**UNITEDSTATES**

**SECURITIESAND EXCHANGE COMMISSION**

**Washington,D.C. 20549**

**FORM10-QSB**

| **(Mark One)** | ** **                                                                                              |
|----------------|---------------------------------------------------------------------------------------------------------|
| ** **     | ** **                                                                                              |
| **x**          | **QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF  THE SECURITIES EXCHANGE ACT OF 1934**                  |
| ** **     | ** **                                                                                              |
| ** **     | **For the  quarterly period ended: June 30, 2007**                                                      |
| ** **     | ** **                                                                                              |
| **o**          | **TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF  THE EXCHANGE ACT**                                    |
| ** **     | ** **                                                                                              |
| ** **     | **For the  transition period from           to** |

 

**CommissionFile Number: 000-52029**

**PLATINUM RESEARCH ORGANIZATION,INC.**

(Exact name ofsmall business issuer as specified in its charter)

| **Delaware**                                         |   | **20-2842514**                     |
|------------------------------------------------------|--------|------------------------------------|
| (State or other  jurisdiction of                     |   | (IRS Employer  Identification No.) |
| incorporation or  organization)                      |   |                               |
| ** **                                           |   | ** **                         |
| **2777  Stemmons Freeway, Suite 1440, Dallas Texas** |   | **75207**                          |
| (Address of  principal executive offices)            |   | (Zip code)                         |

 

Issuer’s telephonenumber:                **(214) 849-9800**

**2828 Routh Street, 5****th Floor, Dallas, Texas 75201**

(Former names,former address and former fiscal year, if changed since last report)
| Check whether the issuer (1) filed all reports  required to be filed by Section 13 or 15(d) of the Exchange Act during the  past 12 months (or for such shorter period that the registrant was required  to file such reports), and (2) has been subject to such |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| filing requirements for the past 90 days.                                                                                                                                                                                                                        | Yes x  No o |
|                                                                                                                                                                                                                                                             |   |
| Indicate by check mark whether the registrant is a  shell company (as defined in Rule 12b-2 of the Exchange Act).                                                                                                                                                |
| Yes o  No x                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                             |
| State the number of shares outstanding of each of  the issuer’s classes of common equity, as of the latest practicable date:                                                                                                                                |
| **75,000,000  shares of common stock issued and outstanding as of August 10, 2007**                                                                                                                                                                              |
| ** **                                                                                                                                                                                                                                                       |
| Transitional Small Business Disclosure Format (Check  one):                                                                                                                                                                                                      | Yes o  No x |

 

 

----

**TABLEOF CONTENTS**
|                                                                                              | ** ** | **Page No.** |
|----------------------------------------------------------------------------------------------|------------|--------------|
| ** **                                                                                   | ** ** | ** **   |
| NOTE REGARDING FORWARD-LOOKING INFORMATION                                                   |       | 1            |
|                                                                                         |       |         |
| PART I: FINANCIAL INFORMATION                                                                |       | 1            |
| Item 1. Financial Statements (unaudited)                                                     |       | 1            |
| Balance  Sheets as of June 30, 2007 and December 31, 2006                                    |       | 2            |
| Statements  of Operations for the Three- and Six-Month Periods Ended June 30, 2007 and  2006 |       | 3            |
| Statements  of Cash Flows for the Six-Month Periods Ended June 30, 2007 and 2006             |       | 4            |
| Statement of Changes in Shareholders’ Equity                                            |       | 5            |
| Notes to Financial Statements                                                                |       | 6            |
| Item 2. Management’s Discussion and Analysis or Plan  of Operation                      |       | 15           |
| Item 3. Controls and Procedures                                                              |       | 18           |
|                                                                                         |       |         |
| PART  II: OTHER INFORMATION                                                                  |       | 19           |
| Item 4. Submission of Matters to a Vote of Security  Holders                                 |       | 19           |
| Item  6. Exhibits                                                                            |       | 20           |
|                                                                                         |       |         |
| SIGNATURES                                                                                   |       | 21           |
| EXHIBIT INDEX                                                                                |       | 22           |

 

----

**NOTE CONCERNING FORWARD-LOOKING INFORMATION**

The statements contained in this Form 10-QSB that are not purelyhistorical are forward-looking statements within the meaning of Section 27A ofthe Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. These include statements about our expectations, beliefs, intentions orstrategies for the future, which are indicated by words or phrases such as “anticipate,”“expect,” “intend,” “plan,” “will,” “believe,” “management believes” andsimilar words or phrases. The forward-looking statements are based on ourcurrent expectations and are subject to certain risks, uncertainties andassumptions. Our actual results could differ materially from resultsanticipated in these forward-looking statements. All forward-looking statementsincluded in this document are based on information available to us on the datehereof, and we assume no obligation to update any such forward-lookingstatements.

**PARTI - FINANCIAL INFORMATION**

**Item1. Financial Statements**

The interim financial statements included herein are unaudited butreflect, in management’s opinion, all adjustments, consisting only of normalrecurring adjustments necessary for a fair presentation of financial positionand the results of our operations for the interim periods presented.

The interim financial statements should be read in conjunction with thefinancial statements of Platinum Research Organization, Inc. (the “Company”)and the notes thereto contained in the Company’s audited financial statementsfor the year ended December 31, 2006 presented in the Annual Report on Form10-KSB that was filed with the Securities and Exchange Commission (the “SEC”)on March 23, 2007.

Interimresults are not necessarily indicative of results for the full fiscal year.

1

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**Platinum Research Organization, Inc.**

**(A Development Stage Company)**

**Balance Sheet**

**U.S. Dollars**

**(Unaudited)**
| ** **                                                       | ** ** | **June 30, 2007** | ** ** | **December 31, 2006** | ** ** |
|------------------------------------------------------------------|------------|-----------------------------|------------|---------------------------------|------------|
| **Assets**                                                       | ** ** | ** **                  | ** ** | ** **                      | ** ** |
| ** **                                                       | ** ** | ** **                  | ** ** | ** **                      | ** ** |
| Current Assets                                                   |       |                        |       |                            |       |
| Cash –  unrestricted                                        |       | $                           | 3,517,377  |                            | $          | 211,778 |   |
| Cash-Restricted                                                  |       | 1,565,667                   |       | 1,527,389                       |       |
| Total Cash                                                       |       | 5,083,044                   |       | 1,739,167                       |       |
| Accounts  Receivable                                             |       | 3,745                       |       | 3,301                           |       |
| Total Current  Assets                                            |       | 5,086,789                   |       | 1,742,468                       |       |
|                                                             |       |                        |       |                            |       |
| Property, Plant and  Equipment - net of accumulated depreciation |       | 3,628                       |       | 1,402                           |       |
|                                                             |       |                        |       |                            |       |
| Other Assets                                                     |       |                        |       |                            |       |
| Loan Issuance  Costs - Net of accumulated amortization           |       | 241,908                     |       | 327,254                         |       |
| Intellectual  Property - Net of accumulated amortization         |       | 3,557,371                   |       | 3,698,207                       |       |
| Intellectual  Property - non amortizable                         |       | 172,322                     |       | 133,490                         |       |
| Total Other  Assets                                              |       | 3,971,601                   |       | 4,158,951                       |       |
| ** **                                                       |       |                        |       |                            |       |
| **Total Assets**                                                 |       | $                           | 9,062,018  |                            | $          | 5,902,821 |   |
| ** **                                                       |       |                        |       |                            |       |
| **Liabilities and Shareholders’  Equity**                   |       |                        |       |                            |       |
|                                                             |       |                        |       |                            |       |
| Current Liabilities                                              |       |                        |       |                            |       |
| Accounts Payable                                                 |       | $                           | 270,357    |                            | $          | 134,187 |   |
| Accrued Interest                                                 |       | 70,000                      |       | 70,000                          |       |
| Preferred  Dividend Payable                                      |       | 93,699                      |       | —                          |       |
| Total Current Liabilities                                        |       | 434,056                     |       | 204,187                         |       |
|                                                             |       |                        |       |                            |       |
| Long Term Debt                                                   |       | 6,000,000                   |       | 6,000,000                       |       |
|                                                             |       |                        |       |                            |       |
| Shareholders’ Equity                                        |       | 2,627,962                   |       | (301,366                        | )          |
| ** **                                                       |       |                        |       |                            |       |
| **Total Liabilities and Shareholders’ Equity**              |       | $                           | 9,062,018  |                            | $          | 5,902,821 |   |

 

