UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 20-F
(Mark One)

[_]  REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES
     EXCHANGE ACT OF 1934

                                       OR

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

     For the fiscal year ended December 31, 2006

                                       OR

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

[_]  SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

Date of event requiring this shell company report ____________

For the transition period from _________________ to _________________

Commission file number  000-1157

                           NEW WORLD BATTERIES, INC.
                           --------------------------
             (Exact name of Registrant as specified in its charter)

                           --------------------------
                 (Translation of Registrant's name into English)

                            British Columbia, Canada
                     ---------------------------------------
                 (Jurisdiction of incorporation or organization)

               11718-232B Street, Maple Ridge BC, Canada V2X 7Z2
               -------------------------------------------------
                    (Address of principal executive offices)

Securities registered or to be registered pursuant to Section 12(b) of the Act.
NA

Title of each class                    Name of each exchange on which registered

-------------------                    -----------------------------------------

-------------------                    -----------------------------------------

Securities registered or to be registered pursuant to Section 12(g) of the Act.

                                     Common
                                     ------
                                (Title of Class)

                                     ------
                                (Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d)
of the Act.

                                       NA
                                     ------
                                (Title of Class)


<PAGE>

SEC 1852 (6-04) Persons who respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.

     Indicate the number of outstanding shares of each of the issuer's classes
of capital or common stock as of the close of the period covered by the annual
report. 8,635,173 as of December 31, 2006

     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.

                                            [X] Yes    [_] No

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

Indicate by check mark which financial statement item the registrant has elected
to follow.

                                              X   Item 17       Item 18
                                             ---            ---

(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST
FIVE YEARS)

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




<PAGE>



Item 1.  Identity of Directors, Senior Management and Advisors

A.   Directors and Senior Management.

Name and Address                  Position/Function
----------------                  --------------------------------------------
Patrick O'Brien                   President, Chief Executive Officer
11718-232B Street                 Chief Financial Officer, Treasurer, Director
Maple Ridge BC, Canada
V2X 7Z2

Robert O'Brien                    Chief Science Officer, Director
2614 Queenswood Dr.
Victoria, BC, Canada
V8N 1X5

Daniel O'Brien                    Director
2614 Queenswood Dr.
Victoria, BC, Canada
V8N 1X5

George Devlin                     Secretary, Director
649 Humboldt St
Victoria, BC, Canada
V8W 1A7


B.       Advisors NA
C.       Auditors.
                           Cinnamon, Jang, Willoughby & Company
                           Chartered Accountants
                           Metro Tower II
                           Suite 900 4720 Kingsway
                           Burnaby, BC, Canada
                           V5H 4N2

Item 2.   Offer Statistics and Expected Timetable     NA


Item 3.   Key Information

A.   Selected Financial Data

     As of December 31, 2006 Presented in Cdn. dollars

Net sales/operating revenues                                              0
Income (loss) from continuing operations                            (33,660)
Income (loss) from continuing operations per common share             (0.01)
Total assets                                                        503,612
Net assets                                                          493,625
Capital stock                                                       692,430
Adjusted number of shares                                         8,635,173
Dividends declared                                                        0


                                       3
<PAGE>
B.     Capitalization and Indebtedness

New World Batteries is authorized to issue an unlimited number of shares of
common stock. As of December 31, 2006 and as of August 7, 2007, there are
8,635,173 shares of Class A common stock outstanding of which 4,000,000 shares
were issued to Dr. Robert O'Brien and Daniel O"Brien for $4 and the
pre-incorporation organization and business plan of New World Batteries and
3,500,000 were sold to the founders of New World Batteries for $0.10 Cdn., per
share upon incorporation. 1,075,172 shares were sold in a private placement
closed on October 31, 2004 at $0.25 per share and 60,000 shares were sold at
$0.25 per share in January 2005. New World Batteries has $9,987 Cdn., of
indebtedness as of fiscal year ended December 31, 2006.

C.     Reasons for the offer and use of proceeds. NA

D.     Risk Factors

An investment in New World Batteries' common stock involves a high degree of
risk. You should carefully consider the risks described below and other
information in this prospectus. If any of the following risks occur, New World
Batteries' business, operating results and financial condition could be
seriously harmed. The trading price of New World Batteries' common stock could
decline due to any of these risks, and you could lose all or part of your
investment.


     We have a limited operating history for investors to evaluate.

We were incorporated in August 2004 as New World Batteries, Inc. Accordingly, we
have a very limited operating history on which you can evaluate our business and
prospects. You must consider the risks and uncertainties frequently encountered
by early stage companies in new and rapidly evolving markets.


     We had a loss for the fiscal year ended December 31, 2006 and may continue
to have losses in the future that may impair the value of an investment in the
shares.

During the fiscal year ended December 31, 2006 we incurred a loss of $33,660Cdn.
This loss resulted primarily from expenditures in market development activities
in anticipation of creating future revenue. As of the date of this filing, we
have not revenue generating operations and no immediate plans to develop
revenues. It will take an unforeseen period of time to achieve or sustain
profitability and we may never achieve or sustain profitability.

     The lack of a public market for our common stock may cause an investor to
have difficulty reselling the shares.

Our common stock is not presently listed for trading on any exchange or market.
Investors may have to indefinitely hold their shares and may have difficulty
selling their shares.


                                       4
<PAGE>
     Investors in our common stock may experience immediate and substantial
dilution as a percentage of their holdings.

The net tangible book value of our common stock at December 31, 2006 was $0.17
per share based on 8,635,173 shares outstanding. Investors paying greater than
such amount will experience immediate and substantial dilution.


     We do not intend to pay dividends for the foreseeable future which may
limit or eliminate any return on investment.

We have not paid a cash dividend to the current shareholders and have not
projected the payment of dividends to shareholders in future as any earnings
will be retained for use in developing and expanding our business. Further, the
actual amount of any future dividends will remain subject to the discretion of
the board of directors. As result, an investor's return on investment will be
dependent upon the establishment of a public market for our common stock and
market prices sufficient to provide a profit, neither of which we can assure
will occur.


     Our common stock may be classified as a "Penny Stock" which could adversely
affect an investor's ability to sell the shares and the available price for the
shares when sold.

We believe that our common stock would be characterized as "penny stock" under
U.S. Securities and Exchange Commission regulations. As such, broker-dealers
dealing in our common stock will be subject to the disclosure rules for
transactions involving penny stocks which require the broker-dealer to determine
if purchasing our common stock is suitable for a particular investor. The
broker-dealer must also obtain the written consent of purchasers to purchase our
common stock. The broker-dealer must also disclose the best bid and offer prices
available for our stock and the price at which the broker-dealer last purchased
or sold our common stock. These additional burdens imposed upon broker-dealers
may discourage them from effecting transactions in our common stock, which could
make it difficult for an investor to sell their shares.


                                       5
<PAGE>




Item 4.   Information on the Company

A.   History and Development of New World Batteries, Inc.

New World Batteries, Inc., which is referred to as NWB, or we, was formed as a
British Columbia, Canada corporation in August of 2004 for the purpose of
commercializing of patents and products developed by Dr. Robert O'Brien relating
to the development of electrochemical technologies that improve the capacity of
rechargeable batteries, capacitance and discharge parameters of supercapacitors,
and the processes of electrorefining, electroplating and electromachining. The
basic science of the technology was discovered, reported in the scientific
literature, and patented during Professor Robert O'Brien's career in
electrochemical research. In September 2004, Dr. Robert O'Brien granted NWB, an
exclusive license to use patents and related technology and research. On April
8, 2007, the Company's Board of Directors resolved that it would no longer carry
on its battery technology business and that pursuant to the Amended Licensing
Agreement of March 30, 2005 all of the Company's right, title and interest in
the licensed technology reverted to Dr. Robert O'Brien.

Upon formation of the corporation, 3,000,000 shares of Class A common stock were
issued to Dr. Robert O'Brien and 1,000,000 shares were issued to Daniel O'Brien
for $4 and in consideration of their efforts in the pre-incorporation
organization of NWB and creation of its business plan.

The founders were also sold the following shares at $0.10 Cdn., per share:
1,000,000 shares to Dr. Robert O'Brien; 1,000,000 shares to Daniel O'Brien;
1,000,000 shares to George Devlin and 500,000 shares to Dr. Patrick O'Brien,
totaling $350,000 Cdn.

