SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)

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

                  For the Fiscal Year Ended September 30, 2006

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

          For the transition period from ____________ to _____________

                          Commission File No. 000-49991

                        GENERAL ENVIRONMENTAL CORPORATION
       -------------------------------------------------------------------
                 (Name of Small Business Issuer in its charter)

            DELAWARE                                   84-1080047
 --------------------------------            --------------------------------
 --------------------------------           (I.R.S. Employer Identification No.)
 (State or other jurisdiction of
 incorporation or organization)

                  33 Pine Street, Exeter, New Hampshire 03833
       -------------------------------------------------------------------
               (Address of principal executive offices)(Zip code)

Issuer's telephone number, including area code:             (603) 772-7336

Securities to be registered pursuant to Section 12(b) of the Act:

   Title of each class         Name of each exchange on which each is registered
   --------------------    -----------------------------------------------------
           None                                       None

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

                         Common Stock, $0.001 par value
                  --------------------------------------------
                                (Title of Class)

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

 Yes       [ ]           No       [ X ]

     Check if disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained in this form, 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
this Form 10-KSB.

     The Issuer had no revenues for the fiscal year ended September 30, 2005.

     The number of shares of the registrant's common stock, $.001 par value per
share, outstanding as of January 15, 2007 was 28,531,202.

The aggregate market value of the common stock held by non-affiliates is $0.

                       DOCUMENTS INCORPORATED BY REFERENCE
None

        Transition Small Business Disclosure Format:  Yes  [ ]    No  [X]

<PAGE>


                                TABLE OF CONTENTS

                                                                         Page

PART I

         ITEM 1.      DESCRIPTION OF BUSINESS.........................      3
         ITEM 2.      DESCRIPTION OF PROPERTY.........................      4
         ITEM 3.      LEGAL PROCEEDINGS...............................      4
         ITEM 4.      SUBMISSION OF MATTERS TO A VOTE OF
                      SECURITY HOLDERS................................      4

PART II

         ITEM 5.      MARKET FOR COMMON EQUITY RELATED STOCKHOLDER
                      MATTERS AND SMALL BUSINESS ISSUER PURCHASES
                      OF EQUITY SECURITIES............................      4
         ITEM 6.      MANAGEMENT'S DISCUSSION AND ANALYSIS PLAN OF
                      OPERATION.......................................      4
         ITEM 7.      FINANCIAL STATEMENTS............................      6
         ITEM 8.      CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
                      ON ACCOUNTING AND FINANCIAL DISCLOSURE..........     16
         ITEM 8A.     CONTROLS AND PROCEDURES.........................     16
         ITEM 8B.     OTHER INFORMATION...............................     16

PART III

         ITEM 9.      DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND
                      CONTROL PERSONS; COMPLIANCE WITH
                      SECTION 16(a) OF THE EXCHANGE ACT...............     16
         ITEM 10.     EXECUTIVE COMPENSATION..........................     17
         ITEM 11.     SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
                      OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER
                      MATTERS.........................................     17
         ITEM 12.     CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS..     18
         ITEM 13.     EXHIBITS........................................     18
         ITEM 14.     PRINCIPAL ACCOUNTANT FEES AND SERVICES..........     18

SIGNATURES............................................................     19


<PAGE>


                           FORWARD-LOOKING STATEMENTS

This annual report on Form 10-KSB contains forward-looking statements within the
meaning of the federal securities laws. These forwarding-looking statements
include without limitation statements regarding our expectations and beliefs
about the market and industry, our goals, plans, and expectations regarding our
operations and properties and results, our intentions and strategies regarding
future operations, acquisitions and sales of properties, our intentions and
strategies regarding the formation of strategic relationships, our beliefs
regarding the future success of our operations, our expectations and beliefs
regarding competition, competitors, the basis of competition and our ability to
compete, our beliefs and expectations regarding our ability to hire and retain
personnel, our beliefs regarding period to period results of operations, our
expectations regarding revenues, our expectations regarding future growth and
financial performance, our beliefs and expectations regarding the adequacy of
our facilities, and our beliefs and expectations regarding our financial
position, ability to finance operations and growth and the amount of financing
necessary to support operations. These statements are subject to risks and
uncertainties that could cause actual results and events to differ materially.
We undertake no obligation to update forward-looking statements to reflect
events or circumstances occurring after the date of this annual report on Form
10-KSB.

As used in this annual report on Form 10-KSB, unless the context otherwise
requires, the terms "we," "us," "the Company," and "GEC" refer to General
Environmental Corporation, a Delaware corporation.

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

General

General  Environmental  Corporation  (the  "Company") is a Delaware  corporation
incorporated in January 1988 as Marling  Corporation.  The Company was formed to
enter  into a  business  that was never  consummated  or  acquire  an  operating
business had no operations as Marling  Corporation.  In January 1993 the Company
changed  its  name  to  General  Environmental  Corporation  and  then  acquired
Hydrologics,  Inc. of  Englewood,  Colorado as a wholly owned  subsidiary.  This
company owned a patented water clean up technology but subsequently  went out of
business in 1996. On January 1, 1998 the company acquired Neponset  Construction
Company,  Inc.  of Boston,  Masachusetts  which was in the  business of interior
demolition  and  cleanup.  The company  offices  are located at 33 Pine  Street,
Exeter, New Hampshire.


