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

                                   FORM 10-QSB

                   QUARTERLY REPORT UNDER SECTION 13 or 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2005
                        Commission file number 333-63432

                                 Organetix, Inc.
        (Exact name of small business issuer as specified in its charter)


           Delaware                                  73-1556428
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                   Identification No.)

       Suite 200, 603 - 7th Avenue S.W., Calgary, Alberta, Canada T2P 2T5
              (Address of principal executive offices) (Zip Code)
               Issuer's telephone number: (403) 261-8888 ext# 224
                    (Address of principal executive offices)

              (Former name, former address and former fiscal year,
                         if changed since last report.)

Check whether the issuer (1) has 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 |_|

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date.

The number of shares of the issuer's outstanding common stock, which is the only
class of its common equity, on May 10, 2005 was 84,962,447.


<PAGE>

                                 ORGANETIX, INC.
                           A Development Stage Company


                                                                         PAGE(S)

PART I    FINANCIAL INFORMATION

Item 1.   Financial Statements:

             Balance Sheets - March 31, 2005 (unaudited) and
               December 31, 2004                                              3.

             Statements of Operations - Three Months Ended March 31,
               2005 and 2004 and the Period from Inception (May 28,
               2003) to March 31, 2005 (unaudited)                            4.

             Statements of Cash Flows - Three Months ended March 31,
               2005 and 2004 and the Period from Inception (May 28,
               2003) to March 31, 2005 (unaudited)                            5.

             Notes to Interim Financial Statements (unaudited)                6.

Item 2.   Management's Discussion and Analysis of Financial Condition
             and Results of Operations                                        9.

Item 3.   Controls and Procedures                                            12.


PART II   OTHER INFORMATION                                                  13.

          Signatures                                                         13.

          Exhibits

                                       2
<PAGE>

                         PART 1 - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

                                 ORGANETIX, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                          March 31, 2005           December 31, 2004
                                                                            (Unaudited)                (Audited)
                                                                        ------------------        -------------------
<S>                                                                        <C>                       <C>
                                     ASSETS

CURRENT ASSETS:
Cash                                                                     $       11,031              $       57,495
Research and development supplies                                                66,887                      72,108
Prepaid expenses                                                                 19,749                      22,447
                                                                        ----------------          --------------------
TOTAL CURRENT ASSETS                                                             97,667                     152,050

FIXED ASSETS:
Transportation equipment - net of accumulated depreciation of $7,500             22,500                      25,000
and $5,000 respectively

OTHER ASSETS:
License agreement - net of accumulated amortization                           2,077,812                   2,091,500
                                                                        ----------------          -------------------
                                                                         $    2,197,979              $    2,268,550
                                                                        ================          ===================

                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts payable and accrued expenses                                    $       80,451              $       47,756
Due to affiliate                                                                206,966                     161,966
                                                                        ----------------          -------------------
TOTAL CURRENT LIABILITIES                                                       287,417                     209,722
                                                                        ----------------          -------------------

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:
Common stock, $.0001 par value; 150,000,000 shares authorized;
84,962,447 shares issued and outstanding in 2005 and 2004                         8,496                       8,496
Additional paid-in capital                                                    3,861,840                   3,685,340
Deficit accumulated during the development stage                             (1,959,774)                 (1,635,008)
                                                                        ----------------          -------------------
                                                                              1,910,562                   2,058,828
                                                                        ----------------          -------------------

                                                                          $   2,197,979              $    2,268,550
                                                                        ================          ===================
</TABLE>


                             See accompanying notes

                                        3
<PAGE>

                                 ORGANETIX, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                        For the Cumulative Period
                                         From Inception (May 28,     Three months ending on      Three Months Ended
                                         2003) to March 31, 2005         March 31, 2005            March 31, 2004
                                        -------------------------    ----------------------      ------------------
<S>                                          <C>                           <C>                     <C>

REVENUES                                           $           --          $                -          $         --
                                        -------------------------    ----------------------      ------------------

