UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C. 20549









[X]
              Annual
                  Report Pursuant to Section 13 or 15(d) of the Securities Exchange
                  Act of
                  1934For
                  the Fiscal Year Ended**December
                  31, 2006**[
                  ]
              Transition
                  Report Pursuant to Section 13 or 15(d) of the Securities Exchange
                  Act of
                  1934
  **Abazias,
          Inc.**
 (Exact
          name of registrant as specified in its charter)
 
 **Florida**
                **333-112167**
                **65-0636277**(State
                    or other jurisdictionof
                    incorporation)
                (CommissionFile
                    No.)
                (IRS
                    EmployerIdentification
                    No.)
   **5214
          SW 91** **st** **Terrace Suite A**
 **Gainesville,
          FL 32608**
 (Address
          of principal executive offices) (Zip Code)
  **352-264-9940** (Registrant’s
          telephone number)
  Securities
          Registered Pursuant to Section 12(b) of the Act: NONE
 
 Title
                    of each class
                Name
                    of each exchange on which
                    registered
 
 Securities
          Registered Pursuant to Section 12(g) of the Act:
  **COMMON**
 (Title
          of
          class)






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




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




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




The
      issuer's revenues for its most recent fiscal year was $4,794,369 .




State
      the
      aggregate market value of the voting and non-voting common equity
      held by non-affiliates computed by reference to the price at which the common
      equity was sold, or the average bid and asked prices of such common equity,
      as of a specified date within the past 60 days. (See definition of affiliate
      in Rule 12b-2 of the Exchange Act.) As of March 23, 2005: $516,695





Note:
      If
      determining whether a person is an affiliate will involve an unreasonable
      effort and expense, the issuer may calculate the aggregate market value
      of
      the common equity held by non-affiliates on the basis of reasonable assumptions,
      if the assumptions are stated.




As
      of the
      date of this filing, the Company's Common Stock is trading on the over the
      counter bulletin board.




As
      of
      April 5, 2007, 2,775,857 shares of our common stock were issued and
      outstanding.




-1-




**DOCUMENTS
      INCORPORATED BY REFERENCE**




If
      the
      following documents are incorporated by reference, briefly describe them and
      identify the part of the Form 10-KSB (e.g., Part I, Part II, etc.) into which
      the document is incorporated: (1) any annual report to security holders; (2)
      any
      proxy or information statement; and (3) any prospectus filed pursuant to Rule
      424(b) or (c) of the Securities Act of 1933 ("Securities Act").  The listed
      documents should be clearly described for identification purposes (e.g., annual
      report to security holders for fiscal year ended December 24,
      1990).




No
      documents are incorporated by reference into this Annual Report on Form
      10-KSB.




Transitional
      Small Business Disclosure Format (Check one): Yes [  ] No [X]






**FORWARD
      LOOKING STATEMENTS**




This
      Annual Report contains forward-looking statements about our business, financial
      condition and prospects that reflect our management's assumptions and beliefs
      based on information currently available. We can give no assurance that the
      expectations indicated by such forward-looking statements will be
      realized.  If any of our assumptions should prove incorrect, or if any of
      the risks and uncertainties underlying such expectations should materialize,
      Winfield's actual results may differ materially from those indicated by the
      forward-looking statements.




The
      key
      factors that are not within our control and that may have a direct bearing
      on
      operating results include, but are not limited to, acceptance of our services,
      our ability to expand its customer base, managements' ability to raise capital
      in the future, the retention of key employees and changes in the regulation
      of
      our industry.




There
      may
      be other risks and circumstances that management may be unable to predict. 
When used in this Report, words such as,  "believes,"  "expects,"
      "intends,"  "plans," "anticipates,"  "estimates" and similar
      expressions are intended to identify and qualify forward-looking statements,
      although there may be certain forward-looking statements not accompanied by
      such
      expressions.  However, the forward-looking statements contained herein are
      not covered by the safe harbors created by Section 21E of the Securities
      Exchange Act of 1934.




-2-




**Table
      of Contents**




PART
                IITEM
                1. BUSINESS.
            4ITEM
                2. DESCRIPTION OF PROPERTY
            11ITEM
                3. LEGAL PROCEEDINGS
            11ITEM
                4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY
                HOLDERS
            11PART
                IIITEM
                5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER
                MATTERS
            11ITEM
                6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
                OPERATION
            13ITEM
                7. FINANCIAL STATEMENTS
            17ITEM
                8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
                FINANCIAL DISCLOSURE
            26ITEM
                8A. CONTROLS AND PROCEDURES
            26PART
                IIIITEM
                9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
                COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT
            27ITEM
                10. EXECUTIVE COMPENSATION
            29ITEM
                11. SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY
                HOLDERS
            30ITEM
                12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
            30ITEM
                13. EXHIBITS AND REPORTS ON FORM 8-K
            31ITEM
                14. PRINCIPAL ACCOUNTANT FEES AND
                SERVICES
            31




-3-




**PART
      I**




**ITEM
      1.  BUSINESS.**




Background





We
      were
      incorporated under the name Biologistics, Inc. under the laws of Colorado on
      December 13, 1994, to engage in clinical consulting, contract packaging and
      labeling services. We never had any operations. On April 22, 1997, we merged
      into a subsidiary that was organized under the name Biologistics, Inc. under
      the
      laws of Delaware on March 19, 1997 and became a Delaware corporation. We
      organized PBI Acquisition Corp. as a wholly-owned subsidiary on March 31, 1999,
      and on the same date Performance Brands, which we operated as our former
      wholly-owned subsidiary, entered into a merger agreement with and was merged
      into PBI Acquisition Corp. resulting in PBI becoming our wholly-owned
      subsidiary. On May 12, 1999, we changed our name to Skintek Labs, Inc. or
      SKNT.





The
      purpose of the March 31, 1999 merger between SKNT and PBI was to enable SKNT
      to
      become an operating company. Since its incorporation on September 21, 1995
      under
      the laws of Florida, PBI was engaged in the sale of products for skin fitness,
      self-tanning, sun protection and nutrition. PBI's products were sold through
      direct mail, drug chains, mass market outlets, health food stores, gyms, and
      tanning, nail and hair salons, as well as private label sales. Our sole business
      and operations after the merger of PBI into SKNT in March 1999 was the business
      and operations of PBI.





We
      divested PBI, our wholly-owned subsidiary, pursuant to a Share Transfer
      Agreement dated as of April 30, 2001 under which we transferred all shares
      of
      PBI to Stacy Kaufman, our former president, director and control shareholder.
      Since then our operations had consisted of the following: We seek business
      opportunities throughout the United States to make acquisitions or enter into
      other business endeavors to the extent our limited assets and personnel will
      allow. Our business objective was to effect a merger, exchange of capital stock,
      asset acquisition or other business combination with an operating business
      that
      will have significant growth potential. On September 18, 2002, we changed our
      name to Hunno Technologies, Inc.





In
      October 2003 we acquired Abazias, Inc. and changed our name to Abazias,
      Inc.





Overview





We
      are an
      online retailer of high quality loose diamonds and fine jewelry settings for
      our
      diamonds. Our web site at www.abazias.com showcases over 70,000 diamonds, most
      of which are independently certified; and more than 100 styles of fine jewelry,
      including rings, wedding bands, earrings, necklaces, and bracelets.





We
      have
      developed an efficient online cost structure and a unique supply solution that
      eliminates traditional layers of diamond wholesalers and brokers, which allow
      us
      to purchase most of our product offerings at lower prices by avoiding mark-ups
      imposed by those intermediaries. Our supply solution enables us to purchase
      only
      those diamonds that our customers have ordered. As a result, we are able to
      minimize the costs associated with carrying diamond inventory and limit our
      risk
      of potential mark-downs.





-4-




The
      significant costs of diamonds and fine jewelry lead consumers to require
      substantial information and trusted guidance throughout their purchasing
      process. Our web site and extensively trained customer service representatives
      improve the traditional purchasing experience by providing education and
      detailed product information that enable our customers to objectively compare
      diamonds and fine jewelry products and make informed decisions. Our web site
      features interactive search functionality that allows our customers to quickly
      find the products that meet their exact needs from our broad selection of
      diamonds and fine jewelry.





Because
      out business model involves the resale of diamonds and fine jewelry that we
      currently do not take physical position of our diamonds, our business model
      is
      significantly reliant upon maintaining the relationships with several
      wholesalers including but not limited to the extension of credit based on our
      past history with these wholesalers. In the event such credit is reduced, our
      distribution channels would be reduced or cut off this would significantly
      curtail our ability to function in our current format.





