----

----

----

----

| Nevada                                                              |   | 95-4696799                           |
|---------------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |

|  Large accelerated filer       ̈         |  Accelerated filer                       ̈ |
|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
|  Non-accelerated filer         ̈         |  Smaller reporting company   x                                                                                                           |
|  (Do not check if a smaller reporting company)         |                                                                                                                                                    |

----

Table of Contents 

TABL

|                         | Page                                                                                  |
|------------------------------|---------------------------------------------------------------------------------------|
| Part I Financial Information |                                                                                  |
|                         |                                                                                  |   |   |
| Item 1.                      | Financial Statements                                                                  | 3 |
|                         |                                                                                  | Condensed Consolidated Balance Sheet as of December 31, 2010 (unaudited) and June 30, 2010 (audited) | 3 |
|                         |                                                                                  | Condensed Consolidated Statements of Operations for the Three and Six Months Ended December 31, 2010 and 2009 (unaudited) | 4 |
|                         |                                                                                  | Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended December 31, 2010 and 2009 (unaudited) | 6 |
|                         |                                                                                  | Notes to Condensed Consolidated Financial Statements (unaudited) | 7 |
|                         |                                                                                  |   |   |
| Item 2.                      | Management's Discussion and Analysis of Financial Condition and Results of Operations | 9 |
|                         |                                                                                  |   |   |
| Item 3.                      | Quantitative and Qualitative Disclosure About Market Risk                             | 12 |
|                         |                                                                                  |   |   |
| Item 4T.                     | Controls and Procedures                                                               | 12 |
|                         |                                                                                  |   |   |
| Part II Other Information    |                                                                                  |
|                         |                                                                                  |   |   |
| Item 2.                      | Unregistered Sales of Equity Securities and Use of Proceeds                           | 13 |
|                         |                                                                                  |   |   |
| Item 5.                      | Other Information                                                                     | 13 |
|                         |                                                                                  |   |   |
| Item 6.                      | Exhibits                                                                              | 13 |
|                         |                                                                                  |   |   |
|                         | Signatures                                                                            | 14 |

----

Table of Contents 

ITEM 1.  FINANCIAL 

CONDENSED 

|                                                                                                                                                                             |   | Dec 31, 2010 |        |   | June 30, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|---------------|--------|
|                                                                                                                                                                             |   | (unaudited)  |        |   | (audited)     |   |
| ASSETS                                                                                                                                                                           |   |         |        |   |          |   |
| Current assets:                                                                                                                                                                  |   |         |        |   |          |   |
| Cash and cash equivalents                                                                                                                                                        |   | $            | 1,000       |   |          | $      | 86,644 |   |
| Accounts receivable, net of allowance for doubtful accounts of $-0-    at December 31, 2010 and June 30, 2010, respectively                                  |   |         | 344,780     |   |          |   | 10,000 |   |
| Prepaid Expenses                                                                                                                                                                 |   |         | 4,691       |   |          |   | 6,001 |   |
| Total Current Assets                                                                                                                                                             |   |         | 350,471     |   |          |   | 102,645 |   |
| Property and equipment, net                                                                                                                                                      |   |         | 5,028       |   |          |   | 8,291 |   |
| Other Assets                                                                                                                                                                     |   |         |        |   |          |   |   |   |
| Technology and Medical Software, net                                                                                                                                             |   |         | 4,022,395   |   |          |   | 4,996,785 |   |
|                                                                                                                                                                             |   |         | 4,022,395   |   |          |   | 4,996,785 |   |
| Total Assets                                                                                                                                                                     |   | $            | 4,377,894   |   |          | $      | 5,107,721 |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                             |   |         |        |   |          |   |   |   |
| Current liabilities:                                                                                                                                                             |   |         |        |   |          |   |   |   |
| Notes payable –– banks                                                                                                                                               |   | $            | 29,939      |   |          | $      | 59,181 |   |
| Short-term notes payable                                                                                                                                                         |   |         | 3,350,421   |   |          |   | 5,487,120 |   |
| Accounts payable and accrued expenses                                                                                                                                            |   |         | 1,725,981   |   |          |   | 1,791,671 |   |
| Deferred income                                                                                                                                                                  |   |         | 59,000      |   |          |   | 60,000 |   |
| Total Current Liabilities                                                                                                                                                        |   |         | 5,165,341   |   |          |   | 7,397,972 |   |
| Other long-term liabilities                                                                                                                                                      |   |         |        |   |          |   |   |   |
| Long-term notes payable                                                                                                                                                          |   |         | -           |   |          |   | 1,271,661 |   |
| Total Liabilities                                                                                                                                                                |   |         | 5,165,341   |   |          |   | 8,669,663 |   |
| Stockholders’ Equity (Deficit)                                                                                                                                             |   |         |        |   |          |   |   |   |
| Preferred stock , par value $.001, authorized 200,000,000. Issued and outstanding -39- shares   and -0- shares as of Dec 31, 2010 and June 30, 2010, respectively           |   |         | 0           |   |          |   | 0 |   |
| Common stock, par value $.001 per share, authorized 600,000,000. Issued and outstanding:  310,744,847 and 229,082,187 shares at Dec 31, 2010 and June 30 2010, respectively |   |         | 310,745     |   |          |   | 229,082 |   |
| Additional Paid in Capital                                                                                                                                                       |   |         | 42,913,455  |   |          |   | 37,849,158 |   |
| Less: Treasury stock, 368,407 shares at both December 31, 2010 and June 30, 2010                                                                                                 |   |         | (508,195    | )      |          |   | (508,195 | ) |
| Accumulated deficit                                                                                                                                                              |   |         | (43,503,452 | )      |          |   | (41,131,957 | ) |
| Total Stockholders’ Equity (Deficit)                                                                                                                                       |   |         | (787,447    | )      |          |   | (3,561,912 | ) |
| Total Liabilities and Stockholders’ Equity (Deficit)                                                                                                                       |   | $            | 4,377,894   |   |          | $      | 5,107,721 |   |