*The accompanying notes are an integral part of these financialstatements.*

2

----

**Platinum Research Organization, Inc.**

**(A Development Stage Company)**

**Statements of Operations**

**U.S. Dollars**

**(Unaudited)**
| ** **                                                                | ** ** | **Three Months Ended** | ** ** | **Incr/**    | ** ** | **Six Months Ended** | ** ** | **Incr/**      | ** ** | **For the   Period   From Date   of Inception** | ** ** |
|---------------------------------------------------------------------------|------------|----------------------------------|------------|--------------|------------|--------------------------------|------------|----------------|------------|-------------------------------------------------------------------------------|------------|
| ** **                                                                | ** ** | **6/30/07**                      | ** ** | **6/30/06**  | ** ** | **(Decr)**                     | ** ** | **6/30/07**    | ** ** | **6/30/06**                                                                   | ** ** | **(Decr)** | ** ** | **to 6/30/07** | ** ** |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| Sales                                                                     |       | —                           |       | —       |       | —                         |       | —         |       | —                                                                        | ** ** | **—** | ** ** | **—** | ** ** |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          | ** ** | ** ** | ** ** | ** ** | ** ** |
| Cost of Goods  Sold                                                       |       | —                           |       | —       |       | —                         |       | —         |       | —                                                                        | ** ** | **—** | ** ** | **—** | ** ** |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          | ** ** | ** ** | ** ** | ** ** | ** ** |
| Gross Profit                                                              |       | —                           |       | —       |       | —                         |       | —         |       | —                                                                        |       | — |   | — |   |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| **Selling  General and Administrative Expenses**                          |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| ** **                                                                |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| Salaries                                                                  |       | 152,754                          |       | 73,132       |       | 79,622                         |       | 275,044        |       | 145,553                                                                       |       | 129,491 |   | 1,071,515 |   |
| Travel                                                                    |       | 40,081                           |       | 35,116       |       | 4,965                          |       | 69,240         |       | 50,604                                                                        |       | 18,636 |   | 292,905 |   |
| Product  Evaluation / Technical Support                                   |       | 56,558                           |       | 31,375       |       | 25,183                         |       | 108,976        |       | 72,750                                                                        |       | 36,226 |   | 496,902 |   |
| Outside Legal and  Professional Fees                                      |       | 395,494                          |       | 72,745       |       | 322,749                        |       | 526,121        |       | 144,295                                                                       |       | 381,826 |   | 1,456,086 |   |
| Contribution  Agreement Related Costs                                     |       | 200,317                          |       | —       |       | 200,317                        |       | 339,783        |       | —                                                                        |       | 339,783 |   | 339,783 |   |
| Insurance                                                                 |       | 61,438                           |       | 16,695       |       | 44,743                         |       | 78,036         |       | 25,595                                                                        |       | 52,441 |   | 246,066 |   |
| Rent                                                                      |       | 14,306                           |       | 6,503        |       | 7,803                          |       | 23,283         |       | 10,839                                                                        |       | 12,444 |   | 95,708 |   |
| Other                                                                     |       | 22,560                           |       | 9,885        |       | 12,675                         |       | 36,320         |       | 13,693                                                                        |       | 22,627 |   | 128,103 |   |
| **Total  SG&A**                                                       |       | 943,508                          |       | 245,451      |       | 698,057                        |       | 1,456,803      |       | 463,329                                                                       |       | 993,474 |   | 4,127,068 |   |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| **Depreciation  and Amortization**                                        |       | 122,880                          |       | 121,828      |       | 1,052                          |       | 245,355        |       | 243,440                                                                       |       | 1,915 |   | 1,456,409 |   |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| Other Income                                                              |       | 59,944                           |       | 35,493       |       | 24,451                         |       | 88,030         |       | 71,793                                                                        |       | 16,237 |   | 354,572 |   |
| Interest Expense                                                          |       | 234,794                          |       | 210,000      |       | 24,794                         |       | 444,794        |       | 420,000                                                                       |       | 24,794 |   | 2,670,528 |   |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| **Net Loss  Before Taxes**                                                |       | (1,241,238                       | )          | (541,786     | )          | (699,452                       | )          | (2,058,922     | )          | (1,054,976                                                                    | )          | (1,003,946 | ) | (7,899,433 | ) |
| ** **                                                                |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| Income Tax -  Current                                                     |       | —                           |       | —       |       | —                         |       | —         |       | —                                                                        |       | — |   | — |   |
| Income Tax -  Deferred                                                    |       | —                           |       | —       |       | —                         |       | —         |       | —                                                                        |       | — |   | — |   |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| **Net Loss**                                                              | ** ** | **(1,241,238**                   | **)**      | **(541,786** | **)**      | **(699,452**                   | **)**      | **(2,058,922** | **)**      | **(1,054,976**                                                                | **)**      | **(1,003,946** | **)** | **(7,899,433** | **)** |
| ** **                                                                | ** ** | ** **                       | ** ** | ** **   | ** ** | ** **                     | ** ** | ** **     | ** ** | ** **                                                                    | ** ** | ** ** | ** ** | ** ** | ** ** |
| Loss per Common  Share - Basic                                            |       | $                                | (0.02      | )            | $          | (0.02                          | )          | $              | (0.00      | )                                                                             | $          | (0.04 | ) | $ | (0.04 | ) | $ | (0.00 | ) | $ | (0.27 | ) |
|                                                                      |       |                             |       |         |       |                           |       |           |       |                                                                          |       |   |   |   |   |
| Weighted Average Number  of Shares used in per share calculations - Basic |       | 68,571,429                       |       | 22,609,890   |       | 45,961,539                     |       | 55,483,425     |       | 27,582,873                                                                    |       | 27,900,552 |   | 29,721,503 |   |
|                                                                           |            |                                  |            |              |            |                                |            |                |            |                                                                               |            |  |  |  |  |  |  |  |  |  |  |  |

 

*The accompanying notes are an integral part of these financialstatements.*

3

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**Platinum Research Organization, Inc.**

**(A Development Stage Company)**

**Statements of Cash Flows**

**U.S. Dollars**

**(Unaudited)**
| ** **                                                            | ** ** | **Six-Month Period Ended** | ** ** | **Inception to** | ** ** |
|-----------------------------------------------------------------------|------------|--------------------------------------|------------|-----------------------|------------|
| ** **                                                            | ** ** | **6/30/2007**                        | ** ** | **6/30/2006**         | ** ** | **6/30/2007** | ** ** |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Cash  Flow From Operating Activities**                              |       |                                 |       |                  |       |   |   |
| Net Loss for the  Period                                              |       | $                                    | (2,058,922 | )                     | $          | (1,054,976 | ) | $ | (7,899,433 | ) |
| Items not  requiring Cash                                             |       |                                 |       |                  |       |   |   |
| Depreciation and Amortization                                         |       | 245,355                              |       | 243,440               |       | 1,456,409 |   |
| Option Expense                                                        |       | 81,412                               |       | —                |       | 81,412 |   |
| Changes in  Assets and Liabilities                                    |       |                                 |       |                  |       |   |   |
| (Increase) / Decrease in Receivables                                  |       | 94                                   |       | (94                   | )          | (3,207 | ) |
| Increase / (Decrease) in Payables                                     |       | 136,170                              |       | (4,297                | )          | 270,357 |   |
| Increase / (Decrease) in Accrued Interest                             |       | —                               |       | —                |       | 1,167,681 |   |
| **Net Cash Used in Operating Activities**                             | ** ** | **(1,595,891**                       | **)**      | **(815,927**          | **)**      | **(4,926,781** | **)** |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Cash  Flow From Investing Activities**                              |       |                                 |       |                  |       |   |   |
| Purchases of Property, Plant and Equipment                            |       | (2,652                               | )          | (715                  | )          | (5,625 | ) |
| Investment in Intellectual Property                                   |       | (57,580                              | )          | (22,984               | )          | (304,209 | ) |
| **Net Cash Used in Investing Activities**                             | ** ** | **(60,232**                          | **)**      | **(23,699**           | **)**      | **(309,834** | **)** |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Cash  Flow From Financing Activities**                              |       |                                 |       |                  |       |   |   |
| Net Proceeds—Long Term Debt                                      |       | —                               |       | —                |       | 5,550,000 |   |
| Preferred Shares Issued for Cash                                      |       | 4,500,000                            |       | —                |       | 4,500,000 |   |
| Funds Received From Previously Controlled Entity                      |       | 500,000                              |       | —                |       | 500,000 |   |
| Loan Costs/Other                                                      |       | —                               |       | —                |       | (230,341 | ) |
| **Net Cash Generated From Financing Activities**                      | ** ** | **5,000,000**                        |       | —                | ** ** | **10,319,659** | ** ** |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Increase  (decrease) in cash and cash equivalents**                 |       | 3,343,877                            |       | (839,626              | )          | 5,083,044 |   |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Cash  and Cash Equivalents Beginning of Period**                    |       | 1,739,167                            |       | 3,553,211             |       | — |   |
|                                                                  |       |                                 |       |                  |       |   |   |
| **Cash  and Cash Equivalents End of Period**                          |       | $                                    | 5,083,044  |                  | $          | 2,713,585 |   | $ | 5,083,044 |   |
| ** **                                                            |       |                                 |       |                  |       |   |   |
| Supplemental  Disclosures:                                            |       |                                 |       |                  |       |   |   |
| ** **                                                            |       |                                 |       |                  |       |   |   |
| Cash Paid During  the Period for:                                     |       |                                 |       |                  |       |   |   |
| Interest                                                              |       | $                                    | 444,794    |                  | $          | 420,000 |   | $ | 2,124,794 |   |
| Income Tax                                                            |       | —                               |       | —                |       | — |   |
|                                                                  |       |                                 |       |                  |       |   |   |
| Non—Cash Items                                                   |       |                                 |       |                  |       |   |   |
| Purchase of Intellectual Property Through the  Assumption of Debt     |       | —                               |       | —                |       | $ | 4,475,789 |   |
| Partners Capital Contribution Resulting from the  Forgiveness of Debt |       | —                               |       | —                |       | $ | 5,536,597 |   |
| Loan Costs Netted Against Proceeds of Loan                            |       | —                               |       | —                |       | $ | 450,000 |   |
| Preferred Dividends                                                   |       | $                                    | 93,700     |                  | —     |   | $ | 93,700 |   |

 

*The accompanying notes are an integral part of these financialstatements.*

4

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**Platinum Research Organization, Inc.**

