U.S.
      SECURITIES AND EXCHANGE COMMISSION


Washington,
      D.C. 20549





FORM
      10-KSB





[X]
            ANNUAL
                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
                1934
                for the period ended December 31,
                2005





[
                ]
            TRANSITION
                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
                1934
                for the transition period from _______ to
                _______





Commission
      File No. 000-50701





HOUSERAISING,
      INC.


(Exact
      name of small business issuer as specified in its charter)





North
                Carolina
            56-2253025(State
                or other jurisdiction of
            (IRS
                Employer identification No.)incorporation
                or organization)







4801
      East Independence Road, Suite 201, Charlotte, North Carolina
      28212


(Address
      of principal executive offices)





(704)
      532-2121


(Issuer's
      telephone number)





Securities
      registered under Section 12(b) of the Act:





NONE





Securities
      registered under Section 12(g) of the Act:





Common
      stock (par value $.001 per share)





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





Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B is not contained in this form, and no disclosure will be
      contained, to the best of registrant’s knowledge, in definitive proxy or
      information statements incorporated by reference in Part III of this form 10-KSB
      or any amendment to this Form 10-KSB. x





The
      aggregate market value of the common shares (based on the closing price) held
      by
      non-affiliates of the registrant on


March
      15,
      2006 was approximately $6,027,335.





Number
      of
      shares of common stock outstanding as of March 15, 2006: 45,740,352


Number
      of
      shares of preferred stock outstanding as of March 15, 2006:
      1,000,000








-1-







REPORTS
      TO SECURITY HOLDERS





We
      are a
      reporting company under the requirements of the Securities Exchange Act of
      1934
      and will file quarterly, annual and other reports with the Securities and
      Exchange Commission. This annual report contains the required audited financial
      statements. We are not required to deliver an annual report to security holders
      and will not voluntarily deliver a copy of the annual report to security
      holders, except in connection with our annual meeting of shareholders.. The
      reports and other information filed by us will be available for inspection
      and
      copying at the public reference facilities of the Commission, 100 F Street,
      N.E., Washington, D.C. 20549.





Copies
      of
      such material may be obtained by mail from the Public Reference Section of
      the
      Commission at 100 F Street, N.E., Washington, D.C. 20549, at prescribed rates.
      Information on the operation of the Public Reference Room may be obtained by
      calling the SEC at 1-800-SEC-0330. In addition, the Commission maintains a
      World
      Wide Website on the Internet at http://www.sec.gov that contains reports, proxy
      and information statements and other information regarding registrants that
      file
      electronically with the Commission.


























The
      rest of this page is left intentionally blank














-2-


HOUSERAISING,
      INC.


FORM
      10-KSB





For
      the
      Year ended December 31, 2005





TABLE
      OF
      CONTENTS


PageCautionary
                Statement and Risk Factors that May Affect Future Results
            4PART
                IITEM
                1.
            Business
            5ITEM
                2.
            Property
            8ITEM
                3.
            Legal
                Proceedings
            8ITEM
                4.
            Changes
                in Securities
            8ITEM
                5.
            Submission
                of Matters to a Vote of Security Holders
            9PART
                IIITEM
                6.
            Market
                for Registrants Common Equity and Related Stockholder
                Matters
            9ITEM
                7.
            Selected
                Financial Statements
            11Balance
                Sheet - December 31, 2005 (audited)
            12Statements
                of Operations - Year Ended December 31, 2005 and 2004
                (audited)
            13Statements
                of Cash Flows - Year Ended December 31, 2005 and 2004
                (audited)
            14Notes
                to Financial Statements (audited)
            16ITEM
                8.
            Management’s
                Discussion and Analysis of Financial Condition and Plan of
                Operations
            23ITEM
                9.
            Changes
                in and Disagreements with Accountants on Accounting and Financial
                Disclosure
            26ITEM
                9A.
            Controls
                and Procedures
            26ITEM
                9B.
            Other
                Matters
            27PART
                IIIITEM
                10.
            Directors,
                Executive Officers of the Registrant
            28ITEM
                11.
            Executive
                Compensation
            28ITEM
                12.
            Security
                Ownership of Certain Beneficial Owners and Management
                RelatedStockholder
                Matters
            29ITEM
                13.
            Certain
                Relationships and Related Transactions
            29ITEM
                14.
            Principal
                Accountant Fees and Services
            29PART
                IVITEM
                15.
            Exhibits
                and Reports on Form 8-K
            30Signatures
            31







-3-


**Cautionary
      Statement and Risk Factors that May Affect Future Results**





This
      report and other presentations made by HouseRaising, Inc. (“HRI” or “Company”)
      and its subsidiaries contain “forward-looking statements,” which include
      statements that are predictive in nature, depend upon or refer to future events
      or conditions, and usually include words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “will,” “predicts,” “estimates,” “we believe,”
“the Company believes,” “management believes” or similar expressions. In
      addition, any statements concerning future financial performance (including
      future revenues, expenses, earnings or losses or growth rates), ongoing business
      strategies or prospects and possible future actions are also forward-looking
      statements. Forward-looking statements are based on current expectations and
      projections about future events and are subject to risks, uncertainties and
      the
      accuracy of assumptions concerning HRI and its subsidiaries, the performance
      of
      the industries in which it does business and economic and market factors, among
      other things. **These
      forward-looking statements are not guarantees of future
      performance.**





Risks,
      uncertainties and other important factors that could cause actual results to
      differ materially from those in forward-looking statements and from historical
      results include, but are not limited to, the following:





·
            the
                effect of changes in general and local economic and market conditions
                where our operations are conducted and where prospective purchasers
                of
                homes live;


·
            the
                effects of weather and natural disasters or global developments,
                including
                the effects of terrorist acts and war on terrorism negatively affecting
                local homebuilding industry and adversely affecting new home installation
                market;


·
            the
                timing and extent of changes in interest
                rates;


·
            negative
                trends in residential homebuilding adversely affecting our
                business;


·
            actions
                by competitors that negatively affect us—the homebuilding market is
                extremely competitive, characterized by competition from a number
                of
                homebuilders in each market in which we operate, and there are few
                barriers to entry;


·
            no
                assurance that the Company will be able to recruit quality homebuilders
                and sales personnel in order to meet the goals set forth in its business
                plan and planned rollout of Zone
                operations;


·
            no
                assurance that anticipated acquisitions will materialize and/or be
                successfully integrated into
                operations;


·
            the
                risks of suffering losses that are uninsured—construction defect and home
                warranty claims arising in the ordinary course of business are common
                in
                the homebuilding industry and can be costly; if we are not able to
                obtain
                adequate insurance against these claims, we may experience losses
                that
                could hurt our business;


·
            the
                effects of changes in accounting principles applicable to HRI and
                its
                subsidiaries;


·
            given
                the prominence of the automated design/build system in HRI’s operations
                and business plan, there is a risk that the Company may not complete
                the
                automated design/build system or generate significant retail sales
                in the
                future;


·
            while
                the company has filed a patent registration to protect its intellectual
                property, until patent pending has been issued, HRI’s technology and
                software are at risk of being copied by
                competitors;


·
            HRI’s
                success is heavily dependent upon the continued active participation
                of
                its President, Robert V. McLemore;


·
            our
                common stock trades on the over-the-counter market and is subject
                to high
                volatility; future sales of common stock could adversely affect the
                stock
                price;


·
            HRI
                provides S-8 shares as compensation for services rendered which could
                impact stock volatility and future
                issuance;


·
            principal
                stockholders control business affairs which means investors will
                have
                little or no participation in
                business;


·
            the
                risk that an investor in the Company will never see a return on investment
                and the stock may become worthless;


·
            the
                risk that the Company will be unable to obtain needed capital or
                unable to
                establish credit arrangements or extend existing arrangements on
                satisfactory terms, which would require it to curtail
                operations;


·
            to
                the extent additional capital is raised through the sale of equity
                and/or
                convertible debt securities, this could result in dilution to shareholders
                and/or increased debt service;


·
            we
                have never paid dividends and do not intend to pay dividends for
                the
                foreseeable future given need to retain earnings to finance the
                development and expansion of the
                business;


·
            federal
                and state governmental and regulatory actions, such as changes in
                laws,
                rules and regulations applicable to HRI and its subsidiaries (including
                changes in taxation, environmental laws and regulations, immigration
                laws,
                occupational safety and health acts, workmen’s compensation statutes,
                unemployment insurance and governmental fees and
                assessments);


·
            HRI
                is a development stage company that has an independent auditor’s report
                for fiscal 2005 that raises doubt about its ability to continue as
                a going
                concern (see independent auditor’s report and notes on management’s plan
                for more details);


·
            other
                risks or uncertainties described elsewhere in this report and in
                other
                periodic reports previously and subsequently filed by HRI or its
                predecessor company with the Securities and Exchange Commission
                (SEC).





Forward-looking
      statements speak only as of the date of the report, presentation or filing
      in
      which they are made. Except to the extent required by the federal securities
      laws, HRI and its subsidiaries undertake no obligation to publicly update or
      revise any forward-looking statements, whether as a result of new information,
      future events or otherwise.




-4-


**PART
      I**





**ITEM
      1. BUSINESS.**





**General**





HouseRaising,
      Inc., a Delaware corporation, was organized in 1999 by Robert V. McLemore,
      founder and president. HouseRaising’s founder formed the company to develop a
      design/build business process capable of turning complicated pre-sold
      homebuilding projects into predictable experiences for buyers and builders.
      Utilizing four decades of experience in the design/build industry and state
      of
      the art technology, Mr. McLemore has turned those experiences into a patent
      pending framework capable of bringing predictability to pre-sold design/build
      and renovation projects. On August 31, 2004, HouseRaising, Inc., merged with
      Technology Connections, Inc., a North Carolina corporation and publicly traded
      company, and Technology Connections, Inc. changed its name to HouseRaising,
      Inc.
      HouseRaising, Inc., a North Carolina corporation (“HRI” or “Company”), is the
      issuer filing this annual report on Form 10-KSB.




When
      this
      section uses the words “the company,” "we," "us," and "our," it refers to
      HouseRaising, Inc. and its subsidiaries, unless the context otherwise requires.
      The Company’s principal executive offices are located at 4801 East Independence
      Boulevard, Suite 201, Charlotte, North Carolina 28212. Its telephone number
      is
      (704) 532-2121.





**HRI
      Business:**





HouseRaising,
      Inc. owns a proprietary invention created to alter and improve the way custom
      homes are designed and built. The invention serves to connect hundreds of small
      builders and thousands of vendors to homebuyers in a revolutionary process.
      The
      invention has been developed into internal-use software. In early 2005, the
      company filed patent applications on its invention and expects to begin
      producing revenues utilizing the software in 2006.





HouseRaising
      is a development stage company and has gross revenues of $584,654, net revenues
      of $86,969 and net loss of $(4,120,994) in fiscal 2005. HRI is in the business
      of selling, designing and managing design/build and renovation projects and
      homebuilding solutions in the residential homebuilding market for homebuyers
      and
      homebuilders. HouseRaising’s core business is to create revenues and profits
      from use of its proprietary software functioning exclusively within the custom
      homebuilding arena. Unlike technology companies that sell or license software,
      HouseRaising owns its patent-pending software and maintains full control over
      its use. The management software is used as a tool to define 3,400 tasks in
      the
      designing and building process and as a school to cause precise steps to be
      performed in each task. Accountability that tasks are performed correctly is
      an
      integral part of the expert management system.





**The
      HouseRaising Community:**





The
      HouseRaising community consists of participants in: (1) membership programs;
      (2)
      affiliated builder programs; (3) homeowner programs; (4) affiliated vendor
      programs; (5) employee programs and (6) investor and public relations programs.
      Through separate contracts, agreements and filings, HouseRaising provides
      certain benefits derived from its intellectual assets to the six participants
      functioning within HouseRaising’s community. HouseRaising provides these
      benefits conditioned upon Participant’s understanding that HouseRaising does not
      sell, license or in anyway permit Participants to modify, copy or alter their
      specific and contractual use of the service. Participants agree to not disclose
      and to keep confidential HouseRaising’s intellectual properties and trade
      secrets.





**How
      We Do It:**





At
      a cost
      of over $10 million, HouseRaising developed 4 decades and thousands of custom
      homebuilding experiences into a management system and support process. Builders
      are provided access to the Internet-based operation through fee structured
      memberships. HouseRaising converts a portion of the HR builder-members into
      HouseRaising affiliated relationships. The affiliated builders and their
      customers contract with HouseRaising to manage the building of their dream
      home.





