UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-KSB (Mark One) x Annual report under
Section 13 or 15(d) of the securities exchange act of 1934 for the fiscal year
ended September 30, 2007.  ̈Transition report under Section 13 or 15(d) of the securities exchange act of
1934 DELTRON, INC.(Exact name of small business issuer in its charter) Nevada
333-130197
86-1147933(State or other jurisdiction of
(Commission File Number)
(IRS Employer Identification
No.)incorporation or organization) Sabana Oeste, Restaurante Princessa
Marina, 200 Metros Oeste y 100 mts Norte, Portón
Verde, Frente SBC Computadoras, San Jose, Republica de Costa Rica(Address of principal executive offices) Issuers telephone
number: 011-506-853-2239 Securities registered under Section 12(b) of
the Exchange Act: None.  Securities registered under Section 12(g) of
the Exchange Act: None.  Check whether the
issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the
Exchange Act during the past 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. xYes ̈ No Check if there is no
disclosure of delinquent filers in response to Item 405 or Regulation S-B is not
contained in this form, and no disclosure will be contained, to the best of
registrants knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB x Indicate by check mark whether the registrant is a shell company
(Rule 12b-2 of the Exchange Act)     x Yes ̈ No State issuers
revenues for its most recent fiscal year: $0.00 State the aggregate
market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was sold, or the
average bid and asked price of such common equity, as of a specified date within
the past 60 days.  As of December 1, 2007, there were 3,745,000 issued
and outstanding shares of our common stock, par value $0.001 per share, held by
non-affiliates.  The aggregate value of the securities held by
non-affiliates on December 1, 2007 was $0.00 as our common stock does not
presently trade. State the number of
shares outstanding of each of the issuers classes of common equity, as of the
latest practicable date.As of December 1, 2007, the issuer had 5,545,000
shares of common stock issued and outstanding. Transitional Small Business Disclosure Format (Check
one):  Yes ___; No _X_       DOCUMENTS
INCORPORATED BY REFERENCE  TABLE OF CONTENTS  PART I Item
1. Description
of Business.  3 Item
2. Description
of Property. 8 Item
3. Legal
Proceedings. 9 Item
4. Submission
of Matters to a Vote of Securities Holders. 9  PART II Item
5. Market
for Common Equity, Related Stockholder Matters. 9 And
Small Business Issuer Purchases of Equity Securities.  Item
6. Managements
Discussion and Analysis or Plan of Operation 10 Item
7. Financial
Statements. 17 Item
8. Changes
in and Disagreements with Accountants on Accounting
and Financial Disclosure. 30 Item
8A. Controls
and Procedures. 30 Item
8B Other
Information. 30  PART III Item
9. Directors,
Executive Officers, Promoters, Control Persons and Corporate
Governance; Compliance with Section 16(a) of the Exchange
Act. 30 Item
10. Executive
Compensation. 32 Item
11. Security
Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters. 34 Item
12. Certain
Relationships and Related Transactions, and Director Independence. 35 Item
13. Exhibits. 36 Item
14. Principal
Accountant Fees and Services. 37  Signatures 38              CAUTIONARY
STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Except for
historical information, this report contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934.  Such
forward-looking statements involve risks and uncertainties, including, among
other things, statements regarding our business strategy, future revenues and
anticipated costs and expenses.  Such forward-looking statements include,
among others, those statements including the words expect, anticipate,
intend, believe and similar language.  Our actual results may differ
significantly from those projected in the forward-looking statements.
 Factors that might cause or contribute to such differences include, but
are not limited to, those discussed in the sections Plan of Operation and
Business.  You are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date of this report.
 We undertake no obligation to publicly release any revisions to the
forward-looking statements or reflect events or circumstances taking place after
the date of this document.  PART I  ITEM 1.  DESCRIPTION OF BUSINESS  General Information  Deltron, Inc. was incorporated in the State of Nevada on
September 14, 2005.  We were formed as a land development companythat intends to construct rental housing units in
Costa Rica.  In March of 2006, Deltron, Inc. purchased a property in San
Isidro de Heredia, Costa Rica, which we intend to develop.  We raised
$74,900 from our recent public offering, and with this money we intend to
finance the construction of two rental units on this property.  Deltrons
principal place of business and corporate offices are located at Sabana Oeste,
Restuarante Princessa Marina, 200 Metros Oeste, 100 Norte, Porton Verde, Frente
SBC Computadoras, San Jose, Republic of Costa Rica, telephone number (011)
506-290-4886.  The office space is a 3,000 square foot shared-office
building in which Deltron has use of a 150 square foot office. Our fiscal year
end is September 30.  As of September 30, 2007 we had generated no revenues.
 We have been issued an opinion by our auditor that raises substantial
doubt about our ability to continue as a going concern based on our current
financial position, please refer to note 1 of our financial statements.  We have a total of 100,000,000 authorized common shares
with a par value of $0.001 per share and 5,545,000 common shares issued and
outstanding as of September 30, 2007.  We completed a form SB-2 Registration Statement under the
Securities Act of 1933 registering 7,500,000 shares (minimum of 3,000,000) of
our common stock in connection with an offering of the 7,500,000 shares at a
price of $0.02 per share. As of September 30, 2007, we had partially completed
the offering and raised a total of $74,900 on the issuance of the 3,745,000
shares.  We closed the offering on September 7, 2006.  Business Development  Deltron, Inc. has no revenues and limited operations.
 We have sustained losses since inception, September 14, 2005, to September
30, 2007, of $58,765, and rely solely upon the sale of securities and loans from
our corporate officers and directors for funding.  Deltron, Inc. incorporated Deltron Holdings Corporation
S.A. Deltron S.A.) on November 17th, 2005 in San Jose, Costa Rica,
a company in which Deltron, Inc. owns 100% of the shares.   Deltron
S.A. was used to purchase the property that we currently have available for our
development plans.  Deltron has never declared bankruptcy, been in
receivership, or involved in any kind of legal proceeding. Deltron, its
directors, officers, affiliates and promoters have not and do not intend to
enter into negotiations or discussions with representatives or owners of any
other businesses or companies regarding the possibility of an acquisition or
merger.  Principal Products, Services and Their Markets  Deltron is a land development companythat intends to construct rental housing in Costa
Rica.  We will accomplish this goal by developing a total of two (2),
three-bedroom apartments.  We will construct the apartments on a property
that we currently own in San Isidro de Heredia, Costa Rica. On completion of the
construction phase, we will offer these apartments for rent to the public via
word of mouth and classified advertising.  The property we purchased, and the apartments that we
intend to construct, will be owned by Deltron S.A., a company incorporated in
San Jose, Costa Rica, on November 17th 2005,  the shares of
which are 100% owned by Deltron, Inc.  Upon the closing of our most recent
offering on September 9, 2006,, we had raised a total of $74,900 from the sale
of 3,745,000 common shares, or approximately 50% of the offering.  In
accordance with our prospectus dated June 16, 2006, we believed this would
enable us to build 2 apartments and rent them to the public.  However, we were required to suspend the construction of
the two apartments/housing units due to lack of funds, as the cost of
construction has significantly increased since our original estimate in 2005.
 This is in large part due to the increase in the price of construction
materials, as well as a major increase in the cost of labor due to the current
construction boom in Costa Rica and the resulting labor shortage.  Presently, our primary focus is to raise sufficient
funding in order that we may construct a minimum of two (2) three-bedroom
apartments with the goal of renting them to middle-income families in order to
generate revenue.     Provided that we are able to raise
additional funding, we anticipate that construction will take approximately 5
months.  Since we are not sure when or if we are able to raise such funds,
at this time we do not know when we can expect to generate any revenues from
housing rentals, if at all.  If we are ultimately successful in raising the funding
and completing the constriction, The final product will be competitive in both
quality and affordability when compared to similar housing offered by our
competitors.  However, we intend to distinguish our rental units from the
competition by providing features not found in many Costa Rican rental
properties, such as secured entry, hot water, modern fixtures, internet, cable,
and telephone access.  Deltron will provide ongoing maintenance of the
properties and apartments on a regular basis, and we will make any repairs as
needed, and all tenants will have twenty-four hour telephone access to a
property caretaker in case of emergency.  Competitive Business Conditions and Strategy;
Deltrons Position in the Industry  Deltron intends to establish itself as a competitive
company in an already existing market.  Currently, there are many other
corporate and private entities that offer rental housing in Costa Rica.
 Most of these rental properties are offered for lease by word of mouth or
classified advertising.  The companys founder and President, Mr. Phillips, a
direct marketing consultant, has lived in Costa Rica for three of the past seven
years, and together with Hilda Rivera,a
director of the company and Costa Rican land developer, has found that there is
a high demand among the target market for quality rental housing of the kind
that Deltron intends to offer, particularly those that have access to modern
features such as hot water, internet, cablevision, and are located near public
transportation, schools and shopping.  Our strategic approach is to offer middle-class housing
to lower middle-income families.  Part of this will be achieved by
constructing apartments with a small frontage area and walkway, as well as a
privately enclosed back yard.  The Company also believes that because the housing will
be new and contain modern features, it will be more desirable to prospective
tenants than many of the options offered by our competitors. Manicured garden areas, hot water,
cable, internet and telephone access are not common features found many
lower-middle income housing units in Costa Rica, and we contend that this will
help to set us apart from the competition.  Important to our business strategy is to find tenant
families for each of the apartments consisting of two employed adults with good
standing credit histories and previous rental references.  We believe that
the kind of rental housing we intend to offer will create high market demand and
enable us to be selective in finding tenants whom are able to pay the rent.  The apartments will be promoted and advertised in the
classified section of local newspapers and by word of mouth.  We will also
place a large sign on the front of the property.  To date, we have not entered into any negotiations with
realtors who specialize in matching landlords with tenants, but this will be an
available option to Deltron should we decide that it is a necessary or desired
means of finding tenants.  Sales and Distribution Methods  When and if contracted, we will offer the apartments for
rent via word of mouth and classified newspaper advertisement on terms of
renewable one-year lease agreements.  We will also require a one-month
damage deposit from the tenant, which will be refunded at the end of the lease
agreement  provided that there is no damage to the apartment other than normal
wear and tear, or because of circumstances beyond the tenants control.  The tenant will be responsible for paying the
electricity, cable, internet, telephone and water bills directly to the
providers.  The rental agreements between Deltron and the tenants
will be written and executed by a Costa Rican attorney.  Sources and Availability of Products  Construction companies and building materials are
plentiful in Costa Rica and the market places for each of these products and
services are highly competitive.   The success of Deltrons business
plan relies heavily on finding a general contractor with whom we can negotiate
to construct the apartments on schedule and within budget. Deltron, Inc will
begin looking to hire a construction company to build the apartment units once
we have received sufficient funding.  At this time, we have not entered
into any agreements with any construction firm.  Dependence on one or a few major customers  Deltrons business plan is dependent upon finding tenants
who will rent our apartments and make the monthly payments.  As such, we
intend to rent each of the apartments to families that consist of at least two
working adults with credit histories and references which we can verify are in
good standing.  Housing is a major need and commitment for a family, and
we do not anticipate much difficulty in collecting the monthly payments from the
tenants.  Patents and Trademarks  There are no aspects of our business plan which require a
patent, trademark, or product license.  We have not entered into any vendor
agreements or contracts that give or could give rise to any obligations or
concessions.  Government and Industry Regulation  In Costa Rica, there are numerous government controls in
place with reference to housing construction, all of which revolve around the
specifications of the architectural plans.  In order to proceed with the construction phase of our
business plan, we are required by law to submit the architectural plans for our
project to the municipality for approval before being granted a construction
