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

                                   -----------

                                   FORM 10-QSB

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

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2005

            |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE TRANSITION PERIOD FROM _____ TO_____

                        Commission File Number: 000-29531

                         ADVANCED MEDICAL INSTITUTE INC.
              (Exact name of small business issuer in its charter)

               Nevada                                     88-0409144
   (State or other jurisdiction of                     (I.R.S. Employer
   incorporation or organization)                    Identification No.)

             6767 Tropicana Avenue, Suite 207
                     Las Vegas, Nevada                       89103
         (Address of principal executive offices)          (Zip Code)

                  Registrant's Telephone Number: (702) 248-1047


                            -------------------------
                            (Former Name and Address)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. YES |X| NO |_|

There were 25,000,000 shares of the Company's common stock outstanding on May
31, 2005.

Transitional Small Business Disclosure Format (check one): YES |_| NO |X|

<PAGE>


                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                             Page
<S>      <C>      <C>                                                                                        <C>
PART I -          FINANCIAL INFORMATION.........................................................................2

         ITEM 1.           FINANCIAL STATEMENTS.................................................................2

         ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION...........................15

         ITEM 3.           CONTROLS AND PROCEDURES.............................................................16

PART II -         OTHER INFORMATION............................................................................21

         ITEM 1.           LEGAL PROCEEDINGS...................................................................21

         ITEM 2.           UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.........................22

         ITEM 3.           DEFAULTS UPON SENIOR SECURITIES.....................................................22

         ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.................................22

         ITEM 5.           OTHER INFORMATION...................................................................22

         ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K....................................................23
</TABLE>


                                       i
<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

                                     ASSETS

                                                 March 31, 2005
                                                   (Unaudited)    June 30, 2004
                                                   ------------    ------------
Current Assets
  Cash                                             $    270,537    $    172,984
  Accounts receivable                                   276,895         211,579
  Inventories of medications                             77,019          69,030
                                                   ------------    ------------

  Total Current Assets                                  624,451         453,593
                                                   ------------    ------------


Fixed Assets, net                                       300,232         344,953
                                                   ------------    ------------
  Total Fixed Assets                                    300,232         344,953
                                                   ------------    ------------

Other Assets
  Receivables due from related parties                  443,480         532,131
  Less allowance for doubtful accounts                  (80,827)        (46,499)
  Security deposits                                      89,543          79,989
  Investment in Intelligent Medical Technologies        666,214               0
                                                   ------------    ------------

  Total Other Assets                                  1,118,410         565,621
                                                   ------------    ------------

Total Assets                                       $  2,043,093    $  1,364,167
                                                   ============    ============

<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)


CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)

                       LIABILITIES AND STOCKHOLDERS' EQUITY

                                               March 31, 2005
                                                 (Unaudited)     June 30, 2004
                                                 ------------    ------------

Current Liabilities
  Unearned revenue                               $     37,709    $    500,539
  Payables                                          1,913,216       1,433,117
  Interest bearing liabilities                         28,010          25,881
  Provision for compensated absences                   79,274          71,051
  Income taxes payable                                157,918          96,670
                                                 ------------    ------------

  Total Current Liabilities                         2,216,127       2,127,258
                                                 ------------    ------------

Non-Current Liabilities
  Payables due to related parties                     280,745          29,128
  Interest bearing liabilities                         73,699          83,633
                                                 ------------    ------------

Total Non-Current Liabilities                         354,444         112,761
                                                 ------------    ------------

Stockholders' Equity

  Common stock, $.001 par value, 25,000,000
  shares authorized, 25,000,000 and 14,600,000
  shares issued and outstanding, respectively          25,000          14,600
  Additional paid in capital                            1,504           4,326
  Retained earnings (deficit)                        (553,982)       (894,778)
                                                 ------------    ------------

  Total Stockholders' Equity                         (527,478)       (875,852)
                                                 ------------    ------------

  Total Liabilities and Stockholders' Equity     $  2,043,093    $  1,364,167
                                                 ============    ============


                                       3
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

                        CONSOLIDATED STATEMENTS OF OPERATIONS
                                     (Unaudited)

<TABLE>
<CAPTION>
                                              Three Months Ended              Nine Months Ended
                                          ---------------------------    ---------------------------
                                           March 31,      March 31,        March 31,      March 31,
                                              2005           2004            2005           2004
                                          ------------   ------------    ------------   ------------
<S>                                       <C>            <C>             <C>            <C>
TOTAL REVENUES                            $  3,523,916   $  2,656,537    $  9,628,143   $ 10,769,631
Cost of Revenues                             1,107,700      1,033,975       3,174,243      4,219,026
                                          ------------   ------------    ------------   ------------

Gross Profit                                 2,416,216      1,622,562       6,453,900      6,550,605

General and Administrative Expenses          2,227,064      1,794,172       5,973,457      6,369,420

   NET INCOME BEFORE INCOME TAX EXPENSE        189,152       (171,610)        480,443        181,185

   Income Tax Expense                          131,559              0         131,559              0

                                          ------------   ------------    ------------   ------------
   NET INCOME                             $     57,593   $   (171,610)   $    348,884   $    181,185
                                          ============   ============    ============   ============


   Net income (loss) per share basic      $     0.0023   $    (0.0118)   $     0.0171   $     0.0124


   Weighted average number of shares        25,000,000     14,600,000      20,377,778     14,600,000
</TABLE>


                                       4
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                       Nine Months Ended
                                                     March 31,      March 31,
                                                       2005            2004
                                                   ------------    ------------

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers                            $  9,119,852    $ 10,733,733
Interest received                                         1,812          18,663
Payments to suppliers, employees and consultants     (8,728,555)    (10,474,798)
Interest and other finance costs paid                   (19,795)              0
                                                   ------------    ------------
    Net cash provided by operating activities           373,314         277,598
                                                   ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of property and equipment              2,686          23,483
Payment for property and equipment                      (30,198)       (151,003)
Loans made                                             (475,373)        (36,981)
Payment for security deposits                              (290)        (26,533)
                                                   ------------    ------------

    Net cash (used in) investing activities            (503,175)       (191,034)
                                                   ------------    ------------

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings                                225,525               0
Repayments of borrowings                                (19,988)        (15,625)
                                                   ------------    ------------

    Net cash provided by financing
activities                                              205,537         (15,625)
                                                   ------------    ------------

    Effect of exchange rate  on cash                     21,877          35,226

    Net change in cash                                   75,676          70,939

    Cash at beginning of period                         172,984         242,673
                                                   ------------    ------------

    Cash at end of period                          $    270,537    $    348,838
                                                   ============    ============


                                       5
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (Unaudited)

                                                       Nine Months Ended
                                                   March 31,        March 31,
                                                      2005            2004
                                                  ------------    ------------

NET INCOME                                        $    348,884    $    181,185

Adjustments to reconcile net income to net cash
  used in operating activities:
    Loss on sale of non-current assets                      65              62
    Depreciation                                        72,168          58,015
    Provision for doubtful accounts                     14,127          13,459

Changes in current assets and liabilities
    Decrease (Increase) in accounts receivable        (136,675)       (170,752)
    Decrease (Increase) in inventories of
medications                                                  0               0
    Decrease (Increase) in unearned revenue           (508,291)        (35,898)
    Decrease (Increase) in payables                    322,997          86,954
    (Decrease) Increase in provisions for
        compensated absences                                 0         (19,593)
    Increase (decrease) in income taxes payable        131,559               0
    Decrease (Increase) in foreign currency
       exchange rate                                   128,480         164,166
                                                  ------------    ------------
    Net cash provided by operations                    373,314         277,598
                                                  ------------    ------------


                                       6
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

                                              Nine Months
                                                 Ended
                                             March 31, 2005   Year Ended
                                              (Unaudited)     June 30, 2004
                                              ------------    ------------

Common stock, number of shares outstanding
  Balance at beginning of period                14,600,000      14,600,000
  Recapitalization as result of merger           2,100,000               0
  Stock cancellation                            (1,450,000)              0
  Stock dividend                                 9,750,000               0
                                              ------------    ------------

  Balance at end of period                      25,000,000      14,600,000
                                              ============    ============

Common stock, par value $.001
  Balance at beginning of year                $     14,600    $     14,600
  Recapitalization as result of merger               2,100               0
  Stock cancellation                                (1,450)              0
  Stock dividend                                     9,750               0
                                              ------------    ------------

  Balance at end of period                          25,000          14,600
                                              ------------    ------------

Additional paid in capital
  Balance at beginning of year                       4,326          18,708
  Recapitalization as result of merger              (2,822)        (14,382)
                                              ------------    ------------

  Balance at end of period                           1,504           4,326
                                              ------------    ------------


Retained (deficits)
  Balance at beginning of year                    (894,778)     (1,106,417)
  Recapitalization as result of merger              (8,088)              0
  Net income (loss)                                348,884         211,639
                                              ------------    ------------

  Balance at end of period                        (553,982)       (894,778)
                                              ------------    ------------

Total stockholders' equity at end of period   ($   527,478)   ($   875,852)
                                              ============    ============


                                       7
<PAGE>

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2005 AND 2004

1. NATURE OF BUSINESS

Nature of Business

Advanced Medical Institute, Inc. (fka Hawksdale Financial Visions, Inc.)
("Company") was organized December 6, 1996 under the laws of the State of Nevada
and was previously in the development stage through March 21, 2005.

On March 21, 2005 the Company completed a Stock Exchange Agreement with Advanced
Medical Institute Pty, Ltd. (an Australian Company) ("AMIP"). As a result of the
exchange agreement, the reorganization was treated as an acquisition by the
accounting acquiree that is being accounted for as a recapitalization and as a
reverse merger by the legal acquirer for accounting purposes. Pursuant to the
recapitalization, all capital stock shares and amounts and per share data have
been retroactively restated. Accordingly, the financial statements include the
following:

      (1) The balance sheet consists of the net assets of the accounting
acquirer at historical cost and the net assets of the legal acquirer at
historical cost.

      (2) The statements of operations include the operations of the accounting
acquirer for the period presented and the operations of the legal acquirer from
the date of the merger.

Advanced Medical Institute Pty., Ltd. is a company limited by shares,
incorporated and domiciled in Australia. The principal activity AMIP is the
medical treatment of male sexual dysfunction. AMIP is a service provider company
which arranges for patients with sexual dysfunction to be provided with medical
services, pharmaceuticals and associated support services. AMIP operates a
centralized call center and approximately twenty clinics Australia wide. The
pharmaceuticals are obtained from a limited number of vendors.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of the Company conform to accounting
principles generally accepted in the United States of America. The following are
descriptions of the more significant policies:

Basis of Accounting

The accompanying financial statements are accrual basis.

Cash Equivalents

For purposes of the statement of cash flows the Company considers all highly
liquid investments with maturities of three months or less to be cash
equivalents.

Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect certain reported amounts and disclosures. Accordingly, actual results
could differ from those estimates.


                                       8
<PAGE>

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue Recognition

Sales are reported as deferred income when the sales contracts are executed and
the term of the contract exceeds three months. Up to three months medication is
delivered to the patient upon the signing of a contract. Generally the term of
the sales contracts are up to one year, but they can be for longer periods of
time. The deferred income arising from the contracts that exceed three months is
then amortized, on a straight line basis, into income during the approximated
composite remaining medication delivery period. This approximated composite is
an estimate that may vary from period to period.

Advertising Expense

Advertising costs are charged to expense as incurred.

Income Tax

The Company adopts the liability method of tax-effect accounting whereby the
income tax expense is based on the operating profit adjusted for permanent
differences.

Timing differences which arise due to the different accounting periods in which
items of revenue and expense are included in the determination of accounting and
taxable income are brought to account as either a provision for deferred income
tax or as a future income tax benefit at the rate of income tax applicable to
the period in which the benefit will be received or the liability will become
payable.

Future income tax benefits are not brought to account unless realization of the
asset is assured beyond any reasonable doubt. Future income tax benefits in
relation to tax losses are not brought to account unless there is virtual
certainty of realization of the benefit.

The amount of benefits brought to account or which may be realized in the future
is based on the assumption that no adverse change will occur in income taxation
legislation and the anticipation that the Company will derive sufficient future
assessable income to enable the benefit to be realized and comply with the
conditions of deductibility imposed by the law.

Inventories

Inventories are measured at the lower of cost or net realizable value. Costs are
assigned on a first-in first-out basis.

Property and Equipment

Property and equipment are carried at cost. Expenditures for maintenance and
repairs are expenses as incurred and expenditures for major renewals and
betterments are capitalized. Assets retired or sold are removed from the
property accounts, with gains or losses on disposal included in income.

