UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549









FORM
10-K




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




FOR
THE FISCAL YEAR ENDED MARCH 31, 2008




Commission File
Number:333-144973











CORPORATE
OUTFITTERS,
INC.


(Exact
name of registrant as specified in its charter)




DELAWARE
              (State
      or other jurisdiction of
              incorporation
      or organization)
            
            56-2646797
              (I.R.S.
      Employer
              Identification
      No.)







3327
West Indian Trail Road, Suite 152, Spokane, WA 99208


(Address
of principal executive offices, including zip code)




(509)
290-2847


(Registrant's
telephone number, including area code)




The
Company Corporation


2711
Centerville Rd., Suite 400, Wilmington DE 19808 – Phone (302)
636-5440


(Name,
Address, and Telephone Number for Agent of Service)




Securities
registered pursuant to Section 12(b) of the Act:






Title
      of class
            
            Name
      of each exchange on which registeredCommon
      Stock. $0.0001 par value per share
            
            None




Securities
registered pursuant to Section 12(g) of the Act:


None






Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
405 of the Securities Act.    Yes o No x




Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Exchange
Act.    Yes x No o




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




Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K.    o




Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Exchange
Act.


Large
      accelerated filer o
              Accelerated
      filer oNon-accelerated
      filer o
              Smaller
      reporting company x




Indicate
by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).    Yes x No  o






As
of June 28, 2008, the Registrant had outstanding 7,100,000 shares of Common
Stock.   There is currently no Public Market for the Company’s
common shares.






DOCUMENTS
INCORPORATED BY REFERENCE






The
following documents (or portions thereof) are incorporated herein by
reference:  registration statement and exhibits thereto filed on Form
SB-2 July 31, 2007 are incorporated by reference within Part I and Part II
herein.














TABLE OF CONTENTS


CORPORATE
OUTFITTERS, INC.




PAGE
      NOPART IITEM 1.
            
            BUSINESS
            
            4ITEM 1A.
            
            RISK
      FACTORS
            
            5ITEM 1B.
            
            UNRESOLVED
      STAFF COMMENTS
            
            8ITEM 2.
            
            PROPERTIES
            
            8ITEM 3.
            
            LEGAL
      PROCEEDINGS
            
            8ITEM 4.
            
            SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS
            
            8PART IIITEM 5.
            
            MARKET
      FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
      PURCHASES OF EQUITY SECURITIES
            
            9ITEM 6.
            
            SELECTED
      FINANCIAL DATA
            
            9ITEM 7.
            
            MANAGEMENT'S
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
      OPERATIONS
            
            10ITEM 7A.
            
            QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
            
            11ITEM 8.
            
            FINANCIAL
      STATEMENTS AND SUPPLEMENTARY DATA
            
            F-1ITEM 9.
            
            CHANGES
      IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE
            
            12ITEM 9A.
            
            CONTROLS
      AND PROCEDURES
            
            12ITEM 9B.
            
            OTHER
      INFORMATION
            
            12PART IIIITEM 10.
            
            DIRECTORS
      AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
            
            13ITEM 11.
            
            EXECUTIVE
      COMPENSATION
            
            14ITEM 12.
            
            SECURITY
      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
      STOCKHOLDER MATTERS
            
            14ITEM 13.
            
            CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
      INDEPENDENCE
            
            15ITEM 14.
            
            PRINCIPAL
      ACCOUNTANT FEES AND SERVICES
            
            15PART IVITEM 15.
            
            EXHIBITS
      AND FINANCIAL STATEMENT SCHEDULES
            
            16SIGNATURES
            
            17


2




PART
I.




Cautionary
Note




This Annual Report on Form 10-K
contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934, which are subject to a number of risks and uncertainties. All
statements that are not historical facts are forward-looking statements,
including statements about our business strategy, the timing of the introduction
of our services, the effect of Generally Accepted Accounting Principles ("GAAP")
pronouncements, uncertainty regarding our future operating results and our
profitability, anticipated sources of funds and all plans, objectives,
expectations and intentions and the statements regarding revenue, expected
domestic revenue growth rates for fiscal 2008, gross margins and our prospects
for fiscal 2008. These statements appear in a number of places and can be
identified by the use of forward-looking terminology such as "may," "will,"
"should," "expect," "plan," "anticipate," "believe," "estimate," "predict,"
"future," "intend," or "certain" or the negative of these terms or other
variations or comparable terminology, or by discussions of
strategy.




Actual results may vary materially
from those in such forward-looking statements as a result of various factors
that are identified in "Item 7—Management's Discussion and Analysis of
Financial Condition and Results of Operations," "Item 1A.—Risk Factors" and
elsewhere in this document. No assurance can be given that the risk factors
described in this Annual Report on Form 10-K are all of the factors that
could cause actual results to vary materially from the forward-looking
statements. All forward-looking statements speak only as of the date of this
Annual Report on Form 10-K. Readers should not place undue reliance on
these forward-looking statements and are cautioned that any such forward-looking
statements are not guarantees of future performance. We assume no obligation to
update any forward-looking statements.




References in this Annual Report on
Form 10-K to (i) the "Company," the "Registrant," "we," "our," “COI,”
and "us" refer to Corporate Outfitters, Inc.




Investors and security holders may
obtain a free copy of the Annual Report on Form 10-K and other documents
filed by COI with the Securities and Exchange Commission ("SEC") at the SEC's
website at http://www.sec.gov. Free copies of the Annual Report on
Form 10-K and other documents filed by Corporate Outfitters with the SEC
may also be obtained from Corporate Outfitters, Inc. by directing a request to
the Company, Attention:  David Taigen, President and Chief Executive
Officer, 3327 West Indian Trail Rd., Suite 152 Spokane, WA 99208; (509)
290-2847.







3







ITEM
1.    BUSINESS.






General




Corporate
Outfitters, Inc. ("Corporate Outfitters" or the “Company”) is a development
stage company that was incorporated on March 9, 2007, under the laws of the
State of Delaware.  The principal offices are located at 3327 West
Indian Trail Road, Suite 152, Spokane, WA  99208-4762. The telephone
number is (509) 290-2847.  The fax number is (509)
326-2776.




Since
becoming incorporated, Corporate Outfitters has not made any significant
purchases or sale of assets, nor has it been involved in any mergers,
acquisitions or consolidations. Corporate Outfitters has never declared
bankruptcy, it has never been in receivership, and it has never been involved in
any legal action or proceedings.  Our fiscal year end is March
31st.




Corporate
Outfitters, Inc. is looking to enter into the promotional branding industry with
the objective of adding value to a wide variety of products by endorsing them
with the corporate logos of a company for use by the company’s employees or as
gifts or promotional items.  Corporate Outfitters plans to establish
itself as a specialized brand promotional merchandising company. The Company
will identify a range of casual apparel and consumer products that can be
manufactured and resold for high mark-ups with the product endorsement of
corporate logos. Corporate Outfitters intends to create brand name awareness
amongst purchasing managers or decision makers who are able to place its
targeted products into its targeted market. The targeted market is small to
mid-size companies, who are using logo bearing apparel, essential office
products, and leisure products for their employees as well as for gifts for
customers.




Business
Development




Corporate
Outfitters initially plans to source its raw products (apparel and consumer
products without any logos) in China. Once the Company has selected a range of
apparel and promotional products and negotiated pricing it will purchase a small
inventory in order to make promotional samples.  The Company will hire
independent contractors within the United States for all graphic design,
embroidery, and screen printing necessary to place the prospective company logos
on the products.  The Company will profile and market its product line
to the corporate marketplace through online merchandising and an e-catalog on
its website.  The website will have online catalogs offering apparel,
office products and leisure products. The site will allow the consumer to
“upload” an electronic version of their company or corporate logo and order
products online through a fully functional e-commerce enabled
website.




