---

---

|                                   
|-----------------------------------
|UNITED
 STATES                     
|SECURITIES
 AND EXCHANGE COMMISSION
|Washington, D.C. 20549             
|                                   
|FORM 10-Q                          

|                                                                                     | 
|------------------------------------------------------------------------------------ | 
|xQUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
 SECURITIES EXCHANGE ACT OF 1934 
|                                                                                     | 
|For the
 quarter ended December 31, 2008                                            
|                                                                                     | 
|oTRANSITION
 REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                                     | 
|For the
 transition period from _____ to _____                                      
|                                                                                     | 
|Commission File Number: 333-151419                                                  

|                                                                 
|-----------------------------------------------------------------
|FENARIO,
 INC.                                                   
|                                                                 
|(Exact name of small business issuer as specified in its charter)

|                         |                         
|------------------------ | ------------------------
|Nevada                   | 26-0299388              
|                         |                         
|(State of incorporation) | (IRS Employer ID Number)

|                                                                                   
|-----------------------------------------------------------------------------------
|410 Park Avenue, 15th Floor                                                        
|New York, New York 110022                                                          
|                                                                                   
|(Address of principal executive offices)                                           
|                                                                                   
|(888) 251-3422                                                                     
|                                                                                   
|(Issuers telephone number)                                                        
|                                                                                   
|                                                                                   
|(Former name, former address and former fiscal year, if changed since
 last report)

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. Yes x No o

Indicate by
check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See definitions
of large accelerated filer, accelerated filer and smaller reporting
company in Rule 12b-2 of the Exchange Act. (Check one):

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

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

As of February
13, 2009, 9,000,000 shares of common stock, par value $0.0001 per share,
were outstanding.

---

---



TABLE OF CONTENTS

|                                                                    |  |          
|------------------------------------------------------------------- |  | ---------
|                                                                    |  | Page     
|                                                                    |  |          
|PART I                                                              |  |          
|Item 1. Financial Statements                                        |  | F-1  F-6
|Item 2. Managements Discussion and Analysis or Plan of Operation   |  | F-7      
|Item 3 Quantitative and Qualitative Disclosures About Market Risk   |  | F-8      
|Item 4 Controls and Procedures                                      |  | F-9      
|                                                                    |  |          
|PART II                                                             |  |          
|Item 1. Legal Proceedings                                           |  | 1        
|Item 1A. Risk Factors                                               |  | 1        
|Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |  | 1        
|Item 3. Defaults Upon Senior Securities                             |  | 1        
|Item 4. Submission of Matters to a Vote of Security Holders         |  | 1        
|Item 5. Other Information                                           |  | 1        
|Item 6. Exhibits                                                    |  | 2        

---



PART
I
FINANCIAL INFORMATION

|        |                      
|------- | ---------------------
|Item 1. | Financial Statements.

|                             
|-----------------------------
|FENARIO, INC.                
|(A DEVELOPMENT STAGE COMPANY)
|CONDENSED BALANCE SHEET      

