U.S. 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 MARCH 31, 2006

                                        OR

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

                        COMMISSION FILE NUMBER: 0-30639

                                WORLD AM, INC.
        (Exact Name of Company as Specified in its Charter)

                 Nevada                                     90-0142757
(State or Other Jurisdiction of Incorporation           (I.R.S. Employer
               or Organization)                         Identification No.)

    4040 MacArthur Boulevard, Suite 240, Newport Beach, California 92660
                 (Address of Principal Executive Offices)

                                    (949) 955-5355
                              (Company's Telephone Number)

       ______________________________________________________________
    (Former Name, Former Address, and Former Fiscal Year, if Changed Since
                               Last Report)

     Indicate by check mark whether the Company (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Company was required to file such reports),
and (2) been subject to such filing requirements for the past 90 days.
Yes     X       No            .

     Indicate by check mark whether the Company is a shell company (as
defined in Rule 12b-2 of the Exchange Act): Yes            No     X
..
     As of May 1, 2006, the Company had 171,041,035 (1) shares of
common stock issued and outstanding.

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

(1)  Adjusted for a one for one hundred reverse split effective on
January 21, 2005, and a three for two stock dividend effective on
August 15, 2005.

                                 TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION                                              PAGE

         ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)

                  CONDENSED CONSOLIDATED BALANCE
                  SHEET AS OF MARCH 31, 2006                                   3

                  CONDENSED CONSOLIDATED STATEMENTS
                  OF OPERATIONS FOR THE THREE MONTHS
                  ENDED MARCH 31, 2006 AND FOR THE PERIOD
                  FROM INCEPTION (MARCH 4, 2005) THROUGH
                  MARCH 31, 2006                                               5

                  CONDENSED CONSOLIDATED STATEMENTS
                  OF CASH FLOWS FOR THE THREE MONTHS
                  ENDED MARCH 31, 2006 AND FOR THE PERIOD FROM
                  FROM INCEPTION (MARCH 4, 2005) THROUGH
                  MARCH 31, 2006                                               6

                  CONDENSED CONSOLIDATED STATEMENT
                  OF CASH FLOWS FOR PERIOD FROM INCEPTION
                  (MARCH 4, 2005) TO MARCH 31, 2006                           11

                  NOTES TO CONDENSED CONSOLIDATED
                  FINANCIAL STATEMENTS                                        12

         ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS               22

         ITEM 3.  CONTROLS AND PROCEDURES                                     39

PART II - OTHER INFORMATION

         ITEM 1.  LEGAL PROCEEDINGS                                           40

         ITEM 2.  UNREGISTERED SALES OF EQUITY
                  SECURITIES AND USE OF PROCEEDS                              41

         ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                             41

         ITEM 4.  SUBMISSION OF MATTERS TO A VOTE
                  OF SECURITY HOLDERS                                         41

         ITEM 5.  OTHER INFORMATION                                           41

         ITEM 6.  EXHIBITS                                                    42

SIGNATURES                                                                    42


PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCAL STATEMENTS.

                                    WORLD AM, INC.
                            (A Development Stage Company)
                         CONDENSED CONSOLIDATED BALANCE SHEET
                                    MARCH 31, 2006
                                     (Unaudited)

                                        ASSETS

Current assets
Cash                                                               $    21,069
Accounts receivable, net of allowances of $0                            20,378
Inventory                                                               12,681

Total current assets                                                    54,128

Fixed assets, net                                                        5,225

Other assets                                                             6,179

Total assets                                                       $    65,532

                  LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
Accounts payable and accrued liabilities                           $   302,435
Due to stockholders                                                    397,186
Payroll taxes payable                                                  346,275
Notes payable                                                          223,180
Line of Credit                                                            2,150

Total current liabilities                                            1,271,226

Total liabilities                                                    1,271,226

Commitments and contingencies                                               --

Stockholders' deficit
Class A preferred stock; $0.0001 par
value; 40,000,000 shares
authorized 1,369 shares issued and no
shares outstanding                                                          --

Class B preferred stock; $0.0001 par
value; 40,000,000 shares
authorized 55 shares issued and outstanding                                 --

Common stock; $0.0001 par value;
1,500,000,000 shares authorized,
199,547,958 issued and 169,441,035
shares issued and outstanding (1)                                       16,945

Additional paid-in capital                                             991,529

Receivable related to issuance of common stock                        (220,000)
Accumulated deficit                                                 (1,994,168)

Total stockholders' deficit                                         (1,205,694)

Total liabilities and stockholders' deficit                        $    65,532

(1)  Adjusted for a one for one hundred reverse split effective on
January 21, 2005, and a three for two stock dividend effective on
August 15, 2005.  The difference between the issued shares and
the issued and outstanding shares is the number of shares held by
the Company's transfer agent in escrow for future issuances under
the Company's Stock Incentive Plan.

The accompanying notes are an integral part of these
condensed consolidated financial statements.


                                WORLD AM, INC.
                        (A Development Stage Company)
               CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (Unaudited)



<TABLE>
<CAPTION>
                                                                                       From Inception
                                                           Three Months                (March 4, 2005)
                                                       Ended March 31, 2006                Through
                                                                                         March 31, 2006
<S>                                                    <C>                             <C>
Revenues
                                                       $    68,660                     $   281,432

Cost of revenues                                            31,443                         147,228

Gross profit                                                37,217                         134,204

General and administrative                                 433,856                       1,221,347

Loss from operations                                      (396,639)                     (1,087,143)

Other income (expense)
Other income/(Loss)                                            402                         (13,689)
Interest income                                                 --                               2
Settlement gain                                                                            116,000
Interest expense                                            (1,468)                        (13,381)

Total other income (expense)                                (1,066)                         88,932

Loss before provision for income taxes                    (397,705)                       (998,211)

Provision for income taxes                                      --                              --

Net loss                                               $  (397,705)                    $  (998,211)

Basic and diluted loss per common share                $     (0.00)                    $     (0.02)

Basic and diluted weighted average common
shares outstanding (1)                                 142,426,403                       63,971,313
</TABLE>


(2)   Adjusted for a one for one hundred reverse split effective on
January 21, 2005, and a three for two stock dividend effective on
August 15, 2005.


The accompanying notes are an integral part of these
condensed consolidated financial statements.


                                     WORLD AM, INC.
                             (A DEVELOPMENT STAGE COMPANY)
            CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
              FOR THE PERIOD OF INCEPTION THROUGH MARCH 31, 2006
                                      (Unaudited)


<TABLE>
<CAPTION>                                Class A Preferred    Class B Preferred
                       Common Stock           Stock               Stock
                                                                                    Add'l                                 Total
                                                                                    Paid-in     Other    Accumulated  Stockholder's
                     Shares    Amount    Shares      Amount    Shares    Amount     Capital   Receivables   Deficit      Deficit
<S>                  <C>       <C>       <C>         <C>       <C>       <C>        <C>        <C>          <C>       <C>
Senz-It, Inc.
inception,
March 4, 2005             --  $      --         --   $     --        --  $      --  $     --    $      --   $   --     $       --

Issuance of Shares to
Senz-It, Inc.
founders                  --         --          --        --        55         --    10,000           --       --         10,000

Assumption by Senz-It,
Inc. of World Am,
Inc. capital structure,
outstanding warrants,
and options on August
31, 2005.        66,570,285 (1)   6,656       1,369        --         --        --   221,978      (220,000)   (995,956)  (987,322)

Common stock issued
in September 2005 for
services, weighted
average $0.004 per share
                15,410,573        1,541          --        --         --        --    52,916            --          --     54,457
Common stock issued in
October 2005 for
services, weighted
average $0.003 per share
                12,748,670        1,275          --        --         --        --    39,521            --          --     40,796

Common stock issued in
October 2005 for
services, weighted
average $0.018 per share
                1,795,574           180          --        --         --        --    31,961           --           --     32,141

Common stock issued in
November 2005 to
employees, weighted
average $0.024 per share
              10,375,000          1,038         --         --         --        --   249,229           --           --    250,267

Common stock issued in
December 2005 to
employees, weighted
average $0.024 per share
              2,005,000             201         --         --         --        --    19,460       (4,040)          --      15,622

Common stock issued in
December 2005 for
satisfaction of all
obligations related to a
convertible note
payable, weighted average
$0.013 per share
             4,642,857             464          --         --         --        --    59,893            --          --      60,357

Net loss
                    --              --          --         --         --        --        --            --    (600,507)   (600,507)

Balance, December 31, 2005
            113,547,959 $       11,355       1,369         --         55        --   684,958     (224,040)  (1,596,462)  (1,124,189)

Common stock issued
in January
2006 to employees,
weighted
average $0.009 per share
             3,740,000             374          --          --        --        --    35,395          --           --        35,769

Common stock issued
in January
2006 for services,
weighted
average $0.010 per share
            12,000,000          1,200           --          --        --        --  121,200           --           --       122,400

Common stock issued
in January
2006 for services,
weighted
average $0.015 per share
            2,150,000            215           --           --        --        --   32,035           --           --        32,250

Common stock issued
in February
2006 for services,
weighted
average $0.006 per share
           2,700,000             270           --           --        --        --   17,630           --           --        17,900

Common stock issued
in February
2006 to employees,
weighted
average $0.018 per share
           2,623,077             262           --            --       --        --   48,037           --           --       48,299

Common stock issued
in March 2006
to employees,
weighted average
$0.017 per share
            626,923              63           --            --        --        --   10,594           --           --       10,657

Common stock issued
in March 2006
based on exercise
of warrant,
weighted average $0.0001
        30,879,999           3,088            --            --         --        --   24,700            --          --      27,788

Common stock issued
in March 2006
for services,
weighted average
$0.014 per share
           500,000             50            --             --         --        --    6,950            --          --       7,000

Common stock issued
in March 2006
to employees,
weighted
average $0.015 per share
           673,077             67            --             --         --        --  10,030             --          --      10,097

Payment for shares
issued
December 2005
                --             --            --             --         --        --      --          4,040          --       4,040

Net loss        --             --            --             --         --        --      --             --    (397,705)    (397,705)

Balance, March 31,
2006
(unaudited)
     169,441,035    $   16,945          1,369(2)$          0         55    $    0   $991,529 $  (220,000) $(1,994,168) $ (1,205,694)
</TABLE>


(1) Adjusted for a one for one hundred reverse split effective on
January 21, 2005, and a three for two stock dividend effective on
August 15, 2005.