On January 1, 1998 the Company  acquired  Environmental  Container and Products,
Inc.,  a  New  Hampshire  corporation  in  a  stock  transaction.  Environmental
Container and Products, Inc. ("ENCO") operated as a wholly owned subsidiary with
offices and warehouse in Plaistow,  New Hampshire.  Environmental  Container and
Products,  Inc. manufactured and marketed specialized boxes and other containers
for the shipment of  environmental  waste. On July 31, 2000 ENCO was repurchased
by the former owners.

Also, on January 1, 1998 the Company acquired Specialty Waste Services in a
stock transaction. Specialty Waste Services operates as a wholly owned
subsidiary of the Company and is in the environmental waste disposal brokerage
business.

On March 1, 1999 the Company  acquired Port Motor Express,  Inc. a New Hampshire
Corporation in a stock transaction. This company also operated as a wholly owned
subsidiary of the Company with offices in Plaistow,  New Hampshire.  The company
was formed to transport  the products of  Environmental  Container and Products,
Inc.  to its  customers  in New  England.  On July 31,  2000  this  company  was
repurchased by William Eaton.

On September 30, 2001 the Company sold its shares of Specialty Waste Services to
an officer of Specialty Waste Services for $10,000 in cash. The redemption of
1,000,000 common shares and the assumption of 33,014 of outstanding
indebtedness.

                                       3
<PAGE>


As a result of the foregoing, the Company no longer conducts operational
business activities.

Investors  should  be aware of the  scarcity  of and  competition  for  business
opportunities, as well as the lack of capital of the Company. The Company is not
currently engaged in any business  operations in the sense that it is generating
any  sales or  earnings.  The  Company  is  attempting  to  acquire  assets  and
properties  or stock in a variety of  businesses.  However,  it presently has no
business, asset or property which it contemplates acquiring.

Employees

As of January 15, 2007, we had no full-time employees. The employees are not
covered by a collective bargaining agreement, and we do not anticipate that any
of our future employees will be covered by such agreement.

ITEM 2.  DESCRIPTION OF PROPERTY

The Company's executive offices are located in Exeter, New Hampshire. The
offices in Exeter consist of 800 square feet of space. The office space is
provided free of charge by the Company's CEO.

ITEM 3.  LEGAL PROCEEDINGS

As of January 15, 2007, we are not a party to any pending litigation and were
not aware of any threatened litigation.

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

During the fourth quarter of the year-ended  September 30, 2006, no matters were
submitted to a vote of security holders.


                                     PART II

ITEM 5.  MARKET FOR COMMON EQUITY RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS
         ISSUERS PURCHASES OF EQUITY SECURITIES

The Company's Common Stock is not available for trading in the over-the-counter
market. The following table sets forth the high and low bid price per share for
the Company's Common Stock for each full quarterly period within the two most
recent fiscal years.
                               2006                             2005
                        ----------------------         -------------------------
                        High          Low               High           Low
First Quarter           No Quote      No Quote        No Quote       No Quote
Second Quarter          No Quote      No Quote        No Quote       No Quote
Third Quarter           No Quote      No Quote        No Quote       No Quote
Fourth Quarter          No Quote      No Quote        No Quote       No Quote

As of January 15, 2007, there was no quote for the stock

As of January 15, 2007, there were approximately 400 holders of record of the
Common Stock of the Company.

We have not paid dividends in the past and we intend to retain earnings, if any,
and will not pay cash dividends in the foreseeable future. Any future
determination to pay cash dividends will be at the discretion of the board of
directors and will be dependent upon our financial condition, results of
operations, capital requirements, general business conditions and such other
factors as the board of directors may deem relevant.

During the fourth quarter of the year-ended  September 30, 2006, the Company did
not repurchase any of its equity securities.

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

The Company

As discussed above (see "ITEM 1. Description of Business"), the Company has been
in existence since January 1988. It has limited operational history and
currently is not engaged in substantial business operations. All risks inherent
in a new and inexperienced enterprise are inherent in the Company's business.
The Company has not made a formal study of the economic potential of any
business. The Company has limited assets, liabilities in excess of assets and no
business opportunities are presently contemplated for acquisition. In addition,
the Company has no liquidity and no presently available capital resources, such
as credit lines, guarantees, etc.

                                       4
<PAGE>


Plan of Operation

The Company's plan of operation for the foreseeable future is to search for a
suitable company with which to merge or to acquire.

The Company had no operating  revenues for either the  year-ended  September 30,
2006 or 2005.

