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

                                   Form 10-QSB

(Mark One)

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

     For the quarterly period ended April 30, 2008

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

     For the transition period from ________ to _________.

                         Commission File Number 0-10315

                            IMPLANTABLE VISION, INC.
           (Name of small business issuer as specified in its charter)

                Utah                                     95-4091368
   (State or other jurisdiction of          (I.R.S. Employer Identification No.)
   incorporation or organization)

                    25730 Lorain Rd., North Olmsted, OH 44070
                    (Address of principal executive offices)

                                  212-243-0721
                           (Issuer's telephone number)

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

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

As of June 23,  2008,  33,178,442  shares  the  registrant's  common  stock were
outstanding.

Transitional Small Business Disclosure Format (check one):  Yes [ ] No [X]


<PAGE>



                            IMPLANTABLE VISION, INC.

                                   FORM 10-QSB

                                      INDEX

<TABLE>
<CAPTION>
<S>            <C>                                                                                             <C>
                                                                                                                PAGE
                                                                                                                 NO.
PART I.        FINANCIAL INFORMATION

ITEM 1.        FINANCIAL STATEMENTS...............................................................................3

                BALANCE SHEETS - APRIL 30, 2008 AND JULY 31, 2007.................................................3

                STATEMENTS OF OPERATIONS - THREE & NINE MONTHS ENDED APRIL 30, 2008 AND
                APRIL 30, 2007, AND SEPTEMBER 1, 2005 (INCEPTION) TO APRIL 30, 2008...............................4

                STATEMENT OF SHAREHOLDERS EQUITY FOR THE PERIOD ENDED APRIL 30, 2008..............................5

                STATEMENT  OF CASH FLOWS - NINE  MONTHS  ENDED APRIL 30, 2008 AND APRIL
                30, 2007, AND SEPTEMBER 1, 2005 (INCEPTION) TO APRIL 30, 2008.....................................6

                NOTES TO FINANCIAL STATEMENTS.....................................................................7

ITEM 2.        MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
               OF OPERATION......................................................................................10

ITEM 3.        CONTROLS AND PROCEDURES...........................................................................14

PART II.       OTHER INFORMATION

ITEM 6.        EXHIBITS..........................................................................................15

SIGNATURES
</TABLE>







                                       2

<PAGE>
                          PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                            IMPLANTABLE VISION, INC.
                          (A Development Stage Company)
                                 Balance Sheet
<TABLE>
<CAPTION>

                                                                                             Unaudited          Audited
                                                                                             April 30,          July 31,
                                                                                               2008              2007
                                                                                           --------------    --------------
<S>                                                                                        <C>               <C>
ASSETS;
Current Assets:
    Cash                                                                                   $       2,560     $       4,410
                                                                                           --------------    --------------

        Total Current Assets                                                                       2,560             4,410
                                                                                           --------------    --------------

Fixed Assets:
     Property & Equipment                                                                        133,014           133,014
     Less Accumulated Depreciation                                                               (46,404)          (26,136)
                                                                                           --------------    --------------

          Total Fixed Assets                                                                      86,610           106,878
                                                                                           --------------    --------------

Other Assets:
    CIBA Patent                                                                                1,000,000         1,000,000
    Prepaid Expense                                                                                2,000             2,000
                                                                                           --------------    --------------

        Total Other Assets                                                                     1,002,000         1,002,000
                                                                                           --------------    --------------

TOTAL ASSETS                                                                               $   1,091,170     $   1,113,288
                                                                                           ==============    ==============


LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
    Accounts Payable                                                                       $   1,320,180     $     710,217
    Accrued Interest Payable                                                                      21,701            12,491
    Notes Payable - Related Parties                                                              104,000           104,000
    Loans Payable - Related Parties                                                               13,611             4,618
    Equipment Lease                                                                               26,105            26,105
                                                                                           --------------    --------------

        TOTAL CURRENT LIABILTIES                                                               1,485,597           857,431
                                                                                           --------------    --------------

 Stockholders Equity:
    Preferred Stock, $.001 par value, 100,000,000 shares authorized                                1,000             1,000
       Series A Convertible preferred stock 1,000,000 shares
       issued and outstanding April 30, 2008 and July 31, 2007
    Common stock, $.001 par value, 150,000,000 shares authorized                                  33,179            33,112
        33,178,442 shares issued and outstanding April 30, 2008
        and 33,111,215 shares issued and outstanding July 31, 2007
     Stock to be issued                                                                            1,554             1,554
     Subscriptions Receivable                                                                 (1,370,000)       (1,450,000)
    Additional Paid-In Capital                                                                 5,056,005         5,026,962
    Deficit accumulated during the development stage                                          (4,116,165)       (3,356,771)
                                                                                           --------------    --------------

        TOTAL STOCKHOLDERS' EQUITY                                                              (394,427)          255,857
                                                                                           --------------    --------------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                                   $   1,091,171     $   1,113,288
                                                                                           ==============    ==============
</TABLE>

                         See Accountant's Review Report

                                       3
<PAGE>


                            IMPLANTABLE VISION, INC.
                          (A Development Stage Company)
                            Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                                                  September 1, 2005
                                              Three-Months Ended           Nine-Months Ended        (Inception) to
                                                  April 30,                   April 30,                April 30,
                                              2008          2007          2008           2007           2008
                                           -----------   -----------   ------------   -----------   --------------

REVENUE:
<S>                                        <C>           <C>           <C>            <C>           <C>
    Sales                                  $        -    $        -    $         -    $        -    $          -
                                           -----------   -----------   ------------   -----------   --------------

TOTAL INCOME                                        -             -              -             -               -
                                           -----------   -----------   ------------   -----------   --------------

