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

                                   FORM 10-KSB

  [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934
                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006

                           Commission File No. 0-23965

                        ENTHRUST FINANCIAL SERVICES, INC.
                                ----------------
                 (Name of Small Business Issuer in its Charter)

             Delaware                                       84-1374481
   ------------------------------                 ------------------------------
   State or other jurisdiction of                 I.R.S. Employer Identification
   incorporation or organization                               Number

        47 School Avenue
       Chatham, New Jersey                                     07928
 ------------------------------------                       ------------
Address of principal executive office                          Zip Code

                    Issuer's telephone number: (973) 635-4047

                        ENTRUST FINANCIAL SERVICES, INC.
              (Former name, former address and former fiscal year,
                          if changed since last report)

       SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE EXCHANGE ACT

                                      NONE

       SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE EXCHANGE ACT

                         COMMON STOCK, $0.001 PAR VALUE
                         ------------------------------
                                (Title of Class)

         Check  whether the issuer is not required to file  reports  pursuant to
Section 13 or 15(d) of the Exchange Act. | |

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

         Check if there is no disclosure of delinquent  filers  pursuant to Item
405 of  Regulation  S-B  contained  in  this  form,  and no  disclosure  will be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB.    |X|

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

         For the year ended December 31, 2006, the issuer had no revenues.

         As of February 5, 2007,  2,057,771  shares of the issuer's common stock
were  outstanding.  The aggregate market value of the common stock of the issuer
held by non-affiliates of the issuer (based upon the closing price on the Nasdaq
OTC Bulletin Board of $0.51 on February 5, 2007) was approximately $76,821.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      NONE

    Transitional Small Business Disclosure Format (Check One): Yes | | No |X|


<PAGE>

                        ENTHRUST FINANCIAL SERVICES, INC.

                                   FORM 10-KSB

<TABLE>
<S>                                                                                                     <C>
PART I
   Item 1.     Business...................................................................................2
   Item 2.     Properties................................................................................10
   Item 3.     Legal Proceedings.........................................................................11
   Item 4.     Submission of Matters to a Vote of Security Holders.......................................11
PART II
   Item 5.     Market for Common Equity and Related Stockholder Matters..................................11
   Item 6.     Plan of Operation.........................................................................12
   Item 7.     Financial Statements......................................................................14
   Item 8.     Change in and Disagreements with Accountants on Accounting
               and Financial Disclosure..................................................................14
   Item 8A.    Controls And Procedures...................................................................15
   Item 8B.    Other Information.........................................................................15

PART III
   Item 9.     Directors, Executive Officers, Promoters, Control Persons and Corporate
               Governance; Compliance With Section 16(a) of the Exchange Act.............................15
   Item 10.    Executive Compensation....................................................................17
   Item 11.    Security Ownership of Certain Beneficial Owners and Management and
               Related Stockholder Matters...............................................................17
   Item 12.    Certain Relationships and Related Transactions, and Director Independence.................18
   Item 13.    Exhibits..................................................................................19
   Item 14.    Principal Accountant Fees and Services....................................................19
</TABLE>

                      FORWARD LOOKING STATEMENT INFORMATION
CERTAIN   STATEMENTS   MADE  IN  THIS   ANNUAL   REPORT  ON  FORM   10-KSB   ARE
"FORWARD-LOOKING  STATEMENTS"  REGARDING THE PLANS AND  OBJECTIVES OF MANAGEMENT
FOR  FUTURE  OPERATIONS.  SUCH  STATEMENTS  INVOLVE  KNOWN  AND  UNKNOWN  RISKS,
UNCERTAINTIES  AND OTHER FACTORS THAT MAY CAUSE OUR ACTUAL RESULTS,  PERFORMANCE
OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS,  PERFORMANCE
OR ACHIEVEMENTS  EXPRESSED OR IMPLIED BY SUCH  FORWARD-LOOKING  STATEMENTS.  THE
FORWARD-LOOKING  STATEMENTS  INCLUDED  HEREIN ARE BASED ON CURRENT  EXPECTATIONS
THAT INVOLVE  NUMEROUS  RISKS AND  UNCERTAINTIES.  OUR PLANS AND  OBJECTIVES ARE
BASED, IN PART, ON ASSUMPTIONS  INVOLVING JUDGMENTS WITH RESPECT TO, AMONG OTHER
THINGS,  FUTURE ECONOMIC,  COMPETITIVE AND MARKET CONDITIONS AND FUTURE BUSINESS
DECISIONS,  ALL OF WHICH ARE DIFFICULT OR IMPOSSIBLE TO PREDICT  ACCURATELY  AND
MANY OF WHICH ARE BEYOND OUR CONTROL.  ALTHOUGH WE BELIEVE THAT OUR  ASSUMPTIONS
UNDERLYING THE FORWARD-LOOKING STATEMENTS ARE REASONABLE, ANY OF THE ASSUMPTIONS
COULD  PROVE  INACCURATE  AND,  THEREFORE,  THERE CAN BE NO  ASSURANCE  THAT THE
FORWARD-LOOKING STATEMENTS INCLUDED IN THIS REPORT WILL PROVE TO BE ACCURATE. IN
LIGHT  OF  THE  SIGNIFICANT   UNCERTAINTIES   INHERENT  IN  THE  FORWARD-LOOKING
STATEMENTS  INCLUDED  HEREIN  PARTICULARLY  IN VIEW OF THE CURRENT  STATE OF OUR
OPERATIONS,  THE  INCLUSION  OF SUCH  INFORMATION  SHOULD NOT BE  REGARDED  AS A
STATEMENT  BY US OR ANY OTHER  PERSON  THAT OUR  OBJECTIVES  AND  PLANS  WILL BE
ACHIEVED.  FACTORS THAT COULD CAUSE  ACTUAL  RESULTS TO DIFFER  MATERIALLY  FROM
THOSE EXPRESSED OR IMPLIED BY SUCH  FORWARD-LOOKING  STATEMENTS INCLUDE, BUT ARE
NOT  LIMITED TO, THE FACTORS SET FORTH  HEREIN  UNDER THE  HEADINGS  "BUSINESS,"
"PLAN OF OPERATION" AND "RISK FACTORS".  WE UNDERTAKE NO OBLIGATION TO REVISE OR
UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON.

                                       1
<PAGE>

                                     PART I

ITEM 1. BUSINESS.

We were  organized  on  November 8, 1996 under the laws of the State of Colorado
initially as "Centennial Banc Share  Corporation".  We subsequently  changed our
name  to  "Entrust  Financial  Services,   Inc."  on  April  6,  2001  ("Entrust
Colorado").  On December 4, 2006, Entrust Colorado's Board of Directors approved
the merger of Entrust Colorado with and into Enthrust Financial  Services,  Inc.
("EFS" or the "Company"), a corporation organized on December 20, 2006 under the
laws of the State of Delaware solely for the purpose of the merger.

Effective January 11, 2007,  Entrust Colorado was merged with and into EFS which
became the  surviving  corporation  (the  "Delaware  Merger").  Every issued and
outstanding share of Entrust Colorado common stock was  automatically  exchanged
into one share of EFS common stock and our current  authorized capital structure
consists of 100,000,000  shares of common stock, par value $0.001 per share, and
1,000,000  shares of blank check preferred stock, par value $0.001 per share. In
conjunction  with the Delaware  Merger,  our name changed to Enthrust  Financial
Services, Inc.

Effective  September 18, 2006, Entrust Colorado completed a one-for twenty eight
reverse split of its issued and outstanding shares of common stock. As a result,
the number of issued and outstanding shares of Entrust Colorado common stock was
reduced  from  57,612,295  to 2,057,771  shares (the  "Reverse  Split").  Unless
otherwise  stated,  all  share  and  per  share  information  in  the  financial
statements  and  description  below is  presented  as if the  Reverse  Split and
Delaware Merger took place at the beginning of all periods presented.

We were  initially  formed  for the  purpose of  developing  and  maintaining  a
mortgage brokerage business. In April 1999, we acquired Entrust Mortgage,  Inc.,
a mortgage banking business which became our wholly-owned subsidiary and was our
primary  business until July 31, 2005  ("Entrust  Mortgage").  Entrust  Mortgage
engaged  primarily in the origination and wholesale  purchase of  non-conforming
residential mortgage loans in thirty-eight states.

On July 31, 2005,  Entrust  Mortgage  was sold to BBSB,  LLC in exchange for the
cancellation of all obligations  owed by us and Entrust Mortgage to BBSB and the
assumption  of certain of our third party  obligations  (the  "Entrust  Mortgage
Sale").

The  Company's  stockholders  did not receive any  consideration  in the Entrust
Mortgage Sale, but stockholders of record on July 25, 2005,  received a one time
aggregate dividend from the Entrust Stock Sale (as described below) of $400,000,
or  approximately  $0.153 per share  (pre-split)  The remaining  $100,000 of the
consideration paid by the Entrust Stock Purchasers (as described below) was used
to satisfy or reserve  for the  Company's  liabilities  and to pay the  expenses
related  to the  Entrust  Stock  Sale.  As of  August  6,  2005,  the  Company's
headquarters was relocated to Chatham, New Jersey.

                                       2
<PAGE>

Following the Entrust Mortgage Sale, we had no operations. Since August 1, 2005,
the  Company's  purpose  has been to serve as a vehicle to acquire an  operating
business and is currently  considered a "shell" company  inasmuch as the Company
is not  generating  revenues,  does not own an  operating  business,  and has no
specific plan other than to engage in a merger or acquisition transaction with a
yet-to-be  identified  company or business.  The Company has no employees and no
material assets.

On August 5, 2005, pursuant to a Common Stock Purchase Agreement entered into on
May 12, 2005, the Company sold, in a private  placement  transaction,  1,767,858
shares of its common stock to R&R Biotech Partners,  LLC and Moyo Partners,  LLC
(the "Entrust Stock Purchasers") in exchange for aggregate gross proceeds to the
Company of $500,000 (the "Entrust  Stock Sale").  Effective  upon the closing of
the Entrust Stock Sale,  Arnold P. Kling joined the Company as its president and
sole  director  and Kirk M.  Warshaw  joined the Company as its chief  financial
officer and secretary.