|                                                                                                                                                 |  |                   |         |                |   |        |  
|------------------------------------------------------------------------------------------------------------------------------------------------ |  | ----------------- | ------- | -------------- | - | ------ | -
|                                                                                                                                                 |  | December 31, 2008 |         | March 31, 2008 |  
|                                                                                                                                                 |  |                   |         |                |  
|                                                                                                                                                 |  | (Unaudited)       |         |                |  
|ASSETS                                                                                                                                           |  |                   |         |                |   |        |  
|                                                                                                                                                
|Current Assets:                                                                                                                                  |  |                   |         |                |   |        |  
|Cash                                                                                                                                             |  | $                 | 240     |                | $ | 32,150 |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total Current Assets                                                                                                                             |  |                   | 240     |                |   | 32,150 |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Deferred
 Offering Costs                                                                                                                         |  |                   |        |                |   | 7,500  |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total
 Assets                                                                                                                                    |  | $                 | 240     |                | $ | 39,650 |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|LIABILITIES AND STOCKHOLDERS EQUITY                                                                                                             |  |                   |         |                |   |        |  
|                                                                                                                                                
|Current
 Liabilities:                                                                                                                            |  |                   |         |                |   |        |  
|Loan Payable                                                                                                                                     |  | $                 | 3,000   |                | $ |       |  
|Accounts Payable                                                                                                                                 |  |                   | 500     |                |   | 2,000  |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total Current Liabilities                                                                                                                        |  |                   | 3,500   |                |   | 2,000  |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total Liabilities                                                                                                                                |  |                   | 3,500   |                |   | 2,000  |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Commitments
 and Contingencies                                                                                                                   |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Stockholders
 Equity:                                                                                                                           |  |                   |         |                |   |        |  
|Preferred Stock, $.0001 par value;
 5,000,000 shares authorized, none issued and outstanding                                                     |  |                   |        |                |   |       |  
|Common Stock, $.0001 par value;
 500,000,000 shares authorized, 9,000,000 shares issued and outstanding at
 December 31, 2008 and March 31, 2008 |  |                   | 900     |                |   | 900    |  
|Additional Paid-In Capital                                                                                                                       |  |                   | 39,600  |                |   | 39,600 |  
|Deficit Accumulated During the Development
 Stage                                                                                                |  |                   | (43,760 | )              |   | (2,850 | )
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total Stockholders Equity                                                                                                                       |  |                   | (3,260  | )              |   | 37,650 |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|                                                                                                                                                 |  |                   |         |                |   |        |  
|Total
 Liabilities and Stockholders Equity                                                                                                      |  | $                 | 240     |                | $ | 39,650 |  
|                                                                                                                                                 |  |                   |         |                |   |        |  

The accompanying notes are an integral part of these financial
statements.

F-1

---



FENARIO, INC.(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)

|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|------------------------------------------ |  | ---------------------------------------------- | --------- | --------------------------------------------------------------- | ---- | ------------------------------------- | - | --------------------------------------------------------------- | --------- | - | - | --------- |  | - | ------- | -
|                                           |  | For the
 Nine Months
 Ended
 December 31, 2008 |           | For the Period
 May 11, 2007
 (Inception) to
 December 31, 2007 |      | For the
 Quarters Ended
 December 31, |   | For the Period
 May 11, 2007
 (Inception) To
 December 31, 2008 |          
|                                           |  |                                                |           |                                                                 |     
|                                           |  |                                                | 2008      |                                                                 | 2007 |                                       |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |  
|                                          
|Net Revenues                               |  | $                                              |          |                                                                 | $    |                                      |   | $                                                               |          |   | $ |          |  | $ |        |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Costs and
 Expenses:                       |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Professional
 Fees                         |  |                                                | 38,360    |                                                                 |      |                                      |   |                                                                 | 4,000     |   |   |          |  |   | 40,360  |  
|Other
 Expenses                            |  |                                                | 2,550     |                                                                 |      | 500                                   |   |                                                                 | 260       |   |   |          |  |   | 3,400   |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Total Costs
 and Expenses                  |  |                                                | 40,910    |                                                                 |      |                                      |   |                                                                 | 4,260     |   |   |          |  |   | 43,760  |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Net Loss                                   |  | $                                              | (40,910   | )                                                               | $    | (500                                  | ) | $                                                               | (4,260    | ) | $ |          |  | $ | (43,760 | )
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Basic and
 Diluted Loss Per Share          |  | $                                              | (.00      | )                                                               | $    | 0.00                                  |   | $                                                               | (.00      | ) | $ | 0.00      |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  
|Weighted Average Common Shares Outstanding |  |                                                | 9,000,000 |                                                                 |      | 5,000,000                             |   |                                                                 | 9,000,000 |   |   | 5,000,000 |  |   |         |  
|                                           |  |                                                |           |                                                                 |      |                                       |   |                                                                 |           |   |   |           |  |   |         |  

The
accompanying notes are an integral part of these financial statements.

