UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-KSB/A
x Annual Report pursuant to Section 13 or 15(D) of the Securities
Exchange Act of 1934
For the fiscal year ended December 31, 2007

Commission File Number: 000-51227

CAL ALTA AUTO GLASS, INC.
(Name of small business issuer in its charter)

NEVADA                                         88-0448809
(States of other jurisdiction               (I.R.S. Employer
of incorporation or organization)             Identification
No.)

# 8 3927 Edmonton Trail N.E., Calgary, Alberta  Canada

      (Address of principal executive offices)

T2E6T1
(Zip Code)

Issuers telephone number (403) 291-7020

Securities registered pursuant to Section 12(b) of the Act: NONE

Securities registered pursuant to Section 12(g) of the Act: NONE

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 if disclosure of delinquent filers pursuant
to Item 405 of Regulation  S-K (229.405 of this chapter) is not
contained  herein,  and will not be contained, to the best of the
registrants knowledge, in definitive proxy or  information
statements  incorporated  by reference in Part III of this Form
10-K or any amendment to this Form 10-K.

x YES NO

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

At April 14, 2008 the aggregate market value of the voting stock
held by non-affiliates is $ 606,000.


Indicate the number of shares outstanding of each of the
registrants classes of common stock, as of the latest practicable
date.


Common Stock
	18,800,000 Shares Outstanding
$0.001 par value
as of April 14, 2008


Certain information required by Part III of this Form 10-KSB/A is
included by reference to the Company's definitive  proxy statement
filed in accordance with rule 14a-101, Schedule 14A.

Traditional Small Business Disclosure Format (check one):    X
Yes     No

The issuers revenues for its most recent year were $1,721,963.










ii





CAL ALTA AUTO GLASS, INC.
TABLE OF CONTENTS


                   PART I

Page

Item 1.          Description of Business     		2-4
Item 2.          Description of Property      		4-5
Item 3.          Legal Proceedings                      5-6
Item 4.          Submission of Matter to a Vote of
                 Security Holders
		             		                6


                         PART II

Item 5.          Market for Common Equity and
		 Related Stockholder Matters     	6-7

Item 6.          Managements Discussion and
		 Analysis or Plan of Operation         	7-8

Item 7.          Financial Statements  		      	8

Item 8.          Changes in and Disagreements with
		 Accountants on Accounting and
	         Financial Disclosure  	                9

Item 8a.        Controls and Procedures                 9

                        PART III

Item 9.         Directors, Executive Officers,
		Promoters and Control persons;
                Compliance with Section 16(a) of the
		Exchange Act                         	9-10

Item 10.         Executive Compensation	                10-11

Item 11.        Security Ownership of Certain
		Beneficial Owners and Management        11

Item 12.        Certain Relationships and Related
		Transactions         			12

Item 13.        Exhibits and Reports on Form 8-K        12

Item 14.        Accountants


SIGNATURES
	S-1
















1

The statements contained in this Report that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 with respect to
our financial condition, results of operations and business, which
can be identified by the use of forward-looking terminology, such
as "estimates," "projects," "plans," "believes," " expects,"
"anticipates," "intends," or the negative thereof or other
variations thereon, or by discussions of strategy that involve
risks and uncertainties.  Management wishes to caution the reader
of the forward-looking statements that such statements, which are
contained in this Report, reflect our current beliefs with respect
to future events and involve known and unknown risks, uncertainties
and other factors, including, but not limited to, economic,
competitive, regulatory, technological, key employee, and general
business factors affecting our operations, markets, growth,
services, products, licenses and other factors discussed in our
other filings with the Securities and Exchange Commission, and that
these statements are only estimates or predictions. No assurances
can be given regarding the achievement of future results, as actual
results may differ materially as a result of risks facing us, and
actual events may differ from the assumptions underlying the
statements that have been made regarding anticipated
events.  Factors that may cause our actual results, performance
or achievements, or industry results, to differ materially from
those contemplated by such forward-looking statements include,
without limitation:

Our ability to market our services to current and new
customers and generate customer demand for our products and
services in the geographical areas in which we operate;

The highly competitive nature of our industry;


Our ability to retain key personnel;

The availability and maintenance of suitable vendor
relationships, in a timely manner, at reasonable cost; and


General economic conditions.



These forward-looking statements are subject to numerous
assumptions, risks and uncertainties that may cause our actual
results to be materially different from any future results
expressed or implied by us in those statements.

These risk factors should be considered in connection with any
subsequent written or oral forward-looking statements that we or
persons acting on our behalf may issue. All written and oral forward
looking statements made in connection with this Report that are
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements.  Given
these uncertainties, we caution investors not to unduly rely on
our forward-looking statements. We do not undertake any obligation
to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statements
to reflect events or circumstances after the date of this document
or to reflect the occurrence of unanticipated events. Further, the
information about our intentions contained in this document is a
statement of our intention as of the date of this document and is
based upon, among other things, the existing regulatory
environment, industry conditions, market conditions and prices,
the economy in general and our assumptions as of such date. We may
change our intentions, at any time and without notice, based upon
any changes in such factors, in our assumptions or otherwise.













ITEM     1.       Description of Business

     Cal Alta Auto Glass, Inc., (the Company) formerly
International Sports Marketing Group, Inc., was incorporated
October 14, 1999. It had been incorporated to originally market
a specialized piece of sporting equipment named the "sports stick".
However due to insufficient funding this was not possible.

     Cal Alta Auto Glass, Ltd., of Canada was incorporated October
9, 1986, under the laws of Alberta, Canada B.C., to operate
businesses in the auto glass industry. In late 1997, Cal Alta Auto
Glass divested of all of its auto glass operating assets to Pro
Glass Technologies, Inc., a Calgary, Alberta Company with common
ownership.

     Pro Glass Technologies traded as a public entity starting in
the fourth quarter of 2001. However, due to market conditions at
the time, the Company was not able to implement its full business
model, which called for an auto glass distribution arm and an auto
glass warranty operation. Therefore management decided it would
be in the best interest of the shareholders to make the auto glass
operation of Pro Glass Technologies, Inc., private again, while
merging the parent company with another entity that could provide
value to its shareholders.

     Therefore, on September 10, 2002, Pro Glass Technologies,
Inc. entered into an Agreement and Plan of Reorganization by and
between Pro Glass Technologies, Inc.,  and  MicroSignal
Corporation,  a  Pennsylvania corporation,  whereby  Pro Glass
Technologies, Inc., acquired all issued and outstanding shares of
MicroSignal  in  exchange  for the issuance of 17,051,344 shares
of Pro Glass Technologies, Inc. As part of the transaction, Pro
Glass Technologies, Inc., filed Articles of Merger changing its
name to "MicroSignal Corporation". Also, as part of the merger Pro
Glass Technologies, Inc., agreed, as part of the Reorganization
Agreement, to sell back to its President, Frank Aiello, the
Company's current auto glass operations. The Agreement of Purchase
and Sale of Assets provides for Mr. Aiello to purchase the auto
glass business in exchange  for  the  return  of  a maximum of 150,000
shares of MicroSignal's common  stock  which was  owned by Mr.
Aiello. Pro Glass Technologies, Inc. entered into this Agreement
to sell the auto glass operation to Mr. Aiello, because management
of the newly organized entity will be devoting all its time and
energy into developing the MicroSignal business. The newly
reorganized entity will no longer have the personnel or expertise
required to operate the auto glass business. Mr. Aiello, upon
completion of the repurchase of the auto glass assets immediately
transferred the assets and liabilities of the auto glass operations
directly into Cal Alta Auto Glass, Ltd., a family owned Calgary,
Alberta Corporation where they have been operating since.

    The assets acquired in the transaction were cash of $ 8,101,
accounts receivable of $86,604, inventory of $9,598, provision for
future rebates $10,997 deposits & prepaid expenses of  $6,084,
investments in other companies of $6,000 and automotive & shop
equipment $34,961.

     The liabilities acquired in the transaction were accounts
payable $219,080 and long-term debt $15,160. Liabilities exceed
assets by $71,895, which would account for the purchase price paid
by Cal Alta Auto Glass, Ltd., using the historical costs of the
items acquired.

    On November 25, 2003 the Cal Alta Auto Glass, Ltd., entered
into a reverse merger pursuant to Rule 368 (a)(1)(B) of the Internal
Revenue Code of 1986 as amended.  Whereas, International Sports
Marketing Group, Inc. acquired 100% of the common stock of Cal Alta
Auto Glass, Ltd., a Canadian corporation, for 8,500,000 shares of
authorized but un-issued common stock.  International Sports
Marketing Group, Inc. changed its name to Cal Alta Auto Glass, Inc.
Cal Alta Auto Glass, ltd. (Canadian Co.), is the predecessor due
to a reverse merger.  Cal Alta Auto Glass, Inc., is a holding
company.

     Due to the reverse merger, Cal Alta Auto Glass, Ltd., became
a subsidiary company of Cal Alta Auto Glass, Inc. The underlying
reason for the merger was the belief that company gain "public"
status in the US, in order to obtain the ability to conduct
secondary financing to implement the full business plan of Cal Alta
Auto Glass, Inc.

     Cal Alta Auto Glass, Ltd., sells and installs auto glass
products through two Calgary based outlets.  Cal Alta Auto Glass,
Ltd., replaces and repairs windshields of all domestic and foreign
vehicles and to a lesser degree, other types of auto glass.
Additionally, flat glass or non-auto related   applications, such
as furniture, mirrors, greenhouses, etc.

     The Company is not dependent on one or a few major clients
or referrers.

     The operating subsidiary Cal Alta Auto Glass, Ltd., a Canadian
corporation, will comply with Canadian and Alberta regulations.
Cal Alta Auto Glass, Inc. of Nevada will be the consolidated parent
holding company of the Canadian subsidiary and will comply with
US regulations. If Cal Alta Auto Glass, Inc. begins operations of
glass shops in the US, the glass shops will operate in accordance
with the appropriate US laws as a subsidiary of Cal Alta Auto Glass,
Inc.

     Cal Alta Auto Glass, Ltd., operates from two Calgary, Alberta
locations. Approximately 40% of annual sales are paid by customers'
auto insurance policies with the balance being non- insurance
related transactions.

     It should be noted that that Cal Alta Auto Glass, Ltd,
purchases approximately 45% of its glass and supplies from Westcan
Autoglass, a company majority owned by Mr. Frank Aiello, the
Company's President.  Mr. Aiello currently does not run any auto
glass shops of his own.

Reports to Shareholders

      Cal Alta Auto Glass, Inc. is a reporting company as defined
by the Securities Exchange Act. The Company's registration
statement became effective on or about May 27, 2005. Therefore,
the Company is subject to the information and reporting
requirements of that act and we will file periodic reports, proxy
statements and other information with the Securities and Exchange
Commission. Following completion of this registration statement,
we will furnish our shareholders with annual reports at their
request, containing audited financial information for each fiscal
year and will file quarterly reports for the first three quarters
of each fiscal year containing un-audited summary financial
information with the Securities and Exchange Commission. Our
fiscal year ends on December 31.