Because of the  foregoing  circumstances,  all of our  activities  that occurred
prior to July 31, 2005 have been accounted for as  Discontinued  Operations.  As
such,  all of the prior  activity has been shown in our financial  statements as
one line item that is labeled "Income (Loss) from Discontinued  Operations,  net
of taxes." Our activities  since July 31, 2005 are shown in the income statement
under the section labeled "Loss from Continuing  Operations."  These amounts are
for  expenses  incurred  since July 31,  2005 and are of the nature we expect to
incur in the future, whereas the Income (loss) from Discontinued  Operations are
from activities we are no longer engaged in.

We  currently  have  no  definitive   agreements  or  understandings   with  any
prospective business combination  candidates and there are no assurances that we
will find a suitable business with which to combine.  The  implementation of our
business objectives is wholly contingent upon a business  combination and/or the
sale of our securities.  We intend to utilize the proceeds of any offering,  any
sales of equity  securities or debt  securities,  bank and other borrowings or a
combination  of those  sources  to effect a business  combination  with a target
business which we believe has significant growth potential.  While we may, under
certain  circumstances,  seek to effect business combinations with more than one
target  business,  unless  additional  financing is  obtained,  we will not have
sufficient proceeds remaining after an initial business combination to undertake
additional business combinations.

A common reason for a target company to enter into a merger with a shell company
is the  desire to  establish  a public  trading  market for its  shares.  Such a
company would hope to avoid the perceived adverse  consequences of undertaking a
public  offering  itself,  such as the  time  delays  and  significant  expenses
incurred  to comply  with the  various  federal  and state  securities  law that
regulate initial public offerings.

As a result of our limited resources,  unless and until additional  financing is
obtained we expect to have sufficient  proceeds to effect only a single business
combination.  Accordingly,  the  prospects  for our  success  will  be  entirely
dependent  upon the future  performance  of a single  business.  Unlike  certain
entities that have the resources to consummate several business  combinations or
entities operating in multiple industries or

                                       3
<PAGE>

multiple  segments of a single industry,  we do not expect to have the resources
to diversify our  operations or benefit from the possible  spreading of risks or
offsetting of losses. A target business may be dependent upon the development or
market  acceptance  of a single or  limited  number of  products,  processes  or
services,  in which  case  there  will be an even  higher  risk that the  target
business will not prove to be commercially viable.

Our two officers are only required to devote a small portion of their time (less
than 10%) to our affairs,  and on a part-time or as-needed  basis.  Our officers
may be entitled to receive  compensation  from a target company they identify or
provide services to in connection with a business combination.  We expect to use
outside consultants, advisors, attorneys and accountants as necessary. We do not
anticipate  hiring  any  full-time  employees  so  long  as we are  seeking  and
evaluating business opportunities.

We do not expect  our  present  management  to play any  managerial  role for us
following a business  combination.  Although we intend to scrutinize closely the
management of a prospective target business in connection with our evaluation of
a business combination with a target business,  our assessment of management may
be incorrect.

In evaluating a prospective  target business,  we will consider several factors,
including the following:

-        experience  and skill of  management  and  availability  of  additional
         personnel of the target business;

-        costs associated with effecting the business combination;

-        equity interest retained by our stockholders in the merged entity;

-        growth potential of the target business;

-        capital requirements of the target business;

-        capital available to the target business;

-        stage of development of the target business;

-        proprietary  features  and  degree of  intellectual  property  or other
         protection of the target business;

-        the financial statements of the target business; and

-        the regulatory environment in which the target business operates.

The  foregoing  criteria are not intended to be  exhaustive  and any  evaluation
relating to the merits of a particular  target  business  will be based,  to the
extent relevant,  on the above factors, as well as other  considerations we deem
relevant. In connection with our evaluation of a prospective target business, we
anticipate that we will conduct a due

                                       4
<PAGE>

diligence  review  which  will  encompass,  among  other  things,  meeting  with
incumbent  management  as  well  as a  review  of  financial,  legal  and  other
information.

The time and costs required to select and evaluate a target business  (including
conducting a due diligence  review) and to structure and consummate the business
combination  (including  negotiating  and  documenting  relevant  agreements and
preparing  requisite  documents for filing pursuant to applicable  corporate and
securities  laws) cannot be  determined at this time.  Our president  intends to
devote only a very small portion of his time to our affairs,  and,  accordingly,
the consummation of a business  combination may require a longer time than if he
devoted his full time to our  affairs.  However,  he will devote such time as he
deems reasonably  necessary to carry out our business and affairs. The amount of
time devoted to our business and affairs may vary significantly  depending upon,
among other things,  whether we have identified a target business or are engaged
in active negotiation of a business combination.

We anticipate that various  prospective target businesses will be brought to our
attention from various sources, including securities broker-dealers,  investment
bankers,  venture  capitalists,  bankers  and  other  members  of the  financial
community, including, possibly, our officers and affiliates.

As a general rule, federal and state tax laws and regulations have a significant
impact upon the  structuring  of business  combinations.  We will  evaluate  the
possible tax  consequences  of any  prospective  business  combination  and will
endeavor to structure a business combination so as to achieve the most favorable
tax treatment to our company,  the target business and our  stockholders.  There
can be no assurance  that the  Internal  Revenue  Service or relevant  state tax
authorities  will  ultimately  assent  to  our  tax  treatment  of a  particular
consummated business combination.  To the extent the Internal Revenue Service or
any relevant state tax authorities  ultimately prevail in  recharacterizing  the
tax treatment of a business  combination,  there may be adverse tax consequences
to our company, the target business, and our stockholders.

We may  acquire a company or  business  by  purchasing  the  securities  of such
company  or  business.  However,  we do not intend to engage  primarily  in such
activities.  Specifically,  we intend to conduct our  activities  so as to avoid
being classified as an "investment  company" under the Investment Company Act of
1940, as amended (the "Investment  Company Act") and therefore avoid application
of  the  costly  and  restrictive  registration  and  other  provisions  of  the
Investment Company Act and the regulations promulgated thereunder.

Section 3(a) of the  Investment  Company Act excepts from the  definition  of an
"investment  company" an entity which does not engage  primarily in the business
of investing,  reinvesting or trading in securities, or which does not engage in
the business of investing,  owning,  holding or trading "investment  securities"
(defined as "all securities  other than  government  securities or securities of
majority-owned  subsidiaries") the value of which exceed 40% of the value of its
total assets (excluding government securities, cash or cash items). We intend to
operate  any  business  in the  future  in a manner  which  will  result  in the
availability of this exception from the definition of an investment

                                       5
<PAGE>

company.  Consequently,  our  acquisition  of a company or business  through the
purchase and sale of investment  securities will be limited.  Although we intend
to act to avoid  classification as an investment company,  the provisions of the
Investment  Company Act are extremely  complex and it is possible that we may be
classified as an inadvertent  investment company. We intend to vigorously resist
classification as an investment company, and to take advantage of any exemptions
or exceptions  from  application of the Investment  Company Act, which allows an
entity a one-time option during any three-year period to claim an exemption as a
"transient"  investment company. The necessity of asserting any such resistance,
or making any claim of exemption,  could be time  consuming and costly,  or even
prohibitive, given our limited resources.

Various  impediments  to a business  combination  may arise,  such as  appraisal
rights  afforded the  stockholders  of a target  business  under the laws of its
state  of  organization.  This  may  prove  to  be  deterrent  to  a  particular
combination.

EMPLOYEES

We have no employees since August 2005.




                                  RISK FACTORS

WE HAVE NO OPERATING HISTORY OR BASIS FOR EVALUATING PROSPECTS.

Since August 2005, we have had no operating business or plans to develop one. We
are  currently  seeking  to enter  into a merger or  business  combination  with
another company.  Our president,  Arnold Kling, was appointed in August 2005 and
has had limited  time to evaluate  merger  prospects  and,  accordingly,  only a
limited  basis upon which to evaluate our  prospects  for achieving our intended
business  objectives.  To  date,  our  efforts  have  been  limited  to  meeting
regulatory requirements and searching for a Merger Target.


WE HAVE  LIMITED  RESOURCES  AND NO  REVENUES  FROM  OPERATIONS,  AND WILL  NEED
ADDITIONAL  FINANCING IN ORDER TO EXECUTE ANY BUSINESS  PLAN;  OUR AUDITORS HAVE
EXPRESSED DOUBT AS TO OUR ABILITY TO CONTINUE BUSINESS AS A GOING CONCERN.

We have limited  resources,  no revenues from operations since the Entrust Stock
Sale and our cash on hand may not be sufficient to satisfy our cash requirements
during the next twelve  months.  In  addition,  as of  December  31, 2006 we had
negative  working  capital and do not expect to achieve any revenues (other than
insignificant  investment income) until, at the earliest,  the consummation of a
merger and we cannot ascertain our capital requirements until such time. Further
limiting  our  abilities  to achieve  revenues,  in order to avoid  status as an
"Investment Company" under the Investment Company Act of 1940,

                                       6
<PAGE>

we can only invest our funds prior to a merger in limited  investments  which do
not  invoke  Investment   Company  status.   There  can  be  no  assurance  that
determinations  ultimately  made by us will  permit us to achieve  our  business
objectives.  Our auditors have included an explanatory paragraph in their report
for the year ended December 31, 2006,  indicating that certain  conditions raise
substantial  doubt  regarding  our ability to continue as a going  concern.  The
financial  statements included in this Form 10-KSB do not include any adjustment
to asset values or recorded  amounts of liability that might be necessary in the
event we are unable to continue as a going concern.  If we are in fact unable to
continue as a going concern,  stockholders  may lose their entire  investment in
our common stock.

WE  WILL  BE ABLE  TO  EFFECT  AT MOST  ONE  MERGER,  AND  THUS  MAY NOT  HAVE A
DIVERSIFIED BUSINESS.

Our  resources  are  limited  and we will most likely have the ability to effect
only a single merger.  This probable lack of diversification  will subject us to
numerous economic,  competitive and regulatory developments, any or all of which
may have a material adverse impact upon the particular  industry in which we may
operate  subsequent to the  consummation of a merger.  We will become  dependent
upon the  development  or market  acceptance  of a single or  limited  number of
products, processes or services.

WE DEPEND SUBSTANTIALLY UPON A SINGLE EXECUTIVE OFFICER AND DIRECTOR TO MAKE ALL
MANAGEMENT DECISIONS.

