**UNITED      STATES **

**SECURITIES      AND EXCHANGE COMMISSION**
** **

**Washington,      D.C. 20549**

**FORM      10-Q/A**

**(Amendment      No. 1)**

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

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

*   *
**000-52691**

**MODIGENE      INC. **

| **Nevada**                                                                                       | **20-0854033**                                     |
|--------------------------------------------------------------------------------------------------|----------------------------------------------------|
| (State                or other jurisdictionof incorporation                or organization) | (I.R.S.                Employer IdentificationNo.) |
|                                                                                             |                                               |
| **3                Sapir Street, Weizmann****Science                Park**                       |                                               |
| **Nes-Ziona,                Israel**                                                             | **74140**                                          |
| (Address                of principal executiveoffices)                                           | (Zip                Code)                          |

**(866)      644-7811**

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

*** ***

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**EXPLANATORY      NOTE**

*** ***

**NOTE      REGARDING FORWARD-LOOKING STATEMENTS**

*Our      disclosure and analysis in this Quarterly Report on Form 10-Q/A*
*contains      forward-looking statements within the meaning of Section 27A of the      Securities Act of 1933 and Section 21E of the Securities Exchange Act of      1934. You can identify such forward-looking statements by the words “expects,”“intends,” “plans,” “projects,” “believes,” “estimates,” “likely,” “goal,”“assumes,” “targets” and similar expressions and/or the use of future tense or      conditional constructions (such as “will,” “may,” “could,” “should” and the      like). In the normal course of business, Modigene Inc. (“Modigene” or the“Company”), in an effort to help keep its stockholders and the public informed      about the Company may, from time to time, issue such forward-looking statements,      either orally or in writing. Generally, these statements relate to business      plans strategies or opportunities, and/or projected or anticipated benefits      or      other consequences of such plans, strategies, or opportunities, including      anticipated revenues or earnings. Modigene bases the forward-looking statements      on its current expectations, estimates and projections. Modigene cautions you      that these statements are not guarantees of future performance and involve      risks, uncertainties and assumptions that Modigene cannot predict. In addition,      Modigene has based many of these forward-looking statements on assumptions      about      future events that may prove to be inaccurate. Therefore, the actual results      of      future events described in such forward-looking statements in this Management’s      Discussion and Analysis, or elsewhere, could differ materially from those stated      in such forward-looking statements. *

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**PART      I – FINANCIAL INFORMATION**

