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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 Form 10-QSB
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the quarterly period ended April 30, 2007
 o
    
    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.
  Utah
(State or other jurisdiction of 
incorporation or organization)
    
    95-4091368
(I.R.S. Employer Identification No.)
 th
 
 þ o
 o þ
  o þ




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PageNo.PART I. FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTS
    
    
    3BALANCE SHEETS  APRIL 30, 2007 AND JULY 31, 2006
    
    
    3STATEMENTS OF OPERATIONS  THREE AND NINE MONTHS ENDED APRIL 30, 2007 AND APRIL 30, 2006,
AND SEPTEMBER 1, 2005 (INCEPTION) TO APRIL 30, 2007
    
    
    4STATEMENT OF SHAREHOLDERS EQUITY FOR THE PERIOD ENDED APRIL 30, 2007
    
    
    5STATEMENT OF CASH FLOWS  NINE MONTHS ENDED APRIL 30, 2007 AND APRIL 30, 2006, AND SEPTEMBER
1, 2005 (INCEPTION) TO APRIL 30, 2007
    
    
    6NOTES TO FINANCIAL STATEMENTS
    
    
    7ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
    
    
    10ITEM 3. CONTROLS AND PROCEDURES
    
    
    14PART II. OTHER INFORMATIONITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
    
    
    15TEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
    
    
    15ITEM 5. OTHER INFORMATION
    
    
    15ITEM 6. EXHIBITS
    
    
    16SIGNATURES
    
    
    17EX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32.1: CERTIFICATIONEX-32.2: CERTIFICATION
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Unaudited
    
    
    AuditedApril 30,
    
    
    July 31,2007
    
    
    2006ASSETS:Current Assets:Cash
    
    $
    614
    
    
    $
    92,859Prepaid Legal Fees
    
    
    10,000
    
    
    
    Total Current Assets
    
    
    10,614
    
    
    
    92,859Fixed Assets:Property & Equipment
    
    
    103,114
    
    
    
    45,114Less Accumulated Depreciation
    
    
    (19,380
    )
    
    
    (4,512
    )Total Fixed Assets
    
    
    83,734
    
    
    
    40,602Other Assets:CIBA Patent
    
    
    1,000,000
    
    
    
    1,000,000Less Amortization
    
    
    (14,706
    )
    
    
    Total Other Assets
    
    
    985,294
    
    
    
    1,000,000TOTAL ASSETS
    
    $
    1,079,642
    
    
    $
    1,133,461LIABILITIES & STOCKHOLDERS EQUITYCurrent Liabilities:Accounts Payable
    
    $
    598,122
    
    
    $
    110,289Accrued Interest Payable
    
    
    6,000
    
    
    
    Note Payable  Related Party
    
    
    4,618
    
    
    
    Notes Payable
    
    
    100,000
    
    
    
    200,000Total Current Liabilties
    
    
    708,740
    
    
    
    310,289Stockholders Equity:Preferred Stock, $.001 par value, 100,000,000 shares authorized
Series A Convertible preferred stock 1,000,000 shares
issued and outstanding April 30, 2007 and July 31, 2006
    
    
    1,000
    
    
    
    1,000Common stock, $.001 par value, 150,000,000 shares authorized
32,793148 shares of stock issued and outstanding April, 30 2007
and 31,849,171July 31, 2006
    
    
    32,794
    
    
    
    31,850Stocks to be issued
    
    
    1,554
    
    
    
    2,311Subscriptions Receivable
    
    
    (1,650,000
    )
    
    
    (2,750,000
    )Additional Paid-In Capital
    
    
    4,848,290
    
    
    
    4,472,644Deficit accumulated during Development Stage
    
    
    (2,862,736
    )
    
    
    (934,633
    )Total Stockholders Equity
    
    
    370,902
    
    
    
    823,172TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)
    
    $
    1,079,642
    
    
    $
    1,133,461
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September 1, 2005Three-Months Ended
    
    
    Nine-Months Ended
    
    
    (Inception) toApril 30,
    
    
    April 30,
    
    
    April 30,2007
    
    
    2006
    
    
    2007
    
    
    2006
    
    
    2007Revenue:Sales
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Total Income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Operating Expenses:Research and Development
    
    
    146,331
    
    
    
    
    
    
    
    578,032
    
    
    
    
    
    
    
    666,196Professional Fees
    
    
    159,833
    
    
    
    
    
    
    
    380,037
    
    
    
    
    
    
    
    380,037Administrative Expenses
    
    
    92,700
    
    
    
    320,401
    
    
    
    941,759
    
    
    
    453,519
    
    
    
    1,788,342Total Expenses
    
    
    398,864
    
    
    
    320,401
    
    
    
    1,899,828
    
    
    
    453,519
    
    
    
    2,834,575Net Loss From Operations
    
    
    (398,864
    )
    