**(A Development Stage Company)**

**Statement of Changes in ShareholdersEquity**

**U.S. Dollars**

**(Unaudited)**
| ** **                                                  | ** ** | **Number  Common   Shares  Issued** | ** ** | **Number  Preferred  Shares  Issued** | ** ** | **Number  of  Warrants  Issued** | ** ** | **Capital  Stock  $** | ** ** | **Preferred  Stock  $** | ** ** | **Paid in  Capital and  Distributions  $** | ** ** | **Subscrip-  tions  Payable  $** | ** ** | **Warrants  $** | ** ** | **Deficit  Accumulated  $** | ** ** | **Shareholders  Equity  $** | ** ** |
|-------------------------------------------------------------|------------|------------------------------------------|------------|---------------------------------------|------------|----------------------------------|------------|-----------------------|------------|-------------------------|------------|------------------------------------------------------|------------|----------------------------------|------------|-----------------|------------|-----------------------------|------------|-----------------------------|------------|
| **Balance  at April 28, 2004 – Date of Inception**     | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              | ** ** | ** **                                           | ** ** | ** **                       | ** ** | ** **      | ** ** | ** **                  | ** ** | ** **                  | ** ** |
| Forgiveness of Debt (Note 11)                               |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | 5,536,597                                            |       |                             |       |            |       |                        |       | 5,536,597                   |       |
| Capital Contributions                                       |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | 4,484                                                |       |                             |       |            |       |                        |       | 4,484                       |       |
| Distributions                                               |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | (145                                                 | )          |                             |       |            |       |                        |       | (145                        | )          |
| Net Loss                                                    |       |                                     |       |                                  |       |                             |       |                  |       |                    |       |                                                 |       |                             |       |            |       | (1,347,794                  | )          | (1,347,794                  | )          |
| **Balance at December 31, 2004**                            |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | 5,540,936                                            |       |                             |       |            |       | (1,347,794                  | )          | 4,193,142                   |       |
| Capital  Contributions                                      | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | 1,938                                                |       |                             |       |            |       |                        |       | 1,938                       |       |
| Distributions                                               | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | (4,740                                               | )          |                             |       |            |       |                        |       | (4,740                      | )          |
| Net Loss                                                    | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       |                                                 |       |                             |       |            |       | (2,147,610                  | )          | (2,147,610                  | )          |
| **Balance at December 31, 2005**                            |       |                                     |       |                                  | ** ** | ** **                       |       |                  |       |                    |       | 5,538,134                                            |       |                             |       |            |       | (3,495,404                  | )          | 2,042,730                   |       |
| Capital  Contributions                                      | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | 1,086                                                |       |                             |       |            |       |                        |       | 1,086                       |       |
| Distributions                                               | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | (75                                                  | )          |                             |       |            |       |                        |       | (75                         | )          |
| Earnings Charge  for options expense (Note 5)               | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       |                                                 |       |                             |       |            |       |                        |       |                        |       |
| Net Loss for  period                                        | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       |                                                 |       |                             |       |            |       | (2,345,107                  | )          | (2,345,107                  | )          |
| **Balance  at December 31, 2006**                           | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | 5,539,145                                            |       |                             |       |            |       | (5,840,511                  | )          | (301,366                    | )          |
| Capital Contributions                                       |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | 268                                                  |       |                             |       |            |       |                        |       | 268                         |       |
| Earnings Charge for options expense (Note 5)                |       |                                     |       |                                  |       |                             |       |                  |       |                    |       | 36,359                                               |       |                             |       |            |       |                        |       | 36,359                      |       |
| Net Loss for period                                         |       |                                     |       |                                  |       |                             |       |                  |       |                    |       |                                                 |       |                             |       |            |       | (817,684                    | )          | (817,684                    | )          |
| **Balance  at March 31,2007**                               | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | 5,575,772                                            |       |                             |       |            |       | (6,658,195                  | )          | (1,082,423                  | )          |
| Capital contributions cash                                  | ** ** | ** **                               | ** ** | ** **                            | ** ** | ** **                       | ** ** | ** **            | ** ** | ** **              |       | 269                                                  |       |                             |       |            |       |                        |       | 269                         |       |
| Shares Issued to PRO Transferors (Note 5)                   |       | 55,000,000                               |       |                                  |       |                             |       | 55,000                |       |                    |       | (55,000                                              | )          |                             |       |            |       |                        |       |                        |       |
| Preferred Equity raised (Note 5)                            |       |                                     |       | 5,000,000                             |       |                             |       |                  |       | 4,500                   |       | 4,495,500                                            |       |                             |       |            |       |                        |       | 4,500,000                   |       |
| Warrants Issued  to Investa/Pineda (Note 5)                 |       |                                     |       |                                  |       | 2,500,000                        |       |                  |       |                    |       |                                                 |       |                             |       |            |       |                        |       |                        |       |
| Earnings charge for options expense (Note 6)                |       |                                     |       |                                  |       |                             | ** ** | ** **            |       |                    |       | 45,053                                               |       |                             |       |            |       |                        |       | 45,053                      |       |
| Preferred dividends payable (Note 5)                        |       |                                     |       |                                  |       |                             |       |                  |       |                    |       |                                                 |       | (93,700                          | )          |            |       |                        |       | (93,700                     | )          |
| Net Loss for Period                                         |       |                                     |       |                                  |       |                             |       |                  |       |                    |       |                                                 |       |                             |       |            |       | (1,241,238                  | )          | (1,241,238                  | )          |
| Equity of PRO  Inc. at 3/31/2007                            |       | 42,500,000                               |       |                                  |       |                             |       | 42,500                |       |                    |       | 435,097                                              |       |                             |       |            |       |                        |       | 477,597                     |       |
| Change in PRO Inc. Equity 3/31-4/18/2007 (Note 5)           |       | (22,500,000                              | )          |                                  |       |                             |       | (22,500               | )          |                    |       | 44,904                                               |       |                             |       |            |       |                        |       | 22,404                      |       |
| Equity of PRO Inc. time of contribution agreement  (Note 1) |       | 20,000,000                               |       |                                  |       |                             |       | 20,000                |       |                    |       | 480,001                                              |       |                             |       |            |       |                        |       | 500,001                     |       |
| **Balance at June 30,2007**                                 | ** ** | **75,000,000**                           | ** ** | **5,000,000**                         | ** ** | **2,500,000**                    | ** ** | **75,000**            | ** ** | **4,500**               | ** ** | **10,541,595**                                       | ** ** | **(93,700**                      | **)**      | ** **      | ** ** | **(7,899,433**              | **)**      | **2,627,962**               | ** ** |

 

*The accompanying notes are an integral part of these financialstatements.*

5

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**PlatinumResearch Organization, Inc.**

**(ADevelopment Stage Company)**

Notesto Financial Statements

June 30, 2007

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**1.****                          Natureand Continuance of Operations**

The Company was incorporatedin the State of Nevada on May 13, 2005, under the name “NorthTech Corporation.”The Company was originally formed to develop, expand and market two web-baseddatabase programs for small business and community sports.  The Company completed its initial publicoffering in March 2006, and subsequently abandoned its software developmentbusiness.  On April 13, 2007, the Companycompleted a merger with its wholly-owned subsidiary Platinum ResearchOrganization, Inc. to reincorporate the Company in Delaware, and the name ofthe surviving Company became “Platinum Research Organization, Inc.”  We acquired Platinum Research Organization,L.P., a Texas limited partnership (“Platinum LP”), pursuant to a ContributionAgreement we entered into on October 26, 2006, and Platinum LP became awholly-owned subsidiary of the Company effective April 18, 2007 (Note 7).  The Company no longer pursues softwaredevelopment, and the sole focus of our business is the development, manufactureand marketing of high-performance lubricants and coatings products.

OnOctober 11, 2006 the Company incorporated a wholly-owned subsidiary PlatinumResearch Organization, Inc. (“Platinum Subsidiary”) in the state ofNevada.  Effective October 31, 2006, theCompany merged with Platinum Subsidiary for the purpose of effecting a changeof the Company’s name to “Platinum Research Organization, Inc.” and arecapitalization of the Company’s capital stock. Pursuant to an agreement andplan of merger dated October 18, 2006 (the “Merger”), each outstanding share ofthe Company was exchanged for and became five shares of Platinum Subsidiarycommon stock on the effective date of the Merger. Platinum Subsidiary assumedthe outstanding warrants of the Company, which were exercisable for shares ofPlatinum Subsidiary common stock. Each such warrant was exercisable for fiveshares of Platinum Subsidiary common stock at the same price as one commonshare of the Company.

Weacquired Platinum LP effective April 18, 2007. The transaction has been accounted for as a reverse acquisitionapplication of the purchase method of accounting by the Company (formerly knownas NorthTech), with Platinum LP treated as the accounting acquirer.  Accordingly, the assets and liabilities ofthe Company (formerly known as NorthTech) will be recorded at their respectivehistorical costs, and added to those of Platinum LP, and the reported resultsof operations of the Company will reflect historical results of operations ofPlatinum LP.

On April 18, 2007, we closedthe Contribution Agreement, which resulted in our acquisition of Platinum LPand the appointment of a new slate of directors.  As a result of our acquisition of PlatinumLP, the Company’s new business focus is the design, development andcommercialization of patented high-performance lubricants and coatings.  The Company’s products will be marketed underthe trade name TechroBondTM for automotive, aviation, industrial and consumeraftermarkets.   TechroBondTM is oneof a series of product applications Platinum LP developed based on its patentedprocesses and technologies relating to a fluorinated thiophosphate and a newtechnique to react zinc dialkyl dithiophosphate (“ZDDP”) and poly tetrafluroethylene to yield new proprietary compounds that enhance the anti-wear andanti-corrosion capabilities of lubricants and coatings (individually andcollectively, the “PRO Technology”). The resulting compounds have yieldedsignificantly enhanced anti-wear and anti-corrosion capabilities when measuredin bench laboratory tests at the University of Texas at Arlington, and, moreimportantly, suggest that the PRO Technology may be a replacement for ZDDP inengine and lubricating oils. Management believes that this new technology willposition the Company to penetrate several large, global markets for lubricantsshould the Company be successful in bringing its products that rely upon thisnew technology to market.