(2) In January 2006, the Company made the determination to cancel the 1,369
shares of Class A preferred stock based on non-performance under a related
loan agreement.  Therefore, the Company considers these shares to be issued,
since they have not actually been cancelled yet, but not outstanding.

The accompanying notes are an integral part of these condensed
consolidated financial statements.


                                     WORLD AM, INC.
                             (A Development Stage Company)
                    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                      (Unaudited)



<TABLE>
<CAPTION>
                                                                                       From Inception
                                                           Three Months                (March 4, 2005)
                                                       Ended March 31, 2006                Through
                                                                                         March 31, 2006
<S>                                                    <C>                             <C>
Cash flows from operating activities:
Net loss                                               $  (397,705)                    $  (998,211)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation                                                   644                           2,484
Stock issued for services                                  189,646                         377,397
Warrant exercise                                            27,788                          27,788
Loss on reclassification of capital lease
   asset                                                        --                          2,388

Settlement gain                                                 --                       (116,000)

Changes in operating assets and liabilities:
Change in accounts receivable, net                           3,730                         27,738
Change in inventory                                           (529)                        (1,597)
Change in other assets                                         871                          4,071
Change in accounts payable and accrued
   liabilities                                              72,640                        131,380
Change in payroll taxes payable                             49,551                        161,756
Net cash used in operating activities                      (53,364)                      (380,806)

Cash flows from investing activities:
Cash acquired in reverse merger                                 --                            935
Purchase of fixed assets                                        --                             --
Net cash provided by investing activities                       --                            935

Cash flows from financing activities:
Change in due to related parties                          (161,887)                       (46,664)
Proceeds from agreement with prospective investor          125,000                        125,000
Proceeds from exercise of employee options                  98,767                        364,655
Proceeds from sale of preferred stock                           --                         10,000
Proceeds (payments) from line of credit                      2,150                         (6,331)
Principal payments on
convertible note payable                                        --                        (30,000)
Principal payments on note payable                              --                        (15,720)
Assumption of capital lease obligation                                                         --
Principal payments on capital lease obligation                                                 --
Proceeds related to stock options exercised in 2003
  recorded as receivable related to the issuance of
  common stock                                                                                 --
   Net cash provided by financing activities                64,030                        400,940

Net change in cash                                          10,666                         21,069

Cash, beginning of period                                   10,403                             --

Cash, end of period                                     $   21,069                     $   21,069

Supplemental disclosure of cash
flow information:
Cash paid for income taxes                              $       --                     $       --
Cash paid for interest                                  $      412                     $    5,695

Schedule of non-cash operating, investing and
financing activities:
Acquisition of other assets and liabilities
  in reverse merger                                     $       --                     $ (995,956)

Issuance of 55 shares of Class B preferred stock        $       --                     $       --

Issuance of warrants for purchase of 18,000,000
shares of common stock                                  $       --                     $       --

Reclassification of capital lease                       $       --                     $    8,175

Removal of fixed asset due to reclassification
of capital lease                                        $       --                     $   10,563

</TABLE>


The accompanying notes are an integral part of these
condensed consolidated financial statements.



                                    WORLD AM, INC.
                            (A Development Stage Company)
                NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                    (Unaudited)

NOTE 1 - BASIS OF PRESENTATION

The consolidated financial statements include the accounts of the
World Am, Inc. and its subsidiaries ("Company") as of March 31, 2006
and for the three month period ended March 31, 2006 and from inception
through March 31, 2006. All significant intercompany balances have
been eliminated in consolidation.  Senz-It, Inc. was incorporated on
March 4, 2005.  No accounting transactions were recorded, other than
incorporation expenses of $1,700 during the four weeks ending March 31, 2005.
As a result, no comparisons are made to prior year financial statements.

The interim condensed consolidated financial information is unaudited.
In the opinion of management, all adjustments necessary to present
fairly the financial position as of March 31, 2006 and the results of
operations and cash flows presented herein have been included in the
consolidated financial statements. Interim results are not necessarily
indicative of results of operations for the full year.

The accompanying condensed consolidated financial statements have been
prepared in accordance with Securities and Exchange Commission
requirements for interim financial statements. Therefore, they do not
include all of the information and footnotes required by accounting
principles generally accepted in the United States for complete
financial statements. The financial statements should be read in
conjunction with the Form 10-KSB of the Company for the year ended
December 31, 2005.

The preparation of financial statements in conformity with accounting
principles generally accepted in the United States necessarily
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 revenues and expenses during
the reporting period.  Actual results could differ from those
estimates.

NOTE 2 - GOING CONCERN

The Company incurred a net loss of $397,706 for the three months ended
March 31, 2006 and the Company's current liabilities exceeded its
current assets by $1,217,098 at March 31, 2006. The accumulated
deficit was $1,994,168 as of March 31, 2006. These factors
create substantial doubt about the Company's ability to
continue as a going concern. The Company's management has plans to
promote its services, gain clients and expand its relationships with
current clients. The Company will also seek additional sources of
capital through the issuance of debt and equity financing, but there
can be no assurance that the Company will be successful in
accomplishing its objectives. The Company will require at least
$5,000,000 to sustain operations and implement its business plan.

The ability of the Company to continue as a going concern is dependent
on additional sources of capital and the success of the Company's
plan. The financial statements do not include any adjustments that
might be necessary if the Company is unable to continue as a going
concern.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Stock-Based Compensation - In December 2004, the Financial Accounting
Standards Board ("FASB") issued Statement of Financial Accounting
Standards ("SFAS") No. 123R, which is a revision of SFAS No. 123,
"Accounting for Stock-Based Compensation." This Statement supersedes
Accounting Principles Board ("APB") Opinion No. 25, "Accounting for
Stock Issued to Employees," and its related implementation guidance.
This Statement establishes standards for the accounting for
transactions in which an entity exchanges its equity instruments for
goods or services. It also addresses transactions in which an entity
incurs liabilities in exchange for goods or services that are based on
the fair value of the entity's equity instruments or that may be
settled by the issuance of those equity instruments. This Statement
focuses primarily on accounting for transactions in which an entity
obtains employee services in share-based payment transactions. This
Statement requires a public 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 will be recognized over the period during which an employee
is required to provide service in exchange for the award - the
requisite service period (usually the vesting period). The Company
files as a small business issuer and must meet the requirements of
this Statement for accounting periods after December 15, 2005. The
Company is evaluating SFAS No. 123R and believes it may have a
material effect on the Company's financial statements.

Net Loss Per Common Share - The Company computes net loss per share in
accordance with SFAS No. 128, "Earnings per Share," and Securities and
Exchange Commission Staff Accounting Bulletin ("SAB") No. 98.  Under
the provisions of SFAS No. 128 and SAB No. 98, basic net loss per
share is computed by dividing the net loss available to common
stockholders for the period by the weighted average number of shares
of common stock outstanding during the period. The calculation of
diluted net loss per share gives effect to common stock equivalents,
however, potential common shares are excluded if their effect is
antidilutive.  For the period from January 1 through March 31, 2006,
no shares were excluded from the computation of diluted earnings per
share because their effect would be antidilutive.  Net loss per share
for the period from January 1 through March 31, 2006 reflect the 100-
to-1 reverse stock split that occurred during January 2005 and the
three-for-two stock dividend that occurred in August 2005.

Revenue Recognition - Sales and construction of customized commercial
products are recognized under the percentage-of-completion basis when:
(1) Contracts executed by the parties normally include provisions that
clearly specify the enforceable rights regarding goods or service to
be provided and received by the parties, the consideration to be
exchanged, and the manner and terms of settlement; (2) the buyer can
be expected to satisfy his obligations under the contract; (3) the
Company can be expected to perform our contractual obligations; and
(4) the Company can make reasonably dependable estimates of costs to
complete and the extent of progress toward completion. The Company
measures the extent of progress toward completion by using a ratio of
costs incurred to total estimated costs. The effects of changes in the
estimates, if any, are reported in the period of change and subsequent
periods. Contracts not meeting the above criteria are reported on the
completed contract method. All other sales of products are recognized
upon delivery.