**ITEM      1.**
**Financial      Statements.**

**CONSOLIDATED      BALANCE SHEETS**

|                                                                                                                                                                                                                                                                                         |   | March 31, |        | December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|-------------|-------------------|--------|
|                                                                                                                                                                                                                                                                                         |   | 2008           |        | 2007              |   |
|                                                                                                                                                                                                                                                                                         |   | (Unaudited)    |        | (Restated)        |   |
| **ASSETS**                                                                                                                                                                                                                                                                              |   |           |        |              |   |   |   |
| **Current                  Assets:**                                                                                                                                                                                                                                                         |   |           |        |              |   |   |   |
| Cash                  and cash equivalents                                                                                                                                                                                                                                                   |   | $              | 12,830,017  |              | $      | 11,455,807 |   |
| Accounts                  receivable and prepaid expenses                                                                                                                                                                                                                                    |   |           | 108,897     |              |   | 506,144 |   |
| Restricted                  cash                                                                                                                                                                                                                                                             |   |           | 93,618      |              |   | 61,838 |   |
| **Total                  current assets**                                                                                                                                                                                                                                                    |   |           | 13,032,532  |              |   | 12,023,789 |   |
| **Property                  and equipment, net**                                                                                                                                                                                                                                             |   |           | 232,871     |              |   | 175,428 |   |
| **Long-term                  Assets:**                                                                                                                                                                                                                                                       |   |           |        |              |   |   |   |
| Severance                  pay fund                                                                                                                                                                                                                                                          |   |           | 58,695      |              |   | 33,685 |   |
| Long                  term deposit                                                                                                                                                                                                                                                           |   |           | 2,951       |              |   | 2,951 |   |
| **Total                  long term assets**                                                                                                                                                                                                                                                  |   |           | 61,646      |              |   | 36,636 |   |
| **Total                  assets**                                                                                                                                                                                                                                                            |   | $              | 13,327,049  |              | $      | 12,235,853 |   |
|                                                                                                                                                                                                                                                                                         |   |           |        |              |   |   |   |
| **LIABILITIES                  AND SHAREHOLDERS' EQUITY**                                                                                                                                                                                                                                    |   |           |        |              |   |   |   |
| **Current                  Liabilities:**                                                                                                                                                                                                                                                    |   |           |        |              |   |   |   |
| Short-term                  bank credit                                                                                                                                                                                                                                                      |   | $              | -           |              | $      | 1,886 |   |
| Trade                  payables                                                                                                                                                                                                                                                              |   |           | 83,981      |              |   | 142,462 |   |
| Related                  party payables                                                                                                                                                                                                                                                      |   |           | 25,938      |              |   | 19,365 |   |
| Accrued                  expenses and other liabilities                                                                                                                                                                                                                                      |   |           | 168,173     |              |   | 167,218 |   |
| **Total                  current liabilities**                                                                                                                                                                                                                                               |   |           | 278,092     |              |   | 330,931 |   |
| **Accrued                  severance pay**                                                                                                                                                                                                                                                   |   |           | 65,293      |              |   | 42,552 |   |
| **Commitments                  and contingent liabilities**                                                                                                                                                                                                                                  |   |           |        |              |   |   |   |
| **Shareholders'                  equity:**                                                                                                                                                                                                                                                   |   |           |        |              |   |   |   |
| Stock                  capital -                                                                                                                                                                                                                                                             |   |           |        |              |   |   |   |
| Preferred                  stock of $ 0.00001 par value –10,000,000                  shares of preferred stock authorized, 800,000 issued and                  outstanding                                                                                                             |   |           | 8           |              |   | - |   |
| Common                  stock of $ 0.00001 par value –300,000,000                  shares of common stock authorized35,549,028                  and 35,435,266 shares issued and outstanding as of March 31, 2008                  and                  December 31,2007, respectively |   |           | 355         |              |   | 354 |   |
| Additional                  paid-in capital *                                                                                                                                                                                                                                                |   |           | 26,604,103  |              |   | 24,368,587 |   |
| (Deficit)                  accumulated during the development stage *                                                                                                                                                                                                                        |   |           | (13,620,802 | )                 |   | (12,506,571 | ) |
| **Total                  shareholders' equity**                                                                                                                                                                                                                                              |   |           | 12,983,664  |              |   | 11,862,370 |   |
| **Total                  liabilities and shareholders' equity**                                                                                                                                                                                                                              |   | $              | 13,327,049  |              | $      | 12,235,853 |   |

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**CONSOLIDATED      STATEMENTS OF OPERATIONS**

**(Unaudited)**

|                                                         |   |                                           |       | Period from              |   |
|--------------------------------------------------------------|--------|------------------------------------------------|------------|-------------------------------|--------|
|                                                         |   |                                           |       | May 31, 2005        |   |
|                                                         |   | For the three months ended |       | (date of inception) |   |
|                                                         |   | March 31,                                 |       | to March 31,        |   |
|                                                         |   | 2008                                           |       | 2007                          |   | 2008 |   |
|                                                         |   | (Unaudited)                                    |       | (Unaudited)                   |   | (Restated) |   |
| **Revenues**                                                 |   | $                                              | -          |                          | $      | - |   | $ | - |   |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| **Operating                expenses:**                       |   |                                           |       |                          |   |   |   |   |   |   |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| In-process                research and development write-off |   |                                           | -          |                          |   | - |   |   | *                3,222,831 |   |
| Research                and development, net                 |   |                                           | 740,510    |                          |   | 228,394 |   |   | 3,504,856 |   |
| General                and administrative                    |   |                                           | 608,802    |                          |   | 234,261 |   |   | 7,516,361 |   |
|                                                         |   |                                           | 1,349,312  |                          |   | 462,655 |   |   | *                14,244,048 |   |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| Operating                (loss)                              |   |                                           | (1,349,312 | )                             |   | (462,655 | ) |   | *(14,244,048 | ) |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| Financial                income                              |   |                                           | 235,659    |                          |   | 3,072 |   |   | 638,997 |   |
| Financial                (expenses)                          |   |                                           | (578       | )                             |   | (26,898 | ) |   | (15,751 | ) |
| Net                (loss)                                    |   | $                                              | (1,114,231 | )                             | $      | (486,481 | ) | $ | *(13,620,802 | ) |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| (Loss)                per share (basic & diluted)        |   | $                                              | (0.03      | )                             | $      | (0.04 | ) | $ | *                (0.67 | ) |
|                                                         |   |                                           |       |                          |   |   |   |   |   |   |
| Weighted                average number of shares outstanding |   |                                           | 35,473,187 |                          |   | 13,588,552 |   |   | 20,468,444 |   |