As of
March 31, 2008, Corporate Outfitters had raised approximately $11,950 through
the sale of common stock via its registered offering. As of March 31, 2008 there
was approximately $7,625 of cash on hand and in the corporate bank account.
Corporate Outfitters currently has liabilities of $191 ($1 related party payable
and $190 in accounts payable).  In addition, Corporate Outfitters
anticipates additional costs associated with preparing this annual report in the
amount of $5,500 which includes accounting, bookkeeping, and filing
fees.




As of the
date of this annual report, the Company had fully subscribed its registered
offering of 5,000,000 common shares offered at $0.02 per share with total
proceeds raised at $100,000.  We intend to utilize these funds to
begin the development of our website and cover expenses relating to maintaining
a reporting company status. We have not yet generated or realized any revenues
from our business operations.




There are
no employees other than the current sole officer and director of the Company,
David Taigen.  There are no employment agreements.








4





ITEM
1A.  RISK FACTORS





We are
subject to various risks that may materially harm our business, financial
condition and results of operations.  You should carefully consider
the risks and uncertainties described below and the other information in this
filing before deciding to purchase our common stock.  If any of these
risks or uncertainties actually occurs, our business, financial condition or
operating results could be materially harmed.  In that case, you could
lose all or part of your investment.





We
cannot assure any investor that we will successfully address these
risks.




Corporate
Outfitters' Auditor has substantial doubts as to Corporate Outfitters' ability
to continue as a going concern.




Our
auditor's report on our March 31, 2008 financial statements expresses an opinion
that substantial doubt exists as to whether we can continue as an ongoing
business.  Because the Company has been issued an opinion by its
auditors that substantial doubt exists as to whether the company can continue as
a going concern it may be more difficult for the company to attract
investors.




Corporate
Outfitters incurred an accumulative net loss of ($10,516) for the period from
inception (March 9, 2007) to March 31, 2008, and we have no revenue. Our future
is dependent upon our ability to obtain financing and upon future profitable
operations from the sale of our products.  Our financial statements do
not include any adjustments relating to the recoverability and classification of
recorded assets, or the amounts of and classification of liabilities that might
be necessary in the event we cannot continue in existence.




Because
we lack an operating history, we face a high risk of business failure, which may
result in the loss of your investment.




Corporate
Outfitters is a development stage company and has not even begun the initial
stages of product sourcing overseas. Thus, we have no way to evaluate the
likelihood that we will be able to operate the business successfully. We were
incorporated on March 9, 2007 and to date have been involved primarily in
organizational activities and market research. We have never been profitable and
have never generated any revenue.  Based upon current plans, we expect
to incur operating losses in future periods. This will occur because there are
expenses associated with the sourcing of products, the purchasing of samples,
and marketing products to prospective business customers in order to enable the
company enter into the promotional products business.




We cannot
guarantee we will be successful in generating revenue in the future or be
successful in raising funds through the sale of shares to pay for the company's
business plan and expenditures.




As of the
date of this annual report, we have not earned any revenue. Failure to generate
revenue will cause us to go out of business, which will result in the complete
loss of your investment.




Corporate
Outfitters may be unable to complete its website, which is necessary to promote
and market its products.




The
Corporate Outfitters' does not currently have a website as such the Company is
not yet operational. Corporate Outfitters intends to use the website as a
promotional and marketing tool for its customers to use. Corporate Outfitters
has allocated from $3,000 up to $15,000 to develop the website in the next six
months.  Corporate Outfitters intends to use the website as an
"on-line catalogue" for its customers to be able to view the entire line of
product and services. If this website is not available, Corporate Outfitters
would not be able to adequately market its products and services to potential
customers causing the business to fail.




Because
the Internet will be the Company’s main venue to conduct business, any
significant changes or interruptions to the Internet’s existing infrastructure
will affect our ability to sell products to prospective customers.




If the
Internet infrastructure becomes unreliable, access to the company's website may
be impaired and its business will be harmed. The Company's success depends on
its ability to use the Internet to show prospective customers the type of
products the company has available. The company's website will be the initial
tool used by the company in its sales process. Once a prospective customer has
seen a picture of a product that interests them they will be quoted a price and
then the company would send the prospective customer a physical sample of the
product. The company's ability to quickly send color pictures of product and
pricing to prospective customers via the Internet is paramount to the sales and
marketing strategies of the company. There can be no assurance that the company
will have the financial means or technical know how to protect its website from
such attacks or recover from such an attack. Any long term interruption of
Internet service or interference with the company's website would have a
negative impact on the company's ability to fulfill its business model and the
company could fail.







5





Corporate
Outfitters' success is dependent on current management, who may be unable to
devote sufficient time to the development of Corporate Outfitters' business
plan, which could cause the business to fail.




Corporate
Outfitters is heavily dependent on the extensive industry experience that our
sole Officer and Director, David Taigen, brings to the company. If something
were to happen to him, it would greatly delay its daily operations until further
industry contacts could be established. Furthermore, there is no assurance that
suitable people could be found to replace Mr. Taigen. In that instance,
Corporate Outfitters may be unable to further its business plan.




Additionally,
Mr. Taigen is employed outside of Corporate Outfitters.  Mr. Taigen
has been and continues to expect to be able to commit approximately 10 hours per
week of his time, to the development of Corporate Outfitters' business plan in
the next twelve months. If management is required to spend additional time with
his outside employment, he may not have sufficient time to devote to Corporate
Outfitters, and, Corporate Outfitters would be unable to develop its business
plan.




There
is currently no market for Corporate Outfitters' common stock, but if a market
for our common stock does develop, our stock price may be volatile.




There is
currently no market for Corporate Outfitters' common stock and there is no
assurance that a market will develop. If a market develops, it is anticipated
that the market price of Corporate Outfitters' common stock will be subject to
wide fluctuations in response to several factors including:




o
            The
      ability to complete the development of Corporate Outfitters in order to
      provide those products to the public;o
            The
      ability to generate revenues from
sales;




o
            The
      ability to generate brand recognition of the Corporate Outfitters products
      and services and acceptance by consumers;o
            Increased
      competition from competitors who offer competing services;
    and




o
            Corporate
      Outfitters' financial condition and results of
  operations.






Our
stock is a Penny Stock.  Trading of our stock may be restricted by the
SEC’s Penny Stock regulations and the NASD’s Sales Practices requirements, which
may limit a stockholder’s ability to buy and sell our stock.




The
Company’s common shares may be deemed to be “penny stock” as that term is
defined in Regulation Section “240.3a51 -1” of the Securities and Exchange
Commission (the “SEC”). Penny stocks are stocks: (a) with a price of less than
U.S. $5.00 per share; (b) that are not traded on a “recognized” national
exchange; (c) whose prices are not quoted on the NASDAQ automated quotation
system (NASDAQ - where listed stocks must still meet requirement (a) above); or
(d) in issuers with net tangible assets of less than U.S. $2,000,000 (if the
issuer has been in continuous operation for at least three years) or U.S.
$5,000,000 (if in continuous operation for less than three years), or with
average revenues of less than U.S. $6,000,000 for the last three
years.




Section
“15(g)” of the United States Securities Exchange Act of 1934, as amended, and
Regulation Section “240.15g(c)2” of the SEC require broker dealers dealing in
penny stocks to provide potential investors with a document disclosing the risks
of penny stocks and to obtain a manually signed and dated written receipt of the
document before effecting any transaction in a penny stock for the investor’s
account. Potential investors in the Company’s common shares are urged to obtain
and read such disclosure carefully before purchasing any common shares that are
deemed to be “penny stock”.







