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 June 30, 2006


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

                  For the Transition Period From _____ to _____
________________________________________________________________________________

                        Commission File Number 333-67318


                             GIVEMEPOWER CORPORATION
        (Exact name of small business issuer as specified in its charter)



                       Nevada                                  87-0291528
 ---------------------------------------------            -------------------
 (State or other jurisdiction of incorporation               (IRS Employer
                  or organization)                        Identification No.)

 5925 - 12 Street SE, Suite 230
   Calgary, Alberta, Canada           T2H 2M3               (403) 287-6001
-------------------------------    --------------  ----------------------------
 (Address of principal             (Postal Code)    (Issuer's telephone number)
   executive office)

Securities registered under Section 12(b) of the Exchange Act:


Securities registered under Section 12(g) of the Exchange Act:


Indicate by check mark whether the issuer (1) has filed all reports  required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes  [ x ]   No  [    ]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).

Yes  [    ]   No  [ x ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-B is not contained  herein,  and will not 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
Form 10-KSB [ x ]


Total revenues for Fiscal Year 2006 were $184,985.


State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was sold,  or the average bid and asked  price of such  common  equity,  as of a
specified  date within the past 60 days: As of September  25, 2006,  the Company
had 20,854,949  common shares held by  non-affiliates  with an aggregate  market
value of $4,170,990.


State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable date: As of September 25, 2006 there were
29,623,801 shares of issuer's common stock outstanding.



      ___________________________________________________________________



                                       1
<PAGE>





                             GIVEMEPOWER CORPORATION
                                   FORM 10-KSB
                     For the Fiscal Year Ended June 30, 2006
       ___________________________________________________________________


<TABLE>
<CAPTION>


Part I                                                                                         Page
------                                                                                         ----

<S>                                                                                            <C>
Item 1.    Description of Business.                                                             3

Item 2.    Description of Property.                                                             16

Item 3.    Legal Proceedings.                                                                   17

Item 4.    Submission of Matters to a Vote of Security Holders.                                 17


Part ll                                                                                        Page
-------                                                                                        ----

Item 5.    Market for Common Equity and Related Stockholder Matters.                            18

Item 6.    Management's Discussion and Analysis or Plan of Operation.                           19

Item 7.    Financial Statements                                                                 F-1

Item 8.    Changes In and Disagreements With Accountants on Accounting
           and Financial Disclosure.                                                            24

Item 8A.   Controls and Procedures.                                                             24


Item 8B.   Other Information.                                                                   24


Part lll                                                                                       Page
--------                                                                                       ----

Item 9.    Directors, Executive Officers, Promoters and Control Persons;
           Compliance with Section 16(a) of the Exchange Act.                                   25

Item 10.   Executive Compensation                                                               27


Item 11.   Security Ownership of Certain Beneficial Owners and Management
           and Related Stockholder Matters                                                      28

Item 12.   Certain Relationships and Related Transactions.                                      29

Item 13.   Exhibits.                                                                            30

Item 14.   Principal Accountant Fees and Services.                                              30

Signatures.                                                                                     31
</TABLE>

                                       2
<PAGE>


                                     PART I


FORWARD-LOOKING INFORMATION

This Annual Report of GiveMePower  Corporation ("GMPW" or the "Company") on Form
10-KSB contains forward-looking  statements,  particularly those identified with
the   words,   "anticipates,"   "believes,"   "expects,"   "plans,"   "intends",
"objectives" and similar expressions. These statements reflect management's best
judgment based on factors known at the time of such  statements.  The reader may
find discussions containing such forward-looking  statements in the material set
forth under "Legal  Proceedings" and  "Management's  Discussion and Analysis and
Plan of  Operations,"  generally,  and  specifically  therein under the captions
"Liquidity and Capital  Resources" as well as elsewhere in this Annual Report on
Form 10-KSB. Actual events or results may differ materially from those discussed
herein.

ITEM 1.  DESCRIPTION OF BUSINESS.

GENERAL

We are a Nevada  corporation  organized  in 2001 for the purpose of  developing,
marketing and  supporting  computer  software and related  services that we both
develop and license for resale.  Our products and services are sold primarily in
North  America  through our wholly  owned  subsidiary  and  principal  operating
entity,  GiveMePower Inc., an Alberta corporation based in Calgary,  Canada that
we acquired and made a part of our organization in 2001.

We are an  early-stage  company whose  long-term  mission is to become a leading
provider of computer-aided  design ("CAD"),  digital content management software
and related  solutions for  businesses and  individuals  involved in the design,
management and construction of man-made structures and manufactured products.

Our  primary  focus is on  creating  industry-compatible  software  tools  which
facilitate  the use of CAD in both the office and in the field using  Windows(R)
desktop,  laptop and XP Tablet PCs - as well as mobile and wireless  Pocket PCs,
Handheld PCs, SmartPhones and  industry-specific  devices designed  specifically
for the field or plant floor.

Primary  industries  able to benefit  through  use of our  technologies  include
architecture, engineering, construction, real estate, land development, mapping,
facilities  management,  geographic  information  system ("GIS")  processing and
computer-aided manufacturing ("CAM").

From inception through fiscal 2006, our efforts have been primarily  directed at
technology  research,  acquisition  and  development,  new  product  application
releases, website and e-business infrastructure development, market research and
development,   financing,  and  early-stage  sales,  marketing  and  promotional
activities.

Our  objective  in fiscal  2007 is to  successfully  transition  from a start-up
company into a commercially viable sales, marketing and distribution  enterprise
capable of creating demand and distribution for our products and services, which
are  being  crafted  to  offer  affordable  and   industry-compatible   CAD  and
collaborative  digital blueprint  processing across all Microsoft  Windows-based
mobile, wireless, desktop and laptop computers.

We are  organized  into two  primary  reporting  segments;  the Retail  Products
segment which  accounted for 79% of revenues in fiscal 2006 (88% in fiscal 2005)
and the Embedded  Products segment which accounted for 21% of revenues in fiscal
2006 (12% in fiscal 2005).

                                       3
<PAGE>

The Retail  Products  segment  derives  revenues  from the sale of  pre-packaged
software  and related  solutions  and services for  businesses  and  individuals
involved in the design,  construction and management of man-made  structures and
manufactured  products.  Principal  products sold by the Retail Products segment
include PowerCAD CE Viewer(TM), PowerCAD CE Classic(TM), PowerCAD CE Pro(TM) and
PowerCAD  SiteMaster(TM) CE for mobile and wireless handheld computer users, and
PowerCAD   LT+(TM),   PowerCAD   Classic(TM),   PowerCAD  Pro(TM)  and  PowerCAD
SiteMaster(TM)  XP for  Windows(R)  desktop,  laptop  and XP tablet PC  computer
users.

The Embedded Products segment derives revenues by licensing our technologies and
providing related support services to Original  Equipment  Manufacturer  ("OEM")
hardware  manufacturers  and  third-party  software  developers  who  embed  our
technologies within value-added mobile, wireless and desktop computing solutions
of their own design.  Our embedded  products are  distributed  through an annual
subscription  service,  called  the  Power  Developer  Network(TM).  OEM's pay a
variable  per-license  fee for each solution they  distribute  which contain our
technologies.

BUSINESS DEVELOPMENT

Headquartered in Calgary,  Alberta,  Canada, we were originally  incorporated as
GiveMePower.com  , Inc.  On  September  15,  2000,  we amended  our  Articles of
Incorporation to change our corporate name to GiveMePower Inc.

On December  20, 2000,  GiveMePower  Inc.  entered into a Plan and  Agreement of
Reorganization  to undertake a reverse merger with a National  Quotation  Bureau
public company called TelNet World  Communications,  Inc.  (TelNet).  TelNet had
neither  operations nor any working capital when  GiveMePower  Inc. entered into
the reverse merger with it.

On February  16, 2001,  GiveMePower  Inc.  negotiated  the  exclusive  rights to
co-develop,  enhance,  re-brand and distribute software technologies provided to
us by Felix  Computer Aided  Technologies  GmbH ("Felix") in North America for a
term of six  months  with an  option  to  extend  the term of the  agreement  to
automatically renewing five-year terms upon issuing one million common shares of
TelNet to Wilfried  Grabert,  the  President of Felix,  on or before  August 16,
2001. Mr. Graebert exercised this option effective August 10, 2001.

On February 16, 2001,  GiveMePower Inc. acquired the rights,  title and interest
to the domain name, givemepower.com from Sundance Marketing International Inc, a
private  company  owned  by our  founder,  Bill  Walton.  Under  terms  of  this
agreement,  Sundance agreed to assign its existing  customer base to GiveMePower
Inc. and to terminate  its existing  license  agreement  with Felix  pursuant to
GiveMePower Inc. securing its own agreement with Felix.

On February 28, 2001,  GiveMePower Inc.  negotiated the non-exclusive  rights to
co-develop,  enhance,  re-brand and distribute  software  technologies  in North
America,  provided  to us by  AutoPack  GmbH  ("AutoPack")  under  automatically
renewing  one-year  terms upon issuing three hundred  thousand  common shares of
TelNet to Robert Grabert,  the Chief Technology Officer of AutoPack for personal
services related to development and support of the AutoPack products.

In March,  2001, we acquired  perpetual and  royalty-free  software  rights to a
library of over 7,000 industry-standard  drawing symbols from cADD-Ons, Inc., of
Palm Coast, Florida. Sold under the trade name PowerSYMBOLS(TM), this library of
graphic  symbols serves as a productivity  enhancing  plug-in for other PowerCAD
products.

In October,  2001, we acquired ownership and intellectual  property rights for a
software system specifically tailored for businesses and individuals involved in
residential  and light  construction  building  design from Bud Elkin,  Inc., of
Orlando, Florida.

Effective July 5, 2001 the name of TelNet was changed to GiveMePower Corporation
and the domicile was changed  from Utah to Nevada.  On March 28, 2002,  our Form
SB-2  Registration  Statement  was  declared  effective  by  the  United  States
Securities  and  Exchange  Commission  and  we  are  now  subject  to  reporting
requirements  pursuant to the  Securities  Exchange Act of 1934.  As a reporting
company,  shares of our common  stock are listed for trading on the OTC Bulletin
Board under the ticker symbol "GMPW".

                                       4
<PAGE>

In August,  2002, we acquired  perpetual and  royalty-free  software rights to a
library  of  over  8,700 2 and  3-dimensional  drawing  symbols  from  Cad  Easy
Corporation of Hillsboro, Oregon for inclusion inside PowerCAD retail and/or OEM
developer product offerings in native PowerCAD formats.

In February,  2002,  we began  limited  marketing  of our software  products and
services to North American  businesses and  individuals  involved in two primary
markets; 1) retail users involved in the design, construction and manufacture of
man-made  products  and  structures,  and 2)  Independent  Software  Vendors and
developers  ("ISVs")  and OEMs who  license  our  technology  to embed in custom
solutions of their own design.

Based on feedback  received  from users who have  downloaded  or  purchased  our
products,  we began  restructuring  our product and service  offerings in March,
2003 to better  suit the needs of our  customers.  Particular  emphasis is being
placed on advancing our CAD design and digital blueprint processing capabilities
for mobile and wireless  computing,  and to  corresponding  improvements  in our
desktop, laptop and XP tablet computing technologies.

We continue  to advance our  technologies,  and we intend to  introduce  new and
enhanced  products and services  throughout  fiscal 2007,  which we believe will
meet with commercial  market  acceptance and result in higher revenues in fiscal
2007.

PRINCIPAL PRODUCTS

Our  principal  products  are branded and  registered  with the U.S.  Patent and
Trademark Office under the trade names PowerCAD(R), PowerCAD CE(TM) and PowerCAD
Embedded(TM).

Our principal  products are broken down into two segments:  1) Retail  Products;
and 2) Embedded Software and Developer Products.

RETAIL PRODUCTS

Retail Product sales and related services  accounted for 79% of our net revenues
in fiscal 2006 and 88% of net revenues in fiscal 2005.

Our Retail  Products  segment  derives  revenues  from the sale of PowerCAD  and
PowerCAD CE-branded software products and related services,  and is divided into
two  categories:  1) mobile and  wireless  handheld  computing;  and 2) desktop,
laptop and XP tablet computing.

All primary  Retail  Products are available for a free 30-day trial via download
from our  website or by  installing  from a CD-ROM  which can be  ordered  for a
nominal shipping and handling fee. Product  purchasers  receive a unique Product
Key,  which they use to unlock the system for permanent  use on their  computer.
Product keys can be ordered by phone or via secure ordering over the Internet.

MOBILE AND WIRELESS HANDHELD COMPUTING

Sales of retail mobile and wireless handheld computing  solutions  accounted for
37% of our net retail revenues in fiscal 2006 and 34% in fiscal 2005.

Required  enhancements to PowerCAD CE mobile  solutions  listed below to support
operation  under  Microsoft's  most  recent  Windows  Mobile 5.0 and CE .NET 5.0
operating  systems  introduced  during  our  fiscal  2006  reporting  period are
presently in development, and are scheduled for anticipated delivery in October,
2006.  Until support for these newer Microsoft  operating  systems is completed,
sales of PowerCAD CE products are expected to be minimal.

                                       5
<PAGE>

Our  PowerCAD  CE(TM)  mobile  product  line has been  developed  to offer 2 and
3-dimensional  CAD design and  digital  blueprint  processing  capabilities  for
enterprises  seeking  to  mobilize  their  operations  using  wired or  wireless
handheld computing devices. Supported devices include Pocket PCs, Pocket PC cell
phones, handheld PCs and manufacturer specific devices which utilize Microsoft's
Windows CE(R), Windows CE .NET(R) and Windows Mobile(R) operating systems.

