been expensed in the financial statements as purchased research and development.



3.Accounts Receivable and Customer Deposits:



Accounts receivable and Customer deposits do not exist at this time and therefore have no allowances accounted for or disclosures made.



4.Use of Estimates:



Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Management has no reason to make estimates at this time.



5.Revenue and Cost Recognition:



The Company uses the accrual basis of accounting in accordance with generally accepted accounting principles for financial statement reporting.



6.Foreign Currency Translation Adjustments:



The Company operates a research and development facility in Canada. The Company uses Canadian currency to operate this facility and prepares financial statements for this facility in that currency. These statements have been translated in accordance with Generally Accepted Accounting Principles, FAS - 52. The translation adjustments our shown as part Stockholders Equity and do not effect the Companys revenue and expense. The Company had $(836) and $(561) in translation adjustments for the periods ending December 31, 2005 and 2004, respectively. Transaction gains and losses are shown as revenue or expense by the Company in the Statement of Operations. From inception the Company had no transaction gains or losses.



7.Accrued Expenses:



Accrued expenses consist of accrued legal, accounting and office costs during this stage of the business.



8.Operating and Capital Lease Agreements:



The Company has no agreements at this time.





9.Stockholders Equity:



PREFERRED STOCK:



The Company has authorized 20,000,000 shares of preferred stock at a par value of $0.0001, none of which have been issued and none are outstanding.



COMMON STOCK:



The Company has authorized 100,000,000 shares of Common Stock with a par value of $0.0001. The Company 7,615,000 common shares issued and outstanding.



On Jaunuary 1, 2005 the Company issued cash and other property to a shareholder for the return of 9,331,000 common shares to be held as treasury stock for a value of $43,208 or $.005 per share.



On July 23, 2004, the Company authorized the issuance of 500,000 Common Shares in the form of a private placement offering for $250,000, or $0.50 per share. The Companys management believes this offering to be exempt under the U.S. Securities Act of 1933.



On March 15, 2004, the Company issued for $15,000 cash 75,000 shares of common stock with a par value of $0.0001 and a per share value of $0.20.



On June 24, 2003, Selectrics Corporation, the Subsidiary, was incorporated in the State of Delaware. The Subsidiary has authorized 100,000,000 common shares of stock with no par value.



On July 7, 2003, the Subsidiary issued 10,000,000 shares of its Common Stock for the acquisition of technology and applied patent assignments for a value of $103,582, or $0.01 per share. The value of this transaction was expensed as research and development costs in accordance with generally accepted accounting principles.



On July 1, 2003, the Subsidiary authorized the issuance of 1,250,000 Common Shares of stock to be issued from the Subsidiarys treasury in the form of a private placement offering at a price of $0.01 per share. The Subsidiarys management believes this offering to be exempt under the U.S. Securities Act of 1933. On July 3, 2003, the Subsidiary issued 1,250,000 Common Shares of stock to four shareholders for a total of $12,500, or $0.01 per share.



On July 18, 2003, the Subsidiary authorized the issuance of 250,000 Common Shares of stock to be issued from the Subsidiarys treasury in the form of a private placement offering at a price of $0.05 per share. The Subsidiarys management believes this offering to be exempt under the U.S. Securities Act of 1933. During August of 2003, the Subsidiary issued 121,000 Common Shares of stock for a total of $6,050, or $0.05 per share.





On August 15, 2003, the Company authorized and approved the acquisition of Selectrics Corporation (the Subsidiary), a wholly owned subsidiary, in an exchange of 11,371,000 Common Shares, all of the outstanding shares of stock of the Subsidiary on a one-for-one basis with the Company for a value of $121,882, or $0.01 per share.



On August 15, 2003, the Subsidiary authorized and approved itself in becoming a wholly owned subsidiary of  the Company in an exchange of 11,371,000 Common Shares, all of the outstanding shares, of stock on a one-for-one basis with the Company for a value of $121,882, or $0.01 per share.



10.Required Cash Flow Disclosure for Interest and Taxes Paid:



The company has paid no cash amounts for federal income taxes and interest.



11.Earnings Per Share:



Basic earnings per share (EPS) is computed by dividing earnings available to common shareholders by the weighted-average number of common shares outstanding for the period as required by the Financial Accounting Standards Board (FASB) under Statement of Financial Accounting Standards (SFAS) No. 128, Earnings per Shares. Diluted EPS reflects the potential dilution of securities that could share in the earnings.



12.Litigation, Claims and Assessments:



From time to time in the normal course of business the Company may be involved in litigation. The Companys management has determined that there are no asserted or unasserted claims that they are aware of at this time.