6





Moreover,
Regulation Section “240.15g -9” of the SEC requires broker dealers in penny
stocks to approve the account of any investor for transactions in such stocks
before selling any penny stock to that investor. This procedure requires the
broker dealer to: (a) obtain from the investor information concerning his or her
financial situation, investment experience and investment objectives; (b)
reasonably determine, based on that information, that transactions in penny
stocks are suitable for the investor and that the investor has sufficient
knowledge and experience as to be reasonably capable of evaluating the risks of
penny stock transactions; (c) provide the investor with a written statement
setting forth the basis on which the broker dealer made the determination in
(ii) above; and (d) receive a signed and dated copy of such statement from the
investor confirming that it accurately reflects the investor’s financial
situation, investment experience and investment objectives. Compliance with
these requirements may make it more difficult for investors in the Company’s
common shares to resell their common shares to third parties or to otherwise
dispose of them. Stockholders should be aware that, according to Securities and
Exchange Commission Release No. 34-29093, dated April 17, 1991, the market for
penny stocks has suffered in recent years from patterns of fraud and abuse. Such
patterns include:




(i)
control of the market for the security by one or a few broker-dealers that are
often related to the promoter or issuer




(ii)
manipulation of prices through prearranged matching of purchases and sales and
false and misleading press releases




(iii)
boiler room practices involving high-pressure sales tactics and unrealistic
price projections by inexperienced sales persons




(iv)
excessive and undisclosed bid-ask differential and markups by selling
broker-dealers




(v) the
wholesale dumping of the same securities by promoters and broker-dealers after
prices have been manipulated to a desired level, along with the resulting
inevitable collapse of those prices and with consequent investor
losses




Our
management is aware of the abuses that have occurred historically in the penny
stock market. Although we do not expect to be in a position to dictate the
behavior of the market or of broker-dealers who participate in the market,
management will strive within the confines of practical limitations to prevent
the described patterns from being established with respect to our
securities.




While
Corporate Outfitters expects to apply for listing on the OTC Bulletin Board
(OTCBB), we may not be approved, and even if approved, we may not be approved
for trading on the OTCBB; therefore shareholders may not have a market to sell
their shares, either in the near term or in the long term, or both.




We can
provide no assurance to investors that our common stock will be traded on any
exchange or electronic quotation service. While we expect to apply to the OTC
Bulletin Board, we may not be approved to trade on the OTCBB, and we may not
meet the requirements for listing on the OTCBB.  If we do not meet the
requirements of the OTCBB, our stock may then be traded on the "Pink Sheets,"
and the market for resale of our shares would decrease dramatically, if not be
eliminated.




Corporate
Outfitters plans to purchase products Overseas, and is therefore subject to
risks related to currency fluctuations and regulation that may adversely affect
the Company.




A
significant aspect of the company's strategy is to purchase its products
overseas, mostly in China. There are certain risks inherent in doing business
internationally, such as unexpected changes in regulatory requirements, export
restrictions, trade barriers, difficulties in controlling product supply from
foreign factories, longer than anticipated delivery cycles, fluctuations in
currency exchange rates and overall political instability.







7





There can
be no assurance that one or more of such factors will not have a material
adverse effect on the company's potential future operations and, consequently,
on the company's business, operating results and financial
condition.




The
company may purchase its products and services in currencies other than the
United States Dollar, which would make the management of currency fluctuations
difficult and expose the company to risks in this regard. The company's results
of operations are subject to fluctuations in the value of various currencies
against the United States dollar. Although management will monitor the company's
exposure to currency fluctuations, there can be no assurance that exchange rate
fluctuations will not have a material adverse effect on the company's results of
operations or financial condition.




Furthermore
as a corporation based in the United States, Corporate Outfitters may face
difficulties in obtaining and/or enforcing local judgments it may obtain
overseas, particularly in China.




The
Company’s inability to source viable promotional products or apparel may result
in a loss of your investment.




There can
be no assurance that Corporate Outfitters will be able to source viable
promotional products or apparel that will be appealing to its target market.
Even if the company is capable of locating a viable line of promotional products
and apparel from China, it faces inherit risks in the ordering and delivery of
such products. The company would have little or no recourse against a Chinese
manufacturer that delivered substandard or faulty products and the company could
lose its entire investment.




Corporate
Outfitters has no customers to date, and may not develop sufficient customers to
stay in business.




Corporate
Outfitters has not sold any products, and may be unable to do so in the future.
In addition, if Corporate Outfitters is unable to develop sufficient customers
for its products, it will not generate enough revenue to sustain its business,
and may have to adjust its business plan, or it may fail.




These
risk factors, individually or occurring together, would likely have a
substantially negative effect on Corporate Outfitters' business and would likely
cause it to fail.




Forward-Looking
Statements




This
annual report contains forward-looking statements that involve risks and
uncertainties. Corporate Outfitters uses words such as anticipate, believe,
plan, expect, future, intend and similar expressions to identify such
forward-looking statements. You should not place too much reliance on these
forward-looking statements. Actual results are most likely to differ materially
from those anticipated in these forward-looking statements for many reasons,
including the risks faced as described in this Risk Factors section
above.




ITEM
1B. UNRESOLVED STAFF COMMENTS




None.





ITEM
2.    PROPERTIES.




Corporate
Outfitters, Inc.’s current address is 3327 West Indian Trail Road, Suite 152,
Spokane, WA 99208.  The Company currently owns no property and has no
plans to purchase any property within the next twelve months.




ITEM 3.    LEGAL
PROCEEDINGS.




Corporate
Outfitters, Inc. is not currently a party to any legal proceedings. The
Company’s agent for service of process in Delaware is:  The Company
Corporation, 2711 Centerville Rd., Suite 400, Wilmington DE 19808 – Phone (302)
636-5440.




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




None.




8




PART II




ITEM
5.    MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.




As of
date of this 10K the Company has 7,100,000 common shares issued and
outstanding.  2,000,000 of these shares are held by the sole officer
and director all of these shares are Restricted under Rule 144.  The
remaining 5,100,000 shares are held by approximately 53 individual shareholders;
of these, 100,000 shares are Restricted under Rule 144 and held by a
non-affiliated third-part with the remaining 5,000,000 shares being offered and
sold through the Company’s registered offering.  As of the date of
this annual report the registered offering has been fully subscribed and is
closed.  There is currently no market for the Company’s common
stock.  The Company plans seek quotation of its common stock on the
OTC bulletin Board for its Common Stock, as such; investors in our common stock
would experience difficulty in selling their shares.  Please see,
“RISK FACTORS” contained
herein.




Sales of Unregistered
Securities.    We have sold securities within the
past three years without registering the securities under the Securities Act of
1933 on two separate occasions.





In March
2007 Corporate Outfitters issued 2,000,000 shares of common stock for total
consideration of $5000.00 to David Taigen, current officer and director of the
Company. The Company believes that this issuance was exempt from registration
pursuant to Section 4(2) of the Securities Act of 1933, as amended, as a
transaction by an issuer not involving any public offering.




In March
2007 Corporate issued 100,000 shares of common stock to Jameson Capital, LLC for
services rendered to it. The Company believes that this issuance was exempt from
registration pursuant to Section 4(2) of the Securities Act of 1933, as amended,
as a transaction by an issuer not involving any public offering.




Sales of Registered
Securities.  The Company’s registration statement filed on Form
SB-2 was deemed effective on August 17, 2007 and subsequent Post Effective
Amendment was deemed affective on February 8, 2008 relating to the registration
of 5,000,000 common shares to be sold to the public at a price of $0.02 per
share. As of the date of this report all 5,000,000 common shares have been sold
to approximately 53 individual investors and the offering is fully subscribed
and closed.





Issuer Purchases of Equity
Securities.    None during the Fiscal Year Ended
March 31, 2008.