The
      HouseRaising system represents a tried and proven method that provides users
      a
      way to manage emotional issues faced in every design/build project. Regardless
      of the price, style or location of the home under contract, the management
      process is the same. Turning a complicated custom home project into an organized
      and manageable project becomes a process of HouseRaising’s staff importing
      required data into the system. Through contracts, forms, reports and online
      educational components, the software automatically assigns precise steps and
      procedures that each party will follow. This process allows homebuyers and
      builders to conduct business fairly and enjoyably, building complicated projects
      at fair prices.





-5-


**Customer
      Value Proposition:**





HouseRaising
      reduces the cost of unique homes through its patent-pending Design & Price
      ModuleTM and management system. Additional savings occur from HouseRaising’s
      network of affiliated vendors on the national, zone and local levels.


By
      combining the needs of thousands of small builders and homebuyers, HRI produces
      economies of scale that reduce direct and indirect costs of the project.
      Depending on the design structure selected by the homeowners, System C can
      lower
      the home’s total costs by up to 10%.





**HRI
      Revenue Streams:**





Due
      to
      technological advantages designed into its software, HouseRaising is a
      multi-faceted company with operating revenues from four separate sources and
      marketing strategies. Each revenue source serves the design/build segment of
      the
      homebuilding industry.





(1) ***Revenues
      from Custom Homebuilding Operations:*** Operating within zone territories through a wholly-owned subsidiary,
      HouseRaisingUSA, LLC, HRI designs and builds custom homes and renovations for
      homeowners. The company has sales efforts underway in the Carolinas and has
      recently initiated sales efforts in the Gulf Coast area. HouseRaising has
      identified an additional 30 potential zone locations nationally. Revenues
      represent the sales price of these projects as completed.





(2) ***Revenues
      from Builder-Memberships:*** HouseRaising creates revenues by offering membership opportunities to the
      approximate 250,000 licensed homebuilders operating in the United States through
      a wholly-owned subsidiary, HouseRaisingMembership, LLC. HouseRaising believes
      that 25,000 homebuilders could reasonably become members and benefit from
      educational materials and financial advantages. Members receive savings through
      insurance programs and from economies of scale created by HouseRaising’s vendor
      relationships. This Internet-based revenue stream represents the price builders
      pay HouseRaising for memberships.





(3) ***Revenues
      from Satellite Homebuilding Services:*** Operating outside of established zone territories, HouseRaising performs the
      role of general manager of projects through satellite or independent builder
      relationships. On a national basis, satellite and independent builders contract
      to have HouseRaising design, price and manage home projects with its software.
      This revenue stream represents fees charged independent builders as a percentage
      of the sales price of the project.





(4) ***Revenues
      from HouseRaisingAcademy (“HRA”):*** HRA is a
      wholly-owned subsidiary that was formed through the acquisition of assets and
      intellectual capital of LearnBytes, LLC in mid-2005. HRA is focused on
      developing and managing HouseRaising’s unique managed service software. The
      Academy’s team of specialists and IT experts manage the Academy as a “tool” and
      a “school” utilized by HRI entities on all projects. HRA receives a service fee
      on the price of all design/build projects. There will be opportunity to earn
      fees through certifying builders and through seminar fees from both homebuyers
      and homebuilders who want to learn more about the custom homebuilding industry
      via the Internet.





**HRI
      Market Potential:**





Management
      estimates that there is a substantial market for its design/build services,
      which will be accessed through affiliated relationships with small, hands-on
      builders who commit to conduct the business of building homes the HouseRaising
      way. Management believes this market exists based on the size of the current
      design/build market and its anticipated growth over the next five years. Of
      the
      500,000 custom-home projects built by approximately 250,000 small builders
      in
      America each year, every one of them could benefit from HouseRaising’s managed
      services. Routinely, design/build projects begin as contracts with
      small-to-medium sized homebuilding contractors who commit to build these
      complicated projects. However, these builders fail at alarming rates and their
      homebuyers claim the building experiences were nightmares. HouseRaising’s
      proprietary process allows small builders to predict outcomes of their pre-sold
      projects. A 1% share of this market equals approximately $2.5 billion in home
      sales. HouseRaising is developing the first version of its software to target
      a
      1% market share of custom home projects.





**The
      HR Builder Story:**





Throughout
      the country, custom homebuyers will continue to purchase lots and build primary
      and secondary homes. They are building in resort areas, on special lots
      purchased in the mountains and in coastal areas where they design and build
      the
      home of their dreams. Additionally, families living in urban and suburban areas
      throughout America will continue to locate further and further away from large
      metropolitan areas. Developers are finding customers to purchase lots in golf
      course communities developed in rural areas, which entail drives of close to
      an
      hour from the city.





-6-


If
      you
      help a builder of custom homes save money on purchasing materials, you assist
      him in reducing the costs of a project. However, in addition to those savings,
      if you help him learn how to embrace and overcome the many obstacles in the
      custom-home business you have provided the builder a pathway to success. By
      combining the needs of many small builders into a national membership
      organization, business opportunities occur that were never available before.
      When these things occur, HouseRaising has helped a small builder create a career
      that can last a lifetime.





**A
      Builder’s Home:**





HouseRaising
      is a place where builders go to find solutions, to get support, to share ideas
      and to gain knowledge. Creative builders seeking to build special homes for
      caring families come to HouseRaising for support and assistance. Today,
      HouseRaising is that team leader- operating as a 21st Century company focused
      on
      recreating the proud tradition of organizing groups of experts helping customers
      design and build unique homes “for all the right reasons.”





**HouseRaising
      Promotes Hand-Built Homes Designed to Last for
      Centuries:**





Unlike
      today’s tract builders and homes with factory-built components, HouseRaising
      utilizes a 200 year-old tradition of bringing men and women together to
      hand-build quality homes. Just as it was done at the turn of the 20th Century,
      each HouseRaising home is built one piece of wood, brick or stone at a time
      by
      old-time craftspeople who take pride in their work. What is so exciting about
      HouseRaising’s labor-intensive approach is that our homes are of the highest
      quality, yet, when all is done and the homes are ready to occupy, their costs
      are lower than pre-manufactured off-site built dwellings.





To
      gain
      additional understanding of the effectiveness of our building style, just visit
      inner cities throughout America today and see the homes built between 1910
      and
      1940 that are now being purchased by young families who are renovating them
      into
      almost brand new homes. These renovations are feasible because the 65 to 95
      year
      old homes were not built with prefabricated or packaged components; they were
      hand-built on site to last for many generations. HouseRaising fosters handmade
      homebuilding and renovation activities that replace machines and cranes with
      quality craftspeople working on the site. What better way to create jobs than
      to
      build quality residences with lasting value by recruiting and training quality
      builder-craftsmen who care about their work.





**Who
      Pays HRI?:**





Builders
      pay HouseRaising to join as a member and pay monthly membership fees. If members
      in good standing convert to satellite or associate builder relationships,
      HouseRaising is paid for support and services from the total amount due builder
      in the contract price of the project. In other words, other than membership
      fees, homebuyers pay HouseRaising through designing and building quality
      projects with the assistance of affiliated vendors and builders. Key to
      HouseRaising’s success, the contract price of the home, including the amount
      paid to HR for management platform services provided directly to the project,
      represents a savings to the buyers of close to 10% over comparable prices from
      independent builders.





**Competition:**





The
      homebuilding business is highly competitive and fragmented. However,
      HouseRaising’s competition is not the large national homebuilders, we compete
      with the small craftsman or craftswoman builders that bid against other small
      builders for projects provided by customers. Currently, we know of no companies
      developing the type affiliations and support structure HouseRaising offers
      small
      builders.





**Regulation
      and Environmental Matters:**





Since
      HouseRaising does not develop subdivisions or communities, the company is less
      effected by environmental and regulation matters. We are subject to various
      local, state and federal statutes, ordinances, rules and regulations concerning
      zoning, building designs, construction and similar matters. In addition, we
      are
      subject to various licensing, registration and filing requirements in connection
      with construction, advertising and sale of design/build projects in our regional
      operations. We are also subject to a variety of local, state and federal
      statutes, ordinances, rules and regulations concerning protection of public
      health and the environment. We maintain a policy of engaging engineers and
      environmental consultants to evaluate certain sites located in environmental
      sensitive areas.





**Outlook
      for Homebuilding is Positive:**





The
      homebuilding industry is enjoying record sales and has done so for close to
      a
      decade. Moderate interest rates coupled with population growth, forming millions
      of new households each year has created record profits for the nation’s largest
      builders. HouseRaising’s research indicates the current level of homebuilding
      throughout America is sustainable as long as interest rates stay between 6%
      and
      7%. Based on our experience, the custom homebuilding sector of the industry
      has
      shown resounding resilience of constructing about 500,000 homes a year
      regardless of whether or not the overall industry has gone up or down. Whatever
      the outcome of interest rates and the economy, it is obvious that custom
      homebuilding should remain brisk for the foreseeable future.





-7-


**ITEM
      2. PROPERTY.**





We
      do not
      own any property nor do we have any contracts or options to acquire any property
      in the future. Our corporate headquarters is currently located at 4801 E.
      Independence Blvd., Charlotte, NC 28212, and we occupy that space pursuant
      to a
      month to month agreement requiring the payment of $8,150 per month.





**ITEM
      3. LEGAL PROCEEDINGS.**





In
      November 2004, Robert V. McLemore, President and Founder of HouseRaising,
      entered into a personal contract whereby he agreed to sell Nite Capital, LP,
      an
      investment firm based in Chicago, Illinois, a certain number of shares of his
      personal stock in return for Nite Capital’s agreement not to sell the shares for
      a set period of time and not to short sell the shares. It is Mr. McLemore’s
      belief that Nite Capital defaulted on this contract, and, as a result, McLemore
      refused to complete the transaction until a review of the short selling
      activities of Nite Capital and its princ ipals
      could be completed. In connection with such review, HouseRaising filed a
      complaint with the NASD which requested an investigation into what management
      termed a “wave of coordinated naked short selling” in HouseRaising’s common
      stock over a three month period of time. Management of HouseRaising believes
      that this coordinated effort may have violated NASD rules, as well as applicable
      federal securities laws.





As
      a
      result of Mr. McLemore’s and HouseRaising’s actions, on June 27, 2005 Nite
      Capital filed a complaint in the U.S. District Court for the Northern District
      of Illinois, Eastern Division, against Robert V. McLemore and HouseRaising,
      in a
      matter captioned as Nite Capital, LP, Plaintiff v. Robert V. McLemore and
      HouseRaising, Inc., Defendants, 05C 3757. The complaint alleges, among other
      things, a breach of contract by the Defendants and seeks damages, jointly and
      severally, in an amount at least equal to $353,320, as well as punitive
      damages.





As
      mentioned above, the terms of the contract at issue are disputed by the
      Defendants, and HouseRaising reports that it was not even a party to the alleged
      contract. Mr. McLemore and HouseRaising have retained Sugar, Friedberg and
      Felsenthal, LLP, counsel admitted to practice in the U.S. District Court for
      the
      Northern District of Illinois, and intend to vigorously defend this action.
      The
      Company filed for a dismissal of the claims against it on August 23, 2005 and
      is
      awaiting a decision on this matter. The Company believes the claims against
      it
      amount to a thinly disguised effort to insert HouseRaising into a dispute
      between two private parties. The complaint was first served on the Defendants
      on
      July 13, 2005.





**ITEM
      4. CHANGES IN SECURITIES**





During
      the quarter ended December 31, 2005, the company provided restricted stock
      for
      services rendered. The Company provided Pentony Enterprises, LLC 32,000
      restricted shares for business consulting services associated with
      implementation of the company’s business plan. The Company provided Mordechai
      Friedman 500,000 restricted shares for business consulting services associated
      with working with existing contacts and developing future contacts in the
      investment industry to introduce the Company and improve investor awareness.
      The
      Company provided Steven Smith 43,750 restricted shares as the accrued portion
      of
      a retention payment upon his early departure from the company. The Company
      has
      previously reported other restricted stock and warrants paid for services
      rendered during 2005 as reported on SEC Form 10-QSB filed August 15, 2005 and
      SEC Form 10-QSB filed November 15, 2005.





As
      previously reported on SEC Form 8-K on September 26, 2005 the company commenced
      a private offering of common stock and warrants in an amount equal to
      approximately $3.5 million that is intended to be exempt from registration
      pursuant to Rule 506 of Regulation D under the Securities Act of 1933, as
      amended (‘the Act’). During the quarter ended December 31, 2005, the company
      sold one unit consisting of 200,000 shares of common stock and an equal number
      of warrants to one accredited investor as defined in Rule 501(a) for $100,000.
      Neither the shares of common stock sold nor the shares underlying the warrants
      are entitled to any registration rights and the investors will rely on Rule
      144
      under the Act in order to sell the shares of common stock on the
      Over-the-Counter Bulletin Board after satisfying the Rule’s one-year holding
      period and other requirements.