Inventory - Inventory is stated at the lower of cost or market.  Cost
is principally determined by using the average cost method.  Inventory
consists of raw materials as well as finished goods held for sale.
The Company's management monitors the inventory for excess and
obsolete items and makes necessary valuation adjustments when required.

Acquisition - On August 31, 2005, the Company consummated an agreement
to acquire all of the issued and outstanding capital stock of Senz-It,
Inc. in exchange for 55 shares of the Company's Class B preferred
stock and a warrant for 18,000,000 shares of common stock.  The
exercise price of the common shares under this warrant is $0.0001 per
share.  The warrant vests immediately and expires in August 2010.
Each share of Class B preferred stock is convertible into 1% of the
outstanding common share of the Company, including the common stock
equivalents of all unexercised warrants, options and convertible
securities, or a minimum of 7,272,728 shares of common stock.

The transaction is considered to be a capital transaction in
substance, rather than a business combination, with Senz-It, Inc.
being the acquirer for accounting purposes.  Inasmuch, the transaction
is equivalent to the issuance of stock by a development stage company
(Senz-It, Inc.) for the net monetary assets of a public company (World
Am, Inc.) accompanied by a recapitalization.  The accounting for the
transaction is identical to that resulting from a reverse acquisition,
except goodwill or other intangible assets were not recorded, because,
in the judgment of Company management, no goodwill or other intangible
assets can be associated with the Company.  Accordingly, these
consolidated financial statements are the historical financial
statements of Senz It, Inc.

Senz-It, Inc. was incorporated in the State of California on March 4,
2005.  There is no historic financial information prior to March 31, 2005.
Therefore, no prior year financial information is available to be
presented in the attached financial statements.

NOTE 4 - INVENTORY

Inventory totaling $12,681 consists of raw materials.

NOTE 5 - DUE TO STOCKHOLDERS

Due to stockholders totaling $397,186 as of March 31, 2006 consist of
unreimbursed expenses and accrued wages to various stockholders and
employees, including $302,670 that is owed to the Company's former
president and chief executive officer for accrued salary and
reimbursement of expenses.  An additional $5,000 has been lent by a
company owned and managed by the former president and chief executive
officer.  All loans are unsecured, bearing no interest and due on
demand.

The Company also accrued the cost of a finder's fee and other services
provided by a consultant. At March 31, 2005, $70,000 out of the
original $204,000 has not yet been paid.

NOTE 6 - PAYROLL TAXES PAYABLE

As of March 31, 2006 payroll taxes payable consists of late payroll
taxes for both payroll and stock option activity totaling $346,275.
Settlement discussions are presently underway to resolved this matter.

NOTE 7 - FUNDING AGREEMENT

On January 23, 2006, the Company entered into a Securities Purchase
Agreement with Golden Gate Investors, Inc..  Under this agreement,
Golden Gate agreed to purchase from the Company a convertible
debenture in the aggregate principal amount of $1,000,000.  The
conversion price is equal to the lesser of (i) $0.20, or (ii) 80% of
the average of the 3 lowest volume weighted average prices during the
20 trading days prior to the election to convert, or (iii) 80% of the
volume weighted average price on the trading day prior to the election
to convert.

In conjunction with the debenture, the Company issued to Golden Gate a
warrant, dated January 23, 2006, to purchase 10,000,000 shares of
common stock of the company, exercisable at $1.00 per share.  The
Company also issued to Golden Gate a warrant, dated January 23, 2006,
to purchase up to that number of shares of common stock equal to
$2,750,000 divided by 120% of the average of the current market prices
of the common stock for the 20 trading days prior to January 23, 2006,
at a price per share equal to the 120% of the average of the current
market price of the common stock for the 20 trading days prior to
January 23, 2006.

Under an addendum to the debenture and the warrant (dated February 7,
2006), the following was amended (among other things): (a) the
principal amount of the debenture was reduced to $100,000; (b) the
number of shares into which this debenture may be converted was
changed to equal to the dollar amount of the debenture being converted
multiplied by 110, minus the product of the conversion price
multiplied by 100 times the dollar amount of the debenture being
converted, and the entire foregoing result divided by the conversion
price; and (c) the exercise price of the first warrant was increased
to $1.09 per share, with the warrant exercised in an amount equal to
100 times the amount of the debenture being converted.  With the
execution of this addendum, this transaction was closed.

In connection with this agreement, the Company also granted to Golden
Gate certain rights under a registration rights agreement, dated
January 23, 2006, to the shares to be issued upon conversion of the
debenture and the warrants.

Golden Gate provided the Company with an aggregate $150,000 on
February 7, 2006, as follows:

     - $100,000 for the debenture was disbursed directly to the Company;
       and

     - $50,000 has been retained for services provided to our company by
       various professionals (this amount represents a prepayment
       towards the exercise of $1.09 warrant).

Golden Gate may demand repayment of 125% of the principal amount of
the debenture, together with all accrued and unpaid interest thereon,
in cash, at any time prior to the Company's registration statement
being declared effective by the Securities and Exchange Commission
("SEC") or during the period that the Company's registration statement
is not effective.  Such a decision would be under the sole control of
Golden Gate. The Company has not yet filed a registration statement
with the SEC; hence, Golden Gate still has the option to demand
repayment.  Further, if Golden Gate were to demand repayment of the
debenture, all warrants connected to this transaction would be cancelled.

Company management has determined that the appropriate accounting for
the debenture during the period until the registration statement is
declared effective is to treat it as a current note payable of
$125,000 bearing interest of 6.75% per annum.

Interest payments of $412 were made in the first quarter, and an
additional $581 was accrued.

NOTE 8 - LINE OF CREDIT

The Company has a line of credit through a credit card company with a
credit line up to $5,000 with an annual variable rate currently at 0%.
As of March 31, 2006, the balance on the line of credit totaled $2,150.

NOTE 9 - NOTES PAYABLE

The Company had a total of $223,180 in notes payable at March 31, 2006.

In April 2005, the Company entered into an accounts receivable
factoring and security agreement for up to $75,000 with a financing
entity.  However, the account receivable was used as collateral for
the factoring agreement, and was not assigned to the lender. When
payment from the customer was received, the factor was not paid,
placing the Company in default on the loan.  Under the settlement
agreement of December 2005, the Company agreed to pay interest at an
annual rate of 19%.  At March 31, 2006 the amount owed under the
settlement agreement was $46,180.

On January 23, 2006, the Company entered into a Securities Purchase
Agreement with Golden Gate Investors, Inc.  The balance owed at March
31,2006 was $125,000.  See Note 7 for details.

In April 2005 the Company issued a $30,000 note to an individual. The
note is due on demand, is secured by stock and bears interest at the
rate of 8% per annum.

The remaining $22,000 of notes payable is due on demand, bear no
interest and are unsecured.

NOTE 10 - ACCOUNTS RECEIVABLE

In February 2005, World Am, Inc. entered into a factoring and security
agreement for up to $75,000. This amount has been used primarily for
accounts receivable factoring, and also for a $30,000 convertible note
payable. The factoring is secured by specifically identified accounts
receivable; the factored amounts are charged fees and interest on a
sliding scale. The amount owed for factoring at March 31, 2006 was
$46,180

NOTE 11 - EMPLOYEE STOCK INCENTIVE PLAN

The World Am, Inc. Amended and Restated Employee Stock Incentive Plan,
dated February 7, 2006, is intended to allow designated officers and
employees, and certain non-employees of the Company, to receive
certain options to purchase common stock, and to receive grants
subject to certain restrictions. The purpose of this Plan is to
provide employees with equity-based compensation incentives to make
significant and extraordinary contributions to the long-term
performance and growth of the Company, and to attract and retain
employees of exceptional ability.

The maximum number of shares of stock that may be issued is
235,000,000. The purchase price of shares under the plan is $0.015 per
share. The Company pays the sales commission on the exercise of each
option. The option period begins on the date of grant of the incentive
option and will not exceed ten years. There were options granted
covering 125,000,000 shares under the plan during the year ended
December 31, 2005. Options representing 12,513,077 shares of common
stock were exercised during the quarter ended March 31, 2006. As of
March 31, 2006, there were 101,563,423 shares of common stock
remaining to be issued under this plan.

NOTE 12 - PREFERRED STOCK

(a)  During June 2004, the Company entered into a loan agreement with
a lender whereby the lender agreed to use its best efforts to provide
the Company a loan in the maximum amount of $2,000,000 subject to
certain terms and conditions.  The Company agreed to issue 1,370
shares of Class A preferred stock that is convertible to common stock
at a ratio of 1-to-1,000,000 as collateral on the loan. The shares
were issued in June 2004.  The lender did not fund the loan and
accordingly, the Company provided a written demand for the return of
the shares; the certificate for 1,370 shares was returned to the
Company and cancelled.