     For the year-ended September 30, 2006, the Company incurred consulting fees
to two  individuals  of  $36,000,  professional  fees of $21,565 and general and
administrative expenses of $10,062 for a total of $67,627 of operating expenses.
This  compares with  operating  expenses of $55,157 for the prior year which was
made up of $50,000 of consulting  fees,  $4,890 of  professional  fees,  $202 of
depreciation and $335 of general and administrative expenses.

     For the  year-ended  September  30,  2006,  the Company  incurred  interest
expense of  $12,586.  This  compares  with  interest  expense of $14,432 for the
year-ended September 30, 2005.

     For the  year-ended  September  30,  2006,  the Company had income from the
foregiveness of  indebtedness  of $90,563.  This compares with $95,025 of income
from the foregiveness of indebtedness for the year ended September 30, 2005.

     As a result of the  foregoing,  the  Company  had income of $10,350 for the
year ended  September 30, 2006,  down from income of $25,076 for the  year-ended
September 30, 2005.

As of September  30, 2006,  the Company had $12,559 in cash and a deficiency  in
working capital of $193,119.  This compares with cash of $3,376 and a deficiency
of working capital of $203,469 as of September 30, 2005

Based upon the current level of cash and the deficiency in working capital and
current level of expenditures, it will be necessary to seek additional sources
of funding over the next twelve months. Historically the company's financing has
come from loans from its officers and principal shareholders. However, unless
such funding continues or the company is able to sell its shares, the Company
has insufficient resources to continue its business operations for the next
twelve months. No assurances can be given that the Company will be able to
obtain any future financing or sell any of its shares.

                                       5
<PAGE>


ITEM 7.  FINANCIAL STATEMENTS

GENERAL ENVIRONMENTAL CORPORATION

Table of Contents
                                                              Page
Independent Auditor's Report                                    7

Financial Statements:
  Balance Sheets                                                8
  Statements of Operations                                      9
  Statements of Changes in Stockholders' Equity (Deficit)      10
  Statements of Cash Flows                                     11
  Notes to the Financial Statements                         12-15

                                       6
<PAGE>

                           Larry O'Donnell, CPA, P.C.

Telephone (303) 745-4545                                2228 South Fraser Street
                                                                          Unit 1
                                                         Aurora, Colorado  80014



             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



Board of Directors
General Environmental Corporation

I  have  audited  the  accompanying  balance  sheets  of  General  Environmental
Corporation as of September 30, 2006,  and 2005,  and the related  statements of
operations, changes in stockholders' equity and cash flows for each of the years
then ended.  These financial  statements are the responsibility of the Company's
management.  My  responsibility  is to express  an  opinion  on these  financial
statements based on my audits.

I  conducted  my audits in  accordance  with  standards  of the  Public  Company
Accounting Oversight Board (United States).  Those standards require that I 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.  I believe that my audits provide a reasonable
basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all
material respects,  the financial position of General Environmental  Corporation
as of September 30, 2006,  and 2005, and the results of its operations and their
cash  flows for each of the years  then  ended,  in  conformity  with  generally
accepted accounting principles in the United States of America.



/S/ Larry O'Donnell, CPA, P.C.

Larry O'Donnell, CPA, P.C.

February 7, 2007

                                       7
<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                                 BALANCE SHEETS

<TABLE>


                                                                       September 30,
                                                                  2006             2005
                                                                --------          -------
<S>                                                              <C>               <C>

                           ASSETS

         CURRENT ASSETS:
            Cash and cash equivalents                          $  12,559         $  3,376


         OTHER ASSETS                                              3,750            3,750
                                                                 --------         --------

                  TOTAL ASSETS                                 $  16,309         $  7,126
                                                                 ========         ========

              LIABILITIES AND SHAREHOLDERS' DEFICIT

         CURRENT LIABILITIES:
             Accounts Payable                                  $  80,358         $ 28,550

             Interest Payable                                     12,320           46,363
             Notes Payable - Officers                             63,000           63,000
             Notes Payable                                        50,000           68,932
                                                                --------         --------
                           Total Liabilities                     205,678          206,845
                                                                --------         --------
         COMMITMENTS AND CONTINGENCIES


         SHAREHOLDERS' DEFICIT
             Preferred stock, $10 par value, 2,000,000
                shares authorized; 0 shares issued
                and outstanding respectively                          -                -
             Common stock, $.001 par value, 30,000,000 shares
                authorized; 28,531,202 shares
                issued and outstanding                           28,531           28,531
            Additional paid in capital                        9,044,024        9,044,024
            Deficit                                          (9,261,924)      (9,272,274)
                                                             -----------      ----------
                           Total Shareholders' Deficit         (189,369)        (199,719)
                                                             -----------      -----------

                  TOTAL LIABILITIES AND SHAREHOLDERS'
                  DEFICIT                                     $  16,309        $   7,126
                                                             ===========      ===========
</TABLE>

        The accompanying notes are an integral part of these statements.
                                       8
<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                            STATEMENTS OF OPERATIONS



                                                   Years Ended September 30,
                                                  2006               2005