permit.   The plans must be approved by a licensed architect or civil
engineer who is a member of the College of Engineers and Architects of Costa
Rica.  A complete set of plans includes a design plan, site
plan, distribution plan, elevation and transversal and longitude perspectives,
roof design and drainage, design of footings and support beams, structural
plans, electrical design, mechanical and sanitary system design, as well as a
plan that details the constructions interior finish.  We have hired the services of Tropical Design Group S.A.,
an architectural firm, who has completed the design and aforementioned plans for
two rental units to be built on the site owned by Deltron.  Eventually,
those plans will need to be presented to the City of San Isidro de Heredia for
approval and issuance of the building permits once we are ready to enter into
the construction phase of our business plan.  Research and Development Activities and
Costs  Deltron has spent no time in the last two fiscal years on
specialized research and development activities, and has no plans to undertake
any research or development in the future.  Compliance with Environmental Laws  The property which we intend to build the two apartment
units has been zoned for residential housing, and there are no special
environmental laws for building apartments on a property in Costa Rica which is
zoned for residential housing. Subcontractors At this time we are not in any
negotiations to hire the services of any subcontractor(s). In the future, when we are ready
to commence with the construction phase of our business plan, we will hire a
construction firm who will be directly responsible for the hiring and
supervision of any required subcontractors. Employees and Employment
Agreements At present, we have no full-time
employees. Our one officer and two directors are part-time employees and each
will devote up to approximately 20 hours per week of their time to our
operation. Our officers and directors do not have employment agreements with us.
We presently do not have pension, health, annuity, insurance, stock options,
profit sharing or similar benefit plans; however, we may adopt plans in the
future. There are presently no personal benefits available to our officers and
directors. Our officers and directors will handle our administrative duties.
Because our officers and directors are inexperienced with construction, they
will hire a qualified person for the, development of the property who will also
supervise the hiring of the labour for the construction. Risks associated with DELTRON, INC.  We are a start-up company with a lack of operating
history and profitability.  Deltron has incurred losses since inception and
we expect those losses to continue in the future.  As a result, we may have
to suspend or cease operations.  We were incorporated on September 14th,
2005,and we have not started our proposed
business operations or realized any revenues.  We have no operating history
upon which an evaluation of our future success or failure can be made.  As
a result, it is possible that we may not generate revenues in the future.
 We have incurred a net loss of $58,765 since inception to September 30,
2007, and in order to generate revenue we are dependent on:  · Our ability to finance and construct
our rental units · Our ability to find tenants who will
rent the apartments in order to generate revenues  Based upon current plans, we expect to incur operating
losses in future periods.  This will happen because the maximum possible
revenues we can generate from the business will not be sufficient enough to
cover the expenses associated with operating the company.  As such, we may
not be able to generate enough future revenues to cover our expenses, which
could cause us to suspend or cease operations.  Because Deltron is a small company, and does not
have much capital, if we are unable to raise additional funds to meet our needs
we may have to scale back operations which could result in a loss of your
investment.  Because we are a small company with limited financial
resources, we are limited in our ability to successfully implement our business
plan, and we may not be able to build and rent as many apartments as we would
like.  In that case, we would have to raise more capital in order for the
business to be successful.  If we cannot build and rent enough apartments, then we
would be unable to generate the revenues required in order to maintain our
business and this could result in a loss of your investment.  Because Mr. Phillips has other outside business
activities, he will only be able to dedicate a limited amount of his time to
Deltrons operations.  This could result in periodic interruptions or
suspensions of the business plan.  Because our Company presidenthas other outside business interests, he will
only be able to devote a limited amount of his time to our operations.
 Deltron operations may occur at times which are inconvenient to Mr.
Phillips, which could result in the development of our plan being periodically
interrupted or suspended.  Because Deltrons Operations and Assets are
concentrated in Costa Rica and not in the United States, we are subject to the
risks associated with currency fluctuations.  Deltron will be subject to fluctuations in the exchange
rates between the U.S. dollar and the Costa Rican Colone.  The funds being
raised for this prospectus are in U.S. dollars and will be placed in a U.S.
dollar account. However, any fluctuation in currency value between the U.S.
dollar and Costa Rican Colone could cause an increase in overall expenses that
would exceed the achievable revenues.   If that were the case, Deltron
would have to cease or suspend operations.  If our officers and directors resign or die without
having found replacements, our operations will be suspended or cease altogether.
Should that occur, you could lose your investment.  We have 1officer and
2directors and we are entirely dependent
upon them in order to conduct our operations.  If they should resign or
die, there will be no one to run Deltron.  The Company has no key-man
insurance.  If such an event were to take place and we were unable to find
other persons to run us, our operations would be suspended or cease entirely,
and this would result in the loss of your investment.  Our business plan requires us to hire an
independent contractor to build the apartments.  If we hire a contractor
who fails to build the apartments on schedule, within budget, or within the
government building code, we may have to cease operations and you could lose
your investment.  Because no one on our management team is trained in
construction, we will have to hire a general contractor to build the apartments.
 Unlike the United States, there is very little regulation governing
construction companies or general contractors in Costa Rica, and no
qualifications are required in order to own or operate a construction business.
 So, it is vital that we hire an experienced construction company with a
proven track record.  Also, Costa Rica is a country where construction problems
are rampant. The industry is notorious for its inability to complete projects on
schedule, budget, or in compliance with the required government building codes.  Furthermore, it can take many years in Costa Rica to
resolve any dispute in the courts.  So, should we desire to sue the
construction company because they did not meet their contractual agreements
and/or obligations, we may have to cease operations and you could lose your
investment.  Our shares are defined as penny stock, the rules
imposed on the sale of the shares may affect your ability to resell any shares,
if at all.  Our shares are defined as a penny stock under the
Securities and Exchange Act of 1934, and rules of the Commission.  The
Exchange Act and such penny stock rules generally impose additional sales
practice and disclosure requirements on broker-dealers who sell our securities
to persons other than certain accredited investors who are, generally,
institutions with assets in excess of $5,000,000 or individuals with net worth
in excess of $1,000,000 or annual income exceeding $200,000, or $300,000 jointly
with spouse, or in transactions not recommended by the broker-dealer.  For
transactions covered by the penny stock rules, a broker-dealer must make a
suitability determination for each purchaser and receive the purchaser's written
agreement prior to the sale.  In addition, the broker-dealer must make
certain mandated disclosures in penny stock transactions, including the actual
sale or purchase price and actual bid and offer quotations, the compensation to
be received by the broker-dealer and certain associated persons, and deliver
certain disclosures required by the Commission.  Consequently, the penny
stock rules may affect the ability of broker-dealers to make a market in or
trade our common stock and may also affect your ability to resell any shares you
may purchase in the public markets.  We will incur ongoing costs and expenses for SEC
reporting and compliance, without revenue we may not be able to remain in
compliance, making it difficult for investors to sell their shares, if at
all.  Our common stock is quoted on the OTC Electronic Bulletin
Board, under the symbol DTRO.  To be eligible for quotation on the OTCBB,
issuers must remain current in their filings with the SEC. Market Makers are not
permitted to begin quotation of a security whose issuer does not meet this
filing requirement. Securities already quoted on the OTCBB that become
delinquent in their required filings will be removed following a 30 or 60 day
grace period if they do not make their required filing during that time.
 In order for us to remain in compliance we will require future revenues to
cover the cost of these filings, which could comprise a substantial portion of
our available cash resources.  If we are unable to generate sufficient
revenues to remain in compliance it may be difficult for you to resell any
shares you may purchase, if at all.  Reports to Security Holders  The Company is not required to
provide annual reports to security holders. We are subject to the reporting
requirements of the Securities and Exchange Commission (SEC) and will file
reports including, but not limited to, Annual Reports of Form 10-KSB, Quarterly
Reports on Form 10-QSB, Current Reports on Form 8-K, and Proxy Statements on
Schedule 14. The public may read and copy any
materials we file with the SEC at the SECs Public Reference Room at 100 F
Street N.E., Washington, D.C. 20549.  The public may obtain information on
the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.
 The SEC maintains an Internet site that contains reports, proxy and
information statements, and other information regarding issuers that file
electronically with the SEC and the address of that site is www.sec.gov. ITEM 2.  DESCRIPTION OF PROPERTY.  Deltrons principal place of business and corporate
offices is located at Sabana Oeste, Restuarante Princessa Marina, 200 Metros
Oeste, 100 Norte, Porton Verde, Frente SBC Computadoras, San Jose, Republic of
Costa Rica, the telephone number is (011) 506-853-2239.  The office space
is a 3,000 square foot shared-office building in which Deltron has use of a 150
square foot office. We have no intention of finding office space to rent during
the development stage of the company and we will operate from these premises for
the time being.  Since we have been given access to office space free of
charge, no rental agreement in place and we are subject to eviction without
notice at any time.  Deltron currently owns a 592 square meter lot in San
Isidro de Heredia, Costa Rica.   This property was purchased for
$40,657.00 on March 29, 2006, from an un-affiliated third party, through our
wholly-owned subsidiary Deltron Holding Corporation S.A. The funds to purchase
the property were loaned to Deltron Holdings by Shawn Phillips, our president.
 The balance is non-interest bearing and there are no specific terms of
repayment.  When we have sufficient revenue to maintain operations, being
generated from the rental of the proposed housing units, the Board of Directors
will at that time address terms of repayment to Mr. Phillips.  In the event
our business plan fails and we are forced to sell the property, the loan would
be repaid from the proceeds of the sale.  Investment Policies  The Company plans to invest in certain real estate
properties in Costa Rica, pursuant to its business plan, for the building and
subsequent renting of apartments in Costa Rica.  The Company does not have
any limitations on the percentage of assets it may invest in real estate
holdings.  Acquisition of real estate will be done primarily for the
purpose of generating income for the Company.  The Company will primarily
seek undeveloped acreage in Costa Rica on which to build the apartments.
 There are no limitations on the number of mortgages the Company may have
on any given piece of real estate.  ITEM 3.  LEGAL PROCEEDINGS.  We are not a party to any
pending or, to our knowledge, threatened legal proceedings. ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF
SECURITIES HOLDERS.  No matter was submitted during
the fourth quarter of the fiscal year ended September 30, 2007, to a vote of
security holders, through the solicitation of proxies or otherwise. PART II  ITEM 5.  MARKET FOR COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND SMALL BUSINESS
ISSUER PURCHASES OF EQUITY SECURITIES  Market
Information Our common stock is quoted on
the OTC Bulletin Board under the symbol DTRO.OB.  However, our common
stock has not been traded since our inception.  Accordingly, there is no
present market for our securities. Any quotations on the OTC
Bulletin Board would reflect inter-dealer prices, without retail mark-up,
mark-down or commission and may not represent actual transactions. As of December 1, 2007, there
were 34 record holders of our common stock. Status of our public
offering On June 16, 2006, our Form SB-2
registration statement (SEC file no. 333-130197) was declared effective by the
SEC. From July,2006 to September 2006, we partially completed our
public offering by selling 3,745,000 shares of common stock to individuals in
consideration of $74,900.  We closed our offering on September 9th,
2006. Since completing our public offering, until September 30,
2007, we have used the proceeds as follows:  Architectural Plans Costs and Permits
$
12,514Property Tax, Insurance, &
Maintenance Costs