Our  ability  to  effect a merger  will be  dependent  upon the  efforts  of our
president and sole director, Arnold Kling. Notwithstanding the importance of Mr.
Kling, we have not entered into any employment  agreement or other understanding
with Mr. Kling concerning  compensation or obtained any "key man" life insurance
on his life. The loss of the services of Mr. Kling will have a material  adverse
effect on our business  objectives and prospects for success.  We will rely upon
the expertise of Mr. Kling to effect a merger or business combination and do not
anticipate that we will hire additional personnel for that purpose.

THERE MAY BE CONFLICTS OF INTEREST BETWEEN OUR MANAGEMENT AND OUR NON-MANAGEMENT
STOCKHOLDERS.

Conflicts of interest  create the risk that  management may have an incentive to
act adversely to the interests of other investors.  Our officers may be entitled
to receive  compensation from a target company they identify or provide services
to in connection with a business  combination.  A conflict of interest may arise
between our management's  personal  pecuniary interest and its fiduciary duty to
our stockholders.  Further,  our management's own pecuniary interest may at some
point compromise its fiduciary duty to our stockholders.  In addition, Mr. Kling
and Mr.  Warshaw,  our officers and sole director,  are currently  involved with
other  blank  check   offerings   and  conflicts  in  the  pursuit  of  business
combinations with such other blank check companies with which they

                                       7
<PAGE>

and  affiliates  of our  majority  stockholder  are,  and may in the  future  be
affiliated  with, may arise.  If we and the other blank check companies that our
officers and directors are affiliated  with desire to take advantage of the same
opportunity,  then those officers and directors  that are  affiliated  with both
companies  would  abstain from voting upon the  opportunity.  Further,  Rodman &
Renshaw,  LLC,  a  registered   broker-dealer  and  affiliate  of  our  majority
stockholder,  may  act  as  investment  banker,  placement  agent  or  financial
consultant  to us or as an  acquisition  target in  connection  with a potential
business  combination  transaction  and may receive a fee for such services.  We
cannot assure you that conflicts of interest among us, our management,  Rodman &
Renshaw, LLC and our stockholders will not develop.

THERE  IS  COMPETITION  FOR  THOSE  PRIVATE  COMPANIES  SUITABLE  FOR  A  MERGER
TRANSACTION OF THE TYPE CONTEMPLATED BY MANAGEMENT.

We  are  in  a  highly  competitive  market  for  a  small  number  of  business
opportunities  which could reduce the  likelihood of  consummating  a successful
business  combination.   We  are  and  will  continue  to  be  an  insignificant
participant  in the business of seeking  mergers with,  joint  ventures with and
acquisitions of small private and public entities. A large number of established
and well-financed entities, including small public companies and venture capital
firms, are active in mergers and acquisitions of companies that may be desirable
target candidates for us. Nearly all these entities have  significantly  greater
financial resources, technical expertise and managerial capabilities than we do;
consequently,  we will be at a competitive  disadvantage in identifying possible
business opportunities and successfully completing a business combination. These
competitive   factors  may  reduce  the  likelihood  of  our   identifying   and
consummating a successful business combination.

FUTURE  SUCCESS IS HIGHLY  DEPENDENT ON THE ABILITY OF  MANAGEMENT TO LOCATE AND
ATTRACT A SUITABLE ACQUISITION.

The nature of our operations is highly  speculative.  The success of our plan of
operation will depend to a great extent on the operations,  financial  condition
and management of the identified business opportunity.  While management intends
to seek business  combination(s)  with  entities  having  established  operating
histories,  we  cannot  assure  you  that  we  will be  successful  in  locating
candidates  meeting  that  criterion.  In  the  event  we  complete  a  business
combination,  the success of our operations may be dependent upon  management of
the successor firm or venture partner firm and numerous other factors beyond our
control.

                                       8
<PAGE>

WE HAVE NO EXISTING AGREEMENT FOR A BUSINESS COMBINATION OR OTHER TRANSACTION.

We have no agreement  with respect to engaging in a merger with,  joint  venture
with or acquisition  of, a private or public entity.  No assurances can be given
that we will successfully identify and evaluate suitable business  opportunities
or that we will conclude a business  combination.  Management has not identified
any particular  industry or specific business within an industry for evaluation.
We cannot guarantee that we will be able to negotiate a business  combination on
favorable  terms,  and there is  consequently a risk that funds allocated to the
purchase of our shares will not be  invested in a company  with active  business
operations.

MANAGEMENT WILL CHANGE UPON THE CONSUMMATION OF A MERGER.

After the closing of a merger or business combination,  it is likely our current
management will not retain any control or managerial responsibilities. Upon such
event, Mr. Kling and Mr. Warshaw intend to resign their positions with us.

CURRENT STOCKHOLDERS WILL BE IMMEDIATELY AND SUBSTANTIALLY DILUTED UPON A MERGER
OR BUSINESS COMBINATION.

Our charter authorized the issuance of 100,000,000 shares of common stock. There
are  currently  97,942,229  authorized  but  unissued  shares  of  common  stock
available for issuance. To the extent that additional shares of our common stock
are issued in connection with a merger or business combination, our stockholders
could experience  significant  dilution of their respective ownership interests.
Furthermore,  the issuance of a substantial number of shares of common stock may
adversely  affect  prevailing  market  prices,  if any, for the common stock and
could impair our ability to raise additional  capital through the sale of equity
securities.

CONTROL BY EXISTING STOCKHOLDER.

R&R Biotech Partners, LLC beneficially owns approximately 69% of the outstanding
shares of our common stock.  As a result,  this  stockholder is able to exercise
significant control over matters requiring stockholder  approval,  including the
election of directors, and the approval of mergers,  consolidations and sales of
all or substantially all of our assets.

                                       9
<PAGE>

OUR  COMMON  STOCK  IS A  "PENNY  STOCK"  WHICH  MAY  RESTRICT  THE  ABILITY  OF
STOCKHOLDERS TO SELL OUR COMMON STOCK IN THE SECONDARY MARKET.

The U.S.  Securities  and Exchange  Commission  ("SEC") has adopted  regulations
which generally  define "penny stock" to be an equity security that has a market
price,  as defined,  of less than $5.00 per share,  or an exercise price of less
than $5.00 per share,  subject to certain exceptions,  including an exception of
an equity security that is quoted on a national securities exchange.  Our common
stock is not now quoted on a national  exchange  but is traded on  Nasdaq's  OTC
Bulletin Board ("OTCBB"). Thus, they are subject to rules that impose additional
sales practice  requirements on broker-dealers  who sell these  securities.  For
example, the broker-dealer must make a special suitability determination for the
purchaser of such securities and have received the  purchaser's  written consent
to the transactions prior to the purchase.  Additionally,  the rules require the
delivery, prior to the transaction, of a disclosure schedule prepared by the SEC
relating to the penny stock  market.  The  broker-dealer  also must disclose the
commissions  payable to both the broker-dealer  and the registered  underwriter,
and current quotations for the securities, and, if the broker-dealer is the sole
market maker, the broker-dealer must disclose this fact and the  broker-dealer's
presumed control over the market.  Finally,  among other  requirements,  monthly
statements must be sent disclosing  recent price information for the penny stock
held in the account and  information on the limited market in penny stocks.  The
"penny stock" rules,  may restrict the ability of our  stockholders  to sell our
common stock in the secondary market.

OUR COMMON STOCK HAS BEEN THINLY  TRADED,  LIQUIDITY  IS LIMITED,  AND WE MAY BE
UNABLE TO OBTAIN LISTING OF OUR COMMON STOCK ON A MORE LIQUID MARKET.

Our  common  stock is quoted on the OTCBB,  which  provides  significantly  less
liquidity  than a  securities  exchange  (such as the American or New York Stock
Exchange) or an automated  quotation system (such as the Nasdaq Global Market or
the Nasdaq Capital Market). There is uncertainty that our common stock will ever
be  accepted  for a listing on an  automated  quotation  system or a  securities
exchange.

There is currently a limited volume of trading in our common stock,  and on many
days there has been no trading  activity at all. The purchasers of shares of our
common stock may find it  difficult  to resell their shares at prices  quoted in
the market or at all.

ITEM 2. PROPERTIES.

Since August 6, 2005,  our  principal  offices are located at 47 School  Avenue,
Chatham,  New Jersey which are owned by an  affiliated  company of Kirk Warshaw,
our chief financial officer and secretary.  We occupy our principal offices on a
month to month basis for no rent.  We do not own or intend to invest in any real
property.

                                       10
<PAGE>

ITEM 3. LEGAL PROCEEDINGS.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

Reference  is made to the Current  Report on Form 8-K that we filed with the SEC
on  January  22,  2007,  which  we  incorporate  herein  by  reference,  for the
information responsive to this Item 4.


PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

PRINCIPAL MARKET OR MARKETS

Our common stock is traded on Nasdaq's Over-The-Counter Bulletin Board ("OTCBB")
market under the symbol "EFSV".  The following table sets forth, for the periods
indicated  and as  reported  on the  OTCBB,  the high and low bid prices for our
common stock. The quotations reflect  inter-dealer prices without retail mark-up
or commission and may not represent actual transactions.


                                         BID PRICE
                                   HIGH              LOW
                                   ----              ---
           2006
           ----
First Quarter                     $6.33             $1.67
Second Quarter                    $6.00             $3.33
Third Quarter*                    $3.67             $0.51
Fourth Quarter                    $1.01             $0.51

           2005
           ----
First Quarter                    $22.40             $1.40
Second Quarter                    $9.52             $2.52
Third Quarter                     $7.56             $3.08
Fourth Quarter                    $3.64             $1.68
---------------------

*A 1 for 28  reverse-split  was  effected on  September  18, 2006 (the  "Reverse
Split").  All prices  prior to the  Reverse  Split have been  adjusted as if the
Reverse Split had occurred at the beginning of the first quarter of 2005.

                                       11
<PAGE>

APPROXIMATE NUMBER OF HOLDERS OF COMMON STOCK

As of January  30,  2007,  we had a total of  2,057,771  shares of common  stock
issued and  outstanding.  The number of holders of record of our common stock at
that date was 252.

DIVIDENDS

Holders  of common  stock are  entitled  to  receive  such  dividends  as may be
declared  by our Board of  Directors.  Other than the special  dividend  paid to
stockholders of record on July 25, 2005 in connection with the Entrust  Mortgage
Sale, no dividends were declared or paid during the periods reported herein, nor
do we anticipate paying dividends in the foreseeable future.