During May 2005, the Lender assigned all rights set forth in the loan
agreement to Coldwater Capital Partners, LLC.  On this basis, a
certificate for 1,370 shares of Class A preferred stock was issued on
June 4, 2005.  On July 21, 2005, the Company authorized that one share
of the Class A preferred stock be converted into 1,000,000 restricted
shares of common stock.  The Company never received any funding under
this loan agreement.  Therefore, in January 2006 the Company made the
determination to cancel the balance of 1,369 shares of Class A
preferred stock (they have not actually been cancelled yet).  The Company
is analyzing its alternatives with regard to the 1,000,000-share conversion.

(b)  On August 31,2005, the Company completed a Share Exchange
Agreement with Senz-It, Inc.  Under this agreement, Senz-It becomes a
wholly owned subsidiary of the Company in exchange for 55 shares of
Class B convertible preferred stock (among other consideration).  Each
share of Class B preferred stock is convertible into the greater of
(a) that number of shares of common stock of the Company equal to 1%
of the outstanding shares of common stock of the Company as of the
date of conversion, after giving consideration to the shares issued as
a result of the conversion, any options, warrants or other convertible
securities then outstanding, and any other securities issued
simultaneously on the day of conversion, or 7,272,728 shares of common stock.

NOTE 13  COMMITMENTS AND CONTINGENCIES

On October 25, 2004, a complaint was filed in the United States
District Court, District of Colorado: Mitchell Vince V. Isotec, Inc.
and World Am, Inc. The complaint alleges that Isotec terminated Mr.
Vince without cause prior to the expiration of the term of an alleged
employment agreement. The complaint seeks monetary damages of
$240,000. The Company has retained counsel in the matter and
responsive pleadings have been filed. The suit has not been settled.

Management believes the Company has meritorious claims and defenses to
the plaintiffs' claims and ultimately will prevail on the merits.
However, this matter remains in the early stages of litigation and
there can be no assurance as to the outcome of the lawsuit. Litigation
is subject to inherent uncertainties, and unfavorable rulings could
occur. Were unfavorable rulings to occur, there exists the possibility
of a material adverse impact of money damages on the Company's
financial condition, results of operations, or liquidity of the period
in which the ruling occurs, or future periods.

NOTE 14 SUBSEQUENT EVENTS

(a)  Stock issuances:

(1)   On April 5, 2006, the Company granted options to purchase
300,000 shares of the Company's common stock pursuant to the
Amended and Restated Employee Stock Incentive Plan. The options
were immediately exercised.  The shares had a fair value of
$6,300 ($0.021 per share).

(2)   On April 13, 2006, the Company issued 1,300,000 shares of
common stock for services totaling $18,200 ($0.014 per share).

(b)  On May 18, 2006, the Company's subsidiary, Isotec, Inc., issued a
demand promissory note in favor of the Company's controlling
shareholder, SUTI Holdings, LP.  Under this note, the Company may
borrow up to $100,000.  These funds are being used to assist in the
ongoing operations of the Company.  Under the terms of the promissory
note in connection with this loan, the principal and all accrued
interest is to be no later than 30 days following the commencement
date.  The principal amount from time to time outstanding is to bear
simple interest from the commencement date through the maturity date
at a rate equal to 8% of the loan amount.  After an Event of Default
(as defined in the promissory note), all past due principal and, to
the extent permitted by applicable law, interest upon this note is to
bear interest at the rate per annum equal to 12%.  The Company has
borrowed a total of $19,030 under this note.

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

     The following discussion and analysis of financial condition and
results of operations of the Company is based upon, and should be read
in conjunction with, its unaudited condensed consolidated financial
statements and related notes included elsewhere in this Form 10-QSB,
which have been prepared in accordance with accounting principles
generally accepted in the United States.

     On August 31, 2005, the Company, Inc. consummated an agreement to
acquire all of the issued and outstanding capital stock of Senz-It,
Inc. from SUTI Holding, LP ("SUTI"), in exchange for 55 shares of the
Company's Class B preferred stock and a warrant for 18,000,000 shares
of common stock. The exercise price of the common shares under these
warrants is $0.0001 per share. The warrants vest immediately and
expire in August 2010.  Each share of Class B preferred stock is
convertible into 1% of the outstanding common shares of the Company,
including the common stock equivalents of all unexercised warrants,
options and convertible securities, or a minimum of 7,272,728 shares
of common stock.  Each share of Class B preferred stock is entitled to
the number of votes to which the holder would be entitled if it had
converted its shares of Class B preferred stock at the time of voting.

     According to the terms of the acquisition agreement, the warrants
and the preferred stock were issued upon the closing of this
transaction on August 31, 2005.  Under the terms of this agreement,
the Company is obligated, among other things, to raise capital in the
amount of $4,000,000 to support the product development of Senz-It,
Inc. by June 30, 2006.  If sufficient funds are not raised, SUTI has
the right to rescind the acquisition agreement.

     Under this agreement, SUTI is entitled to select three directors
to for the Company's board of directors.  As of June 20, 2005, Select
University Technologies, Inc., the general partner of SUTI, was hired
to manage all operations of Senz-It, Inc. under the terms of a Venture
Acceleration Agreement (see Exhibit 10.7).

     Since this transaction has been completed, Senz-It intends to
exercise the option it holds to enter into an exclusive, royalty-
bearing license with the State University of New York at Buffalo (see
Exhibit 10.6).  This license will cover patents developed by that
university that will enable Senz-It to develop technology with an
entirely new approach to sensing, process monitoring, homeland
security and environmental scanning applications.  When executed, this
license agreement will be disclosed in an amended Form 8-K.

     Fundraising efforts will continue during the second quarter of
2006 to move Senz-It to an engineering prototype phase. The technology
represented by Senz-It is an innovative advancement in the field of
micro-sensors that have applications in homeland security, indoor air
quality monitoring, food processing and health care.  The products are
in the developing field of "electronic noses" and can identify
patterns of molecules present in air or liquid environments for
significantly less cost than current approaches.

     Prior to the transaction discussed above, the Company was a
public company with assets of $88,656, liabilities totaling
$1,084,612, and 66,570,285 shares of common stock issued and
outstanding; Senz-It was a privately-held, non-operating development
stage company. The transaction is considered to be a capital
transaction in substance, rather than a business combination.
Inasmuch, the transaction is equivalent to the issuance of stock by a
development stage company (Senz-It, Inc.) for the net monetary assets
of a public company (World Am, Inc.), accompanied by a
recapitalization. The accounting for the transaction is identical to
that resulting from a reverse acquisition, except goodwill and other
intangible assets were not recorded.  No goodwill was recognized
because in the judgment of Company management, no goodwill could be
associated with the operations of World Am, Inc.  Accordingly, these
consolidated financial statements are the historical financial
statements of Senz-It, Inc.  Senz-It, Inc. was incorporated on March
4, 2005.  No transactions were recorded during the period ending March
31, 2005, hence there are no prior year financial statements against
which to make comparisons.

Overview.

     The Company has developed and or is in the process of
developing innovative systems and processes in the field of
"Transparent Security" and "Automated Passage Control." Company
personnel have installed systems for Lawrence Livermore Labs, Mellon
Bank, Wells Fargo Bank, the United States Air Force and United States
Department of Energy, among others. The principal markets for our
products and services remain government and financial institutions.

     The Company believes that its planned growth and
profitability will depend in large part on the ability to promote its
services, gain clients and expand its relationship with current
clients. Accordingly, the Company intends to focus its attention and
investment of resources in marketing, strategic partnerships, and
development of its client base. In addition to development of our own
products and services, we have broadened our product offering by
becoming distributors of additional products in our core marketplace
in order to generate additional revenues. If the Company is not
successful in promoting its services and expanding its client base,
this may have a material adverse effect on its financial condition and
the ability to continue to operate the business.

     Efforts during the first quarter of 2006 focused on the
development of sales and marketing materials.  An extensive library of
customer and dealer oriented materials, including a PowerPoint presentation
that outlines the Company's products, services and strengths, was
completed. Corporate print material, as well as target market print
material, data sheets, photomontages of installations and application
notes, are ready for distribution.  Animated demonstrations and video
demonstrations of weapons control portals were completed.  Two CD's
were produced, one as a handout for customers, and the other for
dealers and distributors.

     A marketing effort was initiated to attract commercial dealers
using prioritized contact lists of system integrators. A training
program was held for government and international representatives.
Also, a second-generation touch screen interface was designed and
introduced with several new features. The anti-tailgating product was
enhanced. The Company received notification that Isotec Weapons
Control Portals meet the 2006 fire code regulations.
The Company believes its future growth and overall success will
be dependent upon its ability to develop the patent protected
technology represented by the Senz-It transaction.

Results of Operations.

     Senz-It was incorporated in the State of California on March 4,
2005. There is no historic financial information prior to March 31,
2005.  Therefore, no prior year financial information is available to
be presented in the attached financial statements.

(a)  Revenues.

     Revenues for the three months ended March 31, 2006 were
$68,660 and $281,432 for the period from inception (March 4, 2005) through
March 31, 2006.

(b)  Cost of Revenues.