Dividends.    We
did not declare or pay dividends during the Fiscal Year Ended March 31,
2008.




ITEM 6.    SELECTED FINANCIAL
DATA.




Summary of Financial
Data




As
      of March 31, 2008Revenues
            
            $
            0Operating
      Expenses
            
            $
            (9,100)Earnings
      (Loss)
            
            $
            (9,100
            )Total
      Assets
            
            $
            7,625Total
      Liabilities
            
            $
            191Shareholder’s
      Equity
            
            $
            7,434





9




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




The
following discussion is intended to assist in the understanding and assessment
of significant changes and trends related to the results of operations and
financial condition of Corporate Outfitters, Inc. This discussion and analysis
should be read in conjunction with our consolidated financial statements and
notes thereto included elsewhere in this Annual Report on Form 10-K for the
fiscal year ended March 31, 2008.




Cautionary
Statement




This
notice is intended to take advantage of the "safe harbor" provided by the
Private Securities Litigation Reform Act of 1995 with respect to forward-looking
statements. Except for the historical information contained herein, the matters
discussed should be considered forward-looking statements and readers are
cautioned not to place undue reliance on those statements. The forward-looking
statements in this discussion are made based on information available as of the
date hereof and are subject to a number of risks and uncertainties that could
cause the Company's actual results and financial position to differ materially
from those expressed or implied in the forward-looking statements and to be
below the expectations of public market analysts and investors. These risks and
uncertainties include, but are not limited to, those discussed in
"Item 1A.—Risk Factors" under the heading "Factors Affecting Future
Operating Results". The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements to reflect events
or circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by applicable laws and
regulations.




Critical
Accounting Policies




The
preparation of our consolidated financial statements and notes thereto requires
management to make estimates and assumptions that affect the amounts and
disclosures reported within those financial statements. On an ongoing basis,
management evaluates its estimates, including those related to revenue
recognition, workers' compensation costs, collectibility of accounts receivable,
and impairment of goodwill and intangible assets, contingencies, litigation and
income taxes. Management bases its estimates and judgments on historical
experiences and on various other factors believed to be reasonable under the
circumstances. Actual results under circumstances and conditions different than
those assumed could result in differences from the estimated amounts in the
financial statements. There have been no material changes to these policies
during fiscal year.




Executive
Overview




Fiscal
year focus of the Company was primarily on preparing and filing the registration
statement on Form SB-2 in order to register 5,000,000 common shares to be sold
as a direct offering to the public at a price of $0.02 per share to fund the
anticipated business development activities and costs associated with
maintaining a reporting company status.




The
registration of the shares was deemed effective on August 8, 2007 and the
subsequent Post-Effective Amendment thereto was deemed effective on February 8,
2008.  As of the date of this report the Company has sold all
5,000,000 common shares it registered and offered to the public at a price of
$0.02 per share.  As such this offering is closed.




10




Shareholder
Transaction




During
the fiscal year, 2,000,000 shares of our Common Stock was purchased by our Chief
Executive Officer/Director, David Taigen and Jameson Capital, LLC received
100,000 shares in lieu of services rendered in August 2008.





·
            The
      size of the Company's Board of Directors was determined to be one;
      and


·
            Mr.
      Taigen was elected as the sole member of the Board of
      Directors.




Fiscal
Year Ended March 31, 2008




Revenue.The
Company has not generated any revenues.  As of the March 31, 2008 the
only proceeds received by the Company have been $5,000 through the sale of its
common stock to its sole director and officer and the sale of approximately
597,500 common shares through its registered offering.




Liquidity
and Capital Resources




We will
require significant amounts of working capital to take our company to level of
operations and to pay expenses relating to maintaining the status of a reporting
company including legal, accounting and filing fees.  As of March 31,
2008 we had $7,625 of cash available, subsequent to this time the Company raised
an approximately $90,000 through its registered offering.  The Company
believes it must raise additional proceeds in order to survive as a going
concern within the next six months or become operational in order to survive as
a going concern.  If we are unable to accomplish raising adequate
funds then it would be likely that any investment made into the Company would be
lost in its entirety.




Off-Balance
Sheet Arrangements




None.




ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.




We
currently do not have a market for our common stock.  We do not
currently hold any market risk sensitive instruments entered into for hedging
transaction risks related to foreign currencies. In addition, we have not
entered into any transactions with derivative financial instruments for trading
purposes.




11




ITEM
8.    FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA.




Report of Independent
Registered Public Accounting Firm
 
 
 To the
Board of Directors
 Corporate
Outfitters, Inc.
 Spokane
Washington
 
 
 We have
audited the accompanying balance sheets of Corporate Outfitters, Inc. (A
Development Stage Enterprise) as of March 31, 2008 and 2007 and the related
statements of operations, stockholders’ equity, and cash flows for the periods
then ended and the period March 9, 2007 (inception) through March 31,
2008.  These financial statements are the responsibility of the
Company's management.  Our responsibility is to express an opinion on
these financial statements based on our audit.
 
 We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company is not required to
have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audit included consideration of internal control over
financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company's internal control over financial
reporting.  Accordingly,   we express no such
opinion.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An
audit  also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by  management,
as well as evaluating the overall financial statement presentation. We believe
that our audit provide a reasonable basis for our opinion.
 
 In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of Corporate Outfitters, Inc. (A
Development Stage Enterprise) as of March 31, 2008 and 2007 and the results of
its operations and cash flows for periods then ended and the period March 9,
2007 (inception) through March 31, 2008, in conformity with U.S. generally
accepted accounting principles.
 
 The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern. As discussed in Note 2 to the financial
statements, the Company has limited operations and has no established source of
revenue.  This raises substantial doubt about its ability to continue
as a going concern. Management’s plan in regard to these matters is also
described in Note 2.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.
 
 
 
 Kyle L.
Tingle, CPA, LLC
 
 
 June 11, 2008
 Las Vegas, Nevada


F-1


CORPORATE
      OUTFITTERS, INCBALANCE
      SHEETSMarch
      31,
            
            
            March
      31,2008
            
            
            2007ASSETSCURRENT
      ASSETSCash
            
            $
            7,625
            
            
            $
            4,585Total
      Current Assets
            
            
            7,625
            
            
            
            4,585PROPERTY
      AND EQUIPMENT, NET OF DEPRECIATION
            
            
            -
            
            
            
            -TOTAL
      ASSETS
            
            $
            7,625
            
            
            $
            4,585LIABILITIES
      AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT
      LIABILITIESAccounts
      payable
            
            $
            190
            
            
            $
            -Related
      party payable
            
            
            1
            
            
            
            1Total
      Current Liabilities
            
            
            191
            
            
            
            1COMMITMENTS
      AND CONTINGENCIES
            
            
            -
            
            
            
            -STOCKHOLDERS'
      EQUITYCommon
      stock subscribed
            
            
            2,000
            
            
            
            -Common
      stock, $0.0001 par value;75,000,000
      shares authorized,2,597,500,
      and 2,100,000 shares issued and outstanding, respectively
            
            
            260
            
            
            
            210Additional
      paid-in capital
            
            
            15,690
            
            
            
            5,790Accumulated
      deficit
            
            
            (10,516
            )
            
            
            (1,416
            )Total
      Stockholders' Equity Deficit
            
            
            7,434
            
            
            
            4,584TOTAL
      LIABILITIES ANDSTOCKHOLDERS'
      EQUITY DEFICIT
            
            $
            7,625
            
            
            $
            4,585





F-2





CORPORATE
      OUTFITTERS, INCSTATEMENTS
      OF OPERATIONSMarch
      9, 2007Year
      Ended
            
            
            Year
      Ended
            
            
            (date
      of inception)March
      31
            
            
            March
      31
            
            
            to2008
            
            
            2007
            
            
            March
      31, 2008REVENUES
            
            $
            -
            
            
            $
            -
            
            
            $
            -OPERATING
      EXPENSESLegal
      and accounting
            
            
            6,350
            
            
            