$
260Professional Fees
$
22,709Promotional Materials & Advertising
$
0Office and Miscellaneous Expenses
$
600Cash on Hand
$
38,817Totals
$
74,900  Dividends We have never declared any cash
dividends with respect to our common stock.  Future payment of dividends is
within the discretion of our board of directors and will depend on our earnings,
capital requirements, financial condition and other relevant factors.
 Although there are no material restrictions limiting, or that are likely
to limit, our ability to pay dividends on our common stock, we presently intend
to retain future earnings, if any, for use in our business and have no present
intention to pay cash dividends on our common stock. There are no restrictions in our
articles of incorporation or bylaws that prevent us from declaring dividends.
 The Nevada Revised Statutes, however, do prohibit us from declaring
dividends where, after giving effect to the distribution of the dividend: 1. We would not
be able to pay our debts as they become due in the usual course of business;
or 2. Our total
assets would be less than the sum of our total liabilities plus the amount that
would be needed to satisfy the rights of shareholders who have preferential
rights superior to those receiving the distribution. Equity Compensation Plan
Information We have no authorized equity
compensation plans and no outstanding options, warrants or similar rights. Recent Sales of
Unregistered Securities None. Purchases of Equity
Securities by the Issuer and Affiliated Purchasers We did not purchase any of our
shares of common stock or other securities during the year ended September 30,
2007. ITEM 6.  PLAN OF OPERATION  Results of Operations  We are a
development stage corporation.  We have generated no revenues from our
business operations since inception and have incurred $91,660 in expenses
through September 30, 2007. The following table provides
selected financial data about our company for the fiscal year ended September
30, 2007 and 2006, respectively. Balance
Sheet Data September
30, 2007 September 30, 2006 Cash and
cash equivalents $ 38,816 $ 61,331 Total
assets $ 91,987 $ 111,908 Total
liabilities $ 44,852 $ 48,605 Shareholders
equity $ 47,135 $ 63,303  Our cash in the bank at
September 30, 2007 was $38,816.  Net cash provided by financing activities
since inception through September 30, 2007 was $148,165, consisting of $105,900
raised from the sale of our common stock and $42,265 advanced from an officer
and director. Our auditors have issued an
opinion that there is a substantial doubt that we can continue as an on-going
business for the next 12 months. Plan of Operation The following plan of operation
should be read in conjunction with our financial statements and the notes
thereto included elsewhere in this report.  Statements contained herein
which are not historical facts are forward-looking statements, as that term is
defined by the Private Securities Litigation Reform Act of 1995, including
statements relating to our plans, objectives, expectations and intentions.
 Although we believe that the expectations reflected in such
forward-looking statements are reasonable, forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ
from those projected.  We caution investors that any forward-looking
statements made by us are not guarantees of future performance and that actual
results may differ materially from those in the forward-looking statements.
 Such risks and uncertainties include, without limitation: established
competitors who have substantially greater financial resources and operating
histories, regulatory delays or denials, ability to compete as a start-up
company in a highly competitive market, and access to sources of capital. We are a start-up, development stage corporation and have
not yet generated or realized any revenues from our business operations.
 Our plan is to build housing in Costa Rica and market the units for rent
to local residents via classified newspaper advertising and word of mouth.  In its report on our September
30, 2007 audited financial statements, our auditors expressed an opinion that
there is substantial doubt about our availability to continue as a going
concern.  See Note 1.  Our financial statements do not include any
adjustments that may result from the outcome of this uncertainty.  We have
been in the development stage and have had no revenues since inception.
 For the period from September 14, 2005 (inception) to September 30, 2007,
we recorded a net loss of $58,765.  Our continuation as a going concern is
dependent on future events, including our ability to raise additional capital
and to general positive cash flows. Accordingly, we must raise
sufficient capital from sources other than from the rental sales. Our only other
source for cash at this time is investments by others. We must raise cash to
implement our project and stay in business. We raised $74,900 from our public
offering. Under this offering we sold 3,745,000 common shares at $0.02 per share
to independent shareholders, thus we have a total of 5,545,000 shares issued and
outstanding. As of September 30, 2007, we had cash on hand of $38,816. This
probably will not enable us to fund operations for the next twelve months, and
we will have to rely on additional loans from our directors, a second public
offering, or a private placement of securities. We have used the above-mentioned
funds to start to develop our property located in San Jose, Costa Rica by hiring
an architect who has completed the architectural plans for the two units that we
intend to build on our property and eventually rent to the public. However, at this time, Deltron,
Inc and its wholly owned subsidiary, Deltron Holding Corporation SA, has
cancelled its contract with the architects, Tropical Design Group, and suspended
negotiations with the construction firm, Trim Studios SA, in March of 2007
because of the increase in the cost of building materials and our lack of funds. As such, the construction phase
of our plan has been placed on hold until we are able to raise additional funds
in order to complete construction.   If we are unable to complete the
construction phase of our plan because of lack of funding, we will cease
operations until we raise more money. If we cannot or do not raise more money,
we will be forced to cease operations entirely. We have no plans or expectations
to acquire or sell any plant or significant equipment during the next 12 months
of operations, and do not intend to hire any employees at this time. The development target for
Deltron, Inc is to construct two rental units on our property in San Isidro de
Heredia within the next 12 months of operations and to start generating revenues
in the last three months of 2008. However, our success depends on being able to
finance the construction of the units, which will require us to raise more funds
in order to complete. Management has discussed the
possibility of raising additional funds via additional loans from our directors
or the sale of additional securities in order to complete, but at this time no
firm decisions or commitments have been made in this regard. When and if we build the apartments, we will advertise
them for rent by way of classified newspaper advertising, word of mouth, and a
large billboard sign that we will erect on the front of the property.  We
feel that the location of the property, combined with classified newspaper
advertising and a billboard signplaced on
the front of the lot will be an important part to the success of our business
development, acting as an effective way to introduce Deltron and its product to
the public.  Our advertising will focus on reasonably priced rental housing
in a desirable area.  Special emphasis will be placed on the modern
features that come with each apartment including hot water, cable access,
internet, and telephone access.  In order for us to sustain our cash flow requirements
over the next twelve months we will most likely require additional outside
funding, like a second public offering, a private placement of securities, or
loans from our officers or others.  Equity financing could result in
additional dilution to existing shareholders.  If we are unable to meet our needs for cash, then we may
be unable to continue, develop, or expand our operations. The development program for 2006
and 2007 consisted of purchasing a property for the construction of our rental
units and hiring an architect to design two apartments.  The architectural
designs have been completed and have been approved by the College of Architects
and Engineers of Costa Rica (a requirement before plans can be submitted to the
city engineering department for approval and issuance of the construction
permits) and we have received the construction permits from the city of San
Isidro de Heredia.  These construction permits will most likely expire
before we have begun any construction, as we have suspended negotiations with
any construction firms due to the increase in the cost of building and the
construction permits are set to expire in December of 2007.  As such, if we
are able to raise enough funds to proceed with the construction phase of our
business plan, we will need to apply to the city of San Isidro de Heredia again
for the construction permits. If we are unable to complete any
phase of construction because we do not have enough money, we will cease
operations until we raise more money. If we cannot or do not raise more money,
we will be forced to cease operations. If we cease operations, we do not know
what we will do and we do not have any plans to do anything. Any construction
done on the property over the course of the next 12 months would be conducted by
unaffiliated independent contractors that would be hired by Deltron Holding
Corporation S.A. and/or Deltron, Inc. The independent contractors will be
responsible for the construction, contracting tradesmen and sub-contractors, as
well as the hiring and supervision of the labor required for the
construction. Limited Operating History;
Need for Additional Capital There is no historical financial information about us
upon which to base an evaluation of our performance. We are a development stage
corporation and have not generated any revenues from operations. We cannot
guarantee we will be successful in our business operations. Our business is
subject to risks inherent in the establishment of a new business enterprise,
including limited capital resources, possible delays in the development of our
property, and possible cost overruns due to price and cost increases in services
and supplies.  To become profitable and competitive, we will need to
complete the construction of the apartments and find tenants to rent our units
and generate revenues from rental income.  We believe that the funds raised
from our public offering may not be sufficient enough for us to operate for the
next 12 months, and that we will need to raise more funds in order to continue
our business.  We have no assurance that future financing will be
available to us on acceptable terms. If financing is not available on
satisfactory terms, we may be unable to continue, develop or expand our
operations. Equity financing could result in additional dilution to existing
shareholders.  Currently, we have no financing plans.  Liquidity and Capital Resources  To meet our need for cash we raised $74,900 from our
public offering.  It now appears that we have not raised enough money
through the public offering in order to stay in business. The money we have
raised has been and will be applied to the items set forth in the Use of
Proceeds section of our Prospectus filed with the SEC and as explained
throughout this 10-KSB. However, there is a high probability that we will run
out of money before the construction of the two rental units we intend to build
is complete.  If that is the case, we will attempt to raise additional
money by way of loans from officers of the company, and/or sale of additional
securities.  Additional equity financing would result in additional
dilution to our existing shareholders.  We have discussed this matter with our officers and
directors and Mr. Phillips has agreed to advance funds as needed. However, there
is no written agreement with Mr. Phillips to this affect. The agreement is
entirely oral. Mr. Phillips has advanced $42,265 to date. At the present time,
we have not made any arrangements to raise additional cash. If we need
additional cash and cannot raise it, we will either have to suspend operations
until we do raise the cash, or cease operations entirely. The funds raised in
our public offering, together with the loans advanced, will probably not allow
the company to operate for the next 12 months. Other than as described in this
paragraph, we have no other financing plans.  Since inception of the Company on September 14, 2005, to
September 30, 2007, the Company has issued 5,545,000 common shares at $0.01 and
$0.02 per share for total proceeds of $105,900. This was accounted for as an
acquisition of shares.  We received a $42,265 loan from Mr. Phillips, our
President.  This amount owed to Mr. Phillips is non-interest bearing,
unsecured, and due on demand.  As of the date of this filing, we have yet to begin
operations and therefore have not generated any revenues.  As of September 30, 2007, our total assets were $91,987
and our total liabilities were $44,852.  Summary
of Significant Accounting Policies  Going
Concern and Liquidity Considerations  The
accompanying audited consolidated financial statements have been prepared
assuming that the Company will continue as a going concern, which contemplates,
among other things, the realization of assets and satisfaction of liabilities in
the normal course of business.  As at September 30, 2007, the Company had a
working capital deficiency of $6,036 and an accumulated deficit of $58,765.
 The Company intends to fund operations through equity financing
arrangements, which may be insufficient to fund its capital expenditures,
working capital and other cash requirements for the year ending September 30,
2008.  The ability
of the Company to emerge from the development stage is dependent upon, among
other things, obtaining additional financing to continue operations, and
development of its business plan.  In response
to these problems, management intends to raise additional funds through public
or private placement offerings.  These
factors, among others, raise substantial doubt about the Companys ability to
