**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





**Form
      10-KSB**





(Mark
      One)




xANNUAL
      REPORT UNDER
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934





For
      the
      fiscal year ended December 31, 2007





TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For
      the
      transition period from ______________ to________________




Commission
      file number ___________________________________








Firstway
      Enterprises, Inc.


(Name
      of
      small business issuer in its charter)


Delaware
              
              To
                  be applied(State
                  or other jurisdiction of incorporation or organization)
              
              (I.R.S.
                  Employer Identification No.)


12876
                  Biscayne Blvd, Suite 276 Miami, FL
              
              33181(Address
                  of principal executive offices)
              
              (Zip
                  Code)




Issuer’s
      telephone number (954) 802 - 0361





Securities
      registered under Section 12(b) of the Exchange Act:


NONE





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


Common
      Stock, $0.001 par value per share


(Title
      of
      class)





Check
      whether the issuer is not required to file reports pursuant to Section 13 or
      15(d) of the Exchange Act.





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





Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B (§229.405 of this chapter) contained herein, 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. o





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 .





The
      issuer’s revenues for fiscal year end December 31, 2007 were $0.





As
      of
      March 28, 2008, there were 31,340,000 shares of common stock, par value $.001
      per share, outstanding, none of which were held by non-affiliates.




Transitional
      Small Business Disclosure Format (check one): Yes o No x










**PART
      I**




**Item
      1. Description of Business.**





Firstway
      Enterprises, Inc. ("we", "us", "our", the "Company" or the "Registrant") was
      incorporated in the State of Delaware on January 9, 2007. The Company has been
      in the developmental stage since inception and has conducted virtually no
      business operations, other than organizational activities and preparation
      of compliance reporting. The Company has no full-time employees and owns no
      real
      estate or personal property. The Company was formed as a vehicle to pursue
      a
      business combination and has made no efforts to identify a possible business
      combination. As a result, the Company has not conducted negotiations or entered
      into a letter of intent concerning any target business. The business purpose
      of
      the Company is to seek the acquisition of or merger with, an existing
      company.





**Item
      2. Description of Property.**





Firstway
      Enterprises, Inc. has no assets in the form of property or otherwise at this
      time. The property utilized at 12864 Biscayne Blvd, Suite 276 - Miami FL 33181
      is a pre-existing executive suite that management currently works out of. There
      is no additional cost to Firstway Enterprises at this time.





**Item
      3. Legal Proceedings.**





There
      are
      no prior or current legal proceedings that Firstway Enterprises, Inc. is party
      to.





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





NONE




2




**PART
      II**





**Item
      5. Market for Common Equity and Related Stockholder Matters and Small Business
      Issuer Purchases of Equity Securities.**




We
      are
      not trading on any secondary U.S. markets at this time but we are looking to
      acquire or merge with an operational entity. The
      Company has the following classes of capital stock as of December 31,
      2007:





Common
      stock - 250,000,000 shares authorized; $0.0001 par value; 31,340,000 shares
      issued and outstanding.




Preferred
      stock - 20,000,000 shares authorized; $0.0001 par value; no shares issued and
      outstanding.




**Item
      6. Management’s Discussion and Analysis or Plan of
      Operation.**





The
      following discussion and analysis should be read in conjunction with our
      financial statements and notes to the financial statements included elsewhere
      in
      this report as well as the Form 10-SB registration statement. This report
      contains forward-looking statements within the meaning of Section 27A of the
      Securities Act of 1933, as amended, or the Securities Act, and Section 21E
      of
      the Securities Exchange Act of 1934, as amended, or the Exchange Act. We intend
      that the forward-looking statements be subject to the safe harbors created
      by
      those sections.





BACKGROUND
      OF THE COMPANY





Firstway
      Enterprises, Inc. (the "Company") was organized on January 9, 2007, as a blank
      check or shell company under the Laws of the State of Delaware. The Company
      does
      not currently engage in any business activities that provide cash flow. From
      inception, the primary activity of the Company has been directed towards
      organizational efforts, compliance matters and locating potential merger or
      acquisition candidates.




The
      Company’s primary purpose is to engage in a merger with or acquisition of one or
      more private domestic or foreign companies.