OPERATING EXPENSES:
     Research and Development                 112,000       146,331        374,605       578,032       1,220,158
     Administrative Expenses                  114,965       258,533        389,514     1,350,296       2,901,091
                                           -----------   -----------   ------------   -----------   --------------

TOTAL EXPENSES                                226,965       404,864        764,119     1,928,328       4,121,249
                                           -----------   -----------   ------------   -----------   --------------

NET LOSS FROM OPERATIONS                     (226,965)     (404,864)      (764,119)   (1,928,328)     (4,121,249)
                                           -----------   -----------   ------------   -----------   --------------

OTHER INCOME/EXPENSE
    Forgiveness of Debt                             -             -          4,700             -           4,700
    Interest Income                                 3            16             25           225             384
                                           -----------   -----------   ------------   -----------   --------------

NET OTHER INCOME/EXPENSE                            3            16          4,725           225           5,084
                                           -----------   -----------   ------------   -----------   --------------

NET GAIN/LOSS                              $ (226,962)   $ (404,848)   $  (759,394)  $(1,928,103)   $ (4,116,165)
                                           ===========   ===========   ============   ===========   ==============

PER SHARE INFORMATION:

     Weighted average number
     of common shares outstanding          33,178,442    31,849,171     33,178,442    31,849,171
                                           -----------   -----------   ------------   -----------

Net Loss per common share - basic          $   (0.01)    $    (0.01)   $     (0.02)   $    (0.06)
                                           ===========   ===========   ============   ===========
</TABLE>











                         See Accountant's Review Report

                                       4
<PAGE>
                            IMPLANTABLE VISION, INC.
                          (A Development Stage Company)
            Consolidated Statements of Shareholders Equity (Deficit)
                         For Period Ended April 30, 2008
<TABLE>
<CAPTION>
                                                    PREFERRED STOCK           COMMON STOCKS             ISSUABLE
                                                 ----------------------   -----------------------     COMMON STOCKS
                                                        SERIES A                                   ---------------------
                                                        --------
                                                 # of Shares   Amount     # of Shares    Amount    # of Shares   Amount
                                                 -----------  ---------   -----------   ---------  -----------  ---------
<S>                                              <C>          <C>         <C>           <C>        <C>          <C>
Balance - September 1, 2005                               -   $      -             -    $      -            -   $      -
                                                 -----------  ---------   -----------   ---------  -----------  ---------
Recapitalization                                  1,000,000      1,000       362,200         363            -          -
Stock issued to Directors                                 -          -        10,000          10            -          -
Stock issued for Acquisition                              -          -    30,000,000      30,000            -          -
Stock issued for cash                                     -          -     1,476,971       1,477            -          -
Subscriptions receivable                                  -          -             -           -    2,310,924      2,311
Net Loss for Year                                         -          -             -           -            -          -
                                                 -----------  ---------   -----------   ---------  -----------  ---------
Balance - July 31, 2006                           1,000,000      1,000    31,849,171      31,850    2,310,924      2,311
                                                 -----------  ---------   -----------   ---------  -----------  ---------

Stock Options Issued                                      -          -             -           -            -          -
Stock subscriptions cancelled                             -          -             -           -   (1,260,504)    (1,261)
Stocks to be issued for converted note                    -          -             -           -      756,303        756
Stock subscription receivable                             -          -             -           -      504,202        504
Stock to be issued for accrued interest                   -          -             -           -       19,607         20
Receipt of subscription receivable                        -          -             -           -      168,067        168
Stock to be issued for cash                               -          -       943,977         944     (943,977)      (944)
Stock to be issued for service contract                   -          -       150,000         150            -          -
Receipt of subscription receivable                        -          -       168,067         168            -          -
Net Loss for Year                                         -          -             -           -            -          -
                                                 -----------  ---------   -----------   ---------  -----------  ---------
Balance - July 31, 2007                           1,000,000   $   1,000    33,111,215   $  33,112    1,554,622      1,554
                                                 -----------  ---------   -----------   ---------  -----------  ---------

Stock subscription receivable                             -          -        67,227          67            -          -
Write off of previously recorded legacy payables          -          -             -           -            -          -
Net loss for the period                                   -          -             -           -            -          -
                                                 -----------  ---------   -----------   ---------  -----------  ---------
Balance - April 30, 2008                          1,000,000   $  1,000    33,178,422    $ 33,179    1,554,622   $  1,554
                                                 ===========  =========   ===========   =========  ===========  =========
</TABLE>
<TABLE>
<CAPTION>                                                                           DEFICIT
                                                                                  ACCUMULATED
                                                                    ADDITIONAL     DURING THE       TOTAL
                                                      SUBSCRIPTIONS   PAID-IN     DEVELOPMENT    STOCKHOLDERS'
                                                      RECEIVABLE      CAPITAL        STAGE         EQUITY
                                                      ------------  ------------  -------------  ------------
<S>                                                   <C>           <C>           <C>            <C>
Balance - September 1, 2005                           $         -   $         -   $          -   $         -
                                                      ------------  ------------  -------------  ------------
Recapitalization                                                -      (476,163)             -      (474,800)
Stock issued to Directors                                       -             -              -            10
Stock issued for Acquisition                                    -       445,000              -       475,000
Stock issued for cash                                           -     1,756,118                    1,757,595
Subscriptions receivable                               (2,750,000)    2,747,689              -             -
Net Loss for Year                                                             -       (934,633)     (934,633)
                                                      ------------  ------------  -------------  ------------
Balance - July 31, 2006                                (2,750,000)    4,472,644       (934,633)      823,172
                                                      ------------  ------------  -------------  ------------