In
      2006,
      the Company offered its bridge lenders the opportunity to convert their
      outstanding notes payable into
      shares of common stock and warrants on the same terms as the Company’s Private
      Placement Memorandum. As of this filing, three of the lenders have agreed to
      this conversion, which would call for the issuance of 365,000 shares of common
      stock and an equal amount of warrants in exchange for a reduction of $182,500
      in
      bridge loans. Each of the bridge lenders is accredited investor as defined
      in
      Rule 501(a) of Regulation D under the Act. These conversions will be reflected
      on the Company’s 1 st quarter,
      2006 financial statements. The Company believes that such offering is exempt
      from registration pursuant to Rule 506 under Regulation D.





-8-


**ITEM
      5. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**





None.





**PART
      II**





**ITEM
      6. MARKET FOR REGISTRANTS’ COMMON EQUITY AND RELATED STOCKHOLDER
      MATTERS**





Our
      stock
      is qualified for quotation on the over the counter bulletin board under the
      symbol "HRAI", formerly “TLGY”(1) in 2003. During the 2004 through 2005 period,
      the Company's common stock traded on the Over-the-Counter Bulletin Board. The
      range of high and low bid quotations for the Common Stock for the two most
      recently completed fiscal years and the current fiscal year are provided below.
      The volume of trading in the Company's Common Stock has been limited and the
      bid
      prices as reported may not be indicative of the value of the Common Stock or
      of
      the existence of an active trading market. These over-the-counter market
      quotations were provided by the Over-the-Counter Bulletin Board and may not
      necessarily represent actual transactions; they reflect inter-dealer prices
      without retail markup, markdown or commissions.





2004
                Fiscal Year
            High
                Bid
            Low
                Bid----------------------First
                Quarter
            $
                0.65
            $
                0.12Second
                Quarter
            $
                0.70
            $
                0.15Third
                Quarter (2)
            $
                1.01
            $
                0.14Fourth
                Quarter (2)
            $
                3.15
            $
                0.232005
                Fiscal Year
            High
                Bid
            Low
                Bid----------------------First
                Quarter
            $
                3.05
            $
                1.15Second
                Quarter
            $
                1.50
            $
                0.27Third
                Quarter
            $
                0.74
            $
                0.30Fourth
                Quarter
            $
                0.64
            $
                0.25







(1)
            Trading
                on the OTC Bulletin Board was first reported on 12/09/02 under
                “TGYC”.


(2)
            HouseRaising
                consummated a reverse merger with Technology Connections on August
                31,
                2004.





The
      number of holders of record of the Company's common stock as of March 15, 2006
      is 120. It is estimated that there are 1364 holders of the Company’s common
      stock in street name.





BECAUSE
      OUR STOCK IS CONSIDERED A PENNY STOCK ANY INVESTMENT IN OUR STOCK IS CONSIDERED
      TO BE A HIGH-RISK INVESTMENT AND IS SUBJECT TO RESTRICTIONS ON
      MARKETABILITY.





Our
      Shares are "penny stocks" within the definition of that term as contained in
      the
      Securities Exchange Act of 1934, which are generally equity securities with
      a
      price of less than $5.00. Our shares will then be subject to rules that impose
      sales practice and disclosure requirements on certain broker-dealers who engage
      in certain transactions involving a penny stock. Under the penny stock
      regulations, a broker-dealer selling penny stock to anyone other than an
      established customer or "accredited investor" must make a special suitability
      determination for the purchaser and must receive the purchaser's written consent
      to the transaction prior to the sale, unless the broker-dealer is otherwise
      exempt. Generally, an individual with a net worth in excess of $1,000,000 or
      annual income exceeding $200,000 individually or $300,000 together with his
      or
      her spouse is considered an accredited investor.





In
      addition, the penny stock regulations require the broker-dealer to:


·
            deliver,
                prior to any transaction involving a penny stock, a disclosure schedule
                prepared by the Securities and Exchange Commission relating to the
                penny
                stock market, unless the broker-dealer or the transaction is otherwise
                exempt;


·
            Disclose
                commissions payable to the broker-dealer and the Registered Representative
                and current bid and offer quotations for the securities;


·
            Send
                monthly statements disclosing recent price information with respect
                to the
                penny stock held in a customer's account, the account's value and
                information regarding the limited market in penny
                stocks;





Because
      of these regulations, broker-dealers may encounter difficulties in their attempt
      to sell shares of our common stock, which may affect the ability of selling
      shareholders or other holders to sell their shares in the secondary market
      and
      have the effect of reducing the level of trading activity in the secondary
      market. These additional sales practice and disclosure requirements could impede
      the sale of our securities. In addition, the liquidity of our securities may
      be
      decreased, with a corresponding decrease in the price of our securities. Our
      shares in all probability will be subject to such penny stock rules and our
      shareholders will, in all likelihood, find it difficult to sell their
      securities.





-9-







Dividend
      Policy:


All
      shares of common stock are entitled to participate proportionally in dividends
      if our Board of Directors declares them out of the funds legally available.
      These dividends may be paid in cash, property or additional shares of common
      stock. We have not paid any dividends since our inception and presently
      anticipate that all earnings, if any, will be retained for development of our
      business. Any future dividends will be at the discretion of our Board of
      Directors and will depend upon, among other things, our future earnings,
      operating and financial condition, capital requirements, and other
      factors.





Series
      A
      Convertible Preferred Stock:


We
      have
      issued and outstanding 1,000,000 shares of Series A Convertible Preferred Stock,
      which are held entirely by affiliates of the Company. Each share of Series
      A
      Convertible Preferred Stock is convertible after five years into 10 shares
      of
      common stock, and it votes together with the common stock on all matters on
      an
      as converted basis. The Series A Convertible Preferred Stock is entitled to
      such
      dividends as may be declared by the Board of Directors on the common stock,
      from
      time to time, on an as converted basis.





-10-


**ITEM
      7. SELECTED FINANCIAL STATEMENTS**





**INDEPENDENT
      AUDITOR’S REPORT**











To
      the
      Board of Directors and Stockholders


HouseRaising,
      Inc. and Subsidiaries


4801
      East
      Independence Blvd, Ste. 200


Charlotte,
      NC 28212





I
      have
      audited the accompanying consolidated balance sheet of HouseRaising Inc., (A
      Development Stage Company) and Subsidiaries as of December 31, 2005 and the
      related consolidated statements of operations, stockholders’ equity, and cash
      flows for the years ended December 31, 2005 and 2004. These financial statements
      are the responsibility of the Company’s management. My responsibility is to
      express an opinion on these financial statements based on my
      audits.





I
      conducted my audits in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that I
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. An audit includes examining,
      on a
      test basis, evidence supporting the amounts and disclosures in the financial
      statements. An audit also includes assessing the accounting principles used
      and
      significant estimates made by management, as well as evaluating the overall
      financial statement presentation. I believe that my audits provide a reasonable
      basis for my opinion.




In
      my
      opinion, the financial statements referred to above present fairly, in all
      material respects, the financial position of HouseRaising, Inc. as of December
      31, 2005, and the results of its operations and its cash flows for the years
      ended December 31, 2005 and 2004 in conformity with accounting principles
      generally accepted in the United States of America.







The
      accompanying financial statements have been prepared assuming the Company will
      continue as a going concern. The Company has recurring losses and has yet to
      generate an internal cash flow that raises substantial doubt
      about its ability to continue as a going concern. Management’s plans in regard
      to these matters are described in Note D. The financial statements do not
      include any adjustments that might result from the outcome of this
      uncertainty.














Traci
      J.
      Anderson, CPA


Huntersville,
      NC


March
      20,
      2006





-11-





**HouseRaising,
                Inc. and Subsidiaries (A Development Stage
                Company)****Consolidated
                Condensed Balance Sheet**
                **As
                  of December 31, 2005**




******ASSETS**CURRENT
                ASSETSCash
                and Cash Equivalents
            
            
            292,383Excess
                costs over billings on uncompleted projects
            
            
            186,372Accounts
                Receivable
            
            
            22,918TOTAL
                CURRENT ASSETS
            
            
            501,673PROPERTY
                AND EQUIPMENTProperty
                and Equipment
            
            
            362,877Accumulated
                Depreciation
            
            
            (123,069
            )Net
                Property and Equipment
            
            
            239,808OTHER
                ASSETSOther
                Assets
            
            
            8,460Capitalized
                Software
            
            
            10,719,700Net
                Other Assets
            
            
            10,728,160TOTAL
                ASSETS
            
            
            11,469,641**LIABILITIES
                AND STOCKHOLDERS' EQUITY**LIABILITIESCurrent
                Liabilities:Accounts
                Payable and Accrued Expenses
            
            
            243,294Interest
                Payable
            
            
            82,437Notes
                Payable
            
            
            908,807Bank
                Loan
            
            
            1,303,000TOTAL
                LIABILITIES
            
            
            2,537,538STOCKHOLDERS'
                EQUITYPreferred
                Stock ($.001 par value, 5,000,000 authorized:none
                issued and outstanding)
            
            
            -Preferred
                Stock Class A Convertible ($.001 par value, 5,000,000
                authorized:1,000,000
                issued and outstanding)
            
            
            1,000Common
                Stock Series A ($.001 par value, 90,000,000 shares authorized:44,585,290
                shares issued and outstanding)
            
            
            44,586Common
                Stock Subscribed but not Issued
            
            
            1,807,262Additional
                Paid-in-Capital
            
            
            12,908,118Retained
                Deficit
            
            
            (5,828,863
            )TOTAL
                STOCKHOLDERS' EQUITY
            
            
            8,932,103TOTAL
                LIABILITIES AND STOCKHOLDERS' EQUITY
            
            
            11,469,641








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




-12-




**HouseRaising,
                Inc. and Subsidiaries (A Development Stage
                Company)****Consolidated
                Statement of Operations****For
                the years ended December 31, 2005 and
                2004**




2005
            
            2004SALES
                AND COST OF SALES:Sales
            
            $
            534,153
            
            $
            102,382Gross
                Profit
            
            
            36,468
            
            
            70,873OTHER
                REVENUES:Sales
                and service fees
            
            
            50,313
            
            
            73,261Other
                income
            
            
            188
            
            
            14,996NET
                REVENUES
            
            
            86,969
            
            
            159,130OPERATING
                EXPENSES:Selling,
                general and administrative
            
            
            1,978,063
            
            
            641,689Consulting
                fees
            
            
            2,133,720
            
            
            351,5564,111,783
            
            
            993,245OTHER
                EXPENSE:Interest
                expense
            
            
            96,180
            
            
            93,081NET
                LOSS
            
            $
            (4,120,994
            )
            $
            (927,196
            )Net
                Loss Per Common ShareBasic
                & Fully Diluted
            
            
            *
            
            
            *Weighted
                Average CommonShares
                Outstanding (see Note G)
            
            
            40,467,025
            
            
            12,038,872




*
                Less than ($.01)





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




-13-




**HouseRaising,
                Inc. and Subsidiaries (A Development Stage
                Company)****Statements
                of Cash Flows****For
                the years ended December 31, 2005 and
                2004**




**2005**
            
            **2004**CASH
                FLOWS FROM OPERATING ACTIVITIES:Net
                loss
            
            $
            (4,120,994
            )
            $
            (927,196
            )Adjustments
                to reconcile net loss to netcash
                (used in) operating activities:Depreciation
            
            
            33,686
            
            
            30,232Common
                stock issued for services and debt restructuring
            
            
            4,547,977
            
            
            2,082,769(Increase)
                decrease in operating assets:
            
            
            -
            
            
            (422,952
            )Increase
                of notes payable in exchange for services rendered
            
            
            -
            
            
            234,045Accounts
                receivable
            
            
            3,023
            
            
            (33,654
            )Capitalized
                software
            
            
            (2,148,461
            )
            
            (1,041,707
            )Excess
                of costs over billings on uncompleted contracts
            
            
            (126,729
            )
            
            (59,643
            )Accounts
                payable and accrued expenses
            
            
            323,116
            
            
            181,609NET
                CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
            
            
            (1,488,382
            )
            
            43,503CASH
                FLOWS FROM INVESTMENT ACTIVITIES:Investment
                in subsidiary operations
            
            
            (148,335
            )
            
            -Purchase
                of property and equipment
            
            
            (45,717
            )
            
            (59,936
            )NET
                CASH (USED IN) INVESTMENT ACTIVITIES
            
            
            (194,052
            )
            
