UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C.  20549





Form
10-Q





(Mark
One)





x
            QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For
the quarterly period ended September 30, 2009





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





For the
transition period from _______________ to _______________.





Commission
file number:  000-50898





INverso
Corp.


(Exact
name of registrant as specified in its charter)





Delaware
              (State
      or other jurisdiction of
              incorporation
      or organization)
            34-1996527
              (I.R.S.
      Employer
              Identification
      No.)1362
      Springfield Church Road
              Jackson
      Center, PA
              (Address
      of principal executive offices)
            16133
              (Zip
      Code)(814)
      786-8849
              (Registrant’s
      telephone number, including area code)(Former
      name, former address and former fiscal year, if changed since last
      report.)





Indicate by check mark whether the
registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 during the preceding 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90
days.    Yes     x        
 No ̈





Indicate by check mark whether the
registrant has submitted electronically and posted on its corporate Web site, if
any, every Interactive Data File required to be submitted and posted pursuant to
Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12
months (or for such shorter period that the registrant was required to submit
and post such
files).  Yes         ̈        No     x.





Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company.  See the definitions of “large
accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule
12b-2 of the Exchange Act.





Large
      accelerated filer   ̈
              Accelerated
      filer   ̈Non-accelerated
      filer   ̈
              Smaller
      reporting company x(Do
      not check if a smaller reporting company)





Indicate by check mark whether the
registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).Yes   ̈      No
 x.





Applicable
only to issuers involved in bankruptcy proceedings during the preceding five
years:





Indicate by check mark whether the
registrant filed all documents and reports required to be filed by Sections 12,
13 or 15(d) of the Exchange Act of 1934 subsequent to the distribution of
securities under a plan confirmed by a
court.   Yes   ̈No ̈





Applicable
only to corporate issuers:





Indicate the number of shares
outstanding of each of the issuer’s classes of common stock, as of the latest
practicable date.  As of November 20, 2009, there were 49,232,890
shares of common stock, no par value, issued and
outstanding.





INverso
Corp.





TABLE OF
CONTENTS





PART
      I – FINANCIAL INFORMATIONITEM 1
                              FINANCIAL
      STATEMENTS
                              1ITEM 2
                              MANAGEMENTSDISCUSSION AND ANALYSISOF FINANCIALCONDITION AND RESULTS OF
      OPERATIONS.
                              10ITEM 3
                              QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK
                              12ITEM 4T
                              CONTROLS
      AND PROCEDURES
                              13PART II - OTHER
  INFORMATIONITEM 1
                              LEGAL
      PROCEEDINGS
                              15ITEM 1A
                              RISK
      FACTORS
                              15ITEM 2
                              UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OFPROCEEDS
                              15ITEM 3
                              DEFAULTS
      UPON SENIOR SECURITIES
                              16ITEM 4
                              SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS
                              16ITEM 5
                              OTHER
      INFORMATION
                              16ITEM 6
                              EXHIBITS
                              16





PART
I – FINANCIAL INFORMATION





This Quarterly Report includes
forward-looking statements within the meaning of the Securities Exchange Act of
1934 (the “Exchange Act”).  These statements are based on management’s
beliefs and assumptions, and on information currently available to
management.  Forward-looking statements include the information
concerning our possible or assumed future results of operations set forth under
the heading “Management’s Discussion and Analysis of Financial Condition and
Results of Operations.”  Forward-looking statements also include
statements in which words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “estimate,” “consider” or similar expressions are used.





Forward-looking statements are not
guarantees of future performance.  They involve risks, uncertainties
and assumptions.  Our future results and shareholder values may differ
materially from those expressed in these forward-looking
statements.  Readers are cautioned not to put undue reliance on any
forward-looking statements.





1




ITEM
1         Financial
Statements


INverso
Corp. and Subsidiary


(A
Development Stage Company)


Consolidated
Balance Sheets


As
of September 30, 2009 and June 30, 2009


(Unaudited)





ASSETS





9/30/2009
                
                
                6/30/2009(Unaudited)
                
                
                (Audited)Current
      assetsCash
                
                $
                519
                
                
                $
                2,868Total
      assets
                
                $
                519
                
                
                $
                2,868





LIABILITIES
AND STOCKHOLDERS' EQUITY / (DEFICIT)





9/30/2009
                  
                  
                  6/30/2009(Unaudited)
                  
                  
                  (Audited)Current
      liabilitiesAccounts
      payable
                  
                  $
                  14,913
                  
                  
                  $
                  20,789Patent-related
      payables
                  
                  
                  16,955Notes
      payable
                  
                  
                  47,734
                  
                  
                  
                  28,534Total
      liabilities
                  
                  
                  79,602
                  
                  
                  
                  49,323Stockholders'
      equity / (deficit)Preferred
      stock (par 0.001, 20,000,000 shares authorized, and 3,702,222 issued and
      outstanding)
                  
                  
                  3,702Common
      stock (par 0.000001, 100,000,000 shares authorized, and 46,732,890 issued
      and outstanding)
                  
                  
                  47
                  
                  
                  
                  48Additional
      paid in capital
                  
                  
                  148,478
                  
                  
                  
                  141,601Accumulated
      deficit during the development stage
                  
                  
                  (231,310
                  )
                  
                  
                  (183,873
                  )Subscription
      receivable
                  
                  
                  
                  
                  
                  
                  (4,231
                  )Total
      stockholders' equity / (deficit)
                  
                  
                  (79,083
                  )
                  