By private placement closed on October 31, 2004, NWB sold 1,075,172 shares of
common stock at $0.25 per share raising a total of $268,793. In January 2005, an
additional 60,000 shares were sold at $0.25 per share raising a total of
$15,000.

On April 8, 2007 the Company distributed $181,627 US ($224,000 CN) of its cash
reserves to its shareholders as a return of capital on a pro rata basis of sixty
four percent of the amount originally invested.


B.   Business Overview

As of the date of this filing, NWB has no operations or planned operations. The
Board of Directors has decided to maintain the company's existence and its
Securities Exchange Act of 1934 registration while seeking out other business
opportunities. Reorganization with a privately held company seeking to utilize
NWB's status as a reporting company will be considered and if such a
reorganization is entered into a change in control of NWB is probable. Such
reorganization would in most circumstances require substantial disclosure in
subsequent SEC filings regarding the reorganization and the privately held
company.


                                       6
<PAGE>

Operations and Principal Activities

As of the date of this filing, NWB has no operations or planned operations. The
Board of Directors has decided to maintain the company's existence and its
Securities Exchange Act of 1934 registration while seeking out other business
opportunities. Reorganization with a privately held company seeking to utilize
NWB's status as a reporting company will be considered and if such a
reorganization is entered into a change in control of NWB is probable. Such As
of the date of this filing, NWB has no operations or planned operations. The
Board of Directors has decided to maintain the company's existence and its
Securities Exchange Act of 1934 registration while seeking out other business
opportunities. Reorganization with a privately held company seeking to utilize
NWB's status as a reporting company will be considered and if such a
reorganization is entered into a change in control of NWB is probable. Such
reorganization would in most circumstances require substantial disclosure in
subsequent SEC filings regarding the reorganization and the privately held
company.

Competition

NWB believes there are numerous other "shell companies" available for
reorganization at any given time. Competition for reorganization candidates
depends primarily upon the personal contacts to shell company management.

Government Regulations and Legal Uncertainties

A rorganization with a privately held company seeking to utilize NWB's status as
a reporting company will likely result in a change in control of NWB. Such
reorganization would in most circumstances require substantial disclosure in
subsequent SEC filings regarding the reorganization and the privately held
company.

Employees

As of December 31, 2006 and August 7, 2007, NWB only has one employee, its
president, Patrick O'Brien.

C.   Organizational Structure NA

D.   Property, Plants and Equipment

NWB rents its office facility located at the residence of its President in Maple
Ridge, BC, Canada. A monthly fee of $300.00 is paid as rent for the office which
includes internet cable, fax line, and utilities. No fees are paid for the use
of computer equipment, or officer vehicle within normal reasonable use.

Item 5.  Operating and Financial Review and Prospects

Except for the historical information contained herein, the following discussion
contains forward-looking statements that are subject to risks and uncertainties.
Actual results may differ substantially from those referred to herein due to a
number of factors, including but not limited to risks described in the sections
entitled Risk Factors, Competition and elsewhere in this registration statement.


                                       7
<PAGE>
Operating Results

     As NWB was formed in August 2004 and its operations to date have only been
its organization and an initial private placement of securities, NWB has not had
any revenues. NWB does not anticipate that inflation or currency exchange
fluctuations in either the United States or Canada will have any significant
impact on its operating results. NWB also does not believe that any governmental
economic, fiscal, monetary or political policies or factors have materially
affected or could materially affect, directly or indirectly NWB's operations or
investments by host country shareholders.


Liquidity and Capital Resources

     At present, NWB is not producing revenues and its main source of funds has
been the sale of its equity securities. NWB had $173,790 Cdn., in cash and
$300,602 Cdn., in short term investments as of December 31, 2005 compared to
$493,074 Cdn., in cash and $0 Cdn., in short term investments as of December 31,
2006. On April 8, 2007 the Company distributed $181,627 US ($224,000 CN) of its
cash reserves to its shareholders as a return of capital on a pro rata basis of
sixty four percent of the amount originally invested. It anticipates that the
remaining cash will be sufficient for at least twenty-four months.


Research and Development

     NWB is not currently engaged in any research and development activity.


Trend Information

     Due the lack of operating history and revenue, NWB is unable to identify
any trends in its operations.

Off  Balance  Sheet  Arrangements

     NWB's liquidity is not dependent upon off balance sheet transactions. For
the period ended December 31, 2006 NWB did not engage in any off balance sheet
transactions.


Contractual Obligations

     For the period ended December 31, 2006 and as of May 19, 2006, NWB had no
contractual obligations other than its employment agreement with its president.


                                       8
<PAGE>


Item 6.    Directors, Senior Management and Employees

     The Directors and Executive Officers of New World Batteries, Inc., are as
follows:

Name                         Age   Position/Function
--------------------------------------------------------------------------------
Dr. Patrick O'Brien          43    President, Chief Executive Officer
                                   Chief Financial Officer, Treasurer, Director

Dr. Robert O'Brien           85    Chief Science Officer, Director

Daniel O'Brien               50    Director

George Devlin                67    Secretary, Director

     The directors serve until their successors are elected by the shareholders.
Vacancies on the board of directors may be filled by appointment by the majority
of the continuing directors.

Business Experience

Dr. Patrick O'Brien:
--------------------
Dr. Patrick O'Brien is President, CEO and a Director of NWB. His
responsibilities include coordinating strategy, planning, and product
development. Dr. O'Brien devotes substantial time to the affairs of NWB, though
he continues to practice veterinary medicine on an occasional basis. Dr. O'Brien
studied at the University of Victoria in the Chemistry Department for the first
two years of the Honors Chemistry Program and was awarded numerous scholarships
including the medal for the top student in the program in 1983. Due to his high
grade point average and related experience, he was fast tracked into the Western
College of Veterinary Medicine, graduating with distinction in 1987(at the age
of 24). In 2003, Dr. Patrick O'Brien sold his very successful large animal
practice in Courtenay, BC, which he founded in 1992.

Professor Robert N. O'Brien:
----------------------------
 Dr. Robert O'Brien is a member of NWB's Board of Directors and Chief Science
Officer. Dr. O'Brien received his Bachelor of Applied Science in Chemical
Engineering from the University of British Columbia in 1951; his Masters of
Applied Science in Metallurgical Engineering from the University of British
Columbia in 1952; his PhD in Metallurgy from the University of Manchester in
1955.; and was a Post Doctoral Fellow in Pure Chemistry at the National Science
Council from 1955 through 1957. He has held various academic positions since
1957 at the University of Alberta, the University of California at Berkeley, and
the University of Victoria. Most recently, he was Professor of Chemistry at the
University of Victoria from 1968 to 1986 at which time he was given the
designation of Professor Emeritus. While teaching and conducting applied and
primary research, Dr. O'Brien acted as a consultant and served on the British
Columbia Research Council. In 1987, Dr. O'Brien founded the Vancouver Island
Advanced Technology and Research Association.

                                       9
<PAGE>
Mr George Devlin:
-----------------
Mr Devlin is a member of the NWB's Board of Directors. Mr Devlin was a peace
officer, R.C.M.P. from 1959 until his honorable discharge in 1963. He was a
founding shareholder and managing director of the Concord Group of
Companies-Concord Credits, Concord Holdings, Concord Realty, and Concord
Development Corporation in Victoria BC from 1964 to 1970. In 1971, Mr Devlin
developed the internationally acclaimed tourist attraction "Miniature World" in
the Humboldt wing of the Empress Hotel. This attraction entertains over 200,000
visitors per year. Mr Devlin organized and founded the Victoria Attractions
Association and as chairman for 12 years he organized the highly successful
"Hometown Tourist Weekend." In this ongoing program local residents purchase
deeply discounted tickets to leading attractions just before the spring tourist
season, leading to significant word of mouth advertising for participating
tourist businesses. Mr Devlin has also been a Director of Tourism Victoria; a
Governor of St. Michaels University School, Victoria BC; a member, Board of
Trustees, Maritime Museum, Victoria, BC; and a Police Commissioner, Esquimalt
Police Board.