We
      currently deal on a regular basis with between 20 to 30 diamond and fine jewelry
      dealers who grant us credit. This credit varies between each dealer, from $0
      to
      $200,000. In addition, there are currently in the area of three to five dealers
      which extend no credit at all. With these dealers it is required that we either
      provide an independent form of credit or wire transfer before we are able to
      procure any inventory. However, our current business model requires payments
      from customers in advance. In the event that a customer decides to return an
      item, he is responsible for shipping and insuring it back to us. Once we receive
      the item and verify it’s condition we refund the customer by the same method he
      used to make payment. We then ship the item back to the dealer, in most cases
      we
      will require no refund since, we usually have the item extended to us on credit.
      If we have already made payment the dealer will usually refund us by bank wire
      transfer. Abazias extends a 10 ten day unconditional return policy to all it’s
      customers. We also offer on 80% value lifetime trade up policy on all diamond
      purchases.





As
      an
      online retailer, we do not incur most of the costs associated with operating
      brick and mortar retail stores. We have also created efficiencies in our supply
      chain through our supplier relationships, which eliminate multiple
      intermediaries from the traditional supply chain, including many jewelry
      manufacturers and several layers of diamond and jewelry wholesalers. This allows
      us to purchase diamonds at lower prices by eliminating the mark-ups typically
      imposed by these intermediaries. Our business model also avoiding much of the
      cost associated with carrying diamond inventory and minimizes the risk of
      potential inventory mark-downs. Unlike most other diamond retailers, we do
      not
      hold the diamonds we offer for sale in inventory until we receive customer
      orders. With limited exceptions, most of the diamonds we display are owned
      by
      our suppliers. Upon receipt of a customer order for a specific diamond, we
      purchase that diamond from our supplier, who generally ships it on our behalf
      in
      one business day.





We
      believe this model provides value to our customers, including the following:


•
            *Detailed
                Information.*We
                provide convenient access to extensive and consistent product information
                through our web site. We use this information to educate our customers
                on
                the general characteristics of diamonds and fine jewelry and the
                specific
                attributes of the items they are viewing•
            *Broad
                Selection.*We
                offer our customers more than 70,000 high quality diamonds, the majority
                of which are independently certified by independent gemological
                laboratories such as GIA (Gemological Institute of America). These
                diamonds can be set in many styles including but limited to rings,
                earrings, and pendants. In addition, we offer a limited selection
                of fine
                jewelry. Our interactive search functionality allows our customers
                to
                efficiently sort through this broad selection.•
            *Ability
                to Customize.*Our
                customers can customize their diamond jewelry purchases by selecting
                individual diamonds to be set in their choice of ring, earring or
                pendant
                settings.•
            *Lower
                Pricing.*We
                are able to offer our customers significantly lower prices than
                traditional jewelry retailers primarily by eliminating any inventory
                and
                associated maintenance costs. Because of our relationship within
                the
                diamond supply chain we have established an efficient price structure
                which has created incentives for our suppliers to provide us with
                advantageous prices.•
            *Knowledgeable
                Customer Support.*Our
                extensively trained customer service staff is available to provide
                assistance to our customers throughout the purchase process, creating
                a
                customer experience that instills trust and helps customers make
                informed
                purchasing decisions. Unlike many traditional retailers, we currently
                do
                not compensate our staff on a commission-based system.•
            *Life
                time trade-up policy.*We
                have a lifetime trade up policy which provides a guaranteed trade
                up of
                80% of the price of the original diamond purchase. This provides
                our
                customers with the ability and incentive to become and remain our
                customers for many years to come. This affords our customers an option
                that many of our competitors will not extend to them.•
            *Free
                Shipping and 10-day Return Guarantee.*We
                provide free shipping on many of our products. Substantially all
                diamond
                engagement rings are delivered by priority overnight delivery. Orders
                for
                in-stock, non-customized jewelry that are placed by 3:00 p.m. Eastern
                time are generally shipped the same day. Deliveries of customized
                diamond
                jewelry products typically take no more than 2 weeks. For most items,
                we
                offer our customers an unconditional 10-day return policy.





-5-




Merchandising





Our
      merchandise consists of high quality diamonds and fine jewelry, with a
      particular focus on engagement diamonds and settings. Our online business model,
      combined with the strength of our supplier relationships, enables us to pursue
      a
      dynamic merchandising strategy. Our diamond supplier relationships allow us
      to
      display suppliers’ diamond inventories on our web site for purchase without
      holding the diamonds in our inventory until the products are ordered by
      customers. Our agreements with suppliers in some cases provide for certain
      diamonds to be offered online to consumers only through our web site.





Diamonds
      represent the most significant component of our product offerings. While we
      currently offer over 70,000 most of which are independently certified diamonds,
      we limit our diamond offerings to those possessing characteristics associated
      with high quality merchandise. Accordingly, we offer diamonds with the following
      characteristics:





•
            *Shape.*Round,
                princess, emerald, oval, heart, pear, radiant, asscher and marquise.•
            *Cut.*Ranging
                from “Ideal” for diamond cuts that fall within strict mathematical
                proportions to “Fair” for diamond cuts that maximize the weight of the
                original stone at the expense of optimal light reflection.•
            *Color
                Grades.*Ranging
                from “D” for no detectable color tone to “J” for nearly undetectable
                traces of color to the untrained eye.•
            *Clarity.*Ranging
                from “FL” for flawless clarity to “I1” for some visible inclusions or
                flaws.•
            *Carat
                Weight.*Generally
                ranging from approximately 0.25 to 10 carats.





Customers
      may purchase customized diamond jewelry by selecting a diamond and then choosing
      from a variety of ring, earring and pendant settings that are designed to match
      the shape of each individual diamond. The customized product is then assembled
      and delivered to the customer, typically within four business days.





We
      offer
      a broad range of fine jewelry products to complement our selection of high
      quality customized diamond jewelry. Our selection includes diamond, platinum,
      and gold jewelry. Our fine jewelry assortment includes rings, wedding bands,
      earrings, necklaces, pendants, and bracelets. We focus on selected classic
      and
      contemporary designs, which we believe maximizes our customer base. We currently
      have relationships with approximately five fine jewelry suppliers from which
      we
      source our jewelry.





Marketing





Our
      primary target market is 25 to 45 year-old men and women, who represent the
      largest segment of our customer base. We believe these consumers generally
      seek
      high quality diamonds and fine jewelry from a trusted source in a
      non-intimidating environment, where information, guidance, reputation,
      convenience and value are important characteristics.





-6-




Our
      marketing and advertising efforts include online and offline initiatives which
      primarily consist of the following:





•
            *Portal
                and Targeted Web Site Advertising.*A
                primary vehicle for our online advertising is the placement of banner
                advertisements and optimized search results on web sites with high
                traffic
                volumes. We currently maintain advertising relationships with AOL,
                Google,
                MSN, Overture and Yahoo. In addition, we advertise on sites that
                appeal to
                our target customer base and networks that distribute our banner
                advertisements to multiple web sites.•
            *Direct
                Marketing.*We
                utilize an electronic direct marketing program to encourage repeat
                purchases and customer retention, generate referral business and
                provide
                access to increasing numbers of prospective customers. Once a customer
                has
                completed a purchase, we focus on establishing a continuing relationship
                with that customer in order to encourage repeat purchases. To acquire
                new
                customers, we leverage our relationships with existing customers
                by
                encouraging them to refer friends and family to our.





Customer
      Service and Support





A
      key
      element of our sales strategy is our ability to provide a high level of customer
      service and support. We augment our online information resources with
      knowledgeable, highly trained support staff to give customers confidence in
      their purchases. Our commitment to customers is reflected in both the high
      service levels provided by our extensively trained customer service associates,
      as well as in our guarantees and policies.





Our
      top
      priority is to provide, on a timely basis, the personalized customer service
      that fine jewelry customers require. Our customer service staff answers
      approximately 85% of all calls to our call center within 10 seconds during
      normal business hours. They are available to provide assistance via e-mail
      and
      telephone five days a week, from 10:00 a.m. to 6 p.m. Eastern time. Although
      this schedule accommodates almost all of our call volume, we monitor after-hours
      calls to determine if service hours need to be extended. Our customer service
      associates are trained to provide guidance on all steps in the process of buying
      diamonds and fine jewelry, including, among other things, the process for
      selecting an appropriate item, the purchase of that item, financing and payment
      alternatives and shipping services.





We
      prominently display all of our guarantees and policies on our web site to create
      an environment that is intended to instill confidence in our. These include
      policies relating to privacy, security, product availability, pricing, shipping,
      refunds, exchanges and special orders.





Fulfillment
      Operations





Our
      fulfillment operations strategy is designed to enhance value for our customers
      by fulfilling orders quickly, securely and accurately. Our fulfillment center
      has restricted access and security controls and has been designed for the prompt
      receipt, storage and shipment of our products.





When
      an
      order for a customized diamond jewelry setting is received, the third-party
      supplier who holds the diamond in inventory generally ships it to us within
      one
      business day. Upon receipt, the merchandise is sent to assembly for setting
      and
      sizing, which is performed by our independent jewelers with whom we maintain
      ongoing relationships.





