| Delaware                                         |   | 20-2852541                              |
|--------------------------------------------------|--------|-----------------------------------------|
| (State                  or other jurisdiction of |   | (I.R.S.                  employer       |
| incorporation                  or organization)  |   | identification                  number) |

| c/o                  Spencer Trask Ventures, Inc.535                  Madison Avenue, 18th                  FloorNew                  York, NY |   | 10022                       |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|
| (Address                  of principal executive offices)                                                                                      |   | (Zip                  Code) |

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**ADAGIO        ACQUISITION II, 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      |

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**PART        I - FINANCIAL INFORMATION**

**Item        1.  Financial Statements.**

**ADAGIO        ACQUISITION II, INC.**

***A        DEVELOPMENT STAGE COMPANY***

***BALANCE        SHEET (Unaudited)***

***March        31, 2006***

| ***ASSETS***                                                                                                                                                                                       |   |   |    |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| ***Current                  Assets***                                                                                                                                                              |   |   |    |   |
| ***Cash                  and cash equivalents***                                                                                                                                                   |   | $      | 16,510  |   |
| ***Prepaid                  expenses***                                                                                                                                                            |   |   | 6,250   |   |
|                                                                                                                                                                                               |   |   |    |   |
| ***Total                  Assets***                                                                                                                                                                |   | $      | 22,760  |   |
|                                                                                                                                                                                               |   |   |    |   |
| **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; 2,000,000 shares                  issued                  and outstanding |   |   | 200     |   |
| **Paid-in                  capital**                                                                                                                                                               |   |   | 49,800  |   |
| **(Deficit)                  accumulated during the development stage**                                                                                                                            |   |   | (33,684 | )      |
|                                                                                                                                                                                               |   |   |    |   |
| ***Total                  Stockholder's Equity***                                                                                                                                                  |   |   | 16,316  |   |
|                                                                                                                                                                                               |   |   |    |   |
|                                                                                                                                                                                               |   | $      | 22,760  |   |

*See        notes to interim unaudited financial statements.*

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**ADAGIO        ACQUISITION II, INC.**

***A        DEVELOPMENT STAGE COMPANY***

***STATEMENTS        OF OPERATIONS (Unaudited)***
** **

|                                                                      |   | **For                  the ThreeMonths EndedMarch 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    | )                                                                                                             |   | (34,385 | ) |
| **Investment                  Income**                                    |   |                                                         | 185       |                                                                                                          |   | 701 |   |
| **Net                  (Loss)**                                           |   | $                                                            | (9,384    | )                                                                                                             | $      | (33,684 | ) |
| **Basic                  and Diluted (Loss) Per Share**                   |   | $                                                            | (0.00     | )                                                                                                             | $      | (0.02 | ) |
| **Weighted                  Average Number of Common Shares Outstanding** |   |                                                         | 2,000,000 |                                                                                                          |   | 1,772,595 |   |

*See        notes to interim unaudited financial statements.*

*F-2*

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**ADAGIO        ACQUISITION II, 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  | )                                                                                                             | $      | (33,684 | ) |
| ***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  | )                                                                                                             |   | (33,490 | ) |
| ***Cash                  Flows from Financing Activities***                                                           |   |                                                           |    |                                                                                                          |   |   |   |
| Proceeds                  from issuance of common stock                                                               |   |                                                           | — |                                                                                                          |   | 50,000 |   |
| ***Net                  Increase (decrease) in Cash and Cash                  Equivalents***                          |   |                                                           | (3,155  | )                                                                                                             |   | 16,510 |   |
| ***Cash                  and Cash Equivalents - beginning***                                                          |   |                                                           | 19,665  |                                                                                                          |   | — |   |
| ***Cash                  and Cash Equivalents - end***                                                                |   | $                                                              | 16,510  |                                                                                                          | $      | 16,510 |   |

*See        notes to interim unaudited financial statements.*

*F-3*

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**Adagio        Acquisition II, 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. |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| **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**

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**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.**

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**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 Quarterly Report on Form 10-QSB 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. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**SIGNATURES**

|                               |                                           |                                          |
|------------------------------------|------------------------------------------------|-----------------------------------------------|
| Dated:                May 11, 2006 | **ADAGIO                ACQUISITION II, INC.** |
|                          |                                      |                                     |
|                               | By:                                  | /s/                William P. Dioguardi  |
|                               | William                  P. DioguardiPresident |

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