Subsidiary

     Cal Alta Auto Glass, Ltd., 100% owned: operates two current
locations. A 2,500  square  foot shop is  located  at Bay #8,  3297
Edmonton  Trail NW.,  Calgary,  Alberta  T2E6T1, has been open since
1986. Also, a 5,000 square foot shop is located at 9827 A Horton
Road, SW Calgary, Alberta T2V2X5 has been open since 1991. Cal Alta
Auto Glass, Ltd., markets, installs, replaces, and repairs
windshields for all types of automobiles.  The Company also deals
with other types of auto glass and flat glass for non-auto related
applications.

Probable Governmental Regulations on the Business

     The Company does not need any government approval for its
principal products or services. Furthermore, the Company is not
aware of any existing or probable governmental regulations that
will have an affect on its operations.

Market

     Annual sales for the auto glass market in 2004, in the US is
$2,801,000,000 according to zapdata.com. It has been estimated
that the market for auto glass in Canada is about ten percent of
the US market.

     According to the National Glass Association windshield
repairs should be very good or even at a record pace this year.
Also according to the National Glass Association, windshield
replacement will be flat in the upcoming year. In the opinion of
management Cal Alta Auto Glass should follow the trend of increased
sales from replacing windshields, while a flat year for providing
windshield repairs.

Marketing

     Cal Alta Auto Glass Technologies, Inc., targets its clients
traditionally through print media. The standard methods of
advertising include direct mail flyers and the yellow pages.
Currently, the decisions pertaining to where, and how the Company
spends on advertising is performed by Frank Aiello, the Company's
President.

Competition

     Management considers industry statistics to be consistent
when comparing the US and Canada. Even though the US market is
bigger it is the experience of management that the trends
experienced by the auto glass industry in both countries to be
parallel. According to zapdata.com, the US market of auto glass
installation shops is dominated by shops with less than 10
employees. Cal Alta Auto Glass, Inc. falls in this category and
we consider this segment to be our competition. In excess of 85%
of the auto glass operations are ma/pa type, with less than 10
employees. For our purposes ma/pa type is also defined as auto glass
operations that operate 5 or less shops and are not affiliated with
larger chains.  The industry has not changed significantly in
applications and  service  over  the  last 25  years  with  the
installation  of auto  glass techniques remaining the same.

     The Company has heavy competition in the Calgary, Alberta
area.  In the metropolitan Calgary area it is estimated that there
are approximately 109 glass shops. The main Calgary competition
is Crystal Glass, with 7 shops, Speedy Glass, with 5 shops, and
Apple Glass, with 2 shops. The rest of the market is segregated
into Company's owning only 1 or 2 shops in the greater Calgary,
Alberta area.

     Management believes the Company has a good competitive
position in the Calgary area. This is mostly due to the fact the
Company has an exclusive right to be the only auto glass company
in the direct mailers, that reach customers in the greater Calgary,
Alberta area. This right is only  good if the Company continues
to advertise. If the Company does not advertise it can lose this
right, which management believes could be detrimental to the
Company. Management does not currently have any plans to not use
this direct mail service.

Research and Development

     The Company has not allocated funds for conducting research
and development.

Raw Materials

     The Company does not use any raw materials. Others manufacture
all of the products the Company sells.

Patents, Trademarks, Licenses, Franchises, Concessions, Royalty
Agreements or Labor Contracts

     The Company does not have any Patents, Trademarks, Licenses,
Franchises, Concessions, Royalty Agreements or Labor Contracts.

Employees

     Presently, the Company has 9 employees.  This consists of 5
full time and 3 part time employees.  All the employees spend 100%
of their time working for Cal Alta Auto Glass, Ltd. Management
intends to hire additional employees in the United States and
Canada only as needed and as funds are available.  In such cases,
compensation to management and  employees  will  be  consistent
with prevailing wages for services rendered.



Cautionary Statement

     This annual report contains certain forward-looking
statements. The  Company  wishes  to  advise   readers  that  actual
results  may  differ substantially from such forward-looking
statements.  Forward-looking statements involve  risks and
uncertainties  that  could  cause  actual  results to differ
materially from those expressed in or implied by the statements,
including, but not limited to, the  following:  the ability of the
Company to meet its cash and working  capital needs,  the ability
of the Company to  successfully  market its product.

Item 2.  Description of Property

     The Company has a resident agent office at 6565 Spencer
Street, Las Vegas, NV 89119, Las Vegas,  Nevada.

     A 2,500 square foot shop is located at Bay #8, 3297 Edmonton
Trail NE, Calgary,  Alberta, T2E6T1 and is rented at approximately
$3,000 (US) per month  from Frank Aiello, (the Company's President)
on a three year lease. The lease expires in May of 2010.  A 5,000
square foot shop located at 9827 A Horton Road, SW Calgary, Alberta
T2V2X5 and is rented at approximately $2,665 (US) per month from
an unrelated party on a five year lease that expires in December
2011.

    In the opinion of management, the above rented shops are in
excellent rental condition and adequately insured.

Item 3.  Legal Proceedings

       The Company is not a party to any material pending legal
proceedings and no such action by, or to the best of its knowledge,
against the Company has been threatened.


Item 4.  Submission of Matters to Vote of Security Holders

       There were no matters voted on this year by the
shareholders.

Part II

Item 5.  Market for Registrants Common Equity and Related Matters

        The Company's shares started trading on the OTC-BB in early
March of 2007 under the symbol "CAAG". The Company has
approximately thirty nine  (39) shareholders, including officers,
directors, and control persons. This figure does not take into
account those shareholders whose certificates that are held
in the name of broker-dealers.

The company stock has, during the fiscal year ending December 31,
2007, traded between $.10 and $.55 per share. The number of shares
of common stock, $.001 par value, issued and outstanding of the
Company was 18,800,000 as of April 14, 2008.

The Company has never paid a dividend, nor does it intent to do
so in the foreseeable future. There are no restrictions on the power
of the Board of Directors to declare and pay dividends.

     No  securities  are  currently  being  offered  for  sale,
nor  are  there outstanding any options, rights, warrants to
purchase, or securities convertible into, the common equity of the
Registrant.

The high and low bid price quotations for the common stock, as
reported NASDAQ are as follows for the periods indicated:


                                  	Low              High

Qtr Ended 3-31-07                      $.15               $.55
Qtr Ended 6-30-07                      $.23               $.32
Qtr Ended 9-30-07                      $.16               $.30
Qtr Ended 12-31-07                     $.10               $.10

     The ability of an individual shareholder to trade their shares
in a particular state may be subject to various rules and
regulations of that state. A number of states require that an
issuers  securities  be registered in their state or  appropriately
exempted from  registration  before the  securities are permitted
to  trade  in that  state.  Presently, the  Company  has no plans
to register  its  securities  in any  particular  state.  Further,
most likely the Company's shares will be subject to the provisions
of Section 15(g) and Rule
15g-9 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), commonly referred to as the penny stock rule.
Section 15(g) sets forth certain requirements for transactions in
penny stocks and rule 15g-9(d)(1) incorporates the definition of
penny stock as that used in Rule 3a51-1 of the d that used in Rule
3a51-1 of the Exchange Act.

     The Securities and Exchange Commission (the commission)
generally defines penny stock to be any equity security that has
a market price less than $5.00 per share, subject to certain
exception. Rule 3a51-1  provides  that any equity  security  is
considered  to be a penny stock unless that security is: registered
and traded on a national securities exchange meeting  specified
criteria set by the Commission;  authorized for quotation on the
NASDAQ stock Market;  issued by a registered  investment  company;
excluded from the  definition  on the basis of price (at  least
$5.00 per  share) or the issuers net tangible assets; or exempted
from the definition by the Commission. If the Company's shares are
deemed to be a penny stock, trading in the shares will be subject
to additional sales practice requirements on broker-dealers who
sell penny stocks to persons other than  established  customers
and  accredited investors,  generally  persons  with  assets in
excess of  $1,000,000  or annual income exceeding $200,000, or
$300,000 together with their spouse.

     For transactions covered by these rules, broker-dealers must
make a special suitability  determination  for the  purchase  of
such  security  and must  have received  the  purchasers  written
consent  to the  transaction  prior  to the purchase.  Additionally,
for any  transaction  involving a penny stock,  unless exempt,  the
rules require the delivery,  prior to the first  transaction,  of
a risk  disclosure  document  relating to the penny stock market.
A broker-dealer also must disclose the commissions payable to both
the broker-dealer and the registered representative, and current
quotations for the securities.  Finally, monthly statements must
be sent disclosing recent price information for the penny stocks
held in the account and information on the limited market in penny
stocks. Consequently, these rules may restrict the ability of
broker-dealers to trade and/or maintain a market in the Company's
Common Stock and may affect the ability of shareholders to sell
their shares.


    Changes in Securities / Recent Sales of Unregistered
Securities

On May 10, 2007, the Company issued 2,375,000 shares of common stock
at $.28 per share for total consideration of $665,000. The shares
were issued for the following consideration.

1,225,000 shares of common stock were issued for bonuses to key
employees for total consideration of $343,000. The shares were
issued under the 2007 Employee and Consultants Compensation Fund
and Plan. The Company filed an S-8 registration statement and
issued the securities to employees and consultants in accordance
with rule 405 of Regulation C of the 1933 Securities Act.

1,150,000 shares of common stock were issued for services rendered
at $.28 per share for total consideration of $322,000. The shares
issued for services rendered were issued as follows. The Company
issued 75,000 shares of common stock for legal fees for total
consideration of $21,000 and 1,075,000  shares of common stock
for consulting services for total consideration of $301,000.
The consulting fees of $301,000 were paid to four individuals
for SEC consulting and acquisition due diligence. The shares were
issued under the 2007 Employee and Consultants Compensation
Fund and Plan. The Company filed an S-8 registration statement
and issued the securities to employees and consultants in
accordance with rule 405 of Regulation C of the 1933 Securities Act.

       On June 1, 2007, the Company issued 3,250,000 shares of
common stock at $.07, or total consideration of $227,550 to FAA
Enterprises for services rendered. FAA Enterprises is owned 100%
by Frank Aiello our Company President. The shares were issued under
section 4(2) of the 1933 Securities Act and bear a restrictive
legend.

On July 3, 2007, the Company issued 1,530,000 shares of common stock
at $.27 per share for total consideration of $413,100. The shares
were issued for the following consideration. The Company issued
30,000 shares for legal fees for total consideration of $ 8,100
and further issued 1,500,000 shares for investor relations
services for total consideration of $405,000 (the shares issued
for investor relations were cancelled in the fourth quarter of
2007, the share issuance representing the investor relations
shares were netted out of the transaction in the equity statement
for presentation purposes). It should be noted that the shares for
investor relations were retired due to the proposed transaction
with Energy One not closing in a timely manner and no investor
relations services were rendered in connection with this share
issuance.  The shares were issued under the 2007 Employee and
Consultants Compensation Fund and Plan. The Company filed an S-8
registration statement and issued the securities to employees and
consultants in accordance with rule 405 of Regulation C of the 1933
Securities Act.