            -
            
            
            
            6,350General
      and administrative expenses
            
            
            2,750
            
            
            
            1,416
            
            
            
            4,166Total
      operating expenses
            
            
            9,100
            
            
            
            1,416
            
            
            
            10,516LOSS
      FROM OPERATIONS
            
            
            (9,100
            )
            
            
            (1,416
            )
            
            
            (10,516
            )LOSS
      BEFORE TAXES
            
            
            (9,100
            )
            
            
            (1,416
            )
            
            
            (10,516
            )INCOME
      TAX EXPENSE
            
            
            -
            
            
            
            -
            
            
            
            -NET
      LOSS
            
            $
            (9,100
            )
            
            $
            (1,416
            )
            
            $
            (10,516
            )NET
      LOSS PER COMMON SHARE,BASIC
      AND DILUTED
            
            $
            (0.00
            )
            
            $
            (0.00
            )WEIGHTED
      AVERAGE NUMBEROF
      COMMON SHARES OUTSTANDING,BASIC
      AND DILUTED
            
            
            2,156,284
            
            
            
            2,100,000





F-3





CORPORATE
      OUTFITTERS, INCSTATEMENT
      OF STOCKHOLDERS' EQUITYAdditional
            
            
            Common
            
            
            
            
            
            TotalCommon
      Stock
            
            
            Paid-in
            
            
            Stock
            
            
            Accumulated
            
            
            Stockholders'Shares
            
            
            Amount
            
            
            Capital
            
            
            Subscribed
            
            
            Deficit
            
            
            EquityCommon
      stock issued for cashat
      $0.025 per share
            
            
            2,000,000
            
            
            $
            200
            
            
            $
            4,800
            
            
            $
            -
            
            
            $
            -
            
            
            $
            5,000-Common
      stock issued for services
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            -at
      $.01 per share
            
            
            100,000
            
            
            
            10
            
            
            
            990
            
            
            
            -
            
            
            
            -
            
            
            
            1,000-Net
      loss for the year ending
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            -March
      31, 2007
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            -
            
            
            
            (1,416
            )
            
            
            (1,416
            )-Balance,
      March 31, 2007
            
            
            2,100,000
            
            
            
            210
            
            
            
            5,790
            
            
            
            -
            
            
            
            (1,416
            )
            
            
            4,584Common
      stock issued for cashat
      $0.02 per share
            
            
            497,500
            
            
            
            50
            
            
            
            9,900
            
            
            
            -
            
            
            
            
            
            
            
            9,950Common
      stock subscribed
            
            
            -
            
            
            
            
            
            
            
            
            
            
            
            2,000
            
            
            
            
            
            
            
            2,000Net
      loss for the year ending
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            -March
      31, 2008
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (9,100
            )
            
            
            (9,100
            )-Balance,
      March 31, 2008
            
            
            2,597,500
            
            
            $
            260
            
            
            $
            15,690
            
            
            $
            2,000
            
            
            $
            (10,516
            )
            
            $
            7,434





F-4





CORPORATE
      OUTFITTERS, INCSTATEMENTS
      OF CASH FLOWSMarch
      9, 2007Year
      Ended
            
            
            Year
      Ended
            
            
            (date
      of inception)March
      31
            
            
            March
      31
            
            
            to2008
            
            
            2007
            
            
            March
      31, 2008CASH
      FLOWS FROM OPERATING ACTIVITIES:Net
      gain (loss)
            
            $
            (9,100
            )
            
            $
            (1,416
            )
            
            $
            (10,516
            )Common
      stock issued for services
            
            
            
            
            
            
            1,000
            
            
            
            1,000Adjustments
      to reconcile net loss to net cashprovided
      (used) by operating activities:Increase
      in accounts payable
            
            
            190
            
            
            
            -
            
            
            
            190Net
      cash provided (used) by operating activities
            
            
            (8,910
            )
            
            
            (416
            )
            
            
            (9,326
            )CASH
      FLOWS PROVIDED BY INVESTING ACTIVITIES:
            
            
            -
            
            
            
            -
            
            
            
            -CASH
      FLOWS PROVIDED BY FINANCING ACTIVITIES:Related
      party payable proceeds
            
            
            -
            
            
            
            1
            
            
            
            1Proceeds
      from common stock subscribed
            
            
            2,000
            
            
            
            -
            
            
            
            2,000Proceeds
      from sale of common stock
            
            
            9,950
            
            
            
            5,000
            
            
            
            14,950Net
      cash provided by financing activities
            
            
            11,950
            
            
            
            5,001
            
            
            
            16,951Net
      increase (decrease) in cash and cash equivalents
            
            
            3,040
            
            
            
            4,585
            
            
            
            7,625Cash
      at beginning of period
            
            
            4,585
            
            
            
            -
            
            
            
            -Cash
      at end of period
            
            $
            7,625
            
            
            $
            4,585
            
            
            $
            7,625-SUPPLEMENTAL
      CASH FLOW DISCLOSURES:Income
      taxes paid
            
            $
            -
            
            
            $
            -
            
            
            $Interest
      paid
            
            $
            -
            
            
            $
            -
            
            
            $




F-5
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
 
 
 NOTE
1 – DESCRIPTION OF BUSINESS
 
 Corporate
Outfitters, Inc. (“Company”) was organized on March 9, 2007 under the laws of
the State of Delaware.    The Company currently has no
operations and, in accordance with Statement of Financial Accounting Standard
(SFAS) No. 7, “Accounting and Reporting by Development Stage Enterprises,” is
considered a Development Stage Enterprise.
 
 The
Company plans to enter into the promotional branding industry with the objective
of adding value to a wide variety of products by endorsing them with the
corporate logos of a company for use by the company’s employees or as gifts or
promotional items.  The Company’s year-end is March 31.
 
 NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
 
 This
summary of significant accounting policies of Corporate Outfitters, Inc, is
presented to assist in understanding the Company’s financial
statements.  The financial statements and notes are representations of
the Company’s management, which is responsible for their integrity and
objectivity.  These accounting policies conform to accounting
principles generally accepted in the United States of America, and have been
consistently applied in the preparation of the financial
statements.
 
 Use of
Estimates
 The
process of preparing financial statements in conformity with accounting
principles generally accepted in the United States of America requires the use
of estimates and assumptions regarding certain types of assets, liabilities,
revenues, and expenses.  Such estimates primarily relate to unsettled
transactions and events as of the date of the financial
statements.  Accordingly, upon settlement, actual results may differ
from estimated amounts.
 
 Cash and Cash
Equivalents
 For
purposes of the statement of cash flows, the Company considers all highly liquid
investments and short-term debt instruments with original maturities of three
months or less to be cash equivalents.
 
 Derivative
Instruments
 The
Financial Accounting Standards Board issued Statement of Financial Accounting
Standards No. 133, “Accounting for Derivative Instruments and Hedging
Activities” (hereinafter “SFAS No. 133”), as amended by SFAS No. 137,
“Accounting for Derivative Instruments and Hedging Activities – Deferral of the
Effective Date of FASB No. 133”, and SFAS No. 138, “Accounting for Certain
Derivative Instruments and Certain Hedging Activities”, and SFAS No. 149,
“Amendment of Statement 133 on Derivative Instruments and Hedging
Activities”.  These statements establish accounting and reporting
standards for derivative instruments, including certain derivative instruments
embedded in other contracts, and for hedging activities.  They require
that an entity recognize all derivatives as either assets or liabilities in the
balance sheet and measure those instruments at fair value.
 