COSTS AND EXPENSES:
Operating expenses- research facility                     156,236                    22,626                  17,000
Research and development expenses                         781,735                   113,817                  36,575
Consulting fees                                           236,528                    45,000                  35,000
Professional fees                                         209,016                    14,528                  17,765
Travel and accommodation                                  104,459                    13,201                  13,279
Telephone                                                  24,945                     2,614                   2,751
Insurance                                                  46,559                    12,137                      --
Rent                                                       22,299                     3,481                   3,175
Shipping expense                                            4,877                       560                     143
Office and other expense                                   90,923                    20,072                   8,088
Marketing and public relations                            162,509                    60,542                  20,400
Depreciation and amortization expense                     119,688                    16,188                  13,687
                                        -------------------------   -----------------------      ------------------
                                                        1,959,774                   324,766                 167,863
                                        -------------------------   -----------------------      ------------------


NET LOSS                                           $   (1,959,774)         $       (324,766)           $   (167,863)
                                        =========================   =======================      ==================
LOSS PER SHARE:

Basic and diluted                                  $         (.03)         $             --            $         --
                                        =========================    ======================      ==================
Weighted average number of common
shares outstanding                                     70,025,277                84,962,447              77,279,561
                                        =========================    ======================      ==================
</TABLE>

                             See accompanying notes

                                       4
<PAGE>

                                 ORGANETIX, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              For the Cumulative
                                                             Period From Inception
                                                               (May 28, 2003) to      Three Months Ended      Three Months Ended
                                                                 March 31, 2005         March 31, 2005          March 31, 2004
                                                             ---------------------    ------------------      ------------------
<S>                                                                <C>                      <C>                   <C>
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                                           $   (1,959,774)          $  (324,766)          $    (167,863)
Adjustments to reconcile net loss to net cash utilized
by operating activities:
Depreciation and amortization                                              119,688                16,188                  13,687
Compensatory shares                                                        148,210                52,500                       0
Changes in assets and liabilities:
Research and development supplies                                         (66,887)                 5,221                (62,000)
Prepaid expenses                                                          (19,749)                 2,698                   5,000
Accounts payable and accrued expenses                                       80,451                32,695                 (7,107)
Due to affiliates                                                          206,966                45,000                  12,310
Due to shareholders                                                              0                     0                (63,592)
                                                             ---------------------    ------------------      ------------------
              Net cash utilized by operating activities                (1,491,095)             (170,464)               (269,565)
                                                             ---------------------    ------------------      ------------------

CASH FLOWS FROM INVESTING ACTIVITIES
Payment regarding license                                                (150,000)                     0                       0
Capital expenditures                                                      (30,000)                     0                       0
                                                             ---------------------    ------------------      ------------------
              Net cash utilized by investing activities                  (180,000)                     0                       0
                                                             ---------------------    ------------------      ------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock to founders                                        65,760                     0                       0
Proceeds from private placement of common stock                          1,316,366               124,000                 224,497
Cash received in merger                                                    300,000                     0                       0
                                                             ---------------------    ------------------      ------------------
              Net cash provided by financing activities                  1,682,126               124,000                 224,497
                                                             ---------------------    ------------------      ------------------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                        11,031              (46,464)                (45,068)
Cash, beginning of period                                                        0                57,495                 186,235
                                                             ---------------------    ------------------      ------------------
CASH, END OF PERIOD                                                $        11,031          $     11,031          $      141,167
                                                             =====================    ==================      ==================
</TABLE>

                             See accompanying notes

                                       5
<PAGE>


                                 ORGANETIX, INC.
                          (A Development Stage Company)
                 NOTES TO UNAUDITED INTERIM FINANCIAL STATEMENTS
                                 MARCH 31, 2005


                                       13
NOTE 1 -  DESCRIPTION OF COMPANY/OPERATIONS:

          Organetix, Inc. ("the Company" or "Organetix"), a Delaware
          Corporation, was incorporated on May 28, 2003. The Company is a
          biotechnology company that has the exclusive worldwide license (see
          Note 4) for the formula of a proprietary medical discovery relating to
          the liver referred to as A4+L. The Company intends to patent,
          research, develop, produce and sell this proprietary liver product
          initially as a nutraceutical and will investigate the possibility of
          manufacturing a synthetic drug in an alliance with a major
          pharmaceutical partner. To date, the Company has been using this liver
          product to treat patients with Hepatitis C. Much like insulin being
          used for diabetes, this proprietary liver product does not cure
          Hepatitis C but clinical research suggests it is regenerating liver
          tissue thus allowing the liver to begin functioning again despite
          years of damage from the virus. This product may be useful for
          treating all liver disorders, and may also be useful as an anti-ager
          and anti-toxin and may someday help eliminate most liver transplants.
          Organetix intends to also specialize in researching, developing and
          patenting bioactive compounds and their unique formulas and processes
          from plants having a distinctive history of medicinal use.