            (59,936
            )CASH
                FLOWS FROM FINANCING ACTIVITIES:Proceeds
                from sale of common stock
            
            
            475,000
            
            
            41,200Borrowings
                on notes payable
            
            
            1,475,050
            
            
            -NET
                CASH PROVIDED BY FINANCING ACTIVITIES
            
            
            1,950,050
            
            
            41,200NET
                INCREASE IN CASH ANDCASH
                EQUIVALENTS
            
            
            267,616
            
            
            24,767CASH
                AND CASH EQUIVALENTS:Beginning
                of period
            
            
            24,767
            
            
            -End
                of period
            
            $
            292,383
            
            $
            24,767







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





-14-





**HouseRaising,
                Inc. and Subsidiaries (A
                Development Stage Company)****Consolidated
                Statement of Stockholders' Equity****For
                the years ended December 31, 2005 and
                2004**




Series
                A
            
            Series
                A
            
            Series
                B
            
            Series
                BCommon
            
            Common
            
            Common
            
            Common
            
            Preferred
            
            Preferred
            
            AdditionalShares
            
            Stock
            
            Shares
            
            Stock
            
            Shares
            
            Stock
            
            Paid-in
            
            Retained(000's)
            
            
            
            $(000's)
            
            
            
            $(000's)
            
            
            
            $Capital
            
            DeficitBalances,
                January 1, 2004
            
            
            17,161
            
            $
            17,161
            
            
            10,000
            
            $
            10,000
            
            
            -
            
            
            -
            
            $
            5,675,432
            
            $
            (780,626
            )Issuance
                of A shares--merger
            
            
            11,787
            
            
            11,787
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            164,692
            
            
            -Issuance
                of B shares--merger
            
            
            -
            
            
            -
            
            
            (10,000
            )
            
            (10,000
            )
            
            -
            
            
            -
            
            
            -
            
            
            -Issuance
                of A shares for services
            
            
            7,512
            
            
            7,512
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            1,914,370
            
            
            -Issuance
                of preferred shares--merger
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            1,000
            
            
            1,000
            
            
            -
            
            
            -Net
                Income (loss) for the year
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (927,196
            )Balances,
                December 31, 2004
            
            
            36,460
            
            $
            36,460
            
            
            -
            
            $
            -
            
            
            1,000
            
            $
            1,000
            
            $
            7,754,494
            
            $
            (1,707,822
            )Issuance
                of A shares for services
            
            
            8,126
            
            
            8,126
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            4,676,871
            
            
            -Issuance
                of A shares for funds
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            475,000
            
            
            -Adjustment
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (47
            )Net
                income (loss) for the year
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (4,120,994
            )Balances,
                December 31, 2005
            
            
            44,586
            
            $
            44,586
            
            
            -
            
            $
            -
            
            
            1,000
            
            $
            1,000
            
            $
            12,906,365
            
            $
            (5,828,863
            )







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


-15-





**NOTE
      A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**





Business
      Activity —HouseRaising,
      Inc. (a Development Stage Company) and Subsidiaries is in the business of
      selling, designing and managing design/build and renovation projects and home
      building solutions in the residential homebuilding market for homebuyers and
      homebuilders. HouseRaising, Inc. merged into Technology Connections, Inc. and
      changed the name to HouseRaising, Inc. (The Company).





The
      Company provides a proprietary turnkey home design and build management system
      that it markets to regional homebuilders. Its customers are principally located
      in the Southeast USA with a current concentration in North and South Carolina.





The
      following is a list of all subsidiaries of the Company:


HouseRaisingAcademy,
                LLC
            owned
                100% by HouseRaising, Inc.HouseRaisingManagement,
                LLC
            owned
                100% by HouseRaising, Inc.HouseRaisingUSA,
                LLC
            owned
                100% by HouseRaising, Inc.HouseRaisingMembership,
                LLC (2006)
            owned
                100% by HouseRaising, Inc.HouseRaising
                of Greater Charlotte, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of Greenville, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of Columbia, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of Asheville, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of Wilmington, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of Myrtle Beach, LLC
            owned
              100% by HouseRaisingUSA, LLCHouseRaising
                of Charleston, LLC
            owned
                100% by HouseRaisingUSA, LLCHouseRaising
                of the Gulf Coast, LLC (2006)
            owned
                100% by HouseRaisingUSA, LLC


These
      limited liability companies provide managerial services to the Company’s
      homebuilding operations. These limited liability companies operate within
      specific guidelines and operating procedures established by HouseRaising, Inc.
      documents. The Company enters into a fee based management contract with each
      homebuilder that is required to be properly licensed. Each custom, design and
      built home is financed in the name of the homebuyer.





In
      July
      2003, the Company formed 2 subsidiaries, HouseRaisingAcademy, LLC and
      HouseRaisingUSA, LLC. HouseRaisingAcademy, LLC develops and manages the
      Company’s internet based E-Learning and Homebuilder Management System (named
      System C) currently in development. HouseRaisingUSA, LLC is responsible for
      organizing and owning the regional limited liability companies.





Cash
      and Cash Equivalents —For
      purposes of the Consolidated Statement of Cash Flows, the Company considers
      liquid investments with an original maturity of three months or less to be
      cash
      equivalents.





Management’s
      Use of Estimates —The
      preparation of consolidated financial statements in conformity with accounting
      principles generally accepted in the United States of America requires
      management to make estimates and assumptions that affect the reported amounts
      of
      assets and liabilities and disclosures of contingent assets and liabilities
      at
      the date of consolidated financial statements and the reported amounts of
      revenues and expenses during the reporting period. Actual results could differ
      from those estimates.





Revenue
      Recognition —The
      Company’s revenue is derived primarily from 1) providing general management of
      construction for new homes and renovation projects which reflect the home’s
      contract price, and 2) design and build management services (sales and service
      fee) to homebuilders and homebuyers on a percentage of such home’s contract
      price. In no event would the company record more than the home’s contract price
      for consolidation purposes in the event the company provides both general
      management and design/build services to the same project. Approximately 60%
      of
      the sales and service fee (which is typically 10% of the home’s contract price)
      is recognized in the initial construction stage. The balance of the Company’s
      management fee, approximately 40% of the sales and service fee is recognized
      at
      closing. Revenues and profits from general management of construction contracts
      are recognized on the completed-contract method and therefore when the project
      is completed (or closed). This method is used because financial position and
      results of operations do not vary significantly from those which would result
      from use of percentage-of-completion method and is conservative. A contract
      is
      considered complete when all costs except insignificant items have been incurred
      and the installation is operating according to specifications or has been
      accepted by the customer. Contract costs include all direct materials and labor
      costs and those indirect costs related to contract performance, such as indirect
      labor, supplies, tools, repairs, and depreciation costs. General and
      administrative costs are charged to expense as incurred. Costs in excess of
      amounts billed are classified as current assets under costs in excess of
      billings on uncompleted contracts. Billings in excess of costs are classified
      under current liabilities as billings in excess of costs on uncompleted
      contracts.





-16-


**NOTE
      A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’)**





Comprehensive
      Income (Loss) —The
      Company adopted Financial Accounting Standards Board Statement of Financial
      Accounting Standards (SFAS) No. 130, *“Reporting
      Comprehensive Income”* ,
      which
      establishes standards for the reporting and display of comprehensive income
      and
      its components in the consolidated financial statements. There were no items
      of
      comprehensive income (loss) applicable to the Company during the periods covered
      in the consolidated financial statements.





Capitalized
      Software —Certain
      capitalized software assets have been contributed to the Company from related
      entities under common ownership and control. The capitalized software assets
      include certain external direct costs of materials and services consumed in
      developing internal-use software (System C) for home plans and designs, and
      operating systems and policies for homebuilders. These costs include payroll
      and
      payroll-related costs for employees and contractors who are directly associated
      with and who devote time to the internal-use computer software project (to
      the
      extent of the item spent directly on the project) during the application
      development stage. Training costs, data conversion costs, internal costs for
      upgrades and enhancements, and internal costs incurred for maintenance are
      all
      expensed as incurred. General and administrative costs and overhead costs are
      also expensed as incurred. The assets will commence amortization when the asset
      is considered to be in the post-implementation phase (i.e. when the development
      of internal use software is completed) which was originally projected to be
      in
      2005, but has been changed to 2006.
      At
      such time, the capitalized software costs will be amortized on a straight-line
      basis over the estimated economic life of the asset to be
      determined.





S-8
      Share Payments —The
      Company currently provides S-8 registered shares as compensation for many
      services rendered as a means of conserving cash until it obtains adequate debt
      or equity financing. The Company accrues the value of services rendered as
      an
      expense or capital expenditure (when it is readily determinable and meets the
      tests under FASB 123) instead of the stock price at the time the shares are
      transferred. Employees, consultants and vendors that receive such shares
      understand that there is risk associated with the volatility of the share price.
      In some cases there are “true-up” provisions which would result in more or less
      shares to be issued; however, the expense or capital expenditure would have
      already been reflected on the company’s financial statements at the time
      services were rendered.





Advertising
      Costs —Advertising
      costs are expensed as incurred. The Company does not incur any direct-response
      advertising costs.





Net
      Loss per Common Share —Statement
      of Financial Accounting Standard (SFAS) No. 128 requires dual presentation
      of
      basic and diluted earnings per share (EPS) with a reconciliation of the
      numerator and denominator of the EPS computations. Basic earnings per share
      amounts are based on the weighted average shares of common stock outstanding.
      If
      applicable, diluted earnings per share would assume the conversion, exercise
      or
      issuance of all potential common stock instruments such as options, warrants
      and
      convertible securities, unless the effect is to reduce a loss or increase
      earnings per share. Accordingly, this presentation has been adopted for the
      period presented. There were no adjustments required to net loss for the period
      presented in the computation of diluted earnings per share.





Income
      Taxes —Income
      taxes are provided in accordance with Statement of Financial Accounting
      Standards (SFAS) No. 109, *“Accounting
      for Income Taxes.”* A
      deferred tax asset or liability is recorded for all temporary differences
      between financial and tax reporting and net operating
      loss-carryforwards.





Deferred
      tax assets are reduced by a valuation allowance when, in the opinion of
      management, it is more likely than not that, and some portion or the entire
      deferred tax asset will not be realized. Deferred tax assets and liabilities
      are
      adjusted for the effect of changes in tax laws and rates on the date of
      enactment.





Fair
      Value of Financial Instruments —The
      carrying amounts reported in the consolidated balance sheet for cash, accounts
      receivable and payable approximate fair value based on the short-term maturity
      of these instruments.





Accounts
      Receivable —Accounts
      deemed uncollectible are written off in the year they become uncollectible.





Impairment
      of Long-Lived Assets —The
      Company evaluated the recoverability of its property and equipment, and other
      assets in accordance with Statements of Financial Accounting Standards (SFAS)
      No. 121, *“Accounting
      for the Impairment of Long-Lived Assets to be Disposed of”* which
      requires recognition of impairment of long-lived assets in the event the net
      book value of such assets exceeds the estimated future undiscounted cash flows
      attributable to such assets or the business to which such intangible assets
      relate.





Property
      and Equipment —Property
      and equipment is stated at cost. Depreciation is provided by the straight-line
      method over the estimated economic life of the property and equipment remaining
      from five to seven years.





-17-





**NOTE
      A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’)**





Recent
      Accounting Pronouncements —In
      June
      2001, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards (SFAS) No. 143, *“Accounting
      for Asset Retirement Obligations”* which
      addresses the accounting and reporting for obligations associated with the
      retirement of tangible long-lived assets and the associated retirement costs.
      SFAS No. 143 requires that the fair value of a liability for an asset retirement
      obligation be recognized in the period in which it is incurred if a reasonable
      estimate of fair value cannot be made. SFAS No. 143 is effective for financial
      statements issued for fiscal years beginning after June 15, 2002. The Company
      does not expect SFAS No. 143 to have a material effect on its consolidated
      financial condition or consolidated cash flows.





In
      August
      2001, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards (SFAS) No. 144, *“Accounting
      for the Impairment or Disposal of Long-Lived Assets”.* SFAS No.
      144 generally establishes a standard framework to measure the impairment of
      long-lived assets and expands the Accounting Principles Board (“APB”) 30,
“Reporting the Results of Operations—Reporting the Effects of Disposal of a
      Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring
      Events and Transactions” to include a component of the entity (rather than a
      segment of the business). SFAS No.144 is effective for financial statements
      issued for fiscal years beginning after December 15, 2001. The Company does
      not
      expect SFAS No. 144 to have a material effect on its consolidated financial
      condition and consolidated cash flows.