     Cost of revenues for the three months ended March 31, 2006
was $31,443 and $147,228 for the period from inception (March 4, 2005)
through March 31, 2006.

(c)  General and Administrative Expense.

     General and administrative expenses were $433,857 for the three
months ended March 31, 2006 and $1,221,347 for the period from inception
(March 4, 2005) through March 31, 2006.  The general and administrative
expenses reflect the impact of the reverse merger.

(d)  Net Operating Loss Carryforward.

     For the fiscal year ended December 31, 2005, the Company had incurred a
net operating loss carryforward of $10,941,018.  Realization of
deferred tax assets is dependent upon future earnings, if any, the timing and
amount of which are uncertain. Accordingly, the net deferred tax assets have
been fully offset by a  valuation allowance. These carryforwards, if not
utilized to offset taxable income will expire in various periods through 2025.
Such losses may not be fully deductible due to significant amounts of non-cash
service costs and the change in ownership rules under Section 382 of the
Internal Revenue Code.

    The company has established a valuation allowance for the full tax benefit
of the operating loss carry overs due to the uncertainty regarding
realization.

(e)  Loss from Operations.

     The net loss for the three months ended March 31, 2006 was $397,705 and
$998,211 for the period from inception (March 4, 2005) through March 31, 2006.

Factors That May Affect Operating Results.

     The operating results of the Company can vary significantly
depending upon a number of factors, many of which are outside its
control.  General factors that may affect the Company's operating
results include:

     - market acceptance of and changes in demand for products and
       services;

     - consolidation in the distributor channel;

     - a small number of customers account for, and may in future
       periods account for, substantial portions of the Company's
       revenue, and revenue could decline because of delays of customer
       orders or the failure to retain customers;

     - gain or loss of clients or strategic relationships;

     - announcement or introduction of new services and products by the
       Company or by its competitors;

     - the ability to build brand recognition;

     - timing of sales to customers;

     - the ability to upgrade and develop systems and infrastructure to
       accommodate growth;

     - the ability to introduce and market products and services in
       accordance with market demand;

     - changes in governmental regulation; and

     - reduction in or delay of capital spending by clients due to the
       effects of terrorism, war and political instability.

     The Company believes that its planned growth and profitability
will depend in large part on the ability to promote its services, gain
clients and expand its relationship with current clients.
Accordingly, the Company intends to invest in marketing, strategic
partnerships, and development of its client base.  If the Company is
not successful in promoting its services and expanding its client
base, this may have a material adverse effect on its financial
condition and the ability to continue to operate the business.

     The Company is also subject to the following specific factors
that may affect its operating results:

(a)  The Company May Not Be Able To Accommodate Rapid Growth Which
Could Decrease Revenues And Result In A Loss Of Customers.

     The Company has developed innovative systems and processes to
establish itself as a factor in the field of transparent security and
automated passage control, and has installed systems for such
locations as Lawrence Livermore Labs, Mellon Bank, Wells Fargo Bank
and the United States Air Force and United States Department of
Energy.  To manage anticipated growth, we must continue to implement
and improve our operational, financial and management information
systems.  The Company must also hire, train and retain additional
qualified personnel, continue to expand and upgrade core technologies,
and effectively manage our relationships with end users, suppliers and
other third parties.  Our expansion could place a significant strain
on our current services and support operations, sales and
administrative personnel, capital and other resources.  The Company
could also experience difficulties meeting demand for our services.
The Company cannot guaranty that our systems, procedures or controls
will be adequate to support operations, or that management will be
capable of fully exploiting the market.  Our failure to effectively
manage growth could adversely affect our business and financial results.

(b)  Protection of Proprietary Rights May Affect Our Success and
Ability to Compete.

     The Company's success and ability to compete will be dependent in
part on the protection of our potential patents, trademarks, trade
names, service marks and other proprietary rights.  We intend to rely
on trade secret and copyright laws to protect the intellectual
property that we plan to develop, but there can be no assurance that
such laws will provide sufficient protection to us, that others will
not develop products that are similar or superior to ours, or that
third parties will not copy or otherwise obtain and use our
proprietary information without authorization.  In addition, certain
of our know-how and proprietary technology may not be patentable.

     The Company may rely on certain intellectual property licensed
from third parties, and may be required to license additional products
or services in the future, for use in the general operations of its
business plan.  There can be no assurance that these third party
licenses will be available or will continue to be available to us on
acceptable terms or at all.  The inability to enter into and maintain
any of these licenses could have a material adverse effect on our
business, financial condition or operating results.

     There is a risk that some of our products may infringe the
proprietary rights of third parties.  In addition, whether or not our
products infringe on proprietary rights of third parties, infringement
or invalidity claims may be asserted or prosecuted against it and it
could incur significant expense in defending them.  If any claims or
actions are asserted against the Company, it may be required to modify
its products or seek licenses for these intellectual property rights.
We may not be able to modify our products or obtain licenses on
commercially reasonable terms, in a timely manner or at all.  Our
failure to do so could have a negative affect on its business and revenues.

(c)  Dependence on Suppliers May Affect the Ability of Us to Conduct
Business.

     The Company depends upon a number of suppliers for components of
its products.  There is an inherent risk that certain components of
our products will be unavailable for prompt delivery or, in some
cases, discontinued.  The Company has only limited control over any
third-party manufacturer as to quality controls, timeliness of
production, deliveries and various other factors.  Should the
availability of certain components be compromised, it could force the
Company to develop alternative designs using other components, which
could add to the cost of goods sold and compromise delivery
commitments.  If we are unable to obtain components in a timely
manner, at an acceptable cost, or at all, we may need to select new
suppliers, redesign or reconstruct processes used to build its
devices.  In such an instance, the Company would not be able to
manufacture any devices for a period of time, which could materially
adversely affect its business, results from operations, and financial
condition.

(d)  The Company Faces Strong Competition in Our Market, Which Could
Make It Difficult for It to Generate Income

     The market for the Company's products is competitive.  Our future
success will depend on our ability to adapt to rapidly changing
technologies, evolving industry standards, product offerings and
evolving demands of the marketplace.

     Some of our competitors have:

     - longer operating histories;

     - larger customer bases;

     - greater name recognition and longer relationships with clients;
       and

     - significantly greater financial, technical, marketing, public
       relations and managerial resources than the Company.

     Competitors may develop or offer services that provide
significant technological, creative, performance, price or other
advantages over the products offered by the Company .  If we fail to
gain market share or lose existing market share, our financial
condition, operating results and business could be adversely affected
and the value of the investment in the Company could be reduced
significantly.   We may not have the financial resources, technical
expertise or marketing, distribution or support capabilities to
compete successfully.

(e)  The Company Could Fail To Develop New Products To Compete in this
Industry of Rapidly Changing Technology, Resulting in Decreased Revenue

     The markets in which the Company competes are characterized
by rapid technological change, frequent new product introductions,
evolving industry standards and changing needs of customers.  There
can be no assurance that our existing products will continue to be
properly positioned in the market or that we will be able to introduce
new or enhanced products into the market on a timely basis, or at all.
Currently, the Company is focusing on upgrading and introducing new
products.  There can be no assurance that enhancements to existing
products or new products will receive customer acceptance.  As
competition in the electronic payments industry increases, it may
become increasingly difficult for the Company to be competitive.

     Risks associated with the development and introduction of
new products include delays in development and changes in payment
processing, and operating system technologies that could require the
Company to modify existing products.  There is also the risk to the
Company that there may be delays in initial shipments of new products.
Further risks inherent in new product introductions include the
uncertainty of price-performance relative to products of competitors,
competitors' responses to the introductions and the desire by
customers to evaluate new products for longer periods of time.

(f)  New Versions of the Company's Products May Contain Errors or
Defects, Which Could Affect Its Ability to Compete.

     The Company's products are complex and, accordingly, may
contain undetected errors or failures when first introduced or as new
versions are released.  This may result in the loss of, or delay in,
market acceptance of our products.  The Company may in the future
discover errors and additional scalability limitations in new releases
or new products after the commencement of commercial shipments or be
required to compensate customers for such limitations or errors, as a
result of which our business, cash flow, financial condition and
results of operations could be materially adversely affected.

(g)  The Company's Ability to Grow is Directly Tied to Its Ability to
Attract and Retain Customers, Which Could Result in Reduced Income

     The Company has no way of predicting whether its marketing
efforts will be successful in attracting new business and acquiring
substantial market share.  If our marketing efforts fail, we may fail
to attract new customers and fail to retain existing ones, which would
adversely affect our business and financial results.

(h)  If Government Regulation of Our Business Changes, the Company May
Need to Change the Manner in Which It Conducts Business, or Incur
Greater Operating Expenses.

     The adoption or modification of laws or regulations relating
to our business could limit or otherwise adversely affect the manner
in which we currently conduct our business.  If the Company is
required to comply with new regulations or legislation or new
interpretations of existing regulations or legislation, this
compliance could cause us to incur additional expenses or alter our
business model.

     The manner in which legislation may be interpreted and
enforced cannot be precisely determined and may subject either us or
our customers to potential liability, which in turn could have an
adverse effect on our business, results of operations and financial
condition.