       On July 10, 2007, the Company issued 2,745,000 shares of
common stock at $.25 per share for total consideration of $686,250.
The shares were issued for the following consideration. The Company
issued 1,385,000 shares for bonuses to key employees for total
consideration of $346,250. The Company also issued 1,360,000
shares for consulting services for total consideration of
$340,000. The consulting fees were paid to three individuals for
acquisition due diligence. The shares were issued under the 2007
Employee and Consultants Compensation Fund and Plan. The Company
filed an S-8 registration statement and issued the securities to
employees and consultants in accordance with rule 405 of Regulation
C of the 1933 Securities Act.

      As of April 14, 2008 the Company has a total of 18,800,00
shares of common stock issued and outstanding.

Description of Securities

The Company is authorized to issue 25,000,000 shares of Common
Stock, par value $.001 per share. As of December 31, 2007, there
were 18,800,000 shares issued and outstanding. As of December 31,
2006, there were 10,595,000 shares issued, 10,400,000 shares
outstanding and 195,000 shares were held in treasury.

     All shares of Common Stock have equal rights and privileges
with respect to voting,  liquidation and dividend rights. All
shares of Common Stock entitle the holder thereof to (i) one
non-cumulative  vote for each share held of record on all matters
submitted to a vote of the stockholders; (ii) to participate
equally and to receive  any and all such  dividends  as may be
declared by the Board of Directors out of funds legally available
therefore; and (iii) to participate pro rata in any distribution
of assets  available for distribution  upon liquidation of the
Company. Stockholders of the Company have no preemptive rights to
acquire additional shares of Common Stock or any other securities.
The Common Stock is not subject to redemption and carries no
subscription or conversion rights. All outstanding shares of
Common Stock are fully paid and non-assessable. There are no
provisions in Cal Alta Auto Glass, Inc.'s, charter or bylaws that
would prevent, delay or defer a change in control.

     No common stock has been proposed to be offered publicly by
the Company.

    Of the Company's total shares outstanding 7,575,000 shares may
be sold, transferred or otherwise traded in the public market,
unless held by an affiliate  or  controlling  shareholder  of the
Company.  Of these 7,575,000 shares, the Company has identified
no shares as being held by affiliates of the Company.

     In September 2006, the Company repurchased 195,000 shares of
common stock at $.01 per share or total consideration of $1,950
and has accounted for this transaction under the cost method of
accounting for treasury stock.  This repurchase was associated with
the Company attempting to clear comments with the
NASD in the hopes of trading on a public exchange. The Company
retired these shares in early 2007.

     Of the 11,225,000 restricted common shares, all of these
shares considered restricted securities  are held  presently  by
affiliates  and/or  controlling shareholders  of the Company.  These
shares may be sold pursuant to Rule 144, subject to the volume and
other limitations set forth under Rule 144. In general, under Rule
144 as  currently  in effect,  a person (or persons whose shares
are aggregated) who has beneficially owned restricted shares of
the Company for at least one year,  including  any person who may
be deemed to be an affiliate  of the Company (as the term  affiliate
is defined under the Act), is entitled to sell,  within any
three-month  period,  an amount of shares that does not exceed the
greater of (i) the  average  weekly  trading  volume in the Company's
Common Stock, as reported through the automated quotation system
of a registered securities association, during the four calendar
weeks preceding such sale or (ii) 1% of the shares then outstanding.
A person who is not deemed to be an affiliate of the Company and
has not been an affiliate for the most recent three months, and
who has held restricted shares for a least two years would be
entitled to sell such shares without  regard to the resale
limitations of Rule 144.

     Generally, the shares of restricted stock may not be sold or
otherwise transferred  unless  first  registered  under  the  Act
or  unless  there  is an appropriate exemption from registration
available.

Dividend Policy

     The Company has not declared or paid dividends or made
distributions in the past, and the Company does not  anticipate
that it will pay cash  dividends or make distributions in the
foreseeable future.


Item 6.  Managements Discussion and Analysis or Plan of Operation

     The following discussion pertains to the Company's results
of operations as of the years ended December 31, 2007 and 2006.
The Company consolidates the operations of Cal Alta Autoglass, LTD.

Results of Operations

       For the year ended December 31, 2007, the Company had sales
of $1,721,963 compared to $1,133,615 for the same period ended
December 31, 2006, with a net loss of  ($1,616,794) compared to
net income of  $29,176, for the same period respectively.  The
$588,348 increase in revenues for year ended December 31, 2007
compared to 2006, can be attributed largely in managements opinion
to a mild winter in the Calgary area and good economic conditions
in the Calgary area. In mild winters people tend to not wait to
replace their auto glass, so there is no slump in the winter. Also
contributing is the Company increasing their advertising spend by
approximately 10%.  The further strengthening of the Canadian
dollar to the US dollar also contributed to approximately $95,000
of this increase. The Canadian dollar exchange rates strengthened
from .88 for the year average ended December 31, 2006 to .93 for
the year average ended December 31, 2007. Cost of goods sold
increased as a percentage of sales by approximately 2%. In the
opinion of management the increase in the cost of goods sold as
a percentage of revenue is due to the main supplier to the Company
PPG passing along price increase.  Salaries and wages were up
approximately $776,239. $689,250 of this increase is due to the
Company rewarding their staff with stock based bonuses. The bonuses
are for key employees who are important to the daily operations.
The remaining increase is due to increased wages and increased
business so there are more overall payroll hours. Bad debt expense
increased $44,000. This was due to the Company being unable to
obtain year end confirmations from the insurance companies who had
significant accounts receivable balances. General and
administrative expenses were up approximately $73,057. Accounting
costs increased almost $20,000 due to the Company incurring
additional costs due to being a publicly traded company. Credit
card transaction fees also increased almost $10,000 and shop
supplies increased almost $5,000 as the Company experienced
greater business volumes. The balance of the general and
administrative increase was made up of small increases  to several
expense accounts. Management fees increased  $112,278 due to
management fee expense to Frank Aiello, the Company's President.
Mr. Aiello provides senior management and day to day operational
oversight to the Company. For these management services Mr. Aiello
earns $10,000 (CAN) monthly. The management fee is payable upon
demand or Mr. Aiello can elect to offset the payable against a
receivable owed to the Company by Westcan Auto Glass, Ltd (Westcan
(100% owned by Frank Aiello) supplies approximately 45% of the
Company's auto glass and supplies).  It should be noted that Mr.
Aiello receives no salary from the Company. Advertising expenses
increased approximately $37,000 as the Company advertised in more
phonebooks and mailers than in the past. Consulting expenses were
up $870,095 as the Company incurred significant expenses due to
being publicly traded . The consulting expenses can be broken down
into two main categories investor relations $300,000 (ie.
Reviewing company financing options, working to make the Company
DTC eligible, working with market makers) and business consulting
(approximately $570,000).  The business consulting expense is
broken down as follows, approximately $352,000 for business
management ($227,500 of this was paid to FAA Enterprises, which
is 100% owned by Frank Aiello for management services related to
work on the Company's business plan) and $216,000 for general
consulting (ie. SEC document preparation, clerical work, and
possible new site location screening).

The Company does not expect the consulting and investor relation
expenses to run at such a high rate going forward. It is anticipated
that the run rate of these expenses will be approximately 15-20%
of the 2007 run rate. It should be noted that if the Company closes
the proposed transaction with Energy One Resources the estimated
future run rates for consulting and investor relations could change
significantly. Management has not determined what this potential
increase could be. The accounting and related regulatory expenses
are anticipated to continue at the 2007 run rates. The accounting
and regulatory run rates should not be affected by the proposed
Energy One transaction.





Income Statement Summary
December 31

			2007 		 2006

Revenues		$ 1,721,963      $ 1,133,615

Total Operating
Costs     		  3,342,983        1,111,581

Net Operating
Income / (Loss)          (1,621,020)          22,034

Other Income
/ (Expense)	              4,226            7,142


Net Income / (Loss)      (1,616,794)          29,176


Inflation

     In the opinion of management, inflation will not have a
material effect on the operations of the Company.

Quarterly Trends

     The auto glass industry in cold climates is very cyclical.
Business volume approximately doubles in the spring and summer
compared to fall and winter. Consumers tend to put off repairing
cracks and chips that occurred in the icy conditions of winter when
gravel is applied to roadways. The more snowfall received in the
area, the more rock and gravel that is applied to the roadways.
This induces more damage to the windshields of vehicles due to the
increased amount of gravel on the road. Customers typically wait
until after the snow season to repair their windshield damage. The
customers normally don't have the windshield repaired during snow
season due to the risk of damage again from gravel on the roadways.

    However, it should be noted that in the opinion of management,
the greater Calgary area experienced a milder winter. This in turn
caused the Company to experience stronger sales demand in the
winter than normal. This contributed to the Company having higher
revenues for the year ended December 31, 2007 compared to the same
period of 2006.

   In managements opinion the Calgary region is experiencing a
strong business climate, which has helped the Company continue to
grow.

    The Company is not aware of any other trends, uncertainties,
or events that have affected or will affect the Company's
operations.

    The Company is not aware of any significant elements of income
or loss that do not arise from continuing operations.

     There are no expected significant changes in the amount of
employees.

     There are no planned material commitments for any capital
expenditures.

Liquidity and Capital Resources

   As of December 31, 2007, the Company has $73,110 in cash and
$353,192 in accounts and loans receivable. This is compared with
($32,779) in cash and $133,281 in accounts and loans receivable
as of December 31, 2006. It should be noted that included in the
accounts and loans receivable amount for December 31, 2007 and is
$346,918, which was due from FAA Enterprises (see related party
note). This balance was $100,450 as of year-end 2006.

   As of December 31, 2007, the Company has $425,538 in current
liabilities. This is compared with current liabilities of $97,514
as of December 31, 2006. It should be noted that included in the
current liabilities  amount for December 31, 2007 is $216,090 to
Westcan Autoglass Supplies and $129,056 to Frank Aiello   (both
related parties, see related party note). As of December 31, 2006
the Company had no liability to Westcan Autoglass Supplies and had
a payable to Frank Aiello of $1,950.

    The Company has not yet secured any outside funding, or
offerings in case external financing is necessary. However, the
Company feels its current position would be able to fund the Company
for at least 12 months if the Company had no revenues.  However,
in managements' opinion this is highly unlikely. This is due to
the loans and accounts receivable being very liquid.

          For the year ended December 31, 2007, the Company
provided cash from operations in the amount of $230,848 compared
to cash provided from operations of $71,930 for the same period
the year before. Contributing to the increase in cash provided from
operations when comparing the last two years is that in  the Company
owes accounts payable to a related party of $216,090, which was
$0 in 2006. Also, contributing to the increase in cash provided
from operations when comparing the last two years is that in 2007,
the Company issued approximately $1,586,850 in common stock for
services compared to $0 in 2006. It should be noted that the
Company's cash position increased $105,909, when comparing 2007
to 2006.