14.Deferred Tax Assets and Liabilities:



The Company, currently a C-Corporation, accounts for income taxes in accordance with Statements on Financial Accounting Standards 109. As of March 31, 2006 the Company had a deferred tax asset in the amount of approximately $86,000 that is derived from a net operating tax loss carryforward of $429,312. The deferred tax assets will expire after 20 years if not used to offset taxable income. There is uncertainty about whether the Company will be in a position of using these tax assets therefore an allowance has been set up to offset these assets. The operating loss carryforwards as follows:




YEARS
        
        OPERATING LOSS2023
        $
        153,5202024
        
        184,8652025
        
        87,0592026
        
        3,869Total
        $
        429,312









Item 2. Managements Discussion and Analysis of Financial Conditions and Results of Operations



The following plan of operation provides information which management believes is relevant to an assessment and understanding of our results of operations and financial condition. The discussion should be read along with our consolidated financial statements and notes thereto. We are a development stage company and since we have not generated any revenue, we intend to report our plan of operation below.



The following discussion and analysis contains forward-looking statements, which involve risks and uncertainties. Our actual results may differ significantly from the results, expectations and plans discussed in these forward-looking statements.



Internet Presence:



Our Internet web site is located at http://www.futomic.com. The web site is designed to illustrate biometric security card features to potential clients.



We are in the early stages of developing a smart card software technology that is being designed for the security industry.



Smart Card Technology:



We are currently researching various possible products related to the biometric security industry. One possible product is a smart card that is made out of plastic and the size of a typical credit card. Smart card technologies in use today have a memory chip that stores information about the owner of the smart card. Certain smart cards also have a fingerprint scanner on the card that is used to verify the cards owner. Another product we are researching is a smart card reader that is secure against unwanted data mining. We anticipate pursuing development of biometric smart card technologies.



We are pursuing consulting agreements to government and large corporations in which the company would be paid fees based on hours and manpowered worked. To date we assisted in the preparation of a tender to the government of Qatar in which we would assist in advising on the implementation of a nation wide biometric smart card. To date we are not aware of being awarded any part of that tender.



Results of Operation



We did not have any operating  income from inception  through March 31, 2006.  From inception  through the period ended March 31, 2006,
we recognized a net loss of $429,312.  For the three months ended March 31, 2006, we recognized a net loss of $3,869.  Expenses for the
year were comprised of costs mainly associated with travel, legal, accounting and office.



Liquidity and Capital Resources



At March 31, 2006,  we had cash of $108.  Therefore we have limited  capital  resources and will rely upon the issuance of common stock
and additional capital  contributions from shareholders to fund  administrative  expenses.  In the event such efforts are unsuccessful,
contingent  plans have been arranged to provide that our current  director is to fund required  future  filings under the 1934 Act, and
existing shareholders have expressed an interest in additional funding if necessary to continue as a going concern.





We currently do not have enough cash to satisfy our minimum cash requirements for the next twelve months. As reflected in the accompanying financial statements, we are in the development stage with limited operations. This raises substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to raise additional capital based upon the companies desired plan of operation. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.



The Company does not intend to use any employees, with the possible exception of part-time clerical assistance on an as-needed basis. Outside advisors or consultants will be used only if they can be obtained for minimal cost or on a deferred payment basis. Management is convinced that it will be able to operate in this manner and to continue its search for business opportunities during the next twelve months.



Critical Accounting Policies



Futomics financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States (GAAP). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenue and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use if estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different
assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.



Our significant accounting policies are summarized in Note 1 of our financial statements. While all these significant accounting policies impact its financial condition and results of operations, Futomic views certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on Futomics consolidated financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Our management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on our consolidated results of operations, financial position or liquidity for the periods presented in this report.




Item 3.
        Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (Exchange Act), as of March 31, 2006. Based on this evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commissions rules and forms and that our disclosure and controls 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 accumulated and communicated to our management, including our principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.



There were no changes (including corrective actions with regard to significant deficiencies or material weaknesses) in our internal controls over financial reporting that occurred during the first quarter of fiscal 2006 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.













PART II - OTHER INFORMATION




Item 1. Legal Proceedings.
        None.


Item 2. Changes in Securities.
        None


Item 3. Defaults Upon Senior Securities.
        Not Applicable


Item 4. Submission of Matters to a Vote of Security Holders.
        None


Item 5. Other Information.
        None


Item 6. Exhibits and Reports of Form 8-K.


(a)
        Exhibits


31.1 302 Certification of CEO and CFO32.1 906 Certification of CEO and CFO


(b)
        Reports of Form 8-K


None.



SIGNATURES



Pursuant to the requirements of Section 13 or 15(d) of the Securities and
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized, on May 22,
2006.






FUTOMIC INDUSTRIES INC.


By:
        /s/Francisco SchipperheijnFrancisco SchipperheijnPresident, Secretary and Director