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The Company is a developmentstage enterprise, as defined in Statements of Financial Accounting Standards (“SFAS”)No. 7.  The Company is currently devotingall of its present efforts to commercialization of its products andtechnologies.  Accordingly, no revenuehas been realized to date.

The Company’s financial statements as at June 30, 2007and for the three- and six-month periods then ended have been prepared on agoing concern basis, which contemplates the realization of assets and thesettlement of liabilities and commitments in the normal course ofbusiness.  The Company incurred a loss of$2,058,922 for the six-month period ended June 30, 2007 and had cash of$5,083,044 at June 30, 2007.

Management cannot provide assurance that the Companywill ultimately achieve profitable operations or become cash flow positive, orraise additional debt and/or equity capital. Management believes that the Company’s capital resources should beadequate to continue operating and maintaining its business strategy for thenext twelve months.  However, if theCompany is unable to realize revenue from the commercialization of its productsor is unable to raise additional capital in the future, management expects thatthe Company will need to seek additional capital on less favorable terms and/orpursue other remedial measures.  Thesefinancial statements do not include any adjustments related to therecoverability and classification of assets or the amounts and classificationof liabilities that might be necessary should the Company be unable to continueas a going concern.

**2.****                          SignificantAccounting Policies**

The following is a summary of significant accountingpolicies used in the preparation of these financial statements.

**Basis of presentation**

Theaccompanying unaudited interim financial statements have been prepared as ofJune 30, 2007, and for the three- and six-month periods ended June 30, 2007 and2006 in accordance with accounting principles generally accepted in the UnitedStates of America (“GAAP”) relating to the preparation of financial statementsfor interim periods.  Accordingly, theydo not include all the information and footnotes required by generally acceptedaccounting principles for complete financial statements.  In the opinion of management, all adjustments(consisting of normal recurring accruals) considered necessary for a fair presentationhave been included.  Operating resultsfor the three- and six-month periods ended June 30, 2007 are not necessarilyindicative of the results that may be expected for the year ending December 31,2007.

Theseinterim financial statements follow the same accounting policies and methods oftheir application as the most recent annual financial statements.  These interim financial statements should beread in conjunction with the audited financial statements of the Company as atDecember 31, 2006, as contained in the Company’s Form 10-KSB filed with theSecurities and Exchange Commission on March 23, 2007.

**Cash and cash equivalents**

Cash and cash equivalents include highly liquidinvestments with original maturities of three months or less.

**Financial instruments**

The carrying value of cash, loans receivable, accountspayable and accrued liabilities, amounts due to related parties and convertiblepromissory notes payable approximates their fair value because of the shortmaturity of these instruments.  Prior toApril 2007, the Company’s operations were located in Canada, and virtually allof its assets and liabilities gave rise to significant exposure to market risksfrom changes in foreign currency 

7

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rates.  TheCompany’s financial risk is the risk that arises from fluctuations in foreignexchange rates and the degree of volatility of these rates.  Currently, the Company does not usederivative instruments to reduce its exposure to foreign currency risk.

**Derivative financial instruments**

The Company has not, to the date of these financialstatements, entered into derivative instruments to offset the impact of foreigncurrency fluctuations.

**Income taxes**

Deferred income taxes are reported for timingdifferences between items of income or expense reported in the financialstatements and those reported for income tax purposes in accordance with SFASNo. 109, *Accounting for Income Taxes*, whichrequires the use of the asset/liability method of accounting for incometaxes.  Deferred income taxes and taxbenefits are recognized for the future tax consequences attributable todifferences between the financial statement carrying amounts of existing assetsand liabilities and their respective tax bases, and for tax loss and creditcarry-forwards.  Deferred tax assets andliabilities are measured using enacted tax rates expected to apply to taxableincome in the years in which those temporary differences are expected to berecovered or settled.  The Companyprovides for deferred taxes for the estimated future tax effects attributableto temporary differences and carry-forwards when realization is more likelythan not.  As of June 30, 2007 and June30, 2006, the net deferred tax asset has been offset by a valuation allowance.

**Basic and diluted net loss per share**

The Company computes net loss per share in accordancewith SFAS No. 128, *Earnings per Share*.  SFAS No. 128 requires presentation of bothbasic and diluted earnings per share (“EPS”) on the face of the incomestatement.  Basic EPS is computed bydividing net loss available to common shareholders (numerator) by the weightedaverage number of shares outstanding (denominator) during the period.  Diluted EPS gives effect to all potentiallydilutive common shares outstanding during the period using the treasury stockmethod and convertible preferred stock using the if-converted method.  In computing diluted EPS, the average stockprice for the period is used in determining the number of shares assumed to bepurchased from the exercise of stock options or warrants.  Diluted EPS excludes all potentially dilutiveshares if their effect is anti-dilutive.

**Comprehensive loss**

SFAS No. 130, *ReportingComprehensive Income*, establishes standards for the reporting anddisplay of comprehensive loss and its components in the financialstatements.  As of June 30, 2007, theCompany had no items that represented a comprehensive loss and, therefore, hasnot included a schedule of comprehensive loss in the financial statements.

**Segments of an enterprise and related information**

SFAS No. 131, *Disclosures about Segmentsof an Enterprise and Related Information*, supersedes SFAS No. 14, *Financial Reporting for Segments of a Business Enterprise*.  SFAS 131 establishes standards for the waythat public companies report information about operating segments in annualfinancial statements and requires reporting of selected information aboutoperating segments in interim financial statements issued to the public.  It also establishes standards for disclosuresregarding products and services, geographic areas and major customers.  SFAS 131 defines operating segments ascomponents of a company about which separate financial information is availablethat is evaluated regularly by the chief operating decision maker in decidinghow to allocate resources and in assessing performance.  The Company has evaluated this SFAS and doesnot believe it is applicable at this time.

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**Start-up expenses**

The Company has adopted Statement of Position No.98-5, “*Reporting the Costs of Start-up Activities*”,which requires that costs associated with start-up activities be expensed asincurred.  Accordingly, start-up costs associated with the Company’sformation have been included in the Company’s expenses for the period from thedate of incorporation on May 13, 2005 to June 30, 2007.

**Foreign currency translation**

The Company’s functional and reporting currency is inU.S. dollars.  The financial statementsof the Company are translated to U.S. dollars in accordance with SFAS No. 52, *Foreign Currency Translation*.  Monetary assets and liabilities denominatedin foreign currencies are translated using the exchange rate prevailing at thebalance sheet date.  Gains and lossesarising on translation or settlement of foreign currency denominatedtransactions or balances are included in the determination of income.  The Company has not, to the date of thesefinancial statements, entered into derivative instruments to offset the impactof foreign currency fluctuations.

**Use ofestimates**

The preparation of financial statements in conformitywith GAAP requires management to make estimates and assumptions that affect theamounts of assets and liabilities and disclosures of contingent assets andliabilities at the date of the financial statements and the reported amounts ofrevenues and expenditures during the reporting period.  Actual results could differ from theseestimates.

**Recent accounting pronouncements**

InFebruary 2007, the Financial Accounting Standards Board (the “FASB”) issuedSFAS No. 159, “The Fair Value Option for Financial Assets and FinancialLiabilities” (“SFAS 159”).  SFAS 159 allowsthe Company to choose to measure many financial assets and financialliabilities at fair value.  Unrealizedgains and losses on items for which the fair value option has been elected arereported in earnings.  SFAS 159 iseffective for fiscal years beginning after November 15, 2007.  The Company is currently evaluating therequirements of SFAS 159 and the potential impact on the Company’s financialstatements.

InSeptember 2006, the FASB issued SFAS No. 157, “Fair Value Measurement” (“SFAS157”). The Statement provides guidance for using fair value to measure assetsand liabilities. The Statement also expands disclosures about the extent towhich companies measure assets and liabilities at fair value, the informationused to measure fair value, and the effect of fair value measurement onearnings. This Statement applies under other accounting pronouncements thatrequire or permit fair value measurements. This Statement does not expand theuse of fair value measurements in any new circumstances. Under this Statement,fair value refers to the price that would be received to sell an asset or paidto transfer a liability in an orderly transaction between market participantsin the market in which the entity transacts. SFAS 157 is effective for theCompany for fair value measurements and disclosures made by the Company in itsfiscal year beginning on January 1, 2008. The Company is currently reviewingthe impact of this statement.

In February 2006, the FASB issued SFAS No. 155, “*Accounting for Certain Hybrid Financial Instruments*”, whichamends SFAS No. 133, “*Accounting for DerivativeInstruments and Hedging Activities*” and SFAS No. 140.  SFAS No. 155 permits fair valuemeasurement for any hybrid financial instrument that contains an embeddedderivative that otherwise would require bifurcation, establishes a requirementto evaluate interests in securitized financial assets to identify intereststhat are freestanding derivatives or hybrid financial instruments containingembedded derivatives.  The adoption ofSFAS No. 155 is not expected to have a material impact on the Company’sfinancial position, results of operations or cash flows.