       The Company does from time to time experience significant
bank overdraft situations. The overdraft situation mostly stems
from seasonality.  Due to this seasonality, cash flows can
fluctuate greatly. Therefore, the Company has arranged through its
banking institution overdraft protection of up to $65,000
(Canadian dollars). There have not been any major consequences of
this overdraft position because the Company has never used the
maximum amount. In the case the Company did max out the overdraft,
the Company would be forced to extend its terms to suppliers and
vendors. However, this is not anticipated to occur. The Company
does pay prime plus two percent while in this overdraft situation
(ie. if prime was 5% the Company would pay the bank 7%, see Exhibit
99.1 CIBC bank overdraft agreement for full details). If the
Company were to become insolvent Mr. Aiello, would be responsible
for the repayment of the overdraft.

Balance Sheet Summary

        		Dec 31 			Dec 31
                        2007 	                 2006

Total Current Assets    $80,913                 37,847

Property (net)           11,213                  9,797

Total Assets            443,479                148,852

Current Liabilities     425,538                 97,154

Total Liabilities       425,538                 97,154

Total Stockholders
Equity                   17,941                 51,698

Total Liabilities and
Stockholders Equity     443,479                148,852

    The Company generated an operating loss of $1,621,020 and a
net loss of  $1,616,794 during the year ended December 31, 2007.
Due to the significant operating and net loss the Company's
independent registered public accountant has issued a going
concern opinion on our audited financial statements. This
condition raises substantial doubt about the Company's ability to
continue as a going concern. The Company's continuation as a going
concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability. The consolidated financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.

     The Company's current capital was provided by the founders
of the Company from operations or through incurring debt.
Management believes that the Company's cash  requirement  can be
satisfied  from current  operations.

     In  the  event  that  outside  funding  is  necessary,   the
Company  will investigate  the  possibility of interim  financing,
either debt or equity,  to provide capital. Although management
has not made any arrangements, the Company would consider private
funding or the private placement of its securities and/or a private
offering. Any  outstanding  funding  will be  procured by the parent
holding company,  Cal Alta Auto Glass,  Inc.,  if the Company  were
to experience  a substantial delay in its ability to secure public
financing from the sale of its securities or from private  lenders.
Management does not feel the Company as a going concern would be
seriously jeopardized.

     All of the present lines offered by the Company have an
established customer base.  Management would consider additional
products and services that would fit their customer profile, but
are manufactured by others.

     The Company maintains a minimal inventory with a wholesale
value of approximately $1,529.  The Company operates on a Just In
Time inventory system where parts are ordered on an as needed basis.
Just In Time inventory systems are common in the auto glass
industry.  This is due to the fact that there are hundreds of
different types of glass due to car manufactures, but also due to
the ever changing body styles.  A Just In Time inventory system
does not affect the Company in any material aspect.

     The Company does intend to use its public status to acquire
other companies. Management has not set any parameters on companies
it wishes to acquire, nor are there any formal agreements to date
to acquire any company. Furthermore, as the Company acquires other
companies, the Company may dispose of entities that are under
performing or do not fit managements long term goals. Management
has not set any criteria for these under performing entities, nor
has management decided to dispose of any current operation.

     It should be noted that the Company is currently under "LOI"
with Energy One Resources, Inc. Energy One Resources, Inc., is in
the business of providing hospitality services to the mining / oil
services industry.  It is anticipated that the transaction will
be a stock for stock transaction and outside funding will not be
needed. However, the Company is still awaiting significant
elements of the requested due diligence so there has been no
determination of the final purchase price. However, it is
anticipated that if the acquisition is completed that the Company
will divest all or part of the auto glass operation.

Recent Accounting Pronouncements

       In March 2007, the FASB issued FASB Staff Position EITF
07-03 ("FSP 07-03"), Accounting for Nonrefundable Advance Payments
for Goods or Services to Be Used in Future Research and Development
Activities. FSP 07-03 addresses whether nonrefundable advance
payments for goods or services that will be used or rendered for
research and development activities should be expensed when the
advance payment is made or when the research and development
activity has been performed. FSP 07-03 will be effective for fiscal
years beginning after December 15, 2007, and interim periods within
those fiscal years.

The Company currently believes that the adoption of FSP 07-03 will
have no material impact on its financial position or results of
operations.

In July 2006, the FASB issued FASB Interpretation No. 48 ("FIN 48"),
"Accounting for Uncertainty in Income Taxes". FIN 48 provides
detailed guidance for the financial statement recognition,
measurement and disclosure of uncertain tax positions recognized
in an enterprise's financial statements in accordance with FASB
Statement No. 109, "Accounting for Income Taxes". Tax positions
must meet a more-likely-than-not recognition threshold at the
effective date to be recognized upon the adoption of FIN 48 and
in subsequent periods. FIN 48 will be effective for fiscal years
beginning after December 15, 2006 and the provisions of FIN 48 will
be applied to all tax positions upon initial adoption of the
Interpretation. The cumulative effect of applying the provisions
of this Interpretation will be reported as an adjustment to the
opening balance of retained earnings for that fiscal year. The
adoption of FIN 48 did not have a material impact on our financial
statements.

In September 2006, the Financial Accounting Standards Board (FASB)
issued SFAS No. 157, Fair Value Measurements, which defines fair
value, establishes a framework for measuring fair value in
generally accepted accounting principles and expands disclosures
about fair value measurements. SFAS No. 157 is effective for fiscal
years beginning after November 15, 2007, and interim periods
within those fiscal years. In February 2008, the FASB issued FASB
Staff Position (FSP FIN) No. 157-2 which extended the effective
date for certain nonfinancial assets and nonfinancial liabilities
to fiscal years beginning after November 15, 2008. The adoption
of SFAS No. 157 did not have a material impact on our financial
statements.


In February 2007, the FASB issued SFAS No. 159, The Fair Value
Option for Financial Assets and Financial Liabilities. SFAS
No. 159 permits companies to choose to measure many financial
instruments and certain other items at fair value. SFAS No. 159
is effective for financial statements issued for fiscal years
beginning after November 15, 2007. The Company does not expect the
adoption of SFAS No. 159 to have a material impact on our
consolidated financial statements.

In December 2007, the FASB issued SFAS No. 141(R), Business
Combinations, and SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements. SFAS No. 141(R) requires an
acquirer to measure the identifiable assets acquired, the
liabilities assumed and any non-controlling interest in the
acquiree at their fair values on the acquisition date, with
goodwill being the excess value over the net identifiable assets
acquired. SFAS No. 160 clarifies that a non-controlling interest
in a subsidiary should be reported as equity in the consolidated
financial statements, consolidated net income shall be adjusted
to include the net income attributed to the non-controlling
interest and consolidated comprehensive income shall be adjusted
to include the comprehensive income attributed to the
non-controlling interest. The calculation of earnings per share
will continue to be based on income amounts attributable to the
parent. SFAS No. 141(R) and SFAS No. 160 are effective for
financial statements issued for fiscal years beginning after
December 15, 2008. Early adoption is prohibited. Upon adoption of
SFAS No. 141(R) or SFAS No. 160, the Company will be required to
reclassify the minority interest reflected on the accompanying
balance sheet to equity. The Company does not expect the adoption
of SFAS No. 141(R) or SFAS No. 160 to have a material impact on
our consolidated financial statements.


Critical Accounting Policies

The preparation of consolidated financial statements in conformity
with accounting principles generally accepted in the United States
of America requires us to make a number of 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. Such estimates and assumptions affect the
reported amounts of revenues and expenses during the reporting
period. On an ongoing basis, we evaluate estimates and assumptions
based upon historical experience and various other factors and
circumstances. We believe our estimates and assumptions are
reasonable in the circumstances; however, actual results may
differ from these estimates under different future conditions.

We believe that the estimates and assumptions that are most
important to the portrayal of our financial condition and results
of operations, in that they require our most difficult, subjective
or complex judgments, form the basis for the accounting policies
deemed to be most critical to us. These critical accounting
policies relate to revenue recognition, allowance for doubtful
accounts and loans receivable. We believe estimates and
assumptions related to these critical accounting policies are
appropriate under the circumstances; however, should future events
or occurrences result in unanticipated consequences, there could
be a material impact on our future financial conditions or results
of operations.

Revenue Recognition

Revenue from the sale of windshields is recognized at the time of
installation, as the Company has no obligation after installation.


For Cash Paying Customers -For customers paying via cash or charge
the Company receives payment before releasing the vehicle.

For Insurance Paying Customers For customers who are having their
windshields and repair work being covered via insurance it adds
additional steps for the Company to be able to recognize revenue.
The shop must communicate with the customer's insurance company
to determine the rate at which the insurance company will reimburse
the Company for these repairs. After the repair work the Company
must submit the appropriate paperwork for collection from the
insurance companies.  Collectibility is reasonably assured due to
initially working out the payment terms as described above, before
rendering services. The Company does not recognize an allowance
on these insurance receivables due to non-collection being very
rare. However, also from time to time the insurance companies may
attempt to pay less than the agreed upon amount.


Allowance for Doubtful Accounts

The allowance for all probable uncollectible receivables is based
on a combination of historical data, cash payment trends, specific
customer issues, write-off trends, general economic conditions and
other factors. These factors are continuously monitored by
management to arrive at an estimate for the amount of accounts
receivable that may ultimately be uncollectible. In circumstances
where Cal Alta is aware of a specific customer's inability to meet
its financial obligations, Cal Alta records a specific allowance
for bad debts against amounts due to reduce the net recognized
receivable to the amount it reasonably believes will be collected.
This analysis requires making significant estimates, and changes
in facts and circumstances could result in material changes in the
allowance for uncollectible receivables.

Loans Receivable

The loan receivable represents a significant portion of the
Company's assets. Due to historical payment terms, management has
not placed an allowance on this loan even though there has been
an outstanding balance for sometime. The note is callable at
anytime by the Company. It should be noted that the Company does
allow FAA Enterprises (100% owned by Frank Aiello) to offset the
amount they owe the Company, with amounts owed by the Company to
Westcan Auto Glass   (100% owned by Frank Aiello).

Off Balance Sheet Disclosures

The Company is not party to any off balance sheet arrangements.

Risk Factors and Cautionary Statements

     Forward-looking statements in this report are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The Company wished to advise readers that actual
result may differ substantially from such forward-looking
statements,  forward-looking statements involve risks and
uncertainties  that could cause actual  results to differ
materially  from those expressed in or implied by the statements,
including, but not limited to, the following: the ability of the
Company   to  successfully  market  its  services if and other risks
detailed in the Company's periodic report filings with the
Securities and Exchange Commission.