                  
                  (46,455
                  )Total
      liabilities and stockholders' deficit
                  
                  $
                  519
                  
                  
                  $
                  2,868





See
accompanying notes to financial statements


2





INverso
Corp. and Subsidiary


(A
Development Stage Company)


Consolidated
Statements of Income


For
the Periods Ended September 30, 2009 and 2008


(Unaudited)





From
      May 28,Three
      Months
                    
                    
                    Three
      Months
                    
                    
                    2004
      (Inception)Ended
                    
                    
                    Ended
                    
                    
                    ThroughSeptember 30, 2009
                    
                    
                    September 30, 2008
                    
                    
                    September 30, 2009Revenue:Fees
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -Expenses:Accounting
                    
                    
                    6,458
                    
                    
                    
                    7,998
                    
                    
                    
                    48,370Consulting
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    10,000Dues
      and subscriptions
                    
                    
                    1,605
                    
                    
                    
                    -
                    
                    
                    
                    3,419Premium
      paid for inactive related party
                    
                    
                    -
                    
                    
                    
                    52,776
                    
                    
                    
                    52,776Legal
                    
                    
                    7,610
                    
                    
                    
                    1,987
                    
                    
                    
                    82,835Office
      expenses
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    65Stock
      based compensation
                    
                    
                    7,405
                    
                    
                    
                    -
                    
                    
                    
                    7,405Taxes
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    18523,078
                    
                    
                    
                    62,761
                    
                    
                    
                    205,055Other
      income / (expense):Gain
      on sale of subsidiary
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    4,900Impairment
      of intellectual property
                    
                    
                    (24,359
                    )
                    
                    
                    -
                    
                    
                    
                    (24,359
                    )Goodwill
      impairment
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    (6,796
                    )Total
      other income / (expense)
                    
                    
                    (24,359
                    )
                    
                    
                    -
                    
                    
                    
                    (26,255
                    )Net
      Ioss
                    
                    $
                    (47,437
                    )
                    
                    $
                    (62,761
                    )
                    
                    $
                    (231,310
                    )Weighted
      average shares outstanding-
      basic and diluted
                    
                    
                    47,864,883
                    
                    
                    
                    34,163,931
                    
                    
                    
                    24,651,597Net
      loss per share - basic and diluted
                    
                    $
                    (0.00
                    )
                    
                    $
                    (0.00
                    )
                    
                    $
                    (0.01
                    )





See
accompanying notes to financial statements


3





INverso
Corp. and Subsidiary


(A
Development Stage Company)


Consolidated
Statement of Changes in Stockholders' Equity/(Deficit)


For
the Period May 28, 2004 (Inception) to September 30, 2009


(Unaudited)





TotalCommon Stock
                    
                    Preferred Stock
                    
                    
                    Additional
                    
                    
                    Shares
                    
                    
                    
                    
                    
                    
                    
                    
                    Stockholders'Paid-in
                    
                    
                    Held in
                    
                    
                    Accumulated
                    
                    
                    Subscription
                    
                    
                    Equity/Shares
                    
                    
                    Amount
                    
                    Shares
                    
                    Amount
                    
                    
                    Capital
                    
                    
                    Treasury
                    
                    
                    Deficit
                    
                    
                    Receivable
                    
                    
                    (Deficit)May
      28, 2004Stock
      issuance for cash
                    
                    
                    22,000,000
                    
                    
                    $
                    22
                    
                    
                    
                    $
                    
                    
                    
                    $
                    78
                    
                    
                    $
                    -
                    
                    
                    $
                    
                    
                    
                    $
                    
                    
                    
                    $
                    100Net
      (loss)May
      28, 2004 (inception) to June 30, 2004
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (1,244
                    )
                    
                    
                    
                    
                    
                    
                    (1,244
                    )Balance,
      June 30, 2004
                    
                    
                    22,000,000
                    
                    
                    
                    22
                    
                    
                    
                    
                    
                    
                    
                    
                    78
                    
                    
                    
                    -
                    
                    
                    
                    (1,244
                    )
                    
                    
                    -
                    
                    
                    
                    (1,144
                    )Net
      (loss)July
      1, 2004 to June 30, 2005
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (1,370
                    )
                    
                    
                    
                    
                    
                    
                    (1,370
                    )Balance,
      June 30, 2005
                    
                    
                    22,000,000
                    
                    
                    
                    22
                    
                    
                    
                    
                    
                    
                    
                    
                    78
                    
                    
                    
                    -
                    
                    
                    
                    (2,614
                    )
                    
                    
                    -
                    
                    
                    
                    (2,514
                    )Net
      (loss)July
      1, 2005 to June 30, 2006
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (500
                    )
                    
                    
                    
                    
                    
                    
                    (500
                    )Balance,
      June 30, 2006
                    
                    
                    22,000,000
                    
                    
                    
                    22
                    
                    
                    
                    
                    
                    
                    
                    
                    78
                    
                    
                    
                    -
                    
                    
                    
                    (3,114
                    )
                    
                    
                    -
                    
                    
                    
                    (3,014
                    )Issuance
      of common stock related to merger on September 25, 2006
                    
                    
                    11,500,000
                    
                    
                    
                    12
                    
                    
                    
                    
                    
                    
                    
                    
                    29,988
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    30,000Purchase
      of treasury shares related to merger on September 25, 2006
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    16,886
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (16,886
                    )Retirement
      of treasury shares related to merger on September 25, 2006
                    
                    
                    (20,000,000
                    )
                    
                    
                    (20
                    )
                    
                    
                    
                    
                    
                    
                    
                    (16,866
                    )
                    