          On November 7, 2003 (the "Effective Date"), pursuant to a Share
          Exchange Agreement ("Agreement") between Diamond International Group,
          Inc. ("Diamond"), a Delaware corporation and Organetix, Inc.
          ("Organetix"), a Delaware corporation and all of the shareholders of
          Organetix, Diamond acquired all of the shares of Organetix as
          consideration for the issuance of 64,000,000 restricted shares of
          Diamond to the Organetix shareholders. As a result of this Agreement,
          Diamond International Group, Inc. (the legal acquirer) received 100%
          of the issued and outstanding common stock of Organetix, Inc. in
          exchange for 64,000,000 shares of common stock of Diamond. Pursuant to
          the Agreement, Organetix became a wholly owned subsidiary of Diamond
          which entity filed a Certificate of Amendment with the State of
          Delaware changing its name to Organetix, Inc. This reverse merger
          transaction was treated retroactively as a recapitalization with
          Organetix, Inc. being treated as the accounting acquirer.

          The Company has been devoting its time towards establishing its
          business and no revenues have been generated to date. As such, the
          Company is considered as being in the development stage, since its
          inception, in accordance with Statement of Financial Accounting
          Standards No. 7, and its year-end is December 31.

          In the opinion of management, the accompanying unaudited interim
          consolidated financial statements of Organetix, Inc. ("the Company"),
          contain all adjustments (consisting of normal recurring accruals and
          adjustments) considered necessary to present fairly the Company's
          financial position as of March 31, 2005 and the results of its
          operations and its cash flows for the three months ended March 31,
          2005 and 2004 and the period from inception (May 28, 2003) to March
          31, 2005. Operating results for the three months ended March 31, 2005
          are not necessarily indicative of the results that may be expected for
          the year ended December 31, 2005.

          The accounting policies followed by the Company are set forth in Note
          2 to the Company's financial statements included in its annual report
          on Form 10-KSB for the year ended December 31, 2004, which is
          incorporated herein by reference. Specific reference is made to this
          report for a description of the Company's securities and the notes to
          financial statements included therein. The accompanying unaudited
          interim condensed financial statements have been prepared in
          accordance with accounting principles generally accepted in the United
          States of America for interim financial information and with the
          instructions to Form 10-QSB. Accordingly, they do not include all of
          the information and footnotes required by accounting principles
          generally accepted in the United States of America

                                       6
<PAGE>

NOTE 2 -  RESEARCH AND DEVELOPMENT SUPPLIES:

          As of March 31, 2005, the Company had $66,887 in raw materials
          purchased and other costs incurred for production of its nutraceutical
          supplement which is currently being utilized in research. The Company
          only produced the nutraceutical supplement in Peru during the period
          of January 2004 through March 2004. The product manufactured is being
          used to continue the testing on the existing Hepatitis C patients
          along with other required testing.


NOTE 3 -  DUE TO AFFILIATE/SHAREHOLDERS:

          The Company is indebted to an affiliate, Amma Corporation, for
          expenses (administrative and managerial costs) incurred in connection
          with the Company's operations from inception. This amount is
          non-interest bearing and are payable on demand.


NOTE 4 -  ASSIGNMENT OF LICENSE AND CONSULTING AGREEMENTS:

     (a) License Agreement:

          On July 15, 2003, Amma Corporation ("Amma"), a privately held entity
          domiciled in Alberta, Canada, assigned all of its right, title and
          interest in and to the A4+L compound as defined in a License
          Agreement, dated June 5, 2003, between Amma and Dr. Jose Cabanillas
          Coral, a Canadian resident and citizen of Peru, to the Company in
          exchange for 8,160,000 shares of Company common stock.

          The A4+L compound (the "technology"), is a multiple plant formulation
          used for the relief of certain medical symptoms associated with
          Hepatitis C. This license grants the Company the exclusive right to
          use and sublicense the technology, and any improvements, and to
          research, manufacture, distribute and sell products throughout the
          world excluding Peru.