Stock Options Issued                                            -       345,591              -       345,591
Stock subscriptions cancelled                           1,500,000    (1,498,739)             -             -
Stocks to be issued for converted note                          -       899,244              -       900,000
Stock subscription receivable                            (600,000)      599,496              -             -
Stock to be issued for accrued interest                         -        30,712              -        30,732
Receipt of subscription receivable                        200,000          (168)             -       200,000
Stock to be issued for cash                                     -             -              -             -
Stock to be issued for service contract                         -       178,350              -       178,500
Receipt of subscription receivable                        200,000          (168)             -       200,000
Net Loss for Year                                               -             -     (2,422,138)   (2,422,138)
                                                      ------------  ------------  -------------  ------------
Balance - July 31, 2007                              $ (1,450,000)  $ 5,026,962     (3,356,771)      255,857
                                                      ------------  ------------  -------------  ------------

Stock subscription receivable                              80,000           (67)             -        80,000
Write off of previously recorded legacy payables                -        29,110              -        29,110
Net loss for the period                                         -             -       (759,394)     (759,394)
                                                      ------------  ------------  -------------  ------------
Balance - April 30, 2008                              $(1,370,000)  $ 5,056,005   $ (4,116,165)  $  (394,427)
                                                      ============  ============  =============  ============
</TABLE>
                         See Accountant's Review Report

                                       5
<PAGE>

                            IMPLANTABLE VISION, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows
                                  (Unaudited)

<TABLE>
<CAPTION>


                                                                                           September 1, 2005
                                                                      Nine Months Ended     (Inception) to
                                                                         April 30,             April 30,
                                                                    2008          2007            2008
                                                                  ----------   -----------     -----------

<S>                                                              <C>          <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:

     Net (Loss)                                                  $ (759,393)  $ (1,901,299)   $ (4,116,164)
     Issuance of stock options for compensation                           -        349,909         524,101
     Stock issued for interest                                            -              -          30,732
     Depreciation and amortization                                    20,268  $     14,868          46,404
     Adjustments to reconcile net loss to cash used
        by operating activities
     Increase in prepaid expenses                                          -       (10,000)         (2,000)
     (Increase) in employee advances                                       -             -               -
     Increase in accounts payable and accrued expenses               619,173       493,833       1,341,881
                                                                  ----------   -----------     -----------

NET CASH USED BY OPERATING ACTIVITIES                               (119,952)   (1,052,689)     (2,175,046)
                                                                  ----------   -----------     -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchase of Property                                                  -       (90,000)       (133,014)
     Payment for acquisition net of liabilities assumed               29,110             -        (445,690)
     Purchase of patents                                                   -             -      (1,000,000)
                                                                  ----------   -----------     -----------

NET CASH USED FOR INVESTING ACTIVITIES                                29,110       (90,000)     (1,578,704)
                                                                  ----------   -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Capital Investment - Stocks to be Issued                           (757)            -               -
     Proceeds from notes payable                                     900,000             -       1,100,000
     Payment on notes payable                                       (100,000)            -         (96,000)
     Proceeds from Loans for Leased Equipment                                                       26,105
     Proceeds from notes payable - related parties                     4,618             -           4,618
     Proceeds from loans from officers                                 8,993                         8,993
     Proceeds from stock subscriptions                                80,000       200,000       2,712,595
     Proceeds from stock issuance                                          -       376,590               -
                                                                  ----------   -----------     -----------

NET CASH PROVIDED BY FINANCING ACTIVITIES                             88,993     1,380,451       3,756,311
                                                                  ----------   -----------     -----------
NET INCREASE IN CASH & CASH EQUIVALENTS                               (1,850)      237,762           2,560

BEGINNING CASH & CASH EQUIVALENTS                                      4,410        92,859               -
                                                                  ----------   -----------     -----------

ENDING CASH & CASH EQUIVALENTS                                    $    2,560   $   330,621     $     2,560
                                                                  ==========   ===========     ===========


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
     Cash paid for Interest                                       $        -   $         -
                                                                  ==========   ===========     ===========
     Cash paid for Income Taxes                                   $        -   $         -
                                                                  ==========   ===========     ===========

NON-CASH TRANSACTIONS
     Common stock issued for services                             $       -    $         -     $        10
                                                                  ==========   ===========     ===========

     Common stock issued for debt conversion                                                   $   900,000
                                                                                               ===========
</TABLE>

                         See Accountants' Review Report

                                       6
<PAGE>

                            IMPLANTABLE VISION, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 April 30, 2008
                                   (Unaudited)

Note 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
         ------------------------------------------------------------

ORGANIZATION:

Implantable  Vision,  Inc. (the "Company") was  incorporated on March 2, 1981 as
Arrowhead  Energy  Corporation  in the State of Utah. On December 16, 2005,  the
Company  consummated  an  agreement  with the  members of JIGJIG,  LLC  ("JIG"),
whereby it issued  30,000,000  shares of its common stock in exchange for all of
the issued and outstanding interests in JIGJIG. As a result of such transaction,
JIGJIG became a  wholly-owned  subsidiary of the Company.  The  transaction  was
accounted  for as a reverse  acquisition  resulting in the  recapitalization  of
JIGJIG, and as such,  JIGJIG'S historical  financial  statements became those of
the  Company.  The  Company  changed  its name to  Implantable  Vision,  Inc. in
December 2005 in connection with the acquisition of JIGJIG.

JIGJIG was formed in the State of Ohio on September 1, 2005 as a holding company
for the purpose of owning all of the  intellectual  property  rights  associated
with the TP.2 lens.