(i)  The Company's Success Is Largely Dependent on the Abilities of
Its Management and Employees.

     The Company's success is largely dependent on the personal
efforts and abilities of its senior management.  The loss of certain
members of the Company's senior management, including its chief
executive officer, could have a material adverse effect on our
business and prospects.

     The Company intends to recruit in fiscal year 2006 employees who
are skilled in its industry. The failure to recruit these key
personnel could have a material adverse effect on our business. As a
result, we may experience increased compensation costs that may not be
offset through either improved productivity or higher revenue.  There
can be no assurances that we will be successful in retaining existing
personnel or in attracting and recruiting experienced qualified personnel.

(j)  Any Required Expenditures as a Result of Indemnification Will
Result in a Decrease of Our Net Income.

     The Company's articles of incorporation include provisions to the
effect that we may indemnify any director, officer, or employee.  In
addition, provisions of Nevada law provide for such indemnification,
as well as for a limitation of liability of our directors and officers
for monetary damages arising from a breach of their fiduciary duties.
Any limitation on the liability of any director or officer, or
indemnification of any director, officer, or employee, could result in
substantial expenditures being made by us in covering any liability of
such persons or in indemnifying them.

Operating Activities.

     The net cash used in operating activities was $380,806 for the
period from inception (March 4, 2005) through March 31, 2006 and $53,364
for the three months ended March 31, 2006.

Investing Activities.

     The net cash provided by investing activities was $935 for the
period from inception (March 4, 2005) through March 31, 2006; this was the
result of cash acquired in the reverse merger transaction with Senz-It.  The
net cash provided by investing activities was $0 for the three months ended
March 31, 2006.

Liquidity and Capital Resources.

(a)  General Discussion.

     As of March 31, 2006, the Company had total current assets of
$54,128 and total current liabilities of $1,271,226, resulting in a
working capital deficit of $1,217,098. At March 31, 2006, the
Company's assets consisted primarily of net accounts receivable
totaling $20,378, inventory of $12,681, and cash of $21,069. During
the period from inception (March 4, 2005) through March 31, 2006, the
Company incurred a net loss of $998,211 and incurred a net loss
of $397,705 for the three months ended March 31, 2006.  The Company had
an accumulated deficit of $1,994,168 as of March 31, 2006.

     These factors raise substantial doubt as to the Company's ability
to continue as a going concern. The Company's independent accountants'
audit report included in the Form 10-KSB for the year ended December
31, 2005 includes a substantial doubt paragraph regarding the
Company's ability to continue as a going concern.

     The accompanying financial statements have been prepared assuming
that the Company continues as a going concern that contemplates the
realization of assets and the satisfaction of liabilities in the
normal course of business assuming the Company will continue as a
going concern.  However, the ability of the Company to continue as a
going concern on a longer-term basis will be dependent upon its
ability to generate sufficient cash flow from operations to meet its
obligations on a timely basis, to retain its current financing, to
obtain additional financing, and ultimately attain profitability.

     The Company's current cash flow from operations will not be
sufficient to maintain its capital requirements for the next twelve
months.  The Company believes it will need to raise up to $5,000,000
during the next twelve months so it may continue executing its
business plans.  Whereas the Company has in the past raised capital
(in the absence of any equity investment, the Company has previously
relied upon short-term borrowings in the form of purchase order and
invoice factoring), no assurance can be given that these sources of
financing will continue to be available to the Company and/or that
demand for our equity/debt instruments will be sufficient to meet its
capital needs, or that financing will be available on terms favorable
to the Company.  The financial statements do not include any
adjustments relating to the recoverability and classification of
liabilities that might be necessary should the Company be unable to
continue as a going concern.

     If funding is insufficient at any time in the future, the Company
may not be able to take advantage of business opportunities or respond
to competitive pressures, or may be required to reduce the scope of
its planned product development and marketing efforts, any of which
could have a negative impact on its business, operating results and
financial condition.  In addition, insufficient funding may have a
material adverse effect on the Company's financial condition, which
could require it to:

     - curtail operations significantly;

     - sell significant assets;

     - seek arrangements with strategic partners or other parties that
       may require the Company to relinquish significant rights to
       products, technologies or markets; or

     - explore other strategic alternatives including a merger or sale
       of the Company.

     To the extent that the Company raises additional capital through
the sale of equity or convertible debentures, the issuance of such
securities may result in dilution to existing stockholders.  If
additional funds are raised through the issuance of convertible
debentures, these securities may have rights, preferences and
privileges senior to holders of common stock and the terms of such
debt could impose restrictions on the Company's operations.
Regardless of whether the Company's cash assets prove to be inadequate
to meet the Company's operational needs, the Company may seek to
compensate providers of services by issuance of stock in lieu of cash,
which may also result in dilution to existing shareholders.

     The net cash provided by financing activities was $400,940 for
the period from inception (March 4, 2005) through March 31, 2006 and $64,030
for the three months ended March 31, 2006, primarily as a result of proceeds
from the exercise of employee options and the Golden Gate transaction
(see below).

(b)  Golden Gate Investors, Inc.

     On January 23, 2006, the Company entered into a Securities
Purchase Agreement with Golden Gate Investors, Inc..  Under this
agreement, Golden Gate agreed to purchase from the Company a
convertible debenture in the aggregate principal amount of $1,000,000
(see Exhibit 4.18).  The conversion price is equal to the lesser of
(i) $0.20, or (ii) 80% of the average of the 3 lowest volume weighted
average prices during the 20 trading days prior to the election to
convert, or (iii) 80% of the volume weighted average price on the
trading day prior to the election to convert.

     In conjunction with the debenture, the Company issued to Golden
Gate a warrant, dated January 23, 2006, to purchase 10,000,000 shares
of common stock of the company, exercisable at $1.00 per share.  The
Company also issued to Golden Gate a warrant, dated January 23, 2006,
to purchase up to that number of shares of common stock equal to
$2,750,000 divided by 120% of the average of the current market prices
of the common stock for the 20 trading days prior to January 23, 2006,
at a price per share equal to the 120% of the average of the current
market price of the common stock for the 20 trading days prior to
January 23, 2006.

     Under an addendum to the debenture and the warrant (dated
February 7, 2006), the following was amended (among other things): (a)
the principal amount of the debenture was reduced to $100,000; (b) the
number of shares into which this debenture may be converted was
changed to equal to the dollar amount of the debenture being converted
multiplied by 110, minus the product of the conversion price
multiplied by 100 times the dollar amount of the debenture being
converted, and the entire foregoing result divided by the conversion
price; and (c) the exercise price of the first warrant was increased
to $1.09 per share, with the warrant exercised in an amount equal to
100 times the amount of the debenture being converted (see Exhibit
4.22).  With the execution of this addendum, this transaction was closed.

     In connection with this agreement, the Company also granted to
Golden Gate certain rights under a registration rights agreement,
dated January 23, 2006, to the shares to be issued upon conversion of
the debenture and the warrants (see Exhibit 4.21).

     Golden Gate provided the Company with an aggregate $150,000 on
February 7, 2006, as follows:

     - $100,000 for the debenture was disbursed directly to the Company;
       and

     - $50,000 has been retained for services provided to our company by
       various professionals (this amount represents a prepayment
       towards the exercise of $1.09 warrant).

     Golden Gate may demand repayment of 125% of the principal amount
of the debenture, together with all accrued and unpaid interest
thereon, in cash, at any time prior to the Company's registration
statement being declared effective by the Securities and Exchange
Commission ("SEC") or during the period that the Company's
registration statement is not effective.  Such a decision would be
under the sole control of Golden Gate. The Company has not yet filed a
registration statement with the SEC; hence, Golden Gate still has the
option to demand repayment.  Further, if Golden Gate were to demand
repayment of the debenture, all warrants connected to this transaction
would be cancelled.

Off Balance Sheet Arrangements.

     The Company does not engage in any off balance sheet arrangements
that are reasonably likely to have a current or future effect on our
financial condition, revenues, results of operations, liquidity or
capital expenditures.

Inflation.

     The impact of inflation on our costs and the ability to pass on
cost increases to its customers over time is dependent upon market
conditions. We are not aware of any inflationary pressures that have
had any significant impact on our operations over the past quarter,
and the Company does not anticipate that inflationary factors will
have a significant impact on future operations.

Critical Accounting Policies.

     The SEC has issued Financial Reporting Release No. 60,
"Cautionary Advice Regarding Disclosure About Critical Accounting
Policies" ("FRR 60"), suggesting companies provide additional
disclosure and commentary on their most critical accounting policies.
In FRR 60, the SEC has defined the most critical accounting policies
as the ones that are most important to the portrayal of a company's
financial condition and operating results, and require management to
make its most difficult and subjective judgments, often as a result of
the need to make estimates of matters that are inherently uncertain.
Based on this definition, the Company's most critical accounting
policies include: (a) use of estimates in the preparation of financial
statements; (b) stock-based compensation arrangements; and (c) revenue
recognition.  The methods, estimates and judgments the Company uses in
applying these most critical accounting policies have a significant
impact on the results the Company reports in its financial statements.