----

Table of Contents 

CONDENSED 

|                                                    |   | For the three     |        |    | For the three     |   |
|---------------------------------------------------------|--------|-------------------|-------------|---------|-------------------|--------|
|                                                    |   | months ended      |        |    | months ended      |   |
|                                                    |   | December 31, 2010 |        |    | December 31, 2009 |   |
|                                                    |   | (unaudited)       |        |    | (unaudited)       |   |
|                                                    |   |              |        |    |              |   |
| Revenues:                                               |   | $                 | 296,034     |    |              | $      | 65,832 |   |
| Cost of Services                                        |   |              | 296         |    |              |   | 2,439 |   |
| Gross Profit                                            |   |              | 295,738     |    |              |   | 63,143 |   |
|  Expenses:                                         |   |              |        |    |              |   |   |   |
| Stock issued for fees and services                      |   |              | 254,696     |    |              |   | - |   |
| Consulting, commissions and travel                      |   |              | 48,038      |    |              |   | 42,089 |   |
| Operational fees and expenses                           |   |              | 88,868      |    |              |   | 130,172 |   |
| Professional fees                                       |   |              | 10,895      |    |              |   | 31,040 |   |
| Payroll and related taxes                               |   |              | 146,973     |    |              |   | 175,427 |   |
| Depreciation and amortization                           |   |              | 516,537     |    |              |   | 510,187 |   |
| Production, advertising, brochures and public relations |   |              | 3,500       |    |              |   | 38,082 |   |
| Total Expenses                                          |   |              | 1,069,507   |    |              |   | 926,997 |   |
| Loss before other expenses                              |   |              | (773,769    | )       |              |   | (863,854 | ) |
|  Other Income/(Expenses):                          |   |              |        |    |              |   |   |   |
| Other Income – Relinquishment of Debt             |   |              | 91,511      |    |              |   | - |   |
| Redemption Fee Expense                                  |   |              |        |    |              |   | (160,646 | )  |
| Interest expense                                        |   |              | (77,352     | )       |              |   | (101,823 | ) |
| Total Other Income/(Expenses)                           |   |              | 14,159      |    |              |   | (262,469 | ) |
|                                                    |   |              |        |    |              |   |   |   |
| Net loss available to common stockholders               |   | $                 | (759,610    | )       |              | $      | (863,854 | ) |
|                                                    |   |              |        |    |              |   |   |   |
| Net loss per share, available to common stockholders    |   |              | (0.00       | )  |              |   | (0.01 | )  |
|                                                    |   |              |        |    |              |   |   |   |
| Weighted average number of shares, basic and diluted    |   |              | 268,365,569 |    |              |   | 123,044,835 |   |