Depreciation

Equipment placed in service is depreciated over the estimated useful lives of
the assets using the straight line depreciation method.

Employee Entitlements

Contributions are made to an employee superannuation fund and are charged as
expenses when incurred.


                                       9
<PAGE>

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Foreign Currency

In the statement of cash flows, the line item "US decrease (US increase) in
foreign currency exchange rate" arises from the overall change arising from the
movement of the foreign exchange rate between Australia and the United States.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and
its wholly owned subsidiary, Advanced Medical Institute Pty., Ltd. All
significant intercompany accounts and transactions have been eliminated upon
consolidation.

                                         31 March 2005   30 June 2004


3. PROPERTY AND EQUIPMENT

         Leasehold improvements                128,676        128,719
         Less: accumulated depreciation         28,074         19,429
                                          ------------   ------------
                                               100,602        109,247
                                          ------------   ------------

         Motor Vehicles                         37,770         37,770
         Less: Accumulated Depreciation         10,200          4,938
                                          ------------   ------------
                                                27,570         32,832
                                          ------------   ------------

         Office Furniture & Equipment          104,778         96,480
         Less: Accumulated Depreciation         30,652         22,007
                                          ------------   ------------
                                                74,126         74,473
                                          ------------   ------------

         Computer Hardware                     119,331        112,644
         Less: Accumulated Depreciation         87,075         64,898
                                          ------------   ------------
                                                32,256         47,746
                                          ------------   ------------

         Low Value Pooled Fixed Assets          61,597         59,797
         Less: Accumulated Depreciation         48,966         36,938
                                          ------------   ------------
                                                12,631         22,859
                                          ------------   ------------

         Computer Software                     118,343        107,681
         Less: Accumulated Depreciation         65,296         49,885
                                          ------------   ------------
                                                53,047         57,796
                                          ------------   ------------

         Total Property and Equipment          300,232        344,953
                                          ============   ============



                                       10
<PAGE>

4. INTEREST BEARING LIABILITIES

                                                          31 March  30 June
                                                             2005     2004

       Current, as of the period ended March 31             28,010   25,881
       ==================================================   ======   ======

       Non-current, due during the period ended March 31:

       2005                                                      0   28,386
       2006                                                 39,767   30,987
       2007                                                 25,539   24,260
       2008                                                  8,393        0
                                                            ------   ------

       Total non-current                                    73,699   83,633
                                                            ======   ======


       The interest bearing liabilities require monthly payments of principal
       and interest at a per annum interest rate ranging from 7.40% to 11.4%.
       Obligations under the notes are secured by the financed assets included
       in property and equipment.

5.       LAWSUITS

Litigation is pending or threatened by or against the Company as follows:

The Company is a defendant in various lawsuits. The legal responsibility and
financial impact with respect to such litigation cannot presently be determined.
Management, after review, including consultation with counsel, considers that
any ultimate liability which would be likely to arise from these lawsuits would
not materially affect the financial position or results of operations of the
Company. However, there can be no assurance that these matters can be disposed
of without such an affect.

On July 19, 2004, the Australian Competition and Consumer Commission
(collectively, the "ACCC") filed a suit against the Company in the Federal Court
of Australia Sydney Registry. The ACCC claims that a series of advertisements
made by the Company involving a celebrity that confessed impotence were
misleading and deceptive. The Company has denied the allegation and is
vigorously defending this suit. ACCC is seeking corrective advertising for the
alleged misleading and deceptive advertisements. The ACCC has not made any claim
for damages. The hearing of the proceedings commenced on May 16, 2005 and
continued through May 19, 2005. The hearing has been adjourned until August 30,
2005 and will continue until September 2005, if necessary.

On August 10, 2004, Bradley Joyce, the Company's former Chief Executive Officer
filed a suit against the Company in the Industrial Commission of NSW. Mr. Joyce
alleges that his contract is unfair and seeks to have the Industrial Commission
of NSW amend the contract to include a six month severance payment (which would
be approximately $77,000). These proceedings are at an early stage and a
compulsory conciliation conference did not resolve the claim. The Company has
denied the allegations and is vigorously defending this suit.

On December 17, 2002, Alan Hibberd, a former patient, notified a claim against
the Company in accordance with the Personal Injuries Proceeding Act of 2002. The
Company received the notification on April 5, 2004. Mr. Hibberd claims that we
did not properly notify him of possible adverse effects of the medical procedure
he underwent. Mr. Hibberd is seeking reimbursement of wages in the amount of
$1,332 and presently unspecified damages for physical injuries. These
proceedings are in pre-court procedure. The Company has denied the allegations
and is vigorously defending this suit.

On September 27, 2004, Rocco Licastro, a former patient, filed a suit against
the Company in the District Court of NSW, Sydney Registry. Mr. Licastro's claims
result from an injection therapy that Mr. Licastro claims caused physical


                                       11
<PAGE>

injuries. Mr. Licastro is seeking damages including medical expenses, but no
amount has been specified to date. These proceedings are in an early stage. The
Company has denied the allegations and is vigorously defending this suit.

On August 24, 2004, the Company initiated a suit against Mr. Mark Ryan, a former
consultant, two companies controlled by Mr. Ryan which now compete with us, Dr.
Ian Davies, Mr. Ryan's partner, and a third company controlled by Dr. Davies
(the "Defendants") in the Federal Court of Australia. The Company alleges that
Mr. Ryan breached his confidentiality agreement with it and misused its
intellectual property. The Company is seeking an injunction restraining the
Defendants from using its confidential information and intellectual property.
The Company is also seeking an as of yet unspecified amount of damages. This
proceeding is still in the discovery stage. The Defendants have denied the
allegations.

6. LEASE COMMITMENTS

       The Company is party to long-term, non-cancelable operating lease
       agreements for administrative offices and clinic locations. The future
       aggregate minimum annual lease payments arising from these lease
       agreements are as follows:

                                               31 March 2005   31 March 2004


      Due during the period ended March 31:
      2005                                          476,062          541,096
      2006                                          342,350          330,311
      2007                                          233,219          181,761
      2008                                          167,214           71,372
      2009                                            6,967            7,084
                                                  ---------        ---------

                                                  1,225,812        1,131,624
                                                  =========        =========


7.       CONCENTRATIONS

Sales Markets - The Company's revenues arise from Australian customers.

Suppliers - Although the Company has access to a variety of suppliers, the
majority of the Company's products that are obtained for resale are purchased
from a limited number of suppliers.

Concentration of Credit Risk - Financial instruments that potentially subject
the Company to credit risk consist of uninsured cash deposited in the bank and
large receivables that are sometimes due from a limited number of debtors. The
Company extends credit to a variety of related parties.


8. STOCK EXCHANGE AGREEMENT

On March 21, 2005 (the "Closing Date"), Advanced Medical Institute, Inc., a
Nevada, USA company ("AMI USA") consummated the transactions contemplated by
that certain Share Exchange Agreement dated as of January 28, 2005 (the
"Exchange Agreement") by and among AMI USA, Advanced Medical Pty Limited, a
privately owned Australian company ("AMI Australia"), and AMI Australia's
shareholders, (the "Shareholders"), pursuant to which AMI USA acquired all of
the issued and outstanding shares of stock of the Company in exchange for the
issuance in the aggregate of 14,600,000 of AMI USA's shares of common stock (the
"Shares") to the Shareholders. The issuance of AMI USA's shares of common stock
to the Shareholders was exempt from registration under the Securities Act of
1933, as amended ("Securities Act") pursuant to Section 4(2) and Regulation S
promulgated under the Act.


                                       12
<PAGE>

Following the Closing Date, AMI Australia became a wholly-owned subsidiary of
AMI USA, and upon the issuance of the Shares, the Shareholders became the owners
of approximately 58.4% of all of AMI USA's issued and outstanding stock. AMI USA
currently has a total of 25,000,000 shares of Common Stock issued and
outstanding on a non-fully diluted basis.

9. RELATED PARTY DISCLOSURES

<TABLE>
<CAPTION>
                                                                                31 March 2005      31 March 2004
                                                                                     USD                 USD
      <S>                                                           <S>    <C>  <C>                <C>
      Advanced Hearing Institute Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Payable to this related party                                        AP          5,253                   0

      Advanced Medical Institute Intl. Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Receivable from this related party                            AR                     0                   0

      Advance Medical Solutions Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Call center fees charged to the Company                                        241,989             319,322
      Customer service fees charged to the Company                                    87,212             186,105
      Receivable from this related party                            AR                 2,466                   0
      Payable to this related party                                        AP              0               1,803

      Australian Momentum Health Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Payable to this related party                                        AP              0                 356

      Intelligent Medical Technologies Pty. Ltd. (an AU co.)
      Relationship: Company invested in this entity
      Receivable from this related party                            AR               173,544                   0

      Jack Vaisman  (an AU citizen)
      Relationship: Director of the Company
      Payable to this related party                                        AP         42,843              16,004

      Total Health Screening Pty. Ltd. (an AU co.)
      Relationship: Jack Vaisman, trustee of the owner
      Rental revenue received from this entity                                        17,693              16,857
      Receivable from this related party                            AR               267,470              89,689
      Less allowance for doubtful accounts                                           (80,827)            (50,771)
      Net receivable from this related party                                         186,643              38,918

      Whygo Video Conferencing Pty. Ltd. (an AU co.)
      Relationship: Company shares in this entity's profits
      Rental revenue received from this entity                                         3,657              14,316
      Video Conferencing fees charged to the Company                                   3,939                   0
      Payable to this related party                                        AP          1,592               4,704

      Dragon Enterprises Ltd.
      Relationship: This entity owns part of "AMI USA"
      Payable to this related party                                        AP        231,057                   0
</TABLE>


                                       13
<PAGE>

9. RELATED PARTY DISCLOSURES (continued)

<TABLE>
<CAPTION>
                                                                               31 March 2005       31 March 2004
                                                                                     USD                 USD
      <S>                                                           <S>    <C> <C>                 <C>
      TOTAL Receivables due from related parties                    AR               443,480              89,689
                                                                    --              ========             =======

      TOTAL Payables due to related parties                                AP        280,745              22,867
                                                                           --       ========             =======

      Receivables from, and payables to, related parties are unsecured,
      interest-free and have no fixed repayment term.

      Compensation in the form of wages and/or management fees is paid to
      various related parties.

      During the nine months ended, the Company paid expenses for the following
      entities in the amounts listed:

      o        Intelligent Medical Technologies Pty. Ltd.                            126,602                   0
      o        Total Health Screening Pty. Ltd.                                      256,436              47,935
      o        Whygo Video Conferencing Pty. Ltd.                                      3,832              32,834
</TABLE>


10. GOING CONCERN

      The accompanying financial statements have been prepared assuming that the
      Company will continue as a going concern. However, if the Company
      continues to report negative stockholders' equity or does not have
      sufficient current assets to pay current liabilities as they come due, it
      may not be able to continue as a going concern. Certain regulatory rules
      and regulations require that the Company maintain a positive stockholders'
      equity while it operates. Management plans to raise additional capital
      investment in the Company, and it believes the necessary investment will
      be forthcoming within the six month period following the change in control
      of the Company that took place on March 21, 2005. In the event the
      Company's stockholders' equity is not timely increased via a capital
      infusion and/or profitable operations, the Company may not be able to
      continue as a going concern. The financial statements do not include any
      adjustments that might result from the outcome of this uncertainty.


11. CONTINGENT LIABILITY

      A dispute with a previous telecommunication carrier over billing in the
      amount of $122,924 arose in 2002. Since the Company lodged a counter claim
      of $550,904 against the carrier in 2003, no correspondence has been
      received, from the carrier. No settlement has been reached, but in the
      opinion of the Company's directors, the $122,924 will not be paid. The
      financial statements do not include any adjustments that might result from
      the outcome of this uncertainty.


12. NON-CASH INVESTING TRANSACTION

      A non-cash investing transaction consisting of the Company investing in
      Intelligent Medical Technologies Pty. Ltd. was consummated by
      extinguishing $666,214 of receivables. This investment has been included
      in the Company's non-current assets at cost.


                                       14
<PAGE>

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

THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH THE INFORMATION
CONTAINED IN THE FINANCIAL STATEMENTS OF THE COMPANY AND THE NOTES THERETO
APPEARING ELSEWHERE HEREIN AND IN CONJUNCTION WITH THE MANAGEMENT'S DISCUSSION
AND ANALYSIS SET FORTH IN THE COMPANY'S ANNUAL REPORT ON FORM 10-KSB FOR THE
YEAR ENDED DECEMBER 31, 2004.

PRELIMINARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

The statements contained in this Form 10-QSB that are not purely historical are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These include statements about the Company's expectations, beliefs,
intentions or strategies for the future, which are indicated by words or phrases
such as "anticipate," "expect," "intend," "plan," "will," "the Company
believes," "management believes" and similar words or phrases. The
forward-looking statements are based on the Company's current expectations and
are subject to certain risks, uncertainties and assumptions. The Company's
actual results could differ materially from results anticipated in these
forward-looking statements. All forward-looking statements included in this
document are based on information available to the Company on the date hereof,
and the Company assumes no obligation to update any such forward-looking
statements.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Our discussion and analysis or plan of operations are based upon our
consolidated financial statements, which have been prepared in accordance with
accounting principles generally accepted in the United States. The preparation
of these financial statements requires us to make estimates and judgments that
affect the reported amounts of assets, liabilities, revenues and expenses, and
related disclosure of contingent assets and liabilities. On an on-going basis,
we evaluate our estimates, including those related to accounts receivable
reserves, provisions for impairment losses of affiliated companies and other
intangible assets, income taxes and contingencies. We base our estimates on
historical experience and on various other assumptions that are believed to be
reasonable under the circumstances, the results of which form the basis for
making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions.

We believe the following critical accounting policies reflect our more
significant estimates and assumptions used in the preparation of our
consolidated financial statements:

ALLOWANCE FOR DOUBTFUL ACCOUNTS - We evaluate the collectibility of our trade
receivables based on a combination of factors. We regularly analyze our
significant customer accounts, and, when we become aware of a specific
customer's inability to meet its financial obligations to us, such as in the
case of bankruptcy filings or deterioration in the customer's operating results
or financial position, we record a specific reserve for bad debt to reduce the
related receivable to the amount we reasonably believe is collectible. The
allowances are calculated based on detailed review of certain individual
customer accounts, historical rates and an estimation of the overall economic
conditions affecting our customer base. We review a customer's credit history
before extending credit. If the financial condition of our customers were to
deteriorate, resulting in an impairment of their ability to make payments,
additional allowances may be required.


                                       15
<PAGE>

INCOME TAXES - We record a valuation allowance to reduce our deferred tax assets
to the amount that is more likely than not to be realized. We have considered
future market growth, forecasted earnings, future taxable income, and prudent
and feasible tax planning strategies in determining the need for a valuation
allowance. We currently have recorded a full valuation allowance against net
deferred tax assets as we currently believe it is more likely than not that the
deferred tax assets will not be realized.

CONTINGENCIES - We may be subject to certain asserted and unasserted claims
encountered in the normal course of business. It is our belief that the
resolution of these matters will not have a material adverse effect on our
financial position or results of operations, however, we cannot provide
assurance that damages that result in a material adverse effect on our financial
position or results of operations will not be imposed in these matters. We
account for contingent liabilities when it is probable that future expenditures
will be made and such expenditures can be reasonably estimated.

LONG-LIVED ASSETS - We periodically assesses the need to record impairment
losses on long-lived assets, such as property, plant and equipment, goodwill and
purchased intangible assets, used in operations and its investments when
indicators of impairment are present indicating the carrying value may not be
recoverable. An impairment loss is recognized when estimated undiscounted future
cash flows expected to result from the use of the asset plus net proceeds
expected from disposition of the asset (if any) are less than the carrying value
of the asset. When an impairment is identified, the carrying amount of the asset
is reduced to its estimated fair value. All goodwill will no longer be amortized
and potential impairment of goodwill and purchased intangible assets with
indefinite useful lives will be evaluated using the specific guidance provided
by SFAS No. 142 and SFAS No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets." This impairment analysis will be performed at least
annually. For investments in affiliated companies that are not majority-owned or
controlled, indicators or value generally include revenue growth, operating
results, cash flows and other measures. Management then determines whether there
has been a permanent impairment of value based upon events and circumstances
that have occurred since acquisition. It is reasonably possible that the
impairment factors evaluated by management will change in subsequent periods,
given that the Company operates in a volatile environment. This could result in
material impairment charges in future periods.


NATURE OF THE OPERATIONS OF THE COMPANY

NATURE OF BUSINESS.

         We were incorporated under the name of Hawksdale Financial Visions,
Inc. (sometimes the "Company") on December 6, 1996 under the laws of the State
of Nevada. We originally had intended to time share a single family dwelling
house in the Rum Cay area of the Bahamas, offering a one-twelfth fractional
interest. As at March 31, 1997, all funds raised by the sale of shares of $.001
par value common stock ("Common Stock") in order to fulfill our initial
objective had been expended and we, thereafter, become dormant.

         On October 1, 2004, we formed a corporation under the laws of the State
of Nevada called "Advanced Medical Institute Inc." and on October 5, 2004, we
acquired one hundred shares of its common stock for cash. On October 15, 2004,
the subsidiary was merged with and into the Company and as a result of the
merger, the Company's corporate name was changed to "Advanced Medical Institute
Inc."

         From March 31, 1997 until January 28, 2005, we had been in the
developmental stage and have had no operations and we could be defined as a
"shell" company, an entity which is generally described as having no or nominal


                                       16
<PAGE>

operations and with no or nominal assets or assets consisting solely of cash and
cash equivalents.

         On January 28, 2005, we entered into a Share Exchange Agreement (the
"Exchange Agreement") with Advanced Medical Institute Pty Limited, a privately
owned Australian company ("AMI Australia"), and AMI Australia's shareholders,
(the "Shareholders"), pursuant to which the parties agreed that we would acquire
all of the issued and outstanding shares of stock of AMI Australia in exchange
for the issuance in the aggregate of 14,600,000, or 58.4%, of our shares of
Common Stock (the "Shares") to the Shareholders. On March 21, 2005, we closed
the transaction and issued our Shares, resulting in us acquiring the business of
AMI Australia (the "Share Exchange"), which is discussed below. As used herein,
the "Company" shall also mean AMI Australia after the close of the Share
Exchange when used for events after March 21, 2005, described herein.

General Business Plan.

         AMI Australia was established in February 2001 when it entered into an
agreement with On Clinic, Health Services For Men, Australian Momentum Health to
acquire two chains of medical clinics which provide services relating to the
treatment of sexual dysfunction. AMI Australia currently operates 22 clinics
Australia wide.

         AMI Australia is a service provider company which arranges for patients
to be provided with medical services, pharmaceuticals and associated support
services to people with sexual dysfunction. Its treatment options include:

         (a) injections, lozenges, tablets and nasal spray program options for
the treatment of impotence and erectile dysfunction; and

         (b) injections, lozenges and nasal spray program options for the
treatment of premature ejaculation.

         Each of its treatment options are prescribed by registered Australian
doctors and prepared and delivered by an Australian registered compounding
pharmacy in full compliance with Australian regulatory requirements. AMI
Australia's products and services are only available by prescription and are
sold on an "off-label" basis. AMI Australia's treatment options are generally
only available through its medical clinics.

         AMI Australia licenses certain of the intellectual property used in its
business from Jacov (Jack) Vaisman, its founder, President and Director. This
intellectual property includes an innovation patent for its premature
ejaculation products (which patent is due to expire on 9 July 2012). AMI
Australia's injection, lozenge and tablet impotence and erectile dysfunction
treatment options are not patent protected.

         AMI Australia obtains customers through direct advertising and
marketing and through its existing customer database which exceeds 250,000
people. AMI Australia is in the process of developing new treatment options and
its subsidiary, Intelligent Medical Technologies, has obtained a worldwide
"perpetual" exclusive license from Sheiman Ultasonic Research Foundation Pty
Limited, to utilize certain patents, intellectual property in the fields of
impotence and sexual dysfunction.

         AMI Australia has yet to expand its operations outside Australia but is
considering overseas expansion at this time.


                                       17
<PAGE>

Competition

         AMI Australia competes with rival treatments such as Viagra, Cialis and
Levitra. Companies of all sizes are engaged in the development and
commercialization of technologies similar to ours. Competition is intense in all
of our businesses and includes many large and small competitors. The principal
means of competition vary among product categories and business groups. However,
the efficacy, safety, patients' and customers' ease of use and cost
effectiveness of our products are important factors for success in all of our
principal businesses. Many of our competitors have substantially greater
financial and other resources, larger research and development staffs and more
experience in the regulatory approval process. Moreover, potential competitors
have or may have patents or other rights that conflict with patents covering our
technologies.

Employees

         As of May 31, 2005, the Company had a total of approximately 140
full-time staff, working in the areas of sales and marketing, customer support,
product development and back office functions. None of the Company's employees
are members of a union or labor organization.

Currency Conversion

         As of March 31, 2005 and 2004, the accounts of AMI Australia were
maintained, and its financial statements were expressed, in Australian Dollars
(AUD). Such financial statements were translated into U.S. Dollars (USD) in
accordance with Statement of Financial Accounts Standards ("SFAS") No. 52,
"Foreign Currency Translation", with the AUD as the functional currency.
According to the Statement, all assets and liabilities were translated at the
current exchange rate, stockholder's equity are translated at the historical
rates and income statement items are translated at the weighted-average exchange
rate for the period. The resulting translation adjustments are reported under
other comprehensive income in accordance with SFAS No. 130, "Reporting
Comprehensive Income".

RESULTS OF OPERATIONS.

The following table sets forth, for the periods indicated, certain operating
information expressed as a percentage of revenue:

<TABLE>
<CAPTION>
                                                       Nine months ended           Three months ended
                                                           March 31,                    March 31,
                                                      2005           2004          2005          2004
                                                     --------      --------      --------      --------
<S>                                                  <C>           <C>           <C>           <C>
         Revenues                                     100.0%         100.0%        100%          100%

         Cost of Revenues                              33.0%          39.2%         31.4%         38.9%

         Gross Profit                                  67.0%          60.8%         68.6%         61.1%

         General and administrative expenses           62.0%          59.1%         63.2%         67.6%

         Income before income tax                       5.0%           1.7%          1.7%         (6.5%)

         Income tax expenses                           (1.4%)          0.0%          3.7%            0%

         Net Income                                     3.6%           1.7%          1.6%         (6.5%)
</TABLE>


                                       18
<PAGE>

NINE MONTHS ENDED MARCH 31, 2005 COMPARED TO NINE MONTHS ENDED MARCH 31, 2004

REVENUES. Revenues were $9,628,143 in the nine months ended March 31, 2005
compared to $10,769,631 in the nine months ended March 31, 2004. The decrease in
revenues in the nine-month period is attributable to the reduction in the number
of patients buying treatment programs from the Company which decrease was
substantially offset by an increase in the average revenue per patient during
the nine months ended March 31, 2005.

COST OF REVENUES. Cost of revenues were $3,174,243 in the nine months ended
March 31, 2005 compared to $4,219,026 in the nine months ended March 31, 2004 as
a result of reduction in the number of patients during the nine months ended
March 31, 2005. As a percentage of revenues, cost of revenues were 33.0% in the
nine months ended March 31, 2005 compared to 39.2% in the nine months ended
March 31, 2004. Gross profit was $6,453,900 in the nine months ended March 31,
2005 compared to $6,550,605 in the nine months ended March 31, 2004. As a
percentage of revenues, gross profit increased to 67.0% in the nine months ended
March 31, 2005 from 60.8% in the nine months ended March 31, 2004. The 6.2%
increase in the gross profit percentage is attributable to a decrease in our
medical consulting fees as a result of the Company reducing the number of
doctor's required to service the Company's patients arising from an internal
restructuring of the manner of the Company's service delivery and a resulting
increase in operational efficiency.

GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses were
$5,973,457 in the nine months ended March 31, 2005 compared to $6,369,420 in the
nine months ended March 31, 2004. As a percentage of revenues, general and
administrative expenses increased to 62.0% in the nine months ended March 31,
2005 from 59.1% in the nine months ended March 31, 2004. The 2.9% increase as a
percentage of revenues was related to an increase in the Company's advertising
expenses which was partially offset by a decrease in the Company's head office
consultancy fees arising from an internal restructuring of the manner of the
Company's service delivery and a resulting increase in operational efficiency.

INCOME BEFORE INCOME TAX AND INCOME TAX EXPENSES.
Income before income tax was $480,443 in the nine months ended March 31, 2005
compared to $181,185 in the nine months ended March 31, 2004. This increase was
attributable to the increase in gross profit percentage during the nine months
ended March 31, 2005.