-7-




Prompt
      and secure delivery of our products is a high priority, and we ship nearly
      all
      diamond and fine jewelry products via nationally recognized carriers. Loose
      diamonds may be shipped by us or directly by our suppliers to our customers.
      All
      shipments of products are fully insured by a third party in case of loss or
      theft. Customer orders are typically delivered within one to six business days,
      depending on product availability, price point, shipping method and whether
      the
      orders require customization.





For
      most
      of our products, we offer an unconditional 10-day return policy, under which
      customers desiring to return a product receive return authorization by calling
      our customer service center. Returned products are treated as merchandise
      receipts and are subject to the same inventory accountability and security
      steps
      described above.





Technology
      and Systems





We
      have
      implemented our inventory, merchandising, order processing and fulfillment,
      customer interaction and financial reporting systems using a combination of
      proprietary and licensed technologies. We focus our internal development efforts
      on creating and enhancing the features and functionality of our web site and
      order processing and fulfillment systems to deliver a high quality customer
      experience.





Our
      web
      site, and in particular our interactive search, are based on internally
      developed proprietary technology. Our interactive search functionality allows
      customers to choose a diamond based on price and characteristics such as shape,
      cut, color, clarity, and carat size. Our web site uses secure encryption
      technology to send and receive financial information to prevent unauthorized
      parties from intercepting such information.





We
      have
      internally developed critical software systems, including our call center
      systems and vendor extranet. The inventory management systems that we have
      developed on our vendor extranet include regularly scheduled data communications
      between us and our key diamond suppliers. These communications enable us to
      accurately track individual diamonds located at our suppliers for efficient
      delivery.





We
      license third-party information technology systems for our financial reporting,
      inventory, order fulfillment and merchandising. We use redundant Internet
      carriers to minimize downtime. Our systems are monitored continuously using
      third-party software and an on-call team is staffed to respond to any
      emergencies in the technology infrastructure.





Seasonality





Our
      business has been highly seasonal, reflecting the retail industry’s general
      pattern of peak sales in late November and December during the holiday shopping
      season. The fourth quarter of 2006 accounted for approximately 45% our net
      sales
      In anticipation of increased sales activity during the fourth quarter, we incur
      additional expenses, including customer support and jewelry assembly costs.
      In
      addition, we make merchandising and inventory decisions for the holiday season
      well in advance. We also have experienced relatively higher net sales in
      February and May relating to Valentine’s Day and Mother’s Day. Due to the
      seasonality of our sales, our quarterly results will fluctuate, perhaps
      significantly.





-8-




Competition





The
      diamond and fine jewelry retail market is intensely competitive and highly
      fragmented. Our primary competition comes from online and offline retailers
      that
      offer products within the higher value segment of the jewelry market. In the
      future, we may also compete with other retailers that move into the higher
      value
      jewelry segment. Current or potential competitors include the following:





•
            independent
                jewelry stores;•
            retail
                jewelry store chains;•
            other
                online retailers that sell jewelry;•
            department
                stores, chain stores and mass retailers;•
            online
                auction sites;•
            catalog
                and television shopping retailers; and•
            Discount
                superstores and wholesale clubs.





In
      addition to these competitors, we may face competition from suppliers of our
      products that decide to sell directly to our customers, either through physical
      retail outlets or through an online store.





We
      believe that the principal competitive factors in our market are product
      selection and quality, price, customer service and support, brand recognition,
      reputation, reliability and trust, web site features and functionality,
      convenience and delivery performance. We believe that we compete favorably
      in
      the market for diamonds and fine jewelry by offering detailed product
      information, broad product selection, the ability to customize jewelry, lower
      pricing and knowledgeable customer support to our customers.


Intellectual
      Property





We
      rely
      on technologies that we license from third parties. These licenses may not
      continue to be available to us on commercially reasonable terms in the future.
      As a result, we may be required to obtain substitute technologies of lower
      quality or at greater cost, which could materially adversely affect our
      business, results of operations and financial condition.





Third
      parties may assert that our business or the technologies we use infringe upon
      their rights. We cannot predict whether any such assertions or any claims based
      on such assertions will harm our business or results of operations. We expect
      that participants in our market will be increasingly subject to infringement
      claims as the number of competitors in our industry grows. Any such claim,
      with
      or without merit, could be time-consuming, result in costly litigation, cause
      service upgrade delays or require us to enter into burdensome royalty or
      licensing agreements.





-9-




Government
      Regulation




We
      are
      not currently subject to direct federal, state or local regulation other than
      regulations applicable to businesses generally or directly applicable to
      retailing or online commerce. However, as the Internet becomes increasingly
      popular, it is possible that a number of laws and regulations may be adopted
      with respect to the Internet. These laws may cover issues such as user privacy,
      freedom of expression, pricing, content and quality of products and services,
      taxation, advertising, intellectual property rights and information security.
      Further, the growth of online commerce may prompt calls for more stringent
      consumer protection laws. Several states have proposed legislation to limit
      the
      uses of personal user information gathered online or require online companies
      to
      establish privacy policies. The Federal Trade Commission has also initiated
      action against at least one online company regarding the manner in which
      personal information is collected from users and provided to third parties.
      We
      do not currently provide individual personal information regarding our users
      to
      third parties. However, the adoption of additional privacy or consumer
      protection laws could create uncertainty in Internet usage and reduce the demand
      for our products and services.





We
      are
      not certain how our business may be affected by the application of existing
      laws
      governing issues such as property ownership, copyrights, encryption and other
      intellectual property issues, taxation, libel, obscenity, qualification to
      do
      business and export or import matters. The vast majority of these laws were
      adopted prior to the advent of the Internet. As a result, they do not
      contemplate or address the unique issues of the Internet and related
      technologies. Changes in laws intended to address these issues could create
      uncertainty for those conducting online commerce. This uncertainty could reduce
      demand for our products and services or increase the cost of doing business
      as a
      result of litigation costs or increased fulfillment costs.





In
      addition, because our products and services are available over the Internet
      in
      multiple states, certain states may claim that we are required to qualify to
      do
      business in such state. Currently, we are qualified to do business only in
      the
      States of Nevada and Florida. Our failure to qualify to do business in a
      jurisdiction where we are required to do so could subject us to taxes and
      penalties. It could also hamper our ability to enforce contracts in these
      jurisdictions. The application of laws or regulations from jurisdictions whose
      laws do not currently apply to our business could harm our business and results
      of operations.





Employees





As
      of
      December 31, 2006, we employ directly or indirectly approximately 11
      individuals, half of
      which
      are on a full-time basis. The employee make up breaks down as follows: 2 are
      management, 2 are consultants, 2 are IT, and 4 are sales.





Our
      employees are not party to any collective bargaining agreement, and we have
      never experienced an organized work stoppage. We believe our relations with
      our
      employees are good.





Legal
      Proceedings





From
      time
      to time, we may be involved in litigation relating to claims rising out of
      our
      ordinary course of business. As of April 3, 2007, we were not a party to any
      material legal proceedings.




-10-




**ITEM
      2.  DESCRIPTION OF PROPERTY**




All
      of
      our facilities are currently located in Gainesville, Florida. Our corporate
      headquarters consists of approximately 1,200 square feet which we rent on a
      month to month basis. Our Landlord is Oscar Rodriquez our CEO and our monthly
      rent is approximately $2,200.




We
      believe that our facilities will be adequate to meet our current needs. 
However, as we continue to implement our business plan, we may need to relocate
      our headquarters office space.  We anticipate such facilities are available
      to meet our development and expansion needs in existing and projected target
      markets for the foreseeable future.




We
      are
      not subject to competitive conditions for property and currently have no
      property to insure.  We have no policy with respect to investments in real
      estate or interests in real estate and no policy with respect to investments
      in
      real estate mortgages.  Further, we have no policy with respect to
      investments in securities of or interests in persons primarily engaged in real
      estate activities.




**ITEM
      3.  LEGAL PROCEEDINGS**




We
      are
      not currently involved in any legal proceedings nor do we have knowledge of
      any
      threatened litigation.




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




None.




**PART
      II**




**ITEM
      5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER
      MATTERS**




Market
      information




Our
      stock
      became qualified for quotation on the over the counter bulletin board under
      the
      symbol BOLX on 5/13/99. Our symbol changed to ABZS on 10/9/03. On September
      10,
      2006 the company affected a one−for−forty reverse stock split of their common
      stock. All issued and outstanding common stock and related per share amounts
      in
      this Annual Report on Form 10−K have been retroactively adjusted to reflect this
      reverse stock split. The number of shares of preferred stock outstanding was
      not
      affected. Following this split, we trade under the symbol ABZA.





-11-




High
      and
      Low Sales Prices for each quarter within the last two fiscal years.