Four different  retail  products are presently  available  under the PowerCAD CE
brand name, each designed to serve as independent  mobile/wireless CAD stations,
or as  compatible  mobile  extensions  for existing  desktop CAD systems such as
AutoCAD(R) by Autodesk Inc., MicroStation(R) by Bentley Systems Inc. and our own
line of PowerCAD desktop solutions:

PowerCAD CE Viewer(TM)
----------------------

PowerCAD CE Viewer is an instantly  usable mobile  software  system which allows
users of any skill level to open,  view and markup 2 and  3-dimensional  project
designs and digital blueprints saved in industry-standard  drawing formats using
mobile and wireless handheld computing devices which utilize Microsoft's Windows
CE, Windows CE .NET or Windows Mobile 2003 mobile operating systems.

Enhancements to PowerCAD CE Viewer to support  operation under  Microsoft's most
recent  Windows  Mobile 5.0 and CE .NET 5.0  operating  systems are presently in
development,  and are scheduled for anticipated delivery in October, 2006. Until
support for these  newer  Microsoft  operating  systems is  completed,  sales of
PowerCAD CE Viewer are expected to be minimal.

PowerCAD CE Classic(TM)
-----------------------

PowerCAD CE Classic  retains all of the  simplified 2D and 3D viewing and markup
capabilities  of  PowerCAD  CE  Viewer,  and adds the  ability  to create new 2D
drawings  and edit  existing  drawings  using a wide  selection  of design tools
optimized  specifically for efficient  operation on mobile and wireless handheld
devices.

Enhancements to PowerCAD CE Classic to support  operation under Microsoft's most
recent  Windows  Mobile 5.0 and CE .NET 5.0  operating  systems are presently in
development,  and are scheduled for anticipated delivery in October, 2006. Until
support for these  newer  Microsoft  operating  systems is  completed,  sales of
PowerCAD CE Classic are expected to be minimal.

PowerCAD CE Pro(TM)
-------------------

PowerCAD  CE  Pro is  our  most  powerful  general-purpose  mobile/wireless  CAD
solution,  offering all of the  functionality of PowerCAD CE Viewer and PowerCAD
CE  Classic,  plus more  advanced  2D and 3D  design  and  visualization  tools,
end-user customization  capabilities to create efficient operation on mobile and
wireless handheld devices.

Enhancements  to PowerCAD CE Pro to support  operation  under  Microsoft's  most
recent  Windows  Mobile 5.0 and CE .NET 5.0  operating  systems are presently in
development,  and are scheduled for anticipated delivery in October, 2006. Until
support for these  newer  Microsoft  operating  systems is  completed,  sales of
PowerCAD CE Pro are expected to be minimal.

PowerCAD SiteMaster(TM) Pro 3 - CE Edition
------------------------------------------

PowerCAD  SiteMaster  Pro 3 - CE Edition is in beta form and is  expected  to be
released to our customers in October  2006. An enhanced  version of our flagship
product  designed  for use with the  latest  Windows  Mobile 5.0 and CE .NET 5.0
operating  systems,  PowerCAD  SiteMaster Pro 3 CE is more robust and productive
than prior releases and allows users to connect external laser-measuring devices
from  manufacturers  such  as  Leica  Geosystems  AG  and  Hilti  AG  to  create
one-person,   in-field   drafting   systems   able   to   generate   "real-time"
floor/measurement  plans up to 10 to 20 times  faster  than  traditional  manual
methods.

                                       6
<PAGE>

Once introduced,  we anticipate sales of PowerCAD  SiteMaster Pro CE and related
products and services to contribute  substantially to increased company revenues
in fiscal 2007.

DESKTOP, LAPTOP AND XP TABLET COMPUTING

Sales of retail desktop,  laptop and XP tablet computing  products accounted for
63% of our net retail revenues in fiscal 2006 and 66% in fiscal 2005.

Significant  enhancements to our retail  desktop,  laptop and XP tablet products
have been developed  throughout 2006, with additional  features and improvements
intended for introduction throughout the course of fiscal 2007.

Four  principal  retail  desktop,  laptop and XP tablet  products are  presently
available  under  the  PowerCAD(R)   brand  name,  each  designed  to  serve  as
complementary   technology  to  PowerCAD  mobile  offerings  and/or   affordable
additional seat installations,  or lower-cost  alternatives to competing systems
such as AutoCAD(R) and AutoCAD LT(R),  by Autodesk Inc. or  MicroStation(R),  by
Bentley Systems Inc.

PowerCAD  desktop,  laptop and XP tablet  solutions  have been designed to offer
simplified system operation,  direct compatibility with  industry-standard  file
formats,  and the ability to operate  efficiently on lesser-powered  desktop and
laptop  computers as well as a new  generation  of XP tablet mobile and wireless
computers.

PowerCAD LT+(TM)
----------------

PowerCAD LT+ is our simplest design and drafting  solution for Windows  desktop,
laptop and XP tablet users. PowerCAD LT+ is designed for casual users, students,
space  planners  and  designers  seeking a  simple-to-use,  low-cost 2D drafting
solution  which  can  directly  open  AutoCAD(R)-compatible   drawings,  but  is
restricted to savings results in PowerCAD proprietary file formats.

PowerCAD Viewer(TM)
-------------------

PowerCAD Viewer is a new product  presently in beta form for scheduled  delivery
to our  customers in October,  2006.  PowerCAD  Viewer allows users of any skill
level to open, view and markup 2 and  3-dimensional  project designs and digital
blueprints  saved in  industry-standard  drawing formats using Windows  desktop,
laptop and XP tablet computers.

PowerCAD Classic(TM)
--------------------

PowerCAD Classic retains all the  functionality  and simplicity of PowerCAD LT+,
but adds extended 2D drawing creation and visualization  tools, plus the ability
to save results in AutoCAD(R)-compatible drawing formats.

PowerCAD Pro(TM)
----------------

PowerCAD  Pro is our most  powerful  general-purpose  CAD  solution  for Windows
desktop, laptop and XP tablet computing. PowerCAD Pro is designed to offer up to
80% of the power and  customization  capabilities  of competing  systems such as
AutoCAD(R), by Autodesk Inc., at less than 25% of the cost.

                                       7
<PAGE>

PowerCAD SiteMaster(TM) Pro - XP Edition
----------------------------------------

PowerCAD  SiteMaster  Pro 3 - XP Edition is in beta form and is  expected  to be
released to our customers in October  2006. An enhanced  version of our flagship
product designed for use with the latest Windows  desktop,  laptop and XP tablet
PC operating systems, PowerCAD SiteMaster Pro 3 XP is more robust and productive
than prior releases and allows users to connect external laser-measuring devices
from  manufacturers  such  as  Leica  Geosystems  AG  and  Hilti  AG  to  create
one-person,   in-field   drafting   systems   able   to   generate   "real-time"
floor/measurement  plans up to 10 to 20 times  faster  than  traditional  manual
methods.

Once introduced,  we anticipate sales of PowerCAD  SiteMaster Pro XP and related
products and services to contribute  substantially to increased company revenues
in fiscal 2007.

EMBEDDED PRODUCTS

Embedded  Product sales and services  accounted for 21% of net revenue in fiscal
2006 and 12% in fiscal 2005.  Significant  enhancements to our Embedded Products
and services are currently being developed for planned  introduction  throughout
the course of fiscal 2007.

Our  Embedded  Products  segment  derives  revenues  through  licensing  of  our
technologies to OEM hardware  manufacturers and third-party  software developers
on a per-unit  basis for embedding into mobile,  wireless and desktop  computing
solutions  of  their  own  design.   Licensed  under  the  trade  name  PowerCAD
Embedded(TM),   added  revenues  are  derived   through   collection  of  annual
subscription  fees from our Power  Developer  Network,  an online  delivery  and
support center for PowerCAD Embedded and related technologies and services.

PRODUCT DEVELOPMENT AND INTRODUCTION

Research  and  development  expenses  were  $207,005  or 111.9%  of fiscal  2006
revenues and $257,647 or 135.7% of fiscal 2005 revenues.  We continue to enhance
our product and service  offerings to meet the changing  needs of our  customers
and future trends we see in our market place.

The majority of our research and development  costs are related to our PowerCAD,
PowerCAD CE and PowerCAD Embedded  products,  which rely on core technologies we
license and  cooperatively  develop with  GiveMePower  GmbH (formerly  Felix and
AutoPack), of Berlin, Germany.

Additional costs are attributed to the development of PowerCAD Architect,  which
we acquired ownership and intellectual property rights for in October, 2001 from
Bud Elkin,  Inc. of  Orlando,  Florida.  We first  introduced  this  software in
November,  2002 under the trade name  PowerCAD  Architect(TM).  Based on initial
customer feedback whereby major product  deficiencies  were discovered,  we have
generated  insignificant  revenues  and  discontinued  active  sales of PowerCAD
Architect until known  deficiencies can be resolved.  Our plans are to develop a
major update to PowerCAD Architect during fiscal 2007.

Under  terms  of  our  agreement  with  GiveMePower  GmbH  (formerly  Felix  and
AutoPack),  we are  committed  to  paying  up to 15%  of  net  revenues,  volume
dependent,  with minimum quarterly  payments of $50,000 relating to the sale and
licensing of  PowerCAD,  PowerCAD CE and  PowerCAD  Embedded  mobile and desktop
products  in North  America,  in return for ongoing  supply of product  updates,
upgrades and technical support. The majority of core GiveMePower GmbH technology
development  is  performed  in  Germany,  with  localization,  testing,  English
documentation as well as value-added product enhancements  performed in the U.S.
and Canada.

Under terms of our  agreement  with Bud Elkin,  Inc., we are committed to paying
10% of net revenues relating to the sale and licensing of PowerCAD Architect, in
return for ongoing supply of product  updates,  upgrades and technical  support.
The majority of PowerCAD  Architect  development and testing is performed in the
U.S. and Canada.

                                       8
<PAGE>

We dedicate  considerable  technical and financial  resources to developing  and
enhancing our products.  The investments we make in developing and enhancing our
products may not result in sufficient revenue  recognition to justify the costs,
and our competitors  may introduce  products which could create a lack of market
acceptance  for our  products or render our products  obsolete,  either of which
could materially harm our business.

The technology  industry is characterized by rapid changes in computing hardware
and  computer  operating  systems.   Such  changes  could  require  considerable
investment to address,  render our technologies obsolete, and affect our ability
to generate revenues, any of which would materially harm our business.

We depend on external  sources for supply of core  technologies  and support for
our principal  products.  Any disruption in the supply of such core technologies
and support could materially harm our business.

Our software products are extremely complex and, despite extensive  internal and
external quality assurance testing,  may contain errors or defects.  Such errors
or  defects  could  result in the  requirement  for costly  repairs,  damage our
reputation,  impair our ability to generate revenues, or create a lack of market
acceptance  for our  products,  any of  which  could  all  materially  harm  our
business.

Our business strategy depends in part on relationships with third-party hardware
and software OEMs, who embed our technologies into vertical-market  solutions of
their own design.  Investments we make in supporting some OEMs may not result in
sufficient  revenue  recognition to justify the costs, and some OEMs may produce
solutions  which contain errors and defects which could damage our reputation or
impair our ability to collect revenues,  each of which could materially harm our
business.

SALES, MARKETING AND DISTRIBUTION

Our sales, marketing and distribution  activities have been primarily restricted
to public news  releases,  free  distribution  of 30-day product trials over the
Internet, and limited direct-to-customer marketing via email and telephone.

Our objective moving forward is to increase revenues by increasing  distribution
of our products and services via  internet  sales,  retail  sales,  OEM hardware
partnerships and OEM software developer partnerships.

INTERNET SALES

Internet sales to customers accounted for the majority of our revenues in fiscal
years 2006 and 2005.

Our goal in  fiscal  2007 is to  significantly  increase  the  number  of people
visiting our website,  convert  between 1-5% of free  promotional  product users
into paying  customers,  and to increase  internet  sales through  resellers and
distributors we have yet to establish.

RETAIL SALES

During  fiscal 2007,  we plan to increase  our presence in the retail  market by
establishing  a network of  distributors  and resellers in North America who can
assist  in  reaching  a  higher  number  of end  users.  Due  to  the  intensely
competitive  nature of retail  sales,  we  anticipate  that the  creation of our
retail reseller channel will require a considerable  investment in personnel and
finances to achieve significant results.

                                       9
<PAGE>

OEM HARDWARE PARTNERSHIPS

During fiscal 2007, we plan to aggressively  pursue  co-marketing,  bundling and
embedded technology alliances with hardware vendors seeking to increase sales by
including  our  technologies  as a  value-added  component  on their  mobile and
wireless  computing  devices.  We anticipate  average sales to revenue cycles of
6-12 months for each OEM hardware partner.

OEM SOFTWARE DEVELOPER PARTNERSHIPS

A key strategy for our future  growth is the licensing of our  technologies  and
services to third-party  commercial,  corporate and government  enterprises  for
embedding  into  vertical-market  software  solutions  of their own  design.  We
anticipate  sales to  vertical-market  solution  delivery cycles of between 6-12
months for each OEM software developer.

Our ability to effectively sell, market and distribute our products and services
depends largely on our current financial  condition and the financial  condition
of our  customers.  At  present,  we are not highly  capitalized  and our future
objectives  depend on our ability to secure  additional growth financing through
external sources and our ability to generate  significantly higher revenues from
the sale of our products and services.

