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, 2005

                           Commission File No. 0-23965

                        ENTRUST FINANCIAL SERVICES, INC.

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

                 (Name of Small Business Issuer in its Charter)

               Colorado                                     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

       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, $0.0000001 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, 2005, the registrant had no revenues.

         As of March 20,  2006,  57,612,295  shares of the  registrant's  common
stock were  outstanding.  The aggregate  market value of the common stock of the
registrant  held by  non-affiliates  of the  registrant  (based upon the closing
price  on the  Nasdaq  OTC  Bulletin  Board of $0.16  on  March  20,  2006)  was
approximately $673,968.

                       DOCUMENTS INCORPORATED BY REFERENCE

                                      NONE

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


<PAGE>

                        ENTRUST FINANCIAL SERVICES, INC.

                                   FORM 10-KSB

<TABLE>
<S>            <C>                                                                                                 <C>
PART I
   Item 1.     Business.............................................................................................2
   Item 2.     Properties..........................................................................................10
   Item 3.     Legal Proceedings...................................................................................10
   Item 4.     Submission of Matters to a Vote of Security Holders.................................................10
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.............................................................................14
PART III
   Item 9.     Directors, Executive Officers, Promoters and Control Persons; Compliance With
               Section 16(a) of the Exchange Act...................................................................15
   Item 10.    Executive Compensation..............................................................................16
   Item 11.    Security Ownership of Certain Beneficial Owners and Management and
               Related Stockholder Matters.........................................................................18
   Item 12.    Certain Relationships and Related Transactions......................................................19
   Item 13.    Exhibits............................................................................................19
   Item 14.    Principal Accountant Fees and Services..............................................................20
</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,"
"RISK FACTORS" AND "MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF  OPERATIONS."  WE  UNDERTAKE  NO  OBLIGATION  TO REVISE OR UPDATE
PUBLICLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON.

                                       1
<PAGE>

                                     PART I

ITEM 1. BUSINESS.

Entrust Financial Services, Inc. was incorporated on November 8, 1996, under the
laws of the State of Colorado as "Centennial Banc Share Corporation." We changed
our name to  "Entrust  Financial  Services,  Inc." on  April  6,  2001.  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"). Following the Entrust Mortgage Sale, we had no operations.

On August 5, 2005, pursuant to a Common Stock Purchase Agreement entered into on
May 12, 2005, we sold, in a private placement transaction,  49,500,000 shares of
our  common  stock  to R&R  Biotech  Partners,  LLC and Moyo  Partners,  LLC (as
assignee)  (the "Entrust  Stock  Purchasers")  in exchange for  aggregate  gross
proceeds  to us of $500,000  (the  "Entrust  Stock  Sale").  Effective  upon the
closing of the Entrust  Stock Sale,  Arnold P. Kling joined us as our  president
and sole director and Kirk M. Warshaw joined as our chief financial  officer and
secretary.

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

Since  July 31,  2005,  our  purpose  is to serve as a  vehicle  to  acquire  an
operating business and we are currently considered a "shell" company inasmuch as
we are not generating  revenues,  do not own an operating business,  and have no
specific plan other than to engage in a merger or acquisition transaction with a
yet-to-be  identified company or business.  We have no employees and no material
assets.

Because of these  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.

                                       2
<PAGE>

We currently have no definitive  plans,  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  multiple  segments of a single
industry,  we will not 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  officers  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. 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;

                                       3
<PAGE>

-        equity interest retained by our shareholders 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  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, the executive officers and our 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  respective
shareholders. There can be no assurance that the

                                       4
<PAGE>

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 respective shareholders.

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  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  shareholders  of a target  business  under the laws of its
state  of  organization.  This  may  prove  to  be  deterrent  to  a  particular
combination.

AVAILABLE INFORMATION

The  public  may read and copy any  materials  we file with the SEC at the SEC's
Public  Reference Room at 450 Fifth Street,  N.W.,  Washington,  D.C. 20549. The
public may obtain  information on the operation of the Public  Reference Room by
calling the SEC at  1-800-SEC-0330.  The SEC  maintains  an  Internet  site that
contains  reports,  proxy and  information  statements,  and  other  information
regarding issuers such as us that file  electronically with the SEC. The website
address is www.sec.gov.

                                       5
<PAGE>

                                  RISK FACTORS

WE HAVE NO OPERATING HISTORY OR BASIS FOR EVALUATING PROSPECTS.

Since the Entrust  Stock Sale we have 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,  we will not 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, 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, 2005,  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,  shareholders 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.

                                       6
<PAGE>

WE DEPEND  SUBSTANTIALLY  UPON A SINGLE  EXECUTIVE  OFFICER AND DIRECTOR,  WHOSE
EXPERIENCE IS LIMITED, TO MAKES 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 any of his life.  The loss of the  services of Mr. Kling will have a material
adverse  effect on our business  objectives.  We will rely upon the expertise of
Mr. Kling and do not anticipate that we will hire additional personnel.


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

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 shareholders.  Further,  our management's own pecuniary interest may at some
point compromise its fiduciary duty to our shareholders.  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  and
affiliates of our majority  shareholder 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 shareholder,  may act as
investment  banker,  placement  agent  or  financial  consultant  to  us  or  an
acquisition  candidate  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, Rodman & Renshaw and our  shareholders  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

                                       7
<PAGE>

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.


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

Our Articles of Incorporation  authorized the issuance of 100,000,000  shares of
common stock. There are currently  57,612,295  authorized but unissued shares of
common stock  available for issuance.  To the extent that  additional  shares of
common stock are issued in connection with a merger or business combination, our
shareholders 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

                                       8
<PAGE>

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 SHAREHOLDER.

R&R Biotech Partners,  LLC beneficially owns over 68% of the outstanding  shares
of our common stock. As a result,  this  shareholder is able to exercise control
over  matters  requiring  shareholder   approval,   including  the  election  of
directors,  and the  approval  of  mergers,  consolidations  and sales of all or
substantially all of our assets.


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

The 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  shareholders  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 National Market
or SmallCap  Market).  There is uncertainty  that we will ever be accepted for a
listing on an automated quotation system or a securities exchange.

Often there is currently a limited volume of trading in our common stock, and on
many

                                       9
<PAGE>

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.

During the first seven months of 2005, we operated from leased office facilities
in Denver,  Colorado.  Since August 6, 2005, we have been operating from offices
located  at 47  School  Avenue,  Chatham,  New  Jersey  which  are  owned  by an
affiliated  company of Kirk Warshaw,  our chief financial officer and secretary,
for no rent, on a month to month basis. We do not own or intend to invest in any
real property.


ITEM 3. LEGAL PROCEEDINGS.

None.


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

We held a Special  Meeting of Shareholders on January 31, 2006, at which holders
of  51,450,000  shares of common stock  (representing  approximately  89% of our
total issued and outstanding common stock) were present and unanimously approved
all matters presented to them for a vote.

The  following  matters were  unanimously  approved by the  shareholders  at the
Special Meeting:

     o   to  authorize   our  Board  of  Directors  to  amend  our  Articles  of
         Incorporation  to effect a reverse stock split of our common stock at a
         ratio of not less than one-for-five nor more than one-for-sixty  shares
         at any time prior to September 20, 2006 at its sole  discretion;  and

     o   to authorize an amendment to our Articles of  Incorporation  to provide
         that  except  as  otherwise   provided  under  the  Colorado   Business
         Corporations  Act (the "CBCA"),  any action required or permitted under
         the  CBCA to be taken at a  shareholders'  meeting  may be taken by the
         written consent of the shareholders holding shares having not less than
         the minimum  number of votes that would be  necessary  to  authorize or
         take such action at a meeting.

                                       10
<PAGE>

                                     PART II

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

PRINCIPAL MARKET OR MARKETS

Our common stock has traded on the OTCBB since May 2000.  Currently,  our common
stock trades under the symbol ENFN. The following  table sets forth the high and
low bid  quotation  for our common stock for each  quarterly  period in 2005 and
2004.  Such  quotations  reflect  inter-dealer  prices,  without retail mark-up,
markdown or commission and may not necessarily represent actual transactions.

                                  BID PRICE
                              HIGH         LOW
                              ----         ---
       2005
       ----
First Quarter                $0.80        $0.05
Second Quarter               $0.34        $0.09
Third Quarter                $0.27        $0.11
Fourth Quarter               $0.13        $0.06

       2004
       ----
First Quarter               $ 0.32        $0.13
Second Quarter              $ 0.65        $0.15
Third Quarter               $ 1.05        $0.40
Fourth Quarter              $ 1.01        $0.54


APPROXIMATE NUMBER OF HOLDERS OF COMMON STOCK

As of March 20, 2006, we had a total of 57,612,295 shares of common stock issued
and  outstanding.  The number of  holders of record of our common  stock at that
date was approximately 250.

DIVIDENDS

Holders  of common  stock are  entitled  to  receive  such  dividends  as may be
declared  by our Board of  Directors.  Other than the  special  $0.153 per share
dividend paid to  shareholders of record on July 25, 2005 in connection with the
Entrust  Mortgage  Sale,  no dividends  were declared or paid during the periods
reported  herein.  We do not  anticipate  paying  dividends  in the  foreseeable
future.

                                       11
<PAGE>

RECENT SALES OF UNREGISTERED SECURITIES

The following information relates to our sales of unregistered securities during
the fiscal year ended December 31, 2005.  These sales of securities were made in
reliance upon an exemption  from the  registration  provisions of the Securities
Act of 1933, as amended (the "Securities Act") set forth in Section 4(2) thereof
and the rules and regulations under the Securities Act, including  Regulation D,
as a transaction by an issuer not involving any public offering and/or sale to a
limited number of purchasers  who were  acquiring such  securities for their own
account  for  investment  purposes  and  not  with  a  view  to  the  resale  or
distribution thereof.

On August 5, 2005, we sold 49,500,000 shares in the Entrust Stock Sale.

On  November  1, 2005,  a total of  5,500,000  shares of our  common  stock were
authorized  for issuance to three  individuals  who provided  services to us. We
issued  1,950,000 shares each to Arnold Kling and Kirk Warshaw for their work as
our president and chief financial officer, respectively, and 1,600,000 shares to
MBA  Investors,  Ltd.,  an  affiliated  company of Thomas  Pierson who  provided
consulting  services.  We valued the  services  provided  by  Messrs.  Kling and
Warshaw at $7,800 each, and Mr. Pierson's services at $6,400.


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  the  perceived  advantages  of becoming 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.

                                       12
<PAGE>

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.

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

     (i)  filing Exchange Act reports, 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 shareholders, 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, 2005 we had cash on hand of $34,673.
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, 2005, we had no operating business,  no equipment,  and other
than Arnold Kling and Kirk Warshaw our  president and chief  financial  officer,
respectively,  we had no  employees.  Neither of our  officers  receive any cash
compensation  and each  provides  services  on an "as needed  basis".  We do not
intend to develop our own  operating  business  but  instead  plan to merge with
another operating company.

                                       13
<PAGE>

CONTINUING  OPERATIONAL   EXPENSES   FOR   THE   DEVELOPMENT  STAGE PERIOD ENDED
DECEMBER 31, 2005

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.

Operating  expenses  from  continuing  activities  for the twelve  months  ended
December 31, 2005 were $130,520 compared to $158,380 for the twelve months ended
December 31, 2004. These expenses consist of the legal, accounting, shareholder,
and filing related  expenses  incurred to file reports with the SEC and are of a
continuing and recurring nature.

Net cash used in our continuing  operating activities for the development period
ended  December 31, 2005 was $8,335.  During the five months ended  December 31,
2005, we had no revenues.  As a result,  cash on hand decreased by $8,335 during
the five month developmental period ended December 31, 2005 to $34,673.

The operating expenses of $44,577 for the five month developmental  period ended
December 31, 2005 resulted primarily from accounting/auditing, legal and general
administrative expenses.


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.

         Effective February 4, 2006, we dismissed Richey May & Co., LLP ("Richey
May") from serving as our  independent  accountants  and engaged  Lazar Levine &
Felix LLP ("Lazar") as our new independent accountants.  Our Board of Directors,
operating as our audit  committee,  unanimously  recommended the change in audit
firms,  directed the process of review of candidate  firms to replace Richey May
and made the final decision to engage Lazar.

         There were no disagreements  with Richey May or occurrence of any event
described in paragraph (a)(1)(iv) of Item 304 of Regulation S-B.


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-

                                       14
<PAGE>

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.


                                    PART III

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

The  following  table sets forth  information  concerning  our officers and sole
director as of March 20, 2006:

NAME                  AGE    TITLE
----                  ---    -----
Arnold P. Kling       47     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  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,
Inc., R&R Acquisition I, Inc., R&R  Acquisition  II, Inc., R&R Acquisition  III,
Inc.,  R&R  Acquisition  IV, Inc. and R&R  Acquisition  V, Inc. (each a publicly
reporting, non-trading company) and 24 Holdings, Inc. (OTCBB:TFHD).

                                       15
<PAGE>

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,  Inc. R&R Acquisition I, Inc., R&R Acquisition
II,  Inc.,  R&R  Acquisition  III,  Inc.,  R&R  Acquisition  IV,  Inc.  and  R&R
Acquisition V, Inc. (each a publicly reporting,  non-trading company), the chief
financial officer and a Director of 24 Holdings,  Inc. (OTCBB:TFHD),  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 two board  members and given our limited  operations,  we do not
have separate or independent  audit or  compensation  committees.  Our Board 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.

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, 2005 the Reporting  Persons  complied with all  applicable  Section
16(a) reporting requirements.

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

                                       16
<PAGE>

directors.  On November 1, 2005, our Board of Directors  authorized the issuance
to both Mr.  Kling and Mr.  Warshaw,  1,950,000  shares of our common  stock 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.  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. We do not have any  incentive or stock option plan in
effect.

                                       17
<PAGE>

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

The  following  table  sets  forth  certain  information  as of March  20,  2006
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.


                                         Amount and Nature of      Percentage of
Name (1)                                 Beneficial Ownership (1)  Shares Owned
-----------                              ------------------------  -------------
R&R Biotech Partners, LLC                39,600,000                68.7%
1270 Avenue of the Americas - 16th Floor
New York, NY 10020
Attention: Thomas Pinou, CFO

Moyo Partners, LLC (2)                   9,900,000                 17.2%
c/o Arnold P. Kling
712 Fifth Avenue - 11th Floor
New York, NY 10019

Arnold P. Kling                          1,950,000                 3.4%
712 Fifth Avenue - 11th Floor
New York, NY 10019

Kirk M. Warshaw (3)                      1,950,000                 3.4%
47 School Avenue
Chatham, NJ 07928

All Officers and Directors as a Group    13,800,000                24.0%
(2 persons)

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

(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 March 20,
2006 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)      Mr. Warshaw is our chief financial officer and secretary.

                                       18
<PAGE>

We currently do not maintain any equity compensation plans.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

None.


ITEM 13. EXHIBITS.

(a)  EXHIBITS

Exhibit Number     Description
--------------     -----------

      3.1          Articles of Incorporation (1)

      3.2          By-Laws (1)

      3.3          Articles of Amendment of Articles of  Incorporation to change
                   name to easy Qual.com, Inc. (2)

      3.4          Articles of Amendment of Articles of  Incorporation to change
                   name to Entrust Financial Services, Inc. (2)

      3.5          Articles of  Amendment  of Articles  of  Incorporation  dated
                   February 6, 2006*

     31.1          Chief Executive Officer Certification pursuant to section 302
                   of the Sarbanes-Oxley Act of 2002*

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

     32.1          Chief Executive Officer Certification pursuant to section 906
                   of the Sarbanes-Oxley Act of 2002*

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

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

(1) Filed as an exhibit to the  Company's  Registration  Statement on Form 10-SB
filed on March 27, 1998 and incorporated herein by reference.

                                       19
<PAGE>

(2) Filed as an exhibit to the  Company's  Annual  Report on Form 10-KSB for the
year ended December 31, 2000, filed on April 16, 2001 and incorporated herein by
reference.


ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

AUDIT FEES

We paid audit and  financial  statement  review  fees  totaling  $5,000 to Lazar
Levine & Felix  LLP,  our  current  independent  accountants  for the year ended
December 31, 2005 and $8,750 for the year ended  December 31, 2004 to our former
independent accountants Richey May and Co.

AUDIT-RELATED FEES

None

TAX FEES

We paid tax  preparation  fees totaling  $1,000 to Lazar Levine & Felix LLP, our
current independent  accountants for the year ended December 31, 2005 and $8,750
for the year  ended  December  31,  2004 to our former  independent  accountants
Richey May and Co.

ALL OTHER FEES

None.

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.


                                    ENTRUST FINANCIAL SERVICES, INC.

Date: March 30, 2006


                                    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: March 30, 2006


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



Date: March 30, 2006


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


                                       21
<PAGE>

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

INDEX

Independent Auditors' Report - Current Auditor                              F-2.

Independent Auditors' Report - Predecessor Auditor                          F-3.

Financial Statements:

Balance Sheet as of December 31, 2005                                       F-4.

Statements of Operations for the Development Stage Period (August 1,
2005 to December 31, 2005) and the Years Ended December 31, 2005 and
2004                                                                        F-5.

Statement of Shareholders' Equity (Deficit) for the Years Ended December
31, 2005 and 2004, including the Development Stage Period (August 1,
2005 to December 31, 2005)                                                  F-6.

Statements of Cash Flows for the Development Stage (August 1, 2005 to
December 31, 2005) and the Years Ended December 31, 2005 and 2004           F-7.

Notes to Financial Statements                                               F-8.

                                     F - 1
<PAGE>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders
Entrust Financial Services, Inc.
Chatham, New Jersey

We have audited the accompanying  balance sheet of Entrust  Financial  Services,
Inc. (a  development  stage  company),  as of December  31, 2005 and the related
statements of operations,  shareholders' equity and cash flows for the year then
ended and the statements of operations, shareholders' equity, and cash flows for
the  development  stage  period  August  1, 2005 to  December  31,  2005.  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 audit.

We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board. Those standards require that we plan and perform the
audit 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 audit included consideration of internal control over financial reporting as
a  basis  for  designing   audit   procedures   that  are   appropriate  in  the
circumstances,  but  not  for  the  purpose  of  expressing  an  opinion  on the
effectiveness  of the  Company's  internal  control  over  financial  reporting.
Accordingly,  we express no such opinion. An audit 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 audit  provides 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 Entrust Financial  Services,
Inc. (a  development  stage company) as of December 31, 2005, and the results of
its  operations  and  its  cash  flows  for  the  year  then  ended  and for the
development stage period August 1, 2005 to December 31, 2005, 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 the
Entrust  Financial Stock Sale on August 5, 2005. 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
March 23, 2006

                                     F - 2
<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders
Entrust Financial Services, Inc.
Chatham, New Jersey

We have audited the accompanying statements of operations,  shareholders' equity
and cash flows of Entrust Financial Services, Inc. (a development stage company)
for the year  ended  December  31,  2004.  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 audit.

We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board. Those standards require that we plan and perform the
audit 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 audit included consideration of internal control over financial reporting as
a  basis  for  designing   audit   procedures   that  are   appropriate  in  the
circumstances,  but  not  for  the  purpose  of  expressing  an  opinion  on the
effectiveness  of the  Company's  internal  control  over  financial  reporting.
Accordingly,  we express no such opinion. An audit 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 audit  provides a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements referred to above, present fairly, in
all  material  respects,  the  results of  operations  and cash flows of Entrust
Financial  Services,  Inc.  (a  development  stage  company)  for the year ended
December 31, 2004 in conformity with accounting principles generally accepted in
the United States of America.


/s/ Richey, May & Co., LLP
--------------------------
Richey, May & Co., LLP
Englewood, Colorado
March 29, 2006

                                     F - 3
<PAGE>

                        ENTRUST FINANCIAL SERVICES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET
                             AS OF DECEMBER 31, 2005


                                    - ASSETS -
CURRENT ASSETS:
   Cash                                                             $    34,673
                                                                    -----------
   Total Current Assets                                                  34,673
                                                                    -----------

TOTAL ASSETS:                                                       $    34,673
                                                                    ===========


                    - LIABILITIES AND SHAREHOLDERS' EQUITY -

CURRENT LIABILITIES:
   Accounts payable and accrued expenses                            $    14,242
                                                                    -----------
Total Current Liabilities                                                14,242

                                                                    -----------
COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:
Preferred stock, $.000001 par value,
   1,000,000 authorized, none issued                                         --
Common stock, $.0000001 par value;
   100,000,000 shares authorized,
   57,612,295 shares issued and outstanding                                   6
Additional paid-in capital                                            8,127,550
Accumulated deficit                                                  (8,062,548)
Deficit accumulated during development stage                            (44,577)
                                                                    -----------
Total Shareholders' Equity                                               20,431
                                                                    -----------

TOTAL LIABILITIES and EQUITY                                        $    34,673
                                                                    ===========


                             See accompanying notes

                                     F - 4
<PAGE>

                        ENTRUST FINANCIAL SERVICES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS

<TABLE>
                                     CUMULATIVE DURING THE
                                     DEVELOPMENT STAGE           YEAR ENDED DECEMBER 31,
                                     AUGUST 1, 2005 TO
                                     DECEMBER 31, 2005)          2005              2004
                                     ---------------------    -----------      ----------
<S>                                            <C>            <C>              <C>
REVENUES                                       $     --       $        --      $       --
                                               --------       -----------      ----------
COSTS AND EXPENSES:
    Compensation expense                         15,600            15,600              --
    Professional fees                            24,665            91,192         135,887
    Filing and shareholder expense                4,295            23,711          22,493
    Other expenses                                   17                17              --
                                               --------       -----------      ----------
    Total expenses                               44,577           130,520         158,380
                                               --------       -----------      ----------
    Net loss from continuing operations         (44,577)         (130,520)       (158,380)
                                               --------       -----------      ----------

    Income (loss) from discontinued operations:
      Loss from operations, net of taxes             --          (262,769)        (57,870)
      Gain on disposal, net of taxes                 --           382,729              --
                                               --------       -----------      ----------
                                                     --           119,960         (57,870)
                                               --------       -----------      ----------

NET LOSS                                       $(44,577)      $   (10,560)     $ (216,250)
                                               ========       ===========      ==========
BASIC AND DILUTED EARNINGS PER SHARE FROM
    CONTINUING OPERATIONS                                     $     (0.00)     $    (0.06)
BASIC AND DILUTED EARNINGS PER SHARE FROM
    DISCONTINUED OPERATIONS                                         (0.00)          (0.02)
                                                              -----------      ----------
BASIC AND DILUTED EARNINGS PER SHARE                          $     (0.00)     $    (0.08)
                                                              ===========      ==========


WEIGHTED AVERAGE NUMBER OF
    BASIC AND DILUTED SHARES OUTSTANDING                       22,496,910       2,594,545
                                                              -----------      ----------
</TABLE>

                             See accompanying notes

                                     F - 5
<PAGE>

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

                   STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIT)

<TABLE>
<CAPTION>
                                                                                                          Deficit
                                                                                                         Accumulated
                                                       Common Shares         Additional    Retained        During      Shareholders'
                                                 ------------------------    Paid-in       Earnings      Development      Equity
                                                   Number        Amount      Capital       (Deficit)        Stage        (Deficit)
                                                 -----------   ----------   -----------   -----------    -----------    -----------
<S>                                                <C>         <C>          <C>           <C>            <C>            <C>
Balance at December 31, 2003                       2,576,795   $        1   $ 7,583,655   $(7,480,315)   $        --    $   103,341
Net loss for year ended December 31, 2004                 --           --            --      (216,250)            --       (216,250)
Issuance of common shares for services                35,500           --        21,900            --             --         21,900
                                                 -----------   ----------   -----------   -----------    -----------    -----------
Balance at December 31, 2004                       2,612,295            1     7,605,555    (7,696,565)            --        (91,009)
Sale of common stock for cash                     49,500,000            4       499,996            --             --        500,000
Dividend paid                                             --           --            --      (400,000)            --       (400,000)
Issuance of compensatory shares for fair value
  of services                                      5,500,000            1        21,999            --             --         22,000
Net loss for year ended December 31, 2005                 --           --            --        34,017        (44,577)       (10,560)
                                                 -----------   ----------   -----------   -----------    -----------    -----------
Balance at December 31, 2005                      57,612,295   $        6   $ 8,127,550   $(8,062,548)   $   (44,577)   $    20,431
                                                 ===========   ==========   ===========   ===========    ===========    ===========
</TABLE>

                             See accompanying notes

                                     F - 6
<PAGE>

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

                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                       Cumulative During the
                                                                         Development Stage             Year Ended December 31,
                                                                         (August 1, 2005 to       ---------------------------------
                                                                          December 31, 2005)          2005                 2004
                                                                       ---------------------      ------------         ------------
<S>                                                                          <C>                  <C>                  <C>
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net loss                                                                $    (44,577)        $    (10,560)        $   (216,250)
     Adjustments to reconcile net loss to net cash
      utilized by operating activities:
         Gain on sale of discontinued operations                                       --             (382,729)                  --
         Depreciation                                                                  --              146,177              223,686
         Compensatory shares                                                       22,000               22,000               21,888
         Provision for loan losses                                                     --                   --              298,073
           (Increase) Decrease in:
              Accounts receivable                                                      --              (37,287)              39,977
              Mortgages held for sale                                                  --           19,613,277          (17,111,613)
              Prepaid assets                                                           --               (9,828)             174,245
           Increase (decrease) in accrued expenses                                 14,242             (157,494)            (355,980)
                                                                             ------------         ------------         ------------
         Net cash provided (utilized) by operating
               activities                                                          (8,335)          19,183,556          (16,925,974)
                                                                             ------------         ------------         ------------
CASH FLOW FROM INVESTING ACTIVITIES:
           Sale (purchase) of property & equipment                                     --              (16,050)            (133,841)
           Decrease in restricted cash                                                 --                2,805              497,245
                                                                             ------------         ------------         ------------
Net cash provided by  investing activities                                             --              (13,245)             363,404
                                                                             ------------         ------------         ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
     Net borrowings (repayment), warehouse lines of
       credit                                                                          --          (19,534,785)          16,992,091
     Repayment of long term debt                                                       --             (761,570)            (300,000)
     Repayment of capital leases                                                       --              (40,438)             (71,108)
     Proceeds from sale of common shares                                               --              500,000                   --
     Payment of dividend                                                               --             (400,000)                  --
                                                                             ------------         ------------         ------------
           Net cash (utilized) provided by financing
              activities                                                               --          (20,236,793)          16,620,983
                                                                             ------------         ------------         ------------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                               (8,335)          (1,066,482)              58,413
Cash and cash equivalents at beginning of period                                   43,008            1,101,155            1,042,742
                                                                             ------------         ------------         ------------
CASH AND CASH EQUIVALENTS AT END OF
  PERIOD                                                                     $     34,673         $     34,673         $  1,101,155
                                                                             ============         ============         ============
</TABLE>

SUPPLEMENTAL CASH FLOW INFORMATION:
Non-cash investing and financing activities
(i) On July  31,  2005,  the  Company  sold its  wholly  owned  subsidiary  to a
note-holder in exchange for the  cancellation of all debts owed. The liabilities
exceeded the assets sold and costs incurred by $382,729.

                             See accompanying notes

                                     F - 7
<PAGE>
                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

NOTE 1 - DESCRIPTION OF COMPANY:

Entrust Financial Services, Inc. (the "Company") was incorporated on November 8,
1996,  under  the  laws of the  State  of  Colorado  as  Centennial  Banc  Share
Corporation. The Company changed its name to Entrust Financial Services, Inc. as
of April 6, 2001. The Company was initially formed for the purpose of developing
and maintaining a mortgage brokerage business. In April 1999 it acquired Entrust
Mortgage,  Inc.,  ("Entrust  Mortgage") a mortgage banking business which became
its  wholly-owned  operating  subsidiary and was the Company's  core  operations
until July 31, 2005.  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 ("BBSB") in exchange
for the cancellation of all obligations owed by the Company and Entrust Mortgage
to BBSB and the  assumption of certain  third-party  obligations  of the Company
(the "Entrust Mortgage Sale").  Following the Entrust Mortgage Sale, the Company
has had no operations.

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,  49,500,000
shares of its common stock to R&R Biotech Partners,  LLC and Moyo Partners,  LLC
(as assignee) (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 as its chief  financial
officer and secretary.

Our shareholders did not receive any consideration in the Entrust Mortgage Sale,
but  shareholders  of record on July 25,  2005,  received  a one time  aggregate
dividend from the Entrust Stock Sale of $400,000,  or  approximately  $0.153 per
share.  The remaining  $100,000 of the  consideration  paid by the Entrust Stock
Purchasers 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.

Since July 31, 2005,  the Company's  purpose is 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.

                                     F - 8
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

NOTE 1 - DESCRIPTION OF COMPANY (Continued):

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.  Outlined  below are those
policies considered particularly significant.

(a) USE OF ESTIMATES:

In preparing  financial  statements in  accordance  with  accounting  principles
generally  accepted in the United  States of America,  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.

(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.

                                     F - 9
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

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

(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:

SFAS  No.  148,   "Accounting  for  Stock  Based   Compensation-Transition   and
Disclosure,  an Amendment of FASB Statement No. 123" ("SFAS 148"),  amended FASB
Statement No. 123,  "Accounting for Stock-based  Compensation"  ("SFAS 123"), to
provide  alternative  methods of transition  for a voluntary  change to the fair
value method of accounting for stock-based  compensation.  However, it allows an
entity to continue to measure  compensation cost for those instruments using the
intrinsic value method of accounting  prescribed by Accounting  Principles Board
Opinion No. 25 ("APB 25"),  "Accounting for Stock Issued to Employees," provided
it discloses the effect of SFAS 123, as amended by SFAS 148, in footnotes to the
financial  statements.  The  Company  has  chosen to  continue  to  account  for
stock-based compensation using the intrinsic value method.

                                     F - 10
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

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

(e) STOCK OPTIONS (Continued):

The Company  accounts for  stock-based  awards  granted to  employees  using the
intrinsic value-based method of accounting in accordance with APB 25 and related
interpretations, under which no compensation cost is recognized for stock option
awards  granted at fair  market  value.  Had  compensation  costs of such option
awards been determined under a fair value  alternative  method as stated in SFAS
148, the Company would have been required to prepare a fair value model for such
options and record  such  amount in the  financial  statements  as  compensation
expense.  Pro forma  stock-based  employee  compensation  costs,  net income and
earnings per share,  as they would have been recognized if the fair value method
had been applied to all such awards, are presented in the table below.

                                                        2005            2004
Net loss                                              $ (8,760)      $(216,250)
Pro forma stock-based compensation expense               4,700          16,114
                                                      --------       ---------
Pro forma net loss                                    $(13,460)      $(232,364)
                                                      ========       =========
Basic and diluted earnings per share:
As reported                                           $  (0.00)      $   (0.08)
Pro forma                                             $  (0.00)      $   (0.09)

The Company has used the  Black-Scholes  option pricing model in calculating the
fair value of options and restricted stock awards granted.  The assumptions used
and the weighted-average  information for years ended December 31, 2005 and 2004
are as follows:

                                                       2005       2004
Expected Yield                                         1.00%      1.00%
Risk-free interest rate                                1.12%      1.12%
Expected life in years                                 3          3
Expected volatility                                    1.27       1.27
Weighted average fair value of
options granted                                       $0.56      $0.56

Under the recently revised Financial  Accounting  Standards Board Statement SFAS
No.  123  (R),  "Share-Based  Payment,"  the  Company  will  apply  the  expense
recognition  provisions relating to stock options beginning in the first quarter
of 2006. See "Recent Accounting Pronouncements" below for further explanation.

                                     F - 11
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

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

(f) NEW ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY:

In  December  2004,  the FASB  issued a revision  of SFAS No.  123  "Share-Based
Payment" (No. 123R). The statement  establishes standards for the accounting for
transactions in which an entity  exchanges its equity  investments for goods and
services.  It also addresses  transactions in which an entity incurs liabilities
in  exchange  for  goods or  services  that are  based on the fair  value of the
entity's  equity  instruments  or that may be settled by the  issuance  of those
equity  instruments.  The statement does not change the accounting  guidance for
share-based payments with parties other than employees. The statement requires a
public entity to measure the cost of employee  service  received in exchange for
an award of equity  instruments  based on the grant-date fair value of the award
(with limited  exception).  That cost will be recognized  over the period during
which an  employee is  required  to provide  service in  exchange  for the award
(usually the vesting period). A public entity will initially measure the cost of
employee  services  received in exchange for an award of a liability  instrument
based on its current fair value; the fair value of that award will be remeasured
subsequently at each reporting date through the settlement date. Changes in fair
value during the requisite  service  period will be  recognized as  compensation
over that  period.  The  grant-date  fair value of  employee  share  options and
similar instruments will be estimated using  option-pricing  models adjusted for
the unique characteristics of these instruments. The Company will be required to
comply with this pronouncement for periods beginning after December 15, 2005. As
the Company  currently  accounts for  share-based  payments  using the intrinsic
method as allowed by APB Opinion No.25,  adoption of the fair value method under
SFAS  123(R)  will have an impact on its  results of  operations.  However,  the
extent of the impact cannot be predetermined at this time because it will depend
on levels of share-based payments granted in the future.

In May  2005,  the FASB  issued  SFAS No.  154,  "Accounting  Changes  and Error
Corrections"  ("SFAS No.  154").  SFAS No. 154 is a  replacement  of  Accounting
Principles  Board Opinion No. 20 and SFAS No. 3. SFAS No. 154 provides  guidance
on the accounting for and reporting of accounting changes and error corrections.
It establishes  retrospective application as the required method for reporting a
change in accounting  principle.  SFAS No. 154 provides guidance for determining
whether  retrospective  application  of a  change  in  accounting  principle  is
impracticable  and for  reporting a change  when  retrospective  application  is
impracticable.  SFAS No. 154 also  addresses the reporting of a correction of an
error by  restating  previously  issued  financial  statements.  SFAS No. 154 is
effective for accounting  changes and corrections of errors made in fiscal years
beginning  after  December  15,  2005.  We will be adopting  this  pronouncement
beginning in our fiscal year 2006 and do not currently believe that it will have
a material impact on our financial statements.

                                     F - 12
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

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  operation  of $262,769  results in income  from  discontinued
operations of $119,960 for the year ended December 31, 2005.


NOTE 4 - SHAREHOLDERS' EQUITY:

As of December 31, 2005, the Company has authorized 100 million shares of common
stock,  par value  $.0000001  per  share.  There  are  issued  and  outstanding,
57,612,295  shares of  common  stock.  All  shares  of  common  stock  currently
outstanding are validly issued, fully paid, and non-assessable.

The number of authorized shares was increased during the year ended December 31,
2005 from 50 million  shares to the current 100 million  shares.  The  Company's
shareholders   ratified  and   approved   the   amendment  of  the  Articles  of
Incorporation  of the Company to increase  the  authorized  common  stock to 100
million shares at a special meeting of the  shareholders  which was held on July
26, 2005.

On August 5,  2005,  Arnold P. Kling and R&R  Biotech  Partners,  LLC  purchased
49,500,000  shares 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  5,500,000  shares of our  common  stock were
authorized  for  issuance  to three  individuals  who  provided  services to the
Company.  We issued  1,950,000  shares each to Arnold Kling and Kirk Warshaw for
their work as the Company's president and chief financial officer,  respectively
and 1,600,000  shares to MBA  Investors,  Ltd., an affiliated  company of Thomas
Pierson for consulting  services.  Messrs.  Kling's and Warshaw's  services were
valued at $7,800 each and Mr. Pierson's was valued at $6,400.

                                     F - 13
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

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, 2003                        105,000                   $1.52
Granted                                   45,000                   $0.80
Exercised/Cancelled                           --
                                        --------
December 31, 2004                        150,000                   $1.28
Granted                                       --
Cancelled                                (50,000)                  $2.00
                                        --------
December 31, 2005                        100,000                   $0.55
                                        ========

                                                                  OPTIONS
                                OPTIONS OUTSTANDING              EXERCISABLE
                                          Average Life (in
  Exercise Price            Shares            years)                Shares
$0.51                      60,000             0.60                 60,000
$0.60                      40,000             0.60                 40,000


The Company had issued warrants to purchase common stock to certain  consultants
of the Company. These warrants have terms ranging from two years to three years.
At December  31,  2003,  warrants to purchase  530,000  shares of the  Company's
common  stock at a  weighted  average  exercise  price of $1.08 per  share  were
outstanding.  At December 31, 2003 warrants for 430,000 shares were  exercisable
and the balance maybe exercised  according to a specific  schedule.  At December
31, 2004 all warrants had expired without being exercised.

                                     F - 14
<PAGE>

                         ENTRUST FINANCIAL SERVICES INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2005 AND 2004

NOTE 6 - INCOME TAXES:

                                                                        2005
Deferred tax assets and liabilities consist of the following:

Deferred tax assets:
  Net operating loss carry forwards                                 $ 1,750,000

  Less valuation allowance                                           (1,750,000)
                                                                    -----------
                                                                    $        --
                                                                    ===========

At December 31, 2005, the Company had approximately  $4,473,000 of net operating
loss carry  forwards  ("NOL's")  available  which expires in years  beginning in
2020. 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 31, 2006, a Special  Shareholders  Meeting was held at which time the
shareholders  voted to authorize the Board of Directors to amend its Articles of
Incorporation  to effect a reverse stock split of its common stock,  in its sole
discretion, at a ratio of not less than one-for-five nor more than one-for-sixty
shares at any time prior to September 20, 2006.

The  shareholders  also  authorized  an amendment to the  Company's  Articles of
Incorporation  to provide that except as otherwise  provided  under the Colorado
Business  Corporations Act (the "CBCA"),  any action required or permitted under
the CBCA to be  taken at a  shareholders'  meeting  may be taken by the  written
consent of the  shareholders  holding shares not less than the minimum number of
votes that would be necessary to authorize or take such action at a meeting.

                                     F - 15