                    
                    (16,886
                    )Net
      (loss)July
      1, 2006 to June 30, 2007
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (31,284
                    )
                    
                    
                    
                    
                    
                    
                    (31,284
                    )Balance,
      June 30, 2007
                    
                    
                    13,500,000
                    
                    
                    
                    14
                    
                    
                    
                    
                    
                    
                    
                    
                    13,200
                    
                    
                    
                    -
                    
                    
                    
                    (34,398
                    )
                    
                    
                    -
                    
                    
                    
                    (21,184
                    )Net
      (loss)July
      1, 2007 to June 30, 2008
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (31,244
                    )
                    
                    
                    
                    
                    
                    
                    (31,244
                    )Balance,
      June 30, 2008
                    
                    
                    13,500,000
                    
                    
                    
                    14
                    
                    
                    
                    
                    
                    
                    
                    
                    13,200
                    
                    
                    
                    -
                    
                    
                    
                    (65,642
                    )
                    
                    
                    -
                    
                    
                    
                    (52,428
                    )Issuance
      of common stock related to share exchange agreement on August 5,
      2008
                    
                    
                    19,148,458
                    
                    
                    
                    19
                    
                    
                    
                    
                    
                    
                    
                    
                    71,546
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    71,565Issuance
      of common stock for cash and subscription in August and September of
      2008
                    
                    
                    15,216,425
                    
                    
                    
                    15
                    
                    
                    
                    
                    
                    
                    
                    
                    56,855
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (4,231
                    )
                    
                    
                    52,639Net
      (loss)July
      1, 2008 to June 30, 2009
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (118,231
                    )
                    
                    
                    
                    
                    
                    
                    (118,231
                    )Balance,
      June 30, 2009
                    
                    
                    47,864,883
                    
                    
                    
                    48
                    
                    
                    
                    
                    
                    
                    
                    
                    141,601
                    
                    
                    
                    -
                    
                    
                    
                    (183,873
                    )
                    
                    
                    (4,231
                    )
                    
                    
                    (46,455
                    )Issuance
      of preferred stock for rights to patents and licenses on September 28,
      2009
                    
                    
                    
                    
                    
                    
                    
                    
                    1,851,111
                    
                    
                    1,851
                    
                    
                    
                    5,553
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    7,404Issuance
      of preferred stock for services on September 28, 2009
                    
                    
                    
                    
                    
                    
                    
                    
                    1,851,111
                    
                    
                    1,851
                    
                    
                    
                    5,554
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    7,405Reduction
      of common stock for unpaid subscription
                    
                    
                    (1,131,993
                    )
                    
                    
                    (1
                    )
                    
                    
                    
                    
                    
                    
                    
                    (4,230
                    )
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    4,231
                    
                    
                    
                    -Net
      (loss)July
      1, 2009 to September 30, 2009
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (47,437
                    )
                    
                    
                    
                    
                    
                    
                    (47,437
                    )Balance,
      September 30, 2009
                    
                    
                    46,732,890
                    
                    
                    $
                    47
                    
                    3,702,222
                    
                    $
                    3,702
                    
                    
                    $
                    148,478
                    
                    
                    $
                    -
                    
                    
                    $
                    (231,310
                    )
                    
                    $
                    -
                    
                    
                    $
                    (79,083
                    )


See
accompanying notes to financial statements


4





INverso
Corp. and Subsidiary


(A
Development Stage Company)


Consolidated
Statements of Cash Flows


For
the Periods Ended September 30, 2009 and 2008


(Unaudited)





From
      May 28,Three
      Months
                
                
                Three
      Months
                
                
                2004
      (Inception)Ended
                
                
                Ended
                
                
                ThroughSeptember 30, 2009
                
                
                September 30, 2008
                
                
                September 30, 2009OPERATING
      ACTIVITIESNet
      loss
                
                $
                (47,437
                )
                
                $
                (62,761
                )
                
                $
                (231,310
                )Adjustment
      to reconcile net loss to net cash used in operations:Non-cash
      preferred stock compensation
                
                
                7,405
                
                
                
                -
                
                
                
                7,405Non-cash
      premium for inactive related party
                
                
                -
                
                
                
                52,776
                
                
                
                52,776Goodwill
      impairment
                
                
                -
                
                
                
                -
                
                
                
                6,796Impairment
      of intellectual property
                
                
                24,359
                
                
                
                -
                
                
                
                24,359Change
      in accounts payable
                
                
                (5,876
                )
                
                
                (29,971
                )
                
                
                14,913Net
      cash used in operating activities
                
                
                (21,549
                )
                
                
                (39,956
                )
                
                
                (125,061
                )INVESTING
      ACTIVITIESPurchase
      of goodwill related related to merger on 9/25/06
                
                
                -
                
                
                
                -
                
                
                
                (6,796
                )FINANCING
      ACTIVITIESChange
      in short-term notes payable
                
                
                19,200
                
                
                
                (15,284
                )
                
                
                47,734Issuance
      of common stock
                
                
                -
                
                
                
                34
                
                
                
                48Proceeds
      from paid in capital
                
                
                -
                
                
                
                52,605
                
                
                
                82,990Accounts
      payable reduction for shares
                
                
                -
                
                
                
                18,490
                
                
                
                18,490Purchase
      of treasury shares
                
                
                -
                
                
                
                -
                
                
                
                (16,886
                )Net
      cash provided by financing activities
                
                
                19,200
                
                
                
                55,845
                
                
                
                132,376Net
      cash increase / (decrease) for the period
                
                
                (2,349
                )
                
                
                15,889
                
                
                
                519Cash
      at the beginning of period
                
                
                2,868
                
                
                
                -
                
                
                
                -Cash
      at the end of period
                
                $
                519
                
                
                $
                15,889
                
                
                $
                519





See
accompanying notes to financial statements


5




INverso
Corp. and Subsidiary
 Notes
to Financial Statements
 
 1.
              Description of
      Business
 
 The
consolidated financial statements include the accounts of INverso Corp. (the
“Company”), which is a Delaware corporation and its wholly owned subsidiary,
Genesi, Inc. (“Genesi”), which is an Illinois corporation.
 