COMPETITIVE BUSINESS CONDITIONS

The  software  markets we compete in are  highly  competitive  and have  limited
barriers to entry. Rapid changes in technology,  including hardware and software
systems we rely on, as well as introduction  of competing  products and services
and consolidation of companies with competing products and services, can quickly
render  our  technologies  as less  valuable  or even  obsolete.  We  anticipate
competition to intensify in the future.

Virtually all of our competitors have greater  financial,  technical,  sales and
marketing  resources  than we do. We are entering a mature  market with numerous
competitors who have established  their products and services within many of the
customer  locations  we seek to establish a presence  with.  We believe that our
future results will depend  largely on our ability to offer unique  products and
services that can compete  favorably  with or offer  extended  value in terms of
reliability, compatibility,  performance, ease of use, range of features, price,
delivery and support.

Each of these  factors  as well as  unforeseen  factors,  could  have a material
affect on our future operating  results,  including  reduced profits margins and
loss of potential market share.

Our principal products and services compete with one or more products from other
more established independent software vendors. Our principal products and their
primary competition includes:
<TABLE>
<CAPTION>

GIVEMEPOWER PRODUCT                 COMPETING PRODUCTS               COMPETING VENDORS
-------------------------           ---------------------------      ---------------------------------
<S>                                         <C>                             <C>
PowerCAD CE  Viewer                 PocketCAD Viewer                 Arc Second, Inc.

PowerCAD CE  Classic                PocketCAD Pro                    Arc Second, Inc.

PowerCAD CE  Pro                    PocketCAD Pro                    Arc Second, Inc.

PowerCAD SiteMaster CE              ZipCad                           Coutts Design Inc.

PowerCAD LT+                        AutoCAD LT                       Autodesk, Inc.
                                    TurboCAD Deluxe                  IMSI/Design LLC
                                    IntelliCAD                       IntelliCAD Technology Consortium

PowerCAD Classic                    AutoCAD LT                       Autodesk, Inc.
                                    TurboCAD Deluxe                  IMSI/Design LLC
                                    IntelliCAD                       IntelliCAD Technology Consortium



                                       10
<PAGE>

PowerCAD Pro                        AutoCAD                          Autodesk, Inc.
                                    TurboCAD Pro                     IMSI/Design LLC
                                    IntelliCAD Premium               IntelliCAD Technology Consortium

PowerCAD SiteMaster XP              None significant                 None significant

PowerCAD Embedded                   AutoCAD OEM                      Autodesk, Inc.
                                    IntelliCAD OEM                   IntelliCAD Technology Consortium

Power Developer Network             Autodesk Developer Network       Autodesk, Inc.
                                    IntelliCAD Developer Network     IntelliCAD Technology Consortium
</TABLE>


DEPENDENCE ON MAJOR CUSTOMERS

Two customers,  Allen Datagraph Systems,  Inc. and Laser Meters,  Inc. accounted
for 18.2% of our  revenues  in  fiscal  2006 with our  largest  customer,  Allen
Datagraph Systems,  Inc.,  accounting for 9.31%. This compares to two customers,
Laser Meters,  Inc. and Cochran's  Inc.  accounting for 24.0% of our revenues in
fiscal 2005.

TRADEMARKS

We have two registered trademarks, GiveMePower(R), which was registered with the
United  States  Patent and  Trademark  Office  ("USPTO")  on July 8,  2003,  and
PowerCAD(R),  which was registered on February 12, 2002. In addition, we filed a
trademark application with the USPTO on February 11, 2003 for the trade name CAD
Anywhere(TM).  In addition, we have secured the givemepower.com and powercad.com
website domains.

EMPLOYEES

As of June 30, 2006, we had six full-time equivalent employees. Five are located
in Canada and one is located in the United States. We believe our relations with
all of our employees are good.

RISKS RELATED TO BUSINESS

You  should  carefully  consider  the  following  risk  factors  and  all  other
information  contained herein as well as the information included in this Annual
Report in evaluating  our business and  prospects.  The risks and  uncertainties
described  below  are  not  the  only  ones  we  face.   Additional   risks  and
uncertainties,  other than those we describe below, that are not presently known
to us or that we currently believe are immaterial,  may also impair our business
operations.  If any of the  following  risks occur,  our business and  financial
results could be harmed. You should refer to the other information  contained in
this Annual  Report,  including our  consolidated  financial  statements and the
related notes.

     o    WE  CONTINUE  TO SHOW  LOSSES.  The  object of the  company is to be a
          viable,  profitable  entity,  however we continue to show considerable
          losses as we  develop  our  business.  Should  one or  several  of the
          factors  listed below or elsewhere in this document be  implemented or
          become  effective,  this could adversely  affect this objective and as
          such, place any investment in our company at risk.

     o    WE HAVE LIMITED  OPERATIONS,  REVENUES AND ASSETS.  As an  early-stage
          business,  we are subject to all the substantial risks inherent in the
          commencement of a new business  enterprise with new management.  There
          is no  certainty  that  we  will  be  able  to  successfully  generate
          revenues, operate profitably, or make any distributions to the holders
          of our securities. We have limited business history for you to analyze
          or to aid you in making an  informed  judgment  as to the merits of an


                                       11
<PAGE>

          investment  in our  securities.  Any  investment  in our common  stock
          should  be  considered  a high  risk  investment  because  you will be
          placing  funds  at  risk  in  an  unseasoned   start-up  company  with
          unforeseen  costs,  expenses,  competition and other problems to which
          start-up ventures are often subject. As we are an early-stage company,
          our prospects  must be considered in light of the risks,  expenses and
          difficulties  encountered  in  establishing  a  new  business  in  any
          industry.

     o    WE CURRENTLY  HAVE  NEGATIVE  WORKING  CAPITAL AND LIMITED  SOURCES OF
          LIQUIDITY.  We require  substantial  capital  to pursue our  operating
          strategy and we currently have limited cash for operations.  Until and
          unless we can  obtain  revenues  sufficient  to fund  working  capital
          needs,  we will be dependent  upon external  sources of financing.  To
          date, we have limited internal sources of liquidity and expect limited
          internal cash flow in the  immediate  future.  We require  substantial
          working  capital to continue  the funding of our  business.  We do not
          have any  commitments  to raise  additional  capital  and  there is no
          certainty that any  additional  funds required to operate our business
          will be available on favorable terms, if at all. If adequate funds are
          not available or are not available on acceptable  terms, we may not be
          able  to  fund  future   expansion,   take  advantage  of  anticipated
          acquisition opportunities,  develop or enhance services or products or
          respond to competitive pressures. Such inability could have a material
          adverse effect on our business, operations and financial condition. If
          additional  funds  are  raised  through  the  issuance  of  equity  or
          convertible debt securities,  the percentage ownership of shareholders
          of the company will be reduced, shareholders may experience additional
          dilution,  and  such  securities  may  have  rights,  preferences  and
          privileges senior to those of our current shareholders.

     o    WE ARE DEPENDENT ON KEY MANAGEMENT PERSONNEL. Our success is dependent
          upon, among other things, the services of Bill Walton,  CEO, president
          and director. The loss of Mr. Walton's services, for any reason, could
          have a  material  adverse  effect  on  our  business,  operations  and
          financial condition. We do not have an employment agreement or key-man
          life insurance  policy for Mr.  Walton.  The expansion of our business
          will place further  demands on existing  management and future growth.
          Future  profitability will depend, in part, on our ability to hire and
          retain the necessary  personnel to operate our  business.  There is no
          certainty  that we will be able to  identify,  attract,  hire,  train,
          retain and motivate  other highly skilled  technical,  administrative,
          managerial,  marketing and customer service personnel. Competition for
          such  personnel is intense and there is no  certainty  that we will be
          able  to  successfully  attract,   integrate  or  retain  sufficiently
          qualified  personnel.  The failure to attract and retain the necessary
          personnel  could have a  materially  adverse  effect on our  business,
          operations and financial condition.

     o    WE ARE IN AN  INTENSELY  COMPETITIVE  INDUSTRY  WITH FEW  BARRIERS  TO
          ENTRY.  The  software  industry  is  highly  competitive  and  has few
          barriers to entry.  There are numerous  competitors  offering  various
          components of the type of software and services we offer.  Also, there
          is no certainty  that  additional  competitors  will not enter markets
          that we  intend to serve.  We  believe  that our  ability  to  compete
          depends on many factors  both within and beyond our  control.  At this
          time,  there are other companies  offering  similar  services as those
          intended to be offered by our company.  It should be expected  that in
          the future we would be competing with  additional  companies,  many of
          which may have greater financial resources than our company.  There is
          no  certainty  that we will be able to  compete  successfully  in this
          market.

     o    WE ARE LARGELY CONTROLLED BY OUR PRINCIPAL STOCKHOLDERS,  OFFICERS AND
          DIRECTORS.  As of June 30, 2006, four principal stockholders (one is a
          director) own 8,618,852 shares or  approximately  29.4%. Our directors
          and officers  beneficially own 2,194,225 shares or approximately  7.5%
          of our outstanding  common stock. This  concentration of ownership may
          have the effect of delaying or  preventing  a change in control of the
          company.

     o    OUR  SURVIVAL  DEPENDS  ON  OUR  ABILITY  TO  ADAPT  TO  TECHNOLOGICAL
          CHALLENGES. The market in which we compete is characterized by rapidly
          changing  technology,  evolving  industry  standards,  low barriers to
          entry, enhancements to existing software, and evolving customer needs.
          Consequently,  our  success  will  depend on our  ability  to adapt to
          rapidly changing technology, evolving industry standards, low barriers
          to entry,  software  enhancements,  and evolving customer needs and to


                                       12
<PAGE>

          continually  improve the performance,  features and reliability of our
          software and  services.  Failure to adapt to such changes could have a
          material  adverse  effect on its business,  operations,  and financial
          condition.  In addition,  the adaptation to such changes could require
          substantial  capital resources that may not be available when required
          or may  not be  available  on  favorable  terms,  which  could  have a
          material  adverse  effect on our  business,  operations  and financial
          condition.

     o    OUR PRODUCTS MAY CONTAIN ERRORS.  Software products like those we sell
          often contain undetected errors or performance problems.  Such defects
          are most frequently found during the period immediately  following the
          introduction  of new products or  enhancements  to existing  products.
          Despite  extensive  product testing prior to their  introduction,  our
          products may contain  software  errors that will be  discovered  after
          commercial introduction. Despite the precautions taken to ensure error
          free  software,  there  is no  guarantee  that  we  will  not be  held
          responsible for possible damages to customers, customers' projects, or
          other  miscellaneous  damages.  There is no  certainty  that errors or
          performance  problems will not be discovered in the future. Any future
          software defects  discovered after shipment to a customer could result
          in loss of revenues,  unexpected costs or delays in market acceptance,
          any of which could have a material adverse effect on the company.

     o    WE MAY NOT BE ABLE TO RETAIN OUR DISTRIBUTION  RIGHTS. We have secured
          the  North   American   license  rights  for   distribution   of  core
          technologies  inherent  within  our  software.  Should we fail to meet
          certain  terms and  conditions  within these  agreements,  there is no
          guarantee  that we will retain these  distribution  rights which could
          have a  material  adverse  effect  on  our  business,  operations  and
          financial condition.

     o    OUR  SUCCESS  MAY  DEPEND  ON  THE  SUCCESS  OF  OUR   RESELLERS   AND
          DISTRIBUTORS.  We intend to offer the  majority  of our  software  and
          services  through the  Internet  and through a network of  independent
          resellers  and  distributors.   Our  success  is  dependent  upon  the
          acceptance  of the Internet as a  distribution  mechanism  for selling
          software products and on the ability of our resellers and distributors
          to implement viable marketing  initiatives.  Many of our resellers and
          distributors  may carry  products  from several  different  companies,
          including products that may compete with our software. There is a risk
          that  these  resellers  and  distributors  will give  priority  to the
          products of other suppliers.  The reduction or loss in sales by one or
          more of our key resellers or distributors, or the inability to attract
          new resellers and  distributors,  could have a material adverse effect
          on the company.

     o    WE MAY BE  SUBJECT  TO  PRODUCT  OBSOLESCENCE.  The  markets  for  our
          products   are   characterized   by   evolving   industry   standards,
          technological changes and changing customer needs. The introduction of
          products embodying new technologies and the emergence of new hardware,
          software or computer aided design  standards could render our existing
          products  obsolete and  unmarketable.  Consequently,  our success will
          depend upon our ability to successfully  develop and introduce new and
          enhanced   products  that  evolve  with   technological  and  industry
          developments,  industry  standards and customer needs.  The timing and
          success of product  development is  unpredictable  due to the inherent
          uncertainty in anticipating technological  developments,  difficulties
          in identifying and correcting design flaws and market acceptance.  Any
          significant delay in releasing new products or enhancements could have
          a  material   adverse  effect  on  the  success  of  new  products  or
          enhancements that could have a material adverse effect on our company.
          There is no certainty  that we will be able to introduce  new products
          on a  timely  basis,  that  such  products  will  achieve  any  market
          acceptance  or that any such market  acceptance  will be sustained for
          any significant period.  Failure of new products to achieve or sustain
          market acceptance could have a material adverse effect on our company.
          We also depend on  technology  from third  parties and should there be
          any  problems  or delays in new  software  versions  from these  third
          parties, this could have a material adverse effect on our company.