----

Table of Contents 

|                                                    |   | For the six       |        |    | For the six       |   |
|---------------------------------------------------------|--------|-------------------|-------------|---------|-------------------|--------|
|                                                    |   | months ended      |        |    | months ended      |   |
|                                                    |   | December 31, 2010 |        |    | December 31, 2009 |   |
|                                                    |   | (unaudited)       |        |    | (unaudited)       |   |
|                                                    |   |              |        |    |              |   |
| Revenues:                                               |   | $                 | 344,631     |    |              | $      | 131,414 |   |
| Cost of Services                                        |   |              | 1,508       |    |              |   | 7,937 |   |
| Gross Profit                                            |   |              | 343,123     |    |              |   | 123,447 |   |
|  Expenses:                                         |   |              |        |    |              |   |   |   |
| Stock issued for fees and services                      |   |              | 545,308     |    |              |   | 1,261,393 |   |
| Consulting, commissions and travel                      |   |              | 114,401     |    |              |   | 35,115 |   |
| Operational fees and expenses                           |   |              | 245,605     |    |              |   | 348,187 |   |
| Professional fees                                       |   |              | 10,895      |    |              |   | 97,415 |   |
| Payroll and related taxes                               |   |              | 327,539     |    |              |   | 448,086 |   |
| Depreciation and amortization                           |   |              | 1,032,653   |    |              |   | 1,013,624 |   |
| Production, advertising, brochures and public relations |   |              | 24,425      |    |              |   | 86,208 |   |
| Total Expenses                                          |   |              | 2,300,826   |    |              |   | 3,290,028 |   |
| Loss before other expenses                              |   |              | (1,957,703  | )       |              |   | (3,166,551 | ) |
|  Other Income/(Expenses):                          |   |              |        |    |              |   |   |   |
| Other Income – Relinquishment of Debt             |   |              | 91,511      |    |              |   | - |   |
| Redemption Fee Expense                                  |   |              |        |    |              |   | (321,292 | )  |
| Interest expense                                        |   |              | (319,303    | )       |              |   | (202,044 | ) |
| Total Other Income/(Expenses)                           |   |              | (227,792    | )       |              |   | (523,336 | ) |
| Loss before dividend                                    |   |              | (2,185,495  | )       |              |   |   |   |
|                                                    |   |              |        |    |              |   |   |   |
| Dividends Related to Warrants Issued                    |   |              | 186,000     |    |              |   |   |   |
|                                                    |   |              |        |    |              |   |   |   |
| Net loss available to common stockholders               |   | $                 | (2,371,495  | )       |              | $      | (3,689,887 | ) |
|                                                    |   |              |        |    |              |   |   |   |
| Net loss per share, available to common stockholders    |   |              | (0.01       | )  |              |   | (0.03 | )  |
|                                                    |   |              |        |    |              |   |   |   |
| Weighted average number of shares, basic and diluted    |   |              | 268,365,569 |    |              |   | 125,879,009 |   |

----

Table of Contents 

CONDENSE

|                                          |   | For the six       |     |    | For the six       |   |
|-----------------------------------------------|--------|-------------------|----------|---------|-------------------|--------|
|                                          |   | months ended      |     |    | months ended      |   |
|                                          |   | December 31, 2010 |     |    | December 31, 2009 |   |
|                                          |   | (unaudited)       |     |    | (unaudited)       |   |
| Cash Flows From Operating Activities:         |   |              |     |    |              |   |
| Receipts from customers                       |   | $                 | 8,851    |    |              | $      | 69,794 |   |
| Payments to suppliers, salaries               |   |              | (697,241 | )       |              |   | (941,463 | ) |
| Interest paid                                 |   |              | (191,118 | )  |              |   | (22,078 | )  |
| Net Cash Used in Operating Activities         |   |              | (879,508 | )       |              |   | (893,747 | ) |
|                                          |   |              |     |    |              |   |   |   |
| Cash Flows Used in Investing Activities:      |   |              |     |    |              |   |   |   |
| Purchase of Technology & Medical Software |   |              | (55,000  | )  |              |   |   |   |
| Net Cash Used in Investing Activities         |   |              | (55,000  | )  |              |   | - |   |
|                                          |   |              |     |    |              |   |   |   |
| Cash Flows From Financing Activities:         |   |              |     |    |              |   |   |   |
| Payments on notes payable                     |   |              | (44,242  | )       |              |   | (25,000 | ) |
| Short term loans proceeds                     |   |              | 409,106  |    |              |   | 900,500 |   |
| Sale of  common stock               |   |              | 484,000  |    |              |   | - |   |
| Net Cash Provided by Financing Activities     |   |              | 848,864  |    |              |   | 875,500 |   |
|                                          |   |              |     |    |              |   |   |   |
| Net Increase/(Decrease) in Cash               |   |              | (85,644  | )       |              |   | (18,247 | ) |
|                                          |   |              |     |    |              |   |   |   |
| Cash at the Beginning of Period               |   |              | 86,644   |    |              |   | 52,615 |   |
|                                          |   |              |     |    |              |   |   |   |
| Cash at End of Period                         |   | $                 | 1,000    |    |              | $      | 34,368 |   |

