| Delaware                                                                                                                                              |   | 20-2852425                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization)                                                                         |   | (I.R.S.                employer identification number) |
|                                                                                                                                                  |   |                                                   |
| c/o                Spencer Trask Ventures, Inc.535                Madison                Avenue, 18th                FloorNew                York, NY |   | 10022                                                  |
| (Address                of principal executive offices)                                                                                               |   | (Zip                Code)                              |

----

----

**ADAGIO      ACQUISITION I, INC.**

**-      INDEX -**

|                                                                                                |   | Page   |   |
|-----------------------------------------------------------------------------------------------------|--------|--------|--------|
| **PART                  I - FINANCIAL INFORMATION**:                                                |   |   |   |   |
| Condensed                  Balance Sheets                                                           |   |   |   |   |
| March                  31, 2006 (unaudited)                                                         |   |   | F-1    |   |
| Condensed                  Statements of Operations (unaudited)                                     |   |   |   |   |
| Three                  months ended March 31, 2006 and the period from                              |   |   |   |   |
| April                  22, 2005 (Inception) to March 31, 2006                                       |   |   | F-2    |   |
| Condensed                  Statements of Cash Flows (unaudited)                                     |   |   |   |   |
| Three                  months ended March 31, 2006 and the period from                              |   |   |   |   |
| April                  22, 2005 (Inception) to March 31, 2006                                       |   |   | F-3    |   |
|                                                                                                |   |   |   |   |
| Notes                  to Interim Unaudited Condensed Financial Statements                          |   |   | F-4    |   |
|                                                                                                |   |   |   |   |
| Item                  2. Management's Discussion and Analysis or Plan of                  Operation |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  3. Controls and Procedures                                                    |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| **PART                  II - OTHER INFORMATION**:                                                   |   |   |   |   |
|                                                                                                |   |   |   |   |
| Item                  1. Legal Proceedings                                                          |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  2. Unregistered Sales of Equity Securities and Use of Proceeds                |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  3. Defaults Upon Senior Securities                                            |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  4. Submission of Matters to a Vote of Security Holders                        |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  5. Other Information                                                          |   |   | 1      |   |
|                                                                                                |   |   |   |   |
| Item                  6. Exhibits                                                                   |   |   | 2      |   |
|                                                                                                |   |   |   |   |
| Signatures                                                                                          |   |   | 3      |   |

----

**PART      I - FINANCIAL INFORMATION**

**Item      1. Financial Statements.**

| **ADAGIO                ACQUISITION I, INC.**                                                       |   |   |    |
|-----------------------------------------------------------------------------------------------------|--------|--------|---------|
| ***A                DEVELOPMENT STAGE COMPANY***                                                    |   |   |    |
| ***BALANCE                SHEET (Unaudited)***                                                      |   |   |    |
| ***March                31, 2006***                                                                 |   |   |    |
|                                                                                                |   |   |    |
| ***ASSETS***                                                                                        |   |   |    |   |
| ***Current                Assets***                                                                 |   |   |    |   |
| ***Cash                and cash equivalents***                                                      |   | $      | 16,532  |   |
| ***Prepaid                expenses***                                                               |   |   | 6,250   |   |
| ***Total                Assets***                                                                   |   | $      | 22,782  |   |
| **LIABILITIES                AND STOCKHOLDER'S EQUITY**                                             |   |   |    |   |
| ***Current                Liabilities***                                                            |   |   |    |   |
| Accounts                payable and accrued expenses                                                |   | $      | 6,444   |   |
| ***STOCKHOLDER'S                EQUITY***                                                           |   |   |    |   |
|  ***Preferred stock*** - $.0001 par value - 10,000,000 shares                authorized;       |   |   |    |   |
| -0-                shares issued and outstanding                                                    |   |   | — |   |
| ***Common                stock*** - $.0001 par value - 75,000,000 shares                authorized; |   |   |    |   |
| 1,500,000                shares issued and outstanding                                              |   |   | 150     |   |
| **Paid-in                capital**                                                                  |   |   | 49,850  |   |
| **(Deficit)                accumulated during the development stage**                               |   |   | (33,662 | ) |
| ***Total                Stockholder's Equity***                                                     |   |   | 16,338  |   |
|                                                                                                |   | $      | 22,782  |   |