OPERATING EXPENSES:
   Consulting fees                             $  36,000         $   50,000
   Professional fees                              21,565              4,980
   Depreciation                                        -                202

   General and administrative                     10,062                335
                                                ---------        -----------
                  Total operating expenses        67,627             55,517

                  Operating (loss)               (67,627)           (55,517)
                                                ---------        -----------
OTHER:
   Interest expense                              (12,586)           (14,432)
   Other income                                   90,563             95,025
                                                ---------        -----------
                           Total other income     77,977             80,593
                                                ---------        -----------
NET INCOME
   BEFORE INCOME TAXES                            10,350             25,076

   Provision for income taxes                          -                  -
                                                ---------        -----------
NET INCOME                                     $  10,350         $   25,076
                                                =========        ===========

Basic and diluted income per common share      $       *         $        *

Basic and diluted weight-average number of
   common shares outstanding                  28,531,202         28,531,202
                                              ===========        ===========
* Less than $.01 per share

                                       9



The accompanying notes are an integral part of these statements.
<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                 STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT
<TABLE>


                                 Common Shares          Preferred Shares       Additional                        Total
                               $0.001 Par Value          $10 Par Value         Paid-in                       Shareholders'
                           Shares          Amount     Shares       Amount      Capital         (Deficit)       (Deficit)
                          --------        ---------  --------     --------     ------------    ----------    --------------
<S>                       <C>             <C>        <C>         <C>           <C>              <C>

BALANCES, September
30, 2004                28,531,202        $28,531         -       $     -      $9,044,024     $(9,297,348)    $(224,793)

   Net income                    -              -         -             -               -          25,076        25,076
                       ------------      ---------    -------      --------   ------------    -------------   ----------
BALANCES, September
30, 2005                28,531,202         28,531         -             -       9,044,024      (9,272,274)     (199,719)

   Net income                    -              -         -             -               -          10,350        10,350
                        ------------      ---------    -------      --------   ------------    -------------   ----------
BALANCES, September
30, 2006                28,531,202        $28,531         -       $     -      $9,044,024     $(9,261,924)    $(189,369)

</TABLE>


        The accompanying notes are an integral part of these statements.

                                       10
<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                            STATEMENTS OF CASH FLOWS

<TABLE>
                                                               Years Ended September 30,

                                                              2006             2005
                                                             ------           ------
<S>                                                        <C>               <C>

CASH FLOW FROM OPERATING ACTIVITIES:
   Net income                                               $10,350          $25,076
   Adjustments to reconcile net income (loss) to net cash
        provided by (used in) operating activities:
   Forgiveness/Elimination of notes receivable (debt)       (43,932)         (52,500)
   Depreciation                                                   -              202
   (Decrease) increase in accounts payable                   51,808           48,833
   (Decrease) increase in other liabilities                 (34,043)         (28,093)
                                                           ----------       ----------
         Net cash provided by (used in)
            Operating activities                            (15,817)          (6,482)

CASH FLOW FROM INVESTING ACTIVITIES:                              -                -
                                                           ----------       ----------
CASH FLOW FROM FINANCING ACTIVITIES:
   Proceeds from note payable                                25,000                -
                                                           ----------       ----------
         Net cash provided by Financing activities                -                -
                                                           ----------       ----------
NET INCEREASE (DECREASE) IN CASH                              9,183           (6,482)

CASH, BEGINNING OF PERIOD                                     3,376            9,858
                                                           ----------       ----------
CASH, END OF PERIOD                                         $12,559         $  3,376
                                                           ==========       ==========
SUPPLEMENTAL DISCLOSURES OF NONCASH
   INVESTING AND FINANCING ACTIVITIES:
Promissory notes issued for payment of payables           $       -          $60,000
                                                           ==========       ==========

</TABLE>


        The accompanying notes are an integral part of these statements.

                                       11
<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS



NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

General  Environmental  Corporation was incorporated under the laws of the State
of  Delaware  under the name  Marling  Corporation  on January  19,  1988 and in
January 1993 the Company changed its name to General Environmental  Corporation.
Since 1988 until  inception,  the Company has had no  operations  except for the
years 1994 through  2001 where it was in the business of providing  products and
services for the treatment of contaminated  water.  Therefore,  during the years
September 30, 2006 and 2005, the Company had no operations.

Statement of Cash Flows

For  purposes  of the  statements  of cash  flows,  cash  includes  deposits  in
commercial bank accounts.  The Company considers all short-term investments with
an original maturity of three months or less to be cash.

Net Income Per Share

Income per share  requires  presentation  of both basic and  diluted  income per
common share.  Common share equivalents are not included in the weighted average
calculation since their effect would be anti-dilutive.

Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting  principles  in the United States of America  requires  management to
make  estimates and  assumptions  that affect the reported  amount of assets and
liabilities and disclosures of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting  period.  Actual results could differ from those estimates,
and such differences may be material to the financial statements.