F-2

---



FENARIO, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENT OF STOCKHOLDERS EQUITY
FOR THE PERIOD MAY 11, 2007 (INCEPTION) TO DECEMBER 31, 2008

|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|------------------------------------------------------------------------- |  | ------------ | --------- | ------ | - | ---------------------------- | ----- | --------------------------------------------------- | ------ |  | - | ------- | - | - | ------- | -
|                                                                          |  |              |           |        |   |                              |       | Deficit
 Accumulated
 During the
 Development Stage |        |  |  
|                                                                          |  |              |           |        |   | Additional
 Paid-In
 Capital |       |                                                     |        | 
|                                                                          |  | Common Stock |           |        |   |                             
|                                                                          |  | Shares       |           | Amount |   |                              | Total |                                                    
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |  
|                                                                         
|Balance, May 11, 2007                                                     |  |              |          |        | $ |                             |       | $                                                   |       |  | $ |        |   | $ |        |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Common Stock Issued to Founder at $.0001
 per share, May 2007             |  |              | 5,000,000 |        |   | 500                          |       |                                                     |       |  |   |        |   |   | 500     |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Common Stock Issued to Private Investors at
 $.01 Per Share, January 2008 |  |              | 4,000,000 |        |   | 400                          |       |                                                     | 39,600 |  |   |        |   |   | 40,000  |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Net Loss for the Period                                                   |  |              |          |        |   |                             |       |                                                     |       |  |   | (2,850  | ) |   | (2,850  | )
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Balance, March 31, 2008                                                   |  |              | 9,000,000 |        |   | 900                          |       |                                                     | 39,600 |  |   | (2,850  | ) |   | 37,650  |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Net Loss for the Nine Months Ended December 31, 2008
(Unaudited)          |  |              |          |        |   |                             |       |                                                     |       |  |   | (40,910 | ) |   | (40,910 | )
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  
|Balance, December 31, 2008 (Unaudited)                                    |  |              | 9,000,000 |        | $ | 900                          |       | $                                                   | 39,600 |  | $ | (43,760 | ) | $ | (3,260  | )
|                                                                          |  |              |           |        |   |                              |       |                                                     |        |  |   |         |   |   |         |  

The
accompanying notes are an integral part of these financial statements.

F-3

---



FENARIO, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENT OF CASH FLOWS(Unaudited)

|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|--------------------------------------------------- |  | --------------------------------------------- | ------- | --------------------------------------------------------------- | - | --------------------------------------------------------------- | - | - | ------- | -
|                                                    |  | For the
 Nine Months Ended
 December 31, 2008 |         | For the Period
 May 11, 2007
 (Inception) to
 December 31, 2007 |   | For the Period
 May 11, 2007
 (Inception) to
 December 31, 2008 |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |  
|Cash Flows
 from Operating Activities:              |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Net Loss                                            |  | $                                             | (40,910 | )                                                               | $ | (500                                                            | ) | $ | (43,760 | )
|Adjustments to Reconcile Net Loss to Net            |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Cash Used in Operating Activities:                  |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Changes in Assets and Liabilities:                  |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Decrease in Deferred Offering Costs                 |  |                                               | 7,500   |                                                                 |   |                                                                |   |   |        |  
|Increase (Decrease) in Accounts Payable             |  |                                               | (1,500  | )                                                               |   |                                                                |   |   | 500     |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Net Cash Used in Operating Activities               |  |                                               | (34,910 | )                                                               |   | (500                                                            | ) |   | (43,260 | )
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Cash Flows
 from Investing Activities:              |  |                                               |        |                                                                 |   |                                                                |   |   |        |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Cash Flows
 from Financing Activities:              |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Proceeds from Loan                                  |  |                                               | 3,000   |                                                                 |   |                                                                |   |   | 3,000   |  
|Proceeds from Sale of Common Stock                  |  |                                               |        |                                                                 |   | 500                                                             |   |   | 40,500  |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Net Cash Provided by Financing Activities           |  |                                               | 3,000   |                                                                 |   | 500                                                             |   |   | 43,500  |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Increase
 (Decrease) in Cash                        |  |                                               | (31,910 | )                                                               |   |                                                                |   |   | 240     |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Cash 
 Beginning of Period                         |  |                                               | 32,150  |                                                                 |   |                                                                |   |   |        |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Cash  End
 of Period                               |  | $                                             | 240     |                                                                 | $ |                                                                |   | $ | 240     |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Supplemental
 Disclosures of Cash Flow Information: |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Interest Paid                                       |  | $                                             |        |                                                                 | $ |                                                                |   | $ |        |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  
|Income Taxes Paid                                   |  | $                                             |        |                                                                 | $ |                                                                |   | $ |        |  
|                                                    |  |                                               |         |                                                                 |   |                                                                 |   |   |         |  