Item 7.  Financial Statements and Supplementary Data

Chang G. Park, CPA, Ph. D.
2667 CAMINO DEL RIO SOUTH PLAZA B  SAN DIEGO
CALIFORNIA 92108-3707?
TELEPHONE (858)722-5953 FAX (858) 761-0341 FAX (858) 764-5480
E-MAIL changgpark@gmail.com



 Report of Independent Registered Public Accounting
Firm


To the Board of Directors and Stockholders
Cal Alta Auto Glass, Inc. and subsidiary


We have audited the accompanying consolidated
balance sheets of Cal Alta Auto Glass, Inc. and
subsidiary (the "Company") as of December 31, 2007
and 2006 and the related consolidated statements of
operations, changes in shareholders' equity and
cash flows for the years 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
audits.

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 about whether the
financial statements are free of material
misstatement.  An audit includes examining, on a
test basis, evidence supporting the amounts and
disclosures in the financial statements.  An audit
also includes assessing the accounting principles
used and significant estimates made by management,
as well as evaluating the overall financial
statement presentation.  We believe that our audit
provides a reasonable basis for our opinion.

In our opinion, the consolidated financial
statements referred to above present fairly, in all
material respects, the financial position of Cal
Alta Auto Glass, Inc. and subsidiary as of December
31, 2007 and 2006, and the result of its operations
and its cash flows for the years then ended in
conformity with U.S. generally accepted accounting
principles.

The financial statements have been prepared
assuming that the Company will continue as a going
concern.  As discussed in Note 10 to the
consolidated financial statements, the Company's
losses from operations raise substantial doubt
about its ability to continue as a going concern.
The consolidated financial statements do not
include any adjustments that might result from the
outcome of this uncertainty.



/s/Chang Park
____________________
CHANG G. PARK, CPA

February 8, 2008, except as to Notes 2, 5, 7 and 11
which are as of October 8, 2008




CAL ALTA AUTO GLASS INC.
Consolidated Balance Sheets



				As of		As of
				December 31, 	December 31,
				2007		2006


ASSETS

Current Assets
Cash  	 		$ 	 73,110 	 $ -
Accounts receivable(net)	 6,274 		 32,831
Inventory		 	 1,529 		 1,286
Prepaid expenses		 -   		 3,730


Toal Current Assets	   	 80,913 	 37,847

Net Property & Equipment  	 11,213		 9,796

Other Assets
Loan receivable
(a related party)		 346,918 	 100,450
Deposit			           4,435 	 759


Total Other Assets		 351,353 	 101,209

TOTAL ASSETS	 $ 	 443,479 		 $148,852



LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
Accounts payable	 $ 	 68,226 	 $ 51,339
Accounts payable
 (related party)		 216,090	 -
Bank overdraft			 -   		 32,799
Management fee payable		 129,056	 1,950
Income taxes payable		 6,422 		 -
GST payable		 	 5,744		 11,066


Total Current Liabilities	 425,538	 97,154

Stockholders' Equity
Common stock, ($0.001 par
value, 25,000,000 shares
authorized 18,800,000
shares issued and
 outstanding as of
December 31, 2007
10,595,000 shares issued,
of which 195,000 shares
were held in treasury
as of December 31, 2006) 	 18,800 	 10,595
Paid-in capital		 	1,566,300 	 (10,395)
Treasury stock		 	 -   		 (1,950)
Retained earnings	       (1,584,692)	 52,027
Foreign currency translation
adjustment 		 	17,533		 1,421


Total Stockholders'
Equity				17,941		 51,698

TOTAL LIABILITIES
& STOCKHOLDERS' EQUITY 	 $ 	 443,479 	 $ 148,852



See notes to the financial statements



CAL ALTA AUTO GLASS INC.
Consolidated Statement of Operations



			Year 		Year
			Ended		Ended
			December 31, 	December 31,
			2007		2006


Revenues

Income		 $ 	 1,721,963 	 $ 	 1,133,615


Total Revenues	   	 1,721,963 	   	 1,133,615


Costs of Sales
Glass & moldings	 875,870 		 552,888
Sub. contractors	 -   			 2,296


Total Costs of Sales	875,870 		 555,184


Gross Profit		 846,093 		 578,431

Operating Expenses
Depreciation & amortization 400 		 2,601
Advertising		 210,045 		 172,986
Salaries & wages 	 964,102 		 187,863
Consulting		 879,207 		 9,112
Management fee
(a related party)	 112,278 		 -
Bad debt expense	 44,189 		 -
Administrative expenses	 256,892 		 183,835


Total Operating Expenses 2,467,113 		 556,397

Operating Income / (Loss) (1,621,020)		 22,034

Other Income (Expenses)
Interest expense	 (4,949)		 (2,315)
Interest income
(related party)		 9,175 		 	9,457


Total Other Income
(Expenses)		 4,226 			 7,142


NET INCOME (LOSS)   $ 	 (1,616,794)	 $ 	 29,176



BASIC EARNING (LOSS)
PER SHARE	    $ 	 (0.11)	 	 $ 	 0.00



WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 15,172,151 		 10,529,822

See notes to the financial statements

CAL ALTA AUTO GLASS, INC.
Statement of Changes in Stockholders' Equity
For the Period from december 31, 2005 to December 31, 2007

				Common		Common
				Shares		Stock
						Amount
Balance December
31, 2005			10,595,000	10,595

September 2006 Treasury
Stock repurchased under
the cost method
195,000 shares @$ .01		(195,000)

Foreign curreny
translation adjustment

Net income for
the year ended
December31, 2006

Balance, December
31, 2006			10,400,000	10,595

Treasury Stock					(195)

Stock issued for
services rendered
on May 10, 2007 @
$0.28 per share			1,150,000	1,150

Stock issued for
bonuses on
May 10, 2007 @
$0.07 per share			1,225,000	1,225

Stock issued for
services rendered on
June 1, 2007 @ $0.07
per share			3,250,000	3,250

Stock issued
for services on
July 3, 2007 @			30,000		30
$0.27 per share

Stock issued
for bonuses on
July 10, 2007 @
$0.25 per share			1,385,000	1,385

Stock issued for
consulting services
on July 10, 2007
@ $0.27 per share		1,360,000	1,360

Net income for the
year ended
December 31, 2007

Foreign currency
translation
adjustment

Balance,
December 31, 2007		18,800,000	$18,800







				Additional
				Paid 		Treasury
				Capital		Stock

Balance December
31, 2005			(10,395)

September 2006 Treasury
Stock repurchased under
the cost method
195,000 shares @$ .01		(1,950)

Foreign curreny
translation adjustment

Net income for
the year ended
December31, 2006

Balance, December
31, 2006			(10,395)	(1,950)

Treasury Stock			(1,755)		1,950

Stock issued for
services rendered
on May 10, 2007 @
$0.28 per share			320,850

Stock issued for
bonuses on
May 10, 2007 @
$0.07 per share			341,775

Stock issued for
services rendered on
June 1, 2007 @ $0.07
per share			224,250

Stock issued
for services on
July 3, 2007 @
$0.27 per share			8,070

Stock issued
for bonuses on
July 10, 2007 @
$0.25 per share			344,865

Stock issued for
consulting services
on July 10, 2007
@ $0.27 per share		338,640

Net income for the
year ended
December 31, 2007

Foreign currency
translation
adjustment

Balance,
December 31, 2007		$1,566,300





				Retained	Foreign		Total
				Earnings	Currency
				(Deficit)	Translation

Balance December
31, 2005			22,850		2,877		25,275

September 2006 Treasury
Stock repurchased under
the cost method
195,000 shares @$ .01						(1,950)

Foreign curreny
translation adjustment						(1,456)

Net income for
the year ended
December31, 2006						29,167

Balance, December
31, 2006							51,697

Treasury Stock

Stock issued for
services rendered
on May 10, 2007 @
$0.28 per share							322,000

Stock issued for
bonuses on
May 10, 2007 @
$0.07 per share							343,000

Stock issued for
services rendered on
June 1, 2007 @ $0.07
per share							227,500

Stock issued
for services on
July 3, 2007 @
$0.27 per share							8,100

Stock issued
for bonuses on
July 10, 2007 @
$0.25 per share							346,250

Stock issued for
consulting services
on July 10, 2007
@ $0.27 per share						340,000

Net income for the
year ended
December 31, 2007					      (1,616,794)

Foreign currency
translation
adjustment			(19,924)	16,112		(3,812)

Balance,
December 31, 2007	$     (1,584,692)   $	17,533	    $  17,941



See notes to the financial statement



CAL ALTA AUTO GLASS INC.
Consolidated Statement of Cash Flows



			Year				Year
			Ended				Ended
			December 31,			December 31,
			2007				2006


CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)	 $ 	 (1,616,794)	 $ 	 29,176
Adjustments to reconcile
net loss to net cash
used in operating activities:
Depreciation &
amortization expense			400 		 2,601
Bad debts			     44,189
Commonn stock issued
for services	  	            897,600 		 -
Common stock issued
for bonuses		            689,250 		 -
Gain on sales of
securities	                    	 -   		 (9,457)
Change in assets and
liabilities
(Increase) decrease in
 accounts receivable		  (17,631)		 9,945
(Increase) decrease in
inventory		             (243)		 -
(Increase) decrease in
 provision for earned
 discounts		                -   		 26,072
Increase (decrease) in
 accounts payable		    16,887 		 7,548
Increase (decrease) in
accounts payable
 related party		           216,090 		 -
Increase (decrease) in
taxes payable		            (5,322)		 5,505
Increase (decrease) in
income taxes payable		     6,422 		 -


Net cash provided (used)
by operating activities		   230,848 		 71,390

CASH FLOWS FROM INVESTING ACTIVITIES

(Increase) decrease in
 deposits		                54 		 (1,343)
(Increase) decrease in
 notes receivable		        -   		 6,749
(Increase) decrease in
investment		 -   				 14,604
Change in notes receivable
related party		 	   (246,468)	        (78,637)


Net cash provided (used
 by investing activities           (246,414)		 (58,627)

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in
bank overdraft			   (32,799)		 (11,551)
Change in loan payable		   127,106 		  1,950
Change in treasury stock		 -   		 (1,950)


Net cash provided (used
 by financing activities    	    94,307 		 (11,551)

Effect of exchange rate
 changes on cash		    (5,631)		 (1,212)


Net increase (decrease)
in cash		                    73,110 			 -

Cash at beginning of year		 -   			 -


Cash at end of year	      $     73,110 		 $ 	 -


Supplemental  cash flows
disclosures:

Cash paid during period
for interest	 	      $      4,949 		 $ 2,315
Cash paid during period
 for income taxes	      $ 	 -   		 $ 	 -


Supplemental schedule of
non-cash flows activities:

Treasury stock	 	      $ 	 -   		 $  1,950


See notes to the financial statement

CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006

NOTE  1.  OPERATIONS AND DESCRIPTION OF
BUSINESS

Organization

Cal Alta Auto Glass, Inc., (the Company)
formerly International Sports Marketing Group,
Inc., was incorporated October 14, 1999.  Cal
Alta Auto Glass, Ltd., of Canada was
incorporated under the laws of Alberta, Canada
B.C., to operate businesses in the auto glass
industry.