BASIS OF PRESENTATION - DEVELOPMENT STAGE COMPANY:

The Company  has not earned any  revenues  from  limited  principal  operations.
Accordingly,  the  "Company"  activities  have been  accounted for as those of a
"Development  Stage Enterprise" as set forth in Financial  Accounting  Standards
Board Statement No. 7 ("SFAS 7"). Among the  disclosures  required by SFAS 7 are
that the Company's financial  statements be identified as those of a development
stage  company,  and that the  statements of  operations,  stockholders'  equity
(deficit)  and cash  flows  disclose  activity  since the date of the  Company's
inception.

BASIS OF ACCOUNTING:

The accompanying financial statements have been prepared on the accrual basis of
accounting in accordance with generally accepted accounting principles.

CASH AND CASH EQUIVALENTS:

The Company  considers all highly  liquid debt  instruments,  purchased  with an
original maturity of three months or less, to be cash equivalents.

USE OF ESTIMATES:

The preparation of financial  statements,  in conformity with generally accepted
accounting  principles,  requires  management to make estimates and  assumptions
that affect the reported  amounts of assets and  liabilities,  and disclosure of
contingent  assets and  liabilities at the date of the financial  statements and
the reported amounts of revenue and expenses during the reporting period. Actual
results could differ from those estimates.

NET LOSS PER SHARE:

The Company has adopted  Statement of Financial  Accounting  Standards  No. 128,
"Earnings  Per Share"  ("SFAS128").  Basic  earnings  per common  share  ("EPS")
calculations  are  determined  by  dividing  net income  (loss) by the  weighted
average number of shares of common stock outstanding during the year. During the
period in which  the  Company  has  incurred  a loss,  dilutive  securities  are
excluded for the calculation of earnings per share as they are anti-dilutive. At
April 30, 2008 there were 400,000 options outstanding.

                                       7
<PAGE>

INTANGIBLE ASSETS:

We have intangible  assets related to patents.  The determination of the related
estimated  useful lives and whether or not these  assets are  impaired  involves
significant   judgments   that  are   performed   annually.   In  assessing  the
recoverability  of these intangible  assets,  we use an estimate of undiscounted
operating income and related cash flows over the remaining  useful life,  market
conditions and other factors to determine the  recoverability  of the asset.  If
these  estimates or their related  assumptions  change in the future,  we may be
required to record impairment charges against these assets.

PROPERTY AND EQUIPMENT:

Equipment  and property are  capitalized  at  acquisition  cost and  depreciated
utilizing the straight-line  method over its estimated useful life.  Maintenance
and repairs are charged to operations as incurred.

STOCK BASED COMPENSATION:

The Company has adopted the use of Statement of Financial  Accounting  Standards
No. 123R,  "Share-Based  Payment",  (SFAS No. 123R) This  Statement  requires an
entity to measure the cost of  employee  services  received  in exchange  for an
award of equity  instruments  based on the  grant-date  fair  value of the award
(with limited exceptions).  That cost is recognized over the period during which
an  employee is required  to provide  services  in exchange  for the  award--the
requisite  service period (usually the vesting period).  No compensation cost is
recognized  for  equity  instruments  for  which  employees  do not  render  the
requisite service. This Statement supersedes APB Opinion No. 25, "Accounting for
Stock  Issued  to  Employees",  and  its  related  implementation  guidance  and
eliminates  the  alternative  to use  Opinion  25's  intrinsic  value  method of
accounting that was provided in Statement 123 as originally issued.

OTHER COMPREHENSIVE INCOME:

The Company has no material components of other comprehensive income (loss), and
accordingly, net loss is equal to comprehensive loss in all periods.

Note 2- CAPITAL STOCK TRANSACTIONS:
        --------------------------

The authorized  capital stock of the Company  consists of 150,000,000  shares of
common stock at $.001 par value and  100,000,000  shares of  preferred  stock at
$.001 par value.  In  September  2005 the Company  authorized a 1 for 10 reverse
split  of all  common  stock.  All  shares  and  per  share  amounts  have  been
retroactively adjusted to give effect to the revere stock split.

Note 3 - PRESENTATION OF INTERIM INFORMATION:
         -----------------------------------

In the opinion of management,  the accompanying  unaudited financial  statements
include  all normal  adjustments  considered  necessary  to  present  fairly the
financial  position as of April 30, 2008 and the results of operations  and cash
flows  for the  nine-months  ended  April  30,  2008.  Interim  results  are not
necessarily indicative of results for a full year.

The  financial  statements  and notes are presented as permitted by Form 10-QSB,
and do not  contain  certain  information  included  in  the  Company's  audited
financial  statements  and  notes  for the  fiscal  year  ended  July 31,  2007.
Management believes all necessary normal adjustments have been made.

Accordingly,  these unaudited financial statements should be read in conjunction
with the audited financial statements and the other information also included in
the Annual Report on Form 10-KSB for the fiscal year ended July 31, 2007.

                                       8
<PAGE>

Note 4 - GOING CONCERN:
         -------------

The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company incurred net losses
of approximately  $759,394 for the nine-months ended April 30, 2008. The Company
has earned no revenue  from  operations,  including  from the sale of any of its
products,  and its existing capital resources are currently  insufficient for it
to continue it operations.  These conditions raise  substantial  doubt about the
Company's  ability to continue as a going concern.  The audit report prepared by
the Company's  independent  registered  public  accounting  firm relating to the
Company's financial  statements for the fiscal year ended July 31, 2007 includes
an explanatory  paragraph  expressing the substantial  doubt about the Company's
ability to continue as a going concern.

The  Company's  ability to continue  as a going  concern is  dependent  upon its
ability to develop  additional  sources of  capital  and to  ultimately  achieve
profitable operations.  Consequently,  the Company is actively working to obtain
short and  long-term  additional  capital  through  various  financial  options.
However, the Company does not have any financing commitments at this time. There
can be no assurance that financing will be available to the Company on favorable
terms or at all. If the  Company  raises  capital  through the sale of equity or
convertible  debt  securities,  the  issuance of such  securities  may result in
dilution to existing stockholders.  The accompanying financial statements do not
include any adjustments that might result from the outcome of the uncertainties.