The accompanying notes are an
integral part of these financial statements.

F-4

---



FENARIO, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

|         |                                        
|-------- | ---------------------------------------
|NOTE 1 - | Organization
 and Basis of Presentation

Fenario,
Inc. (the Company) was incorporated on May 11, 2007 under the laws of the
State of Nevada. The Company has selected March 31 as its fiscal year.

The
Company has not yet generated revenues from planned principal operations and is
considered a development stage company as defined in Statement of Financial
Accounting Standards (SFAS) No. 7. The Company is focused on developing and
licensing proprietary software solutions for healthcare providers, health care
professionals and health insurance companies. There is no assurance, however,
that the Company will achieve its objectives or goals.

In
the opinion of the Companys management, the accompanying unaudited condensed
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to present fairly the information set forth
therein. These financial statements are condensed and therefore do not include
all of the information and footnotes required by accounting principles
generally accepted in the United States of America for complete financial
statements.

Results
of operations for interim periods are not necessarily indicative of the results
of operations for a full year.

The
Company is a development stage company and has not commenced planned principal
operations. The Company had no revenues and incurred a net loss of $40,910 for
the nine months ended December 31, 2008 and a net loss of $43,760 for the
period May 11, 2007 (inception) to December 31, 2008. These factors raise
substantial doubt about the Companys ability to continue as a going concern.

There
can be no assurance that sufficient funds will be generated during the next
year or thereafter from operations or that funds will be available from
external sources such as debt or equity financings or other potential sources.
The lack of additional capital could force the Company to curtail or cease
operations and would, therefore, have a material adverse effect on its
business. Furthermore, there can be no assurance that any such required funds,
if available, will be available on attractive terms or that they will not have
a significant dilutive effect on the Companys existing stockholders.

The
Company is attempting to address its lack of liquidity by raising additional funds,
either in the form of debt or equity or some combination thereof. There can be
no assurances that the Company will be able to raise the additional funds it
requires.

The
accompanying condensed financial statements do not include any adjustments
related to the recoverability or classification of asset-carrying amounts or
the amounts and classifications of liabilities that may result should the
Company be unable to continue as a going concern.

F-5

---



FENARIO, INC.
(A DEVELOPMENT STAGE COMPANY) 
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

|         |             
|-------- | ------------
|NOTE 2 - | Loan Payable

Loan
payable is payable on demand and bears interest at 5% per annum.

|         |             
|-------- | ------------
|NOTE 3 - | Common Stock

In
May 2007 the Company issued 5,000,000 shares of common stock to the Founder for
$500.