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In July 2006, the FASB issued FASB interpretation No.48, “*Accounting for Uncertainty in Income Taxes, anInterpretation of FASB Statement No. 109*” (“FIN 48”).  FIN 48 provides guidance on the financialstatement recognition and measurement of a tax position taken or expected to betaken in a tax return.  FIN 48 requiresthat we recognize in the financial statements the impact of a tax position ifthat position more likely than not will be sustained on an audit, based on thetechnical merits of the position.  FIN 48also provides guidance on derecognition, classification, interest and penalties,accounting in interim periods, disclosures and transition provisions.  The transition adjustment recognized on thedate of adoption is recorded as an adjustment to retained earnings as of thebeginning of the adoption period. Management is currently evaluating FIN 48.

**Comparative figures**

Certain comparative figures have been adjusted toconform to the current period’s presentation.

**3.****                          Accounts Payable and Accrued Liabilities**

Accounts payable and accrued liabilities arenon-interest bearing, unsecured and have settlement dates within one year.

**4.****                          LongTerm Debt**

As of June 30, 2007, theCompany had $6,000,000 in long term debt due under a note with the Seattle CityEmployee’s Retirement System (“SCERS”). The principal amount outstanding under this note bears interest at afixed rate equal to 14% per annum, which will increase to 19% per annumfollowing any event of default under the note. Accrued interest on the outstanding principal is payable on a quarterlybasis, and all outstanding principal and interest is due and payable onFebruary 28, 2011.  As additionalconsideration for making the loan, SCERS will receive quarterly participationpayments at the end of each fiscal quarter that are equal to the greater of (i)5% of the Company’s gross revenues on a consolidated basis, or (ii) 20% of the Company’sconsolidated net income, for such quarter. The participation payments will continue until SCERS is paid all of theprincipal and accrued interest under the note, plus an aggregate $6.0 millionin participation payments.  SCERS hasreceived no participation payments through the quarter ended June 30,2007.  The note is secured by all of theassets of the Company.

**5.****                          CapitalStock**

**Authorized**

As of June 30, 2007, the Company’s total authorizedcapital was 400,000,000 common shares, with a par value of $0.001 per commonshare, and 100,000,000 preferred shares, with a par value of $0.001 perpreferred share.

In contemplation of the completion of the ContributionAgreement (see Note 7), a total of 5,000,000 authorized preferred shares weredesignated as Series “A” Preferred Stock (the “Series A Preferred Stock”),which are convertible into common shares of the Company at a rate of fivecommon shares for each share of Series A Preferred Stock at any time by theholder or by the Company under certain conditions.  The Series A Preferred Stock is also subjectto mandatory conversion on the last day of any period of twenty consecutivetrading days ending on or after the sale of the underlying shares of commonstock are registered with the Securities and Exchange Commission in which thevolume weighted average of the daily market price of the Company’s common stockequals or exceeds 200% of the adjusted conversion price of the Series APreferred Stock.

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The terms of the Series A Preferred Stock entitle theholder to annual cumulative dividends of $0.09 per share, payable quarterly atthe discretion of the Company’s Board of Directors.  The annual cumulative dividend will bereduced to $0.045 per share upon the Company entering into a commercialagreement(s) that increases the Company’s aggregate revenues to $40,000,000 perannum and to an annual $0.018 per share upon the Company recording net revenuesequal to or greater than $1,000,000 per quarter.

The Series A Preferred Stock has a maturity date offive years from the date of closing of the Contribution Agreement (see Note7).

**Issued and outstanding**

Under the terms of the Contribution Agreement (Note7), on April 18, 2007, the Company:

a)              issued to the ProTransferors 55,000,000 unregistered shares of Company common stock;

b)             issued to theInvestors 5,000,000 shares of Series A Preferred Stock;

c)              issue to InvestaCorporation and Ms. Pineda 2,500,000 warrants to purchase shares of commonstock at a price of $0.26 per share; and

d)             cancelled 22,500,000shares of Company common stock held by Ms. Pineda.

As of June 30, 2007, the Company’s total issued andoutstanding capital stock consisted of 75,000,000 common shares, 5,000,000shares of Series A Preferred Stock and warrants to acquire 2,500,000 commonshares.

On February 8, 2007, the Company issued 10,000,000common shares valued at a price of $0.05 per share upon the exercise ofpreviously outstanding share purchase warrants. As of June 30, 2007, no share purchase warrants in this series wereoutstanding.

On October 11, 2006 theCompany incorporated Platinum Subsidiary in the state of Nevada.  Effective October 31, 2006, the Companymerged with Platinum Subsidiary for the purpose of effecting a change of nameto “Platinum Research Organization, Inc.” and a recapitalization of the Company’scapital stock. Pursuant to the Merger, each outstanding share of common stockof the Company was exchanged for and became five shares of Platinum Subsidiarycommon stock on the effective date of the Merger.  For accounting purposes, the Merger wasaccounted for as a recapitalization.

On March 30, 2006, 10,000,000 Units (the “Units”) ofthe Company were issued for cash proceeds of $100,000. Each Unit consists ofone common share of the Company and one fifth of one purchase warrantshare.  Each full purchase warrant shareentitles the holder to purchase an additional five common shares of the Companyat a price of $0.25 per common share expiring March 30, 2009.

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**Warrants**

The following is a summary of warrant activitiesduring the six-month period ended June 30, 2007:
|                                                   | ** ** | **Number of   warrants** | ** ** | **Weighted   average   exercise price** | ** ** |
|---------------------------------------------------|------------|------------------------------------|------------|--------------------------------------------------------|------------|
| ** **                                        | ** ** | ** **                         | ** ** | ** **                                             | ** ** |
| Outstanding and  exercisable at December 31, 2006 |       | 2,000,000                          |       | $                                                      | 0.25       |   |
|                                              |       |                               |       |                                                   |       |
| Exercised                                         |       | (2,000,000                         | )          | $                                                      | 0.25       |   |
|                                              |       |                               |       |                                                   |       |
| Outstanding and  exercisable at March 31, 2007    |       | —                             |       | —                                                 |       |
|                                              |       |                               |       |                                                   |       |
| Granted                                           |       | 2,500,000                          |       | $                                                      | 0.26       |   |
|                                              |       |                               |       |                                                   |       |
| Outstanding and  exercisable at June 30, 2007     |       | 2,500,000                          |       | $                                                      | 0.26       |   |

 

**6.****                          Equity**

Effective January 1, 2006, the Company adopted SFASNo. 123R “Share Based Payment” under the modified prospective method describedtherein.  Compensation expense recognizedin the three- and six-month periods ended June 30, 2006 and 2007 includescompensation expense for all stock-based payments granted, modified or vestedsince adoption of SFAS No. 123R based on the grant date fair value.  Stock-based compensation expense recognizedin the three- and six-month periods ended June 30, 2007 was included inSelling, General and Administrative Expenses and totaled $45,053 and $81,412,respectively.  No stock-basedcompensation was recognized in the three- and six-month periods ended June 30,2006.

Prior to the consummationof the transactions contemplated by the Contribution Agreement (see Note 7),Platinum LP had issued to key executive officers and consultants, options toacquire up to 18.685% of limited partner partnership interests in PlatinumLP.  Following the completion of thetransactions contemplated in the Contribution Agreement (see Note 7), theCompany issued options to acquire 23,292,184 shares of common stock to holdersof the Platinum LP options, in substitution for, and following the cancellationof, the Platinum LP options.  Thesubstitution of the Company options for the Platinum LP options complied withSections 409A and 424 of the Internal Revenue Code of 1986, as amended, and theTreasury Regulations proposed and issued thereunder.  Accordingly, and in addition to thesatisfaction of other requirements under these provisions, the ratio of the exerciseprice to the fair market value of the shares subject to the Company optionsissued in substitution of the Platinum LP options immediately following theconsummation of the transactions contemplated by the Contribution Agreement wasnot greater than the ratio of the exercise price to the fair market value ofthe canceled Platinum LP options immediately prior to the transaction.  Additionally, the excess of the fair marketvalue of the Company options issued in substitution of the Platinum LP optionsover their respective strike prices did not exceed the fair market value of thePlatinum options over their respective strike prices.  The fair market value of the Platinum LPoptions was established by an independent appraisal completed in August 2007.

**7.****                          ContributionAgreement**

On October 26, 2006, the Company entered into acontribution agreement (the “Contribution Agreement”) with Platinum LP,Lubrication Partners, joint venture (“GP Transferor”) and sole shareholder ofPlatinum IP Management, Inc., the general partner of Platinum LP (“PRO GP”),each holding a limited partnership interest in Platinum LP (each, a “LimitedPartner” and collectively, the “PRO Transferors”) and John T. (Cork) Jaeger asthe representative of all PRO Transferors (the “PRO Transferor Representative”),and Steve Drayton as the representative (the “Investor Representative”) of allcertain individuals who invested in the 

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Company (other than the PRO Transferors) (the “Investors”)in a private placement completed in conjunction with the ContributionAgreement.

Under the terms of the Contribution Agreement, GPTransferor contributed to the Company all of the capital stock of PRO GP, eachLimited Partner contributed to the Company all of the outstanding limitedpartner partnership interests of Platinum LP, and the Investors contributed tothe Company an aggregate minimum cash amount of $4,500,000.