continue as a going concern.  The accompanying audited consolidated
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.  Basis of
Consolidation  These
consolidated financial statements presented are those of the Company and its
wholly-owned subsidiary, Deltron Holdings Corporation S.A.  All
intercompany balances and transactions have been eliminated.  Basis of
Presentation  The accounting and
reporting policies of the Company conform to U.S. generally accepted accounting
principles (US GAAP) applicable to development stage companies.  Use of
Estimates  The
preparation of financial statements in conformity with United States generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amount of revenues and expenses during the reporting
period.  Actual results could differ from those estimates.  The
Companys periodic filings with the Securities and Exchange Commission include,
where applicable, disclosures of estimates, assumptions, uncertainties and
markets that could affect the financial statements and future operations of the
Company.  Cash and
Cash Equivalents  Cash and cash
equivalents include cash in banks, money market funds, and certificates of term
deposits with maturities of less than three months from date of purchase, which
are readily convertible to known amounts of cash and which, in the opinion of
management, are subject to an insignificant risk of loss in value.  Asset
Retirement Obligations  The Company
has adopted Statement of Financial Accounting Standards (SFAS) No. 143,
"Accounting for Asset Retirement Obligations".  SFAS No. 143
requires entities to record the fair value of a liability for an asset
retirement obligation in the period in which it is a cost by increasing the
carrying amount of the related long-lived asset.  Over time,
the liability is accreted to its present value, and the capitalized cost is
depreciated over the useful life of the related obligation for its recorded
amount or incurs a gain or loss upon settlement.  Fair Value
of Financial Instruments and Derivative Financial Instruments  The Company
has adopted Statement of Financial Accounting Standards (SFAS) Number 119,
Disclosure About Derivative Financial Instruments and Fair Value of
Financial Instruments.  The carrying amounts of cash and cash
equivalents, accounts payable and amount due to related party approximate their
fair values because of the short maturity of these items.  Certain fair
value estimates may be subject to and involve, uncertainties and matters of
significant judgment, and, therefore, cannot be determined with precision.
 Changes in assumptions could significantly affect these estimates.
 The Company does not hold or issue financial instruments for trading
purposes, nor does it utilize derivative instruments in the management of its
foreign exchange, commodity price or interest rate market risks.  Segment
Reporting  SFAS Number
131, Disclosure About Segments of an Enterprise and Related
Information, changed the way public companies report information about
segments of their business in their quarterly reports issued to shareholders.
 It also requires entity-wide disclosures about the products and services
an entity provides, the material countries in which it holds assets and reports
revenues and its major customers.  The Company presently operates only in
Costa Rica.  Income
Taxes  Deferred
income taxes are reported for timing differences between items of income or
expense reported in the financial statements and those reported for income tax
purposes in accordance with SFAS Number 109, Accounting for Income
Taxes, which requires the use of the asset/liability method of accounting
for income taxes.  Deferred income taxes and tax benefits are recognized
for the future tax consequences attributable to differences between the
financial statement carrying amounts of existing assets and liabilities and
their respective tax bases, and for tax loss and credit carryforwards.
 Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled.  The Company provides
for deferred taxes for the estimated future tax effects attributable to
temporary differences and carryforwards when realization is more likely than
not.  Earnings
(Loss) per Share  The Company
has adopted Financial Accounting Standards Board (FASB) Statement Number 128,
Earnings per Share, (EPS) which requires presentation of basic and
diluted EPS on the face of the income statement for all entities with complex
capital structures and requires a reconciliation of the numerator and
denominator of the basic EPS computation to the numerator and denominator of the
diluted EPS computation.  In the accompanying financial statements, basic
loss per common share is computed by dividing net loss by the weighted average
number of shares of common stock outstanding during the period.  Risks and
Uncertainties  The Company
operates in the real estate development and property rental industry that is
subject to significant risks and uncertainties, including financial,
operational, technological and other risks associated with operating a real
estate development and property rental business, including the potential risk of
business failure.  Comprehensive Income (Loss)  SFAS No. 130,
Reporting Comprehensive Income, establishes standards for reporting and
display of comprehensive income and its components in a full set of
general-purpose financial statements.  For the years ended September 30,
2007 and 2006, the Company had no items of other comprehensive income.
Therefore, net loss equals comprehensive loss for the years ended September 30,
2007 and 2006.  Foreign
Currency Translations  The Companys
functional currency is the Costa Rican Colone. The Companys reporting currency
is the U.S. dollar.  All transactions initiated in Costa Rican Colones are
translated into U.S. dollars in accordance with SFAS No. 52 "Foreign Currency
Translation" as follows:  i) Monetary assets and liabilities at the rate of exchange in effect
at the balance sheet date; ii) Equity at historical rates; and iii) Revenue and expense items at the average rate of exchange
prevailing during the period.  Adjustments
arising from such translations are deferred until realization and are included
as a separate component of stockholders equity (deficit) as a component of
comprehensive income or (loss).  Therefore, translation adjustments are not
included in determining net income (loss) but reported as other comprehensive
income (loss).  For foreign currency transactions, the Company translates these
amounts to the Companys functional currency at the exchange rate effective on
the invoice date.  If the exchange rate changes between the time of
purchase and the time actual payment is made, a foreign exchange transaction
gain or loss results which is included in determining net income (loss) for the
period. No significant realized exchange gains or losses were recorded since
September 14, 2005 (inception) to September 30, 2007. Stock-Based
Compensation  Effective
January 1, 2006, the Company adopted the provisions of Statement of
Financial Accounting Standards (SFAS) No. 123(R), Share-Based
Payment, which establishes accounting for equity instruments exchanged for
employee services. Under the provisions of SFAS 123(R), stock-based compensation
cost is measured at the grant date, based on the calculated fair value of the
award, and is recognized as an expense over the employees requisite service
period (generally the vesting period of the equity grant). Before
January 1, 2006, the Company accounted for stock-based compensation to
employees in accordance with Accounting Principles Board Opinion No. 25,
Accounting for Stock Issued to Employees, and complied with the
disclosure requirements of SFAS No. 123, Accounting for Stock-Based
Compensation.  The Company adopted FAS 123(R) using the modified
prospective method, which requires the Company to record compensation expense
over the vesting period for all awards granted after the date of adoption, and
for the unvested portion of previously granted awards that remain outstanding at
the date of adoption.  Accordingly, financial statements for the periods
prior to January 1, 2006 have not been restated to reflect the fair value method
of expensing share-based compensation.  Adoption of SFAS No. 123(R)
does not change the way the Company accounts for share-based payments to
non-employees, with guidance provided by SFAS 123 (as originally issued) and
Emerging Issues Task Force Issue No. 96-18, Accounting for Equity
Instruments That Are Issued to Other Than Employees for Acquiring, or in
Conjunction with Selling, Goods or Services.  For the years ended
September 30, 2007 and 2006, the Company did not have any stock-based
compensation.  Revenue
Recognition  The Company
recognizes revenue from the sale of products and services in accordance with the
Securities and Exchange Commission Staff Accounting Bulletin No. 104 (SAB
104), Revenue Recognition in Financial Statements.  Revenue will
consist of rental income and will be recognized only when all of the following
criteria have been met:  (i) Persuasive evidence for an agreement exists; (ii) Delivery has occurred; (iii) The fee is fixed or determinable; and (iv) Revenue is reasonably assured.  Off-Balance Sheet
Arrangements  We do not have any
off-balance sheet arrangements that have or are reasonably likely to have a
current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that is material to investors.  Recent
Accounting Pronouncements  Recent
accounting pronouncements that are listed below did and/or are not currently
expected to have a material effect on the Companys financial statements.  FASB
Statements: In February
2007, FASB issued Financial Accounting Standards No. 159, The Fair Value
Option for Financial Assets and Financial LiabilitiesIncluding an amendment of
FASB Statement No. 115.  This Statement permits entities to choose to
measure many financial instruments and certain other items at fair value. The
objective is to improve financial reporting by providing entities with the
opportunity to mitigate volatility in reported earnings caused by measuring
related assets and liabilities differently without having to apply complex hedge
accounting provisions. This Statement is expected to expand the use of fair
value measurement, which is consistent with the Boards long-term measurement
objectives for accounting for financial instruments.  SFAS 159 is effective
as of the beginning of an entitys first fiscal year that begins after November
15, 2007.  In September
2006, FASB issued Financial Accounting Standards No. 157, Fair Value
Measurements.   This Statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles
(GAAP), and expands disclosures about fair value measurements. This Statement
applies under other accounting pronouncements that require or permit fair value
measurements, the Board having previously concluded in those accounting
pronouncements that fair value is the relevant measurement attribute.
Accordingly, this Statement does not require any new fair value measurements.
However, for some entities, the application of this Statement will change
current practice.  SFAS 157 is effective in the first fiscal year that
begins after November 15, 2007.            ITEM
7.  FINANCIAL STATEMENTS.            DELTRON, INC.  (A Development Stage
Company)  AUDITED CONSOLIDATED FINANCIAL STATEMENTS  SEPTEMBER 30, 2007 and 2006                    DELTRON, INC.  (A Development Stage
Company)  INDEX TO AUDITED CONSOLIDATED FINANCIAL
STATEMENTS  FOR THE PERIOD OF SEPTEMBER 14, 2005
(INCEPTION) TO SEPTEMBER 30, 2007   Page(s)  Report of Independent
Registered Public Accounting Firm F-3  Balance Sheets as of September
30, 2007 and 2006 F-4  Statement of Operations for the Years Ended September 30,
2007 and 2006  and
Cumulative from Inception (September 14, 2005) to September 30, 2007 F-5  Statement of Changes in Stockholders Equity for the
Period of Inception
(September 14, 2005) to September 30, 2007 F-6  Statement of Cash Flows for the Years Ended September 30,
2007 and 2006 and
Cumulative from Inception (September 14, 2005) to September 30, 2007 F-7  Notes to Financial
Statements F-8  F-13                           F-2         MOORE
& ASSOCIATES, CHARTERED ACCOUNTANTS
AND ADVISORS PCAOB
REGISTERED   REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM   To the Board of Directors Deltron, Inc. (A Development Stage Company)   We have audited the accompanying balance sheet of Deltron, Inc. (A
Development Stage Company) as of September 30, 2007 and 2006, and the related
statements of operations, stockholders equity and cash flows through September
30, 2007 and 2006, and Inception on September 14, 2005 through September 30,
2007. These financial statements are the responsibility of the Companys
management.  Our responsibility is to express an opinion on these financial
statements based on our audits.  We conducted our audits in accordance with standards of the Public
Company Accounting Oversight Board (United States).  Those standards
require that we plan and perform the audits to obtain reasonable assurance about
whether the financial statements are free of material misstatement.  An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements.  An audit also includes assessing
the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation.  We
believe that our audits provide a reasonable basis for our opinion.  In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of Deltron, Inc. (A
Development Stage Company) as of September 30, 2007 and 2006 and the results of
its operations and its cash flows through September 30, 2007 and 2006, and
Inception on September 14, 2005 through September 30, 2007, in conformity with
accounting principles generally accepted in the United States of America.  The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern.  As discussed in Note 1
to the financial statements, the Company has a working capital deficiency of
$6,036 and an accumulated deficit of $58,765, which raises substantial doubt
about its ability to continue as a going concern.  Managements plans
concerning these matters are also described in Note 1.  The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.  /s/ Moore & Associates, Chartered  Moore & Associates Chartered Las Vegas, Nevada November 21, 2007   2675 S. Jones Blvd. Suite 109, Las Vegas, NV 89146 (702)
253-7499 Fax (702) 253-7501  F-3       Deltron, Inc. (A Development Stage Company) Consolidated Balance Sheets As at
September 30,     ASSETS2007