Note 5- NOTES PAYABLE
        -------------

On February 1, 2007,  the Company issued a promissory  note bearing  interest at
12% per annum to an  accredited  investor in the aggregate  principal  amount of
$100,000.  The proceeds of the loan  evidenced by the note were used for working
capital purposes. As of April 30, 2008, the outstanding principal balance on the
note was  $100,000.  The  investor to whom the note was issued is related to The
Regency Group,  the holder of the majority of the issued and outstanding  shares
of the Series A Preferred Stock.

On July 25, 2007,  the Company issued a promissory  note bearing  interest at 7%
per annum to an accredited investor in the aggregate principal amount of $4,000.
The  proceeds of the loan  evidenced  by the note were used for working  capital
purposes.  The  investor  to whom the note was issued is related to The  Regency
Group,  the holder of the majority of the issued and  outstanding  shares of the
Series A Preferred  Stock.  The  principal  and interest on the note are due and
payable on July 24, 2008.

Note 6 - LOANS - RELATED PARTIES:
         -----------------------

During 2007, Dr. George Rozakis,  the President,  Chief Executive  Officer and a
director  of the  Company,  advanced  the  Company  $4,618 to be used to pay for
expenses of the  Company.  This is a  non-interest  bearing loan with no payment
date.

During the first half of 2008, William Rozakis,  the Chief Financial Officer and
Secretary of the Company,  advanced to the Company  $4,177 to be used to pay for
expenses of the  Company.  This is a  non-interest  bearing loan with no payment
date.

On April 16,  2007,  we entered  into an  equipment  lease for certain  research
equipment,  which lease requires monthly payments in the amount of approximately
$925 for the term of the lease. Alexander Hatsis, our Medical Director, has made
payments  in the  aggregate  amount of $7,393 to the  lender  under the lease to
satisfy  our  obligations   thereunder.   Our  obligations  to  Mr.  Hatsis  are
represented by a non-interest bearing note.

Note 7- EQUITY INCENTIVE PLAN:
        ---------------------

On March 14, 2007 the Board of Directors  approved an Equity  Incentive Plan for
the purpose of providing incentives for officers, directors, consultants and key
employees  to promote  the  success of our Company and to enhance our ability to
attract and retain the services of such people. An aggregate of 3,000,000 shares
of the  Company's  common stock are reserved  for issuance  under this plan,  of
which  options  to  acquire  850,000  shares  of common  stock  have been or are
committed  to be granted as of the date hereof to D. Verne Sharma at an exercise
price of $1.19 per share.  Options  granted  under this Plan may be either;  (1)
options  intended to qualify as "incentive  stock  options" under Section 422 of
the Internal Revenue Code of 1986 or (2) non-qualified stock options.


                                       9
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Certain statements in this Report constitute "forward-looking statements" within
the  meaning of the  Private  Securities  Litigation  Reform  Act of 1995.  Such
forward-looking  statements  involve known and unknown risks,  uncertainties and
other factors which may cause the actual results, performance or achievements of
our company to be materially  different from any future results,  performance or
achievements  expressed or implied by such forward-looking  statements.  Factors
that might cause such a difference include, among others, uncertainties relating
to  general  economic  and  business  conditions,  intense  competition  for the
acquisition of businesses, and domestic and foreign government regulations.  The
words  "believe,"  "expect,"  "anticipate,"  "intend"  and  "plan"  and  similar
expressions identify  forward-looking  statements.  Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date the statement was made.

ABOUT OUR COMPANY.

Implantable  Vision,  Inc.  is  a  development-stage  company  that  intends  to
commercialize  phakic intraocular  lenses (i.e.,  inside the eye contact lenses)
("P-IOLs") to capture a portion of the  refractive  surgical  vision  correction
market.  Unless the context  indicates  otherwise,  references in this report to
"we,"  "us,"  and  "our  company"  refer to  Implantable  Vision,  Inc.  and its
consolidated subsidiaries.

We have begun the regulatory  approval  process for our first two products,  our
myopic TP.2 lens and our phakic  refractive lens (the "PRL"),  and are targeting
CE mark approval for our myopic TP.2 lens  approximately 12 months following the
closing of an offering of our debt and/or equity securities  yielding  aggregate
gross  proceeds to our  company of not less than  $2,000,000  (such  transaction
being referred to herein as a "Financing") and U.S. Food and Drug Administration
("FDA") approval for our myopic TP.2 lens within four years after the Financing.
No revenues have been generated from operations through the third quarter of the
2008 fiscal year.

On December 16, 2005,  we entered  into a Plan and  Agreement of  Reorganization
with JIGJIG,  LLC  ("JIGJIG")  pursuant to which JIGJIG  merged with and into BT
Acquisitions,  Inc., a  wholly-owned  subsidiary  of our company  (the  "Reverse
Merger").  Dr. George  Rozakis,  the President,  Chief  Executive  Officer and a
director of our  company,  Igor  Valyunin,  the Chief  Scientific  Officer and a
director of our  company,  and Jerry Kaeni,  a director of our  company,  formed
JIGJIG in September 2005 to hold the intellectual property for our TP.2 lens. As
a result of the Reverse Merger,  we issued 30,000,000 shares of our common stock
to the interest holders of JIGJIG in exchange for their 100% interest in JIGJIG.

STRATEGY.

Our  strategy is to position  our company to rapidly  develop and  commercialize
worldwide a competitive portfolio of ophthalmic lens products.  During the third
quarter of fiscal 2008,  we  continued to focus on raising  capital in an amount
sufficient to enable us to carry out our business plan, design and test our TP.2
platform, and establish our development,  manufacturing, clinical and regulatory
infrastructure.  We anticipate that this focus will continue throughout our 2008
fiscal year.