The
      Company is continuing its efforts to locate a merger candidate for the purpose
      of a merger. It is possible that the Company will be successful in locating
      such
      a merger candidate and closing such merger. However, if the Company cannot
      effect a non-cash acquisition, the Company may have to raise funds from a
      private offering of its securities under Rule 506 of Regulation D. There is
      no
      assurance the company would obtain any such equity funding.





GENERAL
      OVERVIEW





The
      Company's activities since inception have been limited to organizational
      matters, compliance efforts and locating potential merger candidates, and the
      Company has not engaged in any operating activity since its
      inception.





The
      Company has registered its Common Stock on a Form 10-SB registration statement
      filed pursuant to the Securities Exchange Act of 1934 (the Exchange Act) and
      Rule 12(g) thereof. The Company files with the U.S. Securities and Exchange
      Commission periodic reports under Rule 13(a) of the Exchange Act, including
      quarterly reports on Form 10-QSB and annual reports on Form 10-KSB.





The
      Company was formed to engage in a merger with or acquisition of an unidentified
      private company which desires to become a reporting (public) company whose
      securities are qualified for trading in the United States secondary market.
      The
      Company meets the definition of a blank check company contained in Section
      7(b)(3) of the Securities Act of 1933, as amended.





The
      Company believes that there are perceived benefits to being a reporting company
      with a class of publicly-traded securities which may be attractive to foreign
      and domestic private companies.





These
      benefits are commonly thought to include:





1.
      the
      ability to use registered shares to make acquisition of assets or
      businesses;




3




2.
      increased visibility in the financial community;




3.
      the
      facilitation of borrowing from financial institutions;




4.
      improved trading efficiency;




5.
      shareholder liquidity;




6.
      greater ease in subsequently raising capital;




7.
      compensation of key employees through options for stock for which there is
      a
      public market;




8.
      enhanced corporate image; and,




9.
      a
      presence in the United States capital market.





A
      private
      company which may be interested in a business combination with the Company
      may
      include the following:




1.
      a
      company for which a primary purpose of becoming public is the use of its
      securities for the acquisition of assets or businesses;




2.
      a
      company which is unable to find an underwriter of its securities or is unable
      to
      find an underwriter of securities on terms acceptable to it;




3.
      a
      company which wishes to become public with less dilution of its Common Stock
      than would occur normally upon an underwriting;




4.
      a
      company which believes that it will be able to obtain investment capital on
      more
      favorable terms after it has become public;




5.
      a
      foreign company which may wish an initial entry into the United States
      securities market;




6.
      a
      special situation company, such as a company seeking a public market to satisfy
      redemption requirements under a qualified Employee Stock Option Plan;
      and,




7.
      a
      company seeking one or more of the other benefits believed to attach to a public
      company.





The
      Company is authorized to enter into a definitive agreement with a wide variety
      of private businesses without limitation as to their industry or revenues.
      It is
      not possible at this time to predict with which private company, if any, the
      Company will enter into a definitive agreement or what will be the industry,
      operating history, revenues, future prospects or other characteristics of that
      company.





As
      of the
      date hereof, management of the Company has not made any final decision for
      a
      business combination with any private corporations, partnerships or sole
      proprietorships. When any such agreement is reached or other material fact
      occurs, the Company will file notice of such agreement or fact with the U.S.
      Securities and Exchange Commission on Form 8-K. Persons reading this Form 10-KSB
      are advised to see if the Company has subsequently filed a Form
      8-K.





There
      is
      presently no trading market for the Company's common stock and no market may
      ever exist for the Company's common stock. The Company plans to apply for a
      corporate CUSIP # for its common stock and to assist broker-dealers in complying
      with Rule 15c2-11 of the Securities Exchange Act of 1934, as amended, so that
      such brokers can trade the Company's common stock in the Over-The-Counter Electronic
      Bulletin Board (the "OTC Bulletin Board" or “OTC-BB”) after the Company is no
      longer classified as a "blank check" or shell company, as defined by the U.S.
      Securities and Exchange Commission. There can be no assurance to investors
      that
      any broker-dealer will actually file the materials required in order for such
      OTC Bulletin Board trading to proceed.





The
      U.S.
      Securities and Exchange Commission has adopted a rule (Rule 419) which defines
      a
      blank-check company as (i) a development stage company, that is (ii) offering
      penny stock, as defined by Rule 3a51-1, and (iii) that has no specific business
      plan or purpose or has indicated that its business plan is engage in a merger
      or
      acquisition with an unidentified company or companies.