2006CURRENT ASSETSCash and cash equivalents
$
38,816
$
61,331Prepaid expenses

-

2,060Total current assets

38,816

63,391Development in progress(Note 4)Land

40,657

40,657Development costs

12,514

7,86053,171

48,517TOTAL ASSETS
$
91,987
$
111,908LIABILITIES AND STOCKHOLDERS'
EQUITYCURRENT LIABILITIESAccounts payable
$
587
$
2,840Accrued liabilities

2,000

3,000Due to related party (Note 5)

42,265

42,765TOTAL LIABILITIES

44,852

48,605STOCKHOLDERS' EQUITYCapital
Stock (Note 3)Authorized:100,000,000 common shares, $0.001 par
valueIssued and outstanding:5,545,000 common shares

5,545

5,545Additional paid-in capital

100,355

100,355Deficit accumulated during the development
stage

(58,765)

(42,597)Total Stockholders' Equity

47,135

63,303TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY
$
91,987
$
111,908   - The Accompanying Notes Are An Integral
Part Of These Financial Statements -  F-4


Deltron, Inc. (A Development Stage Company) Consolidated Statements of Operations     Cumulative fromInception(September 14,2005) toYear Ended September 30,


September 30,2007


2006


2007REVENUES



$
-

$
-

$
-OPERATIONG EXPENSESProfessional fees




13,904


28,436


48,174General and administrative




2,264


9,017


10,591Total Operating Expenses




16,168


37,453


58,765Other Income (Expense)




-


-


-Net Loss Applicable to Common Shares



$
(16,168)

$
(37,453)

$
(58,765)PER SHARE DATA:Basic and Diluted Loss per Common
Share



$
(0.003)

$
(0.015)Weighted Average Basic and DilutedCommon Shares Outstanding




5,545,000


2,553,228     - The Accompanying Notes Are An Integral
Part Of These Financial Statements -  F-5





Deltron, Inc. (A Development Stage Company) Consolidated Statement of Stockholders' Equity (Deficit) For the
Period of Inception (September 14, 2005) to September 30, 2007     DeficitAccumulatedAdditional

During theCommon Shares



Paid-in

DevelopmentShares

Amount

Capital

Stage


TotalInception - September 14, 2005


-

$
-

$
-

$
-

$
-Common shares issued for
cashat $0.01 per
share


500,000


500


4,500


-


5,000Loss for the period


-


-


-


(5,144)


(5,144)Balance - September 30, 2005
(audited)
500,000

$
500

$
4,500

$
(5,144)

$
(144)Common shares issued for
cashat $0.02 per
share


5,045,000


5,045


95,855


-


100,900Loss for the year


-


-


-


(37,453)


(37,453)Balance - September 30, 2006
(audited)
5,545,000


5,545


100,355


(42,597)


63,303Loss for the year


-


-


-


(16,168)


(16,168)Balance -  September 30, 2007
(audited)
5,545,000

$
5,545

$
100,355

$
(58,765)

$
47,135     - The Accompanying Notes Are An Integral
Part Of These Financial Statements -  F-6





Deltron, Inc. (A Development Stage Company) Consolidated Statements of Cash Flows     Cumulative fromInception(September 14,2005) toYear Ended September 30,

September 30,2007


2006


2007CASH FLOWS FROM OPERATING ACTIVITIESLoss for the period

$
(16,168)

$
(37,453)

$
(58,765)Changes in Operating Assets and Liabilities:(Increase) decrease in prepaid expenses


2,060


2,128


-Increase (decrease) in accounts payable


(2,253)


2,840


587Increase (decrease) in accrued liabilities


(1,000)


(500)


2,000Net Cash Used in Operating Activities


(17,361)


(32,985)


(56,178)CASH FLOWS FROM INVESTING ACTIVITIESBuilding costs


(4,654)


(7,860)


(12,514)Property purchased


-


(40,657)


(40,657)Net Cash Used in Investing Activities


(4,654)


(48,517)


(53,171)CASH FLOWS FROM FINANCING ACTIVITIESAdvances from (payments to) related party


(500)


41,433


42,265Common stock issued for cash


-


100,900


105,900Net Cash Provided by Financing Activities


(500)


142,333


148,165INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS


(22,515)