DESIGN AND TESTING OF THE TP.2 PLATFORM.

We believe that we have  successfully  developed a posterior  chamber P-IOL that
provides  the market with a safe,  effective,  reversible  and simple  procedure
positioned to compete with LASIK surgery and other refractive intraocular lenses
in the vision correction  market.  Our clinical testing to date has demonstrated
that our TP.2  platform does not require an iridotomy (a hole that is cut with a
scalpel  or laser  into  the iris of the eye to  accommodate  fluid  flow),  has
excellent centration,  provides a high quality of vision,  minimally impacts the
pristine  structure of the eye and can be implanted in less than 10 minutes by a
skilled surgeon.

We have  initiated  our CE Mark  studies  for our  myopic  TP.2  lens;  however,
additional  work  will be  required  to  achieve  CE  Mark  approval.  Also,  we
anticipate  that the  receipt  of  approvals  for our  TP.2  lens  from  Chinese
regulatory authorities will lag the CE Mark studies by at least two quarters. We
anticipate receiving a CE Mark and subsequently  commercializing our myopic TP.2
lens in those areas  covered by the CE Mark  approximately  12 months  after the
Financing. We expect our hyperopic TP.2 clinical trials and commercialization to

                                       10
<PAGE>

lag those for our  myopic  TP.2 lens by at least  two  quarters.  We  anticipate
introducing  an  FDA-approved  product into the market  within four years of the
Financing. However, there can be no assurance that any of our product candidates
will ever be approved by the FDA or any foreign regulatory agencies.

ESTABLISHMENT   OF  OUR  DEVELOPMENT,   MANUFACTURING,   CLINICAL  &  REGULATORY
INFRASTRUCTURE.

Our  strategy  is to  establish  the  development,  manufacturing  and  clinical
infrastructure  required  to bring our TP.2 lens and future  product  candidates
from inception to a final design ready for clinical  trials.  In September 2006,
we received an export  permit  from the FDA to allow for lens  implantation  and
clinical  testing in the  Dominican  Republic.  We plan to establish  additional
investigative sites for other clinical trial locations in preparation for our CE
Mark Studies.  We believe this clinical  infrastructure not only facilitates the
clinical testing process,  but provides us with an investigator  network that is
prepared to rapidly  recruit  patients  and  efficiently  perform  our  clinical
trials.

Assuming  we  complete a  Financing  during  the 2008  fiscal  year,  we plan to
establish our regulatory  infrastructure for our product candidates in an effort
to achieve  regulatory  approvals  and  subsequent  commercialization  in select
markets within 12 months of the Financing.

GENERAL.

We have  been  unable  to raise  additional  capital  for the  business  and our
development  efforts have  effectively  ceased due to such lack of capital.  The
immediate  acquisition  of  these  funds is  necessary  for us to  continue  our
operations,  finalize  development  and  clinical  testing  of our TP.2 lens and
prepare for the  international  commercialization  of such lens. There can be no
assurance  that we will be able to  obtain  such  additional  capital  on  terms
acceptable  to us, if at all.  If we do not  raise  additional  capital  for our
business, we will be forced to discontinue our operations.

We face  intense  competition  from the  providers  of other  vision  correction
techniques,  including  providers of LASIK and companies that market alternative
intraocular lens products,  including Staar Surgical  Company,  Advanced Medical
Optics, Inc. and Alcon Laboratories,  Inc. These latter three companies, each of
which is much larger and better financed than our company, could capture a large
portion of the  vision  correction  market  with their  posterior  and  anterior
chamber  lenses,  which  lenses have been  available  in the U.S.  and  European
markets  since 2004 and 2005,  respectively.  We believe  our  proprietary  lens
technology  offers several  advantages over these  alternative  lens products in
terms  of  lens  design,   vision  quality  and  simplicity/safety  of  surgical
procedure.

ACCOUNTING FOR RESEARCH AND DEVELOPMENT PROJECTS.

During the third  quarter of fiscal 2008,  our expenses  consisted  primarily of
accrued salaries and payments related to material development. The completion of
clinical  trials of our TP.2 lens product  candidate will require  significantly
greater   resources   than  we  currently  have   available,   and  may  require
significantly  greater funds than we currently  have  estimated in our financial
projections.

Because of various uncertainties, we cannot predict the timing of completion and
commercialization   of  our  TP.2  and  PRL  lens  product   candidates.   These
uncertainties  include the success of current studies, our ability to obtain the
required  financing  to complete  the  studies  and the time  required to obtain
regulatory  approval even if our research and development  efforts are completed
and  successful.  We will not  begin to  generate  revenues  until  our  product
candidates  receive  regulatory  approval and are made  commercially  available.
Currently, we do not have any product candidates that are approved for sale, and
we have not generated any revenue from the sale of our product candidates. Thus,
we cannot predict when we will begin to produce positive revenues, if at all.

RESULTS OF OPERATIONS

THREE MONTHS ENDED APRIL 30, 2008 COMPARED TO THREE MONTHS ENDED APRIL 30, 2007

REVENUES. We have generated no operating revenues since our inception and do not
expect to generate significant operating revenues for the foreseeable future.

                                       11
<PAGE>

GENERAL & ADMINISTRATIVE.  Our net loss for the quarter ended April 30, 2008 was
$226,962 versus $404,848 in the corresponding  quarter of the prior fiscal year.
The decrease in net loss is primarily due to the reduction of professional  fees
and consultants involved in assisting management with our day-to-day  operations
and in travel  relating to our fund  raising  efforts and clinical  studies.  In
addition,  virtually all of our new clinical  trials have stopped due to lack of
capital, further reducing our overall net loss.