**High**
            ****
            ****
            **Low**3/31/05
                --
            
            
            4.20
            
            
            2.406/30/05
                --
            
            
            4.00
            
            
            2.409/30/05
                --
            
            
            4.00
            
            
            2.2012/31/05
                --
            
            
            4.40
            
            
            2.603/31/06
                --
            
            
            4.20
            
            
            2.006/30/06
                --
            
            
            3.40
            
            
            2.009/30/06
                --
            
            
            3.20
            
            
            1.5512/31/06
                --
            
            
            2.85
            
            
            1.60




*
      The
      quotations reflect inter-dealer prices, without mark-up, mark-down
      or


commission
      and may not represent actual transactions.





Penny
      Stock Considerations





Our
      shares are "penny stocks" as that term is generally defined in the Securities
      Exchange Act of 1934 to mean equity securities with a price of less than $5.00.
      Our shares thus will be subject to rules that impose sales practice and
      disclosure requirements on broker-dealers who engage in certain transactions
      involving a penny stock.





Under
      the
      penny stock regulations, a broker-dealer selling a penny stock to anyone other
      than an established customer or accredited investor must make a special
      suitability determination regarding the purchaser and must receive the
      purchaser's written consent to the transaction prior to the sale, unless the
      broker-dealer is otherwise exempt. Generally, an individual with a net worth
      in
      excess of $1,000,000 or annual income exceeding $100,000 individually or
      $300,000 together with his or her spouse is considered an accredited investor.
      In addition, under the penny stock regulations the broker-dealer is required
      to:





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


·
            Disclose
                commissions payable to the broker-dealer and our registered
                representatives and current bid and offer quotations for the
                securities;


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


·
            Make
                a special written determination that the penny stock is a suitable
                investment for the purchaser and receive the purchaser's written
                agreement
                to the transaction, prior to conducting any penny stock transaction
                in the
                customer's account.





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





-12-




Holders




As
      of
      December 31 st ,
      2006,
      we have 2,149,607 shares of Common Stock issued and outstanding held by 69
      shareholders of record.




Dividends




We
      have
      not declared any cash dividends on our common stock since our inception and
      do
      not anticipate paying such dividends in the foreseeable future.  We plan to
      retain any future earnings for use in our business.  Any decisions as to
      future payments of dividends will depend on our earnings and financial position
      and such other facts as the board of directors deems relevant.  We are not
      limited in our ability to pay dividends on our securities.




**ITEM
      6.  MANAGEMENT'S DISCUSSION AND ANALYSISOR PLAN OF
      OPERATION**




Forward
      Looking Statements




Some
      of
      the statements contained in this Form 10-KSB that are not historical facts
      are
      "forward-looking statements" which can be identified by the use of terminology
      such as "estimates," "projects," "plans," "believes," "expects," "anticipates,"
      "intends," or the negative or other variations, or by discussions of strategy
      that involve risks and uncertainties.  We urge you to be cautious of the
      forward-looking statements, that such statements, which are contained in this
      Form 10-KSB, reflect our current beliefs with respect to future events and
      involve known and unknown risks, uncertainties and other factors affecting
      our
      operations, market growth, services, products and licenses.  No assurances
      can be given regarding the achievement of future results, as actual results
      may
      differ materially as a result of the risks we face, and actual events may differ
      from the assumptions underlying the statements that have been made regarding
      anticipated events.  Factors that may cause actual results, our performance
      or achievements, or industry results, to differ materially from those
      contemplated by such forward-looking statements include without
      limitation:




·
            Our
                ability to maintain, attract and integrate internal management, technical
                information and management information
                systems;


·
            Our
                ability to generate customer demand for our
                services;


·
            The
                intensity of competition; and


·
            General
                economic conditions.




All
      written and oral forward-looking statements made in connection with this Form
      10-KSB that are attributable to us or persons acting on our behalf are expressly
      qualified in their entirety by these cautionary statements. Given the
      uncertainties that surround such statements, you are cautioned not to place
      undue reliance on such forward-looking statements.




We
      were
      incorporated under the name Biologistics, Inc. under the laws of Colorado on
      December 13, 1994, to engage in clinical consulting, contract packaging and
      labeling services. We never had any operations. On April 22, 1997, we merged
      into a subsidiary that was organized under the name Biologistics, Inc. under
      the
      laws of Delaware on March 19, 1997 and became a Delaware corporation. We
      organized PBI Acquisition Corp. as a wholly-owned subsidiary on March 31, 1999,
      and on the same date Performance Brands, which we operated as our former
      wholly-owned subsidiary, entered into a merger agreement with and was merged
      into PBI Acquisition Corp. resulting in PBI becoming our wholly-owned
      subsidiary. On May 12, 1999, we changed our name to Skintek Labs, Inc. or
      SKNT.





The
      purpose of the March 31, 1999 merger between SKNT and PBI was to enable SKNT
      to
      become an operating company. Since its incorporation on September 21, 1995
      under
      the laws of Florida, PBI was engaged in the sale of products for skin fitness,
      self-tanning, sun protection and nutrition. PBI's products were sold through
      direct mail, drug chains, mass market outlets, health food stores, gyms, and
      tanning, nail and hair salons, as well as private label sales. Our sole business
      and operations after the merger of PBI into SKNT in March 1999 was the business
      and operations of PBI.





We
        divested PBI, our wholly-owned subsidiary, pursuant to a Share Transfer
        Agreement dated as of April 30, 2001 under which we transferred all shares
        of
        PBI to Stacy Kaufman, our former president, director and control shareholder.
        Since then our operations had consisted of the following: We seek business
        opportunities throughout the United States to make acquisitions or enter
        into
        other business endeavors to the extent our limited assets and personnel will
        allow. Our business objective was to effect a merger, exchange of capital
        stock,
        asset acquisition or other business combination with an operating business
        that
        will have significant growth potential. On September 18, 2002, we changed
        our
        name to Hunno Technologies, Inc.





On
      September 10, 2006 the company affected a one−for−forty reverse stock split of
      their common stock. All issued and outstanding common stock and related per
      share amounts in this Annual Report on Form 10−K have been retroactively
      adjusted to reflect this reverse stock split. The number of shares of preferred
      stock outstanding was not affected.




Overview





We
      are an
      online retailer of high quality loose diamonds and fine jewelry settings for
      our
      diamonds. Our web site at www.abazias.com showcases over 60,000 diamonds almost
      all of which are independently certified and around 100 styles of fine jewelry,
      including rings, wedding bands, earrings, necklaces, and bracelets.




-13-




STATEMENT
      OF OPERATIONS INFORMATION


Years
      ended December 31, 2006 and 2005




2006
            
            
            2005Sales
            
            $
            4,794,369
            
            $
            3,057,657Cost
                of sales
            
            
            4,232,107
            
            
            2,679,989Gross
                profit
            
            
            562,262
            
            
            377,668General
                and administrative
            
            
            778,079
            
            
            805,674Net
                operating loss
            
            
            (215,817
            )
            
            (428,006
            )Interest
                expense
            
            
            (6,195
            )
            
            (6,899
            )Net
                loss
            
            $
            (222,012
            )
            $
            (434,905
            )Basic
                and diluted netloss
                per share
            
            $
            (0.10
            )
            $
            (0.22
            )Weighted
                averageshares
                outstanding
            
            
            2,147,441
            
            
            1,971,626




*Year
      ended December 31, 2006 vs. Year ended December 31, 2005.*





Our
      sales
      for the year ended December 31, 2006 vs. year ended December 31, 2005 increased
      57% from $3,057,657 to $4,794,369 primarily due to an increase in online
      marketing campaigns, especially with respect to increasing our visibility on
      search engine rankings. This is a result of our extensive internal search engine
      optimization campaign. In addition, an increased exposure in certain jewelry
      type portals, like pricegrabber.com and pricescope.com., assisted in this
      increase in revenue.





Our
      cost
      of sales for the year ended December 31, 2006 vs. year ended December 31, 2005
      increased 58% from $2,679,989 to $4,232,107 due the corresponding increase
      in
      the amount of diamonds sold for the period. This corresponding increase in
      costs
      is consistent with the proportional increase in additional sales for the
      period.





Our
      general and administrative expenses for the year ended December 31, 2006 vs.
      year ended December 31, 2005 decreased 3.4% from $805,674 to $778,079 mainly
      due
      to the decrease in stock based compensation.





Our
      interest expense for the year ended December 31, 2006 vs. year ended December
      31, 2005 decreased 11% from $6,899 to $6,195.





-14-




Accordingly,
      our net loss for the year ended December 31, 2006 vs. year ended December 31,
      2005 decreased 49% from $434,905 to $222,012 primarily due to our increase
      in
      sales and the reduction in stock issued to management and various consultants.





Liquidity
      and Capital Resources





We
      incurred a net loss of $222,012 for the year ended December 31, 2006. At
      December 31, 2006, we had a stockholders equity of $37,756. We had $457,354
      of
      cash available as of December 31, 2006. We also, as of that date, had $543,418
      of accounts receivable, and $831,328 of accounts payables respectively.