Equipment

Equipment is stated at cost,  less  accumulated  depreciation.  Depreciation  is
computed  over the useful  lives of the assets  ranging from five to seven years
using the straight-line method.

Fair Value of Financial Instruments

The Company's financial  instruments,  including cash, other assets and payables
approximate fair value due to the short-term nature of those instruments.

                                       12

<PAGE>


                        GENERAL ENVIRONMENTAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                   (Continued)



NOTE 2 - SHAREHOLDERS' EQUITY

Common Stock

The Company is authorized to issue up to 30,000,000  shares of common stock at a
$0.001 par value.  During the years ended September 30, 2006 and 2005 there were
no shares of common stock issued and, therefore, as of September 30, 2006 and
2005 there were 28,531,202 shares outstanding.

Preferred Stock

The Company is authorized to issue up to 2,000,000  shares of preferred stock at
a $10.00 par value.  During the years  ended  September  30, 2006 and 2005 there
were no shares of preferred  stock issued and,  therefore,  as of September  30,
2006 and 2005 there were no shares outstanding.


NOTE 3 - NOTES PAYABLE

The Company's notes payable consist of the following:

Note Payable - Davidian:  As of September  30, 2005,  the Company  considers the
holder of this note barred by the Statute of  limitations  from  recovering  the
amount owed on this note including the related accrued interest. The Company was
advised on August 6, 1997 by the note holder, Harry Davidian, that they breached
the Agreement.  Since that time no action had been taken by either party.  Based
upon the State of Colorado  statutes all actions to recover the amount owed on a
debt shall be taken within six years after the cause of action occurs (August 6,
1997). Thus, as of September 30, 2005, the Company has written off the principal
in the amount of $52,500 and related accrued interest of $42,525 and, therefore,
has recorded other income for the year ended September 30, 2005 of $95,025.

Note Payable - Vinton:  As of  September  30, 2006,  the Company  considers  the
holder of this note barred by the Statute of  limitations  from  recovering  the
amount owed on this note  including  the related  interest.  The note matured on
April 1, 2000 and the right to bring a claim for payment on the note  expired on
April 2, 2006.  Thus, as of September 30, 2006,  the Company has written off the
principal in the amount of $$43,932 and related accrued interest of $46,631 and,
therefore,  has recorded  other income for the year ended  September 30, 2006 of
90,563. The balance owed as of September 30, 2005 is $43,932.

Note  Payable - Voelker:  On April 5, 2004,  GEC  borrowed  $25,000 and issued a
convertible promissory note at the rate of 10% per annum. The balance owed as of
September  30, 2006 and 2005 is $25,000 with  accrued  interest in the amount of
$5,877 and $3,377  respectively.  Further,  during the year ended  September 30,
2006, the Company received a payment in the amount of $25,000 that is considered
due to Mr. Voelker. This amount has no terms or an issued promissory note and is
deemed to be at an  interest  rate of 7% and,  therefore,  the amount owed as of
September 30, 2006 is $25,000 with accrued interest of $254.


                                       13
<PAGE>


                        GENERAL ENVIRONMENTAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                   (Continued)



NOTE 3 - NOTES PAYABLE (continued)

Note Payable - Sears:  On January 7, 2002, GEC borrowed  $10,000 from an officer
and issued an unsecured  promissory note at the rate of 12% per annum. This note
is currently  due on demand.  The balance owed as of September 30, 2006 and 2005
is $3,000 with interest accrued in the amount of $1,990 and $1,630 respectively.

Line of Credit - Community Bank & Trust (CB&T):  As of October 1, 2001, GEC owed
$33,014 to CB&T.  As part of the sale of a subsidiary  on October 1, 2001,  this
note was  assumed  by the  Purchaser  of the  subsidiary.  During the year ended
September 30, 2003,  the  Purchaser  defaulted on the note and,  therefore,  the
guarantors of the note,  officers of GEC, were required to maintain the terms of
the note. As of September  30, 2006 and 2005,  this note is not reflected on the
financial statements of the Company.  However, during these years the Company is
still considered  liable for the note and thus has a contingent  liability as of
September 30, 2006 and 2005 in the amount of $15,402 and $24,476 respectively.

Convertible  Notes - Officers On September 30, 2005,  GEC issued an unsecured 7%
convertible  promissory note in the amount of $30,000 to each of its officers as
payment for amounts  owed these  officers.  This  principal  plus all unpaid and
accrued  interest is due on  September  30, 2007.  In addition,  interest is due
semi-annually from the date of the note and every 183 days thereafter.  Further,
this note may be  converted  prior to maturity  upon notice by the officer  into
common  stock of the  Company  at the rate of 200  shares  for each  outstanding
dollar of principal converted.  The balance owed to each officer as of September
30, 2006 and 2005 is $30,000 with  interest  accrued in the amount of $2,100 and
$0 respectively.


NOTE 4 - RELATED PARTY TRANSACTIONS

During the year ended September 30, 2005, two officers earned consulting fees in
the amount of $25,000 each or a total of $50,000 and these fees were recorded as
follows under accounts payable.