RESEARCH AND DEVELOPMENT  EXPENSES.  Research and development expenses decreased
from  approximately  $146,331 for the quarter  ending April 30, 2007 to $112,000
for the quarter  ending  April 30,  2008 due to our lack of capital  required to
perform new clinical trials for our TP.2 lens platform. Research and development
expenses  consist  primarily  of  accrued  salaries  and  related  expenses  for
personnel,  patent  expenses,  materials,  supplies and clinical  trials used to
develop,  manufacture and test our product candidates.  Research and development
expenses  may  fluctuate  from  period to period due to the timing and nature of
clinical trial expenditures and regulatory filings.

FINANCIAL CONDITION, LIQUIDITY AND RESOURCES

To date, we have financed our development  stage  activities  primarily  through
private  placements of equity and debt  securities,  and loans from our officers
and directors.  If we do not immediately obtain  significant  additional debt or
equity financing,  we will be required to modify our growth and operating plans,
delay and/or  suspend the  development  of our product  candidates or take other
actions that could adversely affect our business,  prospects,  operating results
and financial condition.

During the 2006 fiscal year,  we entered into  financing  transactions  with ten
accredited  investors that  participated in a private placement for the purchase
of our  common  stock at $1.19  per share  (the  "Private  Placement").  Between
December 20, 2005 and February 21, 2006, we received $1,757,595 in consideration
for the issuance of  1,476,971  shares of our common  stock.  In addition to the
Private  Placement,  we also  entered  into  subscription  agreements  with  two
accredited investors for the sale of 2,310,924 shares of our common stock for an
aggregate  purchase price of $2,750,000 ($1.19 per share) pending the listing of
our common stock on the American Stock Exchange ("Pending Subscription"). One of
the  investors  who executed a  subscription  agreement in  connection  with the
Pending  Subscription  also  purchased  420,168  shares of  common  stock for an
aggregate purchase price of $500,000 in the Private  Placement.  Pursuant to the
settlement  agreement dated March 14, 2007 described  immediately below, Pending
Subscriptions for $1,500,000  (1,260,504  shares) have been cancelled as of that
date.

On each of July 18,  2006,  August  9, 2006 and  August  25,  2006,  we issued a
promissory note to an accredited  investor in the aggregate  principal amount of
$200,000, $50,000 and $650,000,  respectively (the "Notes"). The proceeds of the
loan  evidenced by the Notes were used for working  capital  purposes,  and each
Note bears  interest at the rate of 5% per annum.  On March 14, 2007, we entered
into a settlement  agreement with this investor,  pursuant to which we converted
the  outstanding  principal and interest due on the Notes into 775,910 shares of
common stock and cancelled the Notes. We also agreed in the settlement agreement
to cancel the  investor's  Pending  Subscriptions  to purchase  up to  1,260,504
shares of our common stock for an aggregate  purchase price of $1,500,000 and to
issue to the investor  504,202 shares of our common stock in  consideration  for
the payment of $600,000 to us by the investor. As of June 23, 2008, the investor
had paid us  $480,000,  for which we had issued to the  investor an aggregate of
403,361 shares of common stock.

On February  1, 2007,  we issued a  promissory  note to an  accredited  investor
affiliated  with The  Regency  Group  LLC,  the  holder of all of the issued and
outstanding  shares of our Series A Preferred Stock, in the aggregate  principal
amount of $100,000. The proceeds of the loan evidenced by the note were used for
working  capital  purposes,  and the note bears  interest at the rate of 12% per
annum.  The note became due on March 10, 2007.  We have not made any payments on
the principal or interest due on this note.

On March 20, 2007, we amended the provisions of our Series A Preferred  Stock so
that each share of Series A Preferred Stock is now  convertible  into ten shares
of our common stock. This action effectively reduced our total capitalization by
5,000,000 shares. We also amended the provisions of our Series A Preferred Stock
to delete the  requirement  that we register  all of the shares of common  stock
issuable upon  conversion of our Series A Preferred  Stock by June 30, 2006, and
entered into a separate  registration  rights  agreement  with the holder of our
Series A Preferred  Stock whereby we granted to such holder demand  registration
rights  beginning  after  December 31, 2007 and piggy-back  registration  rights
beginning  immediately with respect to such shares.  The holders of our Series A

                                       12
<PAGE>

Preferred Stock are entitled to request only one demand  registration within any
12-month  period,  which  demand  registration  we may postpone for a reasonable
period of time not to exceed  sixty (60) days if we determine in good faith that
such demand registration would reasonably be expected to have a material adverse
effect on any  proposal  or plan by our  company  to  engage  in any  financing,
acquisition  or  disposition  of assets  (other than in the  ordinary  course of
business) or any merger,  consolidation,  tender offer or similar transaction or
would  require  disclosure  of any  information  that  our  Board  of  Directors
determines  in good faith the  disclosure of which would be  detrimental  to our
company. Upon a liquidation,  dissolution or winding up of our company,  whether
voluntary  or  involuntary,  the  holders  of our Series A  Preferred  Stock are
entitled,  before any distribution or payment is made upon any other securities,
to be paid an amount  equal to $3 per share for each share of Series A Preferred
Stock then held by such holders.  The terms of our Series A Preferred Stock also
provide that no single holder may exercise such holder's conversion privilege to
the extent that immediately  following the conversion,  such holder would be the
beneficial owner of more than 4.999% of our outstanding common stock.

On July  25,  2007,  we  issued  a  promissory  note to an  accredited  investor
affiliated  with The Regency  Group LLC,  the holder of a majority of the issued
and  outstanding  shares  of our  Series A  Preferred  Stock,  in the  aggregate
principal amount of $4,000.  The proceeds of the loan evidenced by the note were
used for working capital purposes, and the note bears interest at the rate of 7%
per annum.  The  principal  and interest on the note are due and payable on July
24, 2008.