In consideration the Company completed the following:

a)              Issuedto the PRO Transferors 55,000,000 unregistered shares of common stock of theCompany;

b)             Issued to theInvestors 5,000,000 shares Series A Preferred Stock and 2,500,000 sharepurchase warrants (the “Warrants”). The Warrants will be issued to theInvestors on the closing date.  EachWarrant is to be exercisable for one common share of the Company at an exerciseprice of $0.26 per share for a three-year period from date of closing; and

c)              Entered into a bridge loan agreement(the “Loan Agreement”) with Platinum LP, pursuant to which the Company loanedPlatinum LP $1,000,000 (the “Platinum LP Note”). The Platinum LP Note boreregular interest at an annual rate of 10% per annum, was due and payable sixmonths from the date of issuance, and was secured by a second lien on all ofthe assets of Platinum LP. On January 17, 2007, the Company advanced $1,000,000to Platinum LP under the terms of the Loan Agreement.  The Loan Agreement was satisfied on the April18, 2007 closing date upon the conversion of the promissory note evidencing theloan into shares of Series A Preferred Stock.

During the period, the Company entered into anamending agreement whereby the Company will assume certain general securityobligations upon closing of the Contribution Agreement.

At the Company’s Special Meeting held on April 12,2007, stockholders approved the completion of the proposed ContributionAgreement transaction with Platinum Research Organization, L.P. et al.  The closing of the Contribution Agreementtransaction became effective April 18, 2007.

**8.****                         ****Commitments**

On June 20, 2007, the Company signed a five-year leasefor new office space at a rate of approximately $60,000 per year, effectiveAugust 15, 2007 (see Note 9).  The Company had previously leased officespace from EFO Holdings, a related party to Lubrication Partners, L.P. andLubrication Joint Venture, our two largest stockholders.

**9.****                          SubsequentEvents**

On July 3, 2007, the Company entered into a one year,$60,000 standby letter of credit agreement with Crescent Real Estate FundingVIII LP as a condition of an office lease, also with Crescent Real EstateFunding VIII LP, entered into on June 20, 2007.

On August 3, 2007, the independent members of theCompany’s Board of Directors met and approved a proposal to cancel all of theoutstanding employee stock options held by the Company’s Chief FinancialOfficer, Michael D. Newman, which were granted on April 18, 2007 at an exerciseprice of $1.35, and reissue 3,116,428 options at an exercise price of $0.78,which was the closing per share market price of the common stock on August 3,2007.

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**10.****                   EarningsPer Share**

Basic earnings pershare are computed by dividing net earnings less dividends on Series APreferred Stock by the weighted average number of common shares outstandingduring the period. Diluted earnings per share are computed similarly to basicearnings per share, except the denominator is increased by including the numberof additional common shares that would have been outstanding if dilutivepotential common shares had been issued. This calculation is not done forperiods in a loss position as this would be antidilutive.
|                                              | ** ** | **Three Months Ended** | ** ** | **Six Months Ended** | ** ** | **For the  Period from  Date of** | ** ** |
|----------------------------------------------|------------|----------------------------------|------------|--------------------------------|------------|--------------------------------------------------|------------|
| ** **                                   | ** ** | **June 30,  2007**          | ** ** | **June 30,  2006**        | ** ** | **June 30,  2007**                          | ** ** | **June 30,  2006** | ** ** | **Inception to  6/30/07** | ** ** |
| **Numerator**                                |       |                             |       |                           |       |                                             |       |   |   |   |   |
| Net Income (Loss)                            |       | (1,241,238                       | )          | (541,786                       | )          | (2,058,922                                       | )          | (1,054,976 | ) | (7,899,433 | ) |
| Dividends Declared on Preferred Stock        |       | (93,699                          | )          | —                         |       | (93,699                                          | )          | — |   | — |   |
| Net Loss Attributable to Common Shareholders |       | (1,334,937                       | )          | (541,786                       | )          | (2,152,621                                       | )          | (1,054,976 | ) | (7,899,433 | ) |
|                                         |       |                             |       |                           |       |                                             |       |   |   |   |   |
| **Denominator**                              |       |                             |       |                           |       |                                             |       |   |   |   |   |
| Basic Weighted Average Shares Outstanding    |       | 68,571,429                       |       | 22,609,890                     |       | 55,483,425                                       |       | 27,582,873 |   | 29,721,503 |   |
|                                         |       |                             |       |                           |       |                                             |       |   |   |   |   |
| **Basic Earnings per Share**                 |       | (0.02                            | )          | (0.02                          | )          | (0.04                                            | )          | (0.04 | ) | (0.27 | ) |

 

**11.****                   Debt Forgiveness**

In April 2004, $5,536,597 of debt owed by Platinum LP to Lubrication PartnersJV was forgiven in exchange for 100% equity interest in Platinum LP.

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

All statements other than statements of historical facts contained inthis report, including statements regarding our future financial position,business strategy, budgets, projected costs and plans and objectives ofmanagement for future operations, are considered to be forward-lookingstatements. We express our expectations, beliefs and projections in good faithand believe our expectations reflected in these forward-looking statements arebased on reasonable assumptions; however, we cannot assure you that theseexpectations, beliefs or projections will prove to have been correct.

Readers are referred to the caption “Risk Factors” appearing at the endof Item 1 of our latest Annual Report on Form 10-KSB for additionalfactors that may affect our forward-looking statements. In light of theserisks, uncertainties and assumptions, the forward-looking events discussed inthis report might not occur. We undertake no obligation to update or revise ourforward-looking statements, whether as a result of new information, futureevents or otherwise.

**Overview**

The Company was incorporated in the State of Nevada on May 13, 2005, underthe name “NorthTech Corporation.” The Company was originally formed to develop,expand and market two web-based database programs for small business andcommunity sports.  The Company completedits initial public offering in March 2006, and subsequently abandoned itssoftware development business.  On April13, 2007, the Company completed a merger with its wholly-owned subsidiaryPlatinum Research Organization, Inc. to reincorporate the Company in Delaware,and the name of the surviving Company became “Platinum Research Organization,Inc.”  We acquired Platinum LP, pursuantto a Contribution Agreement we entered into on October 26, 2006, and it becamea wholly-owned subsidiary of the Company effective April 18, 2007.  The Company no longer pursues softwaredevelopment, and the sole focus of our business is the development, manufactureand marketing of high-performance lubricants and coatings products.

On April 18, 2007, we closed the Contribution Agreement, which resultedin our acquisition of Platinum LP and the appointment of a new slate ofdirectors.  As a result of ouracquisition of Platinum LP, the Company’s new business focus is the design,development and commercialization of patented high-performance lubricants andcoatings.  The Company’s products will bemarketed under the trade name TechroBondTM for automotive, aviation, industrialand consumer aftermarkets.   TechroBondTM is oneof a series of product applications Platinum LP developed based on its patentedprocesses and technologies relating to a fluorinated thiophosphate and a newtechnique to react zinc dialkyl dithiophosphate (“ZDDP”) and poly tetrafluroethylene to yield new proprietary compounds that enhance the anti-wear andanti-corrosion capabilities of lubricants and coatings (individually andcollectively, the “PRO Technology”). The resulting compounds have yieldedsignificantly enhanced anti-wear and anti-corrosion capabilities when measuredin bench laboratory tests at the University of Texas at Arlington, and, moreimportantly, suggest that the PRO Technology may be a replacement for ZDDP inengine and lubricating oils. Management believes that this new technology willposition the Company to penetrate several large, global markets for lubricantsshould the Company be successful in bringing its products that rely upon thisnew technology to market.

The Company’s intellectual property, including its patents, licenses andtrademarks, is an important component of its business.  The Company actively protects its inventions,new technologies and product developments by filing patent applications ormaintaining trade secrets.  The Company’sresearch and development efforts have resulted in proprietary formulations andprocesses protected by four U.S. patents, five U.S. patent applications, threecontinuation-in-part applications and several trade secrets.  The Company has filed these patents or patentapplications in key jurisdictions in the international market, and the U.S.patent applications are protected under PCT filings.  These proprietary formulations and processesuse specific chemical compounds that can act as a catalyst, a reactant or bothto provide surface and substrate modification in both liquid and solidlubricants to wear surfaces such as iron, steel and aluminum.

TheCompany intends to develop three primary product lines within the lubricantadditive industry, including greases, industrial oils and engine oils, as wellas to develop specialty coatings. A more detailed 

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description of the newbusiness of the Company, associated risk factors, and historical financialstatements of Platinum LP are in the Definitive Schedule 14A Proxy Statementfiled with the SEC on April 2, 2007.

**Resultsof Operations**

***Three MonthsEnded June 30, 2007 Compared to Three Months Ended June 30, 2006.***

*NetSales and Gross Profit.*  Net sales and gross profit forboth the three-month period ended June 30, 2007 and the three-month periodended June 30, 2006 was $0.  The Companyis a development stage company and continues to focus its efforts on the marketingand commercialization of the Company’s products and technologies, theregistration of its products with the Environmental Protection Agency (the “EPA”),in Europe, Japan and the Far East and on further developing its relationshipswith key business partners in the Engine Oil, Grease, Industrial Oil andCoatings markets.

*Selling,General and Administrative Expenses. *TheCompany’s total SG&A expenses for the three-month period ended June 30,2007 were $943,508, an increase of $698,057 over total SG&A expenses of$245,451 for the three-month period ended June 30, 2006. Total SG&Aexpenses are composed of outside legal and professional fees, salaries,insurance costs, product evaluation and technical support and other SG&Aexpenses.

TheCompany’s outside legal and professional fees for the three-month period endedJune 30, 2007 were $395,494, an increase of $322,749 over outside legal andprofessional fees of $72,745 for the three-month period ended June 30,2006.  This increase was due to legal andprofessional costs incurred in connection with the Company’s issuance of theSeries A Convertible Preferred Stock and the issuance of warrants to acquire2,500,000 shares of common stock; increased public company compliance costs;recruitment costs associated with hiring a new Chief Financial Officer; andincreased product and technology consultancy costs.

