SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

                                   (Mark One)
            [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2006
                                       or
          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                    000-25879
                             Commission file number

                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                 (Name of small business issuer in its charter)

           Indiana                                                35-2065469
(State or other jurisdiction                                  (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                           8333 Weston Road Suite 106
                           Woodbridge, Ontario L4L 8E2
           (Address of principal executive offices including zip code)

                                 (416) 626-5346
                                 --------------
                (Issuer's telephone number, including area code)

           Securities registered under Section 12(b) of the Act: None

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

                    Common Stock, $0.001 par value per share
                                (Title or class)

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 [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-B is not contained herein, and will not be contained, to the
best of the 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.
Yes [x] No [ ]

<PAGE>

Issuer's revenues for the fiscal year ended December 31, 2006 were $18,000.

The aggregate market value of the voting and non-voting common equity held by
non-affiliates computed by reference to the average bid and asked price of such
common equity as of March 31, 2007, was approximately $3,000,000.

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

As of April 18, 2007, the Registrant had outstanding 10,863,425 shares of Common
Stock.

Documents Incorporated By Reference:  None

Transitional Small Business Issuer Disclosure Format (check one):
Yes [ ] No [x].

<PAGE>
                                TABLE OF CONTENTS

                                                                            PAGE
                                                                            ----
PART I
    Item 1.     Description of business.....................................  3
    Item 2.     Description of property.....................................  5
    Item 3.     Legal proceedings...........................................  5
    Item 4.     Submission of matters to a vote of security holders.........  5

PART II
    Item 5.     Market for common equity and related stockholder matters....  6
    Item 6.     Management's discussion and analysis or plan of operation...  7
    Item 7.     Financial statements........................................  11
    Item 8.     Changes in and disagreements with accountants on accounting
                  and financial disclosure..................................  24
    Item 8a.    Controls and procedures.....................................  25
    Item 8b.    Other information...........................................

PART III
    Item 9.     Directors, executive officers, promoters
                  and control persons; compliance with
                  section 16(a) of the exchange act ........................  25
    Item 10.    Executive compensation......................................  26
    Item 11.    Security ownership of certain beneficial owners
                  and management............................................  27
    Item 12.    Certain relationships and related transactions..............  28
    Item 13.    Exhibits....................................................  29
    Item 14.    Principal accountant fees and services......................  30

SIGNATURES..................................................................  31

CERTIFICATIONS

                                       2
<PAGE>
                                     PART I

FORWARD-LOOKING STATEMENTS: This annual report contains forward-looking
statements that involve risks and uncertainties that could cause actual results
to differ materially from estimates. The risks and uncertainties associated with
forward-looking statements include, among other things, significant changes in
general economic conditions, both domestic and international; the impact of
market conditions; changes in interest rates; the impact of interest rates and
market conditions on loans, deposits and debt; changes in our tax liability and
rates; decline in value in our capital investments, and our ability and
resources to execute our business strategies and manage risks associated with
potential expansion plans or business initiatives.

Item 1.  Business

Corporate History
-----------------

We were incorporated on October 7, 1996 in the State of Indiana under the
corporate name "MAS Acquisition VII Corp." Prior to August 11, 1999, we were a
blank check company seeking a business combination with unidentified business.
On August 11, 1999, we acquired 100% of the outstanding capital stock of
Dimgroup, Inc., a corporation which was formed in Nevada on April 23, 1999. In
February 2000 we changed our corporate name to "Dimgroup.com Inc." On April 5,
2001, we changed our corporate name to Datastand Technologies, Inc. On February
1, 2007, we changed our corporate name to Metabolic Research, Inc.

We have experienced significant losses for the period from inception to December
31, 2006 aggregating $1,064,389. In addition, we have no significant revenue
producing operations.

Our ability to continue as a going concern is contingent upon our ability to
implement our business plan and to attain profitable operations and secure
financing. In addition, our ability to continue as a going concern must be
considered in light of the problems, expenses and complications frequently
encountered by entrance into established markets and the competitive environment
in which we operate.

Our Activities
--------------

Until January 12, 2007, we were focused on developing and marketing a database
containing fundamental corporate data on companies quoted on the OTCBB for the
purpose of selling licenses to the database's content to customers in a variety
of formats. However, the Board has recently resolved to change the focus of our
Company's business to the development of business opportunities within the
health care industry. We are now focused on investigating new technologies and
other business opportunities in the life sciences and health care fields.

                                       3
<PAGE>

On January 12, 2007, we entered into a License Agreement with Dr. David P.
Summers and T.W. Owen, the inventors and owners of certain technologies covered
by the following provisional patent applications filed with the United States
Patent and Trademark Office: (i) "Composition and Method of Producing Endogenous
Therapeutic Anti-Inflammatory Eiconasids and their Metabolites by Exogenous or
Oral Means," by David P. Summers and T.W. Owen, (USPTO Serial Number
60/570,649); and (ii) "Method and Process for Producing Anti-inflammatory
Products from Fungi," by David P. Summers and T.W. Owen. This license agreement
grants us an exclusive, irrevocable, perpetual license in North America and
Mexico to develop products based on the technologies described in the patent
application. We intend to use the licensed technologies for the purpose of
developing anti-inflammatory and analgesic products for the treatment of
arthritis and other inflammatory diseases. In consideration for the license, we
issued one million shares of our common stock to Dr. Summers and one million
shares of our common stock to Mr. Owen. We may terminate the license agreement
for any reason or no reason, upon at least ninety days prior written notice. In
the event either party commits a breach of its obligations under the license
agreement and fails to cure that breach within sixty days after receiving
written notice thereof, the other party may terminate the agreement immediately
upon written notice to the other party.

On March 14, 2007, we entered into a second license with David P. Summers and
T.W. Owen to exploit the technology described above in certain European markets.
The terms of such license are identical to those of the first license agreement
we entered into with such persons on January, 12, 2007, except for the
territory. In consideration for the license, we issued an additional one million
shares of our common stock to Dr. Summers and an additional one million shares
of our common stock to Mr. Owen. We may terminate the license agreement for any
reason or no reason, upon at least ninety days prior written notice. In the
event either party commits a breach of its obligations under the license
agreement and fails to cure that breach within sixty days after receiving
written notice thereof, the other party may terminate the agreement immediately
upon written notice to the other party.

We are undergoing a comprehensive vertical and horizontal market analysis
preparatory to finalizing strategic plans for July/August market entries in both
North America and Europe. One facet of the market analysis is a framework for
developing our "branding" rationale, product names, graphics, and marketing
support materials.

On February 23, 2007, we entered into a Strategic Alliance Agreement with
Partners In Science Holdings, Inc. under which each of the parties will fully
cooperate with the other in inserting the other party's products into its
marketing and distribution channels. Each party also agreed to extend to the
other party its usual factory discount allowances for sales, including such
rights and residuals as customary. The term of the agreement is for a period of
three years, commencing on February 23, 2007.

In order to reduce or eliminate our dependence on imported resources, we are
interviewing, inspecting, and negotiating with production plants in the United
States with the capacity to produce our key components per our proprietary
methods. In the instance of our key components we intend to establish a primary,


                                       4
<PAGE>

secondary and tertiary vendor to assure product supply. In the second quarter of
2007, we expect to finalize blending, encapsulating, bottling, and packaging
contracts. We are also negotiating warehousing, logistics, and fulfillment
arrangements on a subcontract basis.