Daniel B. O'Brien:
------------------
Mr. O'Brien is the President and CEO of Flexible Solutions International Inc
(FSI) since its inception in 1998 and of the predecessor company Flexible
Solutions Ltd since incorporation in 1990. FSI is publicly traded on the
American stock exchange (FSI-A). Its business is developing, manufacturing and
selling evaporation and energy conservation products for the drinking water and
swimming pool markets throughout the world. Prior to FSI, and concurrent with
the early years of operation, Mr. O'Brien was the director of Outdoor Education
at Brentwood College. He has also taught industrial design and small business
operations at Northern Lights College, run his own construction and kayak
building businesses, worked with juvenile offenders in "Outward Bound" style
programs and taught industrial arts at the high school level. Mr. O'Brien has a
Batchelor of Industrial Education degree from the University of British
Columbia. From 1976 to 1985 he was a member of the BC whitewater kayaking team,
in 1983 and 84 he was a member of the Canadian National Whitewater team and in
1983, the national champion in the C-1 division.


Family Relationships

Dr. Patrick O'Brien, the President/CEO and a Director, is the son of Dr. Robert
O'Brien, a Director and greater than 10% shareholder. Daniel O'Brien, Director
and greater than 10% shareholder, is also the son of Dr. Robert O'Brien and
brother of Dr. Patrick O'Brien. Other than that, there are no relationships
between any of the Officers or Directors of NWB.


Executive Compensation

NWB has a formal plan for compensating its directors for their service in their
capacity as directors. The following options to acquire common shares have been
granted:

         Dr. Patrick O'Brien            200,000 Shares per year
         Dr. Robert O'Brien              50,000 Shares per year
         Daniel O'Brien                   5,000 Shares per year
         George Devlin                    5,000 Shares per year

The first and second year options vested April 15, 2005 and 2006, and subsequent
options will vest upon the anniversary of the grant date and are subject to
shareholder approval at the annual general meeting. The exercise price for the
first year's grant is $ 0.10 Cdn., per share. The exercise price for the second
year options was also $0.10 Cdn., per share. The exercise price for subsequent
annual grants will be determined by the board of directors as the fair market
value of the common stock at or about the anniversary date.


                                       10
<PAGE>
Directors are entitled to reimbursement for reasonable travel and other out-of-
pocket expenses incurred in connection with attendance at meetings of the board
of directors. The board of directors may award special remuneration to any
director undertaking any special services on behalf of NWB other than services
ordinarily required of a director. NWB has no other stock option plan or other
long-term compensation program.

Dr. Patrick O'Brien receives a salary of $40,000.00 Cdn., per annum and is also
a reimbursed for reasonable expenses. Dr. P. O'Brien has been granted stock
options vesting annually over the next five years in the amount of two hundred
thousand per year dependant on his continued service as President and CEO of
NWB.

NWB has no plans or arrangements in respect of remuneration received or that may
be received by executive officers of NWB in Fiscal 2005 to compensate such
officers in the event of termination of employment, as a result of resignation,
retirement, change of control or a change of responsibilities following a change
of control.


Board Practices

Committees: Meetings of the Board

NWB does not have a separate compensation committee, audit committee or
nominating committee. These functions are done by the board of directors meeting
as a whole. NWB 's board of directors held two meetings during the fiscal year
ended December 31, 2004 at which all directors were present either in person or
by telephonic conference call. Corporate actions by the Board of Directors were
unanimously also consented to in writing after telephone discussion.

Audit Committee

The board of directors has not yet established an audit committee. The functions
of the audit committee are currently performed by the entire board of directors.
NWB is under no legal obligation to establish an audit committee and has elected
not to do so at this time so as to avoid the time and expense of identifying
independent directors willing to serve on the audit committee. NWB may establish
an audit committee in the future if the board determines it to be advisable or
is otherwise required to do so by applicable law, rule or regulation.


                                       11
<PAGE>
Board of Directors Independence

Only one of NWB's directors, George Devlin is "independent" within the meaning
of definitions established by the Securities and Exchange Commission or any
self-regulatory organization. NWB is not currently subject to any law, rule or
regulation requiring that all or any portion of its board of directors include
"independent" directors.


Code of Ethics

Under the Sarbanes-Oxley Act of 2002 and the Securities and Exchange
Commission's related rules, NWB is required to disclose whether it has adopted a
code of ethics that applies to NWB's principal executive officer, principal
financial officer, principal accounting officer or controller or persons
performing similar functions. NWB has adopted a code of ethics that applies to
its chief executive officer, chief financial officer and other officers, legal
counsel and to any person performing similar functions. NWB has made the code of
ethics available and intends to provide disclosure of any amendments or waivers
of the code within five business days after an amendment or waiver on its
website, www.newworldbatteries.com.

Compliance with Section 16(a) of Securities Exchange Act of 1934

To our knowledge, during the fiscal year ended December 31, 2006, our current
directors and officers complied with all applicable Section 16(a) filing
requirements. This statement is based solely on a review of the copies of such
reports that reflect all reportable transactions furnished to us by our
directors and officers and their written representations that such reports
accurately reflect all reportable transactions.

Employees

As of August 7, 2007, NWB only had one employee, its president, Dr. Patrick
O'Brien.



                                       12
<PAGE>



Share Ownership of Directors and Officers

The following table sets forth information, as of August 7, 2007, with respect
to the beneficial ownership of NWB's common stock by the officers and directors
of NWB based on 8,635,173 shares of common stock outstanding. The amounts shown
includes outstanding options to acquire up to 520,000 shares common stock
granted to the Officers and Directors which are currently vested and
exercisable.
<TABLE>
<CAPTION>

Name                       Title                           Common Stock              Percentage of Shares
                                                           Ownership                 Outstanding
---------------------      -------------------------       ---------------------     ------------------------
<S>                        <C>                                   <C>                        <C>
Patrick O'Brien            President, CEO, CFO, Director         900,000                    10%

Robert O'Brien             Chief Science Officer, Director     4,100,000                    47%

Daniel O'Brien             Director                            2,010,000                    23%

George Devlin              Secretary, Director                 1,010,000                    12 %

Directors and Officers as a Group
(four individuals)                                             8,020,000                    92%
</TABLE>



Item 7.  Major Shareholders and Related Party Transactions

NWB does not have any shareholders other than its directors and officers who
hold or have the right to acquire five percent or greater of the outstanding
shares of common stock.


Related Party Transactions

Since inception in August 2004, NWB has entered into the following transactions
with related parties:

In September 2004 Dr. Robert O'Brien licensed certain patents and research to
NWB for which Dr. Robert O'Brien. Dr. Robert O'Brien was also issued 3,000,000
shares of common stock for $3 in consideration of his efforts in the
pre-incorporation organization of NWB and creation of its business plan.. Also
in September 2004, Daniel O'Brien was issued 1,000,000 shares of common stock
for $1 in consideration of his efforts in the pre-incorporation organization of
NWB and creation of its business plan.; and

Upon incorporation, on August 30, 2004, NWB sold 1,000,000 shares to Dr. Robert
O'Brien; 1,000,000 shares to Daniel O'Brien; 1,000,000 shares to George Devlin
and 500,000 shares to Dr. Patrick O'Brien at $0.10 Cdn., per share for total
consideration of $350,000 Cdn.

There were no related party transactions during the fiscal year ended December
31, 2006.



                                       13
<PAGE>



Item 8.  Financial Information

A.       The following financial statements are filed with this Form 20-F
         Registration Statement

         Balance Sheet for the period January 1, 2006 to December 31, 2006

         Statement of Loss and Deficit

         Statement of Stockholders Equity

         Statement of Cash Flows

         Notes to Financial Statements.

B.       Significant Changes

     There have not been any significant changes since the date of the financial
statements included in this Form 20-F Registration Statement


Item 9. The Offer and Listing

A.1-3    Offer and listing details  NA

A.4      Price History

There is currently no market for the common stock of NWB and as a result
investors may experience a lack of liquidity in the shares. 1,075,172 shares
common stock were sold by NWB in a private placement closing on October 31, 2004
at $0.25 per share. In August 2004, 3,500,000 shares were sold to three of NWB's
directors at $0.10 Cdn., per share.

A.5      Description of Securities

The authorized capital of NWB is an unlimited number of shares of common stock
which may be issued as Class A, Class B, Class C and Class D common stock. The
Class A and Class C common stock have no par value and the Class B and Class D
common stock have a par value of $0.01 per share. As of May 19, 2006 only Class
A common stock is outstanding.