          This 40-year license also requires that the Company pay a royalty
          equal to 3% of gross sales and sublicensing revenues to Dr.
          Cabanillas.

      (b) Consulting Agreement:

          Concurrently with the assignment of the license agreement described
          above, Amma also assigned its consulting agreement, dated June 1,
          2001, with Dr. Cabanillas to the Company.

          This agreement, which expires on June 1, 2006, requires that Dr.
          Cabanillas provide general and research duties as requested, in
          exchange for a monthly fee of $12,000.

                                       7
<PAGE>


NOTE 5 -  STOCKHOLDERS' EQUITY:

          In connection with the reverse merger with Diamond International,
          Inc., Silvio Martini, the majority shareholder at the time, agreed to
          pay certain expenses of the Company from the shares retained by him.
          Such shares were placed in escrow and during the three months ending
          March 31, 2005, 620,000 shares were sold and transferred to 7 persons
          generating $124,000 of proceeds, which were then contributed to the
          Company as additional paid-in capital. Mr. Martini also transferred
          certain escrowed shares to consultants as payment for services
          provided to the Company. The value of these shares, $52,500, was
          recorded as additional paid-in capital.

                                       8
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS:

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

It should be noted that this Management's Discussion and Analysis of Financial
Condition and Results of Operations may contain "forward-looking statements."
The terms "believe," "anticipate," "intend," "goal," "expect," and similar
expressions may identify forward-looking statements. These forward-looking
statements represent the Company's current expectations or beliefs concerning
future events. The matters covered by these statements are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements, including the Company's
dependence on weather-related factors, introduction and customer acceptance of
new products, the impact of competition and price erosion, as well as supply and
manufacturing restraints and other risks and uncertainties. The foregoing list
should not be construed as exhaustive, and the Company disclaims any obligation
subsequently to revise any forward-looking statements to reflect events or
circumstances after the date of such statements, or to reflect the occurrence of
anticipated or unanticipated events. In light of the significant uncertainties
inherent in the forward-looking information included herein, the inclusion of
such information should not be regarded as a representation that the strategy,
objectives or other plans of the Company will be achieved. The Company wishes to
caution readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made.

OVERVIEW

Organetix, Inc. http://www.organetixinc.com; (OTCBB: OGTX) is a biotechnology
company that has the exclusive worldwide license for the formula of a
proprietary medical discovery relating to the liver referred to as A4+L. The
A4+L liver treatment is an all natural organic botanical formula. Organetix will
patent, research, develop, produce and sell this proprietary liver product
initially as a nutraceutical and will investigate the possibility of
manufacturing a synthetic drug in an alliance with a major pharmaceutical
partner.

To date, Organetix, Inc. has been using this liver product to treat patients
with Hepatitis C. Much like insulin being used for diabetes, this proprietary
liver product does not cure Hepatitis C but clinical research suggests it is
regenerating liver tissue thus allowing the liver to begin functioning again
despite years of damage from the virus.

This product may be useful for treating all liver disorders, and may be useful
as an anti-ager and anti-toxin and may someday help eliminate most liver
transplants.

Management, together with research and medical advisors are reporting that the
formula, in the limited tests conducted to date eliminates most of the symptoms
of Hepatitis C quickly and effectively without any known side effects. The liver
product may directly compete in a billion dollar market that currently exists
around the world. Additional testing will be ongoing. Analog products will also
be evaluated.

The objective of our clinical study was to determine the effectiveness of A4+L
on the quality of life of Hepatitis C patients. It was designed by independent
doctors in the USA and Peru and was conducted in Peru on North American
patients. These patients were directly under care and supervision of doctors and
nurses for approximately four weeks.

Based on the results reported by the USA doctors, who tested and examined the
patients at the beginning and at the end of the study, it was concluded that
there was significant success in the areas of depression, health-related quality
of life burden, clinical symptoms, and within blood results relating to the
prothrombin activity and the serum cholinesterase.