  F-6
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
 
 If
certain conditions are met, a derivative may be specifically designated as a
hedge, the objective of which is to match the timing of gain or loss recognition
on the hedging derivative with the recognition of (i) the changes in the fair
value of the hedged asset or liability that are attributable to the hedged risk
or (ii) the earnings effect of the hedged forecasted transaction. For a
derivative not designated as a hedging instrument, the gain or loss is
recognized in income in the period of change.
 
 At March
31, 2008, the Company has not engaged in any transactions that would be
considered derivative instruments or hedging activities.
 
 Earnings Per
Share
 The
Company has adopted Statement of Financial Accounting Standards No. 128, which
provides for calculation of "basic" and "diluted" earnings per
share.  Basic earnings per share includes no dilution and is computed
by dividing net income (loss) available to common shareholders by the weighted
average common shares outstanding for the period.  Diluted earnings
per share reflect the potential dilution of securities that could share in the
earnings of an entity similar to fully diluted earnings per
share.  Basic and diluted loss per share were the same, at the
reporting dates, as there were no common stock equivalents
outstanding.
 
 Fair Value of Financial
Instruments
 The
Company's financial instruments as defined by Statement of Financial Accounting
Standards No. 107, "Disclosures about Fair Value of Financial Instruments,"
include cash, trade accounts receivable, and accounts payable and accrued
expenses.  All instruments are accounted for on a historical cost
basis, which, due to the short maturity of these financial instruments,
approximates fair value at March 31, 2008.
 
 Provision for
Taxes
 Income
taxes are provided based upon the liability method of accounting pursuant to
Statement of Financial Accounting Standards No. 109 “Accounting for Income
Taxes.”  Under this approach, deferred income taxes are recorded to
reflect the tax consequences in future years of differences between the tax
basis of assets and liabilities and their financial reporting amounts at each
year-end.  A valuation allowance is recorded against deferred tax
assets if management does not believe the Company has met the “more likely than
not” standard imposed by SFAS No. 109 to allow recognition of such an asset. See
Note 5.
 
 Effective
November 1, 2007, the Company adopted the Financial Accounting Standards
Board (“FASB”) Interpretation No. 48, Accounting for Uncertainty in Income
Taxes—an interpretation of FASB Statement No. 109 (“FIN 48”). FIN 48
clarifies the accounting for uncertainty in income taxes recognized in an
enterprise’s financial statements in accordance with FASB Statement
No. 109, Accounting for
Income Taxes. FIN 48 prescribes a recognition threshold and measurement
attribute for the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return. Additionally, FIN 48
provides guidance on derecognition, classification, interest and penalties,
accounting in interim periods, disclosure, and transition. The adoption of FIN
48 did not have a material impact on the Company’s financial position, results
of operation or liquidity.  The current Company policy classifies any
interest recognized on an underpayment of income taxes as interest expense and
classifies any statutory penalties recognized on a tax position taken as
selling, general and administrative expense.
 
  F-7
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
 
 The
Company has not taken a tax position that, if challenged, would have a material
effect on the financial statements for the twelve-months ended March 31, 2008,
or during the prior three years applicable under FIN 48.
 
 As a
result of the adoption of FIN 48, we did not recognize any adjustment to
the liability for uncertain tax position and therefore did not record any
adjustment to the beginning balance of accumulated deficit on the consolidated
balance sheet.
 
 Going
Concern
 As shown
in the accompanying financial statements, the Company had an accumulated deficit
incurred through March 31, 2008.  The Company is currently attempting
to raise capital in order to finance the development of an Internet enabled
web-site capable of selling corporate promotional products which will, if
successful, mitigate these factors which raise substantial doubt about the
Company’s ability to continue as a going concern.  The financial
statements do not include any adjustments relating to the recoverability and
classification of recorded assets, or the amounts and classification of
liabilities that might be necessary in the event the Company cannot continue in
existence.
 
 Management
has established plans designed to initiate the sales of the Company’s
products.  The Company plans on continuing to reduce expenses, and
with small gains in any combination of network sales, direct sales,
international sales, and warehouse sales, believe that they will eventually be
able to reverse the present deficit.  Management intends to seek
additional capital from new equity securities offerings that will provide funds
needed to increase liquidity, fund internal growth and fully implement its
business plan.  Management plans include negotiations to convert
significant portions of existing debt into equity.
 
 An
estimated $250,000 to $350,000 is believed necessary to continue operations and
increase development through the next fiscal year.  The timing and
amount of capital requirements will depend on a number of factors, including
demand for products and services and the availability of opportunities for
international expansion through affiliations and other business
relationships.  Management intends to seek new capital from new equity
securities issuances to provide funds needed to increase liquidity, fund
internal growth, and fully implement its business plan.
 
  F-8
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
  
 Accounting
Pronouncements
  In March
2008, the Financial Accounting Standards Board issued Statement of Financial
Accounting Standards No. 161, “Disclosures about Derivative Instruments and
Hedging Activities—an amendment of FASB Statement No. 133” (SFAS No. 161). This
statement changes the disclosure requirements for derivative instruments and
hedging activities. Entities are required to provide enhanced disclosures about
(a) how and why an entity uses derivative instruments, (b) how derivative
instruments and related hedged items are accounted for under Statement 133
and its related interpretations, and (c) how derivative instruments and
related hedged items affect an entity’s financial position, financial
performance, and cash flows. This Statement is intended to enhance the current
disclosure framework in Statement 133. The Statement requires that
objectives for using derivative instruments be disclosed in terms of underlying
risk and accounting designation. This disclosure better conveys the purpose of
derivative use in terms of the risks that the entity is intending
to manage. Disclosing the fair values of derivative instruments and their
gains and losses in a tabular format should provide a more complete picture of
the location in an entity’s financial statements of both the derivative
positions existing at period end and the effect of using derivatives during the
reporting period. Disclosing information about credit-risk-related contingent
features should provide information on the potential effect on an entity’s
liquidity from using derivatives. Finally, this Statement requires
cross-referencing within the footnotes, which should help users of financial
statements locate important information about derivative
instruments.
 
 In
December 2007, the FASB issued Statement of Financial Accounting Standards No.
160 ("SFAS 160"), “Noncontrolling Interests in Consolidated Financial
Statements”, this statement requires that the ownership interests in
subsidiaries held by parties other than the parent be clearly identified,
labeled, and presented in the consolidated statement of financial position
within equity, but separate from the parent’s equity.  The amount of
consolidated net income attributable to the parent and to the noncontrolling
interest be clearly identified and presented on the face of the consolidated
statement of income.  Changes in a parent’s ownership interest while
the parent retains its controlling financial interest in its subsidiary be
accounted for consistently. A parent’s ownership interest in a subsidiary
changes if the parent purchases additional ownership interests in its subsidiary
or if the parent sells some of its ownership interests in its subsidiary. It
also changes if the subsidiary reacquires some of its ownership interests or the
subsidiary issues additional ownership interests. All of those transactions are
economically similar, and this Statement requires that they be accounted for
similarly, as equity transactions.  When a subsidiary is
deconsolidated, any retained noncontrolling equity investment in the former
subsidiary be initially measured at fair value. The gain or loss on the
deconsolidation of the subsidiary is measured using the fair value of any
noncontrolling equity investment rather than the carrying amount of that
retained investment. Entities provide sufficient disclosures that clearly
identify and distinguish between the interests of the parent and the interests
of the noncontrolling owners. This Statement is effective for fiscal years, and
interim periods within those fiscal years, beginning on or after December 15,
2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier
adoption is prohibited. The effective date of this Statement is the same as that
of the related Statement 141(R)
 
  F-9
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
 
 In
December 2007, the FASB issued Statement of Financial Accounting Standards No.
141R, “Business Combinations”, (SFAS No. 141R”). This statement changes the
accounting for business combinations. Under this statement, an acquiring entity
is required to recognize all the assets acquired and liabilities assumed in a
transaction at the acquisition-date fair value with limited exceptions. This
statement changes the accounting treatment and disclosure for certain specific
items in a business combination. This statement applies prospectively to
business combinations for which the acquisition date is on or after the
beginning of the first annual reporting period beginning on or after December
15, 2008. Accordingly, any business combinations we engage in will be recorded
and disclosed following existing generally accepted accounting principles (GAAP)
until January 1, 2009. We expect SFAS No. 141R will have an impact on accounting
for business combinations once adopted but the effect is dependent upon
acquisitions at that time.
 