|                                                                         |   |   |       |    |   |   |
|------------------------------------------------------------------------------|--------|--------|------------|---------|--------|--------|
| Reconciliation of Net Loss to Net Cash                                       |   |   |       |    |   |   |
|      Used by Operating Activities                   |   |   |       |    |   |   |
| Net Loss before dividend                                                     |   | $      | (2,185,198 | )       |   | $      | (3,689,887 | ) |
| Adjustments to Reconcile net income/(loss) to net cash                       |   |   |       |    |   |   |   |   |
|         Used by operating activities |   |   |       |    |   |   |   |   |
| Stock issued for fees and services                                           |   |   | 545,308    |    |   |   | 1,261,393 |   |
| Depreciation & Amortization                                              |   |   | 1,032,653  |    |   |   | 1,013,624 |   |
| Relinquishment of debt                                                       |   |   | (91,511    | )  |   |   | - |   |
| Loan accretion                                                               |   |   |       |    |   |   | 321,292 |   |
| Changes in:                                                                  |   |   |       |    |   |   |   |   |
| Trade receivables                                                            |   |   | (334,780   | )  |   |   | - |   |
| Prepaid Expenses                                                             |   |   | 1,310      |    |   |   | (2,606 | )  |
| Accounts payable and accrued expenses                                        |   |   | 25,945     |    |   |   | 84,091 |   |
| Accrued interest payable                                                     |   |   | 127,765    |    |   |   | 179,966 |   |
| Deferred income                                                              |   |   | (1,000     | )  |   |   | (61,620 | )  |
|      Net Cash Used in Operating Activities     |   | $      | (879,508   | )  |   | $      | (893,747 | ) |

----

Table of Contents 

NOTES TO 

| No. Shares           |       |   |       |   |              |           |   |
|----------------------|------------|--------|------------|--------|-------------------|----------------|--------|
| Issuable on Exercise |       |   | Expiration |   |              | Exercise Price |   |
|                 | 1,239,999  |   |       |   | 2011              |           |   | $ | 0.60 |   |
|                 | 1,430,000  |   |       |   | 2011              |           |   | $ | 0.24 |   |
|                 | 1,541,667  |   |       |   | 2011              |           |   | $ | 0.12 |   |
|                 | 4,000,000  |   |       |   | 2013              |           |   | $ | 0.04 |   |
|                 | 13,640,000 |   |       |   | 2013              |           |   | $ | 0.03 |   |
|                 | 16,160,000 |   |       |   | 2013 – 2015 |           |   | $ | 0.05 |   |
|                 |       |   |       |   |              |           |   |   |   |   |

----

Table of Contents 

|                                                               |   | 12/31/2010 |       |   | 6/30/2010 |   |
|--------------------------------------------------------------------|--------|------------|------------|--------|-----------|--------|
| Technology and medical software                               |   | $          | 10,293,893 |   |      | $      | 10,238,892 |   |
| Less: Accumulated Amortization       |   |       | 6,271,498  |   |      |   | 5,242,107 |   |
|                                                               |   | $          | 4,022,395  |   |      | $      | 4,996,785 |   |

|                   |   |   | 12/31/10  |   |
|------------------------|--------|--------|-----------|--------|
| Convertible Debentures |   | $      | 3,111,315 |   |
| Notes Payable          |   |   | 239,106   |   |
| Total                  |   | $      | 3,350,421 |   |