 In the
three months ended September 30, 2009, the Company has acquired provisional
patents for technologies used in the treatment of auto-immune diseases, blood
borne carcinomas and sequential extracorporeal treatment of
blood.  However, the Company has no inventory or fixed
assets.  Additionally, the Company has no revenue or cost of
sales.  The expenses incurred as of the date of the review are the
start-up costs of the Company.  Therefore, the Company is considered
to be in the development stage.
 
 2.
              Summary of Significant
      Accounting Policies
 
 Basis of
accounting
 
 The
Company’s policy is to prepare its financial statements on the accrual basis of
accounting in conformity with generally accepted accounting principles in the
United States of America (U.S. GAAP).
 
 Cash and cash
equivalents
 
 The
Company considers all highly liquid investments, with a maturity of three months
or less when purchased, to be cash equivalents.
 
 Loss per
share
 
 Loss per
share is computed by dividing the net income by the weighted average number of
common shares outstanding of 47,864,883 for the three months ended September 30,
2009, 34,163,931 for the three months ended September 30, 2008, and 24,651,597
for the period from May 28, 2004 (inception) through September 30,
2009.  The computation of diluted loss per share does not assume the
conversion of the preferred shares because that would have an anti-dilutive
effect on loss per share.
 
 Use of
estimates
 
 The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
reported amounts of revenue and expenses during the reporting
period.  Actual results could differ from those
estimates.
  6
  Intangible
assets
 
 Intangible
assets are initially assessed for impairment upon purchase, with subsequent
assessments required annually.  When there is reason to suspect that
their values have been diminished or impaired, a write-down is recognized as
necessary.
 
 Income
taxes
 
 Deferred
tax assets and liabilities are computed based upon the difference between the
financial statement and income tax basis of assets and liabilities using the
enacted marginal tax rate applicable when the related asset or liability is
expected to be realized or settled.  Deferred income tax expenses or
benefits are based on the changes in the asset or liability each
period.  If available evidence suggests that it is more likely than
not that some portion or all of the deferred tax assets will not be realized, a
valuation allowance is required to reduce the deferred tax assets to the amount
that is more likely than not to be realized.  Future changes in such
valuation allowance are included in the provision for deferred income taxes in
the period of change.
 
 Stock Based
Compensation
 
 The
Company follows Statement of Financial Accounting Standard No. 123, “Accounting
for Stock-Based Compensation” and computes fair value based on the estimated
value of the shares on the grant date.
 
 3.
              Going
      Concern
 
 Due to
the development stage of the Company and since there have been no revenues as of
September 30, 2009, there is substantial doubt as to the Company’s ability to
continue as a going concern.  In order to meet its upcoming and
continuing obligations, additional financing or new revenues will be
needed.  The financial statements do not include any adjustments that
might be necessary should the Company be unable to continue as a going
concern.
 
 4.
              Notes
      Payable
 
 The
Company has received money from investors that have been classified as
loans.  One loan was exchanged for common stock as part of the August
6, 2008 private placement.  This loan came from The Nutmeg Group, LLC
and its affiliates (“TNG”).  Randall S. Goulding, the former
president, and current secretary of INverso, is the managing member of TNG and
owns 100% of the LLC.  New loans came in from March of 2009 through
the date of the review.  The loans came from William A. Hartman who
became the president and director of the Company on September 9, 2009 as well as
Mitch Felder, a consultant to the Company.  The balances were $33,467
and $14,267 as of the date of the review.  It is expected that stock
will be issued to settle these loans, but some of the terms of the investment
have not been finalized.  No interest has been paid or
accrued.
  7
  5.
              Related Party
      Transactions
 
 The
Company issued 14,348,946 shares of stock to TNG in exchange for $53,628, made
up of cash of $34,113, release of a note payable valued at $15,284, and a
subscription receivable of $4,231.  Randall S. Goulding, the former
president, and current secretary of INverso, is the managing member of The
Nutmeg Group and owns 100% of the LLC.  The final subscription payment
related to these shares was never made.  The Company only issued
13,216,953 shares to TNG to make up the difference.  As of the date of
the review, there is no longer a subscription receivable.
 
 On
September 28, 2009, the Company entered into a securities purchase agreement
with William A. Hartman wherein, in exchange for accepting an appointment as an
officer and director of the company, and for developing a business around the
technologies acquired pursuant to the license agreements, the Company agreed to
issue to Hartman 1,851,111 shares of Series A Convertible Preferred Stock, the
terms of which are described in note 6, with an estimated value of
$7,405.
 
 6.
              Significant
      Transactions
 
 On August
5, 2008, the Company entered into a share exchange agreement with
Genesi.  The Company issued 19,148,458 shares, in exchange for 71,565
newly issued shares of Genesi.  The value of the shares was determined
to be $71,565, the same price per share as the private placement offering on
August 6, 2008.  INverso had owed Genesi $18,490, which was eliminated
in the transaction.  A charge of $52,776 was recorded as a result of
the transaction and was determined to be a premium paid for inactive related
party.  Shortly thereafter, Genesi gave all of its shares of INverso
to its three shareholders in exchange for their shares of
Genesi.  This made Genesi a 100% subsidiary of the
INverso.
 