TheCompany incurred $200,317 in costs related to the Contribution Agreement forthe three-month period ended June 30, 2007. No such costs were incurred during the same period in 2006.  These costs consisted of outside legal,accounting and audit work related to the Contribution Agreement and relatedtransactions.

TheCompany’s salaries expense for the three-month period ended June 30, 2007 was$152,754, an increase of $79,622 over salaries expense of $73,132 for thethree-month period ended June 30, 2006. This increase was primarily due to non-cash expenses incurred relatingto the expensing of stock options pursuant to SFAS 123R, the addition of a newChief Financial Officer following consummation of the Contribution Agreementand the execution of a new employment contract for the Company’s ChiefExecutive Officer.

TheCompany’s insurance costs for the three-month period ended June 30, 2007 were$61,438, an increase of $44,743 over insurance costs of $16,695 for thethree-month period ended June 30, 2006. This increase was principally due to the purchase of a new Directors andOfficers Liability Policy.

Productevaluation and technical support expenses for the three-month period ended June30, 2007 were $56,558, an increase of $25,183 over product evaluation andtechnical support expenses of $31,375 for the three-month period ended June 30,2006.  This increase was due to anincrease in scope of the testing and research efforts conducted at theUniversity of Texas - Arlington related to the Company’s products andtechnologies.

OtherSG&A expenses for the three-month period ended June 30, 2007 were $22,560,an increase of $12,675 over other SG&A expenses of $9,885 for thethree-month period ended June 30, 2006. This increase was due mainly to increased office support costs.

*Depreciationand Amortization. *Depreciationfor the three-month period ended June 30, 2007 was $122,880, an increase of$1,052 over depreciation of $121,828 for the three-month period ended June 30,2006 and relates principally to the amortization of loan issuance costs fordebt with the City of Seattle.

*InterestExpense. *Interestexpense for the three-month period ended June 30, 2007 was $234,794, anincrease of $24,794 over interest expense of $210,000 for the three-monthperiod ended June 30, 2006, due to additional interest on $1,000,000 inconvertible promissory notes.

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*OtherIncome*.  Other incomefor the three-month period ended June 30, 2007 was $59,544, an increase of$24,451 over other income of $35,493 for the three-month period ended June 30,2006.  This increase was due primarily tointerest income from increased cash on hand as a result of equity raisedthrough the Company’s issuance of the Series A Preferred Stock and the issuanceof warrants to acquire 2,500,000 shares of common stock April 2007.

***SixMonths Ended June 30, 2007 Compared to Six Months Ended June 30, 2006***

*Net Salesand Gross Profit. *Netsales and gross profit for both the six-month period ending June 30, 2007 andthe six-month period ending June 30, 2006 was $0.  The Company continues to focus its efforts onthe marketing and commercialization of the Company’s products and technologies,the registration of its products with the EPA, in Europe, Japan and the FarEast and efforts to further develop its relationships with key businesspartners in the Engine Oil, Grease, Industrial Oil and Coatings markets.

*Selling,General and Administrative Expenses. *TheCompany’s total SG&A expenses for the six-month period ended June 30, 2007were $1,456,803, an increase of $993,474 over total SG&A expenses of$463,329 for the six-month period ended June 30, 2006. Total SG&A expensesare composed of outside legal and professional fees, salaries, insurance costs,product evaluation and technical support and other SG&A expenses.

TheCompany’s outside legal and professional fees for the six-month period endedJune 30, 2007 were  $526,121, an increaseof $381,826 over outside legal and professional fees of $144,295 for thesix-month period ended June 30, 2006. This increase was due to legal and professional costs incurred inconnection with the Company’s issuance of the Series A Convertible PreferredStock and the issuance of warrants to acquire 2,500,000 shares of common stock;increased public company compliance costs; recruitment costs associated withhiring a new Chief Financial Officer; and increased product and technologyconsultancy costs.

TheCompany incurred $339,783 in costs related to the Contribution Agreement forthe six-month period ended June 30, 2007. No such costs were incurred during the same period in 2006.  These costs consisted of outside legal,accounting and audit work related to the Contribution Agreement and related transactions.

TheCompany’s salaries expense for the six-month period ended June 30, 2007 was$275,044, an increase of $129,491 over salaries expense of $145,553 for thesix-month period ended June 30, 2006. This increase was primarily due to non-cash expenses incurred relatingto the expensing of stock options pursuant to SFAS 123R, the addition of a newChief Financial Officer following consummation of the Contribution Agreementand the execution of a new employment contract for the Company’s Chief ExecutiveOfficer.

TheCompany’s insurance costs for the six-month period ended June 30, 2007 were$78,036, an increase of $52,441 over insurance costs of $25,595 for thesix-month period ended June 30, 2006. This increase was principally due to the purchase of a new Directors andOfficers Liability Policy.

Productevaluation and technical support expenses for the six-month period ended June30, 2007 were $108,976, an increase of $36,226 over product evaluation andtechnical support expenses of $72,750 for the six-month period ended June 30,2006.  This increase was due to anincrease in scope of the testing and research efforts conducted at theUniversity of Texas - Arlington related to the Company’s products andtechnologies.

OtherSG&A expenses for the six-month period ended June 30, 2007 were $36,320, anincrease of $22,627 over other SG&A expenses of $13,693 for the six-monthperiod ended June 30, 2006.  Thisincrease was due mainly to increased office support costs.

*Depreciationand Amortization. *Depreciationfor the six-month period ended June 30, 2007 was $245,355, an increase of$1,915 over depreciation of $243,440 for the six-month period ended June 30,2006 and relates principally to the amortization of loan issuance costs fordebt with the SCERS.

*InterestExpense. *Interestexpense for the six-month period ended June 30, 2007 was $444,794, an increaseof $24,794 over interest expense of $420,000 for the six-month period endedJune 30, 2006, due mainly to additional interest costs associated with $1,000,000in convertible promissory notes.

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*OtherIncome*.  Other incomefor the six-month period ended June 30, 2007 was $88,030, an increase of$16,237 over other income of 71,793 for the six-month period ended June 30,2006.  This increase was due primarily tointerest income from increased cash on hand as a result of equity raisedthrough the Company’s issuance of the Series A Preferred Stock and the issuanceof warrants to acquire 2,500,000 shares of common stock April 2007.

***Liquidity andCapital Resources***

As of June 30, 2007, the Company had total cash on hand of $5,083,044, ofwhich $1,565,667 was restricted cash. The Company also had $434,056 in current liabilities, of which $93,699is accrued for preferred dividends payable, and $340,957 is owed for accountspayable and other current liabilities.

Cashflows used in operating activities for the six months of June 30, 2007 were$1,595,891 compared to $815,927 used in operating activities for the six-monthperiod ended June 30, 2006.

Net cash provided by financing activities was $5,000,000 for the firstsix months of 2007, consisting primarily of the private placement of 5,000,000shares of Series A Preferred Stock for a purchase price of $4,500,000.  The Series A Preferred Stock is subject tothe terms and conditions of a Certificate of Designation, which terms andconditions include a 10% accrued dividend that will be reduced to a 5% dividendupon the Company entering into a commercial agreement(s) that will increase theCompany’s aggregate revenues to $40 million per year, and further reduced to a2% dividend upon the Company recording net revenues of $1 million per quarter.Each share of Series A Preferred Stock may be converted into five shares of commonstock at anytime by the holder and under certain conditions by the Company. TheSeries A Preferred Stock must be redeemed by the Company on April 18, 2012, orprior to that time if the Company fails to fulfill certain obligations to thoseholders of preferred stock for reserving and registering for resale the sharesthat may be issued upon conversion or upon certain assignments or bankruptcyproceedings.

Management believes that the Company’s capital resources are adequate tocontinue operating and maintaining its current business strategy during thenext twelve months.

***CriticalAccounting Policies and Significant Judgments and Estimates***

There have been no material changes in our critical accounting policiesor critical accounting estimates since the filing of our initial registrationstatement on Form SB-2 in January 2006, nor have we adopted any accountingpolicy that has or will have a material impact on our consolidated financialstatements. For further discussion of our accounting policies see Note 2, “SignificantAccounting Policies” in the Notes to Financial Statements in this QuarterlyReport on Form 10-QSB and the Notes to Consolidated Financial Statements in ourAnnual Report on Form 10-KSB for the fiscal year ended December 31, 2006.

***Off-BalanceSheet Arrangements***

We do not have any off-balance sheet arrangements with any party.

**Item3. Controls and Procedures**

***Evaluation of Disclosure Controls and Procedures***

Our CEO and CFOhave evaluated the effectiveness of our disclosure controls and procedurespursuant to Exchange Act Rule 13a-15(b) as of the end of the period covered bythis report. Our disclosure controls and procedures are designed to ensure thatinformation that is required to be included in our filings with the SEC isrecorded, processed, summarized and reported within the time periods specifiedby the SEC, and that such information is accumulated and communicated to ourmanagement, including our CEO and CFO, as appropriate to allow timely decisionsregarding required disclosure.  Based onthat evaluation, they have concluded that our current disclosure controls andprocedures are effective.

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***Changesin Internal Control over Financial Reporting***

There was nochange in the Company’s internal control over financial reporting during thequarterly period ended June 30, 2007 that has materially affected, or isreasonably likely to materially affect, the Company’s internal control overfinancial reporting.