*See        notes to interim unaudited financial        statements.*

*F-1*

----

| **ADAGIO                ACQUISITION I, INC.**                           |   |                                                     |      |                                                                                                  |   |
|-------------------------------------------------------------------------|--------|----------------------------------------------------------|-----------|-------------------------------------------------------------------------------------------------------|--------|
| ***A                DEVELOPMENT STAGE COMPANY***                        |   |                                                     |      |                                                                                                  |   |
| ***STATEMENTS                OF OPERATIONS (Unaudited)***          |   |                                                     |      |                                                                                                  |   |
|                                                                    |   | For                the Three Months Ended March 31, 2006 |      | Cumulative                Period From April 22, 2005 (Inception)Through March 31,                2006 |   |
| **Net                Sales**                                            |   | $                                                        | —   |                                                                                                  | $      | — |   |
| **Cost                of Sales**                                        |   |                                                     | —   |                                                                                                  |   | — |   |
| **Gross                Profit**                                         |   |                                                     | —   |                                                                                                  |   | — |   |
| **General                and Administrative Expenses**                  |   |                                                     | (9,569    | )                                                                                                     |   | (34,363 | ) |
| **Investment                Income**                                    |   |                                                     | 185       |                                                                                                  |   | 701 |   |
| **Net                (Loss)**                                           |   | $                                                        | (9,384    | )                                                                                                     | $      | (33,662 | ) |
| **Basic                and Diluted (Loss) Per Share**                   |   | $                                                        | (0.01     | )                                                                                                     | $      | (0.03 | ) |
| **Weighted                Average Number of Common Shares Outstanding** |   |                                                     | 1,500,000 |                                                                                                  |   | 1,329,446 |   |

*See      notes to interim unaudited financial      statements.*

*F-2*

----

| **ADAGIO                ACQUISITION I, INC.**                                            |   |                                                               |       |                                                                                                      |   |
|------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|------------|-----------------------------------------------------------------------------------------------------------|--------|
| ***A                DEVELOPMENT STAGE COMPANY***                                         |   |                                                               |       |                                                                                                      |   |
| ***STATEMENTS                OF CASH FLOWS (Unaudited)***                           |   |                                                               |       |                                                                                                      |   |
|                                                                                     |   |  **For                the Three Months Ended March 31, 2006** | ** ** | **Cumulative                Period From April 22, 2005 (Inception)Through March 31,                2006** |   |
| ***Cash                Flows from Operating Activities***                                |   |                                                               |       |                                                                                                      |   |   |   |
| Net                (Loss)                                                                |   | $                                                                  | (9,384     | )                                                                                                         | $      | (33,662 | ) |
| ***Adjustments                to reconcile net (loss) to***                              |   |                                                               |       |                                                                                                      |   |   |   |
| ***net                cash used in operating activities:***                              |   |                                                               |       |                                                                                                      |   |   |   |
| Decrease                (increase) in prepaid expenses                                   |   |                                                               | 3,125      |                                                                                                      |   | (6,250 | ) |
| Increase                in accounts payable and accrued liabilities                      |   |                                                               | 3,104      |                                                                                                      |   | 6,444 |   |
| ***Net                cash used in operating activities:***                              |   |                                                               | (3,155     | )                                                                                                         |   | (33,468 | ) |
| ***Cash                Flows from Financing Activities***                                |   |                                                               |       |                                                                                                      |   |   |   |
| Proceeds                from issuance of common stock                                    |   |                                                               | —    |                                                                                                      |   | 50,000 |   |
| ***Net                Increase (decrease) in Cash and Cash                Equivalents*** |   |                                                               | (3,155     | )                                                                                                         |   | 16,532 |   |
| ***Cash                and Cash Equivalents - beginning***                               |   |                                                               | 19,687     |                                                                                                      |   |  — |   |
| ***Cash                and Cash Equivalents - end***                                     |   | $                                                                  | 16,532     |                                                                                                      | $      | 16,532 |   |