On November 25, 2003 the Company entered into a
reverse merger pursuant to Rule 368 (a)(1)(B)
of the Internal Revenue Code of 1986 as
amended.  Whereas, International Sports
Marketing Group, Inc. acquired 100% of the
common stock of Cal Alta Auto Glass, Ltd., a
Canadian corporation, for 8,500,000 shares of
common stock.  International Sports Marketing
Group, Inc. changed its name to Cal Alta Auto
Glass, Inc.  Cal Alta Auto Glass, Ltd.
(Canadian Co.), is the predecessor due to a
reverse merger.  The Company is a holding
company.

Due to the reverse merger, Cal Alta Auto Glass,
Ltd., became the subsidiary holding company of
the Company.  The underlying reason for the
merger was the belief that company gain
"public" status in the US, in order to obtain
the ability to conduct secondary financing to
implement the full business plan of the
Company.

Cal Alta Auto Glass, Ltd. sells and installs
auto glass products through two Calgary based
outlets.  Cal Alta Auto Glass, Ltd. replaces
and repairs windshields of all domestic and
foreign vehicles and to a lesser degree, other
types of auto glass. Additionally, flat glass
for non-auto   related   applications   such as
furniture, mirrors, greenhouses, etc., is also
sold.

The   operating   subsidiary   will comply with
Canadian and Alberta regulations.  The Company
of Nevada will be the consolidated parent
holding company of the Canadian subsidiary and
will comply with US regulations. If the Company
begins operations of glass shops in the US; the
glass shops will operate in accordance with the
appropriate US laws as a subsidiary of the
Company.  Cal Alta Auto Glass, Ltd., operates
from two Calgary, Alberta locations.
Approximately 40% of annual sales are paid by
customers' auto insurance policies with the
balance being non-insurance related
transactions.


NOTE  2.  SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

a.  Basis of Accounting

The Company policy is to use the accrual method
of accounting and to prepare and present
financial statements in accordance with
generally accepted accounting principles.


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006



NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (CONTINUED)

b.  Basic Earnings per Share

In February 1997, the FASB issued SFAS No. 128,
"Earnings Per Share", which specifies the
computation, presentation and disclosure
requirements for earnings (loss) per share for
entities with publicly held common stock.  SFAS
No. 128 supersedes the provisions of APB No.
15, and requires the presentation of basic
earnings (loss) per share and diluted earnings
(loss) per share.  Basic net loss per share
amounts is computed by dividing the net loss by
the weighted average number of common shares
outstanding.  Diluted earnings per share are
the same as basic earnings per share due to the
lack of dilutive items in the Company.

c.  Cash and Cash Equivalents

For the purposes of the statement of cash
flows, the Company considers all investments
with maturity of three months or less to be
cash equivalents.

d.  Consolidation

The accompanying consolidated financial
statements include the accounts of the Company
and its subsidiary.  Significant inter-company
accounts and transactions have been eliminated
in consolidation.

e. Commitments and Contingencies

The Company does not have any commitments or
contingencies.

f.  Inventory

Inventory is stated at the lower of cost
(first-in, first-out) or net realizable value,
and consists of auto windshields and related
materials.  The Company's inventory is very
consistent.  As of December 31, 2007 and 2006
the Company had inventory of $1,529 and $1,286,
respectively.

g.  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 the
reported amounts of revenues and expenses
during the reporting period.  Actual results
could differ from those estimates.  In
accordance with FASB 16 all adjustments are
normal and recurring.


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006




NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (CONTINUED)

h.  Property and Equipment/ Depreciation

Property and equipment are recorded at cost.
Minor additions and renewals are expensed in
the year incurred.  Major additions and
renewals are capitalized and depreciated over
their estimated useful lives.  Depreciation and
amortization is calculated using straight-line
method for accounting purposes and accelerated
method for income tax purposes; five years for
vehicles and equipment and seven years for
office furniture. Total depreciation for the
year ended December 31, 2007 and 2006 was $400
and $2,601, respectively.

i.  Revenue Recognition

The Company recognizes revenue from windshield
repairs and replacements at the date the
customer's job is completed.

The Company recognizes revenue from windshield
repairs and replacements when the following
conditions exist:

	Persuasive evidence of an arrangement
exists between a customer and the Company
(a written and accepted estimate).
	Delivery has occurred or services have
been rendered, (job or services for
customer(s) has been completed and
accepted).
	The Company's price to the customer is
fixed or determinable (and accepted).
	Collectibility is reasonably assured.

For customers paying via cash or charge, the
four criteria above are satisfied via the
customer signing an estimate, the Company
providing the services, (usually the same day)
and the Company receiving payment before
releasing the vehicle.

However, for customers who are having their
windshields and repair work being covered via
insurance it adds additional steps for the
Company to be able to recognize revenue. The
shop must communicate with the customers
insurance company to determine the rate at
which the insurance company will reimburse the
Company for these repairs. After the repair
work the Company must submit the appropriate
paperwork for collection from the insurance
companies.  Collectibility is reasonably
assured due to initially working out the
payment terms as described above, before
rendering services. The Company has recognized
an allowance on these insurance receivables of
$48,144 for the year ended December 31, 2007.


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006



NOTE  2.  SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (CONTINUED)

j. Allowance for Doubtful Accounts

The allowance for all probable uncollectible
receivables is based on a combination of
historical data, cash payment trends, specific
customer issues, write-off trends, general
economic conditions and other factors. These
factors  are continuously monitored by
management to arrive at an estimate for the
amount of accounts receivable that may
ultimately be uncollectible. In  circumstances
where Cal Alta is aware of a specific
customer's inability to meet its financial
obligations, Cal Alta records a specific
allowance for bad debts against amounts due to
reduce the net recognized receivable to the
amount it reasonably believes will be
collected. This analysis requires making
significant estimates, and changes in facts and
circumstances could result in
material changes in the allowance for
uncollectible receivables.

k. Loan Receivable

The loan receivable represents a significant
portion of the Company's assets. Due to
historical payment terms, management has not
placed an allowance on this loan even though
there has been an outstanding balance for
sometime. The note is callable at anytime by
the Company. It should be noted that the
Company does allow FAA Enterprises (100% owned
by Frank Aiello) to offset the amount they owe
the Company, with amounts owed by the Company
to Westcan Auto Glass   (100% owned by Frank
Aiello). The Company presents the loan
receivable as long term even though it is
callable at anytime by the Company because
there is no intention to call the loan within
the next twelve months and currently there are
no repayment terms.

l.   Income Taxes

Income taxes are provided in accordance with
Statement of Financial Accounting Standards No.
109 (SFAS 109), Accounting for Income Taxes.  A
deferred tax asset or liability is recorded for
all temporary differences between financial and
tax reporting and net operating loss
carryforwards.  Deferred tax expense (benefit)
results from the net change during the year of
deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation
allowance when, in the opinion of management, it
is more likely than not that some portion or all
of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are adjusted
for the effects of changes in tax laws and rates
on the date of enactment.  Realization of
deferred tax assets is dependent upon sufficient
future taxable income during the period that
deductible temporary differences and
carryforwards are expected to be available to
reduce taxable income.  Income tax returns are
reported to Canada and United States as required
by regulatory agencies.







NOTE 2.   SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (CONTINUED)

m. GST Payable

GST payable represents sales taxes that are owed
by the Canadian operations to the local
governments. As of December 31, 2007 and 2006,
the Company owed $5,744 and $11,066 GST payable,
respectively. It should be noted that the
Company presents its revenues on a  net basis of
any sales or GST taxes.

n. New Accounting Pronouncements:

In December 2007, the Financial FASB issued SFAS
No. 141 (revised 2007), "Business Combinations"
("SFAS 141R"). SFAS 141R establishes principles
and requirements for how an acquirer recognizes
and measures in its financial statements the
identifiable assets acquired, the liabilities
assumed, any noncontrolling interest in the
acquiree and the goodwill acquired. SFAS 141R
also establishes disclosure requirements to
enable the evaluation of the nature and
financial effects of the business combination.
SFAS 141R is effective for fiscal years
beginning after December 15, 2008.  The adoption
of this statement is not expected to have a
material effect on the Company's financial
statements.

In December 2007, the FASB issued SFAS No. 160,
"Noncontrolling Interests in Consolidated
Financial Statements-an amendment of Accounting
Research Bulletin No. 51" ("SFAS 160"). SFAS 160
establishes accounting and reporting standards
for ownership interests in subsidiaries held by
parties other than the parent, the amount of
consolidated net income attributable to the
parent and to the noncontrolling interest,
changes in a parent's ownership interest, and
the valuation of retained noncontrolling equity
investments when a subsidiary is deconsolidated.
SFAS 160 also establishes disclosure
requirements that clearly identify and
distinguish between the interests of the parent
and the interests of the noncontrolling owners.
SFAS 160 is effective for fiscal years beginning
after December 15, 2008.  The adoption of this
statement is not expected to have a material
effect on the Company's financial statements.

In February 2007, the FASB issued SFAS No. 159,
"The Fair Value Option for Financial Assets and
Financial Liabilities - Including an Amendment
of FASB Statement No. 115". This statement
permits entities to choose to measure many
financial instruments and certain other items
at fair value. Most of the provisions of SFAS
No. 159 apply only to entities that elect the
fair value option. However, the amendment to
SFAS No. 115 "Accounting for Certain
Investments in Debt and Equity Securities"
applies to all entities with available-for-sale
and trading securities. SFAS No. 159 is
effective as of the beginning of an entity's
first fiscal year that begins after November
15, 2007. Early adoption is permitted as of the
beginning of a fiscal year that begins on or
before November 15, 2007, provided the entity
also elects to apply the provision of SFAS No.
157, "Fair Value Measurements". The adoption of
this statement is not expected to have a
material effect on the Company's financial
statements.

In September 2006, the FASB issued SFAS No.
157, "Fair Value Measurements" ("SFAS 157").
The objective of SFAS 157 is to increase
consistency and comparability in fair value
measurements and to expand disclosures about
fair value measurements. SFAS 157 defines fair


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006

NOTE 2.   SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (CONTINUED)

value, establishes a framework for measuring
fair value in generally accepted accounting
principles, and expands disclosures about fair
value measurements. SFAS 157 applies under
other accounting pronouncements that require or
permit fair value measurements and does not
require any new fair value measurements. The
provisions of SFAS No. 157 are effective for
fair value measurements made in fiscal years
beginning after November 15, 2007. The adoption
of this statement is not expected to have a
material effect on the Company's future
reported financial position or results of
operations.