As quoted by Dr. Joseph Nystrom, Chief of Staff Elect at the East Pasco Medical
Center, located in the Tampa Bay Metropolitan area: "In summary, the
nutraceutical product A4+L has enormous potential as therapy for emotional and
physical suffering of the burgeoning number of Hepatitis C sufferers. A larger
placebo controlled long-term study is warranted. Further study of A4+L may
reveal it to be useful in other disease processes as well."

                                       9
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (Continued):

The Company has since commenced the phytochemistry, pharmacology and the
technology processes relating to the A4+L liver product.

In addition to treating Hepatitis C, the Company's A4+L liver product may be
useful in treating cirrhosis, liver cancer and toxic liver patients. Researchers
are also requesting us to test our liver treatment as an adjunct product to help
patients who are being treated with chemotherapy and or interferon drugs.

Organetix, Inc. has received positive independent laboratory results from tests
conducted in Germany, Spain, and Argentina, which significantly confirms the
effectiveness of our A4+L liver product. Successful results from these
laboratory tests are significant in supporting management's decision to continue
further laboratory and patient testing.

In summary, to date Organetix Inc., has successful results supporting this
product in the following areas:

Laboratory Testing has reported:

     -   A4+L does not damage human DNA.
     -   A4+L is a powerful Anti-Toxin
     -   A4+L is a powerful Anti-Oxidant
     -   A4+L is proliferating cell growth

Blood Testing has shown there was a significant increase in prothrombin activity
and serum cholinesterase which supports increased protein synthesis by liver and
a decrease in the degradation of the liver.

3D Ultrasounds, MRI, Cat scans and Biopsies before and after taking A4+L are
reporting significant physical changes in the structure and size of livers
treated.

Depression: The severity of depression at the start of the study ranged from
borderline in 10% of the subjects, mild to moderate depression in 80%, and
severe depression in 10%. By the end of the study period significant improvement
in depression was noted and 90% of the subjects had become free of depression.
Noteworthy is the reported change in the Beck Depression Inventory score. The
scoring reported is unusual in population norms.

Health-Related Quality of Life Burden: In general, use of A4+L was accompanied
by significantly improved health-related quality of life in study subjects by
Day 14. By Day 28, the functional status and well-being of study subjects were
restored completely to normal levels. The score improvements observed in this
study by Day 28 were on average larger than two standard deviations for nearly
all health-related quality of life scales, which has rarely been observed in the
thousands of treatment studies of other chronic diseases involving the SF-36
Health Survey.

Clinical symptoms: Study subjects showed a significant improvement in most of
their symptoms. This included improvement in fatigue, right upper quadrant pain
and tenderness, dyspepsia, nausea-vomiting, indigestion, headache, muscle and
joint/bone pain.

Organetix Inc. recently announced the results from a recent one hundred cell
study which was designed to investigate the possible genotoxicity of A4+L liver
product. The test focused on the primary culture of human lymphocytes using the
Comet Assay to evaluate the damage to the genetic material.
The study concluded that our A4+L liver product doesn't induce damage to the DNA
in human lymphocytes. The results are a positive step in evidencing that the
A4+L liver product is safe for human consumption.

                                       10
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (Continued):

The following describes the Company's immediate priorities:

1.   Register patents and research synthesis of the existing nutraceuticals
     and bioceuticals from the licensed liver product;

2.   Complete a larger placebo controlled clinical study of Hepatitis C and
     Cirrhosis patients;

3.   Sub-license, market and distribute the licensed liver products with
     strategic partners; and

4.   Develop new nutraceuticals and bioceuticals from the licensed liver
     product.

Organetix has established a pipeline to many plant based medicines through
medical doctors in Peru and India. We will specialize in researching, developing
and patenting bioactive compounds and their unique formulas and processes from
plants having a unique history of medicinal use.

Nutraceuticals and Bioceuticals are the foundations for the new and exciting
drugs to be discovered in the 21st Century.

RESULTS OF OPERATIONS

We are currently in the development stage and have generated no revenues to
date. Our activities from inception to date were related to our formation,
preparation of our business model, arranging and planning financing and the
acquiring all rights, title and interest in the A4+L compound. During 2003 the
Company completed a reverse acquisition of Diamond International Group Inc.,
changed its name to Organetix, Inc., changed its OTC-BB symbol to OGTX and began
a new harvest of materials necessary to begin formulating new bulk inventories
of the A4+L liver product in 2004. We have financed our operations to date
through the sale of our securities and affiliates of our shareholders have
provided administrative services for which we have been billed.