Income tax expenses were $131,559 in the nine months ended March 31, 2005
compared to $0 in the nine months ended March 31, 2004. This increase is
attributable to the increase in income during the nine months ended March 31,
2005.

NET INCOME. Net income was $348,884 in the nine months ended March 31, 2005
compared to $181,185 in the nine months ended March 31, 2004. This increase is
attributable to the reasons set forth above related to the increase in the gross
profit percentage.

THREE MONTHS ENDED MARCH 31, 2005 COMPARED TO THREE MONTHS ENDED MARCH 31, 2004

REVENUES. Revenues were $3,523,916 in the three months ended March 31, 2005
compared to $2,656,537 in the three months ended March 31, 2004. The increase in
revenues in the three-month period is attributable to the effect of increased
advertising and sales efforts during the three months ended March 31, 2005.

COST OF REVENUES. Cost of revenues were $1,107,700 in the three months ended
March 31, 2005 compared to $1,033,975 in the three months ended March 31, 2004
as a result of the growth of business during the three months ended March 31,
2005. As a percentage of revenues, cost of revenues were 31.4% in the three
months ended March 31, 2005 compared to 38.9% in the three months ended March
31, 2004. Gross profit was $2,416,216 in the three months ended March 31, 2005
compared to $1,622,562 in the three months ended March 31, 2004. As a percentage
of revenues, gross profit increased to 68.6% in the three months ended March 31,
2005 from 61.1% in the three months ended March 31, 2004. The 7.5% increase in
the gross profit percentage is attributable to a decrease in the Company's
medical consulting fees arising from the Company reducing the number of doctor's
required to service the Company's patients arising from an internal
restructuring of the manner of the Company's service delivery and a resulting
increase in operational efficiency.


                                       19
<PAGE>

GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses were
$3,334,764 in the three months ended March 31, 2005 compared to $2,828,147 in
the three months ended March 31, 2004. As a percentage of revenues, general and
administrative expenses decreased to 63.2% in the three months ended March 31,
2005 from 67.6% in the three months ended March 31, 2004. The decrease is due to
increase in the Company's advertising expenses which was partially offset by a
reduction in the Company's head office consultancy fees arising from an internal
restructuring of the manner of the Company's service delivery and a resulting
increase in operational efficiency.

INCOME BEFORE INCOME TAX AND INCOME TAX EXPENSES.
Income before income tax was $189,152 in the three months ended March 31, 2005
compared to $(171,610) in the three months ended March 31, 2004. This increase
was attributable to the increase in revenue and the gross profit percentage
during the three months ended March 31, 2005.

Income tax expenses were $131,559 in the three months ended March 31, 2005
compared to $0 in the three months ended March 31, 2004. This increase is
attributable to the increase in income during the three months ended March 31,
2005.

NET INCOME. Net income was $57,593 in the three months ended March 31, 2005
compared to $(171,610) in the three months ended March 31, 2004. This increase
is attributable to the reasons set forth above.

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2005, the Company had $270,537 of cash and cash equivalents and
$(1,591,676) of working capital as compared to $172,984 and $(1,673,665),
respectively, at June 30, 2004.


The Company does not have sufficient cash and cash equivalents for the next
twelve months of operations. If the Company continues to report negative
stockholders' equity, or does not have sufficient assets to pay current
liabilities as they come due, it may not be able to continue as a going concern.
Certain regulatory rules and regulations require that the Company maintain a
positive stockholders' equity while it operates. Management plans to raise
additional capital investment in the Company, and it believes the necessary
investment will be forthcoming within the six month period following the change
in control of the Company that took place on March 21, 2005. In the event the
Company's stockholders' equity is not timely increased via a capital infusion
and/or profitable operations, the Company may not be able to continue as a going
concern.

The Company believes its operations have not been and, in the foreseeable
future, will not be materially adversely affected by inflation or changing
prices.

ITEM 3.  CONTROLS AND PROCEDURES

         Under the supervision and with the participation of the Company's
management, including our principal executive officer and the principal
accounting officer, the Company conducted an evaluation of the effectiveness of
the design and operation of its disclosure controls and procedures, as defined
in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as
of the end of the period covered by this report (the "Evaluation Date"). Based
on this evaluation, the Company's principal executive officer and principal
accounting officer concluded as of the Evaluation Date that the Company's


                                       20
<PAGE>

disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
("SEC") reports is recorded, processed, summarized and reported within the time
periods specified in SEC rules and forms relating to the Company, including our
consolidating subsidiaries, and was made known to them by others within those
entities, particularly during the period when this report was being prepared.

         Additionally, there were no significant changes in the Company's
internal controls or in other factors that could significantly affect these
controls subsequent to the Evaluation Date. We have not identified any
significant deficiencies or material weaknesses in our internal controls, and
therefore there were no corrective actions taken.

                          PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS.

         On July 19, 2004, the Australian Competition and Consumer Commission
(collectively, the "ACCC") filed a suit against AMI Australia in the Federal
Court of Australia Sydney Registry. The ACCC claims that a series of
advertisements made by AMI Australia involving a celebrity that confessed
impotence were misleading and deceptive. AMI Australia has denied the allegation
and is vigorously defending this suit. ACCC is seeking corrective advertising
for the alleged misleading and deceptive advertisements. The ACCC has not made
any claim for damages. The hearing of the proceedings commenced on May 16, 2005
and continued through May 19, 2005. The hearing has been adjourned until August
30, 2005 and will continue until September 2005, if necessary.

         On August 10, 2004, Bradley Joyce, AMI Australia's former Chief
Executive Officer filed a suit against AMI Australia in the Industrial
Commission of NSW. Mr. Joyce alleges that his contract is unfair and seeks to
have the Industrial Commission of NSW amend the contract to include a six month
severance payment (which would be approximately AU$100,000). These proceedings
are at an early stage and a compulsory conciliation conference did not resolve
the claim. AMI Australia has denied the allegations and is vigorously defending
this suit.

         On December 17, 2002, Alan Hibberd, a former patient, notified a claim
against AMI Australia in accordance with the Personal Injuries Proceeding Act of
2002 (Qld). AMI Australia received the notification on April 5, 2004. Mr.
Hibberd claims that we did not properly notify him of possible adverse effects
of the medical procedure he underwent. Mr. Hibberd is seeking reimbursement of
wages in the amount of AU$1,731 and presently unspecified damages for physical
injuries. These proceedings are in pre-court procedure. AMI Australia has denied
the allegations and is vigorously defending this suit.

         On September 27, 2004, Rocco Licastro, a former patient, filed a suit
against AMI Australia in the District Court of NSW, Sydney Registry. Mr.
Licastro's claims result from an injection therapy that Mr. Licastro claims
caused physical injuries. Mr. Licastro is seeking damages including medical
expenses, but no amount has been specified to date. These proceeding are in an
early stage. AMI Australia has denied the allegations and is vigorously
defending this suit.

         On August 24, 2004, AMI Australia initiated a suit against Mr. Mark
Ryan, a former consultant, two companies controlled by Mr. Ryan which now
compete with us, Dr. Ian Davies, Mr. Ryan's partner, and a third company
controlled by Dr. Davies (the "Defendants") in the Federal Court of Australia.
AMI Australia alleges that Mr. Ryan breached his confidentiality agreement with
it and misused its intellectual property. AMI Australia is seeking an injunction
restraining the Defendants from using its confidential information and
intellectual property. AMI Australia is also seeking an as of yet unspecified
amount of damages. This proceeding is still in the discovery stage. The
Defendants have denied the allegations.


                                       21
<PAGE>

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

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.

None.

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

         On May 25, 2005, the Board of directors submitted to a majority of
shareholders eligible to vote a proposal to approve (i) an amendment to our
Articles of Incorporation to increase the number of authorized shares of capital
stock to 100,000,000 shares of which 90,000,000 shares are Common Stock and
10,000,000 shares are Preferred Stock which may be issued in one or more series
or classes as designated by the Board of Directors, from time to time, without
the approval of stockholders and (ii) the amendment and restatement of our
Bylaws which were in place prior to the share exchange that closed on March 21,
2005, but are not desirable for the Company's current and future needs. The
amended and restated Bylaws provide for terms we believe are more appropriate to
our current and future needs.

         The amendment to our Articles of Incorporation and the amendment and
restatement of our Bylaws were ratified by holders of 13,932,500 shares of the
Company's capital stock eligible to vote on May 25, 2005. The shareholders who
approved the foregoing equaled 55.73% of the issued and outstanding shares of
capital stock of the Company eligible to vote. An information statement has been
distributed to the other shareholders of the Company.

ITEM 5. OTHER INFORMATION.

None.


                                       22
<PAGE>

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a)      EXHIBITS

The following exhibits are filed as part of this report:

 Exhibit
 Number                                      Description
------------      --------------------------------------------------------------

2.1               Share Exchange Agreement, dated January 28, 2005 (incorporated
                  herewith by reference to Exhibit 2.1 to Advanced Medical
                  Institute Inc.'s Current Report on Form 8-K dated March 21,
                  2005 and filed with the Securities and Exchange Commission on
                  March 28, 2005).

3.1               Certificate of Incorporation of Advanced Medical Institute
                  Inc. (incorporated herewith by reference to Exhibit 3.1 to
                  Advanced Medical Institute Inc.'s Registration Statement on
                  Form 10-SB filed with the Securities and Exchange Commission
                  on February 16, 2000).

3.2               By-laws of Advanced Medical Institute Inc. (incorporated
                  herewith by reference to Exhibit 3.2 to Advanced Medical
                  Institute Inc.'s Registration Statement on Form 10-SB filed
                  with the Securities and Exchange Commission on February 16,
                  2000).

14.1              Code of Ethics (incorporated herewith by reference to Exhibit
                  14.1 to Advanced Medical Institute Inc.'s Annual Statement on
                  Form 10-KSB filed with the Securities and Exchange Commission
                  on May 31, 2005).

31.1              Certification of Chief Executive Officer pursuant to Rule
                  13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as
                  adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                  2002.

31.2              Certification of the Principal Financial Officer pursuant to
                  Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of
                  1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley
                  Act of 2002.

32.1              Certification of Chief Executive Officer and the Principal
                  Financial Officer Pursuant to 18 U.S.C. 1350 (Section 906 of
                  the Sarbanes-Oxley Act of 2002).

(b)   REPORTS ON FORM 8-K:

None.


                                       23
<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.


                                        ADVANCED MEDICAL INSTITUTE INC.


Date:  June 24, 2005                    By:  /s/ Jacov (Jack) Vaisman
                                             ------------------------------
                                              Jacov (Jack) Vaisman
                                              Chief Executive Officer


Date:  June 24, 2005                    By:  /s/ Dilip Shrestha
                                             ------------------------------
                                              Dilip Shrestha
                                              Chief Financial Officer


                                       24
<PAGE>


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

                                   -----------

                                   FORM 10-QSB

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

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2005

            |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE TRANSITION PERIOD FROM _____ TO_____

                        Commission File Number: 000-29531

                         ADVANCED MEDICAL INSTITUTE INC.
              (Exact name of small business issuer in its charter)

                          Nevada                           88-0409144
              (State or other jurisdiction of           (I.R.S. Employer
              incorporation or organization)          Identification No.)

             6767 Tropicana Avenue, Suite 207
                     Las Vegas, Nevada                       89103
         (Address of principal executive offices)          (Zip Code)

                  Registrant's Telephone Number: (702) 248-1047


                        --------------------------------
                            (Former Name and Address)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. YES |X| NO |_|

There were 25,000,000 shares of the Company's common stock outstanding on May
31, 2005.