In
      order
      to become profitable, we may still need to secure additional debt or equity
      funding. If it becomes necessary, we hope to be able to raise additional funds
      from an offering of our stock in the future. However, this offering may not
      occur, or if it occurs, may not raise the required funding. There are no
      preliminary or definitive agreements or understandings with any party for
      such financing.




With
      the
      exception of loans from stockholders, as described below, for which our
      shareholders have not requested and we do not anticipate a request for repayment
      in the next 12 months, our current assets exceed current liabilities, and thus
      we do not believe present a liquidity issue.





We
      expect
      that our average cash revenues to increase and expenses in proportion during
      the
      next 12 months. Therefore, we expect we will continue to have positive cash
      flow
      during this period. Although this positive cash flow position can change in
      the
      future, management feels reasonably confident that it is in a position to
      maintain the required level of sales, and/or reduce corresponding expenses
      as
      needed to fulfill its financial obligations from a cash flow perspective on
      an
      ongoing basis into the future, although there is no assurance we can do
      so.




The
      majority stockholder advances money to Abazias on an as-needed basis. If needed,
      he has agreed to make further advances during fiscal 2007. The advances are
      due
      on demand, bear no interest and have no collateral. At December 31, 2006, the
      amount of the advance was $68,235
      and the majority stockholder has not needed to make an advance on behalf of
      the
      since 2004. The
      advances are due on demand, bear no interest and have no collateral.





Management
      in addition is trying to raise additional capital through sales of common stock
      as well as seeking financing from third parties.





Our
      financial condition could inhibit our ability to achieve our business plan,
      because we are currently operating at a loss on a non cash flow basis, and
      an
      investor cannot determine if or when we will ever become
      profitable.





-15-




Certain
      Accounting Policies





*Revenue
      recognition*





a)
      Return
      Policy- For most of our products, we offer an unconditional 10-day return
      policy, under which customers desiring to return a product receive a return
      authorization by calling our customer service center. We have, based on
      historical return figures, been able to determine that returns have never had
      any material impact on our financial statements, and historically been less
      then
      than 5% of total sales, based on analyzing historical return rates. We therefore
      expect no more than 5% of sales to be returned witch can only occur within
      10
      days after the sale is made. Returned products are treated as merchandise
      credits and are subject to the same inventory accountability. Revenue is
      recognized when the diamonds are shipped, and returns immediately debited
      against current sales upon any return.




b)
      Since
      our inventory is purchased at the time of sale ,
      we have
      reviewed EITF 99-19, to clarify if we might be deemed a diamond agent and have
      to report sales on a net basis. We clearly do not fit under the appropriate
      definition as an agent for several reasons. We purchase all of our diamonds
      under our credit facilities with our various wholesalers. This varies between
      many dealers and in same cases, requires us to wire funds before a diamond
      is
      shipped, to many dealers offering us credit terms of net 30 for payment. The
      customer that purchases a diamond or other product, does so with us solely,
      and
      is never even aware of our wholesaler relationships, and even at any time we’re
      aware, could not purchase from them. Consequently, regardless of whether we
      are
      paid or not for the diamond or other products we sell, we are obligated to
      pay
      our wholesaler for said product once shipped. We have purchased the diamond
      or
      product, and the responsibility of said product solely rests with us, including
      accepting a return from a customer, even when we in turn might not be able
      to
      return the same diamond to our wholesaler. Regardless of whether or not the
      company is deemed an agent, which we clearly are not, we would still fulfill
      all
      the indicators under EITF 99-19 for gross revenue reporting. We are the primary
      obligator in the arrangement, we maintain inventory risk in the event the
      product is returned, price establishment rests solely with us, we can and do
      modify the product frequently by mounting diamonds, as well as finishing them
      and other products, we can and do choose among many suppliers, all products
      sold
      are determined by us, we have physical loss risk, and additionally shoulder
      credit risk. Based on these reasons, we clearly are not an agent, and should
      report revenues on a gross basis.





*Trade
      up policy*




We
      have a
      lifetime trade up policy which provides a guaranteed trade up of 80% of the
      price of the original diamond purchase. This provides our customers with the
      ability and incentive to become and remain our customers for many years to
      come.
      This affords our customers an option that many of our competitors will not
      extend to them. If the buyer exercised his/her trade-in right (functionally
      an
      option written by us), we would exchange a new diamond in for the original.
      Under normal circumstances, any trade up policy exercised would be even more
      profitable than a sale not including an exercised policy. This is because,
      on
      average we would make our normal markup, in addition to getting a discount
      that
      is greater than our cost on the diamond traded. It is conceivably possible,
      in a
      catastrophic event to the diamond markets which caused the value of diamonds
      to
      drop, customers would want to take advantage of this policy. Our policy is
      limited to the value of the diamond traded in, being close to the value when
      purchased. As such, we are protected from the functional price guarantee as
      mentioned in EITF 00-24 and FIN 45. Specifically our policy is only valid when,
      the diamond is at least 80% of the wholesale per carat price at time of
      purchase, based on published wholesale prices in the Rappaport industry
      publication, which is the de-facto standard for diamond pricing. To date, no
      customers have exercised this policy with us. After reviewing EITF 00-24 and
      FIN
      45, we would not have any potential financial exposure to account for as a
      result of this policy, since our trade in value requirements based on current
      market conditions at the time of trade in, require the diamond to be worth
      80%
      of the wholesale carat price, and if it does not, no trade up policy is valid.




-16-




**ITEM
      7.  FINANCIAL STATEMENTS**





REPORT
      OF
      INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To
      the
      Board of Directors


Abazias,
      Inc.


Gainesville,
      Florida





We
      have
      audited the accompanying balance sheet of Abazias, Inc., as of December 31,
      2006
      and the related statements of operations, stockholders’ equity, and cash flows
      for the years ended December 31, 2006 and 2005. These financial statements
      are
      the responsibility of Abazias, Inc. Our responsibility is to express an opinion
      on these financial statements based on our audits.





We
      conducted our audits in accordance with 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. 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 financial statements referred to above present fairly, in all
      material respects, the financial position of Abazias, Inc., as of December
      31,
      2006, and the results of its operations and its cash flows for the periods
      described in conformity with accounting principles generally accepted in the
      United States of America.











MALONE
      & BAILEY, PC


www.malone-bailey.com


Houston,
      Texas





April
      5,
      2007


-17-




ABAZIAS,
      INC.


BALANCE
      SHEET


December
      31, 2006




**2006**ASSETSCurrent
                assetsCash
            
            $
            457,354Accounts
                receivable
            
            
            543,418Inventory
            
            
            259,933Total
                current assets
            
            
            1,260,705Property
                & equipment, net of accumulateddepreciation
                of $4,327
            
            
            2,159Website,
                net of accumulated amortizationof
                $4,501
            
            
            30,830Total
                Assets
            
            $
            1,293,694LIABILITIES
                AND STOCKHOLDERS’ EQUITYCurrent
                LiabilitiesAccounts
                payable
            
            $
            831,328Stock
                payable
            
            
            300,000Loans
                from stockholders
            
            
            68,235Note
                payable
            
            
            8,000Deferred
                revenues
            
            
            48,375Total
                Current Liabilities
            
            
            1,255,938Commitments
                and Contingencies
            
            
            -Stockholders’
                EquityPreferred
                stock, $.001 par value, 1,000,000authorized,
                no shares issued and outstanding
            
            
            -Common
                stock, $.001 par value, 150,000,000 sharesauthorized,2,149,607issued
                and outstanding
            
            
            2,150Additional
                paid-in capital
            
            
            3,939,978Accumulated
                deficit
            
            
            (3,904,372
            )Total
                Stockholders’ Equity
            
            
            37,756TOTAL
                LIABILITIES AND STOCKHOLDERS’ EQUITY
            
            $
            1,293,694





See
      accompanying summary of accounting policies and notes to
      financial statements.


-18-




ABAZIAS,
      INC.


STATEMENTS
      OF OPERATIONS


Years
      ended December 31, 2006 and 2005




**2006**
            ****
            **2005**Sales
            
            $
            4,794,369
            
            $
            3,057,657Cost
                of sales
            
            
            4,232,107
            
            
            2,679,989Gross
                profit
            
            
            562,262
            
            
            377,668General
                and administrative
            
            
            778,079
            
            
            805,674Net
                operating loss
            
            
            (215,817
            )
            
            (428,006
            )Interest
                expense
            
            
            (6,195
            )
            
            (6,899
            )Net
                loss
            
            $
            (222,012
            )
            $
            (434,905
            )Basic
                and diluted netloss
                per share
            
            $
            (0.10
            )
            $
            (0.22
            )Weighted
                averageshares
                outstanding
            
            
            2,147,441
            
            
            1,971,626





See
      accompanying summary of accounting policies and notes to
      financial statements.




-19-


ABAZIAS,
      INC.