Operating costs for the period from inception to March 31, 2005 aggregated
$1,959,774. This includes costs incurred in research and development of
$781,735, operating expenses for our research facility in Peru of $156,236 and
fees paid to various professionals for research as well as to our attorneys and
accountants in the collective amount of $445,544. As a result of the above we
realized a cumulative loss of $1,959,774 or $0.03 per share.

Operating costs for the three-month period ended March 31, 2005 aggregated
$324,766. This includes costs incurred in research and development of $113,817,
operating expenses for our research facility in Peru of $22,626 and fees paid to
various professionals for research as well as to our attorneys and accountants
in the collective amount of $59,528. As a result of the above we realized a loss
of $324,766 for the three-month period ended March 31, 2005 or $0 per share.

                                       11
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (Continued):

LIQUIDITY AND CAPITAL RESOURCES

From inception through March 31, 2005, net cash used to fund operating
activities totaled $1,491,095, net cash utilized by investing activities totaled
$180,000 and net cash provided by financing activities totaled $1,682,126. For
the three-month period ended March 31, 2005, net cash used to fund operating
activities totaled $170,464 and net cash provided by financing activities
totaled $124,000.

The Company has not generated revenues and has financed its operations to date
through the sale of securities and has received $1,316,366 from such sales from
inception to March 31, 2005. To date, the Company has also paid $150,000 towards
its license for the A4+L compound. Cash on hand was $11,031 as of March 31,
2005.


The Company is presently seeking to raise between $2 to $5 million in order to
fund research, phytochemistry, clinical studies, patents, manufacturing,
marketing and to fund the Company's exclusive option to purchase the
intellectual property for the A4+L liver product. Organetix, Inc. has signed a
Private Placement Agreement with an investment banker and anticipates being in a
position to close at least the minimum of such Placement by the end of June
2005.


CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The Company's discussion and analysis of its financial condition and results of
operations are based upon the its financial statements, which have been prepared
in accordance with accounting principles generally accepted in the United
States. The preparation of these financial statements requires the Company to
make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets
and liabilities. On an on-going basis, the Company evaluates its estimates,
including those related to bad debts, income taxes and contingencies and
litigation, when applicable. The Company bases its estimates on historical
experience and on various other assumptions that are believed to be reasonable
under the circumstances, the results of which form the basis for making
judgments about carrying values of assets and liabilities that are not readily
apparent from other sources. Actual results may differ from these estimates
under different assumptions or conditions.


ITEM 3 - CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures. As of March 31, 2005, the
Company's management carried out an evaluation, under the supervision of the
Company's Chief Executive Officer and the Chief Financial Officer of the
effectiveness of the design and operation of the Company's system of disclosure
controls and procedures pursuant to the Securities and Exchange Act , Rule
13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation, the
Chief Executive Officer and Chief Financial Officer concluded that the Company's
disclosure controls and procedures were effective, as of the date of their
evaluation, for the purposes of recording, processing, summarizing and timely
reporting material information required to be disclosed in reports filed by the
Company under the Securities Exchange Act of 1934.

Changes in internal controls. There were no changes in internal controls over
financial reporting, known to the Chief Executive Officer or Chief Financial
Officer that occurred during the period covered by this report that has
materially affected, or is likely to materially effect, the Company's internal
control over financial reporting.

                                       12
<PAGE>

                                     PART II
Item 1. Legal Proceedings

        None

Item 2. Changes in Securities

        None

Item 3. Defaults Upon Senior Securities

        None

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

        None

Item 5. Other Information

        None

Item 6. Exhibits

         31.1 Certification of Chief Executive Officer
         31.2 Certification of Principal Financial Officer
         32.1 Certification of Chief Executive Officer
         32.2 Certification of Principal Financial Officer


                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

ORGANETIX, INC.

/s/ L. B. (Brad) Clarke
-----------------------------
Name: L. B. (Brad) Clarke
Title: Chief Executive Officer
Date:  May 10, 2005


/s/ Robert C. Howell
-----------------------------
Name: Robert C. Howell
Title: Chief Financial Officer
Date: May 10, 2005


                                       13