RECENT SALES OF UNREGISTERED SECURITIES

None.

ITEM 6. PLAN OF OPERATION.

STATEMENTS  CONTAINED IN THIS PLAN OF  OPERATION  OF THIS ANNUAL  REPORT ON FORM
10-KSB INCLUDE "FORWARD-LOOKING STATEMENTS".  FORWARD-LOOKING STATEMENTS INVOLVE
KNOWN AND UNKNOWN RISKS,  UNCERTAINTIES  AND OTHER FACTORS WHICH COULD CAUSE OUR
ACTUAL RESULTS,  PERFORMANCE  (FINANCIAL OR OPERATING) OR ACHIEVEMENTS EXPRESSED
OR IMPLIED BY SUCH FORWARD-LOOKING  STATEMENTS NOT TO OCCUR OR BE REALIZED. SUCH
FORWARD-LOOKING STATEMENTS GENERALLY ARE BASED UPON OUR BEST ESTIMATES OF FUTURE
RESULTS, GENERAL MERGER AND ACQUISITION ACTIVITY IN THE MARKETPLACE, PERFORMANCE
OR  ACHIEVEMENT,  CURRENT  CONDITIONS AND THE MOST RECENT RESULTS OF OPERATIONS.
FORWARD-LOOKING  STATEMENTS  MAY BE  IDENTIFIED  BY THE  USE OF  FORWARD-LOOKING
TERMINOLOGY SUCH AS "MAY," "WILL," "PROJECT," "EXPECT,"  "BELIEVE,"  "ESTIMATE,"
"ANTICIPATE,"  "INTENDS,"  "CONTINUE,"  "POTENTIAL,"  "OPPORTUNITY"  OR  SIMILAR
TERMS,  VARIATIONS  OF THOSE  TERMS  OR THE  NEGATIVE  OF  THOSE  TERMS OR OTHER
VARIATIONS OF THOSE TERMS OR COMPARABLE WORDS OR EXPRESSIONS.

GENERAL

Our plan is to seek,  investigate,  and  consummate  a merger or other  business
combination,  purchase of assets or other strategic  transaction (i.e. a merger)
with a corporation,  partnership,  limited  liability  company or other business
entity (a "Merger Target") desiring to become a publicly  reporting and publicly
held corporation.  We have no operating business, and conduct minimal operations
necessary  to  meet  regulatory  requirements.   Our  ability  to  commence  any
operations is contingent upon obtaining adequate financial resources.

We are not currently engaged in any business  activities that provide cash flow.
The costs of investigating and analyzing  business  combinations for the next 12
months and beyond such time will be paid with money in our treasury.

                                       12
<PAGE>

During the next twelve months we anticipate incurring costs related to:

  (i) filing reports pursuant to the Securities Exchange Act of 1934, as amended
(the "Exchange Act"); and
  (ii) consummating a transaction with a Merger Target.

We  believe  we will be able to meet  these  costs  through  use of funds in our
treasury and additional amounts, as necessary, to be loaned to or invested in us
by our stockholders, management or other investors.

We may  consider  a  business  which has  recently  commenced  operations,  is a
developing  company in need of additional  funds for expansion into new products
or markets, is seeking to develop a new product or service, or is an established
business which may be experiencing financial or operating difficulties and is in
need of additional  capital.  In the  alternative,  a business  combination  may
involve  the  acquisition  of, or merger  with,  a company  which  does not need
substantial  additional capital, but which desires to establish a public trading
market for its shares,  while  avoiding,  among other  things,  the time delays,
significant  expense,  and loss of  voting  control  which may occur in a public
offering.

In August 2005,  following the Entrust Stock Sale,  Arnold P. Kling joined us as
our  president  and sole  director  and Kirk M.  Warshaw  joined us as our chief
financial officer and secretary.  Messrs. Kling and Warshaw are only required to
devote a small  portion  of their  time  (less  than  10%) to our  affairs  on a
part-time or as-needed basis. No cash  compensation  will be paid to any officer
or  director  in their  capacities  as such.  We do not  anticipate  hiring  any
full-time   employees  as  long  as  we  are  seeking  and  evaluating  business
opportunities.

Since the Entrust Stock Sale we have not incurred any material costs or expenses
other  than those  associated  with our  minimal  operations  necessary  to meet
regulatory requirements. As of December 31, 2006 we had cash on hand of $16,867.
Since we have no revenue  or plans to  generate  any  revenue,  if our  expenses
exceed  our  cash  currently  on hand we will be  dependent  upon  loans to fund
expenses incurred in excess of our cash.

EQUIPMENT AND EMPLOYEES

As of December  31,  2006,  we have no  operating  business,  no  equipment,  or
employees.  We do not intend to develop our own  operating  business but instead
plan to merge with another operating company.

CONTINUING  OPERATIONAL EXPENSES FOR THE DEVELOPMENT STAGE PERIOD FROM AUGUST 1,
2005 TO DECEMBER 31, 2006 AND THE YEARS ENDED DECEMBER 31, 2006 AND 2005

                                       13
<PAGE>

As noted,  all  activity  associated  with  Entrust  Mortgage and its sale which
occurred  prior  to  July  31,  2005  has  been  accounted  for as  Discontinued
Operations  and,  as such,  is not  evaluated  in this  report as it has  little
relevance to our future operations.

The operating  expenses of $56,798 for the year ended  December 31, 2006 and the
cumulative  operating  expenses of $101,375  for the  developmental  period from
August  1,  2005 to  December  31,  2006  (the  "Development  Period")  resulted
primarily from accounting/auditing, legal and general administrative expenses.

Operating  expenses from  continuing  activities for the year ended December 31,
2006 were $56,798 as compared to $130,520 for the year ended  December 31, 2005.
These   expenses   consist   primarily   of  the  legal,   accounting,   general
administrative and filing related expenses incurred to prepare and file with the
SEC the reports  required of us by the Exchange Act and are of a continuing  and
recurring nature.

LIQUIDITY AND CAPITAL RESOURCES

At December  31,  2006,  we had current  assets  totaling  $16,687 in cash and a
working capital deficit of $6,867.

Net cash used in our  continuing  operating  activities  during the  development
period from August 1, 2005 to December  31, 2006 was  $55,641.  During the years
ended December 31, 2005 and 2006, we had no revenues.  As a result, cash on hand
decreased by $26,141 during the developmental  period ended December 31, 2006 to
$16,867.

Going Concern

Our financial  statements have been prepared assuming that we will continue as a
going concern. We had a working capital deficit at year end and do not expect to
achieve any revenues  (other than  insignificant  investment  income)  until the
consummation of a merger and we cannot ascertain our capital  requirements until
such time.  As such,  there is doubt  about our  ability to  continue as a going
concern.  The financial statements of the Company do not include any adjustments
that might be  necessary  should the  Company be unable to  continue  as a going
concern.

ITEM 7. FINANCIAL STATEMENTS.

     See the index to Financial Statements below, beginning on page F-1.


ITEM  8.  CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
          FINANCIAL DISCLOSURE.

On February 4, 2006,  we dismissed  Richey May & Co., LLP ("Richey  May") as our
independent  registered  accountant  and engaged Lazar Levine & Felix LLP. There
were

                                       14
<PAGE>

no disagreements, adverse opinions or disclaimer of opinion by Richey May at the
time of the change.

ITEM 8A. CONTROLS AND PROCEDURES.

EVALUATION  OF  DISCLOSURE  CONTROLS  AND  PROCEDURES.   Management,   with  the
participation of our president and the chief financial  officer,  carried out an
evaluation of the effectiveness of our "disclosure  controls and procedures" (as
defined in the Securities  Exchange Act of 1934, as amended (the "Exchange Act")
Rules  13a-15(e)  and  15-d-15(e))  as of the end of the period  covered by this
report (the "Evaluation  Date").  Based upon that evaluation,  the president and
the chief  financial  officer  concluded  that, as of the  Evaluation  Date, our
disclosure  controls and  procedures  are  effective to ensure that  information
required to be  disclosed  by us in the reports that we file or submit under the
Exchange Act (i) is recorded,  processed,  summarized  and reported,  within the
time periods  specified in the SEC's rules and forms and (ii) is accumulated and
communicated  to our  management,  including our  president and chief  financial
officer, as appropriate to allow timely decisions regarding required disclosure.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL  REPORTING.  There were no changes in
our internal  controls over financial  reporting that occurred during the period
covered by this report that has materially affected,  or is reasonably likely to
materially affect, our internal control over financial reporting.

ITEM 8B. OTHER INFORMATION

         None.


                                    PART III

ITEM 9. DIRECTORS,  EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE
        GOVERNANCE; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

The  following  table sets forth  information  concerning  our officers and sole
director as of January 30, 2007:

NAME                    AGE   TITLE
-------                -----  ------
Arnold P. Kling        48     President and sole director
Kirk M. Warshaw        48     Chief financial officer and secretary

ARNOLD P. KLING.  Mr.  Kling has served as a director  and our  president  since
August, 2005. Mr. Kling is currently a Managing Director of GH Venture Partners,
LLC, a private equity and merchant  banking boutique for which he also served as
a Managing  Director and General  Counsel  from 1995 to 1999.  From 1999 through
August  2005,  Mr.  Kling  was  the  president  of  Adelphia  Holdings,  LLC,  a
merchant-banking  firm,  as well  as the  managing  member  of  several  private
investment funds. From 1993 to 1995 he was a

                                       15
<PAGE>

senior executive and General Counsel of Buckeye  Communications,  Inc., a Nasdaq
listed licensing and multimedia  company.  From 1990 through 1993, Mr. Kling was
an associate and partner in the corporate and financial  services  department of
Tannenbaum,  Helpern,  Syracuse & Hirschtritt LLP, a mid-size New York law firm.
Mr.  Kling  received a Bachelor of Science  degree from New York  University  in
International  Business in 1980 and a Juris Doctor degree from Benjamin  Cardozo
School of Law in 1983. Mr. Kling currently serves as a director and president of
Twin Lakes Delaware,  Inc., R&R Acquisition  III, Inc., R&R Acquisition V, Inc.,
R&R Acquisition VI, Inc., R&R  Acquisition  VII, Inc. and R&R Acquisition  VIII,
Inc., R&R Acquisition,  Inc., IX, and R&R Acquisition, Inc., X, (each a publicly
reporting, non-trading company), and 24 Holdings, Inc. (OTCBB:TWFH).