*See        notes to interim unaudited financial        statements.*

*F-3*

----

**Adagio      Acquisition I, Inc.**

***A      Development Stage Company***

***Notes      to Interim Unaudited Financial Statements***

| **1.  ** | **Development                Stage Company** |
|--------------------|----------------------------------------------|

| **2.  ** | **Summary                of Significant Accounting                Policies** |
|--------------------|------------------------------------------------------------------------------|

| **a**.   | ***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 amounts of assets                and                liabilities and disclosure of contingent assets and liabilities at                the                date of the balance sheet and reported amounts of revenues and expenses                during the reporting period. Actual results could differ from those                estimates. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **b.**   | ***Cash                and Cash Equivalents*****-**For                purposes of the statement of cash flows,                the Company considers highly liquid financial instruments purchased                with a maturity of three months or less to be cash                equivalents. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **c.**   | ***Income                Taxes***                -                The Company utilizes the liability method of accounting for                income taxes. Under the liability method, deferred tax assets and                 liabilities                are determined based on the differences between financial reporting                basis and tax basis of the assets and liabilities and are measured                using                enacted tax rates that will be in effect when the differences are                expected                to reverse. An allowance against deferred tax assets is recognized,                when it is more likely than not, that such tax benefits will not                be                realized. The Company has a deferred tax asset which is fully offset                by a                valuation allowance. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **d.**   | ***Loss                per Common Share***                -                Basic loss per share is calculated using the weighted-average number                of                common shares outstanding during each period.                Diluted loss per share includes potentially dilutive securities such                as                outstanding options and warrants, using various methods such as the                 *treasury                stock*                or                *modified                treasury stock*                method in the determination of dilutive                shares outstanding during each period. The Company does not have                any potentially dilutive                instruments. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **e.**   | ***Fair                Value of Financial Instruments*****-**The                carrying value of cash equivalents, prepaid expenses and accounts                payable                and accrued expenses approximate fair value due to their short-term                nature. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**3.      Related Party Transactions **

**4.**
**Recent      Accounting Pronouncements**

**5.**
**INTERIM      FINANCIAL STATEMENTS**

----

**Item      2. Management’s Discussion and Analysis or Plan of Operation.**

**Item      3. Controls and Procedures.**

**PART      II — OTHER INFORMATION**

**Item      1. Legal Proceedings. **

**Item      2. Unregistered Sales of Equity Securities and Use of Proceeds.**

**Item      3. Defaults Upon Senior Securities.**

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

**Item      5. Other Information.**

----

**Item      6. Exhibits.**

| Exhibit |   | Description                                                                                                                                                                                                                                                                                                                                     |
|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                                                                                                                                                                                                            |
|    |   |                                                                                                                                                                                                                                                                                                                                            |
| *3.1    |   | Certificate                of Incorporation                                                                                                                                                                                                                                                                                                     |
|    |   |                                                                                                                                                                                                                                                                                                                                            |
| *3.2    |   | Amendment                to Certificate of Incorporation                                                                                                                                                                                                                                                                                        |
|    |   |                                                                                                                                                                                                                                                                                                                                            |
| *3.3    |   | By-laws                                                                                                                                                                                                                                                                                                                                         |
|    |   |                                                                                                                                                                                                                                                                                                                                            |
| 31.1    |   | Certification                of the Company’s Principal Executive Officer and Principal Financial                Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002,                with                respect to the registrant’s Annual Report on Form 10-KSB for the year                ended December 31, 2005 |
|    |   |                                                                                                                                                                                                                                                                                                                                            |
| 32.1    |   | Certification                of the Company’s Principal Executive Officer and Principal Financial                Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to                Section                906 of the Sarbanes Oxley Act of                2002.                                                           |

| * | Filed                as an exhibit to the Company's registration statement on Form 10-SB/A,                as                filed with                the Securities and Exchange Commission on November 8, 2005, and                incorporated herein                by this reference. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                             |                                        |                                    |
|----------------------------------|---------------------------------------------|-----------------------------------------|
|                             | **ADAGIO              ACQUISITION I, INC.** |
|                        |                                   |                               |
| Dated:              May 11, 2006 | By:                               | /s/              William P. Dioguardit6 |
|                             | William              P. Dioguardi           |
|                             | President                                   |

----