We have  been  unable  to raise  additional  capital  for the  business  and our
development  efforts  have  effectively  ceased due to such lack of capital.  We
require the immediate  acquisition of additional  funds to continue our research
and development  efforts,  to conduct clinical trials of our product candidates,
and to  meet  our  working  capital  requirements.  If we are  unable  to  raise
additional capital immediately,  we will not be able to continue the development
and  testing  of our  product  candidates  and will be  required  to revise  our
business plan. Any  significant  modification of our business plan due to a lack
of funding will affect our prospects materially and adversely.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet  arrangements that have or are reasonably likely to
have a current or future effect on our financial condition, or on changes in our
financial  condition,  revenue or expenses,  results of  operations,  liquidity,
capital expenditures or capital resources that are material to investors, and we
do not have any non-consolidated special purpose entities.

RELATED PARTY TRANSACTIONS

Dr. George Rozakis, the President, Chief Executive Officer and a director of our
company,  maintained  offices for his private medical  practice located at 25730
Lorain Road,  North Olmsted,  Ohio from December 2005 until the third quarter of
our 2007 fiscal year. We paid certain  administrative  expenses in the aggregate
amount of approximately $180,000 associated with this office.

On February  1, 2007,  we issued a  promissory  note to an  accredited  investor
affiliated  with The Regency  Group LLC,  the holder of a majority of the issued
and  outstanding  shares  of our  Series A  Preferred  Stock,  in the  aggregate
principal  amount of $100,000.  The  proceeds of the loan  evidenced by the note
were used for working capital purposes,  and the note bears interest at the rate
of 12% per annum.  The note became due on March 10,  2007.  We have not made any
payments on the principal or interest due on this note.

On July  25,  2007,  we  issued  a  promissory  note to an  accredited  investor
affiliated  with The Regency  Group LLC,  the holder of a majority of the issued
and  outstanding  shares  of our  Series A  Preferred  Stock,  in the  aggregate
principal amount of $4,000.  The proceeds of the loan evidenced by the note were
used for working capital purposes, and the note bears interest at the rate of 7%
per annum.  The  principal  and interest on the note are due and payable on July
24, 2008.

During 2007, Dr. George Rozakis,  the President,  Chief Executive  Officer and a
director of the  Company,  advanced to the Company  $4,618 to be used to pay for
expenses of the  Company.  This is a  non-interest  bearing loan with no payment
date.

                                       13
<PAGE>

During the first half of 2008, William Rozakis,  the Chief Financial Officer and
Secretary of the Company,  advanced to the Company  $4,177 to be used to pay for
expenses of the  Company.  This is a  non-interest  bearing loan with no payment
date.

On April 16,  2007,  we entered  into an  equipment  lease for certain  research
equipment,  which lease requires monthly payments in the amount of approximately
$925 for the term of the lease. Alexander Hatsis, our Medical Director, has made
payments  in the  aggregate  amount of $7,393 to the  lender  under the lease to
satisfy  our  obligations   thereunder.   Our  obligations  to  Mr.  Hatsis  are
represented by a non-interest bearing note.

ITEM 3. CONTROLS AND PROCEDURES

     (a)  EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. As of the end of the
          period covered by this report, we carried out an evaluation, under the
          supervision and with the  participation  of our management,  including
          our Chief  Executive  Officer  and  Chief  Financial  Officer,  of the
          effectiveness  of the design and operation of the disclosure  controls
          and procedures  pursuant to Rule 13a-15 under the Securities  Exchange
          Act  of  1934,  as  amended  (the  "Exchange  Act").  Based  upon  the
          evaluation,  our Chief Executive  Officer and Chief Financial  Officer
          concluded that, as of the end of the period,  the disclosure  controls
          and  procedures  were  effective in timely  alerting  them to material
          information  relating  to our  company  required to be included in the
          reports that are filed and submitted pursuant to the Exchange Act.

     (b)  CHANGES  IN  INTERNAL  CONTROLS.  During  the  period  covered by this
          report,  there were no changes in our internal controls over financial
          reporting that have materially  affected,  or are reasonably likely to
          materially affect, the internal controls over financial reporting.










                                       14
<PAGE>



                           PART II. OTHER INFORMATION


ITEM 6. EXHIBITS.

         The  exhibits  required  by this item are listed on the  Exhibit  Index
attached hereto.































                                       15
<PAGE>





                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended,  the Registrant has duly caused this report to
be signed on its behalf by the  undersigned  thereunto duly  authorized,  in New
York, New York, on June 23, 2008.

                          IMPLANTABLE VISION, INC.


                          By:/s/George Rozakis
                             ______________________________
                             Name:  Dr. George Rozakis
                             Title: Chief Executive Officer


                          By:/s/William Rozakis
                             ______________________________
                             Name:  Williaim Rozakis
                             Title: Chief Financial Officer





<PAGE>



                                  EXHIBIT INDEX

 EXHIBIT NO.                       DESCRIPTION

   31.1         Certification  of our  Chief  Executive  Officer  pursuant  to
                Section 302 of the Sarbanes-Oxley Act of 2002.

   31.2         Certification  of our  Chief  Financial  Officer  pursuant  to
                Section 302 of the Sarbanes-Oxley Act of 2002.

   32.1         Certification  of our  Chief  Executive  Officer  pursuant  to
                Section 906 of the Sarbanes-Oxley Act of 2002.

   32.2         Certification  of our  Chief  Financial  Officer  pursuant  to
                Section 906 of the Sarbanes-Oxley Act of 2002.