60,831


38,816CASH AND CASH EQUIVALENTS AT BEGINNING OF
PERIOD


61,331


500


-CASH AND CASH EQUIVALENTS AT END OF
PERIOD

$
38,816

$
61,331

$
38,816Supplemental Cash Flow Disclosures:Cash paid for:Interest expense

$
-

$
-

$
-Income taxes

$
-

$
-

$
-    - The Accompanying Notes Are An Integral
Part Of These Financial Statements -  F-7        Deltron, Inc. (A Development Stage Company) Notes
to Consolidated Financial Statements September 30, 2007 and 2006     1. Organization  Deltron, Inc. (the
Company) is a Nevada corporation incorporated on September 14, 2005.  It
is based in San Jose, Costa Rica.  The Company incorporated a wholly owned
subsidiary, Deltron Holdings Corporation S.A., in San Jose, Costa Rica on
November 17, 2005.  The Company is a
development stage company that intends to engage principally in the acquisition
and development of rental housing properties in the district of San Isidro de
Heredia, Costa Rica.  To date, the Companys activities have been limited
to its formation, the raising of equity capital and the acquisition and
development of property (Note 4).  Going Concern and
Liquidity Considerations  The accompanying
audited consolidated financial statements have been prepared assuming that the
Company will continue as a going concern, which contemplates, among other
things, the realization of assets and satisfaction of liabilities in the normal
course of business.  As at September 30, 2007, the Company had a working
capital deficiency of $6,036 and an accumulated deficit of $58,765.  The
Company intends to fund operations through equity financing arrangements, which
may be insufficient to fund its capital expenditures, working capital and other
cash requirements for the year ending September 30, 2008.  The ability of the
Company to emerge from the development stage is dependent upon, among other
things, obtaining additional financing to continue operations, and development
of its business plan.  In response to these
problems, management intends to raise additional funds through public or private
placement offerings.  These factors, among
others, raise substantial doubt about the Companys ability to continue as a
going concern.  The accompanying audited consolidated financial statements
do not include any adjustments that might result from the outcome of this
uncertainty.   2. Significant Accounting
Policies  Basis of Consolidation  These consolidated
financial statements presented are those of the Company and its wholly-owned
subsidiary, Deltron Holdings Corporation S.A.  All intercompany balances
and transactions have been eliminated.  Basis of Presentation  The accounting and reporting policies
of the Company conform to U.S. generally accepted accounting principles (US
GAAP) applicable to development stage companies.        F-8   2. Significant Accounting Policies- Continued  Use of Estimates  The preparation of
financial statements in conformity with United States generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amount of revenues and expenses during the reporting period.
 Actual results could differ from those estimates.  The Companys
periodic filings with the Securities and Exchange Commission include, where
applicable, disclosures of estimates, assumptions, uncertainties and markets
that could affect the financial statements and future operations of the
Company.  Cash and Cash Equivalents  Cash and cash
equivalents include cash in banks, money market funds, and certificates of term
deposits with maturities of less than three months from date of purchase, which
are readily convertible to known amounts of cash and which, in the opinion of
management, are subject to an insignificant risk of loss in value.  Asset Retirement Obligations  The Company has adopted
Statement of Financial Accounting Standards (SFAS) No. 143, "Accounting for
Asset Retirement Obligations".  SFAS No. 143 requires entities to
record the fair value of a liability for an asset retirement obligation in the
period in which it is a cost by increasing the carrying amount of the related
long-lived asset.  Over time, the
liability is accreted to its present value, and the capitalized cost is
depreciated over the useful life of the related obligation for its recorded
amount or incurs a gain or loss upon settlement.  Fair Value of Financial Instruments and Derivative Financial
Instruments  The Company has adopted
Statement of Financial Accounting Standards (SFAS) Number 119, Disclosure
About Derivative Financial Instruments and Fair Value of Financial
Instruments.  The carrying amounts of cash and cash equivalents,
accounts payable and amount due to related party approximate their fair values
because of the short maturity of these items.  Certain fair value estimates
may be subject to and involve, uncertainties and matters of significant
judgment, and, therefore, cannot be determined with precision.  Changes in
assumptions could significantly affect these estimates.  The Company does
not hold or issue financial instruments for trading purposes, nor does it
utilize derivative instruments in the management of its foreign exchange,
commodity price or interest rate market risks.          F-9   2. Significant Accounting Policies Continued  Segment Reporting  SFAS Number 131,
Disclosure About Segments of an Enterprise and Related Information,
changed the way public companies report information about segments of their
business in their quarterly reports issued to shareholders.  It also
requires entity-wide disclosures about the products and services an entity
provides, the material countries in which it holds assets and reports revenues
and its major customers.  The Company presently operates only in Costa
Rica.  Income Taxes  Deferred income taxes
are reported for timing differences between items of income or expense reported
in the financial statements and those reported for income tax purposes in
accordance with SFAS Number 109, Accounting for Income Taxes, which
requires the use of the asset/liability method of accounting for income taxes.
 Deferred income taxes and tax benefits are recognized for the future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
bases, and for tax loss and credit carryforwards.  Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled.  The Company provides for deferred taxes for the
estimated future tax effects attributable to temporary differences and
carryforwards when realization is more likely than not.  Earnings (Loss) per Share  The Company has adopted
Financial Accounting Standards Board (FASB) Statement Number 128, Earnings
per Share, (EPS) which requires presentation of basic and diluted EPS on
the face of the income statement for all entities with complex capital
structures and requires a reconciliation of the numerator and denominator of the
basic EPS computation to the numerator and denominator of the diluted EPS
computation.  In the accompanying financial statements, basic loss per
common share is computed by dividing net loss by the weighted average number of
shares of common stock outstanding during the period.  Risks and Uncertainties  The Company operates in
the real estate development and property rental industry that is subject to
significant risks and uncertainties, including financial, operational,
technological and other risks associated with operating a real estate
development and property rental business, including the potential risk of
business failure.  Comprehensive Income (Loss)  SFAS No. 130,
Reporting Comprehensive Income, establishes standards for reporting and
display of comprehensive income and its components in a full set of
general-purpose financial statements.  For the years ended September 30,
2007 and 2006, the Company had no items of other comprehensive income.
Therefore, net loss equals comprehensive loss for the years ended September 30,
2007 and 2006.    F-10   2. Significant Accounting Policies- Continued  Foreign Currency Translations  The Companys
functional currency is the Costa Rican Colone. The Companys reporting currency
is the U.S. dollar.  All transactions initiated in Costa Rican Colones are
translated into U.S. dollars in accordance with SFAS No. 52 "Foreign Currency
Translation" as follows:  i) Monetary assets and liabilities at the rate of exchange in effect
at the balance sheet date; ii) Equity at historical rates; and  iii) Revenue and expense items at the average rate of exchange
prevailing during the period.  Adjustments arising
from such translations are deferred until realization and are included as a
separate component of stockholders equity (deficit) as a component of
comprehensive income or (loss).  Therefore, translation adjustments are not
included in determining net income (loss) but reported as other comprehensive
income (loss).  For foreign currency transactions, the Company translates these
amounts to the Companys functional currency at the exchange rate effective on
the invoice date.  If the exchange rate changes between the time of
purchase and the time actual payment is made, a foreign exchange transaction
gain or loss results which is included in determining net income (loss) for the
period. No significant realized exchange gains or losses were recorded since
September 14, 2005 (inception) to September 30, 2007. Stock-Based
Compensation  Effective
January 1, 2006, the Company adopted the provisions of Statement of
Financial Accounting Standards (SFAS) No. 123(R), Share-Based
Payment, which establishes accounting for equity instruments exchanged for
employee services. Under the provisions of SFAS 123(R), stock-based compensation
cost is measured at the grant date, based on the calculated fair value of the
award, and is recognized as an expense over the employees requisite service
period (generally the vesting period of the equity grant). Before
January 1, 2006, the Company accounted for stock-based compensation to
employees in accordance with Accounting Principles Board Opinion No. 25,
Accounting for Stock Issued to Employees, and complied with the
disclosure requirements of SFAS No. 123, Accounting for Stock-Based
Compensation.  The Company adopted FAS 123(R) using the modified
prospective method, which requires the Company to record compensation expense
over the vesting period for all awards granted after the date of adoption, and
for the unvested portion of previously granted awards that remain outstanding at
the date of adoption.  Accordingly, financial statements for the periods
prior to January 1, 2006 have not been restated to reflect the fair value method
of expensing share-based compensation.  Adoption of SFAS No. 123(R)
does not change the way the Company accounts for share-based payments to
non-employees, with guidance provided by SFAS 123 (as originally issued) and
Emerging Issues Task Force Issue No. 96-18, Accounting for Equity
Instruments That Are Issued to Other Than Employees for Acquiring, or in
Conjunction with Selling, Goods or Services.  For the years ended
September 30, 2007 and 2006, the Company did not have any stock-based
compensation.   F-11   2. Significant Accounting Policies- Continued  Revenue
Recognition  The Company recognizes
revenue from the sale of products and services in accordance with the Securities
and Exchange Commission Staff Accounting Bulletin No. 104 (SAB 104),
Revenue Recognition in Financial Statements.  Revenue will consist
of rental income and will be recognized only when all of the following criteria
have been met:  i) Persuasive evidence for
an agreement exists; ii) Delivery has
occurred; iii) The fee is fixed or
determinable; and iv) Revenue is reasonably
assured.  New Accounting
Pronouncements  Recent accounting
pronouncements that are listed below did and/or are not currently expected to
have a material effect on the Companys financial statements.  FASB
Statements: In February 2007, FASB
issued Financial Accounting Standards No. 159, The Fair Value Option for
Financial Assets and Financial LiabilitiesIncluding an amendment of FASB
Statement No. 115.  This Statement permits entities to choose to
measure many financial instruments and certain other items at fair value. The
objective is to improve financial reporting by providing entities with the
opportunity to mitigate volatility in reported earnings caused by measuring
related assets and liabilities differently without having to apply complex hedge
accounting provisions. This Statement is expected to expand the use of fair
value measurement, which is consistent with the Boards long-term measurement
objectives for accounting for financial instruments.  SFAS 159 is effective
as of the beginning of an entitys first fiscal year that begins after November
15, 2007.  In September 2006, FASB
issued Financial Accounting Standards No. 157, Fair Value Measurements.
  This Statement defines fair value, establishes a framework for
measuring fair value in generally accepted accounting principles (GAAP), and
expands disclosures about fair value measurements. This Statement applies under
other accounting pronouncements that require or permit fair value measurements,
the Board having previously concluded in those accounting pronouncements that
fair value is the relevant measurement attribute. Accordingly, this Statement
does not require any new fair value measurements. However, for some entities,
the application of this Statement will change current practice.  SFAS 157
is effective in the first fiscal year that begins after November 15, 2007.   3. Capital Stock  Authorized Stock  The Company has
authorized 100,000,000 common shares with a par value of $0.001 per share.
 Each common share entitles the holder to one vote, in person or proxy, on
any matter on which action of the stockholder of the corporation is sought. F-12   3. Capital Stock-
Continued  Share Issuances  From inception of the
Company (September 14, 2005) to September 30, 2007, the Company has issued
500,000 common shares at $0.01 per share and 5,045,000 common shares at $0.02
per share, resulting in total proceeds of $105,900 and 5,545,000 common shares
issued and outstanding at September 30, 2007 and 2006.  Of these shares,
400,000 were issued to a director of the Company, 400,000 were issued to a
former director and officer, 1,000,000 were issued to the spouse of a director
and officer of the Company, and 3,745,000 were issued to independent
investors.   4. Development in
Progress  On March 29, 2006,
through the wholly-owned subsidiary Deltron Holdings Corporation S.A., a
property was purchased for $40,657. The funds to purchase the property were
loaned to Deltron Holdings Corporation S.A., by the President of the
Company.  As at September 30,
2007, the Company has incurred development costs of $12,514 ($7,860 - September
30, 2006), relating primarily to architecture and construction permit fees.   5. Related Party
Balances and Transactions  Related party
transactions not disclosed elsewhere in these financial statements are as
follows.  As at September 30,
2007, the Company owed an individual, who is a director and officer of the
Company $42,265 ($42,765 - September 30, 2006).  This balance is
non-interest bearing and is due on demand.  These transactions are
in the normal course of operations and are measured at the exchange amount,
which is the amount of consideration established and agreed to by the related
parties.   6. Income Taxes  The Company recognizes
deferred tax assets and liabilities for temporary differences between the
financial reporting and tax bases of its assets and liabilities.  At
September 30, 2007, the Company had an estimated net operating loss carryforward
for federal tax purposes of $58,765, which, if unused to offset future taxable
income, will begin to expire in 2025 and continue through 2027.  The
potential future tax benefits of these losses have not been recognized in these
financial statements due to uncertainty of their realization.  A 100%
valuation allowance has been recognized to offset the entire related deferred
tax asset due to the uncertainty of realizing the benefit.     F-13       ITEM 8.  CHANGES IN
AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE  Not applicable.  ITEM 8A.  CONTROLS
AND PROCEDURES  Shawn Phillips, our
principal executive and financial officer, conducted an evaluation of the
effectiveness of the design and operation of our disclosure controls and
procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended, as of the end of the period covered by this
report (the Evaluation Date).  Based on this evaluation, he concluded
that, as of the Evaluation Date, our disclosure controls and procedures were
effective to provide a reasonable level of assurance that information relating
to us required to be disclosed in our Securities and Exchange Commission (SEC)
reports (i) is recorded, processed, summarized and reported within the time
periods specified in the SEC rules and forms and (ii) is accumulated and
communicated to our management, including our chief executive officer and
financial officer, to allow timely decisions regarding required disclosure.  There were no changes in
our internal control over financial reporting that occurred during the last
fiscal quarter of the period covered by this report that have materially
affected, or are reasonably likely to materially affect, our internal control
over financial reporting.  A control system, no matter
how well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the control system are met.  Further, the
design of a control system must reflect the fact that there are resource
constraints, and the benefits of controls must be considered relative to their
costs.  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, within our Company have been detected.
 Because of the inherent limitations in a cost-effective control system,