         Accounts payable before adjustments                    $ 88,550
         Notes issued as of 9/30/05 to officers as payment       (60,000)
         Accounts payable after adjustments                     $ 28,550

Further,  during the year ended  September  30, 2006 these two  officers  earned
consulting  fees in the amount of $18.000  each or a total of $36,000  and these
fees were recorded as accounts payable.

                                       14

<PAGE>

                        GENERAL ENVIRONMENTAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                   (Continued)



NOTE 5 - INCOME TAXES

As of  September  30,  2006,  the  Company  had an  unused  net  operating  loss
carryforward of  approximately  $5,000,000  which expires between 2019 and 2025.
The deferred tax assets that result from such  operating loss  carryforwards  of
approximately  $1,700,000 at September 30, 2006 and 2005  respectively have been
fully reserved for in the accompanying  financial  statements.  During the years
ended September 30, 2006 and 2005, the valuation allowances  established against
the net operating loss carryforwards were negligible.


NOTE 6 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK AND CONTINGENCIES

The accompanying  financial  statements have been prepared  assuming the Company
will continue as a going concern. The Company has suffered recurring losses from
operations that raise  substantial doubt about the Company's ability to continue
as a going  concern.  Management's  plans in this  regard  are to raise  capital
through the  issuance  of common  shares as well as seek a merger  partner.  The
accompanying financial statements do not include any adjustments relating to the
recovery  and  classification  of  recorded  asset  amounts  or the  amount  and
classification  of  liabilities  that  might be  necessary  should  the  Company
discontinue operations.

NOTE 7 - RECENT ACCOUNTING PRONOUCEMENTS

In November 2004, the FASB issued SFAS No. 151,  "Inventory Costs - an amendment
of ARB No. 43,  Chapter 4." This  statement  amends the  guidance in ARB No. 43,
Chapter 4, "Inventory Pricing,"to clarify the accounting for abnormal amounts of
idle factory expense, freight, handling costs and wasted material. The effective
date of this  statement is for  inventory  costs  incurred  during  fiscal years
beginning  after June 15, 2005. The Company  adopted this  statement  during the
year ended September 30, 2006 and it had not effect on the Company.

In December  2004,  the FASB issued  SFAS No. 152,  "Accounting  for Real Estate
Time-Sharing  Transactions - an amendment of FASB Statements No. 66 and 67. This
statement  references the financial  accounting and reporting  guidance for real
estate  time-sharing  transactions  that is  provided  in AICPA  SOP  04-2.  The
effective  date of this statement is for fiscal years  beginning  after June 15,
2005.  The Company  adopted this statement  during the year ended  September 30,
2006 and it had no effect on the Company.

In December 2004, the FASB issued SFAS No. 153, "Exchanges of Nonmonetary Assets
- an amendment of APB Opinion No. 29." This statement  amends APB Opinion No. 29
to eliminate  the  exception  for  nonmonetary  exchanges of similar  productive
assets  that  do not  have  commercial  substance.  The  effective  date of this
statement is for fiscal year beginning  after June 15, 2005. The Company adopted
this statement  during the year ended September 30, 2006 and it had no effect on
the Company.

                                       15

<PAGE>


                        GENERAL ENVIRONMENTAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                   (Continued)



NOTE 8 - SUSEQUENT EVENTS

On January 9, 2007, the shareholders of the Company approved the reincorporation
of the Company in the State of Nevada. Further, on January 25, 2007, the Company
merged into its recently formed wholly owned subsidiary, N T Technologies,  Inc.
("NT"), where NT is the survivor company. In addition, a reverse stock split was
approved whereby one share of NT will be issued in exchange for twenty shares of
the Company's common stock.
                                       15

<PAGE>

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

None

ITEM 8A. CONTROLS AND PROCEDURES

We strive to maintain disclosure controls and procedures that are designed to
ensure that information required to be disclosed in our Exchange Act reports is
recorded, processed, summarized and reported within the time periods specified
in the SEC's rules and forms, and that such information is accumulated and
communicated to our management, including our chief executive officer and chief
financial officer, as appropriate, to allow for timely decisions regarding
required disclosure. In designing and evaluating the disclosure controls and
procedures, management recognizes that any controls and procedures, no matter
how well designated and operated, can provide only reasonable assurance of
achieving the desired control objectives and management necessarily is required
to apply its judgment in evaluating the cost-benefit relationship of possible
controls. Our independent accountants, Larry O'Donnell CPA, PC conducted audits
of our financial statements for 2006 and 2005. In connection with the issuance
of its report of the independent registered public accounting firm, Larry
O'Donnell CPA, PC reported to our Board of Directors no material weakness under
standards established by the Public Company Accounting Oversight Board regarding
some elements of our system of internal controls.