BUSINESS
      COMBINATION





The
      Company will attempt to locate and negotiate with a business entity for the
      combination of that target company with the Company. The combination will
      normally take the form of a merger, stock-for-stock exchange or stock-for-assets
      exchange (the "business combination"). In most instances the target company
      will
      wish to structure the business combination to be within the definition of a
      tax-free reorganization under
      Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended.
      No
      assurances can be given that the Company will be successful in locating or
      negotiating with any target business.




4





The
      Company has not restricted its search for any specific kind of businesses,
      and
      it may acquire a business which is in its preliminary or development stage,
      which is already in operation, or in essentially any stage of its business
      life.
      It is impossible to predict the status of any business in which the Company
      may
      become engaged, in that such business may need to seek additional capital,
      may
      desire to have its shares publicly traded, or may seek other perceived
      advantages which the Company may offer.





In
      implementing a structure for a particular business acquisition, the Company
      may
      become a party to a merger, consolidation, reorganization, joint venture, or
      licensing agreement with another corporation or entity.





It
      is
      anticipated that any securities issued in any such business combination would
      be
      issued in reliance upon exemption from registration under applicable federal
      and
      state securities laws. In some circumstances, however, as a negotiated element
      of its transaction, the Company may agree to register all or a part of such
      securities immediately after the transaction is consummated or at specified
      times thereafter. If such registration occurs, it will be undertaken by the
      surviving entity after the Company has entered into an agreement for a business
      combination or has consummated a business combination. The issuance of
      additional securities and their potential sale into any trading market which
      may
      develop in the Company's securities may depress the market value of the
      Company's securities in the future if such a market develops, of which there
      is
      no assurance.





The
      Company will participate in a business combination only after the negotiation
      and execution of appropriate agreements. Negotiations with a target company
      will
      likely focus on the percentage of the Company which the target company
      shareholders would acquire in exchange for their shareholdings.





Although
      the terms of such agreements cannot be predicted, generally such agreements
      will
      require certain representations and warranties of the parties thereto, will
      specify certain events of default, will detail the terms of closing and the
      conditions which must be satisfied by the parties prior to and after such
      closing and will include miscellaneous other terms. Any merger or acquisition
      effected by the Company can be
      expected to have a significant dilutive effect on the percentage of shares
      held
      by the Company's shareholders at such time.





LIQUIDITY
      AND OPERATIONAL RESULTS





The
      Company has no current operating history and does not have any revenues or
      earnings from operations. The Company has no assets or financial resources.
      We
      will, in all likelihood, sustain operating expenses without corresponding
      revenues, at least until the consummation of a business combination. This may
      result in the Company incurring a net operating loss that will increase
      continuously until the Company can consummate
      a business combination with a profitable business opportunity. There is no
      assurance that we can identify such a business opportunity and consummate such
      a
      business combination.





We
      are
      dependent upon our officers to meet any minimum costs that may occur. Mr. Stuart
      Posner and Mr. Russell Adler, both officers of the Company, have agreed to
      provide the necessary funds, without interest, for the Company to comply with
      the Securities Exchange Act of 1934, as amended; provided that they are still
      officers of the Company when the obligation is incurred. All advances are
      interest-free.





LIQUIDITY
      AND CAPITAL RESOURCES





At
      December 31, 2007, the Company had no cash and no other assets.




5




**Item
      7. Financial Statements.**





**FIRSTWAY
      ENTERPRISES, INC.**


**(A
      DEVELOPMENT STAGE COMPANY)**





**FINANCIAL
      STATEMENTS**





**DECEMBER
      31, 2007**





**FINANCIAL
                STATEMENTS**Report
                of Independent Registered Public Accounting Firm
            
            7Balance
                Sheet
            
            8Statement
                of Operations and Accumulated Deficit
            
            9Statement
                of Changes in Stockholders’ Equity (Deficit)
            
            10Statement
                of Cash Flows
            
            11Notes
                to Financial Statements
            
            12




6


**Report
      of Independent Registered Public Accounting Firm**





To
      the
      Board of Directors and Stockholders


Firstway
      Enterprises, Inc.