All shares of the NWB's Class A common stock have equal voting rights, with one
vote per share, on all matters submitted to the stockholders for their
consideration. The shares of Class A common stock do not have cumulative voting
rights. Subject to the prior rights of the holders of any series of Class D
common stock that may be issued, holders of Class A common stock are entitled to
receive dividends, when and if declared by the board of directors, out of funds
legally available.

Holders of shares of Class A common stock do not have any preemptive rights or
other rights to subscribe for additional shares, or any conversion rights. Upon
a liquidation, dissolution, or winding up of the affairs of NWB, holders of the
Class A common stock will be entitled to share ratably in the assets available
for distribution to such stockholders after the payment of all liabilities and
after the liquidation preference of any Class D stock outstanding at the time.
There are no sinking fund provisions applicable to the common stock.


                                       14
<PAGE>
Class B common stock, of which there are no shares outstanding as of May 19,
2006 are identical to the Class A common stock except for the $0.01 par value.

Class C common stock, of which there are no shares outstanding as of May 19,
2006 are identical to Class A common stock with respect to distributions or upon
liquidation but are non-voting shares.

Class D common stock, of which there are no shares outstanding as of May 19,
2006, may be issued in one or more series by resolution of the board of
directors to create, define and attach special rights and restrictions to the
Class D Shares of that series, including, but without in any way limiting or
restricting the generality of the foregoing, the rate or amount of dividends,
whether cumulative, non-cumulative or partially cumulative, the dates, places
and currencies of payment thereof, the consideration for, and the terms and
conditions of any purchase for cancellation or redemption thereof, including
redemption after a fixed term or at a premium, conversion or exchange rights,
the terms and conditions of any share purchase plan or sinking fund, the
restrictions respecting payment of dividends on, or the repayment of capital in
respect of any other shares of the Company and voting rights and restrictions.
The ability of the board of directors to set the rights and preferences of the
Class D common stock is limited in that the Class D common stock cannot vote
with the Class A or Class B common stock.


Restrictions on Transfer of Shares of Common Stock

So long as NWB is required to file annual, quarterly and other reports with the
U.S. Securities and Exchange Commission, NWB does not impose any restrictions on
the transfer of its common stock except as required by law. However, NWB's
Articles of Incorporation provide that if NWB is not publicly held or a
reporting company, its common stock cannot be transferred without the consent of
the board of directors. In addition, if NWB is not publicly held or a reporting
company, the articles of incorporation provide that any shareholder proposing to
sell all or part of their shares common stock for valuable consideration, must
notify NWB of said proposed sale and NWB must then notify all of its
shareholders of said proposed sale and provide a twenty eight day period in
which other NWB shareholder may pro rata purchase the offered shares at the
proposed terms. If the shares are not taken by the other NWB shareholders, the
selling shareholder shall have ninety days from the end of the twenty eight day
right of first refusal period to sell their shares at the proposed price.


Market for NWB's Common Stock

NWB's common stock is not presently listed for trading on any exchange nor over
the counter market.

Item 10.  Additional Information.

A.   Share Capital

As of fiscal year ended December 31, 2006 and as of August 7, 2007, the
authorized capital of NWB is an unlimited number of shares of common stock which
may be issued as Class A (no par value), Class B ($0.01 par value), Class C (no
par value) and Class D ($0.01 par value) common stock.


                                       15
<PAGE>
As of fiscal year ended December 31, 2006 and as of August 7, 2007 there are
8,635,172 shares Class A common stock outstanding. No other class of common
stock is currently outstanding.

All of the outstanding shares have been fully paid and are non-assessable. And
there are no shares outstanding which are not fully paid.

In September 2004, 3,000,000 shares were issued to Dr. Robert O'Brien and
1,000,000 shares were issued to Daniel O'Brien in consideration of the
assignment of patents and technology rights.

No shares are held by or on behalf of NWB.

There are no outstanding options, warrants, obligations convertible into NWB
common stock or resolutions to issue additional common stock as of May 19, 2006
other than the options to acquire up to 520,000 shares shown above in Executive
Compensation, page 16 and an option to acquire up to 20,200 shares at $0.30
Cdn., per share granted to a third party consultant.


B.   Memorandum and Articles of Incorporation

NWB is a British Columbia corporation, incorporation number BC0703052. NWB was
formed for the commercialization of patents and technology licensed to it by Dr.
Robert O'Brien.

Pursuant to Article 17 of the NWB Articles of Incorporation, a director is not
entitled to vote upon a proposal, arrangement or contract in which the director
is materially interested.

Pursuant to Article 13 of the NWB Articles of Incorporation, there are no
restrictions on a directors' power in the absence of an independent quorum, to
vote compensation to themselves or any member of the board of directors.

Pursuant to Article 8 of the NWB Articles of Incorporation, when authorized by
the directors, NWB may:

(1)  borrow money in the manner and amount, on the security, from the sources
     and on the terms and conditions that they consider appropriate;

(2)  issue bonds, debentures and other debt obligations either outright or as
     security for any liability or obligation of NWB or any other person and at
     such discounts or premiums and on such other terms as they consider
     appropriate;

(3)  guarantee the repayment of money by any other person or the performance of
     any obligation of any other person; and

(4)  mortgage, charge, whether by way of specific or floating charge, grant a
     security interest in, or give other security on, the whole or any part of
     the present and future assets and undertaking of NWB.


                                       16
<PAGE>
Pursuant to Article 13 and Article 14 of the NWB Articles of Incorporation,
there is no age limit on directors and there is no requirement that directors
own any shares of common stock in NWB.

All shares of the NWB's Class A common stock have equal voting rights, with one
vote per share, on all matters submitted to the stockholders for their
consideration. The shares of Class A common stock do not have cumulative voting
rights. Subject to the prior rights of the holders of any series of Class D
common stock that may be issued, holders of Class A common stock are entitled to
receive dividends, when and if declared by the board of directors, out of funds
legally available.

Holders of shares of Class A common stock do not have any preemptive rights or
other rights to subscribe for additional shares, or any conversion rights. Upon
a liquidation, dissolution, or winding up of the affairs of NWB, holders of the
Class A common stock will be entitled to share ratably in the assets available
for distribution to such stockholders after the payment of all liabilities and
after the liquidation preference of any Class D stock outstanding at the time.
There are no sinking fund provisions applicable to the common stock.

Class B common stock, of which there are no shares outstanding as of May 19,
2006 are identical to the Class A common stock except for the $0.01 par value.

Class C common stock, of which there are no shares outstanding as of May 19,
2006 are identical to Class A common stock with respect to distributions or upon
liquidation but are non-voting shares.

Class D common stock, of which there are no shares outstanding as of May 19,
2006, may be issued in one or more series by resolution of the board of
directors to create, define and attach special rights and restrictions to the
Class D Shares of that series, including, but without in any way limiting or
restricting the generality of the foregoing, the rate or amount of dividends,
whether cumulative, non-cumulative or partially cumulative, the dates, places
and currencies of payment thereof, the consideration for, and the terms and
conditions of any purchase for cancellation or redemption thereof, including
redemption after a fixed term or at a premium, conversion or exchange rights,
the terms and conditions of any share purchase plan or sinking fund, the
restrictions respecting payment of dividends on, or the repayment of capital in
respect of any other shares of the Company and voting rights and restrictions.
The ability of the board of directors to set the rights and preferences of the
Class D common stock is limited in that the Class D common stock cannot vote
with the Class A or Class B common stock.

The NWB Articles of Incorporation have no redemption provisions, sinking fund
provisions, liability to further capital calls or any provisions discriminating
against any existing or prospective holder of NWB common stock as a result of
such shareholder owning a substantial number of shares.

Changes to the rights of holders of stock can only be accomplished by the vote
of a majority of the class of common stock entitled vote at a meeting duly
called and held in accordance with the British Columbia Corporations Act. The
NWB Articles of Incorporation impose no conditions more significant than
required by law.