STATEMENT
      OF CHANGES IN STOCKHOLDERS’ EQUITY


Years
      Ended December 31, 2005 and 2006





**Additional****Common
                Stock**
            
            
            **Paid
                in**
            
            
            **Retained****Shares**
            
            
            **Amount**
            
            
            **Capital**
            
            
            **Deficit**
            
            
            **Totals**Balances,December
                31, 2004
            
            
            1,886,753
            
            $
            1,887
            
            $
            3,157,157
            
            $
            (3,247,455
            )
            $
            (88,411
            )Shares
                issued forServices
            
            
            97,925
            
            
            98
            
            
            305,853
            
            
            -
            
            
            305,951Shares
                issued forCash
            
            
            158,929
            
            
            159
            
            
            449,841
            
            
            -
            
            
            450,000Imputed
                interest
            
            
            -
            
            
            -
            
            
            6,899
            
            
            -
            
            
            6,899Net
                loss
            
            
            
            
            
            
            
            
            
            
            
            (434,905
            )
            
            (434,905
            )Balances,December
                31, 2005
            
            
            2,143,607
            
            
            2,144
            
            
            3,919,750
            
            
            (3,682,360
            )
            
            239,534Shares
                issued forServices
            
            
            6,000
            
            
            6
            
            
            14,033
            
            
            -
            
            
            14,039Imputed
                interest
            
            
            -
            
            
            -
            
            
            6,195
            
            
            -
            
            
            6,195Net
                loss
            
            
            
            
            
            
            
            
            
            
            
            (222,012
            )
            
            (222,012
            )2,149,607
            
            $
            2,150
            
            $
            3,939,978
            
            $
            (3,904,372
            )
            $
            37,756





See
      accompanying summary of accounting policies and notes to
      financial statements.


-20-


ABAZIAS,
      INC


STATEMENTS
      OF CASH FLOWS


Years
      Ended September 30, 2006 and 2005




**2006**
            
            
            **2005**Cash
                Flows From Operating ActivitiesNet
                loss
            
            $
            (222,012
            )
            $
            (434,905
            )Adjustments
                to reconcile net loss to net cashused
                in operating activities:Common
                stock issued for services
            
            
            14,039
            
            
            305,951Imputed
                interest on stockholder loan
            
            
            6,195
            
            
            6,899Depreciation
                and amortization
            
            
            5,702
            
            
            961Changes
                in:Accounts
                receivable
            
            
            (385,352
            )
            
            (83,566
            )Inventory
            
            
            (69,473
            )
            
            (176,226
            )Accounts
                payable
            
            
            538,168
            
            
            137,197Deferred
                revenues
            
            
            20,891
            
            
            27,484Net
                Cash Used In Operating Activities
            
            
            (91,842
            )
            
            (216,205
            )Cash
                Flows From Investing ActivitiesCash
                paid on development of website
            
            
            (35,331
            )
            
            -Net
                Cash Used In Investing Activities
            
            
            (35,331
            )
            
            -Cash
                Flows from Financing ActivitiesPayment
                on stockholders loans
            
            
            (10,000
            )
            
            -Proceeds
                from stock payable
            
            
            300,000
            
            
            -Proceeds
                from sale of common stock
            
            
            -
            
            
            450,000Net
                Cash Used in Financing Activities
            
            
            290,000
            
            
            450,000Net
                change in cash
            
            
            162,827
            
            
            233,795Cash
                at beginning of year
            
            
            294,527
            
            
            60,732Cash
                at end of year
            
            $
            457,354
            
            $
            294,527Supplemental
                disclosureIncome
                taxes paid
            
            $
            -
            
            $
            -Interest
                paid
            
            
            -
            
            
            -








See
      accompanying summary of accounting policies and notes to
      financial statements.


-21-




ABAZIAS,
      INC.


NOTES
      TO
      FINANCIAL STATEMENTS





NOTE
      1 -
      SUMMARY OF ACCOUNTING POLICIES





Abazias,
      Inc. (“Abazias”) was incorporated in Nevada on August 7, 2001. Abazias, based in
      Gainesville, Florida, is an international diamond retailer selling over the
      internet.





On
      October 3, 2003 Abazias entered into a reverse acquisition agreement with Hunno
      Technologies, Inc.(“Hunno”), whereby Hunno acquired all of the issued and
      outstanding shares of Abazias’s common stock totaling 1,000,000 shares by
      issuing to Abazias’s shareholders, pro-rata, 50,000,000 shares of Hunno’s common
      stock. At that time, Hunno had 11,867,109 shares outstanding.





Cash
      Equivalents. Highly liquid investments with original maturities of three months
      or less are considered cash equivalents. There were no cash equivalents as
      of
      December 31, 2006.





Accounts
      Receivable. Abazias analyzes current accounts receivable for an allowance for
      doubtful accounts based on historical bad debt, customer credit-worthiness,
      the
      current business environment and historical experience with the customer. The
      allowance includes specific reserves for accounts where collection is deemed
      to
      be no longer probable.





Inventory.
      Jewelry and other inventory are valued at lower-of-cost-or-market (specific
      identification).





Long-lived
      Assets. Property and equipment are stated on the basis of historical cost less
      accumulated depreciation. Depreciation is provided using the straight-line
      method over the estimated useful lives of the assets. Major renewals and
      improvements are capitalized, while minor replacements, maintenance and repairs
      are charged to current operations. Impairment losses are recorded on long-lived
      assets used in operations when indicators of impairment are present and the
      undiscounted cash flows estimated to be generated by those assets are less
      than
      the assets’ carrying amount.





Revenue
      recognition. Revenue is recognized when the diamonds are shipped. For most
      items, Abazias offers the customer an unconditional 10 day return policy.





Advertising
      Costs are expensed as incurred. Advertising costs were $175,235 and $92,677
      for
      the years ended December 2006 and 2005, respectively.





Income
      Taxes. Income tax expense is based on reported earnings before income taxes.
      Deferred income taxes reflect the impact of temporary differences between assets
      and liabilities recognized for financial reporting purposes and such amounts
      recognized for tax purposes, and are measured by applying enacted tax rates
      in
      effect in years in which the differences are expected to reverse.





Basic
      and
      Diluted Income (Loss) Per Share. Basic and diluted income (loss) per share
      equals net income (loss) divided by weighted average shares outstanding during
      the period. Diluted income (loss) per share includes the impact of common stock
      equivalents using the treasury stock method when the effect is dilutive. There
      were no common stock equivalents during 2006 or 2005.





-22-




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





Recently
      Issued Accounting Pronouncements. Effective January 1, 2006, we adopted the
      provisions of Statement of Financial Accounting Standards No. 123R, “Share−Based
      Payment” which establishes accounting for equity instruments exchanged for
      employee service. We utilize the Black−Scholes option pricing model to estimate
      the fair value of employee stock based compensation at the date of grant, which
      requires the input of highly subjective assumptions, including expected
      volatility and expected life. Further, as required under SFAS 123R, we now
      estimate forfeitures for options granted, which are not expected to vest.
      Changes in these inputs and assumptions can materially affect the measure of
      estimated fair value of our share−based compensation. These assumptions are
      subjective and generally require significant analysis and judgment to develop.
      When estimating fair value, some of the assumptions will be based on, or
      determined from, external data and other assumptions may be derived from our
      historical experience with stock−based payment arrangements. The appropriate
      weight to place on historical experience is a matter of judgment, based on
      relevant facts and circumstances.





Website.
      In accordance with SOP 98−1, "Accounting for the Costs of Computer Software
      Developed or Obtained for Internal Use," we capitalize costs incurred during
      the
      application development stage related to the development of internal−use
      software and amortize these costs over the estimated useful life of two years.
      Costs incurred related to the maintenance of internal−use software are expensed
      as incurred. Amortization expense was $4,501 for the year ended December 31,
      2006.





NOTE
      2 -
      NOTE PAYABLE





On
      August
      5, 2003, Abazias issued a promissory note in the amount of $8,000. The note
      is
      due on demand, bears no interest and has no collateral.





NOTE
      3 -
      LOANS FROM STOCKHOLDER





The
      majority stockholder will advance money to Abazias on an as-needed basis during
      fiscal 2007. The advances are due on demand, bear no interest and have no
      collateral. Imputed interest expense of $6,195 and $6,899 using an interest
      rate
      of 8% was recorded as a contribution to capital for 2006 and 2005, respectively.
      The balance as of December 31, 2006 was $68,235.





-23-




NOTE
      4 -
      INCOME TAXES





The
      tax
      effects of temporary differences that give rise to significant portions of
      the
      deferred tax assets and deferred tax liabilities at December 31, 2006
      are as follows:




Deferred
                tax assets:Net
                operating loss carryforward
            
            $
            136,156Less:
                valuation allowance
            
            
            (136,156
            )Net
                current deferred tax asset
            
            $
            -





Abazias
      has net operating loss carryforwards of $389,018 as of
      December 31, 2006 which expire in the year 2023 and 2026.