(A
      Development Stage Company)





We
      have
      audited the accompanying balance sheet of Firstway Enterprises, Inc. as of
      December 31, 2007 and the related statements of operation, changes in
      shareholders’ equity and cash flows for the period from January 9, 2007
      (inception) to December 31, 2007. These financial statements are the
      responsibility of the Company’s management. Our responsibility is to express an
      opinion on these financial statements based on our audit.





We
      conducted our audit in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. The company is not required to
      have, nor were we engaged to perform, an audit of its internal control over
      financial reporting. Our audit included consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the company's internal control over financial
      reporting. Accordingly, we express no such opinion. An audit also includes
      examining, on a test basis, evidence supporting the amounts and disclosures
      in
      the financial statements, assessing the accounting principles used and
      significant estimates made by management, as well as evaluating the overall
      financial statement presentation. We believe that our audit provides 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 Firstway Enterprises, Inc. as
      of
      December 31, 2007, and the results of its operation and its cash flows for
      the
      period from January 9, 2007 (inception) to December 31, 2007 in conformity
      with
      U.S. generally accepted accounting principles.





The
      financial statements have been prepared assuming that the Company will continue
      as a going concern. As discussed in Note 3 to the financial statements, the
      Company’s losses from operations raise substantial doubt about its ability to
      continue as a going concern. The financial statements do not include any
      adjustments that might result from the outcome of this uncertainty.


/S/
                Kenne Ruan, CPA, P.C.Woodbridge,
                Connecticut
              March
                28, 2008




7




**Firstway
                  Enterprises, Inc.****(A
                  Development Stage Company)****Balance
                  Sheet**
 **As
                      of**
                    **December
                      31,**
                    **2007****ASSETS****Current
                  Assets**Cash
              
              $
              —**Total
                  Current Assets**
              
              
              —**TOTAL
                  ASSETS**
              
              $
              **—****LIABILITIES
                  & STOCKHOLDERS' EQUITY (DEFICIT)****Current
                  Liabilities**
              
              $
              —**Total
                  Current Liabilities**
              
              
              —**TOTAL
                  LIABILITIES**
              
              
              —**Stockholders'
                  Equity (Deficit)**Preferred
                  stock, ($.0001 par value, 20,000,000shares
                  authorized; none issued and outstanding.)
              
              
              —Common
                  stock ($.0001 par value, 250,000,000shares
                  authorized; 31,340,000 shares issued andoutstanding
                  as of February 28, 2007)
              
              
              3,134Deficit
                  accumulated during development stage
              
              
              (3,134
              )**Total
                  Stockholders' Equity (Deficit)**
              
              
              —**TOTAL
                  LIABILITIES &****STOCKHOLDERS'
                  EQUITY (DEFICIT)**
              
              $
              **—**


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




8




**Firstway
                Enterprises, Inc.****(A
                Development Stage Company)****Statements
                of Operations**




**January
                    9, 2007**
                    **(inception)**
                    **through****December
                  31,**
                  **2007****Revenues**Revenues
            
            $
            —**Total
                Revenues**
            
            
            —**General
                & Administrative Expenses**Organization
                and related expenses
            
            
            3,134**Total
                General & Administrative Expenses**
            
            
            3,134**Net
                Loss**
            
            $
            **(3,134**
            **)****Basic
                loss per share**
            
            $
            (0.00
            )**Weighted
                average number of****common
                shares outstanding**
            
            
            31,340,000





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




9


**Firstway
                Enterprises, Inc.****(A
                Development Stage Company)****Statement
                of Changes in Stockholders' Equity (Deficit)****From
                January 9, 2007 (inception) through December 31,
                2007**




**Deficit**
                  **Accumulated****Common**
            
            **Common**
                  **Stock**
            
            **Additional**
                  **Paid-in**
            
            **During**
                  **Development****Stock**
            
            **Amount**
            
            **Capital**
            
            **Stage**
            
            **Total**January
                9, 2007 (inception)Shares
                issued for services at $.0001 per share
            
            
            31,340,000
            
            $
            3,134
            
            $
            —
            
            $
            —
            
            $
            3,134Net
                loss, December 31, 2007
            
            
            
            
            
            
            
            
            
            
            
            (3,134
            )
            