KIRK M.  WARSHAW.  Mr.  Warshaw  has served as our chief  financial  officer and
secretary since August, 2005. Mr. Warshaw is a financial professional who, since
1990, has provided clients in a multitude of different industries with advice on
accounting,  corporate finance, and general business matters.  Prior to starting
his own  consulting  firm,  from  1983 to 1990,  he held the  various  titles of
controller,  chief financial officer,  president, and chief executive officer at
three separate financial institutions in New Jersey. From 1980 through 1983, Mr.
Warshaw  was a Senior  Accountant  at the public  accounting  firm of  Deloitte,
Haskins & Sells.  Mr.  Warshaw is a 1980 graduate of Lehigh  University  and has
been a CPA in New  Jersey  since  1982.  Mr.  Warshaw  is  currently  the  chief
financial  officer of Twin Lakes Delaware,  Inc. R&R Acquisition  III, Inc., R&R
Acquisition V, Inc., R&R Acquisition  VI, Inc., R&R  Acquisition  VII, Inc., R&R
Acquisition VIII, Inc., R&R Acquisition, Inc., IX, and R&R Acquisition, Inc., X,
(each a publicly reporting,  non-trading  company),  the chief financial officer
and a Director of 24 Holdings, Inc. (OTCBB:TWFH), a director of Empire Financial
Holding Company (AMEX:EFH), and a director of two privately owned entities.

Mr.  Kling and Mr.  Warshaw are not  required  to commit  their full time to our
business  affairs and they will not devote a  substantial  amount of time to our
business affairs.

COMPENSATION AND AUDIT COMMITTEES

As we only have one board  member and given our  limited  operations,  we do not
have separate or  independent  audit or  compensation  committees.  Our Board of
Directors has  determined  that it does not have an "audit  committee  financial
expert," as that term is defined in Item 401(e) of Regulation  S-B. In addition,
we have not adopted  any  procedures  by which our  stockholders  may  recommend
nominees to our board.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act requires our directors and executive  officers
and  persons  who  beneficially  own more than ten  percent of our common  stock
(collectively,  the  "Reporting  Persons")  to  report  their  ownership  of and
transactions  in our common stock to the SEC.  Copies of these  reports are also
required to be supplied to us. To our  knowledge,  during the fiscal year ending
December 31, 2006 the Reporting  Persons  complied with all  applicable  Section
16(a) reporting requirements.

                                       16
<PAGE>

CODE OF ETHICS

We have not  adopted a Code of Ethics  given our limited  operations.  We expect
that our Board of Directors following a merger or other acquisition  transaction
will adopt a Code of Ethics.

ITEM 10. EXECUTIVE COMPENSATION.

Arnold Kling and Kirk Warshaw are our sole officers and Arnold Kling is our sole
director.  Neither receives any regular compensation for their services rendered
on our behalf. Since the Entrust Stock Sale we have paid no cash compensation to
our  officers  or  directors.  On  November  1,  2005,  our  Board of  Directors
authorized  the  issuance  of 69,643  shares of our common  stock to each of Mr.
Kling and Mr.  Warshaw for  services  they  provided to us. Each stock grant was
determined  to be  worth  $7,800  and the  expense  was  recognized  in the 2005
financial   statements.   Neither  Mr.  Kling  nor  Mr.  Warshaw   received  any
compensation  during the year ended December 31, 2006. No officer or director is
required  to make  any  specific  amount  or  percentage  of his  business  time
available to us.

While we do not presently anticipate engaging the services of professional firms
that  specialize in finding  business  acquisitions  on any formal basis, we may
engage  such firms in the  future,  in which  event we may be  required to pay a
finder's fee or other compensation. In no event, however, will we pay a finder's
fee or  commission to any of our officers and directors or any entity with which
an officer or  director is  affiliated.  We do not have any  incentive  or stock
option plan in effect.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The  following  table sets forth  certain  information  as of January  30,  2007
regarding  the number and  percentage  of common  stock  (being our only  voting
securities)  beneficially  owned  by each  officer  and  director,  each  person
(including any "group" as that term is used in Section  13(d)(3) of the Exchange
Act) known by us to own 5% or more of our common  stock,  and all  officers  and
directors as a group.


<TABLE>
<CAPTION>
                                                        Amount and Nature of             Percentage of
Name (1)                                                Beneficial Ownership (1)         Shares Owned
--------                                                ------------------------         -------------
<S>                                                     <C>                              <C>
R&R Biotech Partners, LLC                               1,414,286                        68.7%
1270 Avenue of the Americas - 16th Floor
New York, NY 10020
Attention: Thomas Pinou, CFO
</TABLE>

                                       17
<PAGE>

<TABLE>
<S>                                                     <C>                              <C>
Moyo Partners, LLC (2)                                  353,571                          17.2%
c/o Arnold P. Kling
712 Fifth Avenue - 11th Floor
New York, NY 10019

Arnold P. Kling (3)                                     423,214                          20.6%
712 Fifth Avenue - 11th Floor
New York, NY 10019

Kirk M. Warshaw (4)                                     69,643                           3.4%
47 School Avenue
Chatham, NJ 07928

All Officers and Directors as a Group                   492,857                          24.0%
(2 persons)
</TABLE>

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

(1)      Unless  otherwise  indicated,  the  company has been  advised  that all
individuals  or  entities  listed have the sole power to vote and dispose of the
number of shares set forth opposite  their names.  For purposes of computing the
number and percentage of shares  beneficially  owned by a security  holder,  any
shares  which such person has the right to acquire  within 60 days from  January
30,  2007 are deemed to be  outstanding,  but those  shares are not deemed to be
outstanding  for the purpose of computing the percentage  ownership of any other
security holder.

(2)      Arnold P. Kling,  our  president and our sole  director,  controls Moyo
Partners,  LLC and therefore is the beneficial  owner of the shares held by this
entity.

(3)      Includes all the shares held by Moyo Partners, LLC.

(4)      Mr. Warshaw is our chief financial officer and secretary.

We currently do not maintain any equity compensation plans.

ITEM  12.  CERTAIN   RELATIONSHIPS  AND  RELATED   TRANSACTIONS,   AND  DIRECTOR
           INDEPENDENCE.

None.

                                       18
<PAGE>

ITEM 13.  EXHIBITS.

           EXHIBIT
             NO.                          DESCRIPTION
             ---                          -----------

             2.1       Agreement and Plan of Merger  between  Entrust  Financial
                       Services, Inc. and Enthrust Financial Services, Inc.(1)

             2.2       Statement of Merger filed with the Colorado  Secretary of
                       State(1)

             2.3       Certificate  of Merger filed with the Delaware  Secretary
                       of State(1)

             3.1       Certificate  of  Incorporation   of  Enthrust   Financial
                       Services, Inc.(1)

             3.2       Bylaws of Enthrust Financial Services, Inc.(1)

            31.1       Certification of the President pursuant to section 302 of
                       the Sarbanes-Oxley Act of 2002*

            31.2       Certification of the Chief Financial  Officer pursuant to
                       section 302 of the Sarbanes-Oxley Act of 2002*

            32.1       Certification of the President pursuant to section 906 of
                       the Sarbanes-Oxley Act of 2002*

            32.2       Certification of the Chief Financial  Officer pursuant to
                       section 906 of the Sarbanes-Oxley Act of 2002*

-------
*    Filed with this report

(1) Filed as an exhibit to the  Current  Report on Form 8-K filed on January 22,
2007 and incorporated herein by reference.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

AUDIT FEES

We paid audit and financial  statement  review fees totaling  $8,000 and $5,000,
respectively  to Lazar Levine & Felix LLP,  our  independent  registered  public
accounting firm for the years ended December 31, 2006 and 2005, respectively.

AUDIT-RELATED FEES

None.

TAX FEES

We paid tax  preparation  fees totaling  $1,000 to Lazar Levine & Felix LLP, our
current  independent  registered  public  accounting  firm for each of the years
ended December 31, 2006 and 2005, respectively.

ALL OTHER FEES

None.

                                       19
<PAGE>

AUDIT COMMITTEE POLICIES AND PROCEDURES

We do not currently  have a standing  audit  committee.  The above services were
approved by our Board of Directors.

                                       20
<PAGE>

                                   SIGNATURES

In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                    ENTHRUST FINANCIAL SERVICES, INC.

Date: February 7, 2007


                                    By: /s/ Arnold P. Kling
                                    -----------------------
                                    Arnold P. Kling, President



In  accordance  with the Exchange  Act, this report has been signed below by the
following  persons on behalf of the  registrant and in the capacities and on the
dates indicated.

Date: February 7, 2007


                                    By: /s/ Arnold P. Kling
                                    -----------------------
                                    Arnold P. Kling, President, Sole Director
                                    (Principal Executive Officer)



Date: February 7, 2007


                                    By: /s/ Kirk M. Warshaw
                                    ------------------------------
                                    Kirk M. Warshaw, Chief Financial Officer
                                    (Principal Financial and Accounting Officer)


                                       21
<PAGE>

                        ENTHRUST FINANCIAL SERVICES, INC.
                          (A DEVELOPMENT STAGE COMPANY)

INDEX

Report of Independent Registered Public Accounting Firm                     F-2.

Financial Statements:

Balance Sheets as of December 31, 2006 and 2005                             F-3.

Statements of Operations for the Development Stage Period (August 1,
2005 to December 31, 2006) and the Years Ended December 31, 2006 and
2005
                                                                            F-4.

Statement of  Stockholders' Equity (Deficit)for the Years Ended December
31, 2006 and  2005, including the Development Stage Period (August 1,
2005 to December 31, 2006)
                                                                            F-5.

Statements of Cash Flows for the Development Stage (August 1, 2005
to December 31, 2006) and the Years Ended December 31, 2006 and 2005        F-6.

Notes to Financial Statements                                               F-7.