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**CONSOLIDATED      STATEMENTS OF CASH FLOWS**

**(Unaudited)**

|                                                                                       |   |                                           |       | Period from              |   |
|--------------------------------------------------------------------------------------------|--------|------------------------------------------------|------------|-------------------------------|--------|
|                                                                                       |   |                                           |       | May 31, 2005        |   |
|                                                                                       |   | For the three months ended |       | (date of inception) |   |
|                                                                                       |   | March 31,                            |       | to March 31,        |   |
|                                                                                       |   | 2008                                           |       | 2007                          |   | 2008 |   |
|                                                                                       |   | (Unaudited)                                    |       | (Unaudited)                   |   |   |   |
| **Cash                flows from operating activities**                                    |   |                                           |       |                          |   |   |   |   |   |   |
| Net                cash (used in) operating activities                                     |   | $                                              | (522,404   | )                             | $      | (522,336 | ) | $ | (4,621,070 | ) |
|                                                                                       |   |                                           |       |                          |   |   |   |   |   |   |
| **Cash                flows from investing activities**                                    |   |                                           |       |                          |   |   |   |   |   |   |
| Purchase                of property and equipment                                          |   |                                           | (69,720    | )                             |   | (4,345 | ) |   | (286,524 | ) |
| Payment                for the acquisition of ModigeneTech Ltd.                            |   |                                           | -          |                          |   | - |   |   | (474,837 | ) |
| Long                term deposit                                                           |   |                                           | -          |                          |   | - |   |   | (2,951 | ) |
| Restricted                cash                                                             |   |                                           | (31,780    | )                             |   | (2,929 | ) |   | (93,618 | ) |
| Net                cash (used in) investing activities                                     |   |                                           | (101,500   | )                             |   | (7,274 | ) |   | (857,930 | ) |
|                                                                                       |   |                                           |       |                          |   |   |   |   |   |   |
| **Cash                flows from financing activities**                                    |   |                                           |       |                          |   |   |   |   |   |   |
| Short                term bank credit                                                      |   |                                           | (1,886     | )                             |   | 17,402 |   |   | (2,842 | ) |
| Proceeds                from loans                                                         |   |                                           | -          |                          |   | - |   |   | 173,000 |   |
| Principal                payment of loans                                                  |   |                                           | -          |                          |   | - |   |   | (173,000 | ) |
| Proceeds                from issuance of shares                                            |   |                                           | 2,000,000  |                          |   |   |   |   | 18,311,859 |   |
| Net                cash provided by (used in) financing activities                         |   |                                           | 1,998,114  |                          |   | 17,402 |   |   | 18,309,017 |   |
| **(Decrease)                increase in cash and cash equivalents**                        |   |                                           | 1,374,210  |                          |   | (512,208 | ) |   | 12,830,017 |   |
| **Cash                and cash equivalents at the beginning of the                period** |   |                                           | 11,455,807 |                          |   | 785,165 |   |   | - |   |
| **Cash                and cash equivalents at the end of the period**                      |   | $                                              | 12,830,017 |                          | $      | 272,957 |   | $ | 12,830,017 |   |
|                                                                                       |   |                                           |       |                          |   |   |   |   |   |   |
| Cash                paid for income taxes                                                  |   | $                                              | -          |                          | $      | - |   | $ | - |   |
| Cash                paid for interest expense                                              |   | $                                              | 578        |                          | $      | 2,937 |   | $ | 15,751 |   |

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| **NOTE                1:-** | **GENERAL** |
|-----------------------------|-------------|