We are currently finalizing negotiations with organizations that have existing
distribution channels into the nutraceutical wholesale / retail stream who sell
product lines that would not be construed as being competitive with our
products. We are also negotiating distribution contracts with a number of direct
sales organizations. We expect to finalize and announce our key strategic
alliances by the end of the second quarter.

We are currently negotiating, on a private placement basis with a domestic
entity, the terms and conditions to secure $700,000 in exchange for restricted
stock before the end of May. Further, we are developing a comprehensive use of
funds plan and terms and conditions for a second private placement with the same
source for an additional $2,000,000 or more by September 2007. Such negotiations
are at preliminary stages, and we have not entered into a definitive agreement
in connection with such funding. There is no assurance that we will obtain such
funding or any other funding.

All of our proposed nutraceutical products would be comprised of components that
are deemed by the Food and Drug Administration to be "GRAS" that is "Generally
Recognized As Safe" and as such can be marketed as a nutritional supplement with
the principal requirement being the listing of ingredients on the label. There
are no other regulations that would place limitations on our products.

Employees

We have 2 full-time employees. We intend to add experienced marketing personnel
with a current following on commission driven arrangements with no out of pocket
obligations to the Company. We do not plan to recruit additional personnel until
we have obtained additional funding.

Item 2.  Properties

We lease office space at 8333 Weston Road, Suite 106, Woodbridge, Ontario
Canada, L4L-8E2. The lease is on a month to month term and the rental payment is
$107 per month payable in Canadian dollars.

Item 3.  Legal Proceedings

None.

Item 4.  Submission of Matters to a Vote of Security Holders

There were no matters submitted to a vote of security holders during the fourth
quarter of the year ended December 31, 2006.

                                       5
<PAGE>
                                     PART II

Item 5.  Market for Registrant's Common Equity and Related Stockholder Matters

Market Information. Our common stock has been quoted through the NASD's
Over-The-Counter Bulletin Board since August 9, 2000. From such date and until
February 15, 2007 it was quoted under the symbol "DSTT.OB," and since such date
it has been quoted under the symbol "MTBR.OB." The following chart sets forth
the high and low sales prices for our common stock during the indicated periods.

FISCAL QUARTER ENDED                LOW             HIGH
--------------------                ---             ----

March 31, 2005                     $0.30           $0.40

June 30, 2005                      $0.30           $0.42

September 30, 2005                 $0.15           $0.30

December 31, 2005                  $0.18           $0.65

March 31, 2006                     $0.35           $0.35

June 30, 2006                      $0.30           $0.50

September 30, 2006                 $0.15           $0.30

December 31, 2006                  $0.15           $0.20

The foregoing prices represent prices between dealers and do not include retail
mark up, mark down, or commission and may not necessarily represent actual
transactions.

Record Holders. As of April 18, 2007, the Common Stock was held of record by
approximately 177 persons and entities, including significant amounts of stock
held in "street name".

Dividends. We have not and do not intend to pay dividends on our capital stock
in the foreseeable future.

Purchase of Our Equity Securities. Neither we nor our any of our affiliates
purchased shares of our common stock during the fiscal quarter ended December
31, 2006.

Sales of Our Unregistered Securities Not Previously Disclosed.  None.

                                       6
<PAGE>

Item 6.  Management's Discussion and Analysis or Plan of Operations

In addition to historical information, the following discussion and analysis of
management contains forward-looking statements. These forward-looking statements
involve risks, uncertainties and assumptions. The actual results may differ
materially from those anticipated in these forward-looking statements as a
result of many factors, including but not limited to, those discussed below.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which reflect management's opinions only as of the date hereof. We
undertake no obligation to revise or publicly release the results of any
revision to these forward-looking statements, except to the extent we are
required to do so under the federal securities law or other applicable law.

General

Until January 12, 2007, we were focused on developing and marketing a database
containing fundamental corporate data on companies quoted on the OTCBB for the
purpose of selling licenses to the database's content to customers in a variety
of formats. However, the Board has recently resolved to change the focus of our
Company's business to the development of business opportunities within the
health care industry. We are now focused on investigating new technologies and
other business opportunities in the life sciences and health care fields. We are
currently reviewing an opportunity to obtain a license to use certain
technologies for the purpose of producing anti-inflammatory and analgesic
products used to treat and cure inflammatory diseases.

Results of Operations

Revenue for the year ended December 31, 2006 was $18,000 compared to $18,834 for
2005. Revenue in each year was derived from the same customer.

Operating expenses for the year ended December 31, 2006 were $30,699 compared to
$25,030 for 2005. Our operating expenses are mainly attributable to transfer
agent fees, office lease and expenses, telephone and internet server. Our
operating expenses may increase with the purchase of new equipment and as we
upgrade our technology. We expect operating losses to continue in the near
future.

General and administrative expenses for the year ended December 31, 2006 were
$30,145 compared to $24,710 for 2005

Net loss for the year ended December 31, 2006 was $12,852 compared to $6,267 for
2005.

Future Outlook

We may consider a business opportunity that may involve a future merger or
acquisition with a private entity having an operating business which may be
providing opportunities, products or services in a different product or service
sector from that of our company, as a potential business combination candidate.
A future merger or acquisition may result in a change in control of our company


                                       7
<PAGE>

and share reorganization and may involve significant changes to our
capitalization or stock ownership.

Liquidity and Capital Resources

As of December 31, 2006, we had no cash in our bank accounts.

Net cash used in operating activities for the year ended December 31, 2006 was
$5,832 compared to $8,848 for 2005.

Net cash used in investing activities for the year ended December 31, 2006 was
$1,045 compared to $841 for 2005.

Net cash provided by financing activities for the year ended December 31, 2006
was $6,877 compared to $9,689 for 2005.

Management believes that cash expected to be generated from operations and
current cash reserves will not be sufficient to meet our capital expenditures
and working capital needs. Our future liquidity and cash requirements will
depend on a wide range of factors, including the level of business in existing
operations, expansion of facilities and possible acquisitions. In particular, if
cash flows from operations are not sufficient, we may have to sell our equity or
debt securities or seek additional financing through other means. We cannot
assure you that such raising of capital or seeking of additional financing will
be available in amounts and on terms acceptable to us.

Going Concern

We have experienced significant losses for the period from inception to December
31, 2006 aggregating $1,064,389. In addition, we have no significant revenue
producing operations.

Our ability to continue as a going concern is contingent upon our ability to
implement our business plan and to attain profitable operations and secure
financing. In addition, our ability to continue as a going concern must be
considered in light of the problems, expenses and complications frequently
encountered by entrance into established markets and the competitive environment
in which we operate.

We are pursuing equity financing for our operations. Failure to secure such
financing or to raise additional capital or borrow additional funds may result
in our depleting available funds and not being able pay our obligations.

One customer accounted for 100% of our revenues during 2006 and 2005.

Income Taxes - The Company follows Statement of Financial Accounting Standards
No. 109 - Accounting for Income Taxes, which requires recognition of deferred
tax assets and liabilities for the expected future tax consequences of events


                                       8
<PAGE>

that have been included in the financial statements or tax returns. Under this
method, deferred tax assets and liabilities are based on the differences between
the financial statement and tax bases of assets and liabilities using enacted
tax rates in effect for the year in which the differences are expected to
reverse.

Use of Estimates - The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.