                                       17
<PAGE>
Unless an annual general meeting is deferred or waived in accordance with the
British Columbia Business Corporations Act, NWB must hold its first annual
general meeting on or before February 4, 2006 being within 18 months of the date
of incorporation, and after that must hold an annual general meeting at least
once in each calendar year and not more than 15 months after the last annual
reference date at such time and place as may be determined by the directors.
Extraordinary general meeting may be called from time to time by the board of
directors. The record date for annual and extraordinary meetings shall be not
less than 21 days prior to the meeting date if NWB is a publicly held
corporation, otherwise not less than 10 days and not more than two months prior
to the meeting date if called by the directors or, in the case of a general
meeting requisitioned by shareholders under the Business Corporations Act, by
more than four months.

The quorum for the transaction of business at a meeting of shareholders is two
persons who are, or who represent by proxy, shareholders who, in the aggregate,
hold at least 5% of the issued shares entitled to be voted at the meeting.

The majority of votes required for NWB to pass a special resolution regarding
Special Business at a meeting of shareholders is two-thirds of the votes cast on
the resolution. Special Business is defined by Article 11.1 of the NWB Articles
of Incorporation as all business conducted at a meeting of shareholders that is
not an annual general meeting, except business relating to the conduct of or
voting at the meeting. At an annual meeting of shareholders all business is
special business except:


     (a)  business relating to the conduct of or voting at the meeting;
     (b)  consideration of any financial statements of NWB presented to the
          meeting;
     (c)  consideration of any reports of the directors or auditor;
     (d)  the setting or changing of the number of directors;
     (e)  the election or appointment of directors;
     (f)  the appointment of an auditor;
     (g)  the setting of the remuneration of an auditor;
     (h)  business arising out of a report of the directors not requiring the
          passing of a special resolution or an exceptional resolution;
     (i)  any other business which, under the Articles or the Business
          Corporations Act, may be transacted at a meeting of shareholders
          without prior notice of the business being given to the shareholders.

The NWB Articles of Incorporation and the British Columbia Business Corporation
Act impose no limitations on the rights of non-residents or foreign shareholders
to own NWB common stock or to hold or exercise voting rights of NWB shares.

Except as requiring a vote of the board of directors and the NWB shareholders,
the NWB Articles of Incorporation do not contain any provision that would delay,
defer or prevent a change in control of NWB or that would operate with respect
to a merger, acquisition or corporate restructuring.

The NWB Articles do not state any threshold above which shareholder ownership
must be disclosed.

                                       18
<PAGE>


C.   Material Contracts

As of August 7, 2007, NWB had no material contracts.

D.   Exchange Controls

Neither British Columbia nor the Canadian Federal Government have any laws,
decrees, regulations or legislation which may affect the import or export of
capital by NWB or the remittance of dividends, interest or other payments to
non-resident holders of NWB securities except that income tax withholding
described below.

E.   Taxation

Canadian Federal Income Tax Considerations

The following summary of the material Canadian federal income tax consequences
is based upon the provisions of the Income Tax Act of Canada and the
regulations thereunder (the "Tax Act") and the Canada-United States Tax
Convention (the "Tax Convention")) as at the date of this Statement. The
summary is restricted to the case of a holder (a "Holder") of one or more
common shares of NWB ("Common Shares") who for the purposes of the Tax Act is a
non-resident of Canada, is a United States person, holds his Common Shares as
capital property and deals at arm's length with NWB.

Dividends.    A holder will be subject to Canadian withholding tax ("Part XIII
Tax") equal to 25%, or such lower rates as may be applicable, of the gross
amount of any dividend paid or deemed to be paid on his Common Shares. Under
the Tax Convention, the rate of Part XIII Tax applicable to a dividend on
Common Shares paid to a Holder who is a resident of the United States is, if
the Holder is a company that beneficially owns at least 10% of the voting stock
of NWB, 5% and, in any other case, 15% of the gross amount of the dividend. NWB
will be required to withhold the applicable amount of Tax from each dividend
paid and remit it to the Receiver General for Canada for the account of the
Holder.

Disposition of Common Shares.    A holder who disposes of common shares,
including by deemed disposition on death, will not be subject to Canadian tax on
any capital gain thereby realized unless the common shares constituted "taxable
Canadian property" as defined by the Tax Act. Generally, a common share of a
public corporation will not constitute taxable Canadian property of a Holder
unless he held the common share as capital property used by him carrying on a
business in Canada, or he or persons with whom he did not deal at arm's length
alone or together held or held options to acquire, at any time within the 60
months preceding the disposition, 25% or more of the issued shares of any class
of the capital stock of the company.

A Holder who is a resident of the United States and realizes a capital gain on
disposition of Common Shares that was taxable Canadian property will
nevertheless, by virtue of the Treaty, generally be exempt from Canadian tax
unless (a) more than 50% of the value of the Common Shares is derived from, or
from an interest in, Canadian real estate, including Canadian mineral resources
properties, (b) the Common Shares formed part of the business property of a
permanent establishment that the Holder has or had in Canada within the 12
months preceding disposition, or (c) the Holder (i) was a resident of Canada at
any time within the 10 years immediately preceding the disposition, and for a
total of 120 months during any period of 20 consecutive years, preceding the
disposition, and (ii) owned the Common Shares when he ceased to be resident in
Canada.


                                       19
<PAGE>
A Holder who is subject to Canadian tax in respect of a capital gain realized
on disposition of Common Shares must include one-half of the capital gain
("taxable capital gain") in computing his taxable income earned in Canada,
subject to the deduction of certain capital losses that may have been sustained
by the Holder.

United States Taxation

For federal income tax purposes, an individual who is a citizen or resident of
the United States or a domestic corporation ("U.S. Taxpayer") will recognize a
gain or loss on the sale of the Company's shares equal to the difference
between the proceeds from such sale and the adjusted tax basis of the shares.
The gain or loss will be a capital gain or capital loss if the Company's shares
are a capital asset in the hands of the U.S. Taxpayer.

For federal income tax purposes, a U.S. Taxpayer will be required to include in
gross income dividends received on the Company's shares. A U.S. Taxpayer who
pays Canadian tax on a dividend on shares will be entitled, subject to certain
limitations, to a credit (or alternatively, a deduction) against federal income
tax liability. A domestic corporation that owns at least 10% of the voting
shares of the Company should consult its tax advisor as to applicability of the
deemed paid foreign tax credit with respect to dividends paid on the Company's
shares.

Under a number of circumstances, a U.S. Taxpayer acquiring shares of the
Company may be required to file an information return with the Internal Revenue
Service Centre where they are required to file their tax returns with a
duplicate copy to the Internal Revenue Service Centre, Philadelphia, PA 19255.
In particular, any United States Taxpayer who becomes the owner, directly or
indirectly, of 10% or more of the shares of the Company will be required to
file such a return. Other filing requirements may apply. Holders and
prospective holders should therefore consult their own tax advisors with
respect to their particular circumstances and the requirements applicable to
them.

There may be a possibility of the Company being deemed, for United States tax
purposes, a Foreign Personal Holding Company, a Foreign Investment Company, a
Passive Foreign Investment Company or a Controlled Foreign Corporation. If that
should happen, U.S. Taxpayers holding or selling Company Shares, or receiving
dividends on Company Shares, will be subject to U.S. taxation at possibly
adverse or higher rates and under a system that may be complicated and
unfamiliar to them.


                                       20
<PAGE>
F.   Dividends and paying agents

NWB has not declared any dividends and does not have any restrictions on the
payment of dividends. NWB does not have any procedures for non-resident holders
to claim dividends and has not identified any financial institutions as paying
agents for dividends.

G.   Statements by Experts

No statements or reports attributed to a person as an expert is included in this
registration statement.

H.   Documents on display

Any of the documents referred to above can be viewed at the NWB's Registered
Office, which is located at 11718-232B Street, Maple Ridge BC, Canada V2X 7Z2.
All of the documents referred to above are in English.

Item 11. Quantitative and Qualitative Disclosures About Market Risk

(a)  The Company is not presently involved in borrowing money and does not have
     any dealings in, nor plan to have any dealings in, derivatives or other
     financial instruments, and does not carry on business which makes it
     specifically sensitive to currency exchange variations. If and when the
     Company borrows money it will have to consider the interest rates that
     would then be applicable to it.

(b)  As the Company is only still in a "start-up" mode and has undertaken no
     business activities or the sale of its products or services, it is not in a
     position to do any quantitative analysis of either general risk factors
     applicable to it or risk factors applicable to its potential markets.