NOTE 3.  OPERATING LEASES

The Company leases two locations the north shop
and the south shop.  The South shop lease
expires on December 1, 2011 and the North shop
is leased from a related party and is on a
three year agreement with a related party.
Rent expense for the year ended December 31,
2007 and 2006 were $63,992 and $58,744,
respectively.  The Company also leases a
vehicle under a operating lease that expires in
July 2008.  Lease expenses for the vehicle for
the year ended December 31, 2007 and 2006 and
were $7,156 and $6,741, respectively.  At
December 31, 2007, minimum annual rental
commitments under the property non-cancelable
lease (South shop) were as follows:

Year			Minimum Lease
			Payments

2008			$  77,130
2009			   73,303
2010			   73,303
2011			   34,194
Total			$ 257,930


NOTE 4.  PROPERTY & EQUIPMENT

Components of property and equipment include
the following as of:


		December 31, 2007  December 31, 2006

Office
Equipment	$  28,543	    $  24,005

Automobile 	        0               1,312

Total Office
Equip. &
Automobile	   28,543	       25,317

Accumulated
Depreciation      (17,330)            (15,520)

Net Property and
Equipment       $  11,213	    $   9,797







NOTE 5.  RELATED PARTY TRANSACTIONS

Cal Alta Auto Glass, Ltd, purchases approximately
45% of its glass and supplies from Westcan
Autoglass Supplies, Inc. a company owned 100% by
Mr. Frank Aiello, the Company's President.
Mr. Aiello currently does not run any auto glass
shops of his own.  Cal Alta and supply
purchases from Westcan were $487,337 and $239,574
for the years  ended December 31, 2007 and 2006,
respectively.

Cal Alta owes Westcan Auto Glass Supplies, Inc. (a
related party)  accounts payable of $216,090
as of December 31, 2007.

FAA Enterprises (a related party) owes the Company
loans receivable of $346,918 and $100,450
as of December 31, 2007 and 2006, respectively.
For the year ended December 31, 2007, the
receivable to FAA Enterprises increased $246,468.
The loan receivable is interest bearing at a
rate of 5%. Interest income from this receivable
was $9,175 and $9,457 for the years ended
December 31, 2007 and 2006, respectively. The
loans are callable at anytime by Cal Alta Auto
Glass, Inc. As of  December 31, 2007 there are no
repayment terms.

FAA Enterprises and Westcan Autoglass Supplies,
Inc. are owned 100% by Frank Aiello, the Company's
President. One of the Company's main suppliers is
Westcan Autoglass Supplies, Inc. (A Canadian
Corporation).  The Company's largest debtor is FAA
Enterprises. Cal Alta has received an oral
agreement from Frank Aiello that if necessary to
offset the FAA Enterprises (FAA is owned 100% by
Frank Aiello) receivable with the payable due to
Westcan Autoglass Supplies, Inc. (Westcan is owned
100% by Frank Aiello).  As of 2007 no offset
between the companies had been made.

Cal Alta Auto Glass, Ltd, has a three year lease
agreement for its North shop location.  This
location is owned by FAA Enterprises (a related
party).  The monthly lease commitment is $3,000.
Total rent payments to FAA Enterprises were
$36,000 for the years ended December 31,
2007 and 2006.

Cal-Alta Auto Glass, Ltd has a note payable due to
Frank Aiello, the President of the Company.  As of
December 31, 2007 and 2006 the balance was
$129,056 included in the 2007 balance was a
management fee payable to Mr. Aiello of
approximately $107,900 and $1,950. Currently there
are no repayment terms on the payable to Mr.
Aiello. It should also be noted that the payable
to Mr. Aiello bears a 5% interest rate annually.
The note is callable by Mr. Aiello at anytime.


NOTE 6.  FOREIGN CURRENCY TRANSLATION

Accounting for Cal Alta Auto Glass, Ltd. is
conducted in Canadian currency.  As per our
audit we convert figures on a period basis in
accordance with FASB # 52.  The functional
currency is in Canadian currency.  The
Companies balance sheets as of December 31,
2007 and 2006 were translated at their period
ended rate of 1.01940 and 0.85810, (Canadian
currency to US currency) respectively.
Statements of operations and cash flows were
reported on the weighted average for the twelve
months ended December 31, 2007 and 2006 as
required by FASB # 52. The weighted average for
the year ended December 31, 2007 and 2006 were
0.93565 and 0.88206, (Canadian currency to US
currency) respectively.





NOTE  7.  COMMON STOCK

Transactions other than employees' stock
issuance, are accounted for in accordance with
paragraph 7 of SFAS 123(R).   These
transactions are measured either by the fair
value of the equity instruments issued or by
the fair value of the goods or services
received, whichever is more reliably
measurable.

Transactions involving employees' stock
issuance are accounted for in accordance with
paragraphs (11-63) of SFAS 123(R).   The cost
of services received from employees in exchange
for awards of share-based compensation
generally shall be measured based on the grant-
date-fair value of the equity instruments
issued or on the fair value of the liablilities
incurred.

In September 2006 the Company repurchased
195,000 shares of stock at $0.01.

On May 10, 2007 the Company issued 1,150,000
shares of common stock for services rendered @
$0.28 per share.

On May 10, 2007 the Company issued 1,225,000
shares of common stock for employee bonus @
$0.28 per share.

On June 1, 2007 the Company issued 3,250,000
shares of common stock for services rendered @
$0.07 per share.

On July 3, 2007 the Company issued 30,000
shares of common stock for services @ $0.27 per
share.

On July 10, 2007 the Company issued 1,385,000
shares of common stock for employee bonus @
$0.25 per share.

On July 10, 2007 the Company issued 1,360,000
shares of common stock for consulting services
@ $0.25 per share.

As of December 31, 2007 there were 18,800,000
shares of common stock outstanding.


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006








NOTE 8.  STOCKHOLDERS' EQUITY

The stockholders' equity section of the Company
contains the following classes of capital stock
as of December 31, 2007:

	Common stock, $ 0.001 par value:
25,000,000 shares authorized; 18,800,000
shares issued and outstanding.


The Company has approved two stock option
plans, an Incentive Stock Option Plan and a
Non-qualified Stock Option Plan.  Both plans
are available to officers, directors and key
employees of the Company.  Each plan allows for
the purchase of up to 500,000 shares of common
stock of the Company.

During the year the Company had two stock bonus
issuances.  On May 10, 2007, the Company issued
1,225,000 to employees under the non-qualified
stock option plan.   Stock was issued @ $0.28
per share for a total of $343,000.  On July 10,
2007 the Company issued 1,385,000 shares to
employees under the non-qualified stock option
plan.  Stock was issued @ $0.25 per share for a
total of $346,250.  Accordingly, the Company
recorded $689,250 as expense for the year ended
December 31, 2007, with a corresponding credit
to common stock and additional paid in capital.


NOTE 9.  INCOME TAXES

Net operating losses expire twenty years from
the date the loss was incurred for US tax
purposes. No portion of the valuation allowance
will be allocated to reduce goodwill or other
noncurrent intangible asset of an acquired
entity.  There are no temporary differences or
carryforward tax effects that would
significantly affect the Company's deferred tax
asset.

At December 31, 2007 the Company has an
$1,584,692 operating and capital loss
carryfoward for US tax purposes.

Utilization of the net operating losses and
credit carryforwards may be subject to a
substantial annual limitation due to the
"change in ownership" provisions of the
Internal Revenue Code of 1986.  The annual
limitation may result in the expiration of net
operating losses and credits before
utilization.  None of the valuation allowance
recognized was allocated to reduce goodwill or
other noncurrent intangible assets of an
acquired entity or directly to contributed
capital.

However, at December 31, 2007, the Company has
operating and capital losses carryfoward for
Canadian tax purposes, through its subsidiary
Cal Alta Auto Glass, Ltd.  The tax benefits
resulting for the purposes have been estimated
as follows:



CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006


NOTE 9.  INCOME TAXES (CONTINUED)


			December 31, 2007



Loss carryforward at
December 31, 2006        $    40,428
Net loss for the
year ended 12/31/07           32,003
Loss carryforward at
December 31, 2007             72,431

Deferred tax benefit     $    10,865
Valuation allowance          (10,865)

-------------------------
Net income tax benefit   $      0

The net operating loss expires ten years from
the date the loss was incurred for Canadian tax
purposes.  Income tax returns are reported to
Canada and United States as required by the
regulatory agencies.


NOTE 10. GOING CONCERN

The accompanying consolidated financial
statements have been prepared assuming that the
Company will continue as a going concern.  The
Company generated a net loss of  $1,616,794
during the year ended December 31, 2007. These
conditions raise substantial doubt about the
Company's ability to continue as a going
concern. The Company's continuation as a going
concern is dependent on its ability to meet its
obligations, to obtain additional financing as
may be required and ultimately to attain
profitability. The consolidated financial
statements do not include any adjustments that
might result from the outcome of this
uncertainty.

Management plans to raise additional funds
through debt or equity offerings. Management
has yet to decide what type of offering the
Company will use or how much capital the
Company will raise. There is no guarantee that
the Company will be able to raise any capital
through any type of offerings.

NOTE 11. RESTATEMENT

The accompanying consolidated financial
statements af of December 31, 2007, along with
the Report of the Independent Registered Public
Accounting Firm dated February 8, 2008, have
been restated as of October 8, 2008. The
following is a summary of the significant
effects of the restatemtn on the Notes to the
Consolidated Financial Statements:

In Note 2. the Company added further
disclosures describing critical accounting
policies. Please see the addition of Note 2. j
Allowance for Doubtful Accounts and Note 2. k
Loan Receivable.


CAL-ALTA AUTO GLASS, INC.
Notes to the Consolidated Financial Statements
As of December 31, 2007 and 2006

NOTE 11. RESTATEMENT (CONTINUED)

In Note 5. the company added further
disclosures regarding regarding related party
transactions and payment terms of the related
party transactions.

In Note 7. the Company added the appropriate
disclosures regarding common stock transactions
with non emplyees and employees relative to
FAS 123(R).






Item 8A.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We conducted an evaluation under the supervision and with the
participation of our management, including our Chief Executive
Officer and Chief Financial Officer, of the effectiveness of the
design and operation of our disclosure controls and procedures.
The term "disclosure controls and procedures, as defined in Rules
13a-15(e) and 15d-15(e) under the Securities and Exchange Act of
1934, as amended ("Exchange Act"), means controls and other
procedures of a company that are designed to ensure that
information required to be disclosed by the company in the reports
it files or submits under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the
Securities and Exchange Commission's rules and forms.  Disclosure
controls and procedures also include, without limitation, controls
and procedures designed to ensure that information required to be
disclosed by a company in the reports that it files or submits under
the Exchange Act is accumulated and communicated to the company's
management, including its principal executive and principal
financial officers, or persons performing similar functions, as
appropriate, to allow timely decisions regarding required
disclosure.

Based on this evaluation, our Chief Executive Officer and Chief
Financial Officer concluded (as of December 31, 2007 and as amended
on September 24, 2008 as a result of management's further review
of these matters), that our disclosure controls and procedures were
not effective because of the untimely filing of the management
report on the internal controls.   We have since taken steps to
ensure that our disclosure controls and procedures will be
effective in that we will be able to timely file the management
report in all future filings with the Securities and Exchange
Commission.