Fair Value of Financial Instruments - The Company considers its financial
instruments, which are carried at cost, to approximate fair value due to their
near-term maturities.

Accounting Pronouncements

In February 2006, the FASB issued FASB Statement No. 155, which is an amendment
of FASB Statements No. 133 and 140. This Statement; a) permits fair value
re-measurement for any hybrid financial instrument that contains an embedded
derivative that otherwise would require bifurcation, b) clarifies which
interest-only strip and principal-only strip are not subject to the requirements
of Statement 133, c) establishes a requirement to evaluate interests in
securitized financial assets to identify interests that are freestanding
derivatives or that are hybrid financial instruments that contain an embedded
derivative requiring bifurcation, d) clarifies that concentrations of credit
risk in the form of subordination are not embedded derivatives, e) amends
Statement 140 to eliminate the prohibition on a qualifying special-purpose
entity from holding a derivative financial instrument that pertains to a
beneficial interest other than another derivative financial instrument. This
Statement is effective for financial statements for fiscal years beginning after
September 15, 2006. Earlier adoption of this Statement is permitted as of the
beginning of an entity's fiscal year, provided the entity has not yet issued any
financial statements for that fiscal year. Management believes this Statement
will have no impact on the our financial statements once adopted.

In March 2006, the FASB issued FASB Statement No. 156, which amends FASB
Statement No. 140. This Statement establishes, among other things, the
accounting for all separately recognized servicing assets and servicing
liabilities. This Statement amends Statement 140 to require that all separately
recognized servicing assets and servicing liabilities be initially measured at
fair value, if practicable. This Statement permits, but does not require, the
subsequent measurement of separately recognized servicing assets and servicing
liabilities at fair value. An entity that uses derivative instruments to
mitigate the risks inherent in servicing assets and servicing liabilities is
required to account for those derivative instruments at fair value. Under this
Statement, an entity can elect subsequent fair value measurement to account for
its separately recognized servicing assets and servicing liabilities. By


                                       9
<PAGE>

electing that option, an entity may simplify its accounting because this
Statement permits income statement recognition of the potential offsetting
changes in fair value of those servicing assets and servicing liabilities and
derivative instruments in the same accounting period. This Statement is
effective for financial statements for fiscal years beginning after September
15, 2006. Earlier adoption of this Statement is permitted as of the beginning of
an entity's fiscal year, provided the entity has not yet issued any financial
statements for that fiscal year. Management believes this Statement will have no
impact on the our financial statements once adopted.

FASB 157 - Fair Value Measurements

In September 2006, the FASB issued FASB Statement No. 157. This Statement
defines fair value, establishes a framework for measuring fair value in
generally accepted accounting principles (GAAP), and expands disclosures about
fair value measurements. This Statement applies under other accounting
pronouncements that require or permit fair value measurements, the Board having
previously concluded in those accounting pronouncements that fair value is a
relevant measurement attribute. Accordingly, this Statement does not require any
new fair value measurements. However, for some entities, the application of this
Statement will change current practices. This Statement is effective for
financial statements for fiscal years beginning after November 15, 2007. Earlier
application is permitted provided that the reporting entity has not yet issued
financial statements for that fiscal year. Management believes this Statement
will have no impact on our financial statements once adopted.

                                       10
<PAGE>

Item 7.  Financial Statements

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholders and Board of Directors
Metabolic Research, Inc. (A Development Stage Company)

We have audited the accompanying consolidated balance sheet of Metabolic
Research, Inc. (f/k/a Datastand Technologies, Inc.) (A Development Stage
Company) as of December 31, 2006 and the related consolidated statement of
operations and comprehensive income, stockholders' deficit and cash flows for
the year ended December 31, 2006. The period from Inception (April 23, 1999)
through December 31, 2005 were audited by the predecessor accounting firm. These
consolidated financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company has determined that it
is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of the Company as of
December 31, 2006 and the results of their operations and their cash flows for
the year ended December 31, 2006 and the period from Inception (April 23, 1999)
through December 31, 2005 which were audited by the predecessor accounting firm,
in conformity with accounting principles generally accepted in the United States
of America.

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern. The Company has incurred
significant losses as more fully described in Note 1. These issues raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans in regard to these matters are also described in Note 1. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

                                                 /s/Sherb & Co., LLP
                                                    Certified Public Accountants
New York, New York
April 19, 2007

                                       11
<PAGE>
                 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders
Datastand Technologies, Inc.

We have audited the consolidated balance sheet of Datastand Technologies, Inc.
(A Development Stage Company) as of December 31, 2005, and the related
consolidated statements of operations, changes in stockholders' equity and cash
flows for the years ended December 31, 2005 and 2004, and the period from
inception (April 23, 1999) to December 31, 2005. These financial statements are
the responsibility of the Company's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the auditing standards of the Public
Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audits 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. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Datastand
Technologies, Inc. (A Development Stage Company) as of December 31, 2005, and
the results of its operations and its cash flows for the years ended December
31, 2005 and 2004, and the period from inception (April 23, 1999) to December
31, 2005, in conformity with accounting principles generally accepted in the
United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 1, the Company
has been in the development stage since inception. In addition, the Company has
incurred significant losses since inception. Realization of the Company's assets
is dependent upon the Company's ability to meet its future financing
requirements, and the success of future operations. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
The financial statements do not include any adjustments relating to the
recoverability and classification of recorded assets, or the amounts and
classifications of liabilities that might be necessary in the event that the
Company cannot continue in existence.

Stark Winter Schenkein & Co., LLP
Certified Public Accountants

Denver, Colorado
March 31, 2006

                                       12
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                             as of December 31, 2006
<TABLE>
<CAPTION>
<S>                                                                          <C>
                             ASSETS
Current assets:
     Accounts receivable                                                     $     1,500
                                                                             -----------
            Total current assets                                                   1,500
                                                                             -----------

Property and equipment, net                                                        2,010
                                                                             -----------
            Total assets                                                     $     3,510
                                                                             ===========
              LIABILITIES AND STOCKHOLDERS' (DEFICIT)

Current liabilities:
     Bank overdraft                                                          $       615
     Accounts payable and accrued expenses                                         9,750
     Loan payable-officer                                                         17,015
                                                                             -----------
            Total current liabilities                                             27,380
                                                                             -----------
Stockholders' (deficit):
     Preferred stock - $0.001 par value, 20,000,000 shares authorized:
        No shares issued and outstanding                                              --
     Common stock - $0.001 par value, 80,000,000 shares authorized:
        6,138,125 shares issued and outstanding                                    6,138
     Additional paid-in capital                                                1,052,666
     Accumulated (deficit) during the development stage                       (1,064,389)
     Other comprehensive income:
        Currency translation adjustment                                          (18,285)
                                                                             -----------
            Total stockholders' (deficit)                                        (23,870)
                                                                             -----------
                           Total liabilities and stockholders' (deficit)     $     3,510
                                                                             ===========
</TABLE>
              The accompanying notes are an integral part of these
                       consolidated financial statements.