     o    WE MAY BE SUBJECT TO MISAPPROPRIATION OF OUR INTELLECTUAL PROPERTY. We
          have entered into  confidentiality and assignment  agreements with our
          employees and contractors,  and non-disclosure agreements with outside
          parties  with which we conduct  business,  in order to limit access to
          and disclosure of our proprietary information.  There is not certainty
          that these  contractual  arrangements  will  protect our  intellectual
          property from  misappropriation  or deter third party  development  of
          similar technologies. We pursue registration of our trademarks and may


                                       13
<PAGE>

          license our proprietary rights to third parties. While we will attempt
          to ensure  the  quality  of our brand  names  are  maintained  by such
          licensees,  there is no certainty  that such  licensees  will not take
          action that might materially  adverse effect our business,  operations
          and financial condition.

     o    THERE IS A RISK THAT WE MAY BE NOTIFIED THAT OUR TECHNOLOGIES INFRINGE
          THE PROPRIETARY  RIGHTS OF THIRD PARTIES.  We expect that participants
          in our markets will be increasingly  subject to infringement claims as
          the number of services and competitors in our industry segments grows.
          Any such claim, whether meritorious or not, could be time consuming or
          result in costly  litigation.  Any such  claim  could  have a material
          adverse effect on our business, operations and financial condition.

     o    WE ARE SUBJECT TO  POTENTIAL  SYSTEM  DOWNTIME  RISKS.  Our ability to
          develop  products and to provide quality  customer service will depend
          on the  efficient  and  uninterrupted  operation  of our  computer and
          communications   hardware  systems.   Backup  of  software,  data  and
          information  will be stored  within the premises of the company and at
          outside  premises with third  parties.  Our systems and operations are
          vulnerable to damage or  interruption  from natural  disasters,  fire,
          power loss,  telecommunications failures, vandalism, theft and similar
          events. The occurrence of such events could result in interruptions in
          the services we provide. In addition,  the failure by third parties to
          provide the data  communications  capacity we require,  as a result of
          natural disasters, human error or other operational disruption,  could
          also result in interruptions of our services.  Any interruption of our
          services  could  have a  material  adverse  effect  on  our  business,
          operations or financial condition.

     o    OUR  BUSINESS  IS  DEPENDENT  ON  THE   MAINTENANCE  OF  THE  INTERNET
          INFRASTRUCTURE FOR THE DISTRIBUTION OF OUR SOFTWARE AND SERVICES.  Our
          success will depend,  in part,  upon the  maintenance  of the Internet
          infrastructure,  as a reliable  network  backbone  with the  necessary
          speed,  data capacity,  and security.  To the extent that the Internet
          continues to experience increased numbers of users,  frequency of use,
          or increased  requirements  of users,  there is no certainty  that the
          Internet  infrastructure  will  continue  to be  able to  support  the
          demands  placed on it or that the  performance  or  reliability of the
          Internet will not be adversely  affected.  However, it is management's
          belief that based upon historical evidence our business will evolve as
          the Internet evolves.

     o    WE RISK  CAPACITY  CONSTRAINTS  ON OUR  WEBSITE.  A key element of our
          strategy  is to  generate a high  volume of  traffic  on our  website.
          Accordingly,   the   satisfactory   performance,    reliability,   and
          availability  of  our  website  and  network  infrastructure  will  be
          critical to our reputation and ability to attract and retain customers
          and maintain  adequate  customer service levels.  To a certain extent,
          but not  exclusively,  our  revenues  will  depend  upon the number of
          visitors  who select  customers  through our website and the volume of
          customers that we are able to attract. Any substantial increase in the
          volume of traffic on our website will require us to expand and upgrade
          further  our  technology  and network  infrastructure.  We can give no
          assurance  that we will be able  to  accurately  project  the  rate or
          timing of  increases,  if any,  in the use of our  website  nor can we
          assure we will be able to timely  expand and  upgrade  our systems and
          infrastructure to accommodate such increases.  In addition, even if we
          are able to project  such needs,  there is no  certainty  that we will
          have sufficient capital to adequately and timely expand or upgrade our
          systems and infrastructure.

     o    GOVERNMENTAL   REGULATION  AND  LEGAL  UNCERTAINTIES  MAY  AFFECT  OUR
          BUSINESS.  We are not  currently  subject to direct  regulation by any
          governmental agency,  other than regulations  applicable to businesses
          generally,  and laws or  regulations  directly  applicable  to  online
          commerce.  However,  due to the  increasing  popularity and use of the
          Internet and other online  services,  it is possible  that a number of
          laws and  regulations  may be adopted  with respect to the Internet or
          other online services  covering issues such as user privacy,  pricing,
          content, copyrights,  distribution, and characteristics and quality of
          products and services.  Furthermore, the growth and development of the
          market  for  online  commerce  may  prompt  calls  for more  stringent
          consumer  protection laws that may impose additional  burdens on those


                                       14
<PAGE>

          companies  conducting  business online. The adoption of any additional
          laws or  regulations  may decrease the growth of the Internet or other
          online  services,  which could,  in turn,  decrease the demand for our
          products  and  services  and  increase  our  cost of  doing  business.
          Moreover,  the applicability to the Internet and other online services
          of existing  laws in various  jurisdictions  governing  issues such as
          property ownership,  sales and other taxes, libel and personal privacy
          is uncertain and may take years to resolve.  Any such new legislation,
          the application of laws and regulations from jurisdictions  whose laws
          do not currently apply to our business, or the application of existing
          laws to the  Internet  could  have a  material  adverse  effect on our
          business.

     o    WE FACE  FOREIGN  EXCHANGE  RATE  EXPOSURE.  We offer  payment for our
          software  and  services  in  U.S.  dollars  only,  even  for  non-U.S.
          customers.  With the  majority of expenses  expected to be in Canadian
          dollars,  we will be exposed to fluctuations in foreign exchange rates
          from both a transactional  and translational  perspective.  There is a
          risk that  foreign  exchange  rate  fluctuations  between the Canadian
          dollar and the U.S. dollar will be disadvantageous to the company.

     o    WE DO  NOT  INTEND  TO  PAY  DIVIDENDS  ON  OUR  COMMON  STOCK  IN THE
          FORESEEABLE  FUTURE.  We  cannot  assure  you  that  we  will  achieve
          sufficient  earnings to pay cash  dividends on our common stock in the
          future.   We  intend  to  retain  earnings  to  fund  our  operations.
          Therefore,  we do not  anticipate  paying  any cash  dividends  on our
          common stock in the foreseeable future.

     o    OUR  COMMON  STOCK  PRICE  IS  HIGHLY  VOLATILE  AND  SUBJECT  TO WIDE
          FLUCTUATIONS  AND MARKET RISK. The market price of our common stock is
          highly  volatile  and is subject to wide  fluctuations  in response to
          factors such as actual or  anticipated  changes in operating  results,
          changes in financial estimates by securities analysts, new products or
          services introduced by the company or our competitors,  conditions and
          trends in the software  markets,  general market  conditions and other
          factors.  Historically,  the trading volume of our stock has been low,
          which  may  amplify  changes  in  our  stock  price  especially  if  a
          significant  amount of our stock is sold.  Our stock trades on the OTC
          Bulletin  Board,  which may make if more  difficult  for  investors to
          trade our stock, or to obtain accurate quotations for the market value
          of our stock as compared to stock which trades on larger exchanges.

     o    OUR COMMON STOCK IS SUBJECT TO THE "PENNY  STOCK" RULES OF THE SEC AND
          THE  TRADING  MARKET  IN  OUR  SECURITIES  IS  LIMITED,   WHICH  MAKES
          TRANSACTIONS  IN OUR STOCK  CUMBERSOME  AND MAY REDUCE THE VALUE OF AN
          INVESTMENT IN OUR STOCK.  The Securities  and Exchange  Commission has
          adopted  Rule  15g-9  which  establishes  the  definition  of a "penny
          stock," for the purposes  relevant to us, as any equity  security that
          has a market  price of less than  $5.00 per share or with an  exercise
          price of less than $5.00 per share, subject to certain exceptions. For
          any  transaction  involving a penny stock,  unless  exempt,  the rules
          require:

          o    that  a  broker  or  dealer   approve  a  person's   account  for
               transactions in penny stocks; and
          o    the  broker  or  dealer  receive  from  the  investor  a  written
               agreement  to the  transaction,  setting  forth the  identity and
               quantity of the penny stock to be purchased.

     In order to approve a person's  account for  transactions  in penny stocks,
     the broker or dealer must:

          o    obtain financial information and investment experience objectives
               of the person; and
          o    make a reasonable  determination  that the  transactions in penny
               stocks are suitable for that person and the person has sufficient
               knowledge and  experience  in financial  matters to be capable of
               evaluating the risks of transactions in penny stocks.

     The broker or dealer must also deliver, prior to any transaction in a penny
     stock, a disclosure  schedule  prescribed by the Commission relating to the
     penny stock market, which, in highlight form:

                                       15
<PAGE>

          o    sets  forth  the basis on which  the  broker  or dealer  made the
               suitability determination; and
          o    that the broker or dealer  received a signed,  written  agreement
               from the investor prior to the transaction.

     Generally,   brokers  may  be  less  willing  to  execute  transactions  in
     securities  subject  to the  "penny  stock"  rules.  This  may make it more
     difficult  for investors to dispose of our common stock and cause a decline
     in the market value of our stock.

     Disclosure also has to be made about the risks of investing in penny stocks
     in both public offerings and in secondary trading and about the commissions
     payable  to  both  the  broker-dealer  and the  registered  representative,
     current quotations for the securities and the rights and remedies available
     to an  investor  in cases of fraud in penny  stock  transactions.  Finally,
     monthly  statements have to be sent disclosing recent price information for
     the penny stock held in the account and  information  on the limited market
     in penny stocks.

REPORTS TO SECURITY HOLDERS

Although  we are not  required  to deliver  our annual or  quarterly  reports to
security  holders,  we would be pleased to forward this  information to security
holders  upon  receiving  a written  request to receive  such  information.  The
reports and other  information  filed by us will be available for inspection and
copying  at the public  reference  facilities  of the  Securities  and  Exchange
Commission located at 100 F Street, N.E., Washington, D.C. 20549.

Copies  of such  material  may be  obtained  by mail from the  Public  Reference
Section  of the  Securities  and  Exchange  Commission  at 100 F  Street,  N.E.,
Washington, D.C. 20549, at prescribed rates. Information on the operation of the
Public Reference Room may be obtained by calling the SEC at  1-800-SEC-0330.  In
addition,  the  Commission  maintains a World Wide  Website on the  Internet at:
http://www.sec.gov  that contains reports,  proxy and information statements and
other  information  regarding  registrants  that  file  electronically  with the
Securities and Exchange Commission.

ITEM 2.  DESCRIPTION OF PROPERTY.

Our principal facilities are located in Calgary, Alberta occupying approximately
3,600 square feet of office space. Currently our facility is leased on an annual
basis with a monthly rent of $4,935.  The lease  expires  January 31,  2007.  We
believe  that our  existing  facilities  are  suitable  and adequate to meet our
current business requirements.


                                       16
<PAGE>

ITEM 3.  LEGAL PROCEEDINGS.

From  time to time,  we may  become  involved  in  various  lawsuits  and  legal
proceedings which arise in the ordinary course of business.  However, litigation
is subject to inherent  uncertainties,  and an adverse  result in these or other
matters  may  arise  from  time to time  that may harm our  business.  Except as
disclosed  below,  we are currently not aware of any such legal  proceedings  or
claims that we believe will have,  individually or in the aggregate,  a material
adverse affect on our business, financial condition or operating results.

TODD DOUGLAS NOBLE VS. GIVEMEPOWER INC.

On October 27, 2003,  GiveMePower,  Inc., our operating  subsidiary,  received a
notice from the  Provincial  Court of Alberta,  Civil Claims,  wherein Mr. Noble
alleged that GiveMePower,  Inc. failed to pay him certain moneys for services he
performed for the Company.  We believe this case, as it relates to  GiveMePower,
to be without merit and Management does not believe that Mr. Noble will prevail.
The requested payment by Mr. Noble is approximately $13,000.

In response to the Noble Claim,  on the 17th day of November  2003,  GiveMePower
Inc. filed a Dispute Note and Counterclaim  with the Provincial Court of Alberta
Civil Claims.  It consisted of a detailed defense of the claim for funds claimed
by Mr. Noble  together with a  counterclaim  against Mr. Noble claiming from him
the  minimum sum of $36,000 in damages.  Mr.  Noble has filed a Dispute  Note to
this Counterclaim.

By agreement between the parties evidenced by a Consent Order, both the Noble
Claim and the GiveMePower Counterclaim were transferred to the Court of Queens
Bench of Alberta on April 2, 2004 and are both still pending.

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

None.


                                       17
<PAGE>

                                     PART II

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

MARKET INFORMATION

Our  common  stock is  traded  over the  counter  and is  quoted by the Over The
Counter  Bulletin  Board (OTCBB) under the trading symbol GMPW. Our common stock
began trading on the OTCBB  effective  March 28, 2002.  Prior to this date,  our
common stock was quoted on the National  Quotation  Bureau ("Pink Sheets") which
commenced  December 20, 2000 when we entered into our reverse merger with TelNet
World Communications, Inc.

The  market  prices  noted  below  were  obtained  from the  OTCBB  and  reflect
inter-dealer prices, without retail mark-up, mark-down or commission and may not
represent actual transactions.