NOTE
      5 -
      EQUITY





Reverse
      Stock Split





On
      September 10, 2006, Abazias affected a one−for−forty reverse stock split of
      their common stock. All issued and outstanding common stock and related per
      share amounts in this Annual Report on Form 10−K have been retroactively
      adjusted to reflect this reverse stock split. The number of shares of preferred
      stock outstanding was not affected.Any issued and outstanding warrants were
      also
      adjusted accordingly.





Issued
      Stock





On
      January 26, 2005, 4,175 shares of common stock were issued to a consultant
      for a
      value of $16,700.





On
      April
      14, 2005, 16,250 shares of common stock were issued to a consultant for a value
      of $48,750.





On
      July
      1, 2005, 62,500 shares of common stock were issued to a consultant for a value
      of $187,500.





On
      July
      12, 2005, 37,500 shares of common stock with 62,500 warrants were sold for
      $150,000. The warrants have and exercise price of $6 and expire in three years.
      The relative fair value of the common stock is $90,000 and the relative fair
      value of the warrants is $60,000.





On
        September 21, 2005, 50,000 shares of common stock with 12,500 warrants were
        sold
        for $100,000. The warrants have and exercise price of $4 and expire in three
        years. The relative fair value of the common stock is $70,871 and the relative
        fair value of the warrants is $29,129.





On
      September 22, 2005, 5,000 shares of common stock were issued to four consultants
      for a value of $20,000.





On
      September 22, 2005, 3,750 shares of common stock were issued to a consultant
      for
      a value of $15,000.





On
      September 29, 2005, 6,250 shares of common stock were issued to a consultant
      for
      a value of $18,000.





On
      December 5, 2005, 35,714 shares of common stock with 17,857 warrants were sold
      for $100,000. The warrants have and exercise price of $6 and expire in two
      years. The relative fair value of the common stock is $69,642 and the relative
      fair value of the warrants is $30,385





On
      December 5, 2005, 35,714 shares of common stock were sold for
      $100,000.





On
      March
      2, 2006, 4,000 shares of common stock were issued to a consultant for a value
      of
      $8,800.





On
      September 13, 2006 625 shares of common stock were issued to a consultant for
      a
      value of $1,800.





On
      October 12, 2006, 1,375 shares of common stock were issued to a consultant
      for a
      value of $3,438.





-24-





Summary
      information regarding warrants is as follows:




**Weighted**
            ********
            ****
            ****
            ****
            ****
            **Average******
            ****
            ****
            ****
            ****
            **Exercise**
            ********
            ****
            **Warrants**
            ****
            ****
            **Price**Year
                ended December 31, 2005:Granted
            
            
            92,857
            
            $
            5.60Exercised
            
            
            -
            
            
            -Outstanding
                at December 31, 2005
            
            
            92,857
            
            
            5.60Year
                ended December 31, 2006:Granted
            
            
            -
            
            
            -Exercised
            
            
            -
            
            
            -Outstanding
                at December 31, 2006
            
            
            92,857
            
            $
            5.60





Warrants
      outstanding and exercisable as of December 31, 2006:





**Exercise**
            ****
            **Remaining**
            ****
            **Warrants**
            ****
            **Warrants**
            ******PriceLife**
            ****
            ****
            
            ****
            ******Outstanding**
            ****
            ******Exercisable**$6
            
            
            .97-1.53
                years
            
            
            80,357
            
            
            80,357$4
            
            
            4
                - 5 years
            
            
            12,500
            
            
            12,50092,857
            
            
            92,857





NOTE
      6 -
      MAJOR SUPPLIERS & CUSTOMERS





During
      2005 and 2006, no one supplier provided 10% of total purchases.





-25-




NOTE
      7 -
      SUBSEQUENT EVENTS





On
      February 22, 2007, pursuant to an employment agreement, the CFO was granted
      options to purchase 125,000 shares of common stock. The options have an exercise
      price of $.05 per share and expire in two years. The fair value of the options
      is $250,586, all of these options were exercised on February 22,
      2007.





On
      February 22, 2007, pursuant to an employment agreement, the CEO was granted
      options to purchase 250,000 shares of common stock. The options have an exercise
      price of $.05 per share and expire in two years. The fair value of the options
      is $501,172, all options were exercised on February 22, 2007.





On
      February 19, 2007, 125,000 warrants were issued to purchase shares of common
      stock to a consultant. The warrants have an exercise price of $.05 and expire
      in
      two years. The fair value of the warrants is $250,586.





On
      February 7, 2007, Abazias issued 100,000 shares of common stock to a private
      investor for $150,000.





On
      February 7, 2007, Abazias issued 100,000 shares of common stock to a separate
      private investor for $150,000.





On
      February 2, 2007, 1,250 shares of common stock were issued to an employee for
      services; the shares have a fair value of $2,725.





On
      February 2, 2007, 50,000 shares of common stock were issued to a consultant
      for
      services; the shares have a fair value of $109,000.




**ITEM
      8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTSON ACCOUNTING AND
      FINANCIAL DISCLOSURE**




None--Not
      Applicable




**ITEM
      8A. CONTROLS AND PROCEDURES**





We
      maintain disclosure controls and procedures that are designed to ensure that
      information required to be disclosed in Exchange Act reports is recorded,
      processed, summarized and reported within the time periods specified in the
      SEC's rules and forms, and that such information is accumulated and communicated
      to its management, including our Chief Executive Officer/Chief Financial
      Officer, as appropriate, to allow timely decisions regarding required disclosure
      based closely on the definition of "disclosure controls and procedures" in
      Rule
      13a−14(c). In designing and evaluating the disclosure controls and procedures,
      management recognized that any controls and procedures, no matter how well
      designed and operated, can provide only reasonable assurance of achieving the
      desired control objectives, and management necessarily was required to apply
      its
      judgment in evaluating the cost−benefit relationship of possible controls and
      procedures. We maintain that the controls and procedures in place do provide
      reasonable assurance that all necessary disclosures are communicated as
      required.





At
      the
      end of the period covered by this Annual Report on Form 10−KSB, we carried out
      an evaluation, under the supervision and with the participation of our
      management, including our Chief Financial Officer, of the effectiveness of
      the
      design and operation of our disclosure controls and procedures. Based on the
      foregoing, our Chief Financial Officer concluded that our disclosure controls
      and procedures were not effective to ensure that all material information
      required to be disclosed in this Annual Report on Form 10−KSB has been made
      known to them in a timely fashion. In connection with the completion of its
      audit of, and the issuance of its report on, our financial statements for the
      year ended December 31, 2006, Malone & Bailey, PC identified deficiencies
      that existed in the design or operation of our internal control over financial
      reporting that it considers to be “material weaknesses.” The Public Company
      Accounting Oversight Board has defined a material weakness as a “significant
      deficiency or combination of significant deficiencies that results in more
      than
      a remote likelihood that a material misstatement of the annual or interim
      financial statements will not be prevented or detected.”





The
      deficiencies in our internal controls relate to revenue recognition and certain
      equity transactions. Revenues were not recognized in the period when items
      were
      shipped, causing our revenues to be recognized in the incorrect period. The
      adjustment was to reduce revenues and reclassify to deferred revenues. Other
      adjustments were to reclassify stock payables from common stock that were
      recorded as issued and outstanding in this period however were not authorized
      until the subsequent period.





-26-




**PART
      III**




**ITEM
      9.  DIRECTORS, EXECUTIVEOFFICERS, PROMOTERS AND CONTROL
      PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT**




The
      board
      of directors elects our executive officers annually. A majority vote of the
      directors who are in office is required to fill vacancies. Each director shall
      be elected for the term of one year, and until his successor is elected and
      qualified, or until his earlier resignation or removal. Our directors, executive
      officers and key employees are as follows:





Name
            Age
            PositionOscar
                Rodriguez
            40
            CEO
                and DirectorJesus
                Diaz
            39
            CFO
                and DirectorAaron
                Taravella
            29
            CIO
                and Director





Oscar
      Rodriguez - From September 2001 to the present Mr. Rodriguez has been president
      of Abazias Inc. From November 1997 Mr. Rodriguez has been owner and president
      of
      OR Jewelry Inc., currently doing business as Oscars’ Jewelry. In December of
      1990 Mr. Rodriguez received his Diamonds and Diamond grading certification
      from
      the (GIA) The Gemological Institute of America. On May of 1987 Mr. Rodriguez
      received His Associates in Arts from Santa Fe community college.





Jesus
      Diaz - From June 2002 until closing, he was operations manager at Abazias.
      From
      June 2002 to the present he has been the manager of National WLD Techmark Inc.
      May 1999 to June 2002 he was the manager of University Cash Inc. From July
      of
      1998 to May of 1999 he was a manager with Speedy Cash. In May of 1998 Mr. Diaz
      received his degree in History from the University of Florida. Mr. Diaz will
      spend approximately 85% of his time on our business.