(c)  The Company has identified risk factors that are applicable to it, which
     are described in Item 3.D above.



                                     Part II

Item 13. Defaults, Dividend Arrearages and Delinquencies.    None

Item 14. Material Modifications to the Rights of Security Holders and
         Use of Proceeds.       None

Item 15. Controls and Procedures.

The Company maintains disclosure controls and procedures that are designed to
ensure that information required to be disclosed in the Company's Exchange Act
reports is recorded, processed, summarized and reported within the time periods
specified in the SEC's rules and forms, and that such information is accumulated
and communicated to the Company's management, including its Chief Executive
Officer and Chief Financial Officer, as appropriate, to allow timely decisions
regarding required disclosure based closely on the definition of "disclosure
controls and procedures" in Rule 13a-14(c). The Company's disclosure controls
and procedures are designed to provide a reasonable level of assurance of
reaching the Company's desired disclosure control objectives. In designing and
evaluating the disclosure controls and procedures, management recognized that
any controls and procedures, no matter how well designed and operated, can
provide only reasonable assurance of achieving the desired control objectives,
and management necessarily was required to apply its judgment in evaluating the
cost-benefit relationship of possible controls and procedures. The Company's
certifying officer has concluded that the Company's disclosure controls and
procedures are effective in reaching that level of assurance.


                                       21
<PAGE>
As of the end of the period of this report, the Company carried out an
evaluation, under the supervision and with the participation of the Company's
management, including the Company's Chief Executive Officer and the Company's
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures. Based on the foregoing, the
Company's Chief Executive Officer and Chief Financial Officer concluded that
theCompany's disclosure controls and procedures were effective.

There have been no significant changes in the Company's internal controls or in
other factors that could significantly affect the internal controls subsequent
to the date the Company completed its evaluation.


Item 16A. Audit committee financial expert.

The board of directors has not yet established an audit committee. The functions
of the audit committee are currently performed by the entire board of directors.
As NWB is not listed for trading on any exchange or market requiring an audit
committee, it is under no legal obligation to establish an audit committee and
has elected not to do so at this time. NWB has not done so because of the
Company's limited financial transactions and so as to avoid the time and expense
of identifying independent directors willing to serve on the audit committee.
NWB may establish an audit committee in the future if the board determines it to
be advisable or is otherwise required to do so by applicable law, rule or
regulation. As a result the board of directors does not have an audit committee
financial expert.


Item 16B. Code of Ethics.

NWB has adopted a code of ethics that applies to its chief executive officer,
chief financial officer and other officers, legal counsel and to any person
performing similar functions. NWB has made the code of ethics available and
intends to provide disclosure of any amendments or waivers of the code within
five business days after an amendment or waiver on its website,
www.newworldbatteries.com.


Item 16C. Principal Accountant Fees and Services.

Cinnamon, Jang, Willoughby & Company, Chartered Accountants, are NWB's
independent auditors to examine the financial statements of NWB for the fiscal
year ending December 31, 2005. Cinnamon, Jang, Willoughby & Company, has
performed the following services and has been paid the following fees for these
fiscal years.

Audit Fees

Cinnamon, Jang, Willoughby & Company, was paid aggregate fees of $9,500 for the
fiscal year ended December 31, 2006 and $10,250 for the fiscal year ended
December 31, 2004 for professional services rendered for the audit of the
Company's annual financial statements


                                       22
<PAGE>
Audit -Related Fees

Cinnamon, Jang, Willoughby & Company, was not paid any additional fees for the
fiscal year ended December 31, 2006 and December 31, 2005 for assurance and
related services reasonably related to the performance of the audit or review of
Shannon's financial statements.

Tax Fees

Cinnamon, Jang, Willoughby & Company was paid no fees for the fiscal year ended
December 31, 2006 and no fees for the fiscal year ended December 31, 2005 for
professional services rendered for tax compliance, tax advice and tax planning.

Other Fees

Cinnamon, Jang, Willoughby & Company, was paid no other fees for professional
services during the fiscal years ended December 31, 2006 and December 31, 2005.


Item 16D. Exemptions from the Listing Standards for Audit Committees.  NA


Item 16E. Purchases of Equity Securities by the Issuer and Affiliated
          Purchasers.        None


                                       23
<PAGE>

Part III     Financial Statements






<PAGE>
Item 19. Exhibits

1.   Articles of Incorporation (Incorporated by Reference for Registration
     Statement on Form 20-F filed on February 9, 2005

2.   Instrument defining rights of securities holders (See Section 27 of
     Articles of Incorporation) (Incorporated by Reference for Registration
     Statement on Form 20-F filed on February 9, 2005

11.  Code of Ethics (Incorporated by Reference for Registration Statement on
     Form 20-F filed on February 9, 2005.

12.1 Rule 13a-14a Certification of Chief Executive Officer

12.2 Rule 13a-14a Certification of Chief Financial Officer

13.1 Rule 13a-14b Certification of Chief Executive Officer

13.2 Rule 13a-14b Certification of Chief Financial Officer




                                       24
<PAGE>






                                   SIGNATURES

 The registrant hereby certifies that it meets all of the requirements for
 filing on Form 20-F and that it has duly caused and authorized the undersigned
 to sign this registration statement on its behalf.



                                                     NEW WORLD BATTERIES, INC.





                                                     /s/ PATRICK O'BRIEN
                                                     -------------------
                                                     Patrick O'Brien, President



 Date:   August 7, 2007







                                       25
<PAGE>


                            NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)

                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS



Report of Independent Registered Public Accounting Firm              F-2
Consolidated Balance Sheet                                           F-3
Consolidated Statement of Loss and Deficit                           F-4
Consolidated Statement of Stockholders' Equity                       F-5
Consolidated Statement of Cash Flows                                 F-6
Notes to Consolidated Financial Statements                           F-7







                      -------------------------------------







    HLB Cinnamon Jang Willoughby & Company is a member of HLB International.
      A world-wide organization of accounting firms and business advisors.

                                      F-1
<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholders of New World Batteries, Inc. (A Development Stage
Corporation):

     We have audited the accompanying consolidated balance sheets of New World
Batteries, Inc. (A Development Stage Corporation) as at December 31, 2006 and
2005 and for the period of inception (August 30, 2004) to December 31, 2006, and
the related consolidated statements of loss and deficit, stockholders' equity,
and cash flows for the year then ended. These consolidated financial statements
are the responsibility of the company's management. Our responsibility is to
express an opinion on these consolidated financial statements based on our
audit.

     We conducted our audit in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain reasonable assurance whether the
financial statements are free of material misstatement. The company has
determined that it is not required to have, nor were we engaged to perform, an
audit of its internal control over financial reporting. Our audit included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the company's
internal control over financial reporting. Accordingly, we express no such
opinion. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in these consolidated financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall consolidated financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.

     In our opinion, except as stated below, these consolidated financial
statements present fairly, in all material respects, the consolidated financial
position of New World Batteries, Inc. (A Development Stage Corporation) as at
December 31, 2006 and 2005 and for the period of inception (August 30, 2004) to
December 31, 2006, and the results of its operations and its cash flows for the
years then ended, in conformity with generally accepted accounting principles in
the United States.

     These consolidated financial statements have been prepared assuming the
company will continue as a going concern. As discussed in Note 1 to the
consolidated financial statements, the company has not been able to generate
significant revenues or positive cash flows from operations to date and has an
accumulated deficit of $209,255 (2005 - $165,145). These conditions raise
substantial doubt about the company's ability to continue as a going concern.
Management's plans to rectify the capital deficiency and losses are outlined in
Note 1. The consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.


                                          /s/ Cinnamon Jang Willoughby & Company
                                          --------------------------------------
                                         "Cinnamon Jang Willoughby & Company"

                                          Chartered Accountants

Burnaby, BC, Canada
March 29, 2007



-See accompanying notes-

    HLB Cinnamon Jang Willoughby & Company is a member of HLB International.
      A world-wide organization of accounting firms and business advisors.