                              Fiscal 2006                     Fiscal 2005
                        -----------------------         -----------------------
                        High                Low         High                Low
                        ----                ---         ----                ---
First Quarter           $.32               $.19         $.40               $.24
Second Quarter          $.40               $.22         $.65               $.20
Third Quarter           $.42               $.26         $.65               $.31
Fourth Quarter          $.42               $.17         $.44               $.26

HOLDERS

As of June 30, 2006, the approximate number of holders of record of our Common
Stock was 1,039 as compared to 1,600 as of June 30, 2005.

DIVIDENDS

We have not declared any cash  dividends on our common stock since our inception
and do not anticipate paying any dividends in the foreseeable future. We plan to
retain any future  earnings for use in our business.  Any decisions as to future
payment of dividends will depend on our earnings and financial position and such
other factors as the Board of Directors deems relevant.

RECENT SALE OF UNREGISTERED SECURITIES

Unless otherwise noted, the issuances noted below are all considered exempt from
registration  by  reason  of  Section  4(2) of the  Securities  Act of 1933,  as
amended.

2006 TRANSACTIONS

During the year, we issued  1,670,120  shares of common stock to consultants and
vendors for their services. The shares were valued and recorded at $453,098.

The issuances were considered exempt by reason of Regulation D of the Securities
Act of 1933  and  Rule  506  promulgated  thereunder,  and  Section  4(2) of the
Securities Act of 1933.



                                       18
<PAGE>




ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

The following  information  should be read in conjunction  with the consolidated
financial  statements and the notes thereto contained  elsewhere in this report.
The Private  Securities  Litigation  Reform Act of 1995 provides a "safe harbor"
for  forward-looking  statements.  Information  in this  Item  6,  "Management's
Discussion and Analysis or Plan of Operation," and elsewhere in this 10-KSB that
does  not  consist  of  historical  facts,  are  "forward-looking   statements."
Statements  accompanied  or  qualified  by, or  containing  words such as "may,"
"will,"  "should,"   "believes,"   "expects,"  "intends,"  "plans,"  "projects,"
"estimates,"  "predicts,"  "potential,"  "outlook,"  "forecast,"  "anticipates,"
"presume," and "assume" constitute forward-looking  statements, and as such, are
not a guarantee of future performance. The statements involve factors, risks and
uncertainties  including those discussed in the "Risk Factors" section contained
elsewhere in this  report,  the impact or  occurrence  of which can cause actual
results  to  differ  materially  from the  expected  results  described  in such
statements.  Risks and uncertainties can include, among others,  fluctuations in
general  business  cycles and changing  economic  conditions;  changing  product
demand and  industry  capacity;  increased  competition  and pricing  pressures;
advances in technology that can reduce the demand for the Company's products, as
well as other factors, many or all of which may be beyond the Company's control.
Consequently,  investors  should not place  undue  reliance  on  forward-looking
statements as predictive of future results. The Company disclaims any obligation
to update the forward-looking statements in this report.

COMPARISON OF RESULTS FOR THE FISCAL YEARS ENDED JUNE 30, 2006 AND JUNE 30, 2005

The current year's net loss was $1,560,500 as compared to $787,275 during fiscal
2005,  an  increase  of  $773,225  or 98.2%.  The  increased  loss is  primarily
attributable to reduced sales of our mobile products due to unforeseen technical
incompatibilities  encountered with Microsoft's new Windows Mobile 5.0 operating
system  introduced  during fiscal 2006, and a one-time  interest  expense charge
relating to  renegotiation  of two notes  payable on May 1, 2006.  The  specific
details of these changes are discussed below.

REVENUES

Revenue  totaled  $184,985 for the current fiscal period as compared to $189,916
during fiscal 2005, a decrease of $4,931 or 2.6%.

Retail Revenue
--------------

Retail  revenue  totaled  $146,138 for the current  fiscal period as compared to
$167,126  during  fiscal 2005, a decrease of $20,988 or 12.6%.  Retail  revenues
decreased primarily due to unforeseen  technical  incompatibilities  between our
mobile products and new Microsoft mobile  operating  systems  introduced  during
fiscal 2006.  Enhancements  to our mobile  solutions to support  operation under
Windows  Mobile  5.0  and  CE  .NET  5.0  operating  systems  are  presently  in
development, and are scheduled for anticipated delivery in October, 2006.

Until support for these newer Microsoft operating systems is completed, sales of
our mobile products are expected to be minimal.  However,  after introduction of
updated  mobile  products and  solutions  which  support  these newer  Microsoft
operating systems, we anticipate sales of our mobile products to increase during
the remainder of fiscal 2007.

Embedded Revenue
----------------

Embedded  revenue  totaled  $38,847 for the current fiscal period as compared to
$22,790 during fiscal 2005, an increase of $16,057 or 70.5%.  Embedded  revenues
increased due to the introduction of an additional third-party software solution
developed by Allen  Datagraph,  an Embedded  Partner  which the company  derives
royalty revenues from.

                                       19
<PAGE>

OPERATING EXPENSES

Cost of Revenue
---------------

Cost of revenues  totaled  $28,922 for the current  fiscal period as compared to
$32,393 during fiscal 2005, a decrease of $3,471.  Cost of revenues is comprised
of CD costs, CD packaging and payments to third parties including resellers.

Selling, Sales and Marketing
----------------------------

Selling,  sales and marketing  expenses  totaled  $76,580 for the current fiscal
period as compared to $95,200  during fiscal 2005, a decrease of $18,620.  Sales
and marketing  expenses  decreased  due to the  concentrated  focused  effort of
expanding and further developing our product line to support operation under the
latest  Microsoft  mobile  operating  systems  for  broader   commercial  market
introduction in fiscal 2007.

General and Administrative
--------------------------

General and  administrative  expenses  totaled  $596,978 for the current  fiscal
period as compared to $424,740  during  fiscal  2005,  an increase of  $172,238.
General  and   administrative   increased  due  to  increased   expenditures  on
administrative costs relating to external consultants in professional  services,
legal and general advisory.

R&D - Product Development
-------------------------

Product  development  expenses totaled $207,005 for the current fiscal period as
compared to $257,647 during fiscal 2005. The majority of our product development
costs resulted from our obligation to make minimum quarterly payments of $50,000
to  GiveMePower  GmbH  in  return  for  ongoing  development  of  core  PowerCAD
technologies.

Depreciation
------------

Depreciation  expense  remained  constant  and  reflects the addition of capital
assets acquired during the current and previous fiscal periods.

Interest Expense
----------------

Interest  expense  totaled  $833,754  for the 2006 fiscal  period as compared to
$163,758  during  fiscal  2005.  A  significant  portion  of  this  increase  is
attributed to a one-time  interest payable charge of $423,000 recorded on May 1,
2006 relating to a renegotiation of two notes payable. The remaining increase is
attributed to increased interest on borrowings we made during fiscal 2006.

Details of the above mentioned notes payable renegotiation are:

On May 1, 2006,  GiveMePower  entered  into an  agreement to revise two existing
loans from a  shareholder,  one from May 18, 2005 with an original  principal of
$27,000,  and one  from  July  2005  with an  original  principal  of  $300,000.
Information  related to the original  loans and the revised loan agreement is as
follows:

          o    The original two loan notes have been combined into a single note
               which replaces the prior notes in their entirety effective May 1,
               2006.

          o    The original  loan notes  contained a clause ("the GLG  clause"),
               whereby  the  principal  amount  owing  was tied to the  value of
               Glamus Gold ("GLG"),  another stock which the note holder sold to
               provide the original loan amounts or $327,000 to GiveMePower.

                                       20
<PAGE>

          o    The share price of GLG has increased  dramatically since entering
               into the original loan notes,  precipitating the need for Company
               management to renegotiate  the original loan agreements to remove
               the GLG clause going forward.

          o    Pursuant  to the  GLG  clause  in  the  original  agreements,  an
               additional  $423,000  has been added to the new note,  increasing
               the principal from $327,000 to $750,000.  This additional  amount
               has been recorded as interest expense.

          o    The new note is unsecured,  bears interest at 10%, and is due May
               1, 2011.

          o    The new note is convertible into 5,000,000 shares of common stock
               at  conversion  price of $0.15 per share.  A discount on the note
               payable was recorded for the beneficial conversion feature.

          o    The new note  contains  warrants  entitling  the  shareholder  to
               purchase up to 2,500,000  additional common shares of GiveMePower
               at $0.15 per share, exercisable for the life of the note.

Under generally accepted  accounting  principles,  we are required to record the
value of the beneficial conversion feature of these convertible  debentures as a
debt discount.  The unamortized  debt discount is $880,185 and will be amortized
and charged to interest expense over the term of the respective note agreements.
In the event the investors  convert the debentures  prior to the maturity of the
agreements then generally accepted  accounting  principles require us to expense
the unamortized balance of the debt discount in full.

FUTURE RESULTS

The results of operations  for Fiscal 2006 and Fiscal 2005  presented  above are
not  necessarily  indicative  of the results to be expected for upcoming  fiscal
years and will depend on a number of factors including,  but not limited to, the
following: timing of launch, access to capital, competition, market penetration,
market acceptance, and marketing initiatives.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2006, we had negative  working  capital of $1,004,823 as compared
to negative  working capital of $1,197,844 in the prior fiscal period.  Non-cash
current liabilities consisted of $170,000 in notes payable which are intended to
be settled by conversion  to common stock.  We will continue to rely on external
sources of capital to finance the execution of our business plan. We do not have
any firm  commitments  to raise  additional  capital nor is there any  assurance
additional  capital will be available at acceptable  terms.  We continue to seek
additional sources of funding for working capital purposes.

Cash Flow from Operations
-------------------------

For the year ended June 30, 2006, our net cash used in operating  activities was
$407,086 as compared to $351,590  for fiscal  2005,  an increase of $55,496 from
the  prior  fiscal  period.  We used  more  cash in our  operations  than in the
previous period largely due to increased  expenditures on  administrative  costs
relating to external  consultants in  professional,  legal and general  advisory
services.

Capital Expenditures
--------------------

For the year ended June 30, 2006,  we had net capital  expenditures  of $353 for
various computer and equipment items in comparison of $1,489 for fiscal 2005 for
the previous fiscal period.  We expect to incur future capital  expenditures for
office furniture and computer equipment if and when we hire new employees and/or
expand our operations.

                                       21
<PAGE>

Financing Activities
--------------------

For the year ended June 30,  2006,  we  received  proceeds  from  borrowings  of
$380,000 as compared to $239,000 from the prior fiscal year.

Based upon our  substantial  accumulated  losses since  inception of $7,485,872,
including a loss of $1,560,500 for the year ended June 30, 2006, working capital
deficiency of  $1,007,672  and  stockholders'  deficit of $1,254,303 at June 30,
2006, our current rate of cash consumption, the uncertainty of liquidity-related
initiatives  described  in  detail  below,  and the  reasonable  possibility  of
on-going   negative   impacts  on  our  operations  from  the  overall  economic
environment for a further unknown period of time, there is substantial  doubt as
to our  ability to  continue  as a going  concern.  We  anticipate  that we will
require between $720,000 to $1,000,000 to fund our continued  operations for the
next twelve months, depending on revenues derived from operations.

Our audited consolidated financial statements have been prepared on a basis that
contemplates  our  continuation as a going concern and the realization of assets
and liquidation of liabilities in the ordinary  course of business.  Our audited
consolidated  financial  statements  do not  include any  adjustments,  with the
exception of the  provision  to reduce the carrying  values of the assets of the
subsidiaries in liquidation to their estimated net realizable value, relating to
the  recoverability  and classification of recorded asset amounts or the amounts
and classification of liabilities that might be necessary should we be unable to
continue as a going concern.  If we fail to raise capital when needed,  the lack
of  capital  will have a  material  adverse  effect on our  business,  operating
results and financial condition.

The  successful  implementation  of our  business  plan has  required,  and will
require on a going forward  basis,  sufficient  funds to finance (i)  continuing
ongoing operations, (ii) further development of our software technologies, (iii)
settlement  of existing  liabilities  including  use of cash and/or  issuance of
shares, and (iv) possible selective acquisitions of software licenses to achieve
the products we believe will be necessary to remain  competitive in the computer
aided drawing industry.  There can be no assurance that we will be successful in
raising the necessary funds.

During fiscal 2006, the introduction of new operating systems by Microsoft which
introduced  unforeseen  incompatibilities  with many of our primary products and
solutions had a substantial negative impact on our results of operations.  These
factors,  in  combination  with our  continuing  negative  operating cash flows,
placed  significant  pressures on our  financial  condition  and  liquidity  and
negatively  impacted  our  operations.  Operating  activities  resulted  in cash
consumption of $407,086 in 2006 primarily due to our losses. During fiscal 2006,
we funded our operating  activities primarily with $380,000 from debt financing.
At June 30, 2006, we had $11,535 of cash on hand.

Outlook
-------

Our  sources  of ongoing  liquidity  include  the cash flows of our  operations,
potential  new  credit  facilities,  and  potential  additional  equity  or debt
investments.  Consequently,  we continue to aggressively  pursue additional debt
and equity financing, the restructuring of certain existing debt obligations and
the reduction of our operating expenses. Although we have structured our overall
operations  and  resources  around high gross  margin  enterprise  products  and
services,  in order to remain in business,  we must raise  additional  cash in a
timely and prudent fashion.