 On August
6, 2008, the Company did a private placement offering to current shareholders to
issue 27,500,000 shares at $0.003737391 for a maximum raise of
$102,778.  Originally, 15,216,425 shares were set to be issued for
$56,870.  $37,355 of cash was collected, $15,284 of debt was relieved
and $4,231 was due from an investor.  However, the final subscription
payment related to these shares was never made.  The Company therefore
adjusted the issuance to only 14,084,432 total shares to make up the
difference.  As of the date of the review, there is no longer a
subscription receivable.
 
 Effective
September 9, 2009, Randall S. Goulding, the sole officer and director of the
Company, resigned from all positions except for
Secretary.  Immediately prior to his resignation as a Director,
Randall S. Goulding appointed William A. Hartman, Bonnie L. Hartman, and Heidi
H. Carl as directors.  Immediately following their appointment as a
director, the three new directors appointed William A. Hartman as President and
Chief Executive Office, Bonnie L. Hartman as Treasurer, and Heidi H. Carl as
Director of Marketing and Planning.
  8
  6.
              Significant
      Transactions (cont.)
 
 On
September 28, 2009, the Company created a new series of Preferred Stock called
Series A Convertible Preferred Stock (“PS”) and designated four million of the
twenty million Preferred shares authorized.  At a price of $0.40 per
share, each share of PS is convertible at the option of the holder into one
warrant.  Each warrant gives the holder the right to purchase 100
shares of the Company’s common stock for $0.40, or $0.004 per
share.  The holders of the PS also have 100 votes per share of PS that
they hold.  The Company has also agreed to effectuate a reverse stock
split following the issuance of any shares of PS so as to create enough
authorized but unissued common stock to allow for all of the possible
conversions.  The PS has no intrinsic value.  The most
recent offering of common stock was at $0.004 per share.  In order to
convert the PS into warrants and then into common stock, it would be equivalent
to paying $0.008 per share.  Based on the convertibility and voting
rights, the Company has estimated that the fair value of the PS is $0.004 per
share.
 
 On
September 28, 2009, the Company entered into two separate license
agreements.  The first was with Altman Enterprises, LLC (“Altman”),
wherein the Company obtained the exclusive right to use two U.S. provisional
patents for technologies used in the treatment of auto-immune
diseases.  The other was with Marv Enterprises, LLC (“Marv”), wherein
the Company obtained the exclusive right to use two U.S. provisional patents for
technologies used for treatment of blood borne carcinomas and sequential
extracorporeal treatment of blood.  In consideration for the licenses,
the Company agreed to 1) issue 1,234,074 and 617,037 shares of PS to Altman and
Marv respectively, 2) pay a royalty of five percent (5%) of any sales of
products using the technology, with no minimum royalty, and 3) reimburse the
licensor for any costs already incurred in obtaining the patents, and any costs
to be incurred for maintaining or obtaining new intellectual property, in the
U.S. and in extending the intellectual property to other countries around the
world.  The transaction was valued at $24,359, which is based on the
estimated value of the PS, plus the prior patent costs incurred that are
reimbursable to Altman and Marv.  An independent valuation was
performed on the intellectual property and because of the speculative nature of
the asset, it was written down to $0.
 
 7.
              Subsequent
      Events
 
 On
October 2, 2009, the Company entered into a securities purchase agreement with
Bonnie L. Hartman, an officer and director.  The Company agreed to
issue 500,000 shares of common stock to her, and 2,000,000 shares to Heidi H.
Carl, also an officer and director, in exchange for a total of
$10,000.
  9


ITEM
      2
            Managements
      Discussion and Analysis of Financial Condition and Results of
      Operations.





As of and
for the year ended June 30, 2009, we had no operations or revenues.




License
Agreements





On September 28, 2009, we entered into
two separate License Agreements (the “License Agreements”). One License
Agreement was entered into with Altman Enterprises, LLC, wherein we obtained the
exclusive right to use two U.S. provisional patent-pending applications for
technologies used in the treatment of auto-immune diseases, and the other
License Agreement was entered into with Marv Enterprises, LLC, wherein we
obtained the exclusive right to use two U.S. provisional patent-pending
applications for technologies used for treatment of blood borne carcinomas and
sequential extracorporeal treatment of blood. We started developing a business
around these two licenses immediately. Prior to September 28, 2009, we were a
“blank check” company, also often referred to as a “shell” company.





Overview





We are a
research-based company that discovers and develops medical treatments for
humans.





With
medical treatments in development across 3 therapeutic areas, we intend to help
to treat some of the most common and most challenging conditions of our time.
The medications and/or procedures we are currently developing are in central
nervous system disorders; infectious diseases; and oncology.





Results
of Operations for the Three Months Ended September 30, 2009 and
2008





Introduction





We
generated no revenues during the quarters ended September 30, 2009 and 2008, and
have generated no revenues to date. We do not expect to have revenues from our
new business until at least 2011. Our operating expenses during the quarter
ended September 30, 2009 were lower than during the comparable quarter in the
previous year, but only because of an acquisition completed in 2008 that was
later unwound. As a result, our net loss for the quarter ended September 30,
2009 was less than our net loss for the same quarter in 2008.