However, it should be noted that the design of any system of
controls is based in part upon certain assumptions about the
likelihood of future events, and there can be no assurance that
any design will succeed in achieving its stated goals under all
potential future conditions, regardless of how remote.

Management's Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining
adequate internal control over financial reporting as defined in
Rules 13a-15(f) and 15d-15(f) under the Exchange Act.  Our internal
control over financial reporting is designed 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.  The
internal controls for the Company are provided by executive
management's review and approval of all transactions.  Our
internal control over financial reporting also includes those
policies and procedures that:

(1)  pertain to the maintenance of records that in reasonable detail
accurately and fairly reflect the transactions and dispositions
of our assets;

(2)  provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
accordance with U.S. GAAP, and that our receipts and expenditures
are being made only in accordance with the authorization of our
management; and

(3)  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 misstatements.  Also,
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.

Management assessed the effectiveness of the Company's internal
control over financial reporting as of December 31, 2007.  In making
this assessment, management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission
in Internal Control-Integrated Framework.  Management's
assessment included an evaluation of the design of our internal
control over financial reporting and testing of the operational
effectiveness of these controls.

Based on this assessment, management has concluded that as of
December 31, 2007, our internal control over financial reporting
was effective to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with U.S.
generally accepted accounting principles.

This annual report does not include an attestation report of the
Company's registered public accounting firm regarding internal
control over financial reporting.  Management's report was not
subject to attestation by the Company's registered public
accounting firm pursuant to temporary rules of the Securities and
Exchange Commission that permit the Company to provide only
management's report in this annual report.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial
reporting during our fiscal quarter ended December 31, 2007 that
have materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting.


Item 8.  Changes and Disagreements with Accountants on Accounting
and Financial
 Disclosure

         None

Item 8B. Other Information

None.



Part III

Item 9.  Directors, Executive Officers, Control Persons


      The following table sets forth information with respect to
the current directors and executive officers of the Company.


         Name and
         Address                           	 Position

         Frank Aiello                      	President /
					        Director

         Denise Aiello(1)                      Sec/Director


(1)	Mrs. Aiello is the wife of Frank Aiello the Company's
President.

     All directors hold office until the next annual meeting of
stockholders or until their  successors have been duly elected and
qualified.  Directors will be elected at the annual  meetings  to
serve  for  one-year  terms.  There are no agreements with respect
to the election of directors.  Each executive officer is appointed
by and serves at the discretion of the Board of Directors. It should
be noted that the Company has not held an annual meeting in the
last year.

     The directors will provide their time to Cal Alta Auto Glass,
Inc., affairs on an as needed basis, the exact amount of which is
undetermined at this time.

     The business experience of each of the persons listed above
during the past five years is as follows:

         Frank Aiello, 54, President/Director

Mr. Aiello, has been the Owner and President of FAA Enterprise Ltd.,
a private corporation (holding company) since 1995 to present. FAA
Enterprise Ltd., is a holding Company for investments Mr. Aiello
makes in his own personal interest. From November 2000, to present
Mr. Aiello has been the President of Westcan Autoglass Supplies,
Inc., a auto glass and supplies wholesale company. Since 1986, Mr.
Aiello has also been the President of Cal Alta Auto Glass, Ltd.
a Canadian corporation that owns and operates two automobile glass
replacement and repair locations in Calgary, Alberta.  Currently
Mr. Aiello is the President of Cal Alta Auto Glass, Inc.

         Denise Aiello, 44, Secretary/Director

Mrs. Aiello, has had a very limited role for the last several years
in Cal Alta Auto Glass, Ltd. Mrs. Aiello's primary role has been
assisting Mr. Aiello, when needed in decision making for the
Canadian company, due to it being family held prior to the reverse
merger in November 2003.

     None of the officers and/or directors of Cal Alta Auto Glass,
Inc., are officers or  directors  of any other  publicly  traded
corporation,  nor have any of the affiliates or promoters of Cal
Alta Auto Glass, Inc., filed any bankruptcy  petition, been
convicted in or been the subject of any pending  criminal
proceedings,  or the subject or any order,  judgment,  or decree
involving  the violation of any state or federal securities laws
within the past five years.

Compliance with 16(a) of the Exchange Act

     The Securities Exchange Act of 1934 requires all executive
officers and directors to report any changes in the ownership of
common stock of the Company to the Securities & Exchange Commission
and the Company. The officers and directors of the Company filed
these reports in February of 2008, in compliance with 16(a) of the
exchange act.

Conflicts of Interest

     We do not have any procedures in place to address conflicts
of interest that may arise between our directors and officers
between our business and their other business activities.   It
should be noted that there is the potential for a conflict of
interest for our president, Mr. Frank Aiello. Mr. Aiello, is the
president of Westcan Autoglass Supplies, Inc., who supplies Cal
Alta with approximately 45% of our supplies. No conflicts have
occurred to date.


Item 10.  Executive Compensation

     The following table shows the amount of all compensation
earned or services in all capacities to the Company for the last
three  fiscal years for the executive officers as of December 31,
2007.
..

Officer and directors received the following compensation for the
years ended December 31, 2005, December 31, 2006, and December 31,
2007.

Frank Aiello.  Mr. Aiello is the President of the Company.  Mr.
Aiello owns directly 54% of the Company.

Denise Aiello.  Mrs. Aiello is the Secretary of the Company.  She
has very limited role and has donated her services for the year.
Mrs. Aiello owns directly 9% of the Company.

Directors will receive $500 per meeting paid by Cal Alta Auto Glass,
Inc., payable in stock, plus expenses.

The following table shows the amount of all compensation earned
for services in all capacities to the Company for the last three
fiscal years.

						   Restricted
                                                    Stock
Name              Year		Salary    Bonus     Awards


Frank Aiello,
President         2007        $112,278*	     0     $227,500
Director	  2006               0	     0		0
                  2005         $12,386	     0		0

Denise Aiello,
Secretary         2007               0	     0 		0
Director          2006               0	     0		0
                  2005               0	     0		0

*This represents the management fee which was earned by Mr. Aiello
(see related party note)


Item 11.  Security Ownership of Beneficial Owners and Management

     The following  table sets forth,  as of April 14, 2008,  based
upon our records  and  information   obtained  from  the  persons
named  below,  certain information  concerning  beneficial
ownership of our shares of Common Stock with respect  to (I) each
person  known to own or more than 5% of our  understanding shares
of Common Stock, (II) each of our executive  officers and directors,
and (III) all of our executive officers and directors as a group:

                            	   Amount           Approximate
                           	And Nature           Percentage
                               of Beneficial         of Common
Identity                  	 Ownership          Stock Owned
Frank Aiello                   10,225,000*           54%(II)
Denise Aiello                   1,000,000            5%(II)

Management as a Group
Directly                       11,225,000            59%(III)

*Includes 3,250,000 shares which are held indirectly through FAA
Enterprises LTD, which is 100% owned by Mr. Aiello.



Item 12.  Certain Relationships and Related Transactions

Cal Alta Auto Glass, Ltd, purchases approximately 45% of its glass
and supplies from Westcan Autoglass Supplies, Inc. a company owned
100% by Mr. Frank Aiello, the Company's President.  Mr. Aiello
currently does not run any auto glass shops of his own.  Autoglass
and supply purchases from Westcan were $487,337 and $239,574 for
the years ended December 31, 2007 and 2006, respectively.

Cal Alta owes Westcan Auto Glass Supplies, Inc. (a related party)
accounts payable of $216,090 as of December 31, 2007.

FAA Enterprises (a related party) owes the Company loans receivable
of $346,918 and $100,450 as of December 31, 2007 and 2006,
respectively.  For the year ended December 31, 2007, the receivable
to FAA Enterprises increased $246,468.  The loan receivable is
interest bearing at a rate of 5%. Interest income from this
receivable was $9,175 and $9,457 for the years ended December 31,
2007 and 2006, respectively. The loans are callable at anytime by
Cal Alta Auto Glass, Inc.

FAA Enterprises and Westcan Autoglass Supplies, Inc. are owned 100%
by Frank Aiello, the Company's president.

Cal Alta Auto Glass, Ltd, has a three year lease agreement for its
North shop location.  This location is owned by FAA Enterprises
(a related party).  The monthly lease commitment is $3,000.  Total
rent payments to FAA Enterprises were $36,000 for the years ended
December 31, 2007 and 2006.

Cal-Alta Auto Glass, Ltd has a note payable due to Frank Aiello,
the President of the Company.  As of December 31, 2007 and 2006
the balance was $129,056 and $1,950. Included in the 2007 balance
was a management fee payable to Mr. Aiello of approximately
$107,900.


Item 13.  Exhibits and Reports on 8-K

23.1             Consent Letter
31.1             Certification of the CEO Pursuant to Section 302
                    of the Sarbanes-Oxley Act of 2002
32.1             Certification of the CEO Pursuant to 18 U.S.C.
Section 1350, as
                    Adopted Pursuant to Section 906 of the
Sarbanes-Oxley Act  of 2002.
99.1 	     Bank Overdraft Agreement make this a reference

                           List of documents filed as part of this
report:
                           (a) Exhibits
TRACEY CHECK LIST OF DOCS

ITEM 14.  Principal Accountant Fees and Services

Audit Fees.

     The approximate aggregate fees billed for each of the last
two fiscal years for professional services rendered by Armando C.
Ibarra, CPA (until August 8, 2006) and Chang G. Park, CPA for the
audit of the Registrant's annual financial statements, and review
of financial statements included in the company's SEC filings is
as follows: 2007: $14,100; and 2006: $17,600.

Audit-Related Fees.

     The aggregate fees billed in each of the last two fiscal years
for assurance and related services by Armando C. Ibarra, CPA,
(until August 8, 2006) and Chang G. Park, CPA that are reasonably
related to the performance of the audit or review of the
Registrant's financial statements and are not reported under Audit
Fees above: $0.

Tax Fees.

     The aggregate fees billed in each of the last two fiscal years
for professional services rendered by Armando C. Ibarra, CPA,
(until August 8, 2006) and Chang G. Park, CPA for tax compliance,
tax advice, and tax planning is as follows: 2007 $0 and 2006: $0.

All Other Fees.

     The aggregate fees billed in each of the last two fiscal years
for products and services provided by Armando C. Ibarra, CPA,
(until August 8, 2006) and Chang G. Park, CPA other than the
services reported above: $0.





Part IV


Signatures

     Pursuant to the Requirements of Section 13 or 15(d) of the
Securities Act of 1934,  the  registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly
authorize.

CAL ALTA
AUTO GLASS, INC.

By:/s/ Frank Aiello
Frank Aiello, President/CEO/ Principal Accounting Officer


     Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed by the persons on behalf of
the registrant and in the capacities and on the dates indicated:



Signature              Title                    Date


/s/ Frank Aiello   President/CEO/            10/9/2008
Frank Aiello       Principal Accounting
                   Officer


/s/ Denise Aiello  Sec. / Treas              10/9/2008
Denise Aiello


S-1