                                     F - 1
<PAGE>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholders
Enthrust Financial Services, Inc.
Chatham, New Jersey

We have audited the accompanying  balance sheets of Enthrust Financial Services,
Inc. (a  development  stage  company  and  formerly  known as Entrust  Financial
Services,  Inc.), as of December 31, 2006 and 2005 and the related statements of
operations,  stockholders'  equity  (deficit)  and cash flows for the years then
ended and the statements of operations, stockholders' equity (deficit), and cash
flows for the  development  stage  period  August 1, 2005 to December  31, 2006.
These financial  statements are the responsibility of the Company's  management.
Our responsibility is to express an opinion on these financial  statements based
on our audits.

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

In our opinion,  the financial  statements referred to above, present fairly, in
all material respects,  the financial  position of Enthrust Financial  Services,
Inc. (a  development  stage  company) as of December 31, 2006 and 2005,  and the
results  of its  operations  and its cash flows for the years then ended and for
the development  stage period August 1, 2005 to December 31, 2006, in conformity
with accounting principles generally accepted in the United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial  statements,  the  Company  has been in the  development  stage  since
inception.  The  Company's  lack of  financial  resources  and  liquidity  raise
substantial doubt about its ability to continue as a going concern. Management's
plans in regard  to this  matter  are also  described  in Note 1. The  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainty.
                           /s/LAZAR LEVINE & FELIX LLP
                           ---------------------------
                            LAZAR LEVINE & FELIX LLP
New York, New York
February 2, 2007

                                     F - 2
<PAGE>

                        ENTHRUST FINANCIAL SERVICES, INC
                          (A Development Stage Company)
                                 BALANCE SHEETS



                                                     DECEMBER 31    DECEMBER 31
                             ASSETS                     2006            2005
                                                     --------------------------

Cash                                                 $    16,867    $    34,673
                                                     -----------    -----------

TOTAL ASSETS                                         $    16,867    $    34,673
                                                     ===========    ===========


    LIABILITIES AND STOCKHOLDERS' EQUITY
                  (DEFICIT)

Accounts Payable & accrued expenses                  $    23,734    $    14,242
                                                     -----------    -----------

Total liabilities                                         23,734         14,242
                                                     -----------    -----------

STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock; $0.001 par value, 1,000,000
authorized, none issued                                       --             --
Common stock, $.001 par value; 100,000,000 shares
authorized, 2,057,771 shares issued and outstanding        2,058          2,058
Additional paid-in capital                             8,154,998      8,125,498
Accumulated deficit                                   (8,062,548)    (8,062,548)
Deficit accumulated during the development period       (101,375)       (44,577)
                                                     -----------    -----------
   Total stockholders' equity (deficit)                   (6,867)        20,431
                                                     -----------    -----------

TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT)                                     $    16,867    $    34,673
                                                     ===========    ===========


   The accompanying notes are an integral part of these financial statements.

                                     F - 3
<PAGE>

                        ENTHRUST FINANCIAL SERVICES, INC
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS



<TABLE>
<CAPTION>
                                                      Cumulative During
                                                       the Development
                                                            Stage                     Year Ended
                                                      August 1, 2005 to              December 31,
                                                      December 31, 2006         2006            2005
                                                      -----------------      ---------------------------
<S>                                                      <C>                 <C>             <C>
REVENUES                                                 $        --         $        --     $        --
                                                         -----------         ---------------------------

Expenses

   Compensation expense                                       15,600                  --          15,600
   Professional fees                                          71,029              46,364          91,192
   Filing and stockholder expense                             14,218               9,923          23,711
   Other expenses                                                528                 511              17
                                                         -----------         ---------------------------


   Total expenses                                            101,375              56,798         130,520
                                                         -----------         ---------------------------


Net loss from continuing operations                         (101,375)            (56,798)       (130,520)


Income from discontinued operations, net of taxes                 --                  --         119,960
                                                         -----------         ---------------------------

Net loss                                                 $  (101,375)        $   (56,798)    $   (10,560)
                                                         ===========         ===========================

Basic and diluted loss per share
   from continuing operations                                                $     (0.03)    $     (0.16)
Basic and diluted earnings per share
   from discontinued operations                                              $        --     $      0.15
                                                                             ---------------------------

Basic and diluted loss per share                                             $     (0.03)    $     (0.01)
                                                                             ---------------------------

Basic and diluted weighted average
   shares outstanding                                                          2,057,771         803,461
                                                                             ===========================
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                     F - 4
<PAGE>
                        ENTHRUST FINANCIAL SERVICES, INC.
                          (A Development Stage Company)
             STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)



<TABLE>
<CAPTION>
                                                                                                        Deficit
                                                                                                      Accumulated
                                                     Common Stock           Additional    Retained     During the        Total
                                           -------------------------------   Paid-in      Earnings     Development    Stockholders'
                                                  Shares        Amount       Capital      (Deficit)       Stage        Deficiency
                                           -----------------------------------------------------------------------------------------
<S>                                                 <C>      <C>           <C>           <C>            <C>            <C>
Balance at December 31, 2004                        93,484   $        94   $ 7,605,462   $(7,696,565)   $        --    $   (91,009)


Sale of common stock for cash                    1,767,858         1,768       498,232                                     500,000


Dividend paid                                           --            --            --      (400,000)            --       (400,000)

Issuance of compensatory shares for fair
   value of services                               196,429           196        21,804            --             --         22,000


Net loss for year ended December 31, 2005               --            --            --        34,017        (44,577)       (10,560)
                                           -----------------------------------------------------------------------------------------


Balance at December 31, 2005                     2,057,771         2,058     8,125,498    (8,062,548)       (44,577)        20,431


Additional paid-in-capital contributions                --            --        29,500            --                        29,500


Net loss for year ended December 31, 2006               --            --            --            --        (56,798)       (56,798)
                                           -----------------------------------------------------------------------------------------


Balance at December 31, 2006                     2,057,771   $     2,058   $ 8,154,998   $(8,062,548)   $  (101,375)   $    (6,867)
                                           =========================================================================================
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                     F - 5
<PAGE>

                        ENTHRUST FINANCIAL SERVICES, INC
                          (A Development Stage Company)
                             STATEMENT OF CASH FLOWS


<TABLE>
<CAPTION>
                                                                       Cumulative During
                                                                       the Development
                                                                             Stage                           Year Ended
                                                                       August 1, 2005 to                    December 31,
                                                                       December 31, 2006               2006               2005
                                                                   ----------------------------------------------------------------
<S>                                                                      <C>                    <C>                    <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                                                 $   (101,375)          $    (56,798)          $    (10,560)
Adjustments to reconcile net loss to net cash (used)
   provided by operating activities:
   Gain on sale of discontinued operations                                         --                     --               (382,729)
   Depreciation                                                                    --                     --                146,177
   Compensatory shares                                                         22,000                     --                 22,000
(Increase) decrease in:
   Accounts receivable                                                             --                     --                (37,287)
   Mortgage loans held for sale                                                    --                     --             19,613,277
   Prepaid expenses and other assets                                               --                     --                 (9,828)
Increase (decrease) in:
   Accounts payable and accrued expenses                                       23,734                  9,492                     --
   Accrued other expenses                                                          --                     --               (157,494)
                                                                   -----------------------------------------------------------------

Net cash (used) provided by operating activities                              (55,641)               (47,306)            19,183,556
                                                                   -----------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES
Sale of property & equipment                                                       --                     --                (16,050)
Decrease in restricted cash                                                        --                     --                  2,805
                                                                   -----------------------------------------------------------------

Net cash used by investing activities                                              --                     --                (13,245)
                                                                   -----------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
Net repayments, warehouse lines of credit                                          --                     --            (19,534,785)
Repayment of long-term debt                                                        --                     --               (761,570)
Proceeds from sale of stock                                                        --                     --                500,000
Payment of dividend                                                                --                     --               (400,000)
Repayments, capital lease obligations                                              --                     --                (40,438)
Additional paid-in-capital contributions                                       29,500                 29,500                     --
                                                                   -----------------------------------------------------------------

Net cash provided (used)  by financing activities                              29,500                 29,500            (20,236,793)
                                                                   -----------------------------------------------------------------


Decrease in cash                                                              (26,141)               (17,806)            (1,066,482)

Cash, at beginning of period                                                   43,008                 34,673              1,101,155
                                                                   -----------------------------------------------------------------

Cash, at end of period                                                   $     16,867           $     16,867           $     34,673
                                                                   =================================================================

SUPPLEMENTAL INFORMATION

Cash Paid for Income Taxes                                               $         --           $         --           $         --

Cash Paid for Interest                                                   $         --           $         --           $         --
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                     F - 6
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 1 - DESCRIPTION OF COMPANY:

We were  organized  on  November 8, 1996 under the laws of the State of Colorado
initially as "Centennial Banc Share  Corporation".  We subsequently  changed our
name  to  "Entrust  Financial  Services,   Inc."  on  April  6,  2001  ("Entrust
Colorado").  On December 4, 2006, Entrust Colorado's Board of Directors approved
the merger of Entrust Colorado with and into Enthrust Financial  Services,  Inc.
("EFS" or the "Company"), a corporation organized on December 20, 2006 under the
laws of the State of Delaware solely for the purpose of the merger.

Effective January 11, 2007,  Entrust Colorado was merged with and into EFS which
became the  surviving  corporation  (the  "Delaware  Merger").  Every issued and
outstanding share of Entrust Colorado common stock was  automatically  exchanged
into one share of EFS common stock and our current  authorized capital structure
consists of 100,000,000  shares of common stock, par value $0.001 per share, and
1,000,000  shares of blank check preferred stock, par value $0.001 per share. In
conjunction  with the Delaware  Merger,  our name changed to Enthrust  Financial
Services, Inc.

Effective  September 18, 2006, Entrust Colorado completed a one-for twenty eight
reverse split of its issued and outstanding shares of common stock. As a result,
the number of issued and outstanding shares of Entrust Colorado common stock was
reduced from 57,612,295 to 2,057,771 shares (the "Reverse Split").

Unless otherwise  stated,  all share and per share  information in the financial
statements  and  description  below is  presented  as if the  Reverse  Split and
Delaware Merger took place at the beginning of all periods presented.

We were  initially  formed  for the  purpose of  developing  and  maintaining  a
mortgage brokerage business. In April 1999, we acquired Entrust Mortgage,  Inc.,
a mortgage banking business which became our wholly-owned subsidiary and was our
primary  business until July 31, 2005  ("Entrust  Mortgage").  Entrust  Mortgage
engaged  primarily in the origination and wholesale  purchase of  non-conforming
residential mortgage loans in thirty-eight states.