            (3,134
            )**Balance,
                December 31, 2007**
            
            
            **31,340,000**
            
            $
            3,134
            
            $
            —
            
            $
            (3,134
            )
            $
            —




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




10


**Firstway
                Enterprises, Inc.****(A
                Development Stage Company)****Statement
                of Cash flows**




**January
                    9, 2007**
                    **(inception)**
                      **through****December
                  31,**
                  **2007****CASH
                FLOWS FROM OPERATING ACTIVITIES**Net
                income (loss)
            
            $
            (3,134
            )Changes
                in working capital
            
            
            3,134***Net
                cash provided by (used in) operating
                activities***
            
            
            **—****CASH
                FLOWS FROM INVESTING ACTIVITIES*****Net
                cash provided by (used in) investing
                activities***
            
            
            **—****CASH
                FLOWS FROM FINANCING ACTIVITIES*****Net
                cash provided by (used in) financing
                activities***
            
            
            **—*****Net
                increase (decrease) in cash***
            
            
            **—*****Cash
                at beginning of year***
            
            
            —***Cash
                at end of year***
            
            $
            —**NONCASH
                INVESTING AND FINANCING ACTIVITIES:**Common
                stock issued to founder for services rendered
            
            $
            3,134**SUPPLEMENTAL
                DISCLOSURES OF CASH FLOW****INFORMATION:**Interest
                paid
            
            $Income
                taxes paid
            
            $




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




11


**Firstway
      Enterprises, Inc.**


**(A
      Development Stage Company)**


**Notes
      to Financial Statements**


**For
      the Period From January 9 (inception) to December 31, 2007**





**NOTE
      1. ORGANIZATION AND DESCRIPTION OF BUSINESS**





Firstway
      Enterprises, Inc. (the "Company") was incorporated under the laws of the State
      of Delaware on January 9, 2007 and has been inactive since inception. The
      Company intends to serve as a vehicle to effect an asset acquisition, merger,
      exchange of capital stock or other business combination with a domestic or
      foreign business.





**NOTE
      2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**





**Basis
      of Presentation - Development Stage Company**





The
      Company has not earned any revenue from operations. Accordingly, the Company's
      activities have been accounted for as those of a "Development Stage Company"
      as
      set forth in Financial Accounting Standards Board Statement No. 7 ("SFAS 7").
      Among the disclosures required by SFAS 7 are that the Company's financial
      statements be identified as those of a development stage company, and that
      the
      statements of operations, stockholders' equity and cash flows disclose activity
      since the date of the Company's inception.





**Accounting
      Method**





The
      Company's financial statements are prepared using the accrual method of
      accounting. The Company has elected a fiscal year ending on December
      31.




Use
      of
      Estimates





The
      preparation of financial statements in conformity with generally accepted
      accounting principles requires management to make estimates and assumptions
      that
      affect the reported amounts of assets and liabilities and disclosure of
      contingent assets and liabilities at the date of the financial statements and
      the reported amounts of revenues and expenses during the reporting period.
      In
      the opinion of management, all adjustments necessary in order to make the
      financial statements not misleading have been included. Actual results could
      differ from those estimates.





**Cash
      Equivalents**





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





**Income
      Taxes**





Income
      taxes are provided in accordance with Statement of Financial Accounting
      Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset
      or liability is recorded for all temporary differences between financial and
      tax
      reporting and net operating loss carryforwards. Deferred tax expense (benefit)
      results from the net change during the year of deferred tax assets and
      liabilities. Deferred tax assets are reduced by a valuation allowance when,
      in
      the opinion of management, it is more likely than not that some portion of
      all
      of the deferred tax assets will be realized. Deferred tax assets and liabilities
      are adjusted for the effects of changes in tax laws and rates on the date of
      enactment. There were no current or deferred income tax expenses or benefits
      due
      to the Company not having any material operations for the


period
      ended December 31, 2007.




12


**Firstway
      Enterprises, Inc.**


**(A
      Development Stage Company)**


**Notes
      to Financial Statements**


**For
      the Period From January 9 (inception) to December 31,
      2007**




**NOTE
      2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** **(continued)**





**Basic
      Earnings (Loss) per Share**





In
      February 1997, the FASB issued SFAS No. 128, “Earnings Per Share”, which
      specifies the computation, presentation and disclosure requirements for earnings
      (loss) per share for entities with publicly held common stock. SFAS No. 128
      supersedes the provisions of APB No. 15, and requires the presentation of basic
      earnings (loss) per share and diluted earnings (loss) per share. The Company
      has
      adopted the provisions of SFAS No. 128 effective January 9, 2007
      (inception).