                                       13
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 for the years ended December 31, 2006 and 2005,
    and for the period from Inception (April 23, 1999) to December 31, 2006

<TABLE>
<CAPTION>
                                                                              INCEPTION
                                                                         (APRIL 23, 1999) TO
                                              2006             2005       DECEMBER 31, 2006
                                          -----------      -----------   -------------------
<S>                                       <C>              <C>              <C>
Revenues:
     Net sales                            $    18,000      $    18,834      $   124,529
                                          -----------      -----------      -----------
Costs and Expenses:
     General and administrative                30,145           24,710          933,548
     Stock Based Compensation                      --               --          234,000
     Depreciation and amortization                554              320            5,507
                                          -----------      -----------      -----------
        Total costs and expenses               30,699           25,030        1,173,055
                                          -----------      -----------      -----------

Operating (loss)                              (12,699)          (6,196)      (1,048,526)

Other income (expense):
     Interest expense                            (153)             (71)         (15,863)
                                          -----------      -----------      -----------

(Loss) before income taxes                    (12,852)          (6,267)      (1,064,389)

     Provision for income taxes                    --               --               --
                                          -----------      -----------      -----------

Net (loss)                                    (12,852)          (6,267)      (1,064,389)

Other comprehensive income:
     Currency translation gain (loss)            (239)          (1,996)         (18,285)

                                          -----------      -----------      -----------
Net comprehensive (loss)                  $   (13,091)     $    (8,263)     $(1,082,674)
                                          ===========      ===========      ===========
Net (loss) per common share:
     Basic and Diluted                    $     (0.00)     $     (0.00)     $     (0.18)
                                          ===========      ===========      ===========
Weighted average shares outstanding:
     Basic and Diluted                      6,138,125        6,138,125        6,019,807
                                          ===========      ===========      ===========
</TABLE>
              The accompanying notes are an integral part of these
                       consolidated financial statements.

                                       14

<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A Development Stage Company)
       CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
       For the period from Inception (April 23, 1999) to December 31, 2006

<TABLE>
<CAPTION>
                                          PAR
                                         VALUE                                                                          TOTAL
                          NUMBER OF        OF         ADDITIONAL                               COMPREHENSIVE        STOCKHOLDERS'
                           COMMON        COMMON         PAID-IN             ACCUMULATED           INCOME                EQUITY
                           SHARES        SHARES         CAPITAL              (DEFICIT)             (LOSS)             (DEFICIT)
                         ----------      -------      -----------           -----------        -------------        -------------
<S>                       <C>            <C>          <C>                   <C>                   <C>                 <C>
Shares issued at
  inception
  (April 23, 1999)
  for cash                5,111,880      $   100      $        --           $        --           $      --           $     100

Cash capital
  contributed by
  stockholders                   --           --            2,500                    --                  --               2,500
Non cash capital
  contributed by
  stockholders                   --           --            3,774                    --                  --               3,774
Reclassification of
  paid in capital                --        5,541           (5,541)                                                           --
Acquisition of the
  net assets of MAS
  Acquisition Corp. VII     567,912           39               --                    --                  --                  39
Currency translation
  adjustment                     --           --               --                    --                 (44)                (44)
Net (loss) for
  the period                     --           --               --              (130,932)                 --            (130,932)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 1999       5,679,792        5,680              733              (130,932)                (44)           (124,563)

Cancellation of shares     (153,333)        (153)             153                    --                  --                  --
Capital contribution
  of note payable                --           --           90,300                    --                  --              90,300
Issuance of shares
  in settlement of
  note payable               41,667           42          136,088                    --                  --             136,130
Issuance of shares
  for services                3,333            3            9,997                    --                  --              10,000
Currency translation
  adjustment                     --           --               --                    --              (8,523)             (8,523)
Net (loss) for the year          --           --               --              (221,866)                 --            (221,866)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2000       5,571,459        5,572          237,271              (352,798)             (8,567)           (118,522)

Issuance of shares
  for services              533,333          533          223,467                    --                  --             224,000
Currency translation
  adjustment                     --           --               --                    --              (2,699)             (2,699)
Net (loss) for the year          --           --               --              (412,876)                 --            (412,876)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2001       6,104,792        6,105          460,738              (765,674)            (11,266)           (310,097)

Issuance of shares
  for cash                   33,333           33           10,307                    --                  --              10,340
Currency translation
  adjustment                     --           --               --                    --              (2,455)             (2,455)
Net (loss) for the year          --           --               --              (186,143)                 --            (186,143)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2002       6,138,125        6,138          471,045              (951,817)            (13,721)           (488,355)

Contribution of amounts
  due to officers                --           --          575,621                    --                  --             575,621
Currency translation
  adjustment                     --           --               --                    --              (1,374)             (1,374)
Net (loss) for the year          --           --               --               (83,117)                 --             (83,117)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2003       6,138,125        6,138        1,046,666            (1,034,934)            (15,095)              2,775

Contribution of
  amounts due
  to officers                    --           --            6,000                    --                  --               6,000
Currency translation
  adjustment                     --           --               --                    --                (955)               (955)
Net (loss) for the year          --           --               --               (10,336)                 --             (10,336)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2004       6,138,125        6,138        1,052,666            (1,045,270)            (16,050)             (2,516)

Currency translation
  adjustment                     --           --               --                    --              (1,996)             (1,996)
Net (loss) for the year          --           --               --                (6,267)                 --              (6,267)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2005       6,138,125        6,138        1,052,666            (1,051,537)            (18,046)            (10,779)

Currency translation
  adjustment                     --           --               --                    --                (239)               (239)
Net (loss) for the year          --           --               --               (12,852)                 --             (12,852)
                         ----------      -------      -----------           -----------           ---------           ---------
Balance,
  December 31, 2006       6,138,125      $ 6,138      $ 1,052,666           $(1,064,389)          $ (18,285)          $ (23,870)
                         ==========      =======      ===========           ===========           =========           =========
</TABLE>
              The accompanying notes are an integral part of these
                       consolidated financial statements.

                                       15
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 for the years ended December 31, 2006 and 2005,
    and for the period from Inception (April 23, 1999) to December 31, 2006

<TABLE>
<CAPTION>
                                                                                           INCEPTION
                                                                                      (APRIL 23, 1999) TO
                                                                2006         2005      DECEMBER 31, 2006
                                                              --------      -------   -------------------
<S>                                                           <C>           <C>          <C>
 Cash flows from operating activities:
      Net (loss)                                              $(12,852)     $(6,267)     $(1,064,389)
                                                              --------      -------      -----------
      Adjustments to reconcile net (loss) to net cash
         used by operating activities:
         Depreciation and amortization                             554          320            5,468
         Operating expenses contributed to capital                  --           --            1,197
         Consulting fees paid with long term note payable           --           --           90,300
         Common stock issued for services                           --           --          234,000
         Interest expense  paid with common stock                   --           --           11,130
         Officer salaries contributed to capital                    --           --           94,500
         Currency translation adjustment                          (239)      (1,996)         (18,285)
      Changes in operating assets and liabilities:
         Increase in accounts receivable                            --       (1,500)          (1,500)
         Increase in accrued expenses -officers                     --           --          478,342
         Increase (decrease) in accounts payable and
                accrued expenses                                 6,705          595            9,750
                                                              --------      -------      -----------
      Total adjustments                                          7,020       (2,581)         904,902
                                                              --------      -------      -----------