In
January 2008 the Company sold 4,000,000 shares of common stock to private
investors at $.01 per share for gross proceeds of $40,000.

|         |                 
|-------- | ----------------
|NOTE 4 - | Preferred
 Stock

The
Companys Board of Directors may, without further action by the Companys
stockholders, from time to time, direct the issuance of any authorized but
unissued or unreserved shares of preferred stock in series and at the time of
issuance, determine the rights, preferences and limitations of each series. The
holders of preferred stock may be entitled to receive a preference payment in
the event of any liquidation, dissolution or winding-up of the Company before
any payment is made to the holders of the common stock. Furthermore, the board
of directors could issue preferred stock with voting and other rights that
could adversely affect the voting power of the holders of the common stock.

|         |                         
|-------- | ------------------------
|NOTE 5 - | Deferred
 Offering Costs

Deferred
offering costs of $7,500 related to a proposed offering of common stock by the
Company were written off during the quarter ended June 30, 2008 as professional
fees since such proposed offering was terminated on July 23, 2008.

F-6

---



|        |                                                             
|------- | ------------------------------------------------------------
|Item 2. | Managements Discussion and Analysis or
 Plan of Operations.

As used in
this Form 10-Q, references to the Fenario, Company, we, our or us
refer to Fenario, Inc. Unless the context otherwise indicates.

Forward-Looking
Statements

The following
discussion should be read in conjunction with our financial statements, which
are included elsewhere in this Form 10-Q (the Report). This Report contains
forward-looking statements which relate to future events or our future
financial performance. In some cases, you can identify forward-looking
statements by terminology such as may, should, expects, plans,
anticipates, believes, estimates, predicts, potential or
continue
or the negative of these terms or other comparable terminology. These
statements are only predictions and involve known and unknown risks,
uncertainties, and other factors that may cause our or our industrys actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.

For a
description of such risks and uncertainties refer to our Registration Statement
on Form S-1, filed with the Securities and Exchange Commission on June 4, 2008.
While these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggested herein. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements to actual
results.

Overview

Fenario, Inc.
is a development stage company which was incorporated on May 11, 2007 in the
state of Nevada. We have not generated any revenue to date and are a
development stage company. We are focused on developing and licensing
proprietary software solutions for healthcare providers, health care
professionals and health insurance companies. Currently, there is an increasing
focus on medical cost containment within the medical community and the general
population as a whole. We hope to offer advanced clinical, financial and
management information software which is focused on enabling the real time
automation of routine patient transactions. This offering will provide us with
an infrastructure platform to effectuate our business plan.

F-7

---



Plan
of Operation

Over the
course of the next twelve month period we plan to focus our efforts on software
development with the objective of creating a beta practice management program
which will be designed to automate and streamline a number of administrative
functions required for operating a medical organization/practice. We recognize
that our current management and Board of Directors do not have sufficient
business planning experience to create these systems. Accordingly, it is our
intention to seek out a consulting firm(s) and programmers that specializes in
this arena. Additionally, we will utilize this time period to actively seek out
qualified individuals who can assume key management positions to assist the
company in attaining its stated goals.

Liquidity
and Capital Resources

Our balance
sheet as of December 31, 2008 reflects cash in the amount of $240. Cash and
cash equivalents from inception to date have been sufficient to provide the
operating capital necessary to operate to date.

We do not have
sufficient resources to effectuate our business. We expect to incur a minimum
of $60,000 in expenses during the next twelve months of operations. We estimate
that this will be comprised mostly of professional fees including; $40,000
towards software development, $5,000 towards marketing materials and website.
Additionally, $15,000 will be needed for general overhead expenses such as for
reimbursed expenses, corporate legal and accounting fees, office overhead and
general working capital. Accordingly, we will have to raise the funds to pay
for these expenses. We might do so through a private offering after this
registration statement is declared effective and our shares are quoted on the
Over the Counter Bulletin Board. We potentially will have to issue debt or
equity or enter into a strategic arrangement with a third party. There can be
no assurance that additional capital will be available to us. We currently have
no agreements, arrangements or understandings with any person to obtain funds
through bank loans, lines of credit or any other sources.

Going
Concern Consideration

During the
nine months ended December 31, 2008, we had no revenues and incurred a net loss
of $40,910 and a net loss of $43,760 for the period May 11, 2007 (inception) to
December 31, 2008. These factors raise substantial doubt about the Companys
ability to continue as a going concern.