|  | **a.** | **General:** |
|--|--------|--------------|

|  | **b.** | On                  March 25, 2008, the Company entered into a Securities Purchase                  Agreement                  (the “Purchase Agreement”) with a group of related parties (the                  “Investors”). The Purchase Agreement provides that the Company will                  sell to the Investors, and the Investors will purchase from the                  Company,                  800,000 shares of non registered Series A preferred stock, $0.00001                  par                  value per share (the “Series A Preferred Stock”), at $2.50 per share, for                  an aggregate purchase price of $2,000,000. The Series A Preferred                  Stock is                  convertible during the period beginning March 1, 2009 though March                  25,                  2012, without payment of any additional consideration, into non                  registered                  Common Stock, $0.00001 par value per share (the “Common Stock”) based on a                  conversion ratio equal to one share of Common Stock per share of                  Series A                  Preferred Stock. In the event that the market capitalization of                  the                  Company equals or exceeds $150,000,000 during any forty-five days                  within a                  consecutive ninety day period, the conversion ratio will adjust                  to five                  shares of Common Stock per share of Series A Preferred Stock. The                  conversion ratio in effect will be proportionately adjusted for                  subdivisions, combinations, consolidations and similar corporate                  events.                  If not previously converted, the Series A Preferred Stock will                  automatically be converted into Common Stock, at the applicable                  exchange                  ratio, on March 25, 2012. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | **c.** | On                  March 25, 2008, simultaneously with the closing of the transaction                  under                  the Securities Purchase Agreement, the Company entered into a Credit                  Agreement with the Investors. Under this line of credit, the Company                  may,                  at its discretion, borrow up to $10,000,000, which proceeds may                  be used                  for working capital or general corporate purposes of the Company,                  as                  approved by our board of directors (the “Board”). The maturity date for                  the line of credit is March 25, 2009, unless (i) the Company has                  borrowed                  any funds under the line of credit prior to March 25, 2009, or                  (ii) the                  Company elects to extend the line of credit. In either of such                  events the                  maturity date will be extended until March 25, 2013. Upon the maturity                  date, as the same may be extended, the Company is obligated to                  repay all                  outstanding borrowings, together with any accrued interest, and                  the line                  of credit will terminate. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| **NOTE                1:-** | **GENERAL**                  (continued) |
|-----------------------------|------------------------------------------|

| **NOTE                2:-** | **SIGNIFICANT                  ACCOUNTING POLICIES** |
|-----------------------------|------------------------------------------------------|

|  | **a.** | **Basis                  of presentation:** |
|--|--------|---------------------------------------------|

|  | **b.** | **Principles                  of consolidation:** |
|--|--------|---------------------------------------------------|

|  | **c.** | **Loss                  per share:** |
|--|--------|--------------------------------------|

| **NOTE                3:-** | **SHAREHOLDERS'                  EQUITY** |
|-----------------------------|-------------------------------------------|

|  | **a.** | **Rights                  of Common Stock:** |
|--|--------|----------------------------------------------|

|  | **b.** | On                  February 29, 2008 Mr. Havron Abraham, the Company's Chief Executive                  Officer, exercised 113,762 employee stock options into 113,762                  Common                  Stock. The options were granted in connection with the merger of                  Modigene                  Delaware with a wholly-owned subsidiary of the Company, in exchange                  for                  employee stock options to acquire 66,666 shares of Modigene Delaware                  common stock at $0.0001 per share. The total value of the shares                  issued                  was $102,386. |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| **NOTE                3:-** | **SHAREHOLDERS'                  EQUITY**(continued) |
|-----------------------------|------------------------------------------------------|

|  | **c.** | **Rights                  of Series A Preferred                  Stock:** |
|--|--------|---------------------------------------------------------------------------|

|  | **d.** | **Option                  plan:** |
|--|--------|-----------------------------------|

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| **NOTE                3:-** | **SHAREHOLDERS'                  EQUITY (continued)** |
|-----------------------------|-------------------------------------------------------|

|  | **d.** | **Option                  plan (continued):** |
|--|--------|-----------------------------------------------|

|                                                        |   | March                  31, 2008 |      |
|-------------------------------------------------------------|--------|---------------------------------|-----------|
|                                                        |   | Numberof Options           |      | Weighted AverageExercise Price |   |
|                                                        |   |                            |      |   |   |   |   |
| Outstanding                  at the beginning of the period |   |                            | 2,437,795 |   | $ | 1.23 |   |
| Exercised                                                   |   |                            | (113,762  | ) | $ | 0.0006 |   |
| Issued                  under the 2007 plan                 |   |                            | 1,975,000 |   | $ | 0.90 |   |
| Forfeited                                                   |   |                            | (25,000   | ) | $ | 2.00 |   |
| Outstanding                  at the end of the period       |   |                            | 4,274,033 |   | $ | 1.10 |   |
|                                                        |   |                            |      |   |   |   |   |
| Options                  exercisable                        |   |                            | 1,754,033 |   | $ | 0.88 |   |

|                |   |                     |      | Remaining Weightedaverage contractual life |   |                     |   |
|---------------------|--------|--------------------------|-----------|-----------------------------------------------------------|--------|--------------------------|--------|
| Exercise Price |   | Options Outstanding |      | (years)                                                   |   | Options Exercisable |   |
|                |   |                     |      |                                                      |   |                     |   |
| $                   | 0.879  |                     |      | 1,268,887                                                 |   |                     | 7.97   |   |   | 1,268,887 |   |
| $                   | 0.90   |                     |      | 1,950,000                                                 |   |                     | 9.92   |   |   | - |   |
| $                   | 0.93   |                     |      | 25,000                                                    |   |                     | 9.93   |   |   | - |   |
| $                   | 1.32   |                     |      | 435,146                                                   |   |                     | 4.92   |   |   | 435,146 |   |
| $                   | 2.00   |                     |      | 475,000                                                   |   |                     | 9.11   |   |   | - |   |
| $                   | 2.50   |                     |      | 120,000                                                   |   |                     | 4.95   |   |   | 50,000 |   |
|                |   |                     | 4,274,033 |                                                      |   | 8.61                     |   |   | 1,754,033 |   |