Transitional Small Business Disclosure Format (check one): YES |_| NO |X|

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                              Page
<S>      <C>      <C>                                                                                         <C>
PART I -          FINANCIAL INFORMATION.........................................................................2

         ITEM 1.           FINANCIAL STATEMENTS.................................................................2

         ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION...........................17

         ITEM 3.           CONTROLS AND PROCEDURES.............................................................18

PART II -         OTHER INFORMATION............................................................................22

         ITEM 1.           LEGAL PROCEEDINGS...................................................................22

         ITEM 2.           UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.........................23

         ITEM 3.           DEFAULTS UPON SENIOR SECURITIES.....................................................23

         ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.................................23

         ITEM 5.           OTHER INFORMATION...................................................................23

         ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K....................................................24
</TABLE>

                                       i
<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

                                     ASSETS

<TABLE>
<CAPTION>
                                                   March 31, 2005    March 31, 2004
                                                    (Unaudited)        (Unaudited)
                                                   --------------    --------------
<S>                                                <C>               <C>
Current Assets
  Cash                                             $      270,537    $      348,923
  Accounts receivable                                     276,895           264,701
  Inventories of medications                               77,019           105,522
                                                   --------------    --------------

  Total Current Assets                                    624,451           719,146
                                                   --------------    --------------


Fixed Assets, net                                         300,232           357,760
                                                   --------------    --------------
  Total Fixed Assets                                      300,232           357,760
                                                   --------------    --------------

Other Assets
  Receivables due from related parties                    443,480            89,689
  Less allowance for doubtful accounts                    (80,827)          (50,771)
  Security deposits                                        89,543            88,383
  Investment in Intelligent Medical Technologies          666,214                 0
                                                   --------------    --------------

  Total Other Assets                                    1,118,410           127,301
                                                   --------------    --------------

Total Assets                                       $    2,043,093    $    1,204,207
                                                   ==============    ==============
</TABLE>

<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)


CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)

                       LIABILITIES AND STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                 March 31, 2005    March 31, 2004
                                                  (Unaudited)       (Unaudited)
                                                 --------------    --------------

Current Liabilities
<S>                                              <C>               <C>
  Unearned revenue                               $       37,709    $      342,469
  Payables                                            1,913,216         1,597,461
  Interest bearing liabilities                           28,010            26,610
  Provision for compensated absences                     79,274            44,171
  Income taxes payable                                  157,918                 0
                                                 --------------    --------------

  Total Current Liabilities                           2,216,127         2,010,711
                                                 --------------    --------------

Non-Current Liabilities
  Payables due to related parties                       280,745            22,867
  Interest bearing liabilities                           73,699            76,850
                                                 --------------    --------------

Total Non-Current Liabilities                           354,444            99,717
                                                 --------------    --------------

Stockholders' Equity

  Common stock, $.001 par value, 25,000,000
  shares authorized, 25,000,000 and 14,600,000
  shares issued and outstanding, respectively            25,000            14,600
  Additional paid in capital                              1,504             4,326
  Retained earnings (deficit)                          (553,982)         (925,147)
                                                 --------------    --------------

  Total Stockholders' Equity                           (527,478)         (906,221)
                                                 --------------    --------------

  Total Liabilities and Stockholders' Equity     $    2,043,093    $    1,204,207
                                                 ==============    ==============
</TABLE>


                                       3
<PAGE>

                        CONSOLIDATED STATEMENTS OF OPERATIONS
                                     (Unaudited)

                                                Three Months Ended
                                          ----------------------------
                                            March 31,       March 31,
                                              2005            2004
                                          ------------    ------------

TOTAL REVENUES                            $  3,523,916    $  2,656,537
Cost of Revenues                             1,107,700       1,033,975
                                          ------------    ------------

Gross Profit                                 2,416,216       1,622,562

General and Administrative Expenses          2,227,064       1,794,172

   NET INCOME BEFORE INCOME TAX EXPENSE        189,152        (171,610)

   Income Tax Expense                         (131,559)              0

                                          ------------    ------------
   NET INCOME                             $     57,593    ($   171,610)
                                          ============    ============


   Net income (loss) per share basic      $     0.0023    ($    0.0118)


   Weighted average number of shares        25,000,000      14,600,000


                                       4
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                         Three Months Ended
                                                     March 31,        March 31,
                                                       2005              2004
                                                  ----------------  ---------------
<S>                                               <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers                                $3,087,098       $2,752,025
Interest received                                           1,812           12,330
Payments to suppliers, employees and consultants      (2,907,319)      (2,978,727)
Interest and other finance costs paid                     (7,331)                0
                                                  ----------------  ---------------
Net cash provided by operating activities                 174,260        (214,372)
                                                  ----------------  ---------------

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of property and equipment                  143                0
Payment for property and equipment                       (19,256)         (35,086)
Loans made                                               (88,834)         (22,600)
Payment for security deposits                                 188         (14,114)
                                                  ----------------  ---------------

Net cash (used in) investing activities                 (107,759)         (71,800)
                                                  ----------------  ---------------

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings                                  225,525                0
Repayments of borrowings                                (149,011)          (5,839)
                                                  ----------------  ---------------

Net cash provided by financing activities                  76,514          (5,839)
                                                  ----------------  ---------------

Effect of exchange rate  on cash                            1,911         (15,290)

Net change in cash                                        143,015        (292,011)

Cash at beginning of period                               125,611          656,224
                                                   ---------------  ---------------

 Cash at end of period                                   $270,537         $348,923
                                                   ===============  ===============
</TABLE>


                                       5
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

<TABLE>
<CAPTION>
                                                           Three Months Ended
                                                       March 31,        March 31,
                                                         2005              2004
                                                    --------------    --------------
<S>                                                 <C>               <C>
NET INCOME                                          $       57,593    ($     171,610)

Adjustments to reconcile net income to net
cash used in operating activities:
Loss on sale of non-current assets                              65                 0
Depreciation                                                27,063            19,338
Provision for doubtful accounts                             14,127                 0

Changes in current assets and liabilities
Decrease (Increase) in accounts receivable                (128,825)           50,672
Decrease (Increase) in inventories of medications                0                 0
Decrease (Increase) in unearned revenue                   (196,993)           95,488
Decrease (Increase) in payables                            281,719          (215,915)
(Decrease) Increase in provisions for
     compensated absences                                        0                 0
Increase (decrease) in income taxes payable                131,559                 0
Decrease (Increase) in foreign currency exchange
rate                                                       (12,048)            7,655
                                                    --------------    --------------
Net cash provided by operations                            174,260          (214,372)
                                                    --------------    --------------
</TABLE>


                                       6
<PAGE>

ITEM 1.  FINANCIAL STATEMENTS (CONTINUED)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

                                               Three Months      Three Months
                                                  Ended             Ended
                                              March 31, 2005    March 31, 2004
                                               (Unaudited)       (Unaudited)
                                              --------------    --------------

Common stock, number of shares outstanding
  Balance at beginning of period                      25,000        14,600,000
  Recapitalization as result of merger                     0                 0
  Stock cancellation                                       0                 0
  Stock dividend                                           0                 0
                                              --------------    --------------

  Balance at end of period                            25,000        14,600,000
                                              ==============    ==============

Common stock, par value $.001
  Balance at beginning of year                $       25,000    $       14,600
  Recapitalization as result of merger                     0                 0
  Stock cancellation                                       0                 0
  Stock dividend                                           0                 0
                                              --------------    --------------

  Balance at end of period                            25,000            14,600
                                              --------------    --------------

Additional paid in capital
  Balance at beginning of year                         4,326            18,708
  Recapitalization as result of merger                (2,822)          (14,382)
                                              --------------    --------------

  Balance at end of period                             1,504             4,326
                                              --------------    --------------


Retained (deficits)
  Balance at beginning of period                    (603,487)         (753,537)
  Recapitalization as result of merger                (8,088)                0
  Net income (loss)                                   57,593          (171,610)
                                              --------------    --------------

  Balance at end of period                          (553,982)         (925,147)
                                              --------------    --------------

Total stockholders' equity at end of period   $     (527,478)   $     (906,221)
                                              ==============    ==============


                                       7
<PAGE>

                            LICHTER, YU & ASSOCIATES
                          CERTIFIED PUBLIC ACCOUNTANTS

                       16133 VENTURA BOULEVARD, SUITE 520
                            ENCINO, CALIFORNIA 91436
                      TEL (818) 789-0265 FAX (818) 784-3292



             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors and
Stockholders of Advanced Medical Institute, Inc.

We have reviewed the accompanying statements of financial position of Advanced
Medical Institute, Inc. as of March 31, 2005 and 2004, and the related
statements of income, stockholders' equity, and cash flows for each of the three
month periods then ended. These financial statements are the responsibility of
the Company's management.

We conducted our review in accordance with the standards of the Public Company
Accounting Oversight Board (United States). A review of interim financial
information consists principally of applying analytical procedures and making
inquiries of persons responsible for financial and accounting matters. It is
substantially less in scope than an audit conducted in accordance with standards
of the Public Company Accounting Oversight Board (United States), the objective
of which is the expression of an opinion regarding the financial statements
taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the accompanying interim financial statements for them to be in
conformity with accounting principles generally accepted in the United States of
America.


Lichter, Yu & Associates

May 30, 2005


                                       8
<PAGE>

                        ADVANCED MEDICAL INSTITUTE, INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2005 AND 2004


1.    NATURE OF BUSINESS

      Nature of Business

      Advanced Medical Institute, Inc. (fka Hawksdale Financial Visions, Inc.)
      ("Company") was organized December 6, 1996 under the laws of the State of
      Nevada and was previously in the development stage through March 21, 2005.

      On March 21, 2005 the Company completed a Stock Exchange Agreement with
      Advanced Medical Institute Pty, Ltd. (an Australian Company) ("AMIP"). As
      a result of the exchange agreement, the reorganization was treated as an
      acquisition by the accounting acquiree that is being accounted for as a
      recapitalization and as a reverse merger by the legal acquirer for
      accounting purposes. Pursuant to the recapitalization, all capital stock
      shares and amounts and per share data have been retroactively restated.
      Accordingly, the financial statements include the following:

            (1) The balance sheet consists of the net assets of the accounting
      acquirer at historical cost and the net assets of the legal acquirer at
      historical cost.

            (2) The statements of operations include the operations of the
      accounting acquirer for the period presented and the operations of the
      legal acquirer from the date of the merger.

      Advanced Medical Institute Pty., Ltd. is a company limited by shares,
      incorporated and domiciled in Australia. The principal activity AMIP is
      the medical treatment of male sexual dysfunction. AMIP is a service
      provider company which arranges for patients with sexual dysfunction to be
      provided with medical services, pharmaceuticals and associated support
      services. AMIP operates a centralized call center and approximately twenty
      clinics Australia wide. The pharmaceuticals are obtained from a limited
      number of vendors.


2.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

      The accounting and reporting policies of the Company conform to accounting
      principles generally accepted in the United States of America. The
      following are descriptions of the more significant policies:

      Basis of Accounting

      The accompanying financial statements are accrual basis.

      Cash Equivalents

      For purposes of the statement of cash flows the Company considers all
      highly liquid investments with maturities of three months or less to be
      cash equivalents.


                                       9
<PAGE>

       Use of Estimates

       The preparation of financial statements in conformity with generally
       accepted accounting principles requires management to make estimates and
       assumptions that affect certain reported amounts and disclosures.
       Accordingly, actual results could differ from those estimates.

       Revenue Recognition

       Sales are reported as deferred income when the sales contracts are
       executed and the term of the contract exceeds three months. Up to three
       months medication is delivered to the patient upon the signing of a
       contract. Generally the term of the sales contracts are up to one year,
       but they can be for longer periods of time. The deferred income arising
       from the contracts that exceed three months is then amortized, on a
       straight line basis, into income during the approximated composite
       remaining medication delivery period. This approximated composite is an
       estimate that may vary from period to period.

       Advertising Expense

       Advertising costs are charged to expense as incurred.

       Income Tax

       The Company adopts the liability method of tax-effect accounting whereby
       the income tax expense is based on the operating profit adjusted for
       permanent differences.

       Timing differences which arise due to the different accounting periods in
       which items of revenue and expense are included in the determination of
       accounting and taxable income are brought to account as either a
       provision for deferred income tax or as a future income tax benefit at
       the rate of income tax applicable to the period in which the benefit will
       be received or the liability will become payable.

       Future income tax benefits are not brought to account unless realization
       of the asset is assured beyond any reasonable doubt. Future income tax
       benefits in relation to tax losses are not brought to account unless
       there is virtual certainty of realization of the benefit.

       The amount of benefits brought to account or which may be realized in the
       future is based on the assumption that no adverse change will occur in
       income taxation legislation and the anticipation that the Company will
       derive sufficient future assessable income to enable the benefit to be
       realized and comply with the conditions of deductibility imposed by the
       law.

       Inventories

       Inventories are measured at the lower of cost or net realizable value.
       Costs are assigned on a first-in first-out basis.


                                       10
<PAGE>

       Property and Equipment

       Property and equipment are carried at cost. Expenditures for maintenance
       and repairs are expenses as incurred and expenditures for major renewals
       and betterments are capitalized. Assets retired or sold are removed from
       the property accounts, with gains or losses on disposal included in
       income.

       Depreciation

       Equipment placed in service is depreciated over the estimated useful
       lives of the assets using the straight line depreciation method.