Off-Balance
Sheet Arrangements

We have no
off-balance sheet arrangements.

|        |                                                             
|------- | ------------------------------------------------------------
|Item 3. | Quantitative and Qualitative Disclosures
 About Market Risk.

Smaller
reporting companies are not required to provide the information required by
this item.

F-8

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|        |                         
|------- | ------------------------
|Item 4. | Controls and Procedures.

Disclosure Controls
and Procedures

Our disclosure
controls and procedures are designed to ensure that information required to be
disclosed in reports that we file or submit under the Securities Exchange Act
of 1934 is recorded, processed, summarized and reported within the time periods
specified in the rules and forms of the United States Securities and Exchange
Commission. Our principal executive officer and principal financial officer has
reviewed the effectiveness of our disclosure controls and procedures (as defined
in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e))
within the end of the period covered by this Quarterly Report on Form 10-Q and
has concluded that the disclosure controls and procedures are effective to
ensure that material information relating to the Company is recorded,
processed, summarized, and reported in a timely manner. There were no
significant changes in our internal controls or in other factors that could
significantly affect these controls subsequent to the last day they were
evaluated by our principal executive officer and principal financial officer.

Changes in Internal
Controls over Financial Reporting

There have
been no changes in the Companys internal control over financial reporting
during the last quarterly period covered by this report that have materially
affected, or are reasonably likely to materially affect, the Companys internal
control over financial reporting.

F-9

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PART II 
OTHER INFORMATION

|        |                   
|------- | ------------------
|Item 1. | Legal Proceedings.

There are no
pending legal proceedings to which the Company is a party or in which any
director, officer or affiliate of the Company, any owner of record or
beneficially of more than 5% of any class of voting securities of the Company,
or security holder is a party adverse to the Company or has a material interest
adverse to the Company. The Companys property is not the subject of any
pending legal proceedings.

|         |             
|-------- | ------------
|Item 1A. | Risk Factors

Smaller
reporting companies are not required to provide the information required by
this item.

|        |                                                              
|------- | -------------------------------------------------------------
|Item 2. | Unregistered Sales of Equity Securities and
 Use of Proceeds.

Unregistered
Sales of Equity Securities

None.

Purchases
of equity securities by the issuer and affiliated purchasers

None.

Use
of Proceeds

None

|        |                                 
|------- | --------------------------------
|Item 3. | Defaults Upon Senior Securities.

None.

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

There was no
matter submitted to a vote of security holders during the nine months ended
December 31, 2008.

|        |                   
|------- | ------------------
|Item 5. | Other Information.

None

1

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|        |         
|------- | --------
|Item 6. | Exhibits

|           |  |                                                                                                                                               
|---------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNo. |  | Description                                                                                                                                   
|           |  |                                                                                                                                               
|31.1       |  | Rule
 13a-14(a)/15d-14(a) Certifications of Uziel Leibowitz, the President, Chief
 Executive Officer, Treasurer and Director (attached hereto)
|           |  |                                                                                                                                               
|32.1       |  | Section 1350
 Certifications of Uziel Leibowitz, the President, Chief Executive Officer,
 Treasurer and Director(attached hereto)             

2

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SIGNATURES

In
accordance with to requirements of the Exchange Act, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.

|                          |               |        |                                     
|------------------------- | ------------- | ------ | ------------------------------------
|                          | FENARIO, INC.
|                          |               |        |                                     
|Dated:
 February 13, 2009 |               | By:    | /s/ Uziel
 Leibowitz                
|                          |               |        |                                     
|                          |               | Name:  | Uziel
 Leibowitz                    
|                          |               | Title: | President,
 Chief Executive Officer,
|                          |               |        | Treasurer
 and Director             
|                          |               |        | (Principal
 Executive, Financial and
|                          |               |        | Accounting
 Officer)                

3

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