Revenues and Income (Loss)
from Operations





Our revenue, operating expenses, other
expenses, and net income (loss) from operations for the three months ended
September 30, 2009, as compared to the three months ended September 30, 2008,
and the year ended June 30, 2009 are as follows:




10
  3
      Months
                          Ended
                          September
      30,
                          2009
                        
                        
                        3
      Months
                          Ended
                          September
      30,
                          2008
                        
                        
                        Year
                          Ended
                          June
      30,
                          2009Revenue
                        
                        $
                        -
                        
                        
                        $
                        -
                        
                        
                        $
                        -Operating
      expenses
                        
                        
                        (23,078
                        )
                        
                        
                        (62,761
                        )
                        
                        
                        (118,231
                        )Other
      expenses
                        
                        
                        (24,359
                        )
                        
                        
                        -
                        
                        
                        
                        -Net
      loss from operations
                        
                        $
                        (47,437
                        )
                        
                        $
                        (62,761
                        )
                        
                        $
                        (118,231
                        )
 
 Liquidity
and Capital Resources
 
 Introduction
 
 During
the three months ended September 30, 2009, we had a net loss of $47,437 and
net cash used in operating activities of $21,549.  Because we don’t
have any revenues, almost any change in our revenues or operating expenses has a
material effect, and we anticipate that our net profit or loss, and operating
profit or loss, will continue to vary widely from time period to time
period.
 
 Our cash
and cash equivalents, total current assets, total assets, total current
liabilities, and total liabilities as of September 30, 2009, as compared to June
30, 2009, are as follows:
 
 September
      30,
                      
                      
                      June
      30,2009
                      
                      
                      2009Cash
                      
                      $
                      519
                      
                      
                      $
                      2,868Total
      current assets
                      
                      
                      519
                      
                      
                      
                      2,868Total
      assets
                      
                      
                      519
                      
                      
                      
                      2,868Total
      current liabilities
                      
                      
                      79,602
                      
                      
                      
                      49,323Total
      liabilities
                      
                      
                      79,602
                      
                      
                      
                      49,323
 
 Cash
Requirements
 
 Our cash
requirements are expected to remain consistent with our historical needs over
the next 12 months.  Our cash is utilized primarily for professional
fees associated with operating as a fully reporting public company.
 
 From
March 2009 through the end of the quarter ended September 30, 2009, we borrowed
$33,467 from William A. Hartman, an officer and director, and $14,267 from Mitch
Felder, a consultant.  The exact terms of the loan have not been
finalized yet.
 
 On
October 2, 2009, we sold 2,500,000 shares of our common stock for $10,000
pursuant to a Securities Purchase Agreement with Bonnie L. Hartman, an officer
and director.  Of these shares, 2,000,000 were issued to Heidi Carl,
also an officer and director.
 
 Beyond
the next 12 months, our cash needs are anticipated to remain relatively
constant.  We anticipate fulfilling our cash needs primarily through
the sale of our common stock or the issuance of debt securities.  We
cannot estimate what our cash needs will be in the future, other than the
approximately $50,000 annually we anticipate spending on the cost of being a
reporting company, and we have not entered into any discussions concerning the
sale of our common stock in the future.
  11
  Sources and Uses of
Cash
 
 Operations
and Financing
 
 During
the three months ended September 30, 2009, we generated a decrease in cashflow
of $(2,349).  Net cash provided by (used in) operating activities for
the three months ended September 30, 2009 and 2008, were $(21,549) and
$(39,956), respectively.  The principal component of the net cash used
in operations during the nine months ended September 30, 2009 was a net loss of
$(47,437), which was partially offset by non-cash preferred stock compensation
of $7,405, impairment of intellectual property of 24,359, and a change in
accounts payable of $(5,876).
 
 We
anticipate that we will continue to operate at a loss until we are able to
obtain substantial financing.
 
 Critical
Accounting Policies
 
 Our
accounting policies are fully described in Note 2 to our consolidated financial
statements within the 10-K.
 
 Our
results of operations are based upon our consolidated financial statements,
which have been prepared in accordance with accounting principals generally
accepted in the United States.  The preparation of these financial
statements requires us to make estimates and judgments that affect the reported
amounts of assets, liabilities, revenues and expenses, and related disclosure of
contingent assets and liabilities.  On an on-going basis, we evaluate
our estimates, including those related to bad debt, inventories, investments,
intangible assets, income taxes, financing operations, and contingencies and
litigation.
 
 We base
our estimates on historical experience and on various other assumptions that are
believed to be reasonable under the circumstances, the results of which form the
basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources.  Actual results may
differ from these estimates under different assumptions or
conditions.
 
 Off-balance
Sheet Arrangements
 
 We have no off-balance sheet
arrangements that are reasonably likely to have a current or future effect on
our financial condition, changes in financial condition, revenues or expenses,
results of operations, liquidity, capital expenditures or capital resources that
is deemed by our management to be material to investors.
 
 ITEM
      3
              Quantitative
      and Qualitative Disclosures About Market
Risk
 
 As a
smaller reporting company, we are not required to provide the information
required by this Item.
  12
  ITEM
      4T
              Controls
      and Procedures
 
 (a)           Disclosure Controls and
Procedures
 
 We
conducted an evaluation, with the participation of our Chief Executive Officer
and Chief Financial Officer, of the effectiveness of the design and operation of
our disclosure controls and procedures, as defined in Rules 13a-15(e) and
15d-15(e) under the Securities Exchange Act of 1934, as amended, or the Exchange
Act, as of September 30, 2009, to ensure that information required to be
disclosed by us in the reports filed or submitted by us under the Exchange Act
is recorded, processed, summarized and reported, within the time periods
specified in the Securities Exchange Commission's rules and forms, including to
ensure that information required to be disclosed by us in the reports filed or
submitted by us under the Exchange Act is accumulated and communicated to our
management, including our principal executive and principal financial officer,
or persons performing similar functions, as appropriate to allow timely
decisions regarding required disclosure.  Based on that evaluation,
our Chief Executive Officer and Chief Financial Officer have concluded that as
of September 30, 2009, our disclosure controls and procedures were not effective
at the reasonable assurance level due to the material weaknesses identified and
described in Item 4T(b).
 