ITEM 8B. OTHER INFORMATION

        None

                                    PART III

ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

EXECUTIVE OFFICERS

The following table sets forth the names, ages and offices of the executive
officers of the Company as of October 31, 2005. Each officer serves at the
discretion of the board of directors, but generally for a one-year term. The
periods during which such persons have served in such capacities are indicated
in the description of business experience of such persons below.

         Name       Age  Position

Herb T. Sears       57   President - Director - Chief Executive Officer
W. Edwards Nichols  63   Secretary/Treasurer-Director - Chief Financial Officer

                                       16
<PAGE>

The following is a biographical summary of the business experience of the
executive officers and directors of the Company. Each officer of the Company
devotes fulltime to their respective positions.

Since the Company does not have an audit committee, the entire board is
considered the audit committee.

The Company has adopted and filed a code of ethics that applies to the Company's
principal executive officer, principal financial officer, principal accounting
officer, and persons performing similar functions.

ITEM 10. EXECUTIVE COMPENSATION

Summary Compensation Table

The following table sets forth information concerning cash and non-cash
compensation paid or accrued for services in all capacities to the Company
during the year ended September 30, 2006 of each person who served as the
Company's Chief Executive Officer during fiscal 2006 and the four other most
highly paid executive officers whose total annual salary and bonus exceeded
$100,000 during the fiscal year ended September 30, 2006 (the "Named Officers").

<TABLE>
                                                                  Long-Term Compensation
                                 Annual Compensation                 Awards           Payouts
    Name and                                                Restricted   Securities
    Principal                             Other Annual   Stock   Underlying   LTIP      All Other
    Position     Year     Salary   Bonus  Compensation   Awards  Options      Payouts    Compensation
--------------- -------- ------- ------- ------------- -------- ------------- ---------- ---------------
--------------- -------- ------- ------- ------------- -------- ------------- ---------- ---------------
<S>             <C>       <C>     <C>      <C>           <C>        <C>           <C>        <C>
Herb Sears
                   2004       0       0             0        0             0          0               0
President          2005  25,000       0             0        0             0          0               0
                   2006       0       0             0        0             0          0               0

Ed Nichols
Secretary          2004       0       0             0        0             0          0               0
-Treasurer         2005  25,000       0             0        0             0          0               0
                   2006       0       0             0        0             0          0               0

</TABLE>
Employment Contracts

The Company has no employment agreement with any person.

Compensation of Directors

We reimburse all direct costs of attendance of Board meetings by our directors.

No additional compensation of any nature is paid to employee directors.

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

The following table is furnished as of January 15, 2007 to indicate beneficial
ownership of shares of the Company's Common Stock by (1) each shareholder of the
Company who is known by the Company to be a beneficial owner of more than 5% of
the Company's Common Stock, (2) each director, nominee for director and Named
Officer of the Company, individually, and (3) all officers and directors of the
Company as a group. The information in the following table was provided by such
persons.

<TABLE>

                                                          Amount and Nature of
          Name and Address of Beneficial Owner (1)             Ownership             Percent
   --------------------------------------------------    -----------------------     --------
<S>                                                       <C>                       <C>
    Herbert T. Sears                                                 4,808,096           17%
   Chairman of the Board
   President
   33 Pine Street, Exeter, New Hamphire

   W. Edward Nichols
   Director - Secretary
   6700 West Dorarado Dr., #41, Denver, CO 80123                    4,840,129           17%
                                                          ---------------------    ----------
   All officers and directors as a group (2 persons)                9,648,225           34%
                                                          =====================    ==========
</TABLE>
                                       17
<PAGE>

Compliance With Section 16(a) of the Exchange Act

Under the securities laws of the United States, the Company's directors, its
executive officers, and any persons holding more than ten percent of the
Company's Common Stock are required to report their initial ownership of the
Company's Common Stock and any subsequent changes in that ownership to the
Securities and Exchange Commission. Specific due dates for these reports have
been established and the Company is required to disclose in this Proxy Statement
any failure to file by these dates during 2006. Based solely on a review of such
reports and written statements of its directors, executive officers and
shareholders, the Company does not believes that all of the filing requirements
were satisfied on a timely basis in 2006.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Certain Relationships and Transactions

On September 3, 2004, two officers of the Company agreed to waive any consulting
fees as well as auto and  health  insurance  allowances  during  the year  ended
September  30,  2004.  In addition as of September  30,  2004,  the two officers
agreed to forgive $19,050 of accounts payable owed to each of them or a total of
$38,100 and this  forgiveness  of debt was recorded as other income.  During the
year ended September 30, 2005, these two officers earned  consulting fees in the
amount of $25,000  each or a total of $50,000.  These fees were  recorded  as
accounts payable.

                                                                 September 30,
                                                               2005        2004
                                                              ------      ------

         Accounts payable before adjustments                $ 88,550   $ 76,200
         Write off as of 9/30/04 of prior fees to officers         -    (38,100)
         Notes issued as of 9/30/05 to officers as payment   (60,000)         -
         Accounts payable after adjustments                 $ 28,550   $ 38,100

During the year-ended  September 30, 2006 these two officers  earned  consulting
fee in the amount of $18,000 each, or $36,000 in total. These fees were recorded
as accounts payable.