 In
February 2007, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 159, “The Fair Value Option for Financial
Assets and Financial Liabilities - Including an amendment of FASB Statement No.
115” (hereinafter “SFAS No. 159”). This statement permits entities to choose to
measure many financial instruments and certain other items at fair value. The
objective is to improve financial reporting by providing entities with the
opportunity to mitigate volatility in reported earnings caused by measuring
related assets and liabilities differently without having to apply complex hedge
accounting provisions. This statement is expected to expand the use of fair
value measurement, which is consistent with the Board’s long-term measurement
objectives for accounting for financial instruments. This statement is effective
as of the beginning of an entity’s first fiscal year that begins after November
15, 2007, although earlier adoption is permitted. Management has not determined
the effect that adopting this statement would have on the Company’s financial
condition or results of operations.
 
 NOTE
3– CAPITAL STOCK
 
 Common
Stock
 The
Company is authorized to issue 75,000,000 shares of common stock.  All
shares have equal voting rights, are non-assessable and have one vote per
share.  Voting rights are not cumulative and, therefore, the holders
of more than 50% of the common stock could, if they choose to do so, elect all
of the directors of the Company.
 
 In its
initial capitalization in March 2007, the Company issued 2,100,000 shares of
common stock for a total of $5,000 in cash and $1,000 in services.
 
 During
the year ended March 31, 2008, the Company issued 497,500 shares of common stock
to investors at a price of $0.02 per unit in a private placement, for a total of
$9,950 in cash.  The Company also received $2,000 for subscribed stock
issued in April 2008.
 
  F-10
  CORPORATE
OUTFITTERS, INC.
 (A
Development Stage Enterprise)
 NOTES TO
THE FINANCIAL STATEMENTS
 MARCH 31,
2008
  
 NOTE
4 – RELATED PARTY TRANSACTIONS
 
 The sole
officer and director of the Company, loaned $1 to open the bank
account.  The amount is due on demand.  As of March 31,
2008, the officer has not made demand for the officer payable.
 
 NOTE
5 - PROVISION FOR TAXES
 We did
not provide any current or deferred U.S. federal income tax provision or benefit
for any of the periods presented because we have experienced operating losses
since inception. Per Statement of Accounting Standard No. 109 – Accounting for
Income Tax and FASB Interpretation No. 48 - Accounting for Uncertainty in Income
Taxes an interpretation of FASB Statement No.109, when it is more likely than
not that a tax asset cannot be realized through future income the Company must
allow for this future tax benefit.  We provided a full valuation allowance
on the net deferred tax asset, consisting of net operating loss carryforwards,
because management has determined that it is more likely than not that we will
not earn income sufficient to realize the deferred tax assets during the
carryforward period.  The components of the Company’s deferred tax
asset as of March 31, 2008 and 2007 are as follows:
 2008
              
              
              2007Net
      operating loss carryforward
              
              $
              3,681
              
              
              $
              496Valuation
      allowance
              
              
              (3,681
              )
              
              
              (496
              )Net
      deferred tax asset
              
              $
              0
              
              
              $
              0
  A
reconciliation of income taxes computed at the statutory rate to the income tax
amount recorded is as follows:
  2008
              
              
              2007
              
              
              SinceInceptionTax
      at statutory rate (35%)
              
              $
              3,185
              
              
              $
              496
              
              
              $
              3,681Increase
      in valuation allowance
              
              
              (3,185
              )
              
              
              (496
              )
              
              
              (3,681
              )Net
      deferred tax asset
              
              $
              0
              
              
              $
              0
              
              
              $
              0
 
 The net
federal operating loss carry forward will expire between 2027 and
2028.  This carry forward may be limited upon the consummation of a
business combination under IRC Section 381.
 
 NOTE
5 - SUBSEQUENT EVENTS
 
 Subsequent
to year end, the Company issued 4,402,500 shares of common stock to investors at
a price of $0.02 per unit through the private placement, for a total of $88,050
in cash.


F-11





ITEM 9.    CHANGES IN AND DISAGREEMENTS
WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.




None




ITEM
9A. CONTROLS AND PROCEDURES.




The
management of the Company is responsible for establishing and maintaining
adequate internal control over financial reporting, as required by
Sarbanes-Oxley (SOX) Section 404 A. The Company’s internal control over
financial reporting is a process designed under the supervision of the Company’s
Chief Executive Officer and Chief Financial Officer to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of the Company’s financial statements for external purposes in accordance with
U.S. generally accepted accounting principles.
  As of
March 31, 2008, management assessed the effectiveness of the Company’s internal
control over financial reporting based on the criteria for effective internal
control over financial reporting established in Internal Control—Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (“COSO”) and SEC guidance on conducting such assessments.  Based
on that evaluation, they concluded that, during the period covered by this
report, such internal controls and procedures were not effective to detect the
inappropriate application of US GAAP rules as more fully described below. This
was due to deficiencies that existed in the design or operation of our internal
control over financial reporting that adversely affected our internal controls
and that may be considered to be material weaknesses.
  The
matters involving internal controls and procedures that the Company’s management
considered to be material weaknesses under the standards of the COSO were: (1)
lack of a functioning audit committee and lack of a majority of outside
directors on the Company's board of directors, resulting in ineffective
oversight in the establishment and monitoring of required internal controls and
procedures; (2) inadequate segregation of duties consistent with control
objectives; (3) insufficient written policies and procedures for accounting and
financial reporting with respect to the requirements and application of US GAAP
and SEC disclosure requirements; and (4) ineffective controls over period end
financial disclosure and reporting processes. The aforementioned material
weaknesses were identified by the Company's Chief Financial Officer in
connection with the audit of our financial statements as of February 29, 2008
and communicated the matters to our management.
  Management
believes that the material weaknesses set forth in items (2), (3) and (4) above
did not have an affect on the Company's financial results. However, management
believes that the lack of a functioning audit committee and lack of a majority
of outside directors on the Company's board of directors, resulting in
ineffective oversight in the establishment and monitoring of required internal
controls and procedures can result in the Company's determination to its
financial statements for the future years.
  We are
committed to improving our financial organization. As part of this commitment,
we will create a position to  segregate duties consistent with control
objectives and will increase our personnel resources and technical accounting
expertise within the accounting function when funds are available to the
Company: i) Appointing one or more outside directors to our board of directors
who shall be appointed to the audit committee of the Company resulting in a
fully functioning audit committee who will undertake the oversight in the
establishment and monitoring of required internal controls and procedures; and
ii) Preparing and implementing sufficient written policies and checklists which
will set forth procedures for accounting and financial reporting with respect to
the requirements and application of US GAAP and SEC disclosure
requirements.
  Management
believes that the appointment of one or more outside directors, who shall be
appointed to a fully functioning audit committee, will remedy the lack of a
functioning audit committee and a lack of a majority of outside directors on the
Company's Board. In addition, management believes that preparing and
implementing sufficient written policies and checklists will remedy the
following material weaknesses (i) insufficient written policies and procedures
for accounting and financial reporting with respect to the requirements and
application of US GAAP and SEC disclosure requirements; and (ii) ineffective
controls over period end financial close and reporting processes. Further,
management believes that the hiring of additional personnel who have the
technical expertise and knowledge will result proper segregation of duties and
provide more checks and balances within the department. Additional personnel
will also provide the cross training needed to support the Company if personnel
turn over issues within the department occur. This coupled with the appointment
of additional outside directors will greatly decrease any control and procedure
issues the company may encounter in the future.
  We will
continue to monitor and evaluate the effectiveness of our internal controls and
procedures and our internal controls over financial reporting on an ongoing
basis and are committed to taking further action and implementing additional
enhancements or improvements, as necessary and as funds
allow.