        Net cash (used in) operating activities                 (5,832)      (8,848)        (159,487)
                                                              --------      -------      -----------
Cash flows from investing activities:
        Acquisition of property and equipment                   (1,045)        (841)          (4,862)
                                                              --------      -------      -----------
        Net cash (used in) investing activities                 (1,045)        (841)          (4,862)
                                                              --------      -------      -----------
Cash flows from financing activities:
        Proceeds from loans payable                                 --           --          130,000
        Bank overdraft                                            (358)         (91)             615
        Repayment of loans payable                                  --           --           (5,000)
        Proceeds from loans payable-officers                    10,000        9,780           30,492
        Repayment of loans payable-officers                     (2,765)          --           (6,198)
        Capital contributions                                       --           --            4,000
        Common stock issued for cash                                --           --           10,440
                                                              --------      -------      -----------
        Net cash provided by financing activities                6,877        9,689          164,349
                                                              --------      -------      -----------

Net increase in cash and equivalents                                --           --               --

Cash and equivalents at beginning of period                         --           --               --

                                                              --------      -------      -----------
Cash and equivalents at end of period                         $     --      $    --      $        --
                                                              ========      =======      ===========
Supplemental Cash Flow Information
     Cash paid for interest                                   $    153      $    71      $       244
     Cash paid for income taxes                               $     --      $    --      $        --

Non-cash investing and financing activities:
     Furniture and equipment contributed to capital           $     --      $    --      $     2,616
     Contribution of note payable to paid in capital          $     --      $    --      $    90,300
     Contribution of accrued expenses to capital              $     --      $    --      $   575,621
     Settlement of note payable and accrued interest with
          common stock                                        $     --      $    --      $   136,130
</TABLE>
              The accompanying notes are an integral part of these
                       consolidated financial statements.

                                       16
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

NOTE 1.  NATURE OF BUSINESS AND BASIS OF PRESENTATION

Organization

The Company was incorporated under the laws of the State of Nevada on April 23,
1999 as Dimgroup Inc. and is in the development stage. During 2001, the Company
changed its name to Datastand Technologies, Inc.

Until January 12, 2007, we were focused on developing and marketing a database
containing fundamental corporate data on companies quoted on the OTCBB for the
purpose of selling licenses to the database's content to customers in a variety
of formats. However, the Board has recently resolved to change the focus of our
Company's business to the development of business opportunities within the
health care industry. We are now focused on investigating new technologies and
other business opportunities in the life sciences and health care fields.

During August 1999, the Company completed a reorganization with MAS Acquisition
Corp. VII (MAS) an Indiana corporation, whose assets consisted of intangibles of
$39. In conjunction therewith, MAS issued 5,111,880 shares of its restricted
common stock for all of the issued and outstanding common shares of the Company.
This reorganization will be accounted for as though it were a recapitalization
of the Company and issuance by the Company of 567,912 shares of common stock in
exchange for the net assets of MAS.

On February 1, 2007, we changed our corporate name to Metabolic Research, Inc.

Basis of Presentation

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern which contemplates the
recoverability of assets and the satisfaction of liabilities in the normal
course of business. As noted above, the Company is in the development stage and,
accordingly, has yet not generated substantial revenues from operations. Since
its inception, the Company has been substantially engaged in bringing its
product and services to a state of technical feasibility and commercial
viability, incurring substantial costs and expenses. As a result, the Company
incurred net losses through December 31, 2006 aggregating $1,064,389. The
Company's development activities since inception have been financially sustained
by a combination of contributions from the founders and debt. The ability of the
Company to continue as a going concern is dependent upon its ability to raise
additional capital from the sale of common stock and, ultimately, the
achievement of significant operating revenues. The accompanying financial
statements do not include any adjustments that might be required should the
Company be unable to recover the value of its assets or satisfy its liabilities.

NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make


                                       17
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

estimates and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from those
estimates.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and
its wholly owned subsidiary. All significant intercompany accounts and
transactions have been eliminated.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of
three months or less to be cash equivalents.

Revenue Recognition

In general, the Company records revenue when persuasive evidence of an
arrangement exists, services have been rendered or product delivery has
occurred, the sales price to the customer is fixed or determinable, and
collectability is reasonably assured.

For the year ended December 31, 2006, one customer represented all of the
Company's revenues. The Company's accounts receivable are due from a customer
located in the United States, which accounted for 100% of its accounts
receivable at December 31, 2006. The entire balance was collected in January
2007, therefore an allowance was not necessary.

Property and Equipment

Property and equipment are depreciated or amortized using the straight-line
method over the following estimated useful lives:

         Furniture and office equipment   5 years

Advertising Costs

The Company expenses all costs of advertising as incurred. No advertising costs
were incurred during the periods presented.

Web Development Costs

The web site will comprise multiple features and offerings that are currently
under development, and it is anticipated that the offerings will require future
development and refinement. In connection with the development of its products,
the Company will incur external costs for hardware, software, and consulting
services, and internal costs for payroll and related expenses of its technology
employees directly involved in the development. All hardware costs will be
capitalized. Purchased software costs will be capitalized in accordance with
Statement of Position 98-1 Accounting for the Costs of Computer Software
Developed or Obtained for Internal Use. All other costs will be reviewed for
determination of whether capitalization or expense as product development cost
is appropriate.

                                       18
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

Fair Value of Financial Instruments

Fair value estimates discussed herein are based upon certain market assumptions
and pertinent information available to management as of December 31, 2006. The
respective carrying value of certain on-balance-sheet financial instruments
approximated their fair values. These financial instruments include cash (bank
overdraft) and accounts payable and accrued expenses. Fair values were assumed
to approximate carrying values for these financial instruments because they are
short term in nature and their carrying amounts approximate fair values or they
are receivable or payable on demand.

Impairment of Long Lived Assets

Long lived assets and certain identifiable intangibles held and used by the
Company are reviewed for possible impairment whenever events or circumstances
indicate the carrying amount of an asset may not be recoverable or is impaired.

Comprehensive Income

The Company follows Statement of Financial Accounting Standards ("SFAS") 130,
"Reporting Comprehensive Income". SFAS 130 establishes standards for reporting
and display of comprehensive income and its components in the financial
statements.

Segment Reporting

The Company follows SFAS 131, "Disclosures About Segments of an Enterprise and
Related Information." The Company operates as a single segment and will evaluate
additional segment disclosure requirements as it expands its operations.

Foreign Currency Translation

The local currency (Canadian Dollar) is the functional currency for the
Company's operations. Assets and liabilities are translated using the exchange
rate in effect at the balance sheet date. Income and expenses are translated at
the average exchange rate for the year. Translation adjustments are reported as
a separate component of stockholders' equity.

Income Taxes

The Company follows SFAS 109, "Accounting for Income Taxes" for recording the
provision for income taxes. Deferred tax assets and liabilities are computed
based upon the difference between the financial statement and income tax basis
of assets and liabilities using the enacted marginal tax rate applicable when
the related asset or liability is expected to be realized or settled. Deferred
income tax expenses or benefits are based on the changes in the asset or
liability each period. If available evidence suggests that it is more likely
than not that some portion or all of the deferred tax assets will not be
realized, a valuation allowance is required to reduce the deferred tax assets to
the amount that is more likely than not to be realized. Future changes in such
valuation allowance are included in the provision for deferred income taxes in
the period of change.

                                       19
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

Net (Loss) Per Common Share

The Company calculates net income (loss) per share as required by SFAS 128,
"Earnings per Share." Basic earnings (loss) per share is calculated by dividing
net income (loss) by the weighted average number of common shares outstanding
for the period. Diluted earnings (loss) per share is calculated by dividing net
income (loss) by the weighted average number of common shares and dilutive
common stock equivalents outstanding. During the periods presented common stock
equivalents were not considered as their effect would be anti dilutive.