Aaron
      Taravella - From August 2001 until closing, he was Programmer/Website designer
      for Abazias. Since prior to 1998, he has been the principal of Aggressive
      Software, a software development firm.




Directors
      serve for a one-year term.




Our
      bylaws currently provide for a board of directors comprised of a minimum of
      one
      directors.




Board
      Committees




We
      currently have no compensation committee or other board committee performing
      equivalent functions.  Currently, all members of our board of directors
      participate in discussions concerning executive officer
      compensation.




-27-




Legal
      Proceedings




No
      officer, director, promoter or significant employee has been involved in the
      last five years in any of the following:





·
            Any
                bankruptcy petition filed by or against any business of which such
                person
                was a general partner or executive officer either at the time of
                the
                bankruptcy or within two years prior to that
                time;




·
            Any
                conviction in a criminal proceeding or being subject to a pending
                criminal
                proceeding (excluding traffic violations and other minor
                offenses);





·
            Being
                subject to any order, judgment, or decree, not subsequently reversed,
                suspended or vacated, of any court of competent jurisdiction, permanently
                or temporarily enjoining, barring, suspending or otherwise limiting
                his
                involvement in any type of business, securities or banking activities;
                and





·
            Being
                found by a court of competent jurisdiction (in a civil action), the
                Commission or the Commodity Futures Trading Commission to have violated
                a
                federal or state securities or commodities law, and the judgment
                has not
                been reversed, suspended, or
                vacated.




Section
      16(a) Beneficial Ownership Reporting Compliance




Section
      16(a) of the Securities Exchange Act of 1934, as amended, requires our directors
      and executive officers, and persons who beneficially own more than 10% of a
      registered class of our equity securities, to file reports of beneficial
      ownership and changes in beneficial ownership of our securities with the SEC
      on
      Forms 3 (Initial Statement of Beneficial Ownership), 4 (Statement of Changes
      of
      Beneficial Ownership of Securities) and 5 (Annual Statement of Beneficial
      Ownership of Securities).  Directors, executive officers and beneficial
      owners of more than 10% of our Common Stock are required by SEC regulations
      to
      furnish us with copies of all Section 16(a) forms that they file. Except as
      otherwise set forth herein, based solely on review of the copies of such forms
      furnished to us, or written representations that no reports were required,
      we
      believe that for the fiscal year ended December 31, 2004 beneficial owners
      complied with Section 16(a) filing requirements applicable to them.




-28-




**ITEM
      10.  EXECUTIVE COMPENSATION**




Summary
      Compensation Table





*2006*





The
      table
      below summarizes all compensation awarded to, earned by, or paid to our
      Principal Executive Officer, our two most highly compensated executive officers
      other than our PEO who occupied such position at the end of our latest fiscal
      year and up to two additional executive officers who would have been included
      in
      the table below except for the fact that they were not executive officers at
      the
      end of our latest fiscal year, by us, or by any third party where the purpose
      of
      a transaction was to furnish compensation, for all services rendered in all
      capacities to us or our LLC subsidiaryfor the latest two fiscal years ended
      December 31, 2006 and2005.


**Name**
            **Title**
            **Year**
            **Salary**
            **Bonus**
            **Stock
                awards**
            **Option
                awards**
            **Non
                equity incentive plan compensation**
            **Non
                qualified deferred compensation**
            **All
                other compensation**
            **Total**Oscar
                Rodriguez
            CEO
            2006
            36,000
            0
            0
            0
            0
            0
            0
            36,000Jesus
              Diaz
            CFO
            2006
            
            0
            0
            0
            0
            0
            0
            0Aaron
                Taravella
            CIO
            2006
            
            0
            0
            0
            0
            0
            0
            0





*2005*




The
      following table sets forth compensation paid to Mr. Rodriguez, our current
      president and CEO.  No other executive officer received compensation in
      excess of $60,000 during that period.




Name
            Position
            Year
            CompensationOscar
                Rodriguez
            CEO
            2005
            $36,000.00




No
      other
      annual compensation, including a bonus or other form of compensation; and no
      long-term compensation, including restricted stock awards, securities underlying
      options, LTIP payouts, or other form of compensation, were paid to this
      individual during these periods.




Board
      Compensation




Members
      of our Board of Directors do not receive cash compensation for their services
      as
      Directors, although some Directors are reimbursed for reasonable expenses
      incurred in attending Board or committee meetings.





-29-




**ITEM
      11.  SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY
      HOLDERS**




The
      following tables set forth the ownership, as of the date of this registration
      statement, of our common stock by each person known by us to be the beneficial
      owner of more than 5% of our outstanding common stock, our directors, and our
      executive officers and directors as a group.  To the best of my knowledge,
      the persons named have sole voting and investment power with respect to such
      shares, except as otherwise noted.  There are not any pending or
      anticipated arrangements that may cause a change in control of our company.
      All
      business addresses are 5214 SW 91 st Terrace,
      Gainesville, FL 32608.




**Name**
            ****
            ****
            **Number
                of Shares**
            ****
            ****
            **Percentage
                of Shares Issued**Oscar
                Rodriguez
            
            
            1,125,000
            
            
            38.4
            %Jesus
                Diaz
            
            
            375,000
            
            
            12.8
            %Aaron
                Taravella
            
            
            125,000
            
            
            4.2
            %Rob
                Rill
            
            
            165,000
            
            
            5.6
            %Strategic
                Capital Advisors, Inc. *
            
            
            142,500
            
            
            4.8
            %All
                officers and directors as a group [3 persons]
            
            
            1,932,500
            
            
            58.3
            %





*
      Mr.
      Rill is the principal of Strategic Capital Advisors, Inc.




This
      table is based upon information derived from our stock records.  Unless
      otherwise indicated in the footnotes to this table and subject to community
      property laws where applicable, it believes that each of the shareholders named
      in this table has sole or shared voting and investment power with respect to
      the
      shares indicated as beneficially owned.  Applicable percentages are based
      upon 2,162,142 shares of common stock outstanding as of December 31 st ,
      2006.




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




All
      of
      our facilities are currently located in Gainesville, Florida. Our corporate
      headquarters consists of approximately 1,200 square feet which we rent on a
      month to month basis. Our Landlord is Oscar Rodriquez our CEO and our monthly
      rent is approximately $2,200.00.




Other
      than the above transactions, we have not entered into any material transactions
      with any director, executive officer, and nominee for director, beneficial
      owner
      of five percent or more of our common stock, or family members of such
      persons.  We are not a subsidiary of any company.




-30-




**ITEM
      13.  EXHIBITS AND REPORTS ON FORM8-K**




(a)
      List
      of documents filed as part of this Report:





None





(b)
      Exhibits:





The
      following exhibits listed are filed as part of this Report:





31.1  Rule
      13a-14(a)/15d-14(a) Certification of Chief Executive
      Officer Oscar Rodriguez




32.1  Section
      1350 Certification, Oscar Rodriguez





31.2  Rule
      13a-14(a)/15d-14(a) Certification of Chief Financial
      Officer, Jesus Diaz




32.1  Section
      1350 Certification, Jesus Diaz







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




Audit
      fees





2006
      -
      $19,555


2005
      -
      $12,000


Audit
      fees only. No other fees as described in Item 9e of Schedule 14A.





The
      Company currently does not have a designated Audit Committee, and


accordingly,
      the Company's Board of Directors' policy is to pre-approve all audit and
      permissible non-audit services provided by the independent auditors. These
      services may include audit services, audit-related services, and tax services
      and other services. Pre-approval is generally provided for up to one year and
      any pre-approval is detailed as to the particular service or category of
      services and is generally subject to a specific budget. The independent auditors
      and management are required to periodically report to the Company's Board of
      Directors regarding the extent of services provided by the independent auditors
      in accordance with this pre-approval, and the fees for the services performed
      to
      date. The Board of Directors may also pre-approve particular services on a
      case-by-case basis.




-31-


**Signatures**




In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
      this report to be signed on its behalf by the undersigned, thereunto duly authorized.





**TITLE**
            **NAME**
            **DATE**
            **SIGNATURE**Principal
                Executive
            Oscar
                  Rodriguez
            April
              16, 2007
            /s/
              Oscar RodriguezOfficePrincipal
                Accounting
            Jesus
                Diaz
            April
                16, 2007
            /s/
                Jesus DiazOfficerPrincipal
                Financial
            Jesus
              Diaz
            April
              16, 2007
            /s/
              Jesus DiazOfficer




Pursuant
      to the requirements of the Securities Act of 1933, this Registration Statement
      has been signed by the following persons in the capacities and on the date
      indicated.




**SIGNATURE**
            **NAME**
            **TITLE**
            **DATE**/s/
                Oscar Rodriguez
            Oscar
                Rodriguez
            Director
            April
                16, 2007/s/
                Jesus Diaz
            Jesus
                Diaz
            Director
            April
                16, 2007/s/
                Aaron Taravella
            Aaron
                Taravella
            Director
            April
                16, 2007




-32-