** **

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| **NOTE                4:-** | **AMENDED                  FINANCIAL STATEMENTS** |
|-----------------------------|---------------------------------------------------|

|                                                                                                                                        |   | **Originally reported** |        | **Amended** |   | **Differences** |   |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|-------------|-------------|--------|-----------------|--------|
| **Balance                  Sheets:**                                                                                                        |   |                         |        |        |   |            |   |
| Additional                  paid-in capital                                                                                                 |   | $                            | 37,604,112  |        | $      | 26,604,103      |   | $ | 11,000,009 |   |
| (Deficit)                  accumulated during the development stage                                                                         |   | $                            | (24,620,811 | )           | $      | (13,620,802     | )      | $ | (11,000,009 | ) |
|                                                                                                                                        |   |                         |        |        |   |            |   |   |   |   |
| **Statements                  of Operations:**                                                                                              |   |                         |        |        |   |            |   |   |   |   |
| For                  the Period from May 31, 2005                  (date of inception)                  to                  March 31, 2008: |   |                         |        |        |   |            |
| In-process                  research and development write-off                                                                              |   | $                            | (14,222,840 | )           | $      | (3,222,831      | )      | $ | (11,000,009 | ) |
| Operating                  (loss)                                                                                                           |   | $                            | (25,244,057 | )           | $      | (14,244,048     | )      | $ | (11,000,009 | ) |
| Net                  (loss)                                                                                                                 |   | $                            | (24,620,811 | )           | $      | (13,620,802     | )      | $ | (11,000,009 | ) |
| (Loss)                  per share (basic & diluted)                                                                                     |   | $                            | (1.20       | )           | $      | (0.67           | )      | $ | (0.53 | ) |

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**ITEM        2. **
**Management’s        Discussion and Analysis of Financial Condition and Results of        Operations.**

**Management’s        Discussion and Analysis**

**Results        of Operation**

***The        section “Critical Accounting Policies” as reported in the Form 10-Q filed May        13, 2008, is replaced in its entirety by the following        section:***

***Critical        Accounting Policies***

*Use        of Estimates:*

*Financial        Statements in United States Dollars:*
** **

*Principles        of Consolidation:*

*Cash        Equivalents:*

*Property        and Equipment:*

|                                                |   | %  |   |
|-----------------------------------------------------|--------|---------|--------|
|                                                |   |    |   |
| Office                  furniture and equipment     |   |    | 6      |   |
|                                                |   |    |        |   |
| Laboratory                  equipment               |   |    | 15     |   |
|                                                |   |    |        |   |
| Computers                  and electronic equipment |   |    | 33     |   |
|                                                |   |    |        |   |
| Leasehold                  improvements             |   |    | 25     |   |

** **

----

*Research        and Development Costs and Participation:*

*Severance        Pay:*

*Income        Taxes:*

*Concentrations        of Credit Risk:*

*Fair        Value of Financial Instruments:*

*Royalty-bearing        Grants:*

*Loss        per Share:*

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**ITEM        6.**
**Exhibits.**

|   | 31.1 | Certification                  of Chief Executive Officer pursuant to Item 601(b)(31) of Regulation                  S-K                  (Filed herewith). |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification                  of Chief Financial Officer pursuant to Item 601(b)(31) of Regulation                  S-K                  (Filed herewith). |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 32.1 | Certification                  of Chief Executive Officer pursuant to Item 601(b)(32) of Regulation                  S-K                  (Filed herewith). |
|--|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 32.2 | Certification                  of Principal Financial Officer pursuant to Item 601(b)(32) of Regulation                  S-B (Filed herewith). |
|--|------|------------------------------------------------------------------------------------------------------------------------------------------------|

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**SIGNATURES**

|                                    | MODIGENE                INC.             |
|-----------------------------------------|------------------------------------------|
|                                    |                                     |
|                    August 13, 2008 |                                          | /s/                  Abraham Havron |
| Date                                    | Abraham                  Havron          |
|                                    | Chief                  Executive Officer |

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