Recent Pronouncements

The FASB has issued FSP EITF 00-19-2. This FSP states that the contingent
obligation to make future payments or other transfers of consideration under a
registration payment arrangement, issued as a separate agreement or included as
a part of a financial instrument or other agreement, should be separately
recognized and measured in accordance with SFAS 5. Also, a financial instrument
subject to a registration payment arrangement should be accounted for in
accordance with other applicable GAAP without regard to the contingent
obligation to transfer consideration pursuant to the registration payment
arrangement. This FSP was adopted on October 1, 2006.

In September 2006, the FASB issued Statement No. 157, "Fair Value Measurements"
(SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring
fair value in generally accepted accounting principles, and expands disclosures
about fair value measurements. The provisions of SFAS 157 are effective for the
Company's fiscal year beginning January 1, 2008. We are currently determining
the effect of this statement on our financial reporting

In June 2006, the FASB issued Interpretation No. 48, "Accounting for Uncertainty
in Income Taxes" (FIN 48). This interpretation prescribes a recognition
threshold and measurement attribute for the financial statement recognition and
measurement of a tax position taken or expected to be taken in a tax return. FIN
48 requires that the Company recognize in its financial statements the impact of
a tax position if that position is more likely than not of being sustained upon
examination based on the technical merits of the position. This interpretation
also includes guidance on derecognition, classification, interest and penalties,
accounting in interim periods, disclosure, and transition. The provisions of FIN
48 are effective January 1, 2007 with the cumulative effect reported as an
adjustment to the opening balance of retained earnings for the fiscal year. We
are currently determining the effect of this interpretation on our financial
reporting.

NOTE 3.  PROPERTY AND EQUIPMENT

Property and equipment consists of the following:

         Furniture and office equipment                    $7,478
         Less: accumulated depreciation                     5,468
                                                           ------
                                                           $2,010
                                                           ======

Depreciation expense was $554, $320 and $5,468 for the years ended December 31,
2006 and 2005 and the period from inception to December 31, 2006.

                                       20
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

NOTE 4.  LOAN PAYABLE - OFFICER

The balance represents short-term advances to the Company. The advances are
non-interest bearing and are due on demand.

NOTE 5.  STOCKHOLDERS' (DEFICIT)

During November 2004 the Company effected a one for three reverse stock split
and during February 2000 the Company affected a two for one forward stock split.
All share and per share amounts have been restated to give effect to these
splits.

At inception the Company issued 5,111,880 shares of its $.001 par value stock to
officers and directors for cash aggregating $100.

The shareholders of the Company contributed the following to the capital of the
Company during the year ended December 31, 1999.

         Furniture and office equipment                    $2,616
         Payment of operating expenses                      1,158
         Cash                                               2,500
                                                           ------
                                                           $6,274
                                                           ======

During the year ended December 31, 2000, the Company issued 3,333 shares of
common stock in exchange for services valued at $10,000 which management
believes is the fair value of the services provided.

During April 2000, 153,333 of the shares of common stock issued pursuant to the
recapitalization described in Note 1 were returned to the Company and cancelled.

During December 2001, the Company issued 533,333 shares of common stock for
services pursuant to a Form S-8. These shares were valued at their fair market
value on the date of issuance of $224,000.

During May 2002, the Company issued 33,333 shares of common stock for cash
aggregating $10,340 pursuant to a private placement.

During December 2003, officers of the Company contributed an aggregate of
$575,621 in unpaid salaries and other amounts due to them to the capital of the
Company.

During 2004, certain officers contributed an aggregate of $4,500 in services and
$1,500 in cash to the capital of the Company.

NOTE 6.  INCOME TAXES

Deferred income taxes may arise from temporary differences resulting from income
and expense items reported for financial accounting and tax purposes in
different periods. Deferred taxes are classified as current or non-current,


                                       21
<PAGE>
                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

depending on the classification of assets and liabilities to which they relate.
Deferred taxes arising from temporary differences that are not related to an
asset or liability are classified as current or non-current depending on the
periods in which the temporary differences are expected to reverse.

The Company currently has net operating loss carryforwards aggregating
approximately $250,000, which expire at various dates through 2026. The deferred
tax asset of approximately $85,000 related to this carryforward has been fully
reserved. The difference between the net operating loss and the accumulated
deficit of approximately $814,000 relates to accrued salaries due to officers,
which was contributed to the Company's capital and stock compensation costs that
are not deductible for tax purposes

The provision for income taxes differs from the amount computed by applying the
statutory federal income tax rate to income before provision for income taxes.
The sources and tax effects of the differences for the periods presented are as
follows:

         Income tax provision at
          the federal statutory rate                        34%
         Effect of operating losses                        (34)%
                                                           ---
                                                            --%
                                                           ===

NOTE 7.  SUBSEQUENT EVENTS

On January 12, 2007, we entered into a License Agreement with Dr. David P.
Summers and T.W. Owen, the inventors and owners of certain technologies covered
by the following provisional patent applications filed with the United States
Patent and Trademark Office: (i) "Composition and Method of Producing Endogenous
Therapeutic Anti-Inflammatory Eiconasids and their Metabolites by Exogenous or
Oral Means," by David P. Summers and T.W. Owen, (USPTO Serial Number
60/570,649); and (ii) "Method and Process for Producing Anti-inflammatory
Products from Fungi," by David P. Summers and T.W. Owen. This license agreement
grants us an exclusive, irrevocable, perpetual license in North America and
Mexico to develop products based on the technologies described in the patent
application. We intend to use the licensed technologies for the purpose of
developing anti-inflammatory and analgesic products for the treatment of
arthritis and other inflammatory diseases. In consideration for the license, we
issued one million shares of our common stock to Dr. Summers and one million
shares of our common stock to Mr. Owen. We may terminate the license agreement
for any reason or no reason, upon at least ninety days prior written notice. In
the event either party commits a breach of its obligations under the license
agreement and fails to cure that breach within sixty days after receiving
written notice thereof, the other party may terminate the agreement immediately
upon written notice to the other party.

On March 14, 2007, we entered into a second license with David P. Summers and
T.W. Owen to exploit the technology described above in certain European markets.
The terms of such license are identical to those of the first license agreement
we entered into with such persons on January, 12, 2007, except for the
territory. In consideration for the license, we issued an additional one million
shares of our common stock to Dr. Summers and an additional one million shares
of our common stock to Mr. Owen. We may terminate the license agreement for any
reason or no reason, upon at least ninety days prior written notice. In the
event either party commits a breach of its obligations under the license
agreement and fails to cure that breach within sixty days after receiving


                                       22
<PAGE>

                            METABOLIC RESEARCH, INC.
                      (f/k/a DATASTAND TECHNOLOGIES, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2006

written notice thereof, the other party may terminate the agreement immediately
upon written notice to the other party.

On February 23, 2007, we entered into a Strategic Alliance Agreement with
Partners In Science Holdings, Inc. under which each of the parties will fully
cooperate with the other in inserting the other party's products into its
marketing and distribution channels. Each party also agreed to extend to the
other party its usual factory discount allowances for sales, including such
rights and residuals as customary.
 The term of the agreement is for a period of three years, commencing on
February 23, 2007.