Basic
      net
      loss per share amounts is computed by dividing the net income by the weighted
      average number of common shares outstanding. Diluted earnings per share are
      the
      same as basic earnings per share due to the lack of dilutive items in the
      Company.





**Impact
      of New Accounting Standards**





The
      Company does not expect the adoption of recently issued accounting
      pronouncements to have a significant impact on the Company's results of
      operations, financial position, or cash flow.





***NOTE
      3. GOING CONCERN***





The
      Company's financial statements are prepared using accounting principles
      generally accepted in the United States of America applicable to a going concern
      that contemplates the realization of assets and liquidation of liabilities
      in
      the normal course of business. The Company has not established any source of
      revenue to cover its operating costs. The Company will engage in very limited
      activities without incurring any liabilities that must be satisfied in cash
      until a source of funding is secured. The Company will offer noncash
      consideration and seek equity lines as a means of financing its operations.
      If
      the Company is unable to obtain revenue producing contracts or financing or
      if
      the revenue or financing it does obtain is insufficient to cover any operating
      losses it may incur, it may substantially curtail or terminate its operations
      or
      seek other business opportunities through strategic alliances, acquisitions
      or
      other arrangements that may dilute the interests of existing
      stockholders.





***NOTE
      4. SHAREHOLDER'S EQUITY***





Upon
      formation, the Board of Directors issued 31,340,000 shares of common stock
      for
      $3,134 in services to the founding shareholder of the Company to fund
      organizational start-up costs.





The
      stockholders’ equity section of the Company contains the following classes of
      capital stock as of February 28, 2007:




·
            Common
                stock, $ 0.0001 par value: 250,000,000 shares authorized; 31,340,000
                shares issued and outstanding





13




**Firstway
      Enterprises, Inc.**


**(A
      Development Stage Company)**


**Notes
      to Financial Statements**


**For
      the Period From January 9 (inception) to December 31, 2007**





***NOTE
      4. SHAREHOLDER'S EQUITY (continued)***





·
            Preferred
                stock, $ 0.0001 par value: 20,000,000 shares authorized; but not
                issued
                and outstanding.





On
      December 14, 2007, 99% of Firstway Enterprises, Inc. was bought in a private
      sale at the price of $55,900, with the former director retaining 1% of the
      company’s shares. The number of shares issued and outstanding has been unchanged
      since the company’s inception.





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


NONE





**Item
      8A. Controls and Procedures.**




An
      evaluation was carried out under the supervision and with the participation
      of
      the Company’s management, including the Chief Executive Officer, of the
      effectiveness of the Company’s disclosure controls and procedures as of December
      14, 2007. Based on that evaluation, the CEO had concluded that the Company’s
      disclosure controls and procedures are effective to provide reasonable assurance
      that: (i) information required to be disclosed by the Company in reports
      that it files or submits under the Securities Exchange Act of 1934 is
      accumulated and communicated to the Company’s management, including the CEO, as
      appropriate to allow timely decisions regarding required disclosure by the
      Company; and (ii) information required to be disclosed by the Company in
      reports that it files or submits under the Securities Exchange Act of 1934
      is
      recorded, processed, summarized and reported within the time periods specified
      in Securities and Exchange Commission rules and forms.





For
      the
      year ended December, 31 2007, there were no changes in the Company’s internal
      control over financial reporting that have materially affected, or are
      reasonably likely to materially affect, its internal control over financial
      reporting.





**Item
      8B. Other Information.**





During
      the change of control, it was agreed amongst the purchasing group to appoint
      Mr.
      Stuart Posner as the Chief Executive Officer and Chairman and to appoint Mr.
      Russell Adler as the President,
      Chief Financial Officer, Secretary and Director. Even though appointments
      have been made, the officers are not compensated for their time.




14




**PART
      III**




**Item
      9. Directors, Executive Officers, Promoters, Control Persons and Corporate
      Governance; Compliance with Section 16(a) of the Exchange
      Act.**


**Name**
              
              **Age**
              
              **Title**
              
              **