In
      April
      of 2002, Statement of Financial Accounting Standards (SFAS) No. 145 was issued
      which rescinded SFAS Statements 4, 44, and 64, amended No. 13 and contained
      technical corrections. As a result of SFAS No. 145, gains and losses from
      extinguishments of debt will be classified as extraordinary items only if they
      meet the criteria in APB Opinion No. 30, that they are unusual and infrequent
      and not part of an entity’s recurring operations. The Company does


not
      expect SFAS No. 145 to have a material effect on its financial condition or
      cash
      flows. The Company will adopt SFAS on January 1, 2004.





In
      July
      of 2002, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standard (SFAS) No. 146, which addresses significant issues regarding
      the recognition, measurement, and reporting of costs that are associated with
      exit and disposal activities, including restructuring activities that are
      currently accounted for pursuant to the guidance that the Emerging Issues Task
      Force (EITF) has set forth in EITF Issue No. 94-3, *“Liability
      Recognition for Certain Employee Termination Benefits and Other Costs to Exit
      an
      Activity (Including Certain Costs Incurred in a Restructuring)”* .
      SFAS
      No. 146 revises the accounting for certain lease termination costs and employee
      termination benefits, which are generally recognized in connection with
      restructuring charges. The provisions of SFAS 146 are effective for exit or
      disposal activities that are initiated after December 31, 2002. The Company
      does
      not expect SFAS No. 146 to have an impact its financial statements once adopted
      on January 1, 2004.





In
      November 2002, the Financial Accounting Standards Board issued Interpretation
      No. 45 (FIN 45), “ *Guarantor’s
      Accounting and Disclosure Requirements for Guarantee, Including Indirect
      Guarantees or Indebtedness of Others”* ,
      which
      addresses the disclosures to be made by a guarantor in its interim and annual
      financial statements about its obligations under guarantees. FIN 45 also
      requires the recognition of a liability by a guarantor at the inception of
      certain guarantees that are entered into or modified after December 31,
      2002.





In
      December 2002, the Financial Accounting Standards Board issued Statement of
      Financial Accounting Standard (SFAS) No. 148, *“Accounting
      for Stock-Based Compensation Transition and Disclosure”* —an
      amendment to SFAS No. 123 (SFAS No. 148), which provides alternative methods
      of
      transition for companies voluntarily planning on implementing the fair value
      recognition provisions of SFAS No. 123. SFAS No. 148 also revises the disclosure
      provisions of SFAS No. 123 to require more prominent disclosure of the method
      of
      accounting for stock-based compensation, and requiring disclosure of pro forma
      net income and earnings per share as if the fair value recognition provisions
      of
      SFAS No. 123 had been applied from the original effective date of SFAS No.
      123.
      The Company adopted the disclosures provisions of SFAS No. 148 for the quarters
      ending after December 15, 2002.





In
      January 2003, the EITF released Issue No. 00-21, (EITF 00-21), *“Revenue
      Arrangements with Multiple Deliveries”* ,
      which
      addressed certain aspects of the accounting by a vendor for arrangement under
      which it will perform multiple revenue-generating activities. Specifically,
      EITF
      00-21 addresses whether an arrangement contains more than one unit of accounting
      and the measurement and allocation to the separate units of accounting in the
      arrangement. EITF 00-21 is effective for revenue arrangements entered into
      in
      fiscal periods beginning after June 15, 2003. The adoption of this standard
      will
      not have an impact on the Company’s financial statements.





-18-


**NOTE
      A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’)**





Recent
      Accounting Pronouncements (cont’)





In
      May
      2003, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards (SFAS) No. 149, *“Amendment
      of Statement 133 on Derivative Instruments and Hedging
      Activities.”* SFAS No.
      149 amends and clarifies accounting for derivative instruments, including
      certain derivative instruments embedded in other contracts, and for hedging
      activities under SFAS No. 133. SFAS No. 149 is effective for contracts entered
      into or modified after June 30, 2003 and for hedging relationships designated
      after June 30, 2003. The Company does not believe that there will be any impact
      on its financial statements.





In
      May
      2003, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards (SFAS) No. 150, *“Accounting
      for Certain Financial Instruments with Characteristics of both Liabilities
      and
      Equity.”* SFAS No.
      150 establishes standards for how companies classify and measure certain
      financial with characteristics of both liabilities and equity. It requires
      companies to classify a financial instrument that is within its scope as a
      liability (or an asset in some characteristics). SFAS No. 150 is effective
      for
      financial instruments entered into or modified after May 31, 2003. The standard
      will not impact the Company’s financial statements.





**NOTE
      B—SUPPLEMENTAL CASH FLOW INFORMATION**





Supplemental
      disclosures of cash flow information for the years ended December 31, 2005
      and
      2004 are summarized as follows:





Cash
      paid
      during the years for interest and income taxes:





2005
            
            2004Income
                Taxes
            
            $
            ---
            
            $
            ---Interest
            
            $
            96,180
            
            $
            93,081





**NOTE
      C—INCOME TAXES**





Due
      to
      the operating loss and the inability to recognize an income tax benefit
      therefrom, there is no provision for current or deferred federal or state income
      taxes for the years ended December 31, 2005 and 2004.





Deferred
      income taxes reflect the net tax effects of temporary differences between the
      carrying amounts of assets and liabilities for financial reporting purposes
      and
      the amount used for federal and state income tax purposes.





The
      Company’s total deferred tax asset, calculated using federal and state effective
      tax rates, as of December 31, 2005 is as follows:





Total
                deferred tax assets
            
            $
            2,200,000Valuation
                allowance
            
            
            (2,200,000
            )Net
                deferred tax asset
            
            $
            ----





The
      reconciliation of income taxes computed at the federal statutory income tax
      rate
      to total income taxes for the years ended December 31, 2005 and 2004 is as
      follows:


2005
            
            2004Income
                tax computed at the federal statutory rate
            
            
            34
            %
            
            34
            %State
                income taxes, net of federal tax benefit
            
            
            4
            %
            
            4
            %Valuation
                allowance
            
            
            (38
            %)
            
            (38
            %)Total
                deferred tax asset
            
            
            0
            %
            
            0
            %





Because
      of the Company’s lack of earnings history, the deferred tax asset has been fully
      offset by a valuation allowance. The valuation allowance increased (decreased)
      by $1,550,000 and $351,000 in 2005 and 2004, respectively.





As
      of
      December 31, 2005, the Company had federal and state net operating loss
      carryforwards in the amount of approximately $5,800,000, which expire at various
      times through the year 2025.





-19-


**NOTE
      D—GOING CONCERN**





As
      shown
      in the accompanying financial statements, the Company has recurring losses
      from
      operations to date. During 2005, the Company had a net loss of $4,120,994,
      a net
      deficiency of $5,828,863 and a net working capital deficit of
      $2,035,865.





Management
      believes that actions presently being taken to raise equity capital, seek
      strategic relationships and alliances, and build its marketing efforts to
      generate positive cash flow provide the means for the Company to continue as
      a
      going concern. The financial statements do not include any adjustments that
      might result from the outcome of this uncertainty.





**NOTE
      E—ACQUISITIONS**





In
      April
      2005, the Company entered into an agreement to acquire Integrity Contractors,
      Inc. (ICI). The Company acquired all of the assets, including estimating and
      scheduling software developed and owned by ICI’s original owner in return for
      75,000 shares of restricted common stock and $33,750. Both parties agree that
      the 75,000 restricted shares will be forfeited in the event that Steve Smith
      (the original owner of ICI) were to leave the Company on or before May 3, 2006.
      The Company and ICI agreed that 75,000 shares of the 100,000 shares of common
      stock in the Company are restricted shares under Rule 144 and the remaining
      25,000 shares are free-trading shares.





On
      August
      4, 2005, the Company, LearnBytes, LLC, a North Carolina limited liability
      company (“LearnBytes”), and Grant Neerings, a resident of the state of North
      Carolina and sole member of LearnBytes (“Neerings”), simultaneously executed and
      closed the transactions contemplated by an Asset Purchase Agreement, dated
      as of
      August 1, 2005 (the “Agreement”), pursuant to which the Company acquired
      substantially all of the assets used and useful in the business of LearnBytes
      and assumed certain of its liabilities. LearnBytes was engaged in the Learning
      System Design and Implementation Business (the “Business”), and was an
      independent contractor of the Company whose responsibilities included the
      development and implementation of the Company’s System C software system that
      was designed to manage the homebuilding process for the Company’s customers.





The
      aggregate purchase price (the “Purchase Price”) for the Business under the
      Agreement was 500,000 shares of restricted common stock of the Company, payable
      to LearnBytes as soon as practicable following the Closing. These shares are
      subject to complete forfeiture by LearnBytes in the event that Neerings does
      not
      remain a full-time consultant or an employee of the Company for a one-year
      period of time from the date of issuance. The shares are entitled to piggy-back
      registration rights that commence one year from the date of Closing.





As
      additional consideration for the purchase of the Business, the Company assumed
      $6,490 in accounts payable of LearnBytes and will collect a total of $5,260
      in
      accounts receivable of LearnBytes.





As
      part
      of the Agreement, Neerings and the Company entered into a Consultant Agreement,
      dated as of August 1, 2005 (the “Consultant Agreement”), pursuant to which
      Neerings agreed to provide the services outlined in Exhibit A to the Consultant
      Agreement for a five-year period of time commencing on the date of the
      Consultant Agreement. In consideration for such services, Neerings will be
      compensated at a rate of $120,000 per year in cash or S-8 stock. When the
      Company obtains and closes on a Qualified Financing (as defined), Neerings’
compensation will increase to $200,000 per year. In addition, among other
      things, Neerings will be entitled to warrants to purchase 2,000,000 shares
      of
      common stock of the Company exercisable for a ten year term, 1,000,000 of which
      are exercisable at $0.50 per share, and 1,000,000 of which are exercisable
      at
      $1.00 per share. The warrants will be earned and vested in an amount equal
      to
      one-fifth on each anniversary date of the Agreement.





**NOTE
      F—SEGMENT REPORTING**





In
      June
      1997, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards No. 131, *“Disclosures
      about Segments of an Enterprise and Related Information.”* This
      statement requires companies to report information about operating segments
      in
      interim and annual consolidated financial statements. It also requires segment
      disclosures about products and services, geographic areas and major customers.
      The Company determined that it did not have any separately reportable operating
      segments as of December 31, 2004 and 2003.





**NOTE
      G—EQUITY**





During
      2005, the Company issued 8,125,652 common shares for services (consulting,
      marketing, legal fees, salaries, capitalized software system). During 2004,
      the
      Company issued 19,299,064 common shares—7,512,034 for cash, services and debt to
      equity conversions and 11,787,030 pertaining to the merger.





-20-


**NOTE
      H--N** **ON-QUALIFIED
      STOCK COMPENSATION PLAN**





On
      July
      7, 2005, the Company adopted Amendment Number 2 to its 2004 Non-qualified Stock
      Compensation Plan (Stock Plan) where the Company may compensate key employees,
      advisors, and consultants by issuing them shares of its capital stock or options
      to purchase shares of its capital stock in exchange for services rendered and
      to
      be rendered and thereby conserve the Company’s cash resources. The Company has
      reserved an additional 2,000,000 shares of its $.001 par value Common Stock
      for
      these purposes. The Stock Plan will not exceed 30% of its outstanding common
      stock at any given time.





**NOTE
      I--DEVELOPMENT STAGE COMPANY**





The
      Company is in the development stage as of December 31, 2005 and to date has
      had
      no significant operations. Recovery of the Company’s assets is dependent on
      future events, the outcome of which is indeterminable. In addition, successful
      completion of the Company’s development program and its transition, ultimately,
      to attaining profitable operations is dependent upon obtaining adequate
      financing to fulfill its development activities and achieving a level of sales
      adequate to support the Company’s cost structure.





**NOTE
      J—COMMITMENTS/LEASES**





On
      November 1, 2005, HouseRaising entered
      into a Lease Agreement (“Lease”) whereby the Company agreed to lease the entire
      second floor at Independence Tower (approximately 11,000 square feet) located
      at
      4801 E. Independence Boulevard, Charlotte, NC for an annual rent obligation
      of
      approximately $100,000. HouseRaising will utilize this additional space for
      estimators and designers recruited to support the Company’s Gulf Coast
      initiative and a sales and product display center to support operations in
      North
      and South Carolina. The space will continue to serve as corporate headquarters
      for HouseRaising, Inc. and HouseRaisingAcademy, which include the Company’s
      recent consolidation of its acquisition of LearnBytes, LLC.