    
    (320,401
    )
    
    
    (1,899,828
    )
    
    
    (453,519
    )
    
    
    (2,834,575
    )Other Income/ExpenseInterest Income
    
    
    16
    
    
    
    30
    
    
    
    225
    
    
    
    30
    
    
    
    339Forgiveness of Debt
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    134,396
    
    
    
    Acquisition Cost
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (24,810
    )
    
    
    Interest Expense
    
    
    (6,000
    )
    
    
    
    
    
    
    (28,500
    )
    
    
    
    
    
    
    (28,500
    )Net Other Income/Expense
    
    
    (5,984
    )
    
    
    30
    
    
    
    (28,275
    )
    
    
    109,616
    
    
    
    (28,161
    )Net Gain/Loss
    
    $
    (404,848
    )
    
    $
    (320,371
    )
    
    $
    (1,928,103
    )
    
    $
    (343,903
    )
    
    $
    (2,862,736
    )Per Share Information:Weighted average number
of common shares outstanding
    
    
    32,559,208
    
    
    
    20,645,533
    
    
    
    32,080,648
    
    
    
    10,762,472Net Loss per common share
    
    $
    (0.02
    )
    
    $
    (0.02
    )
    
    $
    (0.06
    )
    
    $
    (0.02
    )
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PREFERRED STOCK
    
    
    
    
    
    ISSUABLE
    
    
    
    
    
    
    Additional
    
    
    
    
    
    
    TotalSERIES A
    
    
    COMMON STOCKS
    
    
    COMMON STOCKS
    
    
    Subscriptions
    
    
    Paid-In
    
    
    Accumulated
    
    
    Stockholders# of Shares
    
    
    Amount
    
    
    # of Shares
    
    
    Amount
    
    
    # of Shares
    
    
    Amount
    
    
    Receivable
    
    
    Capital
    
    
    Deficit
    
    
    EquityBalance  September 1, 2005
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Recapitalization
    
    
    1,000,000
    
    
    
    1,000
    
    
    
    362,200
    
    
    
    363
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (476,163
    )
    
    
    
    
    
    
    (474,800
    )Issuance of Stock to Directors
    
    
    
    
    
    
    
    
    
    
    10,000
    
    
    
    10
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    10Issuance of Stock for Acquisition
    
    
    
    
    
    
    
    
    
    
    30,000,000
    
    
    
    30,000
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    445,000
    
    
    
    
    
    
    
    475,000Issuance of stock for cash
    
    
    
    
    
    
    
    
    
    
    1,476,971
    
    
    
    1,477
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,756,118
    
    
    
    
    
    
    
    1,757,595Subscriptions Receivable
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,310,924
    
    
    
    2,311
    
    
    
    (2,750,000
    )
    
    
    2,747,689
    
    
    
    
    
    
    
    Net Loss for Year
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (934,633
    )
    
    
    (934,633
    )Balance  July 31, 2006
    
    
    1,000,000
    
    
    
    1,000
    
    
    
    31,849,171
    
    
    
    31,850
    
    
    
    2,310,924
    
    
    
    2,311
    
    
    
    (2,750,000
    )
    
    
    4,472,644
    
    
    
    (934,633
    )
    
    
    823,172Stock Options issued
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    352,500
    
    
    
    
    
    
    
    352,500Stock Subscription Cancelled
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,260,504
    )
    
    
    (1,261
    )
    
    
    1,500,000
    
    
    
    (1,498,739
    )
    
    
    
    
    
    
    Stock to be issued for converted notes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    756,303
    
    
    
    756
    
    
    
    
    
    
    
    899,244
    
    
    
    
    
    
    
    900,000Stock Subscription Receivable
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    504,202
    
    
    
    504
    
    
    
    (600,000
    )
    
    
    599,496
    
    
    
    
    
    
    
    Stocks to be issued for accrued interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    19,607
    
    
    
    20
    
    
    
    
    
    
    
    23,313
    
    
    
    
    
    
    
    23,333Receipt of Subscription Receivable
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    168,067
    
    
    
    168
    
    
    
    200,000
    
    
    
    (168
    )
    
    
    
    
    
    
    200,000Stock to be issued for cash
    
    
    
    
    
    
    
    
    
    
    943,977
    
    
    
    944
    
    
    
    (943,977
    )
    
    
    (944
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net Loss for Period
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,928,103
    )
    
    
    (1,928,103
    )Balance  April 30, 2007
    
    
    1,000,000
    
    
    $
    1,000
    
    
    
    32,793,148
    
    
    $
    32,794
    
    
    
    1,554,622
    
    
    $
    1,554
    
    
    $
    (1,650,000
    )
    
    $
    4,848,290
    
    
    $
    (2,862,736
    )
    
    $
    370,902
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September 1, 2005Nine-Months Ended
    