ITEM
9B. OTHER INFORMATION.





None.




12





PART
III




ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS AND
CORPORATE GOVERNANCE.





Corporate
Outfitters, Inc.’s executive officer and director and his respective age as of
March 31, 2008 are as follows:




Directors:




Name of Director
            AgeDavid
      Taigen
            40




Executive
Officers:




Name of Officer
            Age
            OfficeDavid
      Taigen
            40
            President,
      Chief Financial Officer





The term
of office for each director is one year, or until the next annual meeting of the
shareholders.




Biographical
Information





Set forth
below is a brief description of the background and business experience of our
executive officer and director for the past year.





David Taigen,
President, Member of the Board of Directors,age 40.




Mr.
Taigen has been in the promotional apparel business for over 10 years. He began
his career in the industry as a Sales Representative for Northwest Athletics, a
specialty uniform and apparel maker in Spokane, WA, developing new business and
managing key accounts.   He was promoted to General Manager where
he supervised all aspects of the company from Sales & Marketing to
Accounting and Human Resources.  After five years at Northwest
Athletics, Mr. Taigen founded Corporate Outfitters (no relation to Corporate Outfitters,
Inc., the subject of this Annual; Report) in 2002.  As the
founder and owner of the company, Mr. Taigen oversaw all facets of the company’s
operation.  He established many key contacts with vendors and
equipment manufacturers.  After two successful years, Mr. Taigen sold
his company and was recruited to his current position as Sales Manager of Action
Sportswear in Spokane, WA.  In this role, Mr. Taigen is responsible
for managing the sales force, forecasting budgets, and personally handling all
large corporate accounts.




Mr.
Taigen will be able to spend up to 10 hours per week on the development of
Corporate Outfitters, Inc. at no cost to the Company.




Corporate
Outfitters' sole Officer and Director has not been involved, during the past
five years, in any bankruptcy proceeding, conviction or criminal proceedings;
has not been subject to any order, judgment, or decree, not subsequently
reversed or suspended or vacated, of any court of competent jurisdiction,
permanently or temporarily enjoining, barring, suspending or otherwise limiting
his involvement in any type of business, securities or banking activities; and
has not been found by a court of competent jurisdiction, the Commission or the
Commodity Futures trading Commission to have violated a federal or state
securities or commodities law.




13





ITEM
11.  EXECUTIVE COMPENSATION.




Summary Compensation
Table




Name
      and
              principal
      position
            
            Fiscal
              Year
            
            Salary
            
            
            Bonus
            
            
            Other
      annual compensation
            
            
            Restricted
              stock
              award(s)
            
            
            Securities
              underlying
              options/
      SARs
            
            
            LTIP
              payouts
            
            
            All
      other
              compensationDavid
      Taigen
              Director,
      President
            
            2008
            
            
            0
            
            
            
            0
            
            
            
            0
            
            
            
            0
            
            
            
            0
            
            
            
            0
            
            
            
            0





There has
been no cash payment paid to the executive officer for services rendered in all
capacities to us for the period ended March 31, 2008. There has been no
compensation awarded to, earned by, or paid to the executive officer by any
person for services rendered in all capacities to us for the fiscal period ended
March 31, 2008.  No compensation is anticipated within the next six
months to any officer or director of the Company.




Stock Option
Grants




Corporate
Outfitters did not grant any stock options to the executive officer during the
most recent fiscal period ended March 31, 2008.  The Company has also
not granted any stock options to the executive officer since incorporation,
March 9, 2007.





ITEM
12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
AND RELATED STOCKHOLDER MATTERS.





The
following table provides the names and addresses of each person known to
Corporate Outfitters to own more than 5% of the outstanding common stock as of
June 5, 2008 and by the officers and directors, individually and as a group.
Except as otherwise indicated, all shares are owned directly.




Title
      of class
            Name
      and address of beneficial
      owner
            Amount of beneficial
      ownership
            Percent of
  classCommon
      Stock
            David Taigen: 3327 West Indian
      Trail,
              Suite
      152 Spokane, WA 99208
            2,000,000
      shares
            28%




The
percent of class is based on 7,100,000 shares of common stock issued and
outstanding as of June 5, 2008.







14





ITEM
13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE.





During
Fiscal Year, there were no material transactions between the Company and any
Officer, Director or related party none of the following parties has, since the
date of incorporation, had any material interest, direct or indirect, in any
transaction with us or in any presently proposed transaction that has or will
materially affect us:




-The sole
Officer and Director;




-Any
person proposed as a nominee for election as a director;




-Any
person who beneficially owns, directly or indirectly, shares carrying more than
5% of the voting rights attached to the outstanding shares of common
stock;




-Any
relative or spouse of any of the foregoing persons who have the same house as
such person.




In March
2007, the Company issued 100,000 restricted shares of common stock to Jameson
Capital, LLC for $1,000 of services.  Value was determined as an arms
length transaction between non-related parties.




Any
future transactions between us and our Officers, Directors, and Affiliates will
be on terms no less favorable to us than can be obtained from unaffiliated third
parties. Such transactions with such persons will be subject to approval of our
Board of Directors.





ITEM
14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.





As of
March 31, 2008 the Company has incurred auditing expenses (accounting and
bookkeeping) of $6,350.  We have incurred filing and consulting fees
relating to the our reporting requirements of $2,580. Moreover, the Company
anticipates being billed $3,950 for audit services relating to this annual
report and an additional $2,950 in filing and consulting fees. The Company’s
auditor is, Kyle Tingle, CPA, LLC.








15





PART
IV




ITEM 15.  EXHIBITS AND FINANCIAL STATEMENT
SCHEDULES.




(a) 
The following documents have been filed as a part of this Annual Report on
Form 10-K.








1.
            
            Financial
      StatementsReport
      of Independent Registered Public Accounting FirmBalance
      SheetsStatements
      of OperationsStatements
      of Stockholders' EquityStatements
      of Cash FlowsNotes
      to Financial Statements


2.


Financial
Statement Schedules.


All
schedules are omitted because they are not applicable or not required or because
the required information is included in the Financial Statements or the Notes
thereto.


3.


Exhibits.


The
following exhibits are filed as part of, or incorporated by reference into, this
Annual Report:





EXHIBIT


NUMBER
            DESCRIPTION





3.1
            Articles
      of Incorporation are incorporated herein by reference to Form SB-2, filed
      on July 31, 2007.





3.2
            By-Laws
      Incorporation are incorporated herein by reference to Form SB-2, filed on
      July 31, 2007.







31.1
            
            8650
      SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL
      OFFICER32.1
            
            4700
      CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
      SECTION








16





SIGNATURES





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





CORPORATE
      OUTFITTERS, INC.By:
            /s/  DAVID
      TAIGEN
              DAVID
      TAIGEN
              President
              Chief
      Executive Officer
              Chief
      Financial Officer
              Chief
      Accounting Officer
              Secretary,
      Director
              
              Date:
      June 28, 2008


17