The
      Company also has one vehicle under leases that has been classified as an
      operating lease expiring in September 2006. Payment due under the lease is
      $1,384 per month.





In
      December 2005, the Company entered into a lease agreement. The agreement is
      for
      the lease of computer equipment. The monthly payments are $1,982.93 per month
      for 48 months. Monthly payments will begin in 2006.





In
      October 2005, the Company entered into a lease agreement. The agreement is
      for
      the lease of computer hardware and software. The monthly payments are $560.68
      per month for 24 months.





In
      September 2005, the Company entered into a lease agreement. The agreement is
      for
      the lease of computer hardware and software. The monthly payments are $248.53
      per month for 24 months.





**NOTE
      K—NOTES PAYABLE**





**Notes
      payable at December 31, 2005 consist of the following:**





Unsecured
                note payable to an unrelated party.Bearing
                8% interest.
            
            $
            5,640Unsecured
                note payable to an unrelated party.Bearing
                8% interest.
            
            $
            13,177Secured
                note payable to an unrelated party.Bearing
                0% interest.
            
            $
            30,000
            **Secured
                note payable to an unrelated party.Bearing
                0% interest.
            
            $
            50,000
            **Secured
                note payable to an unrelated party.Bearing
                15% interest.
            
            $
            155,000
            **Secured
                note payable to an unrelated party.Bearing
                18% interest. Note matures April 2005.
            
            $
            91,500
            **






-21-




**NOTE
                K—NOTES PAYABLE (CONT’)**Unsecured
                note payable to an unrelated party.Bearing
                0% interest.
            
            $
            1,851
            **Secured
                note payable to an unrelated party.Bearing
                0% interest. Note matures April 2005.
            
            $
            95,000
            **Secured
                note payable to an unrelated party.Bearing
                0% interest. Note matures April 2005.
            
            $
            37,500
            **Secured
                demand note payable to a related party.Bearing
                6% interest.
            
            $
            429,138Total
                Current Portion
            
            $
            908,806





**
      On the
      0% interest bearing notes, the Company imputed interest on the notes using
      a
      rate of 6%. The effects of these notes are included in the consolidated
      financial statements therein.





**NOTE
      L—LINE OF CREDIT**


The
      Company obtained a line of credit with Wachovia Bank, NA. The line of credit
      has
      been secured with 6,704,040 shares of the Company’s stock as collateral. The
      shares being used as collateral are owned by the trust of one of the Company’s
      officers and major shareholders. The interest rate on the line of credit is
      equal to 1-month LIBOR plus 2.75%. All interest and principal are due July
      31,
      2006.





**NOTE
      M—SUBSEQUENT EVENTS**





In
      2006,
      the Company offered its bridge lenders the opportunity to convert their
      outstanding notes payable amounts to the Company’s Private Placement Memorandum
      (PPM) equity offering. The Company is offering a 1 unit value at $0.50 for
      one
      restricted share of stock and one warrant for the option to purchase another
      share of stock for $0.50 one year later (and for up to 4 more years thereafter).
      The following lenders have agreed to the aforementioned terms:





Secured
                note payable to an unrelated party.Bearing
                0% interest. Note matures April 2005.
            
            $
            95,000PPM
                #5 for 190,000 units; 190,000 warrants at $0.50.Secured
                note payable to an unrelated party.Bearing
                0% interest. Note matures April 2005.
            
            $
            37,500PPM
                #6 for 75,000 units; 75,000 warrants at $0.50.Secured
                note payable to an unrelated party.Bearing
                0% interest.
            
            $
            50,000PPM
                #7 for 100,000 units; 100,000 warrants at $0.50.





In
      2006,
      the Company established two new limited liability companies (LLC) with the
      name
      HouseRaising of the Gulf Coast, LLC and HouseRaisingMembership, LLC. The Company
      is the 100% owner of these LLCs.








-22-


**ITEM
      8. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF
      OPERATIONS.**





**Management’s
      Discussion and Analysis of Financial Condition and Results of Operations for
      December 31, 2005**





*(The
      following discussion should be read in conjunction with the Financial Statements
      and related notes thereto included elsewhere in this section.)*





**Executive
      Overview & Strategy**





HouseRaising,
      Inc. is a development stage company in the business of selling, designing and
      managing design/build and renovation projects and homebuilding solutions in
      the
      residential homebuilding market for homebuyers and homebuilders. HouseRaising’s
      core business is to create revenues and profits from use of its proprietary
      software functioning exclusively within the custom homebuilding arena. The
      Company owns a proprietary invention created to alter and improve the way custom
      homes are designed and built. The invention serves to connect hundreds of small
      builders and thousands of vendors to homebuyers in a revolutionary process.
      The
      invention has been developed into internal-use software. This management
      software is used as a tool to define 3,400 tasks in the designing and building
      process and as a school to cause precise steps to be performed in each task.
      In
      early 2005, the company filed patent applications on its invention and expects
      to begin producing revenues utilizing the software in 2006.





On
      February 19, 2004, HouseRaising executed an Agreement and Plan of Merger (“the
      Merger”) to which HRI agree to merge with and into Technology Connections, Inc.
      This transaction was structured as a reverse acquisition whereby the existing
      shareholders of HouseRaising obtained control of Technology Connections, Inc.
      and the resulting entity agreed to change its name to HouseRaising, Inc.. On
      August 31, 2004, the Merger was consummated when Articles of Merger were filed
      by the parties with the Secretary of State of North Carolina.





HouseRaising’s
      principal focus is implementing its business plan. Beginning in 2004,
      HouseRaising commenced sales of new home and renovation projects utilizing
      a
      manual version of the system through an operating subsidiary which confirmed
      its
      business model. In 2005, the Company focused its attention on completing its
      management software system ,
      starting to use the system to manage new home and renovation projects and
      develop an operating team to implement its business plan. Further discussion
      on
      the Company’s business plan is described under Item 1 of this
      filing.





**Results
      of Operations for Year Ended December 31, 2005 Compared to December 31,
      2004**





**Sales**





The
      Company reports total project sales based on the contract amount due to design
      and build project, in the quarter in which the sale is approved and closed.
      HouseRaising had new
      home
      and renovation sales of $534,153 for the year ended December 31, 2005, compared
      to $102,382 for the same period in 2004. This represents a five-fold increase
      in
      sales. Sales increased due to more new construction and remodeling in the
      greater Charlotte area in the second half of 2005 as the company started to
      implement its business plan and develop its operations in the Carolinas Zone.
      All sales were from unrelated third parties and were made primarily to new
      home
      buyers and remodeling work. In the first quarter of 2006, the Company has
      already obtained new contracts totaling approximately $2,000,000 in sales that
      are projected to be completed by year-end. On average these new construction
      projects are completed within 9 months.





**Gross
      Profits**





The
      Company earns profits as the net difference of project’s sales price and total
      costs including fees. The company conducts design/build projects with various
      affiliated builder relationships. Costs associated with in-house builder
      relationships are part of the projects total costs and HouseRaising’s profit is
      the difference in the sales price and all direct costs and fees. In a builder
      partnership relationship the company divides profits with the builder, which
      is
      accounted as a cost to the project. HRI’s profit represents the sales price less
      all costs, with the builder share of the profits listed as a cost to the
      project. HouseRaising had gross profits of $36,468 for the year ended December
      31, 2005 compared to $70,873 for the same period in 2004. The decrease is
      principally due to the fact that the gross profits in 2004 were associated
      with
      the former company, Technology Connections, business which included consulting
      fees and not homebuilding operations. We
      expect
      gross profits will increase commensurate with new contract sales.








-23-





**Sales
      and Service Fee Revenues**





Sales
      and
      service fee revenues from pre-sold projects consist of sales commissions,
      architectural design fees, engineering fees, and a series of project
      coordinating expenses charged to each design/build project. These fees are
      built
      into the projects total price with Homebuyers paying these charges at the
      beginning of construction. The fees are a direct cost to the project. The sales
      and service fees of $73,261 recorded in 2004 were associated with projects
      started and completed in 2005. The sales and service fees of $50,313 recorded
      in
      2005 were associated with new and on-going projects that will be completed
      in
      2006. Going forward we would expect this to continue to grow as our operations
      expand.




**Other
      Income**





The
      Company earned $188 in consulting income for the period ending December 31,
      2005, compared to $14,996 for the same period in 2004. We would not expect
      this
      to increase in 2006 as we implement our business plan.





**Net
      Revenues**





HouseRaising’s
      net revenues were $86,969 for the year ended 2005 compared to $159,130 for
      2004
      which was a blend of homebuilding operations and the former company, Technology
      Connections. The net revenues generated in 2005 were solely due to new home
      construction and renovation projects. We would expect our net revenues to
      continue to grow as we obtain new construction and remodeling work in 2006
      and
      commence roll-out of the Company’s membership and satellite builder operations.





**Expenses**





Total
      expenses for the year ended December 31, 2005 and 2004 were $4,111,783 and
      $993,245, respectively. This increase in administrative and consulting expenses
      is primarily due to costs related to developing HouseRaising’s Carolinas zone
      and design/build operations in Charlotte, NC, general business and investor
      relations consulting as well as executive management to raise capital for
      implementation of its business plan. We
      incurred a large, one-time expenditure in the second quarter in an effort to
      maintain our stock price in response to what we believe was a “wave of
      coordinated naked short selling” which we reported to the NASD and has resulted
      in our stock being monitored for such issues. The fees incurred in this effort
      were principally investor relations and consulting services totaling $1,149,180
      which was substantially funded through the issuance of restricted shares of
      common stock. The Company would not expect a reoccurrence of such an expense
      in
      the future. The administrative costs include advertising, costs for personnel
      and contractors who are directly associated with and who devote time to selling,
      designing and building pre-sold homes and renovation projects in the Greater
      Charlotte region.





Due
      to
      our start up efforts, we issued shares of common stock to professionals and
      consultants for their marketing, investor relations and general business
      consulting. All of our accounts payable and accrued expenses are trade payables
      in connection within the course of business. We expect to develop additional
      revenue sources consistent with these expense levels as we roll out our business
      plan in 2006, including the Company’s new membership and satellite builder
      operations.





**Other
      Expense**





HouseRaising
      had interest expense of $96,180 for the year ended December 31, 2005 compared
      to
      $93,081 for the same period in 2004. In 2003, HouseRaising completed a debt
      offering to a select group of accredited investors, which provided cash of
      $507,727 to HouseRaising, Inc. In November, 2004, the Company completed an
      equity-for-debt swap which reimbursed these investors for their debts and
      converted much of the outstanding debt to restricted shares in the company.
      The
      interest recorded in 2005 was principally for the company’s line of credit with
      Wachovia Bank and some interest associated with the bridge lenders. The interest
      recorded in 2004 was principally to reimburse bridge lenders to
      HouseRaising as well as to the Technology Connections predecessor entity. The
      Company has offered its bridge lenders an opportunity to enter into another
      equity for debt swap as part of the company’s private placement offering and
      several bridge lenders have agreed to do this. Going forward we would expect
      this level of interest expense to subside as those debt obligations are retired,
      unless the company cannot obtain additional equity financing and must resort
      to
      borrowing additional funds.





**Income
      / Losses**





The
      net
      loss for the year ended December 31, 2005 was $4,120,994 versus a net loss
      of
      $927,196 in the same period in 2004, a n
      increase of $3,193,798. The increase in net losses is directly attributable
      to
      the increase in administrative and consulting fees to commence rolling out
      operating activities of the company, including establishing the Carolinas
      operating zone and raising capital funding for the company. Future losses will
      depend on the success of implementing the company’s business plan in 2006. The
      company does already have approximately $2,000,000 of new home construction
      work
      in process for 2006 which is consistent with implementing our business plan.
      The
      actual sales will be recorded upon completion of each project while sales and
      service revenue will be recorded as earned. There is no guarantee that all
      of
      these projects will be completed in 2006.





-24-


**Impact
      of Inflation.**





We
      believe that inflation has had a negligible effect on operations since
      inception. We believe that we can offset inflationary increases in the cost
      of
      labor by increasing sales and improving operating efficiencies.





**Liquidity
      and Capital Resources.**





Cash
      flows used in operations were $1,488,382 for the year ended December 31, 2005
      and cash flows generated by operations were $43,503 for the same period in
      2004.
      This reflects a net increase in cash used by operations of $ 1,531,885
      principally due to an increase in the net operating loss and payment for
      capitalized software offset by an increase in issuance of common stock for
      services.





Cash
      flows used in investment activities were $194,052 and $59,936 for the year
      ended
      December 31, 2005 and 2004, respectively. This was principally due to the
      investment in subsidiary operations, Learnbytes, LLC and Integrity Contractors,
      and slightly lower purchase of property and equipment for the
      company.