On July 31, 2005,  Entrust  Mortgage  was sold to BBSB,  LLC in exchange for the
cancellation of all obligations  owed by us and Entrust Mortgage to BBSB and the
assumption  of certain of our third party  obligations  (the  "Entrust  Mortgage
Sale").

The  Company's  stockholders  did not receive any  consideration  in the Entrust
Mortgage Sale, but stockholders of record on July 25, 2005,  received a one time
aggregate dividend from the Entrust Stock Sale (as described below) of $400,000,
or  approximately  $0.153 per share  (pre-split)  The remaining  $100,000 of the
consideration paid by the Entrust Stock Purchasers (as described below) was used
to satisfy or reserve for the Company's

                                     F - 7
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 1 - DESCRIPTION OF COMPANY (Continued):

liabilities  and to pay the expenses  related to the Entrust  Stock Sale.  As of
August 6, 2005, the Company's headquarters was relocated to Chatham, New Jersey.

Following the Entrust Mortgage Sale, we had no operations. Since August 1, 2005,
the  Company's  purpose  has been to serve as a vehicle to acquire an  operating
business and is currently  considered a "shell" company  inasmuch as the Company
is not  generating  revenues,  does not own an  operating  business,  and has no
specific plan other than to engage in a merger or acquisition transaction with a
yet-to-be  identified  company or business.  The Company has no employees and no
material assets.

Accordingly,  the  Company  is  considered  to  be a  development  stage  entity
beginning on August 1, 2005.

Due to the Company's lack of financial resources and accumulated deficit,  there
is doubt  about its  ability to  continue  as a going  concern.  The  Company is
seeking  to acquire a  business  and is  currently  considered  a "blank  check"
company in as much as the Company is not  generating  revenues,  does not own an
operating  business and has no specific  business plan other than to engage in a
merger  or  acquisition  transaction  with a  yet-to-be  identified  company  or
business.  The Company has no employees and no material  assets.  Administrative
services are currently  being provided by an entity  controlled by an officer of
the Company at no charge.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

The Company's  accounting policies are in accordance with accounting  principles
generally accepted in the United States of America ("GAAP").  Outlined below are
those policies considered particularly significant.

(a) USE OF ESTIMATES:

In preparing  financial  statements in accordance  with GAAP,  management  makes
certain estimates and assumptions,  where  applicable,  that affect the reported
amounts of assets and  liabilities  and  disclosures  of  contingent  assets and
liabilities  at the date of the  financial  statements,  as well as the reported
amounts of revenues  and  expenses  during the  reporting  period.  While actual
results  could  differ  from those  estimates,  management  does not expect such
variances, if any, to have a material effect on the financial statements.

                                     F - 8
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(b) STATEMENTS OF CASH FLOWS:

For purposes of the  statements  of cash flows the Company  considers all highly
liquid  investments  purchased with a remaining maturity of three months or less
to be cash equivalents.

(c) EARNINGS (LOSS) PER SHARE:

Basic  earnings  (loss) per share has been computed on the basis of the weighted
average  number  of common  shares  outstanding  during  each  period  presented
according  to the  provisions  of SFAS No. 128  "EARNINGS  PER  SHARE".  Diluted
earnings (loss) per share has not been presented separately as the effect of the
common stock purchase options (140,000) outstanding, on such calculation,  would
have been anti-dilutive. Such securities could potentially dilute basic earnings
per share in the future.

(d) INCOME TAXES:

The asset and  liability  method is used in accounting  for income taxes.  Under
this method,  deferred tax assets and  liabilities  are recognized for operating
loss  and  tax  credit  carry  forwards  and  for the  future  tax  consequences
attributable to differences  between the financial statement carrying amounts of
existing  assets and liabilities  and their  respective tax bases.  Deferred tax
assets and liabilities are measured using enacted tax rates expected to apply to
taxable income in the years in which those temporary differences are expected to
be recovered or settled.  The effect on deferred tax assets and liabilities of a
change in tax rates is  recognized  in the results of  operations  in the period
that  includes the enactment  date. A valuation  allowance is recorded to reduce
the carrying  amounts of deferred  tax assets  unless it is more likely than not
that such assets will be realized.

(e) STOCK OPTIONS:

Effective  January 1, 2006,  the  Company  has  accounted  for stock  options in
accordance  with the  recognition  and  measurement  provisions  of Statement of
Financial  Accounting  Standards  ("FAS") No. 123  (revised  2004),  Share-Based
Payment ("FAS 123(R)"),  which replaces FAS No. 123,  Accounting for Stock-Based
Compensation, and supersedes Accounting Principles Board Opinion ("APB") No. 25,
Accounting for Stock Issued to Employees, and related  interpretations.  FAS 123
(R) requires  compensation  costs related to share-based  payment  transactions,
including employee stock options, to be recognized in the financial  statements.
In addition, the Company adheres to the guidance set forth within Securities and
Exchange  Commission  ("SEC") Staff  Accounting  Bulletin ("SAB") No. 107, which
provides the Staff's views regarding the interaction between FAS No.

                                     F - 9
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(e) STOCK OPTIONS (Continued):

123(R) and certain SEC rules and regulations and provides  interpretations  with
respect to the valuation of share-based payments for public companies.

Prior to January 1, 2006,  the Company  accounted  for similar  transactions  in
accordance  with  APB No.  25 which  employed  the  intrinsic  value  method  of
measuring   compensation  cost.   Accordingly,   compensation  expense  was  not
recognized  for fixed stock options if the exercise  price of the option equaled
or exceeded the fair value of the underlying stock at the grant date.

While FAS No. 123 encouraged  recognition  of the fair value of all  stock-based
awards on the date of grant as expense over the vesting  period,  companies were
permitted to continue to apply the  intrinsic  value-based  method of accounting
prescribed by APB No. 25 and disclose certain  pro-forma  amounts as if the fair
value  approach of FAS No. 123 had been applied.  In December 2002, FAS No. 148,
Accounting for Stock-Based  Compensation-Transition and Disclosure, an amendment
of FAS No. 123, was issued,  which, in addition to providing alternative methods
of transition for a voluntary  change to the fair value method of accounting for
stock-based employee compensation, required more prominent pro-forma disclosures
in both the annual and interim financial  statements.  The Company complied with
these  disclosure  requirements  for all applicable  periods prior to January 1,
2006.

In adopting FAS 123(R), the Company applied the modified prospective approach to
transition.  Under the modified  prospective  approach,  the  provisions  of FAS
123(R)  are to be applied to new  awards  and to  outstanding  awards  modified,
repurchased,  or cancelled  after the  required  effective  date.  Additionally,
compensation  cost for the portion of awards for which the requisite service has
not been rendered that are  outstanding as of the required  effective date shall
be  recognized  as the  requisite  service is rendered on or after the  required
effective date. The compensation  cost for that portion of awards shall be based
on  the  grant-date  fair  value  of  those  awards  as  calculated  for  either
recognition or pro-forma disclosures under FAS 123.

                                     F - 10
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(e) STOCK OPTIONS (Continued):

Pro Forma  Information  under SFAS No. 123 for Periods  Prior to Adoption of FAS
123 (R):

The  following   table   illustrates   the  effect  on  net   income(loss)   and
earnings(loss) per share as if the fair value recognition  provisions of FAS No.
123 had been applied to all  outstanding  and unvested  awards in the prior year
comparable period.

                                                                       2005
Net loss to common stockholders as reported                            $(10,560)
Deduct: Total stock-based employee compensation expense
determined under fair value based method for all awards, net of
related tax effects                                                       4,700
                                                                       --------
Pro forma Net Loss                                                     $(15,260)
                                                                       ========
Basic and diluted net loss per share:
As reported                                                              $(0.00)
Pro forma                                                                $(0.01)


The fair value of each option grant was estimated on the date of the grant using
the   Black-Scholes   option-pricing   model  with  the  following   approximate
weighted-average  assumptions  for the year ended  December 31,  2005:  expected
volatility of 127%; average risk-free interest rate of 1.12%; and expected lives
of 3 years.

                                     F - 11
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(f) NEW ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY:

 FASB 157 - Fair Value Measurements

In September  2006,  the Financial  Accounting  Standard Board issued a standard
that  provides  enhanced  guidance  for using fair  value to measure  assets and
liabilities.  The standard applies whenever other standards  require (or permit)
assets or liabilities to be measured at fair value. The standard does not expand
the use of fair value in any new circumstances.

This  Statement is effective  for financial  statements  issued for fiscal years
beginning  after  November 15,  2007,  and interim  periods  within those fiscal
years. Earlier application is encouraged, provided that the reporting entity has
not yet issued financial  statements for that fiscal year,  including  financial
statements for an interim period within that fiscal year.

SEC Staff Accounting Bulletin 107 - Implementation Guidance for FASB 123 (R)

The staff  believes the guidance in the SAB will assist issuers in their initial
implementation  of  Statement  123R and  enhance  the  information  received  by
investors and other users of financial  statements,  thereby  assisting  them in
making investment and other decisions.  This SAB includes  interpretive guidance
related to share-based payment  transactions with non-employees,  the transition
from nonpublic to public entity status, valuation methods (including assumptions
such as expected  volatility  and expected  term),  the  accounting  for certain
redeemable financials instruments issued under share-based payment arrangements,
the  classification  of  compensation  expense,   non-GAAP  financial  measures,
first-time  adoption of Statement 123R in an interim period,  capitalization  of
compensation cost related to share-based  payment  arrangements,  the accounting
for income tax effects of  share-based  payment  arrangements  upon  adoption of
Statement 123R and disclosures of MD&A subsequent to adoption of Statement 123R.

SEC Staff  Accounting  Bulletin  108 -  Considering  the  Effects  of Prior Year
Misstatements when Qualifying Misstatements in Current Year Financial Statements

In  September  2006,  the SEC staff issued  Staff  Accounting  Bulletin No. 108,
"Considering   the  Effects  of  Prior  Year   Misstatements   when  Quantifying
Misstatements in Current Year Financial Statements." SAB 108 was issued in order
to eliminate the diversity of practice surrounding how public companies quantify
financial statement misstatements.