On February 26, 2007, we entered into an employment agreement with David P.
Summers, under which Mr. Summers will serve as our Chief Operating Officer. Mr.
Summers will not receive any compensation for his services. The agreement, which
does not have a definite term, may be terminated by Dr. Summers or us for any
reason or no reason upon 14 days prior written notice to the other party.

On February 26, 2007, we entered into an employment agreement with David Brown,
under which Mr. Brown will serve as our Chief Financial Officer. Mr. Brown
received 100,000 shares of our common stock as full compensation for his
services rendered under the agreement. The term of the agreement, which is for a
two year period commencing on February 26, 2007, may be terminated by either Mr.
Brown or us for any reason or no reason upon 14 days prior written notice to the
other party.

In March 2007 we raised $264,400 through private placements in which we issued
625,300 restricted shares.

                                       23
<PAGE>

Item 8.  Changes in and Disagreements With Accountants on Accounting and
         Financial Disclosure

On November 1, 2006, we dismissed Stark Winter Schenkein & Co., LLP as our
independent accountant. Our decision to change independent accountants was
approved by our Board of Directors.

During the audits of our two most recent fiscal years ended December 31, 2005
and through the date of dismissal, we had no disagreements with Stark Winter
Schenkein & Co., LLP on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Stark Winter Schenkein &
Co., LLP, would have caused it to make reference to the subject matter of such
disagreements in its report on our financial statements for such period.

During our two most recent fiscal years and through the date of dismissal, we
did not have any reportable events under Item 304(a)(1)(iv) of Regulation S-B.

The audit reports of Stark Winter Schenkein and Co., LLP on our financial
statements of as of and for each of the fiscal years ended December 31, 2005 and
2004 did not contain any adverse opinion or a disclaimer of opinion, nor were

                                       24
<PAGE>

they qualified or modified as to uncertainty, audit scope or accounting
principles, except for an explanatory paragraph regarding our ability to
continue as a going concern.

We engaged Sherb & Co., LLP as our new independent registered accountant as of
November 1, 2006. During our two most recent fiscal years and through the date
of their engagement, we did not consult with Sherb & Co., LLP regarding the
issues of the type described in Item 304(a)(2) of Regulation S-B.

Item 8A. Controls and Procedures

We maintain a system of controls and procedures designed to provide reasonable
assurance as to the reliability of the financial statements and other
disclosures included in this report as well as to safeguard assets from
unauthorized use or disposition. However, no cost effective internal control
system will preclude all errors and irregularities, and management is
necessarily required to apply its judgment in evaluating the cost-benefit
relationship of possible controls and procedures.

As of December 31, 2006, an evaluation was performed under the supervision and
with the participation of our management, including the CEO and CFO of the
effectiveness of the design and operation of our disclosure controls and
procedures. Based on that evaluation, our management, including the CEO and CFO,
concluded that our disclosure controls and procedures were effective as of
December 31, 2006. There has not been any change in our internal controls during
our last fiscal quarter that has materially affected or is reasonably likely to
materially affect internal controls over financial reporting as of December 31,
2006.

                                    PART III

Item 9.  Directors and Executive Officers of the Registrant

Our executive officers and directors are:

NAME                    AGE               POSITION(S)
----                    ---               -----------

Nick Montesano          36    Chairman of the Board, CEO, and Director
David P. Summers        69    Chief Operating Officer.
David Brown             55    Chief Financial Officer

Nick Montesano is one of our founders and has been our Chief Executive Officer
and Director since December 11, 2003. He also served as our Chief Financial
Officer until February 26, 2007. From April 1999 to December 11, 2003, Mr.
Montesano served as our Chief Operating Officer and Director. He is responsible
for our business strategy and development. Mr. Montesano was co-founder and
director of CMN Consultants, an advocacy firm formed to resolve workplace
accident disputes from 1993 to 1999. At CMN, he was responsible for business
development including sales and marketing.

                                       25
<PAGE>

David P. Summers, PhD, D.Sci (Med), FACA, has been our Chief Operating Officer
since February 27, 2007. From 2005 until current he was Director and CEO of
Partners In Science Holdings, Inc., a Las Vegas, Nevada biomedical company
producing nutraceutical nutritional supplements. From 2004 until 2005 he was
Founder, Director and CEO of Partners In Science, Inc., a Las Vegas, Nevada
predecessor Partners In Science Holdings, Inc., From 1996 to 2004, he was
Founder, Chairman of the Board, and CEO of Endovasc, Inc., a Montgomery, Texas
biomedical company that went public in August 1997. Endovasc commercialized drug
delivery catheters, vascular stents, new stent coatings and resorbable stents
using prostaglandin E-1.

David Brown has been our Chief Financial Officer since February 27, 2007. Mr.
Brown has 32 years of experience in financial and banking administration, due
diligence, business merger and acquisition analysis, and equipment and
collateral appraisals. Since 2001, he has been an auditor for the Texas
Guaranteed Student Loan Corporation, where his duties include auditing, business
practice and financial analysis, data gathering, writing, and serving as lead
auditor for designated audits. From October, 2000 until October, 2001 he served
as the senior business financial consultant of the Public Group, Inc. From June
1999 until October 2000, he served as the executive financial and banking
recruiter of Watkins & Associates, Inc. Mr. Brown received a BBA in Finance from
the University of Houston, Houston, Texas in 1980.

All of our directors hold office until the next annual meeting of the
stockholders or until their successors are elected and qualified. Our officers
are appointed by our board of directors and hold office until their earlier
death, retirement, resignation or removal.

Our Board of Directors has not established an audit committee and does not have
an audit committee financial expert.

Section 16(a) Beneficial Ownership Reporting Compliance. Section 16(a) of the
Securities Exchange Act of 1934 requires our officers and directors and persons
who own more than ten percent of our common stock to file reports of ownership
and changes in their ownership with the Securities and Exchange Commission, and
forward copies of such filings to us. We believe, based solely on our review of
the copies of such forms and other written representations to us, that during
the fiscal year ended December 31, 2006, all reporting persons complied with all
applicable Section 16(a) filing requirements.

We have not adopted a Code of Ethics.

Item 10. Executive Compensation

Summary Compensation

None of our executive officers received any compensation during the fiscal years
ended December 31, 2006 and 2005.

                                       26
<PAGE>

On February 26, 2007, we entered into an employment agreement with David P.
Summers, under which Mr. Summers will serve as our Chief Operating Officer. Mr.
Summers will not receive any compensation for his services. The agreement, which
does not have a definite term, may be terminated by Dr. Summers or us for any
reason or no reason upon 14 days prior written notice to the other party.

On February 26, 2007, we entered into an employment agreement with David Brown,
under which Mr. Brown will serve as our Chief Financial Officer. Mr. Brown
received 100,000 shares of our common stock as full compensation for his
services rendered under the agreement. The term of the agreement, which is for a
two year period commencing on February 26, 2007, may be terminated by either Mr.
Brown or us for any reason or no reason upon 14 days prior written notice to the
other party.

Outstanding Equity Awards

As of December 31, 2006, none of our directors or executive officers held
unexercised options, stock that had not vested, or equity incentive plan awards.

Compensation of Directors

None of our directors received any compensation during the fiscal years ended
December 31, 2006 and 2005.