(a)  Use of Estimates in the Preparation of Financial Statements.

     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 these estimates, including those related
to revenue recognition and concentration of credit risk.  The Company
bases its estimates on historical experience and on various other
assumptions that is believed to be reasonable under the circumstances,
the results of which form the basis for making judgments about the
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.

(b)  Stock-Based Compensation Arrangements.

     The Company intends to issue shares of common stock to various
individuals and entities for management, legal, consulting and
marketing services.  These issuances will be valued at the fair market
value of the service provided and the number of shares issued is
determined, based upon the open market closing price of common stock
as of the date of each respective transaction.  These transactions
will be reflected as a component of selling, general and
administrative expenses in the accompanying statement of operations.

(c)  Revenue Recognition.

     Sales and construction of customized commercial products are
recognized under the percentage-of-completion basis when: (1)
Contracts executed by the parties normally include provisions that
clearly specify the enforceable rights regarding goods or service to
be provided and received by the parties, the consideration to be
exchanged, and the manner and terms of settlement; (2) the buyer can
be expected to satisfy his obligations under the contract; (3) the
Company can be expected to perform our contractual obligations; and
(4) the Company can make reasonably dependable estimates of costs to
complete and the extent of progress toward completion.  The Company
measures the extent of progress toward completion by using a ratio of
costs incurred to total estimated costs.  The effects of changes in
the estimates, if any, are reported in the period of change and
subsequent periods.  Contracts not meeting the above criteria are
reported on the completed contract method.  All other sales of
products are recognized upon delivery.

Forward Looking Statements.

     Information in this Form 10-QSB contains "forward looking
statements" within the meaning of Rule 175 of the Securities Act of
1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as
amended.  When used in this Form 10-QSB, the words "expects,"
"anticipates," "believes," "plans," "will" and similar expressions are
intended to identify forward-looking statements.  These are statements
that relate to future periods and include, but are not limited to,
statements regarding our adequacy of cash, expectations regarding net
losses and cash flow, our need for future financing, and our operating
expenses.

     Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those projected.  These risks and uncertainties include, but are
not limited to, those discussed above as well as risks set forth above
under "Factors That May Affect Operating Results."  These forward-
looking statements speak only as of the date hereof.  The Company
expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained
herein to reflect any change in its expectations with regard thereto
or any change in events, conditions or circumstances on which any such
statement is based.

ITEM 3.  CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures.

     The Company maintains disclosure controls and procedures (as
defined in Rule 13a-15(e) and Rule 15d-15(e) under the Securities
Exchange Act of 1934, as amended) that are designed to ensure that
information required to be disclosed in our periodic reports filed
under the Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the SEC's rules and forms, and
that such information is accumulated and communicated to  management,
including the Company's principal executive officer and principal
financial officer, to allow timely decisions regarding required disclosure.

     As of the end of the period covered by this report, management
carried out an evaluation, under the supervision and with the
participation of the Company's principal executive officer and
principal financial officer, of the Company's disclosure controls and
procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the
Exchange Act).  Based upon the evaluation, the Company's principal
executive officer and principal financial officer concluded that its
disclosure controls and procedures were effective at a reasonable
assurance level to ensure that information required to be disclosed by
the Company in the reports that it files or submits under the Exchange
Act is recorded, processed, summarized and reported, within the time
periods specified in the SEC's rules and forms.  In addition, the
Company's principal executive officer and principal financial officer
concluded that its disclosure controls and procedures were effective
at a reasonable assurance level to ensure that information required to
be disclosed by the Company in the reports that it files or submits
under the Exchange Act is accumulated and communicated to the
Company's management, including its principal executive officer and
principal financial officer, to allow timely decisions regarding
required disclosure.

      Because of the inherent limitations in all control systems,
no evaluation of controls can provide absolute assurance that all
control issues and instances of fraud, if any, will be or have been
detected.  These inherent limitations include the realities that
judgments in decision-making can be faulty, and that breakdowns can
occur because of simple error or mistake.  Additionally, controls can
be circumvented by the individual acts of some persons, by collusion
of two or more people, and/or by management override of the control.
The design of any system of controls also is based in part upon
certain assumptions about the likelihood of future events, and there
can be no assurance that any design will succeed in achieving its
stated goals under all potential future conditions; over time,
controls may become inadequate because of changes in conditions,
and/or the degree of compliance with the policies and procedures may
deteriorate. Because of the inherent limitations in a cost-effective
internal control system, misstatements due to error or fraud may occur
and not be detected.

Changes in Disclosure Controls and Procedures.

     There were no changes in the Company's disclosure controls and
procedures, or in factors that could significantly affect those
controls and procedures, since their most recent evaluation.

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS.

     Other than as set forth below, the Company is not a party to any
material pending legal proceedings and, to the best of its knowledge,
no such action by or against the Company has been threatened.

     On October 25, 2004, a complaint was filed in the United States
District Court, District of Colorado: Mitchell Vince V. Isotec, Inc.
and World Am, Inc. The complaint alleges that Isotec terminated Mr.
Vince without cause prior to the expiration of the term of an alleged
employment agreement. The complaint seeks monetary damages of
$240,000. The Company has retained counsel in the matter and
responsive pleadings have been filed. The suit has not been settled.

     Management believes the Company has meritorious claims and
defenses to the plaintiffs' claims and ultimately will prevail on the
merits. However, this matter remains in the early stages of litigation
and there can be no assurance as to the outcome of the lawsuit.
Litigation is subject to inherent uncertainties, and unfavorable
rulings could occur. Were unfavorable rulings to occur, there exists
the possibility of a material adverse impact of money damages on the
Company's financial condition, results of operations, or liquidity of
the period in which the ruling occurs, or future periods.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

     There were no unregistered sales of the Company's equity
securities during the three months ended on March 31, 2006 that were
not previously disclosed in a Form 8-K.  There were no purchases of
common stock of the Company by the Company or its affiliates during
the three months ended March 31, 2006.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.

     Not Applicable.

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

     None

ITEM 5.  OTHER INFORMATION.

Subsequent Events.

     (a)  Stock issuances:

     (1)   On April 5, 2006, the Company granted options to purchase
300,000 shares of the Company's common stock pursuant to the
Amended and Restated Employee Stock Incentive Plan. The options
were immediately exercised.  The shares had a fair value of
$6,300 $0.021 per share).

     (2)   On April 13, 2006, the Company issued 1,300,000 shares of
common stock for services totaling $18,200 ($0.014 per share).

     (b)  On May 18, 2006, the Company's subsidiary, Isotec, Inc.,
issued a demand promissory note in favor of the Company's controlling
shareholder, SUTI Holdings, LP.  Under this note, the Company may
borrow up to $100,000.  These funds are being used to assist in the
ongoing operations of the Company.  Under the terms of the promissory
note in connection with this loan, the principal and all accrued
interest is to be no later than 30 days following the commencement
date.  The principal amount from time to time outstanding is to bear
simple interest from the commencement date through the maturity date
at a rate equal to 8% of the loan amount.  After an Event of Default
(as defined in the promissory note), all past due principal and, to
the extent permitted by applicable law, interest upon this note is to
bear interest at the rate per annum equal to 12%.  The Company has
borrowed a total of $19,030 under this note.

ITEM 6.  EXHIBITS.

     Exhibits included or incorporated by reference herein are set
forth in the attached Exhibit Index.


                                 SIGNATURES

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

                                       World Am, Inc.



Dated: May 22, 2006                    By: /s/ Robert A. Hovee
                                       Robert A. Hovee,
                                       Chief Executive Officer


Dated: May 22, 2006                    By: /s/ David J. Barnes
                                       David J. Barnes,
                                       Chief Financial Officer


                              EXHIBIT INDEX

Number                     Description

2.1     Agreement and Plan of Merger between the Company and Allmon
        Corporation, dated May 11, 2000 (incorporated by reference
        to Exhibit 2.1 of the Form 8-K12g-3 filed on May 16, 2000).

2.2     Stock Purchase Agreement between the Company, Isotec,
        Incorporated, and selling shareholders, dated February 22,
        2000 (incorporated by reference to Exhibit 2.2 of the Form
        10-QSB filed on May 21, 2001).

2.3     Share Exchange Agreement between the Company and World Am
        Security Venture Company, Ltd., dated May 18, 2004
        (incorporated by reference to Exhibit 2 of the Form 8-K
        filed on May 26, 2004).

3.1     Articles of Incorporation, dated July 5, 2002 (incorporated
        by reference to Exhibit 3.1 of the Form 10-QSB/A filed on
        February 5, 2004).

3.2     Certificate of Amendment to Articles of Incorporation, dated
        August 20, 2002 (incorporated by reference to Exhibit 3.2 of
        the Form 10-QSB/A filed on February 5, 2004).

3.3     Certificate of Amendment to Articles of Incorporation, dated
        December 20, 2002 (incorporated by reference to Exhibit 3.3
        of the Form 10-QSB/A filed on February 5, 2004).

3.4     Certificate of Amendment to Articles of Incorporation, dated
        August 2, 2004 (incorporated by reference to Exhibit 3.4 of
        the Form 10-QSB filed on August 20, 2004).