 (b)           Management Report on Internal Control
Over Financial Reporting
 
 Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting.  Internal control over financial
reporting is defined in Rules 13a-15(f) and 15d-15(f) promulgated under the
Exchange Act, as amended, as a process designed by, or under the supervision of,
our principal executive and principal financial officer and effected by our
board of directors, management and other personnel, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles in the United States and includes those policies
and procedures that:
 
 •           Pertain
to the maintenance of records that in reasonable detail accurately and fairly
reflect our transactions and any disposition of our assets;
 
 •           Provide
reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted
accounting principles, and that our receipts and expenditures are being made
only in accordance with authorizations of our management and
directors; and
 
 •           Provide
reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of our assets that could have a material effect
on the financial statements.
 
 Because
of its inherent limitations, internal control over financial reporting may not
prevent or detect all misstatements.  Projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
 
 A
material weakness is a deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a reasonable possibility
that a material misstatement of our annual or interim financial statements will
not be prevented or detected on a timely basis.  Our management
assessed the effectiveness of our internal control over financial reporting as
of June 30, 2009. In making this assessment, our management used the criteria
set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control-Integrated
Framework.  Based on this assessment, Management has identified the
following two material weaknesses that have caused management to conclude that,
as of September 30, 2009, our disclosure controls and procedures, and our
internal control over financial reporting, were not effective at the reasonable
assurance level:
  13
  1.           We
do not have sufficient segregation of duties within accounting functions, which
is a basic internal control.  Due to our size and nature, segregation
of all conflicting duties may not always be possible and may not be economically
feasible.  However, to the extent possible, the initiation of
transactions, the custody of assets and the recording of transactions should be
performed by separate individuals.  Management evaluated the impact of
our failure to have segregation of duties on our assessment of our disclosure
controls and procedures and has concluded that the control deficiency that
resulted represented a material weakness.
 
 2.           We
have not documented our internal controls.  We have limited policies
and procedures that cover the recording and reporting of financial
transactions.  Although providing this report in this Annual Report is
optional for us at this time, written documentation of key internal controls
over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley
Act.  We were required to provide written documentation of key
internal controls over financial reporting beginning with our fiscal year ending
June 30, 2009.  Management evaluated the impact of our failure to have
written documentation of our internal controls and procedures on our assessment
of our disclosure controls and procedures and has concluded that the control
deficiency that resulted represented a material weakness.
 
 To address these material weaknesses,
management performed additional analyses and other procedures to ensure that the
financial statements included herein fairly present, in all material respects,
our financial position, results of operations and cash flows for the periods
presented.  Accordingly, we believe that the consolidated financial
statements included in this report fairly present, in all material respects, our
financial condition, results of operations and cash flows for the periods
presented.
 
 (c)           Remediation
of Material Weaknesses
 
 To remediate the material weakness in
our documentation, evaluation and testing of internal controls we plan to
internally improve our processes, develop written policies and procedures, and
when our finances allow it, to add personnel to segregate our accounting
functions.
 
 (d)           Changes
in Internal Control over Financial Reporting
 
 Because we are in substantially the
same financial situation as when our first report on internal control over
financial reporting was filed, we have not implemented any of our changes and,
therefore, there are no changes to report during our most recently completed
fiscal quarter.
  14
  PART
II – OTHER INFORMATION
 
 ITEM
      1
                LegalProceedings
 
 In the
ordinary course of business, we may be from time to time involved in various
pending or threatened legal actions.  The litigation process is
inherently uncertain and it is possible that the resolution of such matters
might have a material adverse effect upon our financial condition and/or results
of operations.
 
 We are
not, and have never been, party to legal proceedings, and have no knowledge of
any indication or threat of legal action. We are not aware of any proceedings
contemplated by a government authority.
 
 ITEM
      1A
              Risk
      Factors
 
 As a
smaller reporting company, we are not required to provide the information
required by this Item.  However, we did include Risk Factors in our
most recently filed Annual Report on Form 10-K because it was our first Annual
Report following the acquisition of new technologies pursuant to the License
Agreements.  There are no changes to the risk factors previously
disclosed.
 
 ITEM
      2
              Unregistered
      Sales of Equity Securities and Use of
Proceeds
 
 Common
Stock
 
 On October 2, 2009, we entered into a
Securities Purchase Agreement with Bonnie L. Hartman, one of our officers and
directors.  Under the terms of the agreement, we agreed to issue
500,000 shares of our common stock to her, and 2,000,000 shares to Heidi H.
Carl, or her assigns, also an officer and director, in exchange for
$10,000.  The issuance was exempt from registration pursuant to
Section 4(2) of the Securities Act of 1933, and the investor was
accredited.
 
 Preferred
Stock
 
 On September 28, 2009, pursuant to the
terms of two License Agreements entered into with Altman Enterprises, LLC and
Marv Enterprises, LLC, we issued to each of Altman and Marv 1,234,074 and
617,037 shares, respectively, of a new series of preferred stock, to be known as
Series A Convertible Preferred Stock (the “Preferred Stock”).  The
issuances were exempt from registration pursuant to Section 4(2) of the
Securities Act of 1933, and the shareholders were sophisticated
investors.
 