ITEM 13.          EXHIBITS

    (a)  Exhibits

31.1 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C.  SECTION
     1350 AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

31.2 CERTIFICATION OF PRINCIPAL ACCOUNTING OFFICER PURSUNAT TO 18 U.S.C. SECTION
     1350 AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 20022

32.1 CERTIFICATION  OF CHIEF  EXECUTIVE  OFFICER  PURSUANT TO 18 U.S.C.  SECTION
     1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

32.2 CERTIFICATION  OF CHIEF  FINANCIAL  OFFICER  PURSUANT TO 18 U.S.C.  SECTION
     1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

ITEM 14. PRINCIPAL ACCOUNTANTS FEES AND SERVICES

Fees Paid to Independent Public Accountants

The following table presents fees for professional audit services rendered by
Larry O'Donnell, CPA, P.C. for the audit of the Company's annual financial
statements for the years ended September 31, 2004 and 2003 and fees billed for
other services rendered by Larry O'Donnell, CPA, P.C. during those periods.

                                             Fiscal 2006        Fiscal 2005
                                             ------------       -----------
          Audit fees (1)                         $ 1,000           $ 1,000
          Audit related fees (2)                       -                 -
          Tax fees                                     -                 -
          All other fees                               -                 -
                                             ------------       -----------
          Total                                  $ 1,000           $ 1,000
                                             ============       ===========

(1)      Audit Fees consist of fees billed for professional services rendered
         for the audit of the Company's consolidated annual financial statements
         and review of the interim consolidated financial statements included in
         quarterly reports and services that are normally provided by Larry
         O'Donnell CPA, PC. in connection with statutory and regulatory filings
         or engagements.
(2)      Audit-Related Fees consist of fees billed for assurance and other
         services not explicitly related to the performance of the audit or
         review of the Company's consolidated financial statements and are not
         reported under "Audit Fees." This category includes fees related to the
         Company's registration statements and accounting research.
                                       18
<PAGE>


                                   SIGNATURES

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


                                            GENERAL ENVIRONMENTAL CORPORATION
Dated:  February 15, 2007

                                            By:/s/ Herbert T. Sears
                                               --------------------------
                                               Herbert T. Sears
                                               Chief Executive Officer

Dated:   February 15, 2007
                                            By:/s/ W. Edward Nichols
                                               --------------------------
                                               W. Edward Nichols
                                               Chief Accounting Officer


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

    Signatures                   Title                    Date

/s/ Herbert T. Sears        Chairman of the Board        February 15, 2007
---------------------
Herbert T. Sears            President and Director


/s/ W. Edward Nichols       Secretary - Treasurer and    February 15, 2007
---------------------
W. Edward Nichols           Director
                                       19

<PAGE>


                                CERTIFICATIONS
                                                                 EXHIBIT 31.1


I, Herbert T. Sears, certify that:

1.  I  have  reviewed  this   annual report  on  Form  10-KSB  of  General
Environmental Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control over
financial reporting.

Date: February 15, 2007

/s/ Herbert T. Sears
-----------------------
Herbert T. Sears
Chief Executive Officer
                                       20
<PAGE>


                                                                 EXHIBIT 31.2


I, Edward Nichols, certify that:

1.  I  have   reviewed  this  annual   report  on  Form  10-KSB  of  General
Envioronmental Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15-15(f) for the
registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control over
financial reporting.

Date: February 15, 2007

/s/   Edward Nichols
-----------------------
Edward Nichols
Chief Financial Officer
                                       21

<PAGE>


                                                                 EXHIBIT 32.1

Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350

For purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002, the undersigned, Herbert Sears, the Chief
Executive Officer of General Environmental Corporation. (the "Company"), hereby
certifies that, to his knowledge:

     (i) the Annual  Report on Form  10-KSB of the  Company  for the  year-ended
September 30, 2006, as filed with the Securities and Exchange  Commission on the
date hereof (the "Report") fully complies with the requirements of section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and

(ii)the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.

Date: February 15, 2007

/s/ Herbert Sears
------------------------
Herbert Sears
Chief Executive Officer
                                       22


<PAGE>


                                                                 EXHIBIT 32.2

Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350

For purposes of 18 U.S.C.  Section 1350,  as adopted  pursuant to Section 906 of
the  Sarbanes-Oxley  Act of 2002, the  undersigned,  Edward  Nichols,  the chief
financial officer of General Environmental  Corporation (the "Company"),  hereby
certifies that, to his knowledge:

(i) the Annual Report on Form 10-KSB of the Company for the year-ended September
30,  2006,  as filed with the  Securities  and Exchange  Commission  on the date
hereof (the "Report")  fully complies with the  requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

(ii)the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.

Date: February 15, 2007

/s/ Edward Nichols
-----------------------
Edward Nichols
Chief Financial Officer

                                       23