----

Table of Contents 

ITEM 2.  MANAGEMENT'S 

----

Table of Contents 

|                                            |   | Three Months Ended December 31 |      |
|-------------------------------------------------|--------|--------------------------------|-----------|
|                                            |   | (unaudited)                    |      |
|                                            |   | 2010                           |      |   | 2009 |   |
| Net Sales and Revenues                          |   | $                              | 296,034   |   |   | $ | 65,832 |   |
| Cost of Services                                |   |                           | 296       |   |   |   | 2,439 |   |
| Gross Profit                                    |   |                           | 295,738   |   |   |   | 63,143 |   |
|                                            |   |                           |      |   |   |   |   |   |
| Operational General and Administrative Expenses |   |                           | 298,001   |   |   |   | 416,810 |   |
| Depreciation and amortization                   |   |                           | 516,537   |   |   |   | 510,187 |   |
| Stock issued for fees and services              |   |                           | 254,969   |   |   |   | -  |   |
| Total Expenses                                  |   |                           | 1,069,507 |   |   |   | 926,997 |   |
| Loss before other income (expense)              |   | $                              | (773,769) |   |   | $ | (863,854 | ) |

----

Table of Contents 

|                                            |   | Six Months Ended December 31 |        |
|-------------------------------------------------|--------|------------------------------|-------------|
|                                            |   | (unaudited)                  |        |
|                                            |   | 2010                         |        |   | 2009 |   |
| Net Sales and Revenues                          |   | $                            | 344,631     |   |   | $ | 131,414 |   |
| Cost of Services                                |   |                         | 1,508       |   |   |   | 7,937 |   |
| Gross Profit                                    |   |                         | 343,123     |   |   |   | 123,447 |   |
|                                            |   |                         |        |   |   |   |   |   |
| Operational General and Administrative Expenses |   |                         | 732,090     |   |   |   | 1,015,011 |   |
| Depreciation and amortization                   |   |                         | 1,032,473   |   |   |   | 1,013,624 |   |
| Stock issued for fees and services              |   |                         | 515,581     |   |   |   | 1,261,393  |   |
| Total Expenses                                  |   |                         | 2,280,144   |   |   |   | 3,290,028 |   |
| Loss before other income (expense)              |   | $                            | (1,957,703) |   |   | $ | (3,166,551 | ) |

----

Table of Contents 

ITEM 3.     QUANTITATIVE 

ITEM 4T.  

----

Table of Contents 

ITEM 2.     UNREGISTERED 

ITEM 5.  OTHER 

ITEM 6.  EXHIBITS

| 4.1       |         | Secured Convertible Promissory Note of the Company dated April 18, 2009*                                                                                                                             |
|-----------|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |         |                                                                                                                                                                                                 |
| 4.2       |    | Modification Agreement dated December 31, 2010**                                                                                                                                                     |
|      |         |                                                                                                                                                                                                 |
| 4.3       |         | Secured Convertible Promissory Note dated December 31, 2010**                                                                                                                                        |
|      |         |                                                                                                                                                                                                 |
| 4.4       |         | Series “A” Preferred Stock Description**                                                                                                                                                 |
|      |         |                                                                                                                                                                                                 |
| 4.5  |         | Series "B" Preferred Stock Subscription Agreement**                                                                                                                                                  |
|      |         |                                                                                                                                                                                                 |
| 4.6  |         | Series “B” Preferred Stock Description**                                                                                                                                                 |
|      |         |                                                                                                                                                                                                 |
| 31.1      |         | Certification of the President and Chief Executive Officer pursuant to Rule 13a-14(a).                                                                                                               |
|      |         |                                                                                                                                                                                                 |
| 31.2      |         | Certification of the Chief Financial Officer and Treasurer pursuant to Rule 13a-14(a).                                                                                                               |
|      |         |                                                                                                                                                                                                 |
| 32        |         | Certification of the President and Chief Executive Officer and Chief Financial Officer and Treasurer pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002. |

----

Table of Contents 

SIGNAT

|                    | IMedicor, Inc.(Registrant) |                                                               |
|-------------------------|----------------------------|--------------------------------------------------------------------|
|                    |                       |                                                               |   |
| Date: February 22, 2011 | By:                        | /s/ Fred Zolla                                                |   |
|                    |                       | Fred Zolla                                                         |   |
|                    |                       | President and Chief Executive Officer(Principal Executive Officer) |   |
|                    |                       |                                                               |   |

| Date: February 22, 2011 | By:    | /s/ Craig Stout                                          |   |
|-------------------------|--------|---------------------------------------------------------------|--------|
|                    |   | Craig Stout                                                   |   |
|                    |   | Interim Chief Financial Officer(Principal Accounting Officer) |   |
|                    |   |                                                          |   |

----

Table of Contents