**PARTII - OTHER INFORMATION**

**Item4. Submission of Matters to a Vote of Security Holders.**

On April 12, 2007, the Company held a special meeting of itsstockholders.  Of the 42,500,000****shares of Company common stock outstanding on the recorddate for the special meeting, 25,518,050 were represented and voted at thespecial meeting. At this meeting, theCompany’s stockholders voted as indicated on the following proposals submittedto them for consideration:

1.                                     Toapprove the Contribution Agreement between the Company and Platinum ResearchOrganization L.P., Lubrication Partners, Platinum IP Management, Inc., eachperson holding a limited partnership interest in Platinum Research OrganizationL.P., John T. (“Cork”) Jaeger and Steve Drayton on behalf of certain investors.

FOR:                     25,518,050**                                                           **AGAINST:                                     0**                                                                                   **ABSTAIN:                                     0

2.                                     Toapprove the reincorporation of the Company from the State of Nevada to theState of Delaware pursuant to a merger of the Company with and into a newlyformed Delaware corporation that is currently a wholly owned subsidiary of theCompany.

FOR:                     25,518,050**                                                           **AGAINST:                                     0**                                                                                   **ABSTAIN:                                     0

3.                                     Toadopt a new Certificate of Incorporation and new Bylaws under the laws of theState of Delaware.

FOR:                     25,518,050**                                                           **AGAINST:                                     0**                                                                                   **ABSTAIN:                                     0

4.                                     Toadopt the Platinum Research Organization, Inc. Stock Incentive Plan.

FOR:                     25,518,050**                                                           **AGAINST:                                     0**                                                                                   **ABSTAIN:                                     0

5.                                     Toappoint six new directors to the Company’s Board of Directors.
|                                    | ** ** | **FOR**    | ** ** | **AGAINST** | ** ** | **ABSTAIN** | ** ** |
|------------------------------------|------------|------------|------------|-------------|------------|-------------|------------|
| Thomas G.  Plaskett                |       | 25,518,050 |       | 0           |       | 0           |       |
| John T. (“Cork”)  Jaeger |       | 25,518,050 |       | 0           |       | 0           |       |
| Allan McArtor                      |       | 25,518,050 |       | 0           |       | 0           |       |
| Arnold Burns                       |       | 25,518,050 |       | 0           |       | 0           |       |
| Ben Du Pont                        |       | 25,518,050 |       | 0           |       | 0           |       |
| Mike McMillan                      |       | 25,518,050 |       | 0           |       | 0           |       |

 

No other business was presented, and there were nobroker non-votes.

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**Item 6.Exhibits.**
| Exhibit No. | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-------------|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ** **  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.1         |       | Contribution Agreement, dated October 26, 2006, by  and among Platinum Research Organization, LP, Lubrication Partners, joint  venture, Platinum IP Management, Inc., John T. (Cork) Jaeger as the  representative of the partners of Platinum Research Organization, LP, and  Steve Drayton as the representative of all certain individuals who invested  in the Company in a private placement completed in conjunction with the  Contribution Agreement (incorporated by reference to Exhibit 2.1 filed with  the Company’s Current Report on Form 8-K/A-1 dated October 26, 2006). |
| 2.2         |       | Amendment to Contribution Agreement dated December  26, 2006. (incorporated by reference to Exhibit 4.1 filed with the Company’s  Current Report on Form 8-K dated January 9, 2007).                                                                                                                                                                                                                                                                                                                                                                                                    |
| 2.3         |       | Amendment to Contribution Agreement dated February  28, 2007. (incorporated by reference to Exhibit 4.1 filed with the Company’s  Current Report on Form 8-K dated February 28, 2007).                                                                                                                                                                                                                                                                                                                                                                                                  |
| 3.1         |       | Certificate of Incorporation of Platinum Research  Organization, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 3.2         |       | Bylaws of Platinum Research Organization, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 4.1         |       | Certificate of Designations for Series “A” Preferred  Stock (incorporated by reference to Exhibit 4.1 to the Company’s Current  Report on Form 8-K dated April 18, 2007).                                                                                                                                                                                                                                                                                                                                                                                                     |
| 4.2         |       | Registration Rights Agreement, dated April 18, 2007,  between the Company, the investors named therein, Investa Corporation and  Cecilia Pineda (incorporated by reference to Exhibit 4.4 filed with the  Company’s Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                 |
| 4.3         |       | Lock-Up Agreement, dated April 18, 2007, between the  Company, Lubrication Partners, Joint Venture and Lubrication Partners, L.P  Pineda (incorporated by reference to Exhibit 4.7 filed with the Company’s  Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                        |
| 4.4         |       | Voting Agreement, dated April 18, 2007, between the  Company, Lubrication Partners, Joint Venture and Lubrication Partners, L.P.  Pineda (incorporated by reference to Exhibit 4.6 filed with the Company’s  Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                        |
| 10.1        |       | Consulting Agreement, dated April 14, 2007, between  Platinum Research Organization, Inc., The Fairmount Company and John T.  Jaeger, Jr. (incorporated by reference to Exhibit 10.1 filed with the  Company’s Quarterly Report on Form 10-QSB for the period ended March 31,  2007).                                                                                                                                                                                                                                                                                                   |
| 31.1        |       | Certificate of CEO as Required by Rule  13a-14(a)/15d-14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 31.2        |       | Certificate of CFO as Required by Rule  13a-14(a)/15d-14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 32.1        |       | Certificate of CEO and CFO as Required by Rule  13a-14(b) and Rule 15d-14(b) (17 CFR 240.15d-14(b)) and Section 1350 of  Chapter 63 of Title 18 of the United States Code.                                                                                                                                                                                                                                                                                                                                                                                                                   |

 

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**SIGNATURES**

In accordance with therequirements of the Exchange Act, the registrant caused this report to thesigned on its behalf by the undersigned, thereunto duly authorized.
|                        | **PLATINUM RESEARCH ORGANIZATION, INC.** |
|------------------------|------------------------------------------|
| ** **             | ** **                               |
| ** **             | ** **                               |
| Date: August 14,  2007 | By:                                      |   /s/ John T.  Jaeger, Jr. |
|                   |                                     | John T. Jaeger,  Jr. |
|                   |                                     | President, Chief Executive Officer and Member of |
|                   |                                     | the Board of Directors |
|                   |                                     |   |
|                   |                                     |   |
| Date: August 14,  2007 | By:                                      |   /s/ Michael D. Newman |
|                   |                                     | Michael D. Newman |
|                   |                                     | Chief Financial Officer and Senior Vice President |

 

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**EXHIBITINDEX**
| Exhibit No. | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-------------|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ** **  | ** ** | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.1         |       | Contribution Agreement, dated October 26, 2006, by  and among Platinum Research Organization, LP, Lubrication Partners, joint  venture, Platinum IP Management, Inc., John T. (Cork) Jaeger as the  representative of the partners of Platinum Research Organization, LP, and  Steve Drayton as the representative of all certain individuals who invested  in the Company in a private placement completed in conjunction with the  Contribution Agreement (incorporated by reference to Exhibit 2.1 filed with  the Company’s Current Report on Form 8-K/A-1 dated October 26, 2006). |
| 2.2         |       | Amendment to Contribution Agreement dated December  26, 2006. (incorporated by reference to Exhibit 4.1 filed with the Company’s  Current Report on Form 8-K dated January 9, 2007).                                                                                                                                                                                                                                                                                                                                                                                                    |
| 2.3         |       | Amendment to Contribution Agreement dated February  28, 2007. (incorporated by reference to Exhibit 4.1 filed with the Company’s  Current Report on Form 8-K dated February 28, 2007).                                                                                                                                                                                                                                                                                                                                                                                                  |
| 3.1         |       | Certificate of Incorporation of Platinum Research  Organization, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 3.2         |       | Bylaws of Platinum Research Organization, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 4.1         |       | Certificate of Designations for Series “A” Preferred  Stock (incorporated by reference to Exhibit 4.1 to the Company’s Current  Report on Form 8-K dated April 18, 2007).                                                                                                                                                                                                                                                                                                                                                                                                     |
| 4.2         |       | Registration Rights Agreement, dated April 18, 2007,  between the Company, the investors named therein, Investa Corporation and  Cecilia Pineda (incorporated by reference to Exhibit 4.4 filed with the  Company’s Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                 |
| 4.3         |       | Lock-Up Agreement, dated April 18, 2007, between the  Company, Lubrication Partners, Joint Venture and Lubrication Partners, L.P  Pineda (incorporated by reference to Exhibit 4.7 filed with the Company’s  Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                        |
| 4.4         |       | Voting Agreement, dated April 18, 2007, between the  Company, Lubrication Partners, Joint Venture and Lubrication Partners, L.P.  Pineda (incorporated by reference to Exhibit 4.6 filed with the Company’s  Current Report on Form 8-K dated October 26, 2006).                                                                                                                                                                                                                                                                                                                        |
| 10.1        |       | Consulting Agreement, dated April 14, 2007, between  Platinum Research Organization, Inc., The Fairmount Company and John T.  Jaeger, Jr. (incorporated by reference to Exhibit 10.1 filed with the  Company’s Quarterly Report on Form 10-QSB for the period ended March 31,  2007).                                                                                                                                                                                                                                                                                                   |
| 31.1        |       | Certificate of CEO as Required by Rule  13a-14(a)/15d-14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 31.2        |       | Certificate of CFO as Required by Rule  13a-14(a)/15d-14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 32.1        |       | Certificate of CEO and CFO as Required by Rule  13a-14(b) and Rule 15d-14(b) (17 CFR 240.15d-14(b)) and Section 1350 of  Chapter 63 of Title 18 of the United States Code.                                                                                                                                                                                                                                                                                                                                                                                                                   |

 

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