misstatements due to error or fraud may occur and not be detected.  ITEM 8B.  OTHER
INFORMATION  Not applicable.  PART III  ITEM 9.  DIRECTORS,
EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS, AND CORPORATE
GOVERNANCE; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE
ACT  Executive Officers
and Directors  The following table sets
forth certain information, as of December 1, 2007, with respect to our sole
officer and two directors:  Name and
Address
Age
PositionsShawn Phillips
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
38
President, Chief
Executive Officer, Chief Financial Officer, Secretary, Treasurer and
member of the Board of DirectorsHilda Rivera
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
41
Member of the Board
of Directors  Shawn Phillips has held the
positions of President, CEO, CFO, Treasurer and a director since inception and
the position of Secretary since February 5, 2007.  He is expected to hold
said offices/positions until the next annual meeting of our stockholders.  Hilda Rivera has been a
member of the Board of Directors since inception.  She is expected to hold
said position until the next annual meeting of our stockholders.  Mr. Phillips and Ms. Rivera
are our only officers, directors, promoters and control persons.  Background of our
Officer and Directors  Shawn Phillips  Mr. Phillips has over 19
years experience in the direct marketing industry specializing in both
business-to-business and direct to consumer mail-order sales.  He deals mostly with
informational reports/booklets ranging from how to live a healthier lifestyle,
to discount coupon books, financial services, semi-precious jewelry, travel
information, and organic foods.  Mr. Phillips has spent
three of the last six years living in San Jose Costa Rica operating a direct to
consumer mail-order firm that markets various information products by mail to
the United States and Europe.   Hilda
Rivera  Ms. Rivera is a Land
Developer and convenience store proprietor living in San Jose, Costa Rica.  In the last six years Mrs.
Rivera has developed six residential properties in Costa Rica which she
currently rents to the public.  Involvement in
Certain Legal Proceedings  To our knowledge, during
the past five years, no present or former director or executive officer of our
company: (1) filed a petition under the federal bankruptcy laws or any state
insolvency law, nor had a receiver, fiscal agent or similar officer appointed by
a court for the business or present of such a person, or any partnership in
which he was a general partner at or within two years before the time of such
filing, or any corporation or business association of which he was an executive
officer within two years before the time of such filing; (2) was convicted in a
criminal proceeding or named subject of a pending criminal proceeding (excluding
traffic violations and other minor offenses); (3) was the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any
court of competent jurisdiction, permanently or temporarily enjoining him from
or otherwise limiting the following activities: (i) acting as a futures
commission merchant, introducing broker, commodity trading advisor, commodity
pool operator, floor broker, leverage transaction merchant, associated person of
any of the foregoing, or as an investment advisor, underwriter, broker or dealer
in securities, or as an affiliated person, director of any investment company,
or engaging in or continuing any conduct or practice in connection with such
activity; (ii) engaging in any type of business practice; (iii) engaging in any
activity in connection with the purchase or sale of any security or commodity or
in connection with any violation of federal or state securities laws or federal
commodity laws; (4) was the subject of any order, judgment or decree, not
subsequently reversed, suspended or vacated, of any federal or state authority
barring, suspending or otherwise limiting for more than 60 days the right of
such person to engage in any activity described above under this Item, or to be
associated with persons engaged in any such activity; (5) was found by a court
of competent jurisdiction in a civil action or by the Securities and Exchange
Commission to have violated any federal or state securities law and the judgment
in subsequently reversed, suspended or vacate; (6) was found by a court of
competent jurisdiction in a civil action or by the Commodity Futures Trading
Commission to have violated any federal commodities law, and the judgment in
such civil action or finding by the Commodity Futures Trading Commission has not
been subsequently reversed, suspended or vacated.   Board of
Directors  None of our
directors receive any remuneration for acting as such.  Directors may
however be reimbursed their expenses, if any, for attendance at meetings of the
Board of Directors.  Our Board of Directors may designate from among its
members an executive committee and one or more other committees.  No such
committees have been appointed to date.  Accordingly, we do not have an
audit committee or an audit committee financial expert.  We are presently
not required to have an audit committee financial expert and do not believe we
otherwise need one at this time due to our lack of material business operations.
 Similarly we do not have a nominating committee or a committee performing
similar functions.  Our entire board serves the functions of an audit
committee and a nominating committee.  We have not implemented procedures
by which our security holders may recommend board nominees to us but expect to
do so in the future, when and if we engage in material business operations.  We are not
presently required to have independent directors.  Our two directors, Shawn
Phillips and Hilda Rivera are not independent.  If we ever become a listed
issuer whose securities are listed on a national securities exchange or on an
automated inter-dealer quotation system of a national securities association,
which has independent director requirements, we intend to comply with all
applicable requirements relating to director independence.  Code of
Ethics  We have adopted a corporate
code of ethics.  We believe our code of ethics is reasonably designed to
deter wrongdoing and promote honest and ethical conduct; provide full, fair,
accurate, timely and understandable disclosure in public reports; comply with
applicable laws; ensure prompt internal reporting of code violations; and
provide accountability for adherence to the code. A copy of the code of ethics
was previously filed on December 28, 2006as Exhibit 14.1 to our 10KSB for the
year ended September 30, 2006.  We will also provide to any person, without
charge and upon request, a copy of the code of ethics.  Any such request
must be made in writing to us at, Sabana Oeste, Restaurante Princessa Marina,
200 Metros Oeste y 100 mts Norte, Portón Verde, Frente SBC Computadoras, San
Jose, Republica de Costa Rica.  Employment
Agreements  We have no employment
contracts with any of our officers or employees. Compliance
with Section 16(a) of the Exchange Act Because we do not have a
class of equity securities registered pursuant to Section 12 of the Exchange
Act, our executive officers, directors and persons who beneficially own more
than 10% of our common stock are not required to file initial reports of
ownership and reports of changes in ownership with the SEC under Section 16(a)
of the Exchange Act. ITEM 10.  EXECUTIVE
COMPENSATION  The following table sets
forth information concerning the total compensation paid or accrued by us during
the two years ended September 30, 2007 to  (i) all
individuals serving as Deltrons principal executive officer or acting in a
similar capacity during the last completed fiscal year (PEO), regardless of
compensation level; (ii) Deltrons
two most highly compensated executive officers other than the PEO who (A) served
as executive officers at the end of the last completed fiscal year and (B)
received annual compensation during the last completed fiscal year in excess of
$100,000; and (iii) up to
two additional individuals for whom disclosure would have been provided pursuant
to subsection (ii) of this paragraph but for the fact that the individual was
not serving as an executive officer of Deltron at the end of the last completed
fiscal year.  SUMMARY COMPENSATION TABLEName and Principal Position
Year
Salary  ($)
Bonus  ($)
Stock Awards ($)
Option Awards ($)
Non-Equity Incentive Plan Compensation   ($)
Non-qualified Deferred Compensation Earnings
      ($)
All Other Compensation ($)
Total ($)Shawn
Phillips, CEO, CFO, Secretary, Treasurer, Director (PEO)
2007
2006
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0Hilda
Rivera, Director
2007
2006
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0  Currently, none of our
officers and/or directors is being compensated for their services during the
development stage of our business operations.  We have not paid any
salaries in 2007, and we do not anticipate paying any salaries at any time in
2007.  We will not begin paying salaries until we have adequate funds to do
so.  The officers and directors
are reimbursed for any out-of-pocket expenses they incur on our behalf.  In
addition, in the future, we may approve payment of salaries for our officers and
directors, but currently, no such plans have been approved.  We also do not
currently have any benefits, such as health insurance, life insurance or any
other benefits available to our employees.  OUTSTANDING EQUITY AWARDS AT FISCAL YEAR ENDOption Awards
Stock AwardsName
Number of Securities Underlying Unexercised Options (#)
Exercisable
Number of Securities Underlying Unexercised Options (#)
Unexercisable
Equity Incentive Plan Awards; Number of Securities Underlying
Unexercised Unearned Options (#)
Option Exercise Price ($)
Option Expiration Date
Number of Shares or Units of Stock That Have Not Vested
(#)
Market Value of Shares or Units of Stock That Have Not Vested
($)
Equity Incentive Plan Awards: Number of Unearned Shares,
Units or Other Rights That Have Not Vested (#)
Equity Incentive Plan Awards: Market or Payout Value of
Unearned Shares, Units or Other Rights That Have Not Vested (#)Shawn
Phillips
0
0
0
0
0
0
0
0
0Hilda
Rivera
0
0
0
0
0
0
0
0
0  We have not issued any
stock options or maintained any stock option or other incentive plans since our
inception.  We have no plans in place and have never maintained any plans
that provide for the payment of retirement benefits or benefits that will be
paid primarily following retirement including, but not limited to, tax qualified
deferred benefit plans, supplemental executive retirement plans, tax-qualified
deferred contribution plans and nonqualified deferred contribution plans.
 Similarly, we have no contracts, agreements, plans or arrangements,
whether written or unwritten, that provide for payments to the named executive
officers or any other persons following, or in connection with the resignation,
retirement or other termination of a named executive officer, or a change in
control of us or a change in a named executive officers responsibilities
following a change in control.  As of the date hereof, we
have not entered into employment contracts with any of our officers and do not
intend to enter into any employment contracts until such time as it profitable
to do so.  Compensation of
Directors  None of our directors
receive any compensation for serving as such, for serving on committees of the
Board of Directors or for special assignments.  During the fiscal year
ended September 30, 2007, there were no other arrangements between us and our
directors that resulted in our making payments to any of our directors for any
services provided to us by them as directors.  Indemnification  Under our bylaws, the
Company will indemnify any person who was or is a party or is threatened to be
made a party to any proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the Company) by reason
of the fact that such person is or was a director, trustee, officer, employee or
agent of the Company, or is or was serving at the request of the Company as a
director, trustee, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses
(including attorneys fees), judgment, fines and amounts paid in settlement
actually and reasonably incurred by such person in connection with such action,
suit or proceeding if such person acted in good faith and in a manner such
person reasonable believed to be in or not opposed to the best interests of the
Company, and with respect to any criminal action or proceeding, had no
reasonable cause to believe such persons conduct was unlawful.  The
termination of any action, suit or proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, will not, of
itself, create a presumption that the person did not act in good faith and in a
manner which such person reasonably believed to be in or not opposed to the best
interests of the Company, and with respect to any criminal action proceeding,
had reasonable cause to believe that such persons conduct was unlawful.  Regarding indemnification
for liabilities arising under the Securities Act, which may be permitted to
directors or officers under Nevada law, we are informed that, in the opinion of
the Securities and Exchange Commission, indemnification is against public
policy, as expressed in the Act and is, therefore, unenforceable.  ITEM 11.  SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS  Security Ownership of
Certain Beneficial Owners and Management  The following table sets
forth information with respect to the beneficial ownership of our common stock
known by us as of December 1, 2007 by (i) each person or entity known by us to
be the beneficial owner of more than 5% of our common stock, (ii) each of our
directors, (iii) each of our executive officers, and (iv) all of our directors
and executive officers as a group.  The percentages in the table have been
calculated on the basis of treating as outstanding for a particular person, all
shares of our common stock outstanding on such date and all shares of our common
stock issuable to such holder in the event of exercise of outstanding options,
warrants, rights or conversion privileges owned by such person at said date
which are exercisable within 60 days of such date.  Except as otherwise
indicated, the persons listed below have sole voting and investment power with
respect to all shares of our common stock owned by them, except to the extent
such power may be shared with a spouse.  Name
and Address
of
Beneficial Owner
Shares of Common Stock
Beneficially Owned
Percentage
OwnershipShawn Phillips
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
0
0%Hilda Rivera
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
400,000
7.2%All
officers and directors as a group (2 people)
400,000
7.2%Fernando Porras
(1)
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
400,000
7.2%Yoenia Proenza
Sanfiel (2)
Sabana Oeste,
Restaurante Princessa Marina,
200 Metros Oeste y
100 mts Norte, Portón Verde, Frente SBC Computadoras,
San José, República
de Costa Rica
1,000,000
18%  (1)  Mr. Porras is the
former Secretary and Director of the company. He resigned on February 5,
2007. (2)  Ms. Yoenia
Proenza Sanfiel is the wife of our President, Shawn Phillips.  The percentage ownership is
calculated based on 5,545,000 shares of our common stock issued and outstanding
as of December 1, 2007.  Securities Authorized
for Issuance under Equity Compensation Plans  We do not presently
maintain any equity compensation plans and have not maintained any such plans
since our inception.  ITEM 12.  CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE  In September and October
2005, we issued a total of 1,800,000 shares of restricted common stock, 0,
400,000, and 400,000 common shares were issued to Shawn Phillips, Fernando
Porras and Hilda Rivera, respectively, our then directors and officers.
1,000,000 shares were issued to Yoenia Proenza Sanfiel, the wife of Mr.
Phillips.  This was accounted for as an issuance of shares of common stock
in the amount of $31,000.  These shares of common stock are restricted
securities, as defined in Rule 144 of the Rules and Regulations of the SEC
promulgated under the Securities Act.  Effective February 5, 2007,
Fernando Porras resigned as our Secretary and director.  His resignation
did not result from any disagreement with us.  Effective February 5, 2007,
Shawn Phillips, our President, Chief Financial Officer, Treasurer, and a
director, was appointed as our Secretary to fill the position vacated by Mr.
Porras.  As at September 30, 2007,
the Company owed Shawn Phillips, a director and officer of the company $42,265.
 This balance is non-interest bearing and is due on demand.  On March 29, 2006, through
our wholly-owned subsidiary Deltron Holding Corporation S.A. we purchased our
first property for $40,657 from an un-affiliated third party.  The funds to
purchase the property were loaned to Deltron Holding Corporation S.A. by Shawn
Phillips, our President.  The balance is non-interest bearing and there are
no specific terms of repayment.  When we have sufficient revenue to
maintain operations, being generated from the rental of the proposed properties,
the Board of Directors will at that time address terms of repayment to Mr.
Phillips.  This is not expected to occur within the next year of
operations.  In the event our business plan fails and we are forced to sell
the property, the loan would be repaid from the proceeds of the sale.  Mr. Phillips and Ms.
Rivera, our only directors, are not independent under the independence standards
under Item 407(a)(1) of Regulation S-B.         PART III  ITEM 13.
  EXHIBITS.   Exhibits  The
following Exhibits are being filed with this report on Form 10-KSB: Exhibit No.