       Employee Entitlements

       Contributions are made to an employee superannuation fund and are charged
as expenses when incurred.

       Foreign Currency

       In the statement of cash flows, the line item "US decrease (US increase)
       in foreign currency exchange rate" arises from the overall change arising
       from the movement of the foreign exchange rate between Australia and the
       United States.

       Principles of Consolidation

       The consolidated financial statements include the accounts of the Company
       and its wholly owned subsidiary, Advanced Medical Institute Pty., Ltd.
       All significant intercompany accounts and transactions have been
       eliminated upon consolidation.


<TABLE>
<CAPTION>
                                                           31 March 2005       31 March 2004
<S>   <C>                                                  <C>                 <C>
3.    PROPERTY AND EQUIPMENT

      Leasehold improvements                                     128,676             128,719
      Less: accumulated depreciation                              28,074              14,961
                                                              ----------          ----------
                                                                 100,602             113,758
                                                              ----------          ----------

      Motor Vehicles                                              37,770              21,377
      Less: Accumulated Depreciation                              10,200               4,869
                                                              ----------          ----------
                                                                  27,570              16,508
                                                              ----------          ----------

      Office Furniture & Equipment                               104,778              94,158
      Less: Accumulated Depreciation                              30,652              17,791
                                                              ----------          ----------
                                                                  74,126              76,367
                                                              ----------          ----------

      Computer Hardware                                          119,331             107,352
      Less: Accumulated Depreciation                              87,075              55,372
                                                              ----------          ----------
                                                                  32,256              51,980
                                                              ----------          ----------


                                       11
<PAGE>

      Low Value Pooled Fixed Assets                               61,597              59,659
      Less: Accumulated Depreciation                              48,966              31,342
                                                              ----------          ----------
                                                                  12,631              28,317
                                                              ----------          ----------

      Computer Software                                          118,343             106,743
      Less: Accumulated Depreciation                              65,296              35,913
                                                              ----------          ----------
                                                                  53,047              70,830
                                                              ----------          ----------

      Total Property and Equipment                               300,232             357,760
                                                              ==========          ==========

                                                           31 March 2005       31 March 2004
4. INTEREST BEARING LIABILITIES

      Current, as of the period ended March 31                    28,010              26,610
                                                              ==========          ==========

      Non-current, due during the period ended March 31:

      2005                                                             0              26,713
      2006                                                        39,767              30,306
      2007                                                        25,539              19,831
      2008                                                         8,393                   0
                                                              ----------          ----------

      Total non-current                                           73,699              76,850
                                                              ==========          ==========
</TABLE>


       The interest bearing liabilities require monthly payments of principal
       and interest at a per annum interest rate ranging from 7.40% to 11.4%.
       Obligations under the notes are secured by the financed assets included
       in property and equipment.

5.     LAWSUITS

       Litigation is pending or threatened by or against the Company as follows:

       The Company is a defendant in various lawsuits. The legal responsibility
       and financial impact with respect to such litigation cannot presently be
       determined. Management, after review, including consultation with
       counsel, considers that any ultimate liability which would be likely to
       arise from these lawsuits would not materially affect the financial
       position or results of operations of the Company. However, there can be
       no assurance that these matters can be disposed of without such an
       affect.

       On July 19, 2004, the Australian Competition and Consumer Commission
       (collectively, the "ACCC") filed a suit against the Company in the
       Federal Court of Australia Sydney Registry. The ACCC claims that a series
       of advertisements made by the Company involving a celebrity that
       confessed impotence were misleading and deceptive. The Company has denied
       the allegation and is vigorously defending this suit. ACCC is seeking
       corrective advertising for the alleged misleading and deceptive
       advertisements. The ACCC has not made any claim for damages. The hearing
       of the proceedings commenced on May 16, 2005 and continued through May
       19, 2005. The hearing has been adjourned until August 30, 2005 and will
       continue until September 2005, if necessary.


                                       12
<PAGE>

       On August 10, 2004, Bradley Joyce, the Company's former Chief Executive
       Officer filed a suit against the Company in the Industrial Commission of
       NSW. Mr. Joyce alleges that his contract is unfair and seeks to have the
       Industrial Commission of NSW amend the contract to include a six month
       severance payment (which would be approximately $77,000). These
       proceedings are at an early stage and a compulsory conciliation
       conference did not resolve the claim. The Company has denied the
       allegations and is vigorously defending this suit.

       On December 17, 2002, Alan Hibberd, a former patient, notified a claim
       against the Company in accordance with the Personal Injuries Proceeding
       Act of 2002. The Company received the notification on April 5, 2004. Mr.
       Hibberd claims that we did not properly notify him of possible adverse
       effects of the medical procedure he underwent. Mr. Hibberd is seeking
       reimbursement of wages in the amount of $1,332 and presently unspecified
       damages for physical injuries. These proceedings are in pre-court
       procedure. The Company has denied the allegations and is vigorously
       defending this suit.

       On September 27, 2004, Rocco Licastro, a former patient, filed a suit
       against the Company in the District Court of NSW, Sydney Registry. Mr.
       Licastro's claims result from an injection therapy that Mr. Licastro
       claims caused physical injuries. Mr. Licastro is seeking damages
       including medical expenses, but no amount has been specified to date.
       These proceedings are in an early stage. The Company has denied the
       allegations and is vigorously defending this suit.

       On August 24, 2004, the Company initiated a suit against Mr. Mark Ryan, a
       former consultant, two companies controlled by Mr. Ryan which now compete
       with us, Dr. Ian Davies, Mr. Ryan's partner, and a third company
       controlled by Dr. Davies (the "Defendants") in the Federal Court of
       Australia. The Company alleges that Mr. Ryan breached his confidentiality
       agreement with it and misused its intellectual property. The Company is
       seeking an injunction restraining the Defendants from using its
       confidential information and intellectual property. The Company is also
       seeking an as of yet unspecified amount of damages. This proceeding is
       still in the discovery stage. The Defendants have denied the allegations.


6.     LEASE COMMITMENTS

       The Company is party to long-term, non-cancelable operating lease
       agreements for administrative offices and clinic locations. The future
       aggregate minimum annual lease payments arising from these lease
       agreements are as follows:

                                                 31 March 2005  31 March 2004


      Due during the period ended March 31:
      2005                                            476,062         541,096
      2006                                            342,350         330,311
      2007                                            233,219         181,761
      2008                                            167,214          71,372
      2009                                              6,967           7,084

                                                    1,225,812       1,131,624


                                       13
<PAGE>

7.     CONCENTRATIONS

       Sales Markets - The Company's revenues arise from Australian customers.

       Suppliers - Although the Company has access to a variety of suppliers,
       the majority of the Company's products that are obtained for resale are
       purchased from a limited number of suppliers.

       Concentration of Credit Risk - Financial instruments that potentially
       subject the Company to credit risk consist of uninsured cash deposited in
       the bank and large receivables that are sometimes due from a limited
       number of debtors. The Company extends credit to a variety of related
       parties.


8.     STOCK EXCHANGE AGREEMENT

      On March 21, 2005 (the "Closing Date"), Advanced Medical Institute, Inc.,
      a Nevada, USA company ("AMI USA") consummated the transactions
      contemplated by that certain Share Exchange Agreement dated as of January
      28, 2005 (the "Exchange Agreement") by and among AMI USA, Advanced Medical
      Pty Limited, a privately owned Australian company ("AMI Australia"), and
      AMI Australia's shareholders, (the "Shareholders"), pursuant to which AMI
      USA acquired all of the issued and outstanding shares of stock of the
      Company in exchange for the issuance in the aggregate of 14,600,000 of AMI
      USA's shares of common stock (the "Shares") to the Shareholders. The
      issuance of AMI USA's shares of common stock to the Shareholders was
      exempt from registration under the Securities Act of 1933, as amended
      ("Securities Act") pursuant to Section 4(2) and Regulation S promulgated
      under the Act.

      Following the Closing Date, AMI Australia became a wholly-owned subsidiary
      of AMI USA, and upon the issuance of the Shares, the Shareholders became
      the owners of approximately 58.4% of all of AMI USA's issued and
      outstanding stock. AMI USA currently has a total of 25,000,000 shares of
      Common Stock issued and outstanding on a non-fully diluted basis.


                                       14
<PAGE>

9.    RELATED PARTY DISCLOSURES

<TABLE>
<CAPTION>
                                                                                31 March 2005      31 March 2004
                                                                                     USD                 USD
<S>                                                                 <C>    <C>   <C>               <C>
      Advanced Hearing Institute Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Payable to this related party                                        AP          5,253                   0

      Advanced Medical Institute Intl. Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Receivable from this related party                            AR                     0                   0

      Advance Medical Solutions Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Call center fees charged to the Company                                        241,989             319,322
      Customer service fees charged to the Company                                    87,212             186,105
      Receivable from this related party                            AR                 2,466                   0
      Payable to this related party                                        AP              0               1,803

      Australian Momentum Health Pty. Ltd. (an AU co.)
      Relationship: Under common management control
      Payable to this related party                                        AP              0                 356

      Intelligent Medical Technologies Pty. Ltd. (an AU co.)
      Relationship: Company invested in this entity
      Receivable from this related party                            AR               173,544                   0

      Jack Vaisman  (an AU citizen)
      Relationship: Director of the Company
      Payable to this related party                                        AP         42,843              16,004

      Total Health Screening Pty. Ltd. (an AU co.)
      Relationship: Jack Vaisman, trustee of the owner
      Rental revenue received from this entity                                        17,693              16,857
      Receivable from this related party                            AR               267,470              89,689
      Less allowance for doubtful accounts                                           (80,827)            (50,771)
      Net receivable from this related party                                         186,643              38,918

      Whygo Video Conferencing Pty. Ltd. (an AU co.)
      Relationship: Company shares in this entity's profits
      Rental revenue received from this entity                                         3,657              14,316
      Video Conferencing fees charged to the Company                                   3,939                   0
      Payable to this related party                                        AP          1,592               4,704

      Dragon Enterprises Ltd.
      Relationship: This entity owns part of "AMI USA"
      Payable to this related party                                        AP        231,057                   0


                                       15
<PAGE>

      TOTAL Receivables due from related parties                    AR               443,480              89,689

      TOTAL Payables due to related parties                                AP        280,745              22,867
</TABLE>

9. RELATED PARTY DISCLOSURES (continued)

<TABLE>
<CAPTION>
                                                                               31 March 2005       31 March 2004
                                                                                     USD                 USD
      <S>                                                                      <C>                 <C>
      Receivables from, and payables to, related parties are unsecured,
      interest-free and have no fixed repayment term.

      Compensation in the form of wages and/or management fees is paid to
      various related parties.

      During the nine months ended, the Company paid expenses for the following
      entities in the amounts listed:
      o  Intelligent Medical Technologies Pty. Ltd.                                  126,602                   0
      o  Total Health Screening Pty. Ltd.                                            256,436              47,935
      o  Whygo Video Conferencing Pty. Ltd.                                            3,832              32,834
</TABLE>


10.   GOING CONCERN

      The accompanying financial statements have been prepared assuming that the
      Company will continue as a going concern. However, if the Company
      continues to report negative stockholders' equity or does not have
      sufficient current assets to pay current liabilities as they come due, it
      may not be able to continue as a going concern. Certain regulatory rules
      and regulations require that the Company maintain a positive stockholders'
      equity while it operates. Management plans to raise additional capital
      investment in the Company, and it believes the necessary investment will
      be forthcoming within the six month period following the change in control
      of the Company that took place on March 21, 2005. In the event the
      Company's stockholders' equity is not timely increased via a capital
      infusion and/or profitable operations, the Company may not be able to
      continue as a going concern. The financial statements do not include any
      adjustments that might result from the outcome of this uncertainty.


11.   CONTINGENT LIABILITY

      A dispute with a previous telecommunication carrier over billing in the
      amount of $122,924 arose in 2002. Since the Company lodged a counter claim
      of $550,904 against the carrier in 2003, no correspondence has been
      received, from the carrier. No settlement has been reached, but in the
      opinion of the Company's directors, the $122,924 will not be paid. The
      financial statements do not include any adjustments that might result from
      the outcome of this uncertainty.


                                       16
<PAGE>

12.   NON-CASH INVESTING TRANSACTION

      A non-cash investing transaction consisting of the Company investing in
      Intelligent Medical Technologies Pty. Ltd. was consummated by
      extinguishing $666,214 of receivables. This investment has been included
      in the Company's non-current assets at cost.