    
    (Inception) toApril 30,
    
    
    April 30,2007
    
    
    2006
    
    
    2007Cash Flows from Operating Activities:Net (Loss)
    
    $
    (1,928,103
    )
    
    $
    (343,903
    )
    
    
    (2,862,736
    )Depreciation and Amortization
    
    
    29,574
    
    
    
    4,512
    
    
    
    34,086Issuance of stock for services
    
    
    
    
    
    
    10
    
    
    
    10Adjustments to reconcile net loss to cash used
by operating activities(Increase) in prepaid expenses
    
    
    (10,000
    )
    
    
    
    
    
    
    (10,000
    )Increase in Discontinued Operations
    
    
    
    
    
    
    (148
    )
    
    
    (Decrease) Increase in accounts payable and accrued expenses
    
    
    493,833
    
    
    
    (412,660
    )
    
    
    604,122Net Cash Used by Operating Activities
    
    
    (1,414,696
    )
    
    
    (752,189
    )
    
    
    (2,234,518
    )Cash flows from Investing Activities:Payment for acquistion net of liabilities assumed
    
    
    
    
    
    
    
    
    
    
    (474,800
    )Purchase of Patents
    
    
    
    
    
    
    
    
    
    
    (1,000,000
    )Purchase of Property
    
    
    (58,000
    )
    
    
    (45,114
    )
    
    
    (103,114
    )Net Cash used for Investing Activities
    
    
    (58,000
    )
    
    
    (45,114
    )
    
    
    (1,577,914
    )Cash Flows from Financing Activities:Proceeds from stock issuance
    
    
    376,590
    
    
    
    505,200
    
    
    
    2,408,455Proceeds from notes payable  related party
    
    
    4,618
    
    
    
    
    
    
    
    4,618Payment of Note Payable
    
    
    (100,000
    )
    
    
    
    
    
    
    Subscriptions Receivable
    
    
    200,000
    
    
    
    
    
    
    
    200,000Proceeds from notes payable
    
    
    900,000
    
    
    
    
    
    
    
    1,000,000Capital Investment  Stocks to be Issued
    
    
    (757
    )
    
    
    1,757,595
    
    
    
    200,000Payments to Loans from officers
    
    
    
    
    
    
    (168,731
    )
    
    
    Net Cash Provided by Financing Activities
    
    
    1,380,451
    
    
    
    2,094,064
    
    
    
    3,813,073Net Increase in Cash & Cash Equivalents
    
    
    (92,245
    )
    
    
    1,296,761
    
    
    
    641Beginning Cash & Cash Equivalents
    
    
    92,859
    
    
    
    
    
    
    
    Ending Cash & Cash Equivalents
    
    $
    614
    
    
    $
    1,296,761
    
    
    $
    641SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATIONCash paid for Interest
    
    $
    
    
    
    $
    Cash paid for Income Taxes
    
    $
    
    
    
    $
    NON-CASH TRANSACTIONSCommon stock issued for services
    
    $
    
    
    
    $
    10
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Organization and Summary of Significant Accounting Policies:
 Organization:
   Basis of Presentation  Development Stage Company:
  Basis of Accounting:
   Cash and Cash Equivalents
  Net Loss Per Share:
  Intangible Assets:
  Property and Equipment
  7




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Other Comprehensive Income
  Capital Stock Transactions:
   Presentation of Interim Information:
    Going Concern:
   8




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Notes Payable:
  Advances  Related Parties:
  Kavoria, LLC
    
    $
    2,874George Rozakis
    
    
    1,744Total Advances  Related Parties
    
    $
    4,618
 Equity Incentive Plan:
  Subsequent Events
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(a)
    
    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 him 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)
    
    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.
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IMPLANTABLE VISION, INC.By:
    
    /s/ George RozakisName: Dr. George RozakisTitle: Chief Executive Officer
  Signature
    
    Title
    
    Date/s/ George Rozakis

Dr. George Rozakis
    
    Chief Executive Officer, President and Director
(Principal Executive Officer)
    
    June 18, 2007/s/ William Rozakis

William Rozakis
    
    Chief Financial Officer (Principal Accounting
Officer and Principal Financial Officer)
    
    June 18, 2007/s/ Igor Valyunin

Igor Valyunin
    
    Director
    
    June 18, 2007/s/ Jerry Kaeni

Jerry Kaeni
    
    Director
    
    June 17, 2007
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EXHIBIT NO.
    
    DESCRIPTION31.1
    
    Certification of our Chief Executive Officer, Dr. George
Rozakis, pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.31.2
    
    Certification of our Chief Financial Officer, William Rozakis,
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.32.1
    
    Certification of our Chief Executive Officer, Dr. George
Rozakis, pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.32.2
    
    Certification of our Chief Financial Officer, William Rozakis,
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 18