Cash
      flows provided by financing activities were $1,950,050 and $41,200,
      respectively, for the year ended December 31, 2005 and 2004. The increase was
      principally due to the sale of three units of the company’s Private Placement
      Memorandum to accredited investors, a loan from Robert V. McLemore, the Company
      Founder and President, and a line of credit from Wachovia Bank.





We
      had
      cash on hand of $292,383 and a working capital deficit of $2,035,865 as of
      December 31, 2005 which is not sufficient to fund our operations through the
      next twelve months. Our working capital deficit is due to current obligations
      in
      account payable and notes payable from the bridge lenders and line of credit
      from Wachovia Bank. In early 2006, the Company entered into agreements with
      some
      of the bridge lenders to convert their debt obligations into restricted stock
      of
      the company and warrants for future purchase of restricted stock of the company
      through our Private Placement Memorandum which is further described under Note
      M
      of the audited financial statements.





Overall,
      we have funded our cash needs from inception through December 31, 2005 with
      a
      series of debt and equity transactions. The Company’s principal source of
      working capital in 2005 was a loan made by the Company’s founder, a line of
      credit established with Wachovia Bank, the sale of three units of the company’s
      Private Placement Memorandum to accredited investors, commitments from vendors
      to develop HouseRaising’s software system in exchange for shares of stock, and
      fee revenues and profits from existing new home and renovation sales. In
      addition, some Management and independent contractors providing services to
      the
      company have agreed to accept shares as a means of paying for critical services
      to implement its business plan. The Company has limited plans to hire additional
      employees until Management is successful in securing a capital infusion. We
      have
      not entered into any commitments for significant capital expenditures, except
      the on-going software development project previously mentioned.





Going
      forward we will rely substantially on new revenue from our business development
      efforts; however, we have no current or projected capital reserves that will
      sustain our business for the next twelve months. The company does have
      approximately $2,000,000 of new home construction work in process for 2006
      and a
      pipeline of prospective customers which is consistent with implementing our
      business plan. Actual sales will be recorded upon completion of each project
      while sales and service revenue will be recorded as earned. If the projected
      revenues fall short of needed capital we may not be able to sustain our cash
      needs for the next twelve months. The company has investors that have indicated
      a willingness to contribute equity to finance on-going operations. However,
      such
      parties are under no legal obligation to provide us with future capital
      infusions. If we are unable to receive additional cash infusions from these
      parties, we will need to obtain additional capital through equity or debt
      financing to sustain operations. Failure to obtain such financing could have
      a
      material adverse effect on operations and financial condition.





Accordingly,
      the company is seeking additional debt or equity financing or funding from
      third
      parties, in exchange for which the company might be required to issue a
      substantial equity position. There is no assurance that the company will be
      able
      to obtain additional financing on terms acceptable to its Management. If
      Management is successful in obtaining additional funding, these funds will
      be
      used primarily to expand sales and marketing efforts of its homebuilding
      operations (new home and renovation sales) in the Carolinas (covering North
      and
      South Carolina) and the Gulf Coast region, implementing marketing and sales
      for
      its membership and satellite builder programs in the southeast and eventually
      nationally, on-going software development to improve its system and to provide
      working capital needed for repayment of outstanding notes payable. The Company
      also continues to explore acquisition opportunities that may assist in the
      successful implementation of its business plan (see Note 9B Other Matters for
      further discussion on this item).







-25-




Demand
      for our services will be dependent on, among other things, market acceptance
      of
      our services, the real estate market in general, and general economic
      conditions, which are cyclical in nature. Inasmuch as a major portion of our
      activities is the receipt of revenues from the sales of new home services,
      our
      business operations may be adversely affected by our competitors and prolonged
      recessionary periods. The company has provided a detailed list of risks and
      cautionary statements at the beginning of this document.




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





None





**ITEM
      9A. CONTROLS AND PROCEDURES**





*QuarterlyEvaluation
      of Controls* .
      As of
      the end of the period covered by this annual report on Form 10-KSB, we evaluated
      the effectiveness of the design and operation of our disclosure controls and
      procedures ("Disclosure Controls"). This evaluation (“Evaluation”) was performed
      by our Chairman and Chief Executive Officer, Gregory J. Wessling, and President
      and Founder, Robert V. McLemore (jointly known as “CEO”), our Chief Financial
      Officer, Richard A. von Gnechten (“CFO”) and our Chief Administrative Officer,
      Christine M. Carriker. In addition, we have discussed these matters with our
      securities counsel. In this section, we present the conclusions of our CEO
      and
      CFO based on and as of the date of the Evaluation with respect to the
      effectiveness of our Disclosure Controls.





*CEO
      and CFO Certifications* .
      Attached to this annual report, as Exhibits 31.1 through 31.4, are certain
      certifications of the CEO and CFO, which are required in accordance with the
      Exchange Act and the Commission's rules implementing such section (the "Rule
      13a-14(a)/15d-14(a) Certifications"). This section of the annual report contains
      the information concerning the Evaluation referred to in the Rule
      13a-14(a)/15d-14(a) Certifications. This information should be read in
      conjunction with the Rule 13a-14(a)/15d-14(a) Certifications for a more complete
      understanding of the topic presented.





*Disclosure
      Controls* .
      Disclosure Controls are procedures designed with the objective of ensuring
      that
      information required to be disclosed in our reports filed with the Commission
      under the Exchange Act, such as this quarterly report, is recorded, processed,
      summarized and reported within the time period specified in the Commission's
      rules and forms. Disclosure Controls are also designed with the objective of
      ensuring that material information relating to us is made known to the CEO
      and
      the CFO by others, particularly during the period in which the applicable report
      is being prepared.





*Limitations
      on the Effectiveness of Controls* .
      Our
      management does not expect that our Disclosure Controls will prevent all error
      and all fraud. A control system, no matter how well developed and operated,
      can
      provide only reasonable, but not absolute assurance that the objectives of
      the
      control system are met. Further, the design of the control system must reflect
      the fact that there are resource constraints, and the benefits of controls
      must
      be considered relative to their design and monitoring costs. Because of the
      inherent limitations in all control systems, no evaluation of controls can
      provide absolute assurance that all control issues and instances of fraud,
      if
      any, within the Company have been detected. These inherent limitations include
      the realities that judgments in decision-making can be faulty, and that
      breakdowns can occur because of simple error or mistake. Additionally, controls
      can be circumvented by the individual acts of some persons, by collusion of
      two
      or more people, or by management override of the control. The design of a system
      of controls also is based in part upon certain assumptions about the likelihood
      of future events, and there can be no assurance that any design will succeed
      in
      achieving its stated objectives under all potential future conditions. Over
      time, control may become inadequate because of changes in conditions, or because
      the degree of compliance with the policies or procedures may deteriorate.
      Because of the inherent limitations in a cost-effective control system,
      misstatements due to error or fraud may occur and not be detected.





*Scope
      of the Evaluation* .
      The CEO
      and CFO's evaluation of our Disclosure Controls included a review of the
      controls' (i) objectives, (ii) design, (iii) implementation, and (iv) the effect
      of the controls on the information generated for use in this quarterly report.
      In the course of the Evaluation, the CEO and CFO sought to identify data errors,
      control problems, acts of fraud, and they sought to confirm that appropriate
      corrective action, including process improvements, was being undertaken. This
      type of evaluation is done on a quarterly basis so that the conclusions
      concerning the effectiveness of our controls can be reported in our quarterly
      reports on Form 10-QSB and annual reports on Form 10-KSB. The overall goals
      of
      these various evaluation activities are to monitor our Disclosure Controls,
      and
      to make modifications if and as necessary. Our intent in this regard is that
      the
      Disclosure Controls will be maintained as dynamic systems that change (including
      improvements and corrections) as conditions warrant.





-26-


*Conclusions.* Based
      upon the Evaluation, our disclosure controls and procedures are designed to
      provide reasonable assurance of achieving our objectives. Our CEO and CFO have
      concluded that our disclosure controls and procedures are effective at that
      reasonable assurance level to ensure that material information relating to
      the
      Company is made known to management, including the CEO and CFO, particularly
      during the period when our periodic reports are being prepared, and that our
      Internal Controls are effective at that assurance level to provide reasonable
      assurance that our financial statements are fairly presented inconformity with
      accounting principals generally accepted in the United States. Additionally,
      there has been no change in our Internal Controls that occurred during our
      most
      recent fiscal quarter that has materially affected, or is reasonably likely
      to
      affect, our Internal Controls.





**ITEM
      9B. OTHER MATTERS**





Part
      of
      HouseRaising, Inc.’s strategy is to build its business through the merger or
      acquisition of existing homebuilders and technology companies that will benefit
      our application service business. It is reasonable to expect that such activity
      is an ongoing part of HRI’s business development efforts. At any given time the
      company could be in process of analyzing or negotiating
      an offer in connection with such a transaction. However, any discussion or
      speculation on specific transactions is only conjecture until such time that
      a
      definite agreement is signed and announced in an SEC filing and press relese.
      It
      is possible that no transactions will take place at all.





**Current
      Status of Announced Transactions**





The
      Company has previously announced an agreement in principle to acquire
      LearnBytes, LLC, a North Carolina limited liability company, which is engaged
      in
      the business of web-based multimedia program design and development. The Company
      entered into an asset purchase agreement with LearnBytes, LLC dated as of August
      1, 2005 pursuant to the company purchasing all the assets of LearnBytes, LLC,
      including intellectual property and its name, for 500,000 restricted shares
      of
      HouseRaising stock as reported on SEC Form 8-K on August 10, 2005, incorporated
      herein by reference. The valuation of assets purchased in this agreement is
      approximately $150,000, based on unaudited financial statements. The transaction
      closed on August 4, 2005. HouseRaising subsequently entered into consulting
      agreements with the former LearnBytes, LLC personnel with the principal purpose
      in the near term to complete System C for the company and in the long-term
      to
      build and run HouseRaisingAcademy.





On
      April
      22, 2005, HouseRaising entered into an agreement to acquire Integrity
      Contractors Inc. (“ICI”) of Pensacola, Florida. The acquisition itself will not
      have a material impact on the balance sheet of the Company and was completed
      in
      the second quarter.





**Affiliation
      Agreements**





On
      March
      31, 2005, HRI and CitiMortgage, Inc. (“CitiMortgage”) entered into an
      Affiliation Agreement pursuant to which CitiMortgage will be the sole and
      exclusive lender participating with HouseRaising and will have the right of
      first offer on all construction and permanent mortgage financing to HRI’s
      customers. In return, CitiMortgage has granted HRI a non-exclusive right to
      use
      the CitiMortgage name and logo in HRI’s advertising for the purpose of
      indicating the availability of loan financing by CitiMortgage to qualified
      applicants.





On
      July
      11, 2005, HRI announced the formation of a strategic partnership and operating
      line of credit with Wachovia Corp. Through this partnership, Wachovia has agreed
      to become the lead bank in assisting HouseRaising to fund its national expansion
      plan. Wachovia also approved a $1.75 million line of credit to fund the
      Company’s operational requirements which is secured by equity security of the
      company beneficially owned by an officer of the company. Wachovia is one of
      the
      nation’s foremost banking and financial service institutions.





**Other
      Events**





On
      November 1, 2005, HouseRaising entered
      into a Lease Agreement (“Lease”) whereby the Company agreed tolease
      the
      entire second floor at Independence Tower (approximately 11,000 square feet)
      located at 4801 E. Independence Boulevard, Charlotte, NC for an annual rent
      obligation of approximately $100,000. HouseRaising will utilize this additional
      space for estimators and designers recruited to support the Company’s Gulf Coast
      initiative and a sales and product display center to support operations in
      North
      and South Carolina. The space will continue to serve as corporate headquarters
      for HouseRaising, Inc. and HouseRaisingAcademy, which include the Company’s
      recent consolidation of its acquisition of LearnBytes, LLC.


-27-


**PART
      III**





**ITEM
      10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT**





Information
      for this item concerning HouseRaising, Inc. executive officers and their
      business experience is incorporated by reference from page 9-10 of the Company’s Definitive
      Information Statement on Schedule14-C filed pursuant to the Company’s 2006
      Annual Shareholders Meeting (the “Definitive Information Statement”).
      Information on the current HouseRaising, Inc. directors and their business
      experience and directorships is incorporated herein by reference from pages
      4-7
      of the Definitive Information Statement.





**Family
      relationships; director arrangements**





Robert
      V.
      McLemore, President and Founder is the father of Christine M. Carriker, Chief
      Administrative Officer, Secretary/Treasurer and Director and Elizabeth A.
      McLemore, Director. There are no other family relationships between any
      executive officer or director of HouseRaising, Inc.