Item 11. Security Ownership of Certain Beneficial Owners and Management

The following table lists, as of April 18, 2007, the number of shares of our
common stock beneficially owned by (i) each person or entity known to us to be
the beneficial owner of more than 5% of the outstanding common stock; (ii) each
of our officers and directors; and (iii) all of our officers and directors as a
group. Information relating to beneficial ownership of common stock by our
principal stockholders and management is based upon information furnished by
each person using "beneficial ownership" concepts under the rules of the
Securities and Exchange Commission. Under these rules, a person is deemed to be
a beneficial owner of a security if that person has or shares voting power,
which includes the power to vote or direct the voting of the security, or
investment power, which includes the power to vote or direct the voting of the
security. The person is also deemed to be a beneficial owner of any security of
which that person has a right to acquire beneficial ownership within 60 days.
Under the Securities and Exchange Commission rules, more than one person may be
deemed to be a beneficial owner of the same securities, and a person may be
deemed to be a beneficial owner of securities as to which he or she may not have
any pecuniary beneficial interest. Except as noted below, each person has sole
voting and investment power.

                                       27

As of April 18, 2007, we had outstanding 10,238,126 shares of our common stock.

NAME AND ADDRESS                 AMOUNT AND NATURE OF                PERCENT
OF BENEFICIAL OWNER              BENEFICIAL OWNERSHIP               OF CLASS
-------------------              --------------------               --------

OWNERS OF MORE THAN 5%

David P. Summers                        2,000,000                     19.5%
3158 Canterbury Ln.
Montgomery, TX 77354

T.W. Owen                               2,000,000                     19.5%
10635 Lessona St .
Las Vegas , NV 89141

DIRECTORS AND EXECUTIVE OFFICERS:

Nick Montesano                            192,676                      1.9%
8333 Weston Road, Suite 106,
Woodbridge, Ontario L4L 8E2

David Brown                                     0                        0%
8333 Weston Road, Suite 106,
Woodbridge, Ontario L4L 8E2

All directors and
  executive officers as
  a group (3 persons)                   2,192,676                     21.4%

----------
* Less than one percent

Item 12. Certain Relationships and Related Transactions; Director Independence

Certain Relationships and Related Transactions

On February 26, 2007, we entered into an employment agreement with David P.
Summers, under which Mr. Summers will serve as our Chief Operating Officer. Mr.
Summers will not receive any compensation for his services. The agreement, which
does not have a definite term, may be terminated by Dr. Summers or us for any
reason or no reason upon 14 days prior written notice to the other party.

On February 26, 2007, we entered into an employment agreement with David Brown,
under which Mr. Brown will serve as our Chief Financial Officer. Mr. Brown
received 100,000 shares of our common stock as full compensation for his
services rendered under the agreement. The term of the agreement, which is for a
two year period commencing on February 26, 2007, may be terminated by either Mr.
Brown or us for any reason or no reason upon 14 days prior written notice to the
other party.

                                       28
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Director Independence

None of our directors is "independent", as that term is defined by the rules of
any national securities exchange or NASDAQ.

Item 13: Exhibits

         3.1      Articles of Incorporation, incorporated herein by reference
                  from the Registrant's Registration Statement on Form 10-SB/A
                  filed on August 3, 1999.

         3.2      Articles of Merger, incorporated herein by reference to our
                  Current Report on Form 8-K/A filed on November 8, 1999

         3.3      Amendment to Articles of Incorporation, incorporated herein by
                  reference from the Registrant's Current Report on Form 8-K,
                  filed with Securities and Exchange Commission on April 5,
                  2001.

         3.4      Amendment to Articles of Incorporation, incorporated herein by
                  reference from the Registrant's Current Report on Form 8-K,
                  filed with Securities and Exchange Commission on February 2,
                  2007.

         3.5      By-Laws, incorporated herein by reference from the
                  Registrant's Registration Statement on Form 10-SB/A filed on
                  August 3, 1999.

         10.1     License Agreement, dated January 12, 2007, among the
                  Registrant, Dr. David P. Summers and T.W. Owen, incorporated
                  by reference herein from the Registrant's Current Report on
                  Form 8-K, filed with Securities and Exchange Commission on
                  January 16, 2007.

         10.2     Strategic Alliance Agreement, dated February 23, 2007, between
                  the Registrant and Partners In Science Holdings, Inc.,
                  incorporated herein by reference from the Registrant's Current
                  Report on Form 8-K, filed with Securities and Exchange
                  Commission on February 23, 2007.

         10.3     License Agreement, dated March 9, 2007, among the Registrant,
                  Dr. David P. Summers and T.W. Owen , incorporated by reference
                  herein from the Registrant's Current Report on Form 8-K, filed
                  with Securities and Exchange Commission on March 15, 2007.

         10.4     Employment Agreement, dated February 26, 2007, between the
                  Registrant and David P. Summers, incorporated by reference
                  herein from the Registrant's Current Report on Form 8-K, filed
                  with Securities and Exchange Commission on March 15, 2007.

                                       29
<PAGE>

         10.5     Employment Agreement, dated February 26, 2007, between the
                  Registrant and David Brown , incorporated by reference herein
                  from the Registrant's Current Report on Form 8-K, filed with
                  Securities and Exchange Commission on March 15, 2007.

         31.1     Certification of Principal Executive and Principal Financial
                  Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) under
                  the Securities Exchange Act.

         32.1     Certification of Principal Executive and Principal Financial
                  Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002
                  (18 USC 1350).

Item 14. Principal Accountant Fees and Services

Our board of directors reviews and approves audit and permissible non-audit
services performed by our independent accountants, as well as the fees charged
for such services.

In its review of non-audit service fees and its appointment of Sherb & Co., LLP
Co., as our independent accountants, the board of directors considered whether
the provision of such services is compatible with maintaining independence. All
of the services provided and fees charged by Sherb & Co., LLP in 2006 were
approved by the board of directors.

Audit Fees

The aggregate fees billed by for professional services for the audit of our
annual financial statements and the reviews of the financial statements included
in our quarterly reports on Form 10-QSB for 2006 and 2005 were $16,000 and
$9,000, respectively, net of expenses.

Audit-Related Fees

There were no other fees billed by Sherb & Co., LLP or Stark Winter Schenkein &
Co., LLP during the last two fiscal years for assurance and related services
that were reasonably related to the performance of the audit or review of our
financial statements and not reported under "Audit Fees" above.

Tax Fees

There were no fees billed during the last two fiscal years for professional
services rendered for tax compliance.

All Other Fees

There were no other fees billed by Sherb & Co., LLP or Stark Winter Schenkein &
Co., LLP during the last two fiscal years for products and services provided.

                                       30
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<PAGE>
                                   SIGNATURES

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

                                      Metabolic Research, Inc

Date: April 20, 2007                  By: /s/ Nick Montesano
                                         ---------------------------
                                         Nick Montesano
                                         Chief Executive Officer and
                                         Director
                                         (principal executive officer)

                                      By: /s/ Dr. David P. Summers
                                         ---------------------------
                                         Dr. David P. Summers
                                         Chief Operating Officer

                                      By: /s/ David Brown
                                         ---------------------------
                                         David Brown
                                         Chief Financial Officer
                                         (principal financial officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report
has been signed below by the following persons in the capacities and on the
dates indicated.

    SIGNATURE                     TITLE                              DATE
    ---------                     -----                              ----


/s/ Nick Montesano       Chairman of the Board,                 April 20, 2007
------------------       Chief Executive Officer and
Nick Montesano           Director



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