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

THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH THE INFORMATION
CONTAINED IN THE FINANCIAL STATEMENTS OF THE COMPANY AND THE NOTES THERETO
APPEARING ELSEWHERE HEREIN AND IN CONJUNCTION WITH THE MANAGEMENT'S DISCUSSION
AND ANALYSIS SET FORTH IN THE COMPANY'S ANNUAL REPORT ON FORM 10-KSB FOR THE
YEAR ENDED DECEMBER 31, 2004.

PRELIMINARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

The statements contained in this Form 10-QSB that are not purely historical are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These include statements about the Company's expectations, beliefs,
intentions or strategies for the future, which are indicated by words or phrases
such as "anticipate," "expect," "intend," "plan," "will," "the Company
believes," "management believes" and similar words or phrases. The
forward-looking statements are based on the Company's current expectations and
are subject to certain risks, uncertainties and assumptions. The Company's
actual results could differ materially from results anticipated in these
forward-looking statements. All forward-looking statements included in this
document are based on information available to the Company on the date hereof,
and the Company assumes no obligation to update any such forward-looking
statements.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Our discussion and analysis or plan of operations are based upon our
consolidated financial statements, which have been prepared in accordance with
accounting principles generally accepted in the United States. The preparation
of these financial statements requires us to make estimates and judgments that
affect the reported amounts of assets, liabilities, revenues and expenses, and
related disclosure of contingent assets and liabilities. On an on-going basis,
we evaluate our estimates, including those related to accounts receivable
reserves, provisions for impairment losses of affiliated companies and other
intangible assets, income taxes and contingencies. We base our estimates on
historical experience and on various other assumptions that are believed to be
reasonable under the circumstances, the results of which form the basis for
making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions.

We believe the following critical accounting policies reflect our more
significant estimates and assumptions used in the preparation of our
consolidated financial statements:

ALLOWANCE FOR DOUBTFUL ACCOUNTS - We evaluate the collectibility of our trade
receivables based on a combination of factors. We regularly analyze our
significant customer accounts, and, when we become aware of a specific
customer's inability to meet its financial obligations to us, such as in the
case of bankruptcy filings or deterioration in the customer's operating results
or financial position, we record a specific reserve for bad debt to reduce the


                                       17
<PAGE>

related receivable to the amount we reasonably believe is collectible. The
allowances are calculated based on detailed review of certain individual
customer accounts, historical rates and an estimation of the overall economic
conditions affecting our customer base. We review a customer's credit history
before extending credit. If the financial condition of our customers were to
deteriorate, resulting in an impairment of their ability to make payments,
additional allowances may be required.

INCOME TAXES - We record a valuation allowance to reduce our deferred tax assets
to the amount that is more likely than not to be realized. We have considered
future market growth, forecasted earnings, future taxable income, and prudent
and feasible tax planning strategies in determining the need for a valuation
allowance. We currently have recorded a full valuation allowance against net
deferred tax assets as we currently believe it is more likely than not that the
deferred tax assets will not be realized.

CONTINGENCIES - We may be subject to certain asserted and unasserted claims
encountered in the normal course of business. It is our belief that the
resolution of these matters will not have a material adverse effect on our
financial position or results of operations, however, we cannot provide
assurance that damages that result in a material adverse effect on our financial
position or results of operations will not be imposed in these matters. We
account for contingent liabilities when it is probable that future expenditures
will be made and such expenditures can be reasonably estimated.

LONG-LIVED ASSETS - We periodically assesses the need to record impairment
losses on long-lived assets, such as property, plant and equipment, goodwill and
purchased intangible assets, used in operations and its investments when
indicators of impairment are present indicating the carrying value may not be
recoverable. An impairment loss is recognized when estimated undiscounted future
cash flows expected to result from the use of the asset plus net proceeds
expected from disposition of the asset (if any) are less than the carrying value
of the asset. When an impairment is identified, the carrying amount of the asset
is reduced to its estimated fair value. All goodwill will no longer be amortized
and potential impairment of goodwill and purchased intangible assets with
indefinite useful lives will be evaluated using the specific guidance provided
by SFAS No. 142 and SFAS No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets." This impairment analysis will be performed at least
annually. For investments in affiliated companies that are not majority-owned or
controlled, indicators or value generally include revenue growth, operating
results, cash flows and other measures. Management then determines whether there
has been a permanent impairment of value based upon events and circumstances
that have occurred since acquisition. It is reasonably possible that the
impairment factors evaluated by management will change in subsequent periods,
given that the Company operates in a volatile environment. This could result in
material impairment charges in future periods.


NATURE OF THE OPERATIONS OF THE COMPANY

NATURE OF BUSINESS.

         We were incorporated under the name of Hawksdale Financial Visions,
Inc. (sometimes the "Company") on December 6, 1996 under the laws of the State
of Nevada. We originally had intended to time share a single family dwelling
house in the Rum Cay area of the Bahamas, offering a one-twelfth fractional
interest. As at March 31, 1997, all funds raised by the sale of shares of $.001
par value common stock ("Common Stock") in order to fulfill our initial
objective had been expended and we, thereafter, become dormant.

         On October 1, 2004, we formed a corporation under the laws of the State
of Nevada called "Advanced Medical Institute Inc." and on October 5, 2004, we
acquired one hundred shares of its common stock for cash. On October 15, 2004,


                                       18
<PAGE>

the subsidiary was merged with and into the Company and as a result of the
merger, the Company's corporate name was changed to "Advanced Medical Institute
Inc."

         From March 31, 1997 until January 28, 2005, we had been in the
developmental stage and have had no operations and we could be defined as a
"shell" company, an entity which is generally described as having no or nominal
operations and with no or nominal assets or assets consisting solely of cash and
cash equivalents.

         On January 28, 2005, we entered into a Share Exchange Agreement (the
"Exchange Agreement") with Advanced Medical Institute Pty Limited, a privately
owned Australian company ("AMI Australia"), and AMI Australia's shareholders,
(the "Shareholders"), pursuant to which the parties agreed that we would acquire
all of the issued and outstanding shares of stock of AMI Australia in exchange
for the issuance in the aggregate of 14,600,000, or 58.4%, of our shares of
Common Stock (the "Shares") to the Shareholders. On March 21, 2005, we closed
the transaction and issued our Shares, resulting in us acquiring the business of
AMI Australia (the "Share Exchange"), which is discussed below. As used herein,
the "Company" shall also mean AMI Australia after the close of the Share
Exchange when used for events after March 21, 2005, described herein.

General Business Plan.

         AMI Australia was established in February 2001 when it entered into an
agreement with On Clinic, Health Services For Men, Australian Momentum Health to
acquire two chains of medical clinics which provide services relating to the
treatment of sexual dysfunction. AMI Australia currently operates 22 clinics
Australia wide.

         AMI Australia is a service provider company which arranges for patients
to be provided with medical services, pharmaceuticals and associated support
services to people with sexual dysfunction. Its treatment options include:

         (a) injections, lozenges, tablets and nasal spray program options for
the treatment of impotence and erectile dysfunction; and

         (b) injections, lozenges and nasal spray program options for the
treatment of premature ejaculation.

         Each of its treatment options are prescribed by registered Australian
doctors and prepared and delivered by an Australian registered compounding
pharmacy in full compliance with Australian regulatory requirements. AMI
Australia's products and services are only available by prescription and are
sold on an "off-label" basis. AMI Australia's treatment options are generally
only available through its medical clinics.

         AMI Australia licenses certain of the intellectual property used in its
business from Jacov (Jack) Vaisman, its founder, President and Director. This
intellectual property includes an innovation patent for its premature
ejaculation products (which patent is due to expire on 9 July 2012). AMI
Australia's injection, lozenge and tablet impotence and erectile dysfunction
treatment options are not patent protected.

         AMI Australia obtains customers through direct advertising and
marketing and through its existing customer database which exceeds 250,000
people. AMI Australia is in the process of developing new treatment options and
its subsidiary, Intelligent Medical Technologies, has obtained a worldwide


                                       19
<PAGE>

"perpetual" exclusive license from Sheiman Ultasonic Research Foundation Pty
Limited, to utilize certain patents, intellectual property in the fields of
impotence and sexual dysfunction.

         AMI Australia has yet to expand its operations outside Australia but is
considering overseas expansion at this time.

Competition

         AMI Australia competes with rival treatments such as Viagra, Cialis and
Levitra. Companies of all sizes are engaged in the development and
commercialization of technologies similar to ours. Competition is intense in all
of our businesses and includes many large and small competitors. The principal
means of competition vary among product categories and business groups. However,
the efficacy, safety, patients' and customers' ease of use and cost
effectiveness of our products are important factors for success in all of our
principal businesses. Many of our competitors have substantially greater
financial and other resources, larger research and development staffs and more
experience in the regulatory approval process. Moreover, potential competitors
have or may have patents or other rights that conflict with patents covering our
technologies.

Employees

         As of May 31, 2005, the Company had a total of approximately 140
full-time staff, working in the areas of sales and marketing, customer support,
product development and back office functions. None of the Company's employees
are members of a union or labor organization.

Currency Conversion

         As of March 31, 2005 and 2004, the accounts of AMI Australia were
maintained, and its financial statements were expressed, in Australian Dollars
(AUD). Such financial statements were translated into U.S. Dollars (USD) in
accordance with Statement of Financial Accounts Standards ("SFAS") No. 52,
"Foreign Currency Translation", with the AUD as the functional currency.
According to the Statement, all assets and liabilities were translated at the
current exchange rate, stockholder's equity are translated at the historical
rates and income statement items are translated at the weighted-average exchange
rate for the period. The resulting translation adjustments are reported under
other comprehensive income in accordance with SFAS No. 130, "Reporting
Comprehensive Income".

The following table sets forth, for the periods indicated, certain operating
information expressed as a percentage of revenue:

                                               Three months ended
                                                    March 31,
                                              2005            2004
                                             ------          ------

      Revenues                                100%            100%

      Cost of Revenues                        31.4%          38.9%

      Gross Profit                            68.6%          61.1%

      General and administrative expenses     94.6%          106.5%

      Income before income tax                5.4%           (6.5%)

      Income tax expenses                     3.7%             0%

      Net Income                              1.6%           (6.5%)


                                       20
<PAGE>

THREE MONTHS ENDED MARCH 31, 2005 COMPARED TO THREE MONTHS ENDED MARCH 31, 2004

REVENUES. Revenues were $3,523,916 in the three months ended March 31, 2005
compared to $2,656,537 in the three months ended March 31, 2004. The increase in
revenues in the three-month period is attributable to the growth of business
during the three months ended March 31, 2005.

COST OF REVENUES. Cost of revenues were $1,107,700 in the three months ended
March 31, 2005 compared to $1,033,975 in the three months ended March 31, 2004
as a result of the growth of business during the three months ended March 31,
2005. As a percentage of revenues, cost of revenues were 31.4% in the three
months ended March 31, 2005 compared to 38.9% in the three months ended March
31, 2004. Gross profit was $2,416,216 in the three months ended March 31, 2005
compared to $1,622,562 in the three months ended March 31, 2004. As a percentage
of revenues, gross profit increased to 68.6% in the three months ended March 31,
2005 from 61.1% in the three months ended March 31, 2004. The 7.5% increase in
the gross profit percentage is attributable to a decrease in the Company's
medical consulting fees as a result of the Company reducing the number of
doctor's required to service the Company's patients arising from an internal
restructuring of the manner of the Company's service delivery and a resulting
increase in operational efficiency.

GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses were
$3,334,764 in the three months ended March 31, 2005 compared to $2,828,147 in
the three months ended March 31, 2004. As a percentage of revenues, general and
administrative expenses decreased to 63.2% in the three months ended March 31,
2005 from 67.6% in the three months ended March 31, 2004. The decrease is due to
increases in the Company's advertising expenses which was partially offset by a
reduction in the Company's head office consultancy fees arising from an internal
restructuring of the manner of the Company's service delivery and a resulting
increase in operational efficiency.

INCOME BEFORE INCOME TAX AND INCOME TAX EXPENSES.
Income before income tax was $189,152 in the three months ended March 31, 2005
compared to $(171,610) in the three months ended March 31, 2004. This increase
was attributable to the increase in revenue during the three months ended March
31, 2005.

Income tax expenses were $131,559 in the three months ended March 31, 2005
compared to $0 in the three months ended March 31, 2004. This increase is
attributable to the increase in income during the three months ended March 31,
2005.