Description21

Subsidiary
list of Registrant.31.1/31.2

Rule
13(a)  14(a)/15(d)  14(a) Certification of Principal Executive and
Financial Officer.32.1/31.2

Rule
1350 Certification of Chief Executive and Financial
Officer.         ITEM 14.  PRINCIPAL
ACCOUNTANT FEES AND SERVICES.  Audit Fees The aggregate fees billed by our principal accountant for services
rendered during the fiscal years ended September 30, 2007 and 2006,
respectively, are set forth in the table below:  Fee
Category
Year
ended
September 30, 2007
Year
ended
September 30, 2006Audit fees
(1)
$ 6,000
$
10,700Audit-related fees
(2)
0
0Tax fees
(3)
0
0All other fees
(4)
0
0Total
fees
$ 6,000
$
10,700  (1) Audit fees consists of fees incurred for professional services
rendered for the audit of annual financial statements, for reviews of interim
financial statements included in our quarterly reports on Form 10-QSB and for
services that are normally provided in connection with statutory and regulatory
filings or engagements. (2) Audit-related fees consists of fees billed for professional
services that are reasonably related to the performance of the audit or review
of our financial statements, but are not reported under Audit fees. (3) Tax fees consists of fees billed for professional services
relating to tax compliance, tax advice and tax planning, consisting of
preparation of our corporate tax returns for the periods ended September 30,
2006 and 2005.  Our principal accountants are currently preparing the 2007
tax return and did not prepare the tax returns for 2006 and 2005 (4) All other fees consists of fees billed for all other
services.  Audit
Committees Pre-Approval Policies and Procedures  We do not at this time have
an audit committee, therefore, no policies or procedures other than those
required by SEC rules on auditor independence, have been implemented.  The
Board of Directors will have to pre-approve the engagement of our principal
independent accountants to provide non-audit services.  No non-audit
services, except for the preparation of corporate tax returns, for which
pre-approval has been obtained, were provided by our principal independent
accountants in 2007 and 2006.  Section 10A(i) of the Securities Exchange
Act of 1934 prohibits our auditors from performing audit services for us as well
as any services not considered to be audit services unless such services are
pre-approved by the board of directors (in lieu of the audit committee) or
unless the services meet certain de minimis standards.         SIGNATURES  In accordance with Section 13 or 15(d) of the Exchange Act,
the registrant has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.  Date:
 December 17, 2007 DELTRON,
INC.   By:/s/ Shawn Phillips Name: Shawn
Phillips Title: President   In accordance with the Exchange Act, this report has been signed
below by the following persons on behalf of the registrant and in the capacities
and on the dates indicated. Signature
Title
Date/s/
Shawn Phillips
Shawn
Phillips
President
(principal executive officer), Chief Financial Officer (principal
financial officer), Secretary, Treasurer, and member of the Board of
Directors
December
17, 2007