                                     F - 12
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(f) NEW ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY (continued):

Traditionally, there have been two widely-recognized methods for quantifying the
effects of financial  statement  misstatements:  the "roll-over"  method and the
"iron curtain" method. The roll-over method focuses primarily on the impact of a
misstatement on the income  statement--including  the reversing  effect of prior
year misstatements--but its use can lead to the accumulation of misstatements in
the balance sheet. The iron-curtain method, on the other hand, focuses primarily
on the effect of correcting the  period-end  balance sheet with less emphasis on
the reversing effects of prior year errors on the income statement.

In SAB 108, the SEC staff  established an approach that requires  quantification
of financial  statement  misstatements based on the effects of the misstatements
on  each  of the  company's  financial  statements  and  the  related  financial
statement  disclosures.  This model is commonly referred to as a "dual approach"
because it requires quantification of errors under both the iron curtain and the
roll-over methods.  SAB 108 permits existing public companies to initially apply
its  provisions  either by (i) restating  prior  financial  statements as if the
"dual approach" had always been used or (ii) recording the cumulative  effect of
initially  applying the "dual approach" as adjustments to the carrying values of
assets  and  liabilities  as of January  1, 2006 with an  offsetting  adjustment
recorded to the opening balance of retained earnings.


FIN 48 - Accounting for Uncertainty in Income Taxes

In July 2006,  the  Financial  Accounting  Standards  Board  (FASB)  issued FASB
Interpretation   No.  48,   ACCOUNTING  FOR  UNCERTAINTY  IN  INCOME   TAXES--AN
INTERPRETATION OF FASB STATEMENT NO. 109 (FIN 48), which provides  clarification
related to the process  associated  with  accounting for uncertain tax positions
recognized  in   consolidated   financial   statements.   FIN  48  prescribes  a
more-likely-than-not   threshold  for  financial   statement   recognition   and
measurement of a tax position  taken,  or expected to be taken, in a tax return.
FIN 48 also provides  guidance  related to, among other things,  classification,
accounting  for  interest  and  penalties  associated  with tax  positions,  and
disclosure  requirements.  We are  required to adopt FIN 48 on November 1, 2007,
although early adoption is permitted.

                                     F - 13
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):

(f) NEW ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY (continued):

FSP FAS 123(R)-5, Amendment of FASB Staff Position FAS 123(R)-1

FSP FAS  123(R)-5  was  issued  on  October  10,  2006.  The FSP  provides  that
instruments  that were  originally  issued  as  employee  compensation  and then
modified, and that modification is made to the terms of the instrument solely to
reflect an equity  restructuring  that  occurs  when the  holders  are no longer
employees, then no change in the recognition or the measurement (due to a change
in  classification)  of those  instruments  will result if both of the following
conditions are met: (a). There is no increase in fair value of the award (or the
ratio of intrinsic  value to the exercise price of the award is preserved,  that
is, the holder is made whole), or the antidilution provision is not added to the
terms of the award in  contemplation  of an equity  restructuring;  and (b). All
holders of the same class of equity instruments (for example, stock options) are
treated in the same manner.  The  provisions in this FSP shall be applied in the
first  reporting  period  beginning after the date the FSP is posted to the FASB
website.  We will  evaluate  whether the  adoption  will have any impact on your
financial statements.

                                     F - 14
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 3 - DISCONTINUED OPERATIONS:

On July 31,  2005,  Entrust  Mortgage,  a wholly owned  subsidiary,  was sold in
exchange for the cancellation of all obligations owed by Entrust Mortgage to the
acquirer  and the  assumption  of  certain  of Entrust  Mortgage's  third  party
obligations by the acquirer ("the Entrust Mortgage Sale"). Following the Entrust
Mortgage Sale, we had no operations.

Effective with the filing of our Form 10-QSB for the quarter ended September 30,
2005, we have accounted for the Entrust Mortgage Sale and the related operations
as  discontinued  operations  per SFAS 144  "Accounting  for the  Impairment  or
Disposal of Long-Lived Assets."

Because the  liabilities  assumed by the acquirer  utilized in the  operation of
Entrust Mortgage  exceeded the assets, a net gain of $382,729  resulted from the
Entrust Mortgage Sale. This gain on sale coupled with a loss for the period from
the  discontinued  operations  of $262,769  results in income from  discontinued
operations net of taxes of $119,960 for the year ended December 31, 2005.

NOTE 4 - STOCKHOLDERS' EQUITY:

On July 26,  2005,  at a special  meeting  of the  shareholders,  the  Company's
shareholders   ratified  and   approved   the   amendment  of  the  Articles  of
Incorporation  of the Company to increase the authorized  shares of common stock
("Common Stock") from 50,000,000 to 100,000,000 shares.

On August 5,  2005,  Arnold P. Kling and R&R  Biotech  Partners,  LLC  purchased
1,767,858 shares (49,500,000 pre-reverse split shares - see below) of our Common
Stock  in  exchange  for  aggregate  gross  proceeds  of  $500,000.   Mr.  Kling
subsequently  assigned  his  interests  under  the  Purchase  Agreement  to Moyo
Partners, LLC ("Moyo") an entity which Mr. Kling controls.

On November 1, 2005,  a total of 196,429  shares  (5,500,000  pre-reverse  split
shares) of our Common Stock were  authorized  for issuance to three  individuals
who  provided  services  to the  Company.  We issued  69,643  shares  (1,950,000
pre-reverse  split  shares) to each of Arnold  Kling and Kirk  Warshaw for their
services as the Company's  president and chief financial officer,  respectively,
and 57,143 shares (1,600,000  pre-reverse split shares) to MBA Investors,  Ltd.,
an affiliated  company of Thomas Pierson,  a consultant,  for services rendered.
Messrs.  Kling  and  Warshaw's  services  were  valued  at  $7,800  each and Mr.
Pierson's services at $6,400.

                                     F - 15
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 4 - STOCKHOLDERS' EQUITY (Continued):

On September 18, 2006, the Company effected a one-for-twenty eight reverse split
of its issued and outstanding  shares of Common Stock.  As a result,  as of that
date,  the number of issued and  outstanding  shares of Common Stock was reduced
from 57,612,295 to 2,057,771  shares.  As of September 30, 2006, the Company had
100,000,000  shares of Common  Stock  authorized  of which  2,057,771  shares of
Common  Stock were issued and  outstanding.  This  reverse  stock split has been
reflected in the  financial  statements  retroactively  to the  earliest  period
presented.

During June and November,  2006, a shareholder  contributed $15,000 and $14,500,
respectively, to the Company as additional paid-in-capital.

Effective January 11, 2007,  Entrust Colorado was merged with and into EFS which
became the surviving corporation.  Every issued and outstanding share of Entrust
Colorado was  automatically  exchanged  into one (1) share of EFS (the "Delaware
Merger"), and our current capital structure consists of total authorized capital
stock of 101,000,000  shares of which  100,000,000  shares are common stock, par
value $0.001 per share,  and  1,000,000  shares are preferred  stock,  par value
$0.001 per share. In conjunction with the Delaware  Merger,  we changed our name
to  Enthrust  Financial  Services,  Inc.  As of December  31,  2006,  there were
2,057,771  shares of common  stock and no shares of  preferred  stock issued and
outstanding.  All  shares of common  stock  currently  outstanding  are  validly
issued, fully paid, and non-assessable.


NOTE 5 - STOCK OPTIONS AND WARRANTS:

The following  information is provided  regarding  stock options  granted by the
Company:

                                                               WEIGHTED AVERAGE
                                       SHARES SUBJECT TO      EXERCISE PRICE PER
                                      OUTSTANDING OPTIONS            SHARE
December 31, 2004                            150,000                  $35.84
Granted                                           --

Exercised/Cancelled                          (50,000)                 $56.00
                                            --------
December 31, 2005                            100,000                  $15.40
Granted                                           --
Cancelled                                   (100,000)                 $15.40
                                            --------
December 31, 2006                                -0-
                                                 ===

                                     F - 16
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 6 - INCOME TAXES:

                                                      2006              2005
                                                   -----------      -----------
Deferred tax assets and liabilities consist of the
following:

Deferred tax assets:
    Net operating loss carry forwards              $ 1,556,000      $ 1,530,000

    Less valuation allowance                        (1,556,000)      (1,530,000)
                                                   -----------      -----------
                                                   $        --      $        --
                                                   ===========      ===========

At December 31, 2006, the Company had approximately  $3,990,000 of net operating
loss carry forwards ("NOL's") available which expires in various years beginning
in 2016. The benefits of these NOL's may be reduced in the future if the Company
is successful in establishing a new business.


NOTE 7 - SUBSEQUENT EVENT:

On January 11, 2007 (the "Effective Date"),  Entrust Colorado  reincorporated in
the State of Delaware by merger (the "Merger") with and into Enthrust  Financial
Services,  Inc., a corporation  organized by Entrust  Colorado under the laws of
the State of Delaware  ("Enthrust").  On the Effective  Date, in accordance with
the  applicable  provisions  of the Colorado  Revised  Statutes and the Delaware
General  Corporate Laws,  Entrust  Colorado  consummated the Merger and Enthrust
became the surviving entity, the officers, directors and stockholders of Entrust
became the officers,  directors and  stockholders of Enthrust without any change
in their position(s) or beneficial ownership in Entrust Colorado. In addition to
the aforesaid changes, on the Effective Date, Entrust Colorado trading symbol on
NASDAQ's Over- The- Counter Bulletin Board was changed to "EFSV".

In connection with the Merger,  Entrust Colorado filed a Definitive  Information
Statement on Schedule 14C (the "Information Statement") with the U.S. Securities
and  Exchange  Commission  on  December  20,  2006  and  mailed  a copy  of that
Information Statement to its stockholders on December 22, 2006.

                                     F - 17
<PAGE>

                        ENTHRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2006 AND 2005

NOTE 7 - SUBSEQUENT EVENT (Continued):

Pursuant to the Information  Statement,  we anticipated that the Merger would be
with a  corporation  organized  under the laws of the State of Delaware with the
same name.  However,  subsequent to the filing of the  Information  Statement we
were informed by the Division of  Corporations of the State of Delaware that the
State's Banking Commissioner would not approve our continued use of "Entrust" in
the State of  Delaware.  In view of that,  we changed the name of the  surviving
corporation to "Enthrust Financial Services,  Inc." prior to the consummation of
the Merger.

                                     F - 18