                                      F-2
<PAGE>
<TABLE>
<CAPTION>

                            NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)
                           Consolidated Balance Sheet
                                December 31, 2006


Assets                                                                 2006        2005
                                                                    ---------    ---------
<S>                                                                 <C>          <C>
Current:
    Cash                                                            $ 493,074    $ 173,790
    Short-term investments                                                 --      300,602
    Accounts receivable                                                    88          562
    Scientific research investment tax credit recoverable              10,450       64,163
                                                                    ---------    ---------

                                                                    $ 503,612    $ 539,117
                                                                    =========    =========

Liability

Current:
    Accounts payable and accrued liabilities                        $   9,987    $  11,832
                                                                    ---------    ---------

Stockholders' Equity

Capital Stock (Note 5):
    Authorized -
        Unlimited Class A Shares without par value
        Unlimited Class B Shares with a par value of $0.01 each
        Unlimited Class C Shares without par value
        Unlimited Class D Shares with a par value of $0.01 each
    Issued and Fully Paid -
        8,635,173 Class A Shares                                      692,430      692,430
                                                                    ---------    ---------

Deficit                                                              (198,805)    (165,145)
                                                                    ---------    ---------

                                                                      493,625      527,285
                                                                    ---------    ---------

                                                                    $ 503,612    $ 539,117
                                                                    =========    =========
</TABLE>

                           - See accompanying notes -

                                     F-3
<PAGE>
<TABLE>
<CAPTION>

                           NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)
                   Consolidated Statement of Loss and Deficit
                      For the Year Ended December 31, 2006


                                                                     Cumulative
                                                                   Since Inception
                                                                         on
                                                                     August 30,
                                                                        2004
                                                                   to December 31,
                                            2006         2005           2006
                                        -----------   -----------  -----------
<S>                                     <C>           <C>            <C>
Expenses:
    Advertising and promotion           $     2,132   $       394    $     3,468
    Office and miscellaneous                  2,205         3,872          9,555
    Professional fees                        18,899        34,563         65,143
    Rent                                      3,600         3,600         10,800
    Repairs and maintenance                      --           257            257
    Research and development (Note 6)         4,955        24,161         83,587
    Telecommunications                        1,653         1,648          4,646
    Travel                                      408         1,886         14,124
    Wages                                    15,911         4,122         24,312
                                        -----------   -----------    -----------

Loss before other items                      49,763        74,503        215,892
                                        -----------   -----------    -----------

Other Items:
    Interest and other income                14,893        11,222         28,843
    Gain (Loss) on foreign exchange           1,210       (11,160)       (11,756)
                                        -----------   -----------    -----------

                                             16,103            62        (17,087)
                                        -----------   -----------    -----------

Net Loss                                     33,660        74,441        198,805
Deficit, beginning                          165,145        90,704             --
                                        -----------   -----------    -----------

Deficit, ending                         $   198,805   $   165,145    $   198,805
                                        ===========   ===========    ===========

Weighted average number of shares         8,635,173     8,630,077      8,635,173
                                        ===========   ===========    ===========

Loss per share                          $      0.01   $      0.01    $      0.02
                                        ===========   ===========    ===========
</TABLE>


                           - See accompanying notes -

                                     F-4



<PAGE>
                            NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)
                 Consolidated Statement of Stockholders' Equity
                     For the Year Ended to December 31, 2006


                                   Number
                                 of Shares     Amount     Deficit       Total
                                 ---------   ---------   ---------    ---------

Balance December 31, 2004        8,575,173   $ 674,051   $ (90,704)   $ 583,347
Shares Issued (Note 5):
  For Cash -
      Private placement             60,000      18,379          --       18,379
Net Loss                                --          --     (74,441)     (74,441)
                                 ---------   ---------   ---------    ---------

Balance December 31, 2005        8,635,173     692,430    (165,145)     527,285
Net Loss                                --          --     (33,660)     (33,660)
                                 ---------   ---------   ---------    ---------

Balance, December 31, 2006       8,635,173   $ 692,430   $(198,805)   $ 493,625
                                 =========   =========   =========    =========




                           - See accompanying notes -
                                       F-5


<PAGE>
<TABLE>
<CAPTION>


                            NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)
                      Consolidated Statement of Cash Flows
                      For the Year Ended December 31, 2006


                                                                                          Cumulative
                                                                                        Since Inception
                                                                                              on
                                                                                          August 30,
                                                                                             2004
                                                                                        to December 31,
                                                                   2006         2005         2006
                                                                ---------    ---------    ---------
<S>                                                             <C>          <C>          <C>
Operating Activities:
    Net Loss                                                    $ (33,660)   $ (74,441)   $(198,805)
    Changes in non-cash working capital -
        (Increase) Decrease in accounts receivable                    474          195          (88)
        (Increase) Decrease in scientific research investment
             tax credit recoverable                                53,713      (30,974)     (10,450)
        (Increase) Decrease in prepaid expenses                        --        5,649           --
        Increase (Decrease) in accounts payable and
             accrued liabilities                                   (1,845)       6,332        9,987
                                                                ---------    ---------    ---------

Cash flows (used in) operating activities                          18,682      (93,239)    (199,356)

Investing Activity:
    Disposition (Acquisition) of short-term investments           300,602     (160,698)          --

Financing Activity:
    Issuance of capital stock                                          --       18,379      692,430
                                                                ---------    ---------    ---------

Net Increase (Decrease) in Cash                                   319,284     (235,558)     493,074
Cash, beginning                                                   173,790      409,348           --
                                                                ---------    ---------    ---------

Cash, ending                                                    $ 493,074    $ 173,790    $ 493,074
                                                                =========    =========    =========
</TABLE>




                           - See accompanying notes -
                                       F-6




<PAGE>
                            NEW WORLD BATTERIES, INC.
                        (A Development Stage Corporation)
                   Notes to Consolidated Financial Statements
                                December 31, 2006


1.   Basis of Presentation:

     These consolidated financial statements include the accounts of New World
     Batteries, Inc., and its wholly-owned subsidiary 217304 B.C. Ltd. All
     material inter-company balances and transactions have been eliminated. The
     parent company was incorporated on August 30, 2004 pursuant to the laws of
     British Columbia.

     On August 30, 2004 the company completed an acquisition of 100% of the
     shares of 217304 B.C. Ltd. The acquisition was effected through the
     issuance of 1 share of common stock by the company. 217304 B.C. Ltd. is an
     inactive company.

     The consolidated financial statements have been prepared on the basis of a
     going concern, which contemplates the realization of assets and
     satisfaction of liabilities in the normal course of business. New World
     Batteries, Inc. has not generated any revenues to date and losses are
     expected to be incurred during its development. The ability of New World
     Batteries, Inc. to continue as a going concern is dependent on raising
     additional capital, the support of its shareholders and ultimately on
     generating future profitable operations.


2.   Significant Accounting Policies:

     These consolidated financial statements have been prepared in accordance
     with generally accepted accounting principles accepted in the United States
     of America applicable to a going concern and reflect the policies outlined
     below. All figures presented in the consolidated financial statements are
     denominated in Canadian dollars.

     a)   Stage of Operations -

          The operations are that of a development stage enterprise that is
          primarily involved in the development of electrochemical technologies
          that improve the available power of certain rechargeable batteries.

     b)   Cash -

          Cash consists of cash and funds in bank accounts integral to the
          company's cash management.

     c)   Short-term Investments -

          Short-term investments consist of term deposits with maturities of
          less than one year.

     d)   Translation of Foreign Currencies -

          Amounts in foreign currencies are translated into Canadian dollars as
          follows:

          i)   Monetary items at the exchange rate prevailing at the end of the
               year;
          ii)  Non-monetary items at the exchange rate prevailing on the date of
               the transaction; and
          iii) Income and expenses at the average annual rate.

                                      F-7

<PAGE>



                       NEW WORLD BATTERIES, INC. Continued
                        (A Development Stage Corporation)
                   Notes to Consolidated Financial Statements
                                December 31, 2006


2.   Significant Accounting Policies: (Continued)

     e)   Use of Estimates -

          The preparation of consolidated financial statements in conformity
          with generally accepted accounting principles in the United States of
          America requires management to make estimates and assumptions that
          affect the amounts reported in the consolidated financial statements
          and accompanying disclosures. Although these estimates are based on
          management's knowledge of current events and actions the company may
          undertake in the future, actual results may differ from the estimates.

     f)   Stock Options -

          The company applies the fair value based method of accounting in
          accordance with Financial Accounting Standard No. 123, "Accounting for
          Stock Based Compensation". Stock compensation cost for employees and
          non-employees are recognized based on the fair value of the equity
          instrument at the date services are performed. Deferred compensation
          expense arises when the compensation expense relates to future
          services. Deferred compensation expense is amortized to income over
          the service period which generally reflects the vesting period.

