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| UNITED                STATES SECURITIES AND EXCHANGE COMMISSION**WASHINGTON,                D.C. 20549**                                                                                                                                                                                                                                                                                                                                                                                                     |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | **FORM                20-F/A****(Amendment                No.1)** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |
| o    REGISTRATION                STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE                ACT                OF 1934OR                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| x    ANNUAL                REPORT                PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934 FOR                THE FISCAL YEAR ENDED DECEMBER 31, 2006OR                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| o    TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE                ACT OF                1934OR                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| o    SHELL                COMPANY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT of                1934 Date                of event requiring this shell company report                ........................                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| For                the transition period from __________ to __________.                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Commission                File No. **001-14835**                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **NORTHCORE                TECHNOLOGIES INC.** (Exact                name of Registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **Not                Applicable**(Translation                of Registrant’s name into English)                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **ONTARIO,                CANADA**(Jurisdiction                of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **302                The East Mall, Suite 300 Toronto, Ontario M9B 6C7**(Address                of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Securities                registered or to be registered pursuant to Section 12(b) of the                Act.**None** |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Securities                registered or to be registered pursuant to Section 12(g) of the                Act.**Common                Shares** |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Securities                for which there is a reporting obligation pursuant to Section 15(d)                of the                Act.**None** |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Indicate                the number of outstanding shares of each of the issuer’s classes of                capital or common stock as of the close of the period covered by                the                Annual Report.                                                                                                                                                                                                                                                                                |
| **83,742,508                Common Shares as of December 31, 2006**                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                by check mark if the registrant is a well-known seasoned issuer as                defined                in Rule 405 of the Securities ActYes                o    No                x                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| If                this report is an annual or transition report, indicate by check                mark if                the registrant is not required to file reports pursuant to Section                13 or                15 (d) of the Securities Exchange Act of 1934.Yes                o    No                x                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                by check mark whether the registrant (1) has filed all reports required                to                be filed by Section 13 or 15(d) of the Securities Exchange Act of                1934                during the preceding 12 months (or for such shorter period that the                registrant was required to file such reports), and (2) has been subject                to                such filing requirements for the past 90 days.                                  |
| Yes                x    No                o                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                by check mark whether the registrant is a large accelerated filer,                an                accelerated filer, or a non-accelerated filer.  See definition                of “accelerated filer and large accelerated filer” in Rule 12b-2 of the                Exchange Act. (Check one):Large                Accelerated filer o    Accelerated                filer o    Non-accelerated                filer x |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                by check mark which financial statement item the registrant has elected                to                follow.                                                                                                                                                                                                                                                                                                                                                                          |
| Item                17 o    Item                18                x                                                                                                                                                                                                                                                                                                                                                                                                                      |
| If                this an annual report, indicate by check mark whether the registrant                is a                shell company (as determined in Rule 12b-2 of the Exchange                Act).Yes                o    No                x                                                                                                                                                                                                                                          |

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**TABLE      OF CONTENTS**

| EXPLANATORY                NOTE                                                                                                                                           |   |   | 3      |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                      |   |   |   |   |
| ITEM                18. FINANCIAL STATEMENTS - AUDITOR’S REPORT REGARDING THE CONSOLIDATED                FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2004 |   |   | 4      |   |
|                                                                                                                                                                      |   |   |   |   |
| SIGNATURES                                                                                                                                                                |   |   | 5      |   |
|                                                                                                                                                                      |   |   |   |   |
| EX-99.1                - CERTIFICATION                                                                                                                                    |   |   | 6      |   |
|                                                                                                                                                                      |   |   |   |   |
| EX-99.2                - CERTIFICATION                                                                                                                                    |   |   | 7      |   |
|                                                                                                                                                                      |   |   |   |   |
| EX-99.3                - CERTIFICATION                                                                                                                                    |   |   | 8      |   |
|                                                                                                                                                                      |   |   |   |   |
| EX-99.4                - CERTIFICATION                                                                                                                                    |   |   | 9      |   |
|                                                                                                                                                                      |   |   |   |   |

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**EXPLANATORY      NOTE**

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**AUDITOR’S      REPORT REGARDING THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED      DECEMBER 31, 2004**

**Report      of Independent Registered Chartered Accountants**

**To      the Shareholders of ADB Systems International Ltd.**

***Comments      by Independent Registered Chartered Accountants on Canada - United States      Reporting Difference***

**March      6, 2005**

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**SIGNATURES**

|                                  | NORTHCORE                TECHNOLOGIES INC. |
|---------------------------------------|--------------------------------------------|
|                                  |                                       |   |   |
|                                  |                                       |   |   |
|                                  |                                       |   |   |
|                                  | By:                                        | /s/                Duncan Copeland |
|                                  |                                       | Name: | Duncan                Copeland |
|                                  |                                       | Title: | Chief                Executive Officer |
|                                  |                                       |   |   |
|                                  |                                       |   |   |
|                                  |                                       |   |   |
| Dated:                August 20, 2007 | By:                                        | /s/                Tam Nguyen |
|                                  |                                       | Name: | Tam                Nguyen |
|                                  |                                       | Title: | Corporate                Controller |