 On September 28, 2009, we entered into
a Securities Purchase Agreement with William A. Hartman wherein, in exchange for
accepting an appointment as an officer and director of the company, and for
developing a business around the technologies acquired pursuant to the license
agreements described above, we agreed to issue to Hartman 1,851,111 shares of
Preferred Stock.  The issuance was exemption from registration
pursuant to Section 4(2) of the Securities Act of 1933, and the shareholder was
accredited.
 
 On November 20, 2009, the rights,
preferences, and privileges of the Series A Convertible Preferred Stock were
renegotiated by the company and the shareholder designees of the Preferred
Stock, and amended and restated.  The Preferred Stock is convertible,
upon the payment of $0.40 per share of Preferred Stock, and at the option of the
holder, into warrants to purchase 100 shares of our common stock.  The
purchase price for the common stock upon exercise of the warrants is an
additional $0.004 per share.  The holders of our Preferred Stock also
have 100 votes per share of Preferred Stock that they hold.  It also
contains protective provisions as follows:
  15
  The
Company may not take any of the following actions without the approval of a
majority of the holders of the outstanding Series A Convertible Preferred
Stock:  (i) effect a sale of all or substantially all of the Company’s
assets or which results in the holders of the Company’s capital stock prior to
the transaction owning less than fifty percent (50%) of the voting power of the
Company’s capital stock after the transaction, (ii) alter or change the
rights, preferences, or privileges of the Series A Convertible Preferred Stock,
(iii) increase or decrease the number of authorized shares of Series A
Convertible Preferred Stock, (iv) authorize the issuance of securities having a
preference over or on par with the Series A Convertible Preferred Stock, or (v)
effectuate a forward or reverse stock split or dividend of the Company’s common
stock.  Further, the Company hereby discloses that as of the date
hereof, there are not enough authorized but unissued shares of Common Stock of
the Company to effectuate the conversion of all the Warrants, and that any
Designee or Holder of the Series A Convertible Preferred Stock takes their
shares acknowledging this disclosure.  The Company agrees to use its
best efforts to cause all the shareholders of the Company to effectuate a
reverse stock split as soon as reasonably possible following the issuance of any
shares of Series A Convertible Preferred Stock so as to create enough authorized
but unissued common stock to allow for the conversion of the Series A
Convertible Preferred Stock, and hereby states its intent to do so with in a
year of the date hereof.  Any Designee or Holder of the Series A
Convertible Preferred Stock may vote his shares in favor of said reverse stock
split.
 
 ITEM
      3
              Defaults
      Upon Senior Securities
 
 There
have been no events that are required to be reported under this
Item.
 
 ITEM
      4
              Submission
      of Matters to a Vote of Security
Holders
 
 There
have been no events that are required to be reported under this
Item.
 
 ITEM
      5
              Other
      Information
 
 On
November 20, 2009, the shareholder designees of our Series A Convertible
Preferred Stock, who had not yet received and were not in possession of their
shares of preferred stock, renegotiated the terms of the Series A Convertible
Preferred Stock.  Under the new terms, instead of each share of
preferred stock being convertible into 100 shares of common stock, each share of
preferred stock is convertible, upon payment of $0.40, into warrants to purchase
100 shares of common stock.  The warrants have an exercise price of
$0.004 per share.
 
 ITEM
      6
              Exhibits
 
 3.1
      (1)
                
                Certificate
      of Incorporation3.2
      (2)
                
                Certificate
      of Designation of the Rights, Privileges, and Preferences of Series A
      Convertible Preferred Stock3.3
                
                First
      Amended and Restated Certificate of Designation of the Rights, Privileges,
      and Preferences of Series A Convertible Preferred Stock3.4
      (3)
                
                Bylaws10.1
      (2)
                
                License
      Agreement dated September 28, 2009 with Altman Enterprises,
      LLC10.2
      (2)
                
                License
      Agreement dated September 28, 2009 with Marv Enterprises,
    LLC10.3
      (2)
                
                Securities
      Purchase Agreement dated September 28, 2009 with William A.
      Hartman10.4  (4)
                
                Securities
      Purchase Agreement dated October 2, 2009 with Bonnie L.
      Hartman31.1
                
                Rule
      13a-14(a)/15d-14(a) Certification of Chief Executive
    Officer31.2
                
                Rule
      13a-14(a)/15d-14(a) Certification of Chief Financial
    Officer32.1
                
                Chief
      Executive Officer Certification Pursuant to 18 USC, Section 1350, as
      Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
      200232.2
                
                Chief
      Financial Officer Certification Pursuant to 18 USC, Section 1350, as
      Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002
 
 (1)
              Incorporated
      by reference from our Current Report on Form 8-K, filed with the
      Commission on November 1, 2004.
 (2)
              Incorporated
      by reference from our Current Report on Form 8-K, filed with the
      Commission on October 2, 2009.
 (3)
              Incorporated
      by reference from our Registration Statement on Form 10-SB, filed with the
      Commission on August 10, 2004.
 (4)
              Incorporated
      by reference from our Current Report on Form 8-K, filed with the
      Commission on October 7, 2009.
  16
  SIGNATURES
 
 In accordance with the requirements of
the Exchange Act, the registrant caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
 
 INverso
      Corp.Dated:  November
      23, 2009
                    
                    /s/  William
      A. HartmanBy:
                    William
      A. HartmanIts:
                    Chief
      Executive
Officer,
  17