**Code
      of Ethics**





The
      company formulated and adopted a code of ethics after working with its legal
      counsel and Audit Committee that applies to our company and our principal chief
      executive officer, principal financial officer, principal accounting officer
      or
      controller, or person performing similar functions (the “Code of Ethics”). A
      copy of the Code of Ethics was attached as Exhibit 14.1 to SEC Form 10-KSB
      filed
      on March 30, 2005 and is incorporated herein by reference. The Code of Ethics
      was designed with the intent to deter wrongdoing, and to promote the following:


·
            Honest
                and ethical conduct, including the ethical handling of action or
                apparent
                conflicts of interest between personal and professional
                relationships;


·
            Full,
                fair, accurate, timely and understandable disclosure in reports and
                documents that a small business issuer files with, or submits to,
                the
                Commission and in other public communications made by the small business
                issuer;


·
            Compliance
                with applicable governmental laws, rules and
                regulations;


·
            The
                prompt internal reporting of violations of the code to an appropriate
                person or persons identified in the code;
                and


·
            Accountability
                for adherence to the code.





**ITEM
      11. EXECUTIVE COMPENSATION**





The
      information required under this item for HouseRaising, Inc. is incorporated
      by
      reference from pages 11-14 of the Definitive
      Information Statement.





**Board
      Compensation**





Directors
      who are also officers of the Company do not receive directors’ fees or other
      amounts in compensation for participation on the Board of Directors or a
      committee of the Board of Directors. All other directors are each paid travel
      expenses for each meeting of the Board of Directors attended.





**2004
      Non-Qualified Stock Compensation Plan and Amendment
      Thereto**





The
      Company adopted a 2004 Non-Qualified Stock Compensation Plan on September 28,
      2004, and filed a Registration Statement on Form S-8 with the Commission to
      register shares awarded under the Plan on the same date. The Compensation
      Committee of the Board of Directors issues common stock and awards options
      to
      employees, directors, officers, consultants, advisors and other persons
      associated with our Company. The 2004 Plan is intended to provide a method
      whereby our company would be stimulated by the personal involvement of our
      employees, directors, officers, consultants, advisors and other persons in
      our
      business and reward such involvement, thereby advancing the interests of our
      Company and all of its shareholders. A total of 3,000,000 shares of common
      stock
      were authorized under the 2004 Plan and all
      3,000,000 shares have been awarded. On April 6, 2005, the Company filed
      Amendment No. 1 to its Registration Statement on Form S-8 with the Commission,
      and amended the 2004 Non-Qualified Stock Compensation Plan to provide for the
      issuance of an additional 1,000,000 shares pursuant to its provisions. All
      1,000,000 shares have been awarded. On July 8, 2005, the Company filed Amendment
      No. 2 to its Registration Statement on Form S-8 with the Commission, and amended
      the 2004 Non-Qualified Stock Compensation Plan to provide for the issuance
      of an
      additional 2,000,000 shares pursuant to its provisions. All 2,000,000 shares
      have been awarded. On November 23, 2005, the Company filed Amendment No. 3
      to
      its Registration Statement on Form S-8 with the Commission and amended the
      2004
      Non-Qualified Stock Compensation Plan to provide for the issuance of an
      additional 2,000,000 shares pursuant to its provisions. As of December 31,
      2005
      131,196 shares have been awarded to consultants or management personnel and
      1,868,804 are available for issuance.





-28-


**Management
      Agreements with Key Personnel**





The
      company has management agreements with its Chief Executive Officer, President, Chief
      Technology Officer, Chief Administrative Officer and Chief Financial Officer.
      Mr. Wessling has a Management Agreement with the Company dated June 23, 2005
      to
      serve as CEO as reported on SEC Form 8-K filed on July 1, 2005. Mr. McLemore
      has
      a Management Agreement, as amended, with the Company to serve as President
      as
      reported on SEC Form 10-QSB filed on November 15, 2005. Nr. Neerings has a
      Consulting Agreement with the Company to serve as Chief Technology Officer
      of
      the Company and President of HouseRaising Academy, LLC (a subsidiary of the
      Company) dated August 1, 2005 as reported on SEC Form 8-K filed on August 10,
      2005. Ms. Carriker has a Management Agreement with the Company to serve as
      Chief
      Administrative Officer, Senior Vice President and Secretary/Treasurer dated
      January 1, 2005 as reported on SEC Form 10-KSB filed on March 30, 2005. Mr.
      von
      Gnechten has a Management Agreement with the Company, through Ravon Corporation,
      to serve as Chief Financial Officer dated February 14, 2005, as amended, as
      reported on SEC Form 10-KSB on March 30, 2005.




**Executive
      Management Compensation**





The
      HouseRaising Compensation Committee, composed of 3 directors of HouseRaising,
      Inc. approves executive compensation for the Named Executive Officers. The
      information required to be disclosed concerning the Compensation Committee
      is
      incorporated herein by reference to pages 11-14 of the Company’s Definitive
      Information Statement. Actions of HouseRaising’s Compensation Committee are
      subject to ratification by the full HouseRaising, Inc. Board of Directors.





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





Information
      concerning security ownership of certain beneficial owners and management,
      and
      related stockholder matters, is incorporated by reference from the Company’s
      Definitive Information Statement.





**Section
      16(a) beneficial ownership reporting compliance**





Section
      16(a) of the Exchange Act, requires the Company's officers, Directors, and
      persons who beneficially own more than ten percent of the Common Stock to file
      reports of securities ownership and changes in such ownership with the
      Securities and Exchange Commission. Officers, directors and greater than ten
      percent beneficial owners also are required by rules promulgated by the
      Securities and Exchange Commission to furnish the Company with copies of all
      Section 16(a) forms they file. The information required by this item is
      incorporated herein by reference to pages 8 and 10-11 of the Company’s
      Definitive Information Statement.





**ITEM
      13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.**





Except
      as
      hereafter described, none of our directors or executive officers had a direct
      or
      indirect material interest in any transaction during the last two years, or
      proposed transaction, to which the Company was a party. The Company has a loan
      payable to stockholders at December 31, 2005 consisting of unsecured note
      payable to our President and majority stockholder. As of December 31, 2005,
      the
      amount due on this 12-month, 6% per annum loan was $429,138.





**ITEM
      14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**





The
      information required under this item is incorporated by reference to the
      relevant information in the section relating to the Audit Committee Report
      of
      the Company’s Definitive Information Statement filed with the Commission (but no
      other part of the “Audit Committee Report” is incorporated by
      reference).








-29-


**PART
      IV**





**ITEM
      15. EXHIBITS AND REPORTS ON FORM 8-K**





**(a)
      Reports on Form 8-K**





Subsequent
      to September 30, 2005, the Company filed the following Current Reports on Forms
      8-K with the SEC as follows:





Dated
                (filing date)
            
            Items
                ReportedNovember
                1, 2005 (November 4, 2005)
            
            Form
                8-K Entry Material Agreement





**(b)
      Exhibits**





Exhibits
      for HouseRaising and its subsidiaries are listed below.





**INDEX
      TO EXHIBITS**





The
      exhibits designated by an asterisk (*) are filed herein. The exhibits not so
      designated are incorporated by reference to the indicated filing.





Exhibit
                No
            Descriptions2.1.1
            Agreement
                and Plan of Merger, dated February 19, 2004 (incorporated by reference
                from Exh. 2 to the Definitive Information Statement filed on August
                10,
                2004)3.1
            Articles
                of Incorporation (incorporated by reference from Exh.3 of Form SB-2
                filed
                April 11, 2002)3.2
            Articles
                of Amendment to Articles of Incorporation to Change Name (incorporated
                by
                reference from Exh. 3 to the Definitive Information Statement filed
                August
                10, 2004)3.3
            Bylaws
                of HouseRaising, Inc. (incorporated by reference from Exh.3 to Form
                SB-2
                filed April 11, 2002)3.4
            Articles
                of Amendment for Class A Voting Convertible Preferred Stock (incorporated
                by reference from Exh. 4 to the Definitive Information Statement
                filed
                August 10, 2002)10.1
            Management
                agreement with Robert V. McLemore, President and Founder (incorporated
                by
                reference from Exh 10.1 from Form 10-QSB filed on November 15,
                2005)10.2
            Management
                agreement with Gregory J. Wessling, Chairman & Chief Executive Officer
                (incorporated by reference from Form 8-K filed on July 1,
                2005)10.3
            Management
                agreement with Grant Neerings, Chief Technology Officer (incorporated
                by
                reference from Form 8-K filed on August 10, 2005)10.4
            Management
                agreement with Christine M. Carriker, Chief Administrative Officer
&
                Senior Vice President (incorporated by reference to Exh 10.4 from
                Form
                10-KSB filed on March 30, 2005)10.5
            Management
                agreement with Richard A. von Gnechten, Chief Financial Officer
                (incorporated by reference from Exh 10.5 from Form 10-KSB filed on
                March
                30, 2005)14.1
            The
                Company’s Code of Ethics (incorporated by reference from Exh 14.1 to Form
                10-KSB filed March 30, 2005)16.1
            Letter
                on Change in Certifying Accountant (incorporated by reference from
                Exh. 16
                to a Form 8K/A filed October 5, 2004)21
            Subsidiaries
                of the Registrant*31.1
            Rule
                13a-14(a)/15d-14(a) Certification of Gregory J. Wessling, Chairman
                and
                Chief Executive Officer*31.2
            Rule
                13a-14(a)/15d-14(a) Certification of Robert V. McLemore, President
                and
                Founder*31.3
            Rule
                13a-14(a)/15d-14(a) Certification of Richard A. von Gnechten, Chief
                Financial Officer*31.4
            Rule
                13a-14(a)/15d-14(a) Certification of Christine M. Carriker, Senior
                Vice
                President & Chief Administrative Officer*32.5
            Section
                1350 Certification of Gregory J. Wessling, Chairman and Chief Executive
                Officer*32.6
            Section
                1350 Certification of Robert V. McLemore, President and
                Founder*32.7
            Section
                1350 Certification of Richard A. von Gnechten, Chief Financial
                Officer*32.8
            Section
                1350 Certification of Christine M. Carriker, Senior Vice President
                and
                Chief Administrative Officer*


_________________________________


*-Filed
      herewith





-signature
      page follows-




-30-





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.





HOUSERAISING,
                INC.(Registrant)Date:
                March 31, 2006
            /s/
                Gregory J. WesslingGregory
                J. WesslingChairman
                of the Board andChief
                Executive Officer(Principal
                Executive Officer)Date:
                March 31, 2006
            /s/
                Robert V. McLemoreRobert
                V. McLemorePresident
                and Founder(Principal
                Executive Officer)Date:
                March 31, 2006
            /s/
                Richard A. von GnechtenRichard
                A. von GnechtenChief
                Financial Officer(Principal
                Financial Officer)Date:
                March 31, 2006
            /s/
                Christine M. CarrikerChristine
                M. CarrikerChief
                Administrative Officer,Secretary/Treasurer
                & SVP(Principal
                Accounting Officer)





Pursuant
      to the requirements of the Securities Exchange Act of 1934, this report has
      been
      signed below by the following persons on behalf of the registrants and in the
      capacities indicated on March
      31,
      2005.





Signature
            
            Title/s/Gregory
                J. Wessling
            
            Chairman
                of the Board of Directors and Chief Executive OfficerGregory
                J. Wessling
            
            (Principal
                Executive Officer)/s/Robert
                V. McLemore
            
            Founder,
                President and Director of HouseRaising, Inc.Robert
                V. McLemore
            
            (Principal
                Executive Officer)/s/Richard
                A. von Gnechten
            
            Chief
                Financial Officer of HouseRaising, Inc.Richard
                A. von Gnechten
            
            (Principal
                Financial Officer)








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/s/Christine
                M. Carriker
            
            Chief
                Administrative Officer, Secretary/Treasurer, SVPChristine
                M. Carriker
            
            and
                Director of HouseRaising, Inc.(Principal
                Accounting Officer)/s/Grant
                S. Neerings
            
            Chief
                Technology Officer and Director of HouseRaising, Inc.
                andGrant
                Neerings
            
            President
                and Chief Manager of HouseRaisingAcademy, LLC/s/Robert
                M. Burroughs
            
            Director
                of HouseRaising, Inc.Robert
                M. Burroughs/s/Daniel
                S. Fogel
            
            Director
                of HouseRaising, Inc.Daniel
                S. Fogel/s/Elizabeth
                A. McLemore
            
            Director
                of HouseRaising, Inc.Elizabeth
                A. McLemore





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