          The fair value of each option granted is estimated on the date of
          grant using the Black-Scholes Option Pricing Model using the following
          assumptions: Expected dividend yield - 0%, risk free interest rate -
          3%, expected lives - 5 years, and volatility 0%. Since the company is
          privately held and not yet listed on a public stock market, the
          volatility has been computed as 0% and the resulting stock
          compensation expense is $Nil.

     g)   Research and Development Expenditures -

          Research and development costs include payroll, materials, and
          equipment cost solely related to research and development activities.
          These costs are expensed as incurred. Investment tax credits relating
          to current and capital research and development expenditures are
          recorded as a reduction of expenses.

     h)   Income Taxes -

          Income taxes are accounted for under the asset and liability method in
          accordance with Financial Accounting Standard No. 109, "Accounting for
          Income Taxes". Deferred tax assets and liabilities are recognized for
          the future tax consequences attributable to differences between the
          financial statement carrying amounts of existing assets and
          liabilities, and their respective tax bases and operating losses, and
          tax credit carry forwards. Deferred tax assets and liabilities are
          measured using substantially enacted tax rates expected to apply to
          taxable income in the years in which those temporary differences are
          expected to be recovered or settled. The effect on deferred tax assets
          and liabilities on a change in tax rates is recognized in income in
          the period that includes the enactment date. Deferred tax assets are
          reduced by a valuation allowance to the extent that the ability to
          recover the asset is not considered to be more likely than not.

     i)   Loss per Share -

          Basic loss per share is computed on the basis of the weighted average
          number of share of common share stock outstanding during the year.


                                      F-8
<PAGE>


                       NEW WORLD BATTERIES, INC. Continued
                        (A Development Stage Corporation)
                   Notes to Consolidated Financial Statements
                                December 31, 2006

3.   Financial Instruments:

     a)   Fair Values -

          The fair market value of the financial instruments comprising cash,
          short-term investments, accounts receivable, and accounts payable and
          accrued liabilities were estimated to approximate their carrying
          values due to immediate or short-term maturity of these financial
          instruments.

     b)   Foreign Exchange and Interest Rate Risk -

          The company is exposed to foreign exchange and interest rate risk to
          the extent that the market value rate fluctuations materially differ
          from financial assets and liabilities. Exposure to the rate
          fluctuations is reduced by purchasing short-term investments in
          foreign investments.


4.   Stock Options:

     A stock option plan is established whereby options may be granted to the
     directors, officers and employees.

     As at December 31, 2006 the following stock options are outstanding:
<TABLE>
<CAPTION>
                                         Number of   Exercise Price  Weighted Average
                                          Shares       Per Share      Exercise Price
-------------------------------------------------------------------------------------
<S>                                      <C>           <C>    <C>           <C>

Balance, August 30, 2004                      --      $         --       $    --
   Granted during the year               280,200       0.10 - 0.30          0.11
------------------------------------------------------------------------------------
Balance, December 31, 2004               280,200       0.10 - 0.30          0.11
   Granted during the year               260,000       0.30                 0.30
------------------------------------------------------------------------------------
Balance, December 31, 2005 and 2006      540,200       0.10 - 0.30          0.30
====================================================================================
</TABLE>

     The following describes outstanding stock options issued September 1, 2004:

     On September 1, 2004 stock options were granted to employees and directors
     to purchase 260,000 shares at the price of $0.10 per share, exercisable up
     to September 1, 2009.

     The following describes outstanding stock options issued November 15, 2004:

     On November 15, 2004 stock options were granted to a director to purchase
     20,200 shares at the price of Cdn $0.30 (US $0.25) per share, exercisable
     up to November 15, 2009.

     The following describes outstanding stock options issued September 1, 2005:

     On September 1, 2005 stock options were granted to employees and directors
     to purchase 260,000 shares at the price of Cdn $0.30 (US $0.25) per share,
     exercisable up to September 1, 2010.


                                      F-9
<PAGE>


                       NEW WORLD BATTERIES, INC. Continued
                        (A Development Stage Corporation)
                   Notes to Consolidated Financial Statements
                                December 31, 2006

5.   Capital Stock:

                                                           Shares            $
--------------------------------------------------------------------------------
Authorized -
     Unlimited Class "A" Shares without par value
Issued During 2004 -                                        -
     For cash, to set-up company (a)                      4,000,000           4
     For cash, acquisition of assets (b)                  3,500,000     350,000
     Transfer all issued and outstanding shares of
          217304 B.C. Ltd. (c)                                    1      -
     For cash, proceeds on private placement (d)          1,075,172     324,047
--------------------------------------------------------------------------------

Balance, December 31, 2004                                8,575,173     674,051

Issued During 2005 -
     For cash, proceeds on private placement (f)             60,000      18,379
--------------------------------------------------------------------------------

Balance, December 31, 2006 and 2005                       8,635,173     692,430
================================================================================


During the period ended December 31, 2004, the company:

     (a)  issued 4,000,000 shares of stock valued in total at $4 to set-up the
          company;
     (b)  issued 3,500,000 shares of stock valued at $350,000 to acquire assets
          of 217304 B.C. Ltd.
     (c)  issued 1 share of stock to transfer all of the issued and outstanding
          shares of 217304 B.C. Ltd. to the company;
     (d)  completed a private placement whereby 1,075,172 shares of stock were
          issued at an average price of $0.30 ($0.25 US) per share;
     (e)  incurred no costs associated with the issuance of the shares; and

During the year ended December 31, 2005, the company::

     (f)  completed a private placement whereby 60,000 shares of stock were
          issued at an average price of $0.30 ($0.25 US) per share.

6.   Research and Development:


      Experimental devices                          $      -           $  2,263
      Labour                                              14,325         43,276
      Miscellaneous                                          220          2,798
      Patents                                                165         -
      Research                                               215          2,878
      Testing                                                480          3,920
--------------------------------------------------------------------------------
                                                          15,405         55,135
      Less:  Investment tax credit                       (10,450)       (30,974)
--------------------------------------------------------------------------------

                                                       $   4,955        $24,161
================================================================================


                                      F-10
<PAGE>

                       NEW WORLD BATTERIES, INC. Continued
                        (A Development Stage Corporation)
                   Notes to Consolidated Financial Statements
                                December 31, 2006

7.   Income Taxes:

     a)   Non-capital Losses -
<TABLE>
<CAPTION>
                                                                       2006         2005
      -----------------------------------------------------------------------------------
<S>                                                               <C>           <C>
      Deferred Tax Asset:
           Benefit of net operating losses carried forward        $ 122,541     $ 74,441
           Less:  Valuation allowance                              (122,541)     (74,441)
      -----------------------------------------------------------------------------------
                                                                  $      --     $     --
      ===================================================================================
</TABLE>

          Since commercial operations are not yet attainable for the development
          stage corporation, management is unable to demonstrate that it is more
          likely than not that the results of future operations will generate
          sufficient taxable income to realize the net deferred tax asset.

          The reconciliation of income tax attributable to continuing operations
          computed at the Canadian federal statutory tax rates to income tax
          expense is:

                                                       2006             2005
       -----------------------------------------------------------------------
       Tax at Canadian statutory rates                   18%              18%
       Change in valuation allowance                    (18%)            (18%)
       -----------------------------------------------------------------------
       Total recovery                                   - %             -  %
       =======================================================================


     b)   Scientific Research and Development Investments Tax Credits -

          Investment tax credits related to scientific research and development
          expenditures are potentially refundable at the rate of 35% of the
          eligible expenditures. In 2006, an amount of $10,450 was calculated as
          refundable. The potential benefit arising from the investment tax
          credits can be carried forward for ten fiscal years and expires at the
          beginning of the following fiscal period thereafter. These investment
          tax credits expire on January 1, 2017.


8.   Related Party Transactions:

     The President of the company was paid $3,600 as rent in 2006 and 2005 for
     the use of his home office.




                                      F-11
<PAGE>