3.5     Certificate of Amendment of Articles of Incorporation, dated
        November 8, 2004 (incorporated by reference to Exhibit 3.1
        of the Form 8-K filed on November 16, 2004).

3.6     Certificate of Amendment of Articles of Incorporation, dated
        November 8, 2004 (incorporated by reference to Exhibit 3.2
        of the Form 8-K filed on November 16, 2004).

3.7     Bylaws, dated May 15, 2000 (incorporated by reference to
        Exhibit 3.2 of the Form 8-K12g-3 filed on May 16, 2000).

4.1     Employee Stock Incentive Plan, dated January 22, 2001
        (incorporated by reference to Exhibit 4.1 of the Form S-8
        filed on January 29, 2001).

4.2     Non-Employee Directors and Consultants Retainer Stock Plan,
        dated January 5, 2001 (incorporated by reference to Exhibit
        4.2 of the Form S-8 filed on January 29, 2001).

4.3     Common Stock Purchase Agreement between the Company and Four
        Way Associates, Inc., dated June 1, 2001 (incorporated by
        reference to Exhibit 4.3 of the Form SB-2 filed on August
        28, 2001).

4.4     Amended and Restated Employee Stock Incentive Plan, dated
        November 20, 2001 (incorporated by reference to Exhibit 4.1
        of the Form S-8 POS filed on January 31, 2002).

4.5     Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan, dated November 20, 2001 (incorporated
        by reference to Exhibit 4.2 of the Form S-8 POS filed on
        January 31, 2002).

4.6     2002 Non-Employee Directors and Consultants Retainer Stock
        Plan, dated September 12, 2002 (incorporated by reference to
        Exhibit 4 of the Form S-8 filed on September 18, 2002).

4.7     2002 Stock Compensation Plan, dated December 16, 2002
        (incorporated by reference to Exhibit 4 of the Form S-8
        filed on December 23, 2002)

4.8     2003 Consultants Stock Compensation Plan dated August 19,
        2003 (incorporated by reference to Exhibit 4 of the Form S-8
        filed on August 22, 2003).

4.9     2003  Non-Qualified  Stock  Option  Plan, dated September
        29, 2003  (incorporated by reference to Exhibit 4 of the
        Form S-8 filed on October 1, 2003).

4.10    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 2), dated February 10,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on February 13, 2004).

4.11    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 3), dated June 1, 2004
        (incorporated by reference to Exhibit 4 of the Form S-8 POS
        filed on June 10, 2004).

4.12    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 2), dated July 15, 2004 (incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on August
        6, 2004).

4.13    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 4), dated October 12,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on October 19, 2004).

4.14    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 5), dated December 1,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on December 13, 2004).

4.15    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 3), dated October 17, 2005 (incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on December
        6, 2005).

4.16    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 6), dated December 22,
        2005 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on January 6, 2006).

4.17    Securities Purchase Agreement between the Company and Golden
        Gate Investors, Inc., dated January 23, 2006 (incorporated
        by reference to Exhibit 4.1 of the Form 8-K filed on
        February 10, 2006).

4.18    6 3/4% Convertible Debenture issued to Golden Gate Investors,
        Inc., dated January 23, 2006 (incorporated by reference to
        Exhibit 4.2 of the Form 8-K filed on February 10, 2006).

4.19    Warrant to Purchase Common Stock (due January 6, 2009)
        issued to Golden Gate Investors, Inc., dated January 23,
        2006 (incorporated by reference to Exhibit 4.3 of the Form
        8-K filed on February 10, 2006).

4.20    Warrant to Purchase Common Stock (due January 6, 2011)
        issued to Golden Gate Investors, Inc., dated January 23,
        2006 (incorporated by reference to Exhibit 4.4 of the Form
        8-K filed on February 10, 2006).

4.21    Registration Rights Agreement between the Company and Golden
        Gate Investors, Inc., dated January 23, 2006 (incorporated
        by reference to Exhibit 4.5 of the Form 8-K filed on
        February 10, 2006).

4.22    Addendum to Convertible Debenture and Warrant To Purchase
        Common Stock, dated February 7, 2006 (incorporated by
        reference to Exhibit 4.6 of the Form 8-K filed on February 10, 2006).

4.23    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 4), dated February 7, 2006 incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on February 14, 2006).

10.1    Employment Agreement between the Company and James
        Alexander, dated February 20, 2002 (incorporated by
        reference to Exhibit 10.4 of the Form 10-QSB filed on May
        14, 2002).

10.2    Amendment A to Employment Agreement between the Company and
        James Alexander, dated as of February 20, 2002 (incorporated
        by reference to Exhibit 10.1 of the Form 10-KSB filed on
        April 11, 2003).

10.3    Amendment B to Employment Agreement between the Company and
        James Alexander, dated January 15, 2004 (incorporated by
        reference to Exhibit 10.3 of the Form 10-KSB fled on April
        20, 2004).

10.4    Share Exchange Agreement between the Company, on the one
        hand, and Senz-It, Inc. and the shareholder of Senz-It, on
        the other hand, dated June 10, 2005 (including the
        following: Exhibit A: Shares to be Issued; Exhibit B:
        Warrant; Exhibit C: Series B Preferred Stock Certificate of
        Designation; and Exhibit I: Funding Schedule) (not including
        the following: Exhibit D: World Am, Inc. Officer's
        Certificate; Exhibit E: Senz It, Inc. Officer's Certificate;
        Exhibit F: Senz It Financial Statements; Exhibit G: Senz It
        Contracts; Exhibit H: World Am Contracts; Exhibit J: Form 8-
        K; Exhibit K: Press Release; Schedule 5.7: Taxes; and
        Schedule 5.9: Legal Proceedings) (incorporated by reference
        to Exhibit 10.1 of the Form 8-K/A filed on September 7, 2005).

10.5    Promissory Note issued by the Company in favor of Torrey
        Peaks Ventures, dated June 13, 2005 (incorporated by
        reference to Exhibit 10.1 of the Form 8-K filed on March 21, 2006).

10.6    Amendment "A" to Promissory Note, dated July 14, 2005
        (incorporated by reference to Exhibit 10.2 of the Form 8-K
        filed on March 21, 2006).

10.7    First Amendment to Share Exchange Agreement between the
        Company, on the one hand, and Senz-It, Inc. and the
        shareholder of Senz-It, on the other hand, dated August 31,
        2005 (incorporated by reference to Exhibit 10.2 of the Form
        8-K/A filed on September 7, 2005).

10.8    Option to Exclusive License Agreement between Senz-It Inc.
        and The Research Foundation of State University of New York,
        dated June 20, 2005 (incorporated by reference to Exhibit
        10.3 of the Form 8-K/A filed on September 7, 2005).

10.9    Venture Acceleration Agreement between Senz-It, Inc. and
        Select University Technologies, Inc., dated June 20, 2005
        (incorporated by reference to Exhibit 10.4 of the Form 8-K/A
        filed on November 28, 2005).

10.10   Demand Promissory Note issued by the Company in favor of
        SUTI Holdings, LP, dated May 18, 2006 (incorporated by
        reference to Exhibit 10.10 of the Form 10-KSB filed on
        May 22, 2006).

14      Code of Business Conduct and Ethics, adopted by the
        Company's board of directors (incorporated by reference to
        Exhibit 14 of the Form 10-KSB filed on April 20, 2004).

16      Letter on Change in Certifying Accountant (incorporated by
        reference to Exhibit 16 of the Form 8-K/A filed on July 12, 2004).

21      Subsidiaries of the Company (incorporated by reference to
        Exhibit 21 of the Form 10-KSB filed on April 16, 2002).

23      Consent of Independent Registered Public Accounting Firm
        (incorporated by reference to Exhibit 23 of the Form 10-KSB filed
        on May 22, 2006).

31.1    Rule 13a-14(a)/15d-14(a) Certification of Robert A. Hovee
        (filed herewith).

31.2    Rule 13a-14(a)/15d-14(a) Certification of David J. Barnes
        (filed herewith).

32      Section 1350 Certification of Robert A. Hovee and David J.
        Barnes (filed herewith).

99.1    Confirmation of Provisional Patent Application, dated
        September 2, 2004 (incorporated by reference to Exhibit 99.3
        of the Form 10-KSB filed on April 21, 2005).

99.2    Confirmation of Provisional Patent Application, dated
        September 2, 2004 (incorporated by reference to Exhibit 99.4
        of the Form 10-KSB filed on April 21, 2005).

99.3    Press release issued by the Company, dated June 13, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on June 16, 2005).

99.4    Press Release issued by the Company, dated August 9, 2005
        (incorporated by reference to Exhibit 99.2 of the Form 8-K/A
        filed on September 7, 2005).

99.5    Press Release issued by the Company, dated September 7, 2005
        (incorporated by reference to Exhibit 99.3 of the Form 8-K/A
        filed on September 7, 2005).

99.6    Press Release issued by the Company, dated November 7, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on November 14, 2005).

99.7    Press Release issued by the Company, dated November 14, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on November 16, 2005).

99.8    Press Release issued by the Company, dated February 21, 2006
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on March 2, 2006).