NET INCOME. Net income was $57,593 in the three months ended March 31, 2005
compared to $(171,610) in the three months ended March 31, 2004. This increase
is attributable to the reasons set forth above.

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2005, the Company had $270,537 of cash and cash equivalents and
$(1,591,676) of working capital as compared to $172,984 and $(1,673,665),
respectively, at June 30, 2004.


The Company does not have sufficient cash and cash equivalents for the next
twelve months of operations. If the Company continues to report negative
stockholders' equity or does not have sufficient current assets to pay current
liabilities as they come due, it may not be able to continue as a going concern.
Certain regulatory rules and regulations require that the Company maintain a
positive stockholders' equity while it operates. Management plans to raise
additional capital investment in the Company, and it believes the necessary
investment will be forthcoming within the six month period following the change
in control of the Company that took place on March 21, 2005. In the event the
Company's stockholders' equity is not timely increased via a capital infusion
and/or profitable operations, the Company may not be able to continue as a going
concern.


                                       21
<PAGE>

The Company believes its operations have not been and, in the foreseeable
future, will not be materially adversely affected by inflation or changing
prices.

ITEM 3.  CONTROLS AND PROCEDURES

         Under the supervision and with the participation of the Company's
management, including our principal executive officer and the principal
accounting officer, the Company conducted an evaluation of the effectiveness of
the design and operation of its disclosure controls and procedures, as defined
in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as
of the end of the period covered by this report (the "Evaluation Date"). Based
on this evaluation, the Company's principal executive officer and principal
accounting officer concluded as of the Evaluation Date that the Company's
disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
("SEC") reports is recorded, processed, summarized and reported within the time
periods specified in SEC rules and forms relating to the Company, including our
consolidating subsidiaries, and was made known to them by others within those
entities, particularly during the period when this report was being prepared.

         Additionally, there were no significant changes in the Company's
internal controls or in other factors that could significantly affect these
controls subsequent to the Evaluation Date. We have not identified any
significant deficiencies or material weaknesses in our internal controls, and
therefore there were no corrective actions taken.

                          PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS.

         On July 19, 2004, the Australian Competition and Consumer Commission
(collectively, the "ACCC") filed a suit against AMI Australia in the Federal
Court of Australia Sydney Registry. The ACCC claims that a series of
advertisements made by AMI Australia involving a celebrity that confessed
impotence were misleading and deceptive. AMI Australia has denied the allegation
and is vigorously defending this suit. ACCC is seeking corrective advertising
for the alleged misleading and deceptive advertisements. The ACCC has not made
any claim for damages. The hearing of the proceedings commenced on May 16, 2005
and continued through May 19, 2005. The hearing has been adjourned until August
30, 2005 and will continue until September 2005, if necessary.

         On August 10, 2004, Bradley Joyce, AMI Australia's former Chief
Executive Officer filed a suit against AMI Australia in the Industrial
Commission of NSW. Mr. Joyce alleges that his contract is unfair and seeks to
have the Industrial Commission of NSW amend the contract to include a six month
severance payment (which would be approximately AU$100,000). These proceedings
are at an early stage and a compulsory conciliation conference did not resolve
the claim. AMI Australia has denied the allegations and is vigorously defending
this suit.

         On December 17, 2002, Alan Hibberd, a former patient, notified a claim
against AMI Australia in accordance with the Personal Injuries Proceeding Act of
2002 (Qld). AMI Australia received the notification on April 5, 2004. Mr.
Hibberd claims that we did not properly notify him of possible adverse effects
of the medical procedure he underwent. Mr. Hibberd is seeking reimbursement of
wages in the amount of AU$1,731 and presently unspecified damages for physical
injuries. These proceedings are in pre-court procedure. AMI Australia has denied
the allegations and is vigorously defending this suit.


                                       22
<PAGE>

         On September 27, 2004, Rocco Licastro, a former patient, filed a suit
against AMI Australia in the District Court of NSW, Sydney Registry. Mr.
Licastro's claims result from an injection therapy that Mr. Licastro claims
caused physical injuries. Mr. Licastro is seeking damages including medical
expenses, but no amount has been specified to date. These proceeding are in an
early stage. AMI Australia has denied the allegations and is vigorously
defending this suit.

         On August 24, 2004, AMI Australia initiated a suit against Mr. Mark
Ryan, a former consultant, two companies controlled by Mr. Ryan which now
compete with us, Dr. Ian Davies, Mr. Ryan's partner, and a third company
controlled by Dr. Davies (the "Defendants") in the Federal Court of Australia.
AMI Australia alleges that Mr. Ryan breached his confidentiality agreement with
it and misused its intellectual property. AMI Australia is seeking an injunction
restraining the Defendants from using its confidential information and
intellectual property. AMI Australia is also seeking an as of yet unspecified
amount of damages. This proceeding is still in the discovery stage. The
Defendants have denied the allegations.

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

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.

None.

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

         On May 25, 2005, the Board of directors submitted to a majority of
shareholders eligible to vote a proposal to approve (i) an amendment to our
Articles of Incorporation to increase the number of authorized shares of capital
stock to 100,000,000 shares of which 90,000,000 shares are Common Stock and
10,000,000 shares are Preferred Stock which may be issued in one or more series
or classes as designated by the Board of Directors, from time to time, without
the approval of stockholders and (ii) the amendment and restatement of our
Bylaws which were in place prior to the share exchange that closed on March 21,
2005, but are not desirable for the Company's current and future needs. The
amended and restated Bylaws provide for terms we believe are more appropriate to
our current and future needs.

         The amendment to our Articles of Incorporation and the amendment and
restatement of our Bylaws were ratified by holders of 13,932,500 shares of the
Company's capital stock eligible to vote on May 25, 2005. The shareholders who
approved the foregoing equaled 55.73% of the issued and outstanding shares of
capital stock of the Company eligible to vote. An information statement has been
distributed to the other shareholders of the Company.

ITEM 5.  OTHER INFORMATION.

None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a)      EXHIBITS


                                       23
<PAGE>

The following exhibits are filed as part of this report:

 Exhibit
 Number                                Description
------------             -----------------------------------

2.1               Share Exchange Agreement, dated January 28, 2005 (incorporated
                  herewith by reference to Exhibit 2.1 to Advanced Medical
                  Institute Inc.'s Current Report on Form 8-K dated March 21,
                  2005 and filed with the Securities and Exchange Commission on
                  March 28, 2005).

3.1               Certificate of Incorporation of Advanced Medical Institute
                  Inc. (incorporated herewith by reference to Exhibit 3.1 to
                  Advanced Medical Institute Inc.'s Registration Statement on
                  Form 10-SB filed with the Securities and Exchange Commission
                  on February 16, 2000).

3.2               By-laws of Advanced Medical Institute Inc. (incorporated
                  herewith by reference to Exhibit 3.2 to Advanced Medical
                  Institute Inc.'s Registration Statement on Form 10-SB filed
                  with the Securities and Exchange Commission on February 16,
                  2000).

14.1              Code of Ethics (incorporated herewith by reference to Exhibit
                  14.1 to Advanced Medical Institute Inc.'s Annual Statement on
                  Form 10-KSB filed with the Securities and Exchange Commission
                  on May 31, 2005).

31.1              Certification of Chief Executive Officer pursuant to Rule
                  13A-14(A)/15D-14(A) of the Securities Exchange Act of 1934, as
                  adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                  2002.

31.2              Certification of the Principal Financial Officer pursuant to
                  Rule 13A-14(A)/15D-14(A) of the Securities Exchange Act of
                  1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley
                  Act of 2002.

32.1              Certification of Chief Executive Officer and the Principal
                  Financial Officer Pursuant to 18 U.S.C. 1350 (Section 906 of
                  the Sarbanes-Oxley Act of 2002).


                                       24
<PAGE>

(b)   REPORTS ON FORM 8-K:

1.    Form 8-K, filed on May 31, 2005 under Items 4.01, 5.01, 5.01 and 9.01. The
      following financial statements were filed with the Form 8-K:

      o     Audited Financial Statements of the Company for the years ended
            December 31, 2003 and 2004.

      o     Unaudited Financial Statements of the Company for the quarter ended
            March 31, 2005.

2.    Form 8-K, filed on June 21, 2005 under Items 5.03 changing the Company's
      fiscal year end from December 31 to June 30.


                                       25
<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.


                                           ADVANCED MEDICAL INSTITUTE INC.


Date:  June 24, 2005                       By: /s/ Jacov (Jack) Vaisman
                                               ------------------------------
                                                 Jacov (Jack) Vaisman
                                                 Chief Executive Officer


Date:  June 24, 2005                       By: /s/ Dilip Shrestha
                                               ------------------------------
                                                 Dilip Shrestha
                                                 Chief Financial Officer


                                       26
<PAGE>

                                                                    Exhibit 31.1

                    Certification of Chief Executive Officer
                      Pursuant to Rule 13A-14(A)/15D-14(A)
                     of the Securities Exchange Act of 1934,
      as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

I, Jacov Vaisman, Chief Executive Officer (Principal Executive Officer), certify
that:

      (1) I have reviewed this quarterly report on Form 10-QSB of Advanced
Medical Institute Inc;

      (2) Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
report;

      (3) Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business
issuer as of, and for, the periods presented in this report;

      (4) The small business issuer's other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small
business issuer and have:


            (a) designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being
prepared;

            (b) evaluated the effectiveness of the small business issuer's
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

            (c) disclosed in this report any change in the small business
issuer's internal control over financial reporting that occurred during the
small business issuer's fourth fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the small business issuer's internal
control over financial reporting; and

      (5) The small business issuer's other certifying officers and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the small business issuer's auditors and the audit
committee of the small business issuer's board of directors (or persons
performing the equivalent functions):

            (a) all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer's ability to
record, process, summarize and report financial information; and

            (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the small business issuer `s
internal controls over financial reporting.


                                          By:  /s/ Jacov Vaisman
                                               --------------------------
                                               Jacov Vaisman
                                               Chief Executive Officer

June 24, 2005


                                       27
<PAGE>

                                                                    Exhibit 31.2

                    Certification of Chief Financial Officer
                      pursuant to Rule 13A-14(A)/15D-14(A)
                     of the Securities Exchange Act of 1934,
      as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

I, Dilip Shrestha, the Chief Financial Officer (Principal Financial Officer),
certify that:

      (1) I have reviewed this quarterly report on Form 10-QSB of Advanced
Medical Institute Inc;

      (2) Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
report;

      (3) Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business
issuer as of, and for, the periods presented in this report;

      (4) The small business issuer's other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small
business issuer and have:

            (a) designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being
prepared;

            (b) evaluated the effectiveness of the small business issuer's
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

            (c) disclosed in this report any change in the small business
issuer's internal control over financial reporting that occurred during the
small business issuer's fourth fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the small business issuer's internal
control over financial reporting; and

      (5) The small business issuer's other certifying officers and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the small business issuer's auditors and the audit
committee of the small business issuer's board of directors (or persons
performing the equivalent functions):

            (a) all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the small business issuer's ability to
record, process, summarize and report financial information; and

            (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the small business issuer `s
internal controls over financial reporting.


                                           By:  /s/ Dilip Shrestha
                                                ---------------------------
                                                Dilip Shrestha
                                                Chief Financial Officer

June 24, 2005


                                       28
<PAGE>

                                                                    Exhibit 32.1

                                  CERTIFICATION
                                       OF
                             CHIEF EXECUTIVE OFFICER
                                       AND
                             CHIEF FINANCIAL OFFICER
                           PURSUANT TO 18 U.S.C. 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

      I, Jacov Vaisman, certify, pursuant to 18 U.S.C. 1350, as adopted pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report on
Form 10-QSB of Advanced Medical Institute Inc. for the quarter ended March 31,
2005 fully complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 and that information contained in such Quarterly
Report on Form 10-QSB fairly presents, in all material respects, the financial
condition and results of operations of Advanced Medical Institute Inc.

      I, Dilip Shrestha, certify, pursuant to 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly
Report on Form 10-QSB of Advanced Medical Institute Inc. for the quarter ended
March 31, 2005 fully complies with the requirements of Section 13(a) or 15(d) of
the Securities Exchange Act of 1934 and that information contained in such
Quarterly Report on Form 10-QSB fairly presents, in all material respects, the
financial condition and results of operations of Advanced Medical Institute Inc.


June 24, 2005



By:      /s/ Jacov Vaisman
         -----------------------------------
         Jacov Vaisman
         Chief Executive Officer



By:      /s/ Dilip Shrestha
         -----------------------------------
         Dilip Shrestha
         Chief Financial Officer




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