                                       22
<PAGE>

The  following  initiatives  related to raising  the  required  funds,  settling
liabilities and/or reducing expenses have been completed or are in process:

     o    Updating our  business  plan to be used as a guiding tool for the next
          12 month period;
     o    Leverage the business plan to enter into term sheet  negotiations with
          appropriate venture capitalists;
     o    Negotiating  the  elimination of significant  accounts  payable to our
          major vendor;
     o    Renegotiating   future  royalty   payments  with  our  major  software
          supplier; and

     o    Maintaining fiscal  responsibility  towards general and administrative
          expenses.


                                       23
<PAGE>




ITEM 7.  FINANCIAL STATEMENTS.

                             GIVEMEPOWER CORPORATION


                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>

                                                                                   Page

<S>                                                                                <C>
    Report of Independent Registered Public Accounting Firm                        F-2

    Consolidated Balance Sheet as of June 30, 2006                                 F-3

    Consolidated Statements of Operations for the years ended
    June 30, 2006 and 2005                                                         F-4

    Consolidated  Statements  of  Stockholders'  Deficit for the years ended
    June 30, 2006 and 2005                                                         F-5

    Consolidated Statements of Cash Flows for the years ended
    June 30, 2006 and 2005                                                         F-6

    Notes to Consolidated Financial Statements                                     F-7

</TABLE>


                                       F-1
<PAGE>






             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors
   GiveMePower Corporation
   Calgary, Alberta, Canada



We have  audited the  accompanying  consolidated  balance  sheet of  GiveMePower
Corporation  as of June 30, 2006,  and the related  consolidated  statements  of
operations,  stockholders'  deficit, and cash flows for the years ended June 30,
2006 and 2005. These consolidated financial statements are the responsibility of
GiveMePower's  management.  Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.

We conducted our audits in accordance  with  standards of the Public  Accounting
Oversight  Board  (United  States).  Those  standards  require  that we plan and
perform the audit to obtain  reasonable  assurance  about  whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion, the consolidated  financial statements referred to above present
fairly, in all material respects,  the financial position of GiveMePower,  as of
June 30,  2006,  and the  results of its  operations  and its cash flows for the
periods described in conformity with accounting principles generally accepted in
the United States of America.

The accompanying  consolidated  financial statements have been prepared assuming
that GiveMePower will continue as a going concern. As discussed in Note 2 to the
consolidated  financial  statements,  GiveMePower has suffered  recurring losses
from operations and has a negative  working  capital,  which raises  substantial
doubt  about its  ability to continue  as a going  concern.  Management's  plans
regarding  those  matters are  described in Note 2. The  consolidated  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainty.




MALONE & BAILEY, PC
www.malone-bailey.com
Houston, Texas

September 28, 2006



                                      F-2
<PAGE>



                             GIVEMEPOWER CORPORATION
                           CONSOLIDATED BALANCE SHEET
                               As of June 30, 2006

<TABLE>
<CAPTION>


         ASSETS

Current Assets:

<S>                                                                                    <C>
  Cash                                                                          $       11,535
  Accounts receivable, net of the allowance
    for doubtful accounts of $5,466                                                      6,912
                                                                                --------------
Total current assets                                                                    18,447


Property and equipment, net of the accumulated
  depreciation of $45,500                                                                2,849
                                                                                --------------
TOTAL ASSETS                                                                    $       21,296
                                                                                ==============


         LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
  Accounts payable                                                              $       29,312
  Accounts payable - related parties                                                   620,461
  Accrued expenses                                                                     153,444
  Notes payable                                                                         52,902
  Notes payable - related parties                                                      170,000
                                                                                --------------
         Total current liabilities                                                   1,026,119

Long-term Liabilities:
  Notes payable, net of unamortized discount of $52,083                                  2,917
  Notes payable - related parties, net of
      unamortized discount of $660,333                                                 246,563
                                                                                --------------
         Total liabilities                                                           1,275,599
                                                                                --------------

Commitment and Contingencies                                                                 -

STOCKHOLDERS' DEFICIT
  Common stock, $.001 par value, 50,000,000
    shares authorized, 29,321,338 shares issued and outstanding                         29,321
  Additional paid-in capital                                                         6,072,530
  Retained deficit                                                                  (7,501,203)
  Other comprehensive income - foreign currency translation                            145,049
                                                                                --------------
         Total stockholders' deficit                                                (1,254,303)
                                                                                --------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                     $       21,296
                                                                                ==============
</TABLE>



                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.



                                      F-3
<PAGE>



                             GIVEMEPOWER CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                       Years Ended June 30, 2006 and 2005


<TABLE>
<CAPTION>



                                                                                     2006                      2005
                                                                                --------------           --------------
<S>                                                                                    <C>                      <C>
Revenues                                                                        $      184,985           $      189,916
Cost of revenues                                                                        28,922                   32,393
                                                                                --------------           --------------

Gross profit                                                                           156,063                  157,523
                                                                                --------------           --------------
Operating expenses
  Selling and marketing                                                                 76,580                   95,200
  General and administrative                                                           596,978                  424,740
  Research and development                                                             207,005                  257,647
  Depreciation                                                                           2,246                    3,453
                                                                                --------------           --------------

Total operating expenses                                                               882,809                  781,040
                                                                                --------------           --------------

Operating loss                                                                        (726,746)                (623,517)


Interest expense                                                                      (833,754)                (163,758)
                                                                                --------------           --------------

NET LOSS                                                                           $(1,560,500)          $     (787,275)
                                                                                ==============           ==============



Basic and diluted loss per share                                                $        (0.05)          $        (0.03)

Weighted average shares outstanding                                                 28,403,578               27,264,853

</TABLE>


                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.



                                      F-4
<PAGE>



                             GIVEMEPOWER CORPORATION
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
                       Years Ended June 30, 2006 and 2005

<TABLE>
<CAPTION>
                                                             Additional                         Other
                             Common Stock                     Paid-in        Retained      Comprehensive
                                Shares         Par            Capital         Deficit       Income/loss          Total
                              ----------   ----------      ------------    -----------      -----------       -----------
<S>                               <C>         <C>               <C>              <C>            <C>                <C>

Balances, June 30, 2004       27,049,433   $   27,051      $  4,175,455    $(5,153,428)      $  200,545       $  (750,377)
Discount on notes payable
 - for beneficial
     conversion feature                                         101,850                                           101,850

Shares cancelled                (250,000)        (250)              250                                                 -

Shares issued
 - for services                  318,861          318           112,652                                           112,970
 - for debt                       10,000           10             4,590                                             4,600

Comprehensive loss:
Net loss                                                                      (787,275)                          (787,275)
Foreign currency
  translation                                                                                   (24,416)          (24,416)
                                                                                                              -----------
Total comprehensive loss                                                                                         (811,691)
                              ----------   ----------      ------------    -----------      -----------       -----------

Balances, June 30, 2005       27,128,294       27,129         4,394,797     (5,940,703)         176,129        (1,342,648)

Discount on notes payable
 - for beneficial
     conversion feature                                       1,050,000                                         1,050,000

Shares issued
 - for services                1,670,120        1,670           451,425                                           453,095
 - for notes payable and
     accrued interest            522,924          522           176,308                                           176,830

Comprehensive loss:
Net loss                                                                    (1,560,500)                        (1,560,500)
Foreign currency
  translation                                                                                   (31,080)          (31,080)
                                                                                                              -----------
Total comprehensive loss                                                                                       (1,591,580)
                              ----------   ----------      ------------    -----------      -----------       -----------
Balances, June 30, 2006       29,321,338   $   29,321      $  6,072,530    $(7,501,203)       $ 145,049       $(1,254,303)
                              ==========   ==========      ============    ===========      ===========       ===========
</TABLE>



                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.



                                       F-5
<PAGE>




                             GIVEMEPOWER CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                       Years Ended June 30, 2006 and 2005

<TABLE>
<CAPTION>

                                                                                     2006                     2005
                                                                                --------------           --------------
<S>                                                                                   <C>                      <C>
Cash Flows from Operating Activities:
  Net loss                                                                      $   (1,560,500)          $     (787,275)
  Adjustments to reconcile net loss to net cash
  used in operating activities:
    Bad debt expense                                                                         -                    8,124
    Shares issued for services                                                         453,095                  112,969
    Amortization on debt discount                                                      337,584                  123,945
    Depreciation expense                                                                 2,246                    3,452
    Non-cash interest expense from notes
      payable renegotiation                                                            423,000                        -
  Changes in:
    Accounts receivable                                                                 (1,508)                  (3,602)
    Other current assets                                                                     -                    1,142
    Accounts payable                                                                   (54,807)                 220,316
    Accrued expenses                                                                    (6,196)                 (34,796)
    Other current liabilities                                                                -                    4,135
                                                                                --------------           --------------
Net Cash Used in Operating Activities                                                 (407,086)                (351,590)
                                                                                --------------           --------------

Cash Flows from Investing Activities:
  Purchase of fixed assets                                                                (353)                  (1,489)
                                                                                --------------           --------------

Cash Flows from Financing Activities:
  Borrowings from notes payable - related parties                                      380,000                  239,000
                                                                                --------------           --------------

Effect of exchange rate changes on cash                                                 35,521                  (36,530)
                                                                                --------------           --------------

Net change in cash                                                                       8,082                 (150,609)
CASH AND CASH EQUIVALENTS, beginning of year                                             3,453                  154,062
                                                                                --------------           --------------

CASH AND CASH EQUIVALENTS, end of year                                          $       11,535           $        3,453
                                                                                ==============           ==============

Cash Paid for:
  Interest                                                                      $           -            $            -
  Income taxes                                                                              -                         -

Non-Cash Investing and Financing Transactions:
  Shares issued for notes payable and
    accrued interest                                                            $     176,830            $        4,600
  Discount on notes payable - beneficial
    conversion feature                                                              1,050,000                   101,850


</TABLE>

                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.



                                      F-6
<PAGE>



                             GIVEMEPOWER CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 - SUMMARY OF ACCOUNTING POLICIES

GiveMePower  Corporation,  a Nevada  corporation  formed  in April  2000,  sells
software geared to end users and developers involved in the design, manufacture,
and construction of engineered products located in Canada and the United States,
through its wholly owned Canadian subsidiary GiveMePower Inc.

Principles of consolidation.  The consolidated  financial statements include the
accounts  of  GiveMePower  and  its  subsidiary   GiveMePower   Inc.  after  the
elimination  of  intercompany  transactions.  All  references  to  "GiveMePower"
include the  transactions of GiveMePower and its subsidiary,  accounted for on a
consolidated basis.

Use of Estimates. In preparing financial statements,  management makes estimates
and  assumptions  that affect the reported  amounts of assets and liabilities in
the balance  sheet and revenue and  expenses  in the  statement  of  operations.
Actual results could differ from those estimates.

Revenue recognition.  GiveMePower recognizes revenue when persuasive evidence of
an  arrangement  exists,  delivery  has  occurred,  the sales  price is fixed or
determinable and  collectibility  is probable.  Revenue is derived from sales of
PowerCAD  software to end users,  developer sign-up fees, and royalties per unit
purchased for resale from the sale of PowerCAD  Embedded  technology to software
developers,  who  create  and  resell  value-added  applications.  Revenue  from
software  sales  to end  users  is  recognized  when the  software  is  shipped.
Developer  sign-up fees consist of the sale of software  licenses and a one year
help desk  subscription  to developers.  Experience has shown that the help desk
subscription is  insignificant  in cost and time and should not be deferred over
time.  Revenue from developer  sign-up fees is recognized  when the licenses are
delivered.  Royalty  revenue from developers is recognized each time a developer
obtains  alphanumeric  codes that  enable  copies of the  development  engine to
properly  function in the developer's end product.  Warranty claims and customer
help services are considered insignificant.

Cash  and  cash  equivalents.  For  purposes  of the  statement  of cash  flows,
GiveMePower  considers all highly liquid investments  purchased with an original
maturity of three months or less to be cash equivalents.

Office  equipment.  Property  and  equipment  consists  of  computer  and office
equipment and is stated at cost. It is depreciated on a straight-line basis over
the estimated useful lives of 2-5 years.

Income taxes.  GiveMePower  recognizes deferred tax assets and liabilities based
on  differences  between  the  financial  reporting  and tax bases of assets and
liabilities  using the  enacted  tax rates and laws that are  expected  to be in
effect when the differences are expected to be recovered. GiveMePower provides a
valuation  allowance  for  deferred  tax assets  for which it does not  consider
realization of such assets to be more likely than not.

Basic and diluted loss per common share.  The basic net loss per common share is
computed  by  dividing  the net loss by the  weighted  average  number of common
shares  outstanding.  Diluted net loss per common  share is computed by dividing
the net loss adjusted on an "as if  converted"  basis,  by the weighted  average
number of common shares outstanding plus potential dilutive securities.  For the
years  ended  June 30,  2006 and  2005,  potential  dilutive  securities  had an
anti-dilutive  effect and were not  included in the  calculation  of diluted net
loss per common share.




                                       F-7
<PAGE>

Foreign  currency   translation.   GiveMePower's   assets  and  liabilities  are
translated to U.S. dollars at end-of-period  exchange rates. The effects of this
translation  are  reported  in  other  comprehensive  income.  Income  statement
elements are translated to U.S. dollars at  average-period  exchange rates. Also
included in income are gains and losses arising from transactions denominated in
a currency other than Canadian dollars,  the functional currency of GiveMePower,
Inc.

Stock-Based Compensation. Effective January 1, 2006, GiveMePower began recording
compensation  expense  associated  with stock  options and other forms of equity
compensation in accordance with Statement of Financial  Accounting Standards No.
123R,  Share-Based  Payment, as interpreted by SEC Staff Accounting Bulletin No.
107.  Prior to January 1, 2006,  GiveMePower  had  accounted  for stock  options
according to the  provisions  of  Accounting  Principles  Board  Opinion No. 25,
Accounting  for Stock  Issued to  Employees,  and related  interpretations,  and
therefore no related  compensation  expense was recorded for awards granted with
no intrinsic  value.  GiveMePower  adopted the modified  prospective  transition
method  provided  for  under  SFAS  No.  123R,  and,   consequently,   have  not
retroactively adjusted results from prior periods.

No stock options were granted during fiscal 2006 and 2005.

Recently  Issued  Accounting  Pronouncements.  GiveMePower  does not  expect the
adoption  of any  other  recently  issued  accounting  pronouncements  to have a
significant  impact  on  their  consolidated  financial  position,   results  of
operations or cash flow.


NOTE 2 - GOING CONCERN

GiveMePower's  consolidated  financial  statements have been prepared on a going
concern basis,  which  contemplates  the realization of assets and settlement of
liabilities and commitments in the normal course of business for the foreseeable
future.  Since  inception  in April 2000,  GiveMePower  has  accumulated  losses
aggregating  $7,501,203,  including a loss of $1,560,500 for the year ended June
30,  2006.  GiveMePower  had a  working  capital  deficit  of  $1,007,672  and a
stockholders' deficit of $1,254,303 as of June 30, 2006.  Management's plans for
GiveMePower's  continued  existence  include  cutting  overhead  costs,  selling
additional stock or borrowing  additional funds to increase marketing efforts to
raise its sales  volume  and  leveraging  third  party  agents to  significantly
broaden current sales channels.

GiveMePower's future success is dependent upon its ability to achieve profitable
operations  and generate  cash from  operating  activities,  and upon  obtaining
additional  financing.  There is no assurance that  GiveMePower  will be able to
generate  sufficient  cash from  operations  or through  the sale of  additional
shares of common stock or borrow additional funds.

GiveMePower's  ability to obtain  additional cash could have a material  adverse
effect on its  financial  position,  results of  operations  and its  ability to
continue in existence.  The consolidated financial statements do not include any
adjustments that might result from the outcome of this uncertainty.


NOTE 3 -LICENSE AGREEMENT

During  fiscal 2005,  Felix  Computer  Aided  Technologies  GmbH  ("Felix")  and
AutoPack GmbH ("AutoPack") were re-organized into GiveMePower GmbH.  GiveMePower
GmbH is a company owned and  controlled  by Wilfried  Grabert who was a director
and currently is a majority shareholder of GiveMePower.

GiveMePower utilizes core technologies developed and manufactured by GiveMePower
GmbH and as such is obligated to make minimum quarterly payments of $50,000 with
a royalty  offset of 15% of net sales of  PowerCAD  products.  Both the  minimum
quarterly and royalty fees are charged to research and  development  as a period
cost.




                                       F-8
<PAGE>

As of  June  30,  2006,  GiveMePower  was  current  with  its  minimum  required
GiveMePower GmbH payments.


NOTE 4 - NOTES PAYABLE

Notes  payable  consists of advances  from  individual  investors  and  existing
shareholders.  These notes are  unsecured,  bear  interest at 5% to 10%, and are
repayable  in one to five years.  These  notes are  convertible  into  9,246,720
shares of common stock at conversion prices ranging from $.15 to $.64 per share.
Because  these  conversion   prices  are  below  the  market  trading  price  of
GiveMePower's  common stock when the notes were issued, a Beneficial  Conversion
Feature was created.

GiveMePower analyzed these instruments for derivative  accounting  consideration
under SFAS 133 and EITF 00-19. GiveMePower determined that derivative accounting
is not applicable.

The proceeds from the notes have been  discounted for the beneficial  conversion
feature.  All discounts will be amortized over the life of the notes. As of June
30, 2006, the stock has not been issued. A summary of the notes is as follows:


  Carrying amount of notes on June 30, 2005              $      540,457
  Add: gross proceeds from notes                                380,000
  Add: increase due to currency exchange                          4,674
  Less: beneficial conversion feature                        (1,050,000)
  Add: amortization of discounts                                337,584
  Less: repayment of notes                                     (163,333)
  Add: additional interest on notes resulting
       from loan note renegotiation                             423,000
                                                         --------------
  Carrying amount of notes on June 30, 2006              $      472,382
                                                         ==============


NOTE 5 - COMMITMENTS AND CONTINGENCIES

On October 27, 2003, we received a notice from the Provincial  Court of Alberta,
Civil  Claims,  wherein Mr.  Todd Noble,  our former  Chief  Financial  Officer,
alleged that we failed to pay him certain  moneys for services he performed  for
GiveMePower,  Inc. We believe this case to be without  merit and the  Management
does not believe that Mr. Noble will prevail. The requested payment by Mr. Noble
is approximately $13,000, which has been fully accrued.

In response to the Noble Claim,  on November  17, 2003,  we filed a Dispute Note
and Counterclaim with the Provincial Court of Alberta Civil Claims. It consisted
of a detailed  defense of the claim for funds claimed by Mr. Noble together with
a counterclaim against Mr. Noble claiming from him the minimum sum of $36,000 in
damages. Mr. Noble has filed a Dispute Note to this Counterclaim.

Both the Noble Claim and the GiveMePower  Counterclaim  were  transferred to the
Court of Queens Bench of Alberta on April 2, 2004 and are both still pending.

We lease office space under an operating  lease which  expires in January  2007.
Rent expense under operating  leases was $44,918 and $38,058 for the years ended
June 30, 2006 and 2005.  Future minimum lease payments under the  non-cancelable
operating lease are $55,524 for fiscal 2007.


                                       F-9
<PAGE>

NOTE 6 - OPTIONS AND WARRANTS

Summary information regarding options and warrants is as follows:
<TABLE>
<CAPTION>

                                                 Weighted                       Weighted
                                                  Average                        Average
                                                 Exercise                       Exercise
                                    Options         Price      Warrants            Price
                                  ---------      --------     ---------         --------
<S>                                  <C>           <C>            <C>             <C>
Outstanding at
  June 30, 2004                   1,510,000      $   0.30       200,000         $   0.53

Year ended June 30, 2005:
  Expired                                 -             -      (125,000)            0.25
  Granted                                 -             -             -                -
                                  ---------      --------     ---------         --------
Outstanding at
  June 30, 2005                   1,510,000      $   0.30        75,000         $   1.00

Year ended June 30, 2006:
  Expired                                 -             -       (75,000)            1.00
  Granted                                 -             -     2,984,452             0.18
                                  ---------      --------     ---------         --------
Outstanding at June 30, 2006      1,510,000      $   0.30     2,984,452         $   0.18
                                  =========      ========     =========         ========
</TABLE>

The weighted  average fair value of the warrants  granted during fiscal 2006 was
$0.21. Variables used in the Black Scholes  option/warrant-pricing model include
(1) 5.16%  risk-free  interest  rate,  (2) expected  option/warrant  life is the
actual life of the  warrants,  (3)  expected  volatility  of 130%,  and (4) zero
expected dividends.

Options and warrants outstanding and exercisable as of June 30, 2006:
<TABLE>
<CAPTION>

Exercise      Remaining         Options           Options       Warrants       Warrants
Price              Life     Outstanding       Exercisable    Outstanding    Exercisable
--------      ---------     -----------      ------------    -----------   ------------
<C>              <C>            <C>                <C>           <C>            <C>
$0.30           7 years       1,510,000         1,510,000              -              -
$0.35           2 years               -                 -        126,118        126,118
$0.35                 -               -                 -         25,000              -
$0.30                 -               -                 -        333,334              -
$0.15                 -               -                 -      2,500,000              -
                            -----------      ------------    -----------   ------------
                              1,510,000         1,510,000      2,984,452        126,118
                            ===========      ============    ===========   ============
</TABLE>

NOTE 7 - COMMON STOCK

During the year ended June 30, 2006:

- GiveMePower issued 1,670,120 shares of common stock to consultants and vendors
for their services. The shares were valued and recorded at $453,098.

- GiveMePower  issued 522,924 shares of common stock to several investors to pay
off certain notes payable and accrued interest in the amount of $176,830.

During the year ended June 30, 2005:

- GiveMePower cancelled 250,000 shares previously issued.
- GiveMePower  issued 318,861  shares of common stock to  consultants  for their
services.  The shares were valued and recorded at $112,969. - GiveMePower issued
10,000  shares of common  stock to pay off an  account  payable in the amount of
$4,600.



                                      F-10
<PAGE>


NOTE 8 - INCOME TAXES

GiveMePower uses the liability method, where deferred tax assets and liabilities
are  determined  based on the  expected  future tax  consequences  of  temporary
differences between the carrying amounts of assets and liabilities for financial
and income tax reporting purposes.  During fiscal 2006, GiveMePower incurred net
losses  and,  therefore,  has no tax  liability.  The  net  deferred  tax  asset
generated by the loss carry-forward has been fully reserved.  The cumulative net
operating loss  carry-forward is approximately  $6,646,000 at June 30, 2006, and
will expire starting from 2023.

At June 30, 2006, deferred tax assets consisted of the following:



                  Deferred tax assets
                    Net operating losses                $   2,259,637
                    Less: valuation allowance              (2,259,637)
                                                        -------------
                  Net deferred tax asset                $           -
                                                        =============


NOTE 9 - MAJOR CUSTOMERS

During the years ended June 30, 2006 and 2005, major customers were as follows:

                                                2006               2005
                                                ----               ----

Allen Datagraph Systems, Inc.                $ 17,207          $      -
Laser Meters                                   16,548            30,045
Cochrans Inc.                                       -            15,604


Note 10 - SEGMENT INFORMATION

Reportable  segments  are based on  internal  organizational  structure  and are
comprised of Retail Products and Embedded Products.  The Retail Products segment
derives  revenues from the sale of pre-packaged  software and related  solutions
and services for businesses and individuals involved in the design, construction
and management of man-made  structures and manufactured  products.  The Embedded
Products  segment  derives  revenues by  licensing  technologies  and  providing
related   support   services  to  Original   Equipment   Manufacturer   hardware
manufacturers  and  third-party  software  developers  who  embed  GiveMePower's
technologies within value-added mobile, wireless and desktop computing solutions
of their own design.

Segment financial information is summarized as follows:

                                                      Corporate
                           Retail        Embedded     and Other       Total
                          ---------     ---------     ---------     ---------
2006
----
Revenue                   $ 146,138     $  38,847     $       -     $ 184,985
Interest expense                  -             -       833,754       833,754
Depreciation and
  amortization                    -             -         2,246         2,246
Net income (loss)            78,926           557    (1,639,983)   (1,560,500)
Total assets                  6,912             -        14,384        21,296
Expenditures for
  long-lived assets               -             -           353           353



                                      F-11
<PAGE>

2005
----
Revenue                   $ 167,126     $  22,790     $       -     $ 189,916
Interest expense                  -             -       163,758       163,758
Depreciation and
  amortization                    -             -         3,453         3,453
Net income (loss)            87,133       (24,810)     (849,598)     (787,275)

Total assets                  4,967             -         7,810        12,777
Expenditures for
  long-lived assets               -             -         1,489         1,489


NOTE 11 - SUBSEQUENT EVENTS

On August 3, 2006,  GiveMePower borrowed $48,000 from a third party lender. This
note is unsecured, bears interest at 10% and is due August 3, 2011. This note is
convertible  into 600,000 shares of common stock at a conversion  price of $0.08
per share.

On  September  28,  2006,  GiveMePower  borrowed  $24,000  from two third  party
lenders.  These notes are unsecured  and bear  interest at 10%.  These notes are
convertible  into 160,000 shares of common stock at a conversion  price of $0.15
per share.  These notes carry a provision  that,  upon  conversion and only upon
conversion,  the note holders will be granted an additional 120,000 common stock
purchase  warrants  which can be  exercised  at $0.30 per share  with a two year
expiry term from the date of conversion.


                                      F-12
<PAGE>



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

There have been no  disagreements  between us and our  accountants as to matters
which require disclosure.

ITEM 8A - CONTROLS AND PROCEDURES

     a)   Evaluation of Disclosure Controls and Procedures. As of June 30, 2006,
          our management carried out an evaluation, under the supervision of our
          Chief   Executive   Officer  and  Chief   Financial   Officer  of  the
          effectiveness  of the design and operation of our system of disclosure
          controls and  procedures  pursuant to the Securities and Exchange Act,
          Rule 13a-15(e) and 15d-15(e) under the Exchange Act).  Based upon that
          evaluation,  the Chief Executive  Officer and Chief Financial  Officer
          concluded that our disclosure  controls and procedures were effective,
          as of the date of their  evaluation,  for the  purposes of  recording,
          processing,  summarizing  and timely  reporting  material  information
          required to be disclosed in reports  filed by us under the  Securities
          Exchange Act of 1934.

     b)   Changes in  internal  controls.  There  were no  changes  in  internal
          controls over  financial  reporting  that  occurred  during the period
          covered by this report that has materially  affected,  or is likely to
          materially effect, our internal control over financial reporting.


ITEM 8B - OTHER INFORMATION

None.


                                       24
<PAGE>



ITEM 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS.

DIRECTORS AND OFFICERS

Our Bylaws  provide that the number of directors who shall  constitute the whole
board  shall be such  number  as the Board of  Directors  shall at the time have
designated.  We confirm that the number of authorized  directors has been set at
five pursuant to our bylaws.  Each director  shall be selected for a term of one
year and until his successor is elected and qualified. Vacancies are filled by a
majority  vote of the  remaining  directors  then in office  with the  successor
elected for the unexpired term and until the successor is elected and qualified.

Information pertaining to our directors and executive officers are as follows:
<TABLE>
<CAPTION>

NAME AND ADDRESS                                AGE      POSITIONS HELD                SINCE
----------------                                ---      --------------                ----------------
<S>                                             <C>           <C>                         <C>
W.V. (Bill) Walton, Calgary, Alberta*           48        Director, President & CEO    April 2000
Richard Cheyne, Vancouver, British Columbia     48        Director                     June 2001
Jeffrey Fajgenbaum, Nashville, Tennessee        47        Director                     June 2001
Douglas Reid, Calgary, Alberta                  51        Director                     December 2, 2004
Jim Bolokoski, Calgary, Alberta*                49        Acting CFO                   September 2003
</TABLE>

* On March 15,  2006,  Jim  Bolokoski  resigned  as acting  CFO to pursue  other
endeavors.  Mr. Bolokoski's  resignation did not relate to any disagreement with
us. Until a replacement is found and/or hired, Bill Walton is serving as Interim
CFO, Treasurer and Secretary.

BUSINESS EXPERIENCE OF OFFICERS AND DIRECTORS

W.V. (BILL) WALTON - DIRECTOR,  PRESIDENT & CEO. Mr. Walton has over 20 years of
company  ownership  and senior  executive  management  experience  in technology
companies.  Mr.  Walton  is the  President  and  sole  shareholder  of  Sundance
Marketing  International Inc.  Incorporated in 1991, Sundance Marketing became a
leading civil engineering and  infrastructure  design software company with 700+
corporate clients using over 2,000 systems.  In April 1999,  Sundance  Marketing
became the  exclusive  North  American  agent for  FelixCAD(R)  and the  Graphic
Developer's Engine(R).  From January 1997 to April 1999, Mr. Walton consulted to
a prominent  manufacturer of surveying and mapping software as Director of Sales
and Marketing,  who is now one of North America's  leading suppliers of software
to land surveyors, civil engineers,  cartographers,  and accident reconstruction
experts.  Prior to forming Sundance Marketing,  Mr. Walton spent nine years with
Cansel Survey  Equipment  Ltd.,  Canada's  largest  Survey  Equipment and Supply
company. For six years, Mr. Walton acted as National Systems Manager for Cansel.
His responsibilities included the creation and expansion of a "Systems" division
within Cansel. This included product establishment/procurement for the division,
growth of the division, and leadership for sales and marketing of the division.

RICHARD  CHEYNE  -  DIRECTOR.   Formerly  a  seven-year   veteran  of  Microsoft
Corporation  from March  1991 to August  1998,  Mr.  Cheyne was one of the early
pioneers of LAN-based email. Working for Consumers Software,  Mr. Cheyne was one
of the key  developers  of what became  "Microsoft  Mail for PC Networks"  after
Microsoft acquired Consumers in 1991. During his time with Microsoft, Mr. Cheyne
served for 5 years as the Quick Fix and Engineering  (QFE) manager for Microsoft
Mail. In 1996,  Mr. Cheyne  became QFE manager for  "Microsoft  Site Server" and
"Microsoft  Commercial Internet Server",  two of Microsoft's  software products.
Mr. Cheyne was responsible for preparing  support staff as well as providing hot
fixes and service packs for all of these products.  Mr.  Cheyne's  experience in
product   development  and  managing  quality  control  standards  for  some  of
Microsoft's most important Internet software  products,  will provide invaluable
direction  in GMPW's  quest to  consistently  deliver  innovative,  high-quality
solutions to its client base.

                                       25
<PAGE>

JEFFREY  FAJGENBAUM - DIRECTOR.  Mr.  Fajgenbaum  has been the Senior IT Project
Manager for  Telecommunications and Networking with ClientLogic  Corporation,  a
global company based in Nashville, Tennessee since November 2004. Fajgenbaum was
formerly a GSOD Global Program Manager for Lucent Technologies from June 1998 to
December  2002 where his  responsibilities  included  planning,  scheduling  and
coordination   of   voice,    data   and   multimedia    projects   for   global
telecommunications and networked environments. He also spent several years, from
1991 to  1998,  as the  Senior  IT  Project  Manager  for  Cisco  Systems,  Inc.
Fajgenbaum  earned a Masters  Certification  in Project  Management  and a BS in
Business Law, and is a Project Management Institute (PMI) member.

DOUGLAS  REID -  DIRECTOR.  Mr.  Reid was the former CEO of  Novatel  Inc.  from
October 1998 to November 2000, and former Vice President of Strategic  Marketing
for  Leica  Geosystems  from  July  2001 to June,  2003.  A highly  accomplished
executive with a distinguished  record of leading global  technology  companies,
Reid brings  over 25 years of public and  private-company  management,  business
development and strategic marketing  experience to his role on the Board. During
his tenure at NovAtel, Reid successfully  completed the company's initial public
offering,  resulting in improved working capital and enhanced shareholder value,
in addition to guiding the overall  development,  sales  strategy and growth for
the organization.  At Leica, Reid drove strategic growth for the world's leading
supplier of comprehensive  products and solutions for the capture,  modeling and
visualization  of spatial  data.  Since  February  2005,  Mr.  Reid has been the
Executive  Vice  President  and General  Manager of Richer  Systems  Group,  the
leading  North  American  vendor and  developer  of ERP and asset  management  &
maintenance software solutions to the fleet management industry.

J.L (JIM) BOLOKOSKI - CHIEF FINANCIAL  OFFICER.  Mr.  Bolokoski was our CFO from
September  9, 2003 until  August 23,  2004 and from August 25, 2005 to March 15,
2006. Bolokoski previously worked at PricewaterhouseCoopers, the world's largest
professional  services  organization,   where  he  advised  public  and  private
companies on corporate  finance  including  capital  raising,  acquisitions  and
divestitures.  Having  served in positions  as chief  financial  officer,  chief
operating officer, and director of investor relations, Mr. Bolokoski's expertise
includes   increasing   shareholder  value,   strategic   alliances,   corporate
restructuring, and taxation.

The above named  directors  will serve in their  capacity as director  until our
next  annual  shareholder  meeting  to be held  within  six months of our fiscal
year's close. Directors are elected for one-year terms.

COMPLIANCE WITH SECTION 16(A) OF THE SECURITIES EXCHANGE ACT OF 1934

Section  16(a) of the  Securities  Exchange  Act of 1934  (the  "Exchange  Act")
requires the Company's  directors and  executive  officers,  and persons who own
more than ten percent of a registered class of the Company's equity  securities,
to file with the Commission  initial reports of ownership and reports of changes
in ownership of the  Company's  Common Stock and other equity  securities of the
Company.  Officers,  directors  and greater  than ten percent  shareholders  are
required by the  Commission's  regulations to furnish the Company with copies of
all Section 16(a) forms they filed.

We have been  provided  with copies of all forms (3, 4 and 5) filed by officers,
directors,  or ten percent shareholders within three days of such filings. Based
on our review of such forms that we received,  or written  representations  from
reporting  persons that no Forms 5s were required for such  persons,  we believe
that,  during  fiscal  2006,  all Section  16(a) filing  requirements  have been
satisfied on a timely basis for members of the Board of Directors  and Executive
Officers.

                                       26
<PAGE>


ITEM 10.  EXECUTIVE COMPENSATION.

We may elect to award a cash bonus to key employees, directors, officers and
consultants based on meeting individual and corporate planned objectives. We
currently have no written employment agreements with any of our officers,
however, the following shows the annual salaries, bonuses and stock options for
our executive officers:
<TABLE>
<CAPTION>

-------------------------------------------------------------------------------------------------------------------------------
                                                  SUMMARY COMPENSATION TABLE
----------------------------------------------------------------- ------------------------------------------- -----------------
                                                                            Long-Term Compensation
------------------------ ---------------------------------------- ------------------------------ ------------ -----------------
                                   Annual Compensation                       Awards                Payouts
--------------- -------- ----------- --------- ------------------ ------------ ----------------- ------------ -----------------
     (a)          (b)       (c)        (d)            (e)             (f)            (g)             (h)            (i)
--------------- -------- ----------- --------- ------------------ ------------ ----------------- ------------ -----------------
                                                      Other          Restricted    Securities
Name and                     Annual     Annual        Annual           Stock       Underlying        LTIP       All Other
Principal         Fiscal     Salary     Bonus      Compensation       Awards      Options/SARs      Payouts   Compensation
Position           Year       ($)        ($)            ($)             ($)            (#)             ($)            ($)
--------------- -------- ----------- --------- ----------------  ------------ ----------------- ------------ -----------------
<S>                 <C>      <C>         <C>          <C>             <C>             <C>            <C>             <C>
W.V.    (Bill)   2006     $   85,500     $0           $0              $0              0              $0              $0
Walton, CEO
--------------- -------- ----------- --------- ----------------  ------------ ----------------- ------------ -----------------
                 2005     $   81,600     $0           $0              $0              0              $0              $0

--------------- -------- ----------- --------- ----------------  ------------ ----------------- ------------ -----------------
                 2004     $   89,000     $0           $0              $0           400,000           $0              $0

--------------- -------- ----------- --------- ----------------  ------------ ----------------- ------------ -----------------
</TABLE>

                                       27
<PAGE>

ITEM 11.  SECURITY  OWNERSHIP OF CERTAIN  BENEFICIAL  OWNERS AND  MANAGEMENT AND
RELATED STOCKHOLDER MATTERS.

The following  table sets forth,  as of June 30, 2006, the number and percentage
of outstanding  shares of company Common Stock owned by (i) each person known to
GMPW to beneficially own more than 5% of its outstanding Common Stock, (ii) each
director,  (iii)  each  named  executive  officer,  and  (iv) all  officers  and
directors as a group.
<TABLE>
<CAPTION>

Name of Beneficial Owners            Number of Common Stock Beneficially Owned           Percentage of Ownership(1)
-------------------------            -----------------------------------------           --------------------------
<S>                                                   <C>                                         <C>
Scott Sabins Profit Sharing Plan                   2,643,365                                      9.02%
Wilfried Grabert                                   2,200,000                                      7.50%
W.V. Walton Family Trust                           2,044,225                                      6.97%
Robert Grabert                                     1,731,262                                      5.90%

W.V. (Bill) Walton(2)                              2,044,225                                      6.97%
Richard Cheyne                                        50,000                                        *
Jeffrey Fajgenbaum                                    50,000                                        *
Douglas Reid                                          50,000                                        *

Directors and Officers as a Group                  2,194,225                                       7.5%
(4 persons)
</TABLE>

(1) Based upon 29,321,338 outstanding at year end June 30, 2006. This total does
not include the exercise of warrants or options. (2) Mr. Walton is the Sole
Trustee of the W.V. Walton Family Trust and is deemed the beneficial owner of
share shares held by the W.V. Walton Family Trust.
*Less than 1%

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLAN

Stock Options
-------------

No stock options were granted to individuals during the last fiscal year.


                                       28
<PAGE>


ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

None.


                                       29
<PAGE>



ITEM 13.  EXHIBITS.

Exhibit  Description
-------- -----------------------------------------------------------------------
31.1     Certification  of Chief Executive  Officer  pursuant to Rule 13a-14 and
         Rule  15d-14(a),  promulgated  under the Securities and Exchange Act of
         1934, as amended

31.2     Certification  of Chief Financial  Officer  pursuant to Rule 13a-14 and
         Rule 15d 14(a),  promulgated  under the  Securities and Exchange Act of
         1934, as amended

32.1     Certification  pursuant to 18 U.S.C.  Section 1350, as adopted pursuant
         to  Section  906 of the  Sarbanes-Oxley  Act of 2002  (Chief  Executive
         Officer)

32.2     Certification  pursuant to 18 U.S.C.  Section 1350, as adopted pursuant
         to  Section  906 of the  Sarbanes-Oxley  Act of 2002  (Chief  Financial
         Officer)


ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Audit Fees

The aggregate fees from our auditors Malone & Bailey,  PC for their audit of our
annual financial  statements for the years ended June 30, 2006 and 2005, and for
the reviews of the financial  statements  included in our  Quarterly  Reports on
Form 10-QSB  during each fiscal  year were  approximately  $27,900 and  $21,700,
respectively.

Tax or Other Fees

None.

                                       30
<PAGE>


SIGNATURES

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


GiveMePower Corporation
(Registrant)

By: /s/ WILLIAM V. WALTON                                Dated: October 12, 2006
-------------------------
William V. Walton

Director, Chief Executive Officer, President And Acting Treasurer and Secretary
(As a duly authorized officer on behalf of the Registrant and as Principal
Executive Officer)


By: /s/ WILLIAM V. WALTON                                Dated: October 12, 2006
-------------------------
William V. Walton

Interim Chief Financial Officer
(As a duly authorized officer on behalf of the Registrant and as Principal
Financial and Accounting Officer)


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

By:/s/ WILLIAM V. WALTON
-------------------------
William  V.  Walton,  Director  and  Chief  Executive Officer
October 12, 2006



By:/s/ DOUGLAS REID                           By: /s/ JEFFREY FAJGENBAUM
----------------------                        ----------------------------
Douglas Reid, Director                        Jeffrey Fajgenbaum, Director
October 12, 2006                              October 12, 2006



By :/s/ RICHARD CHEYNE
------------------------
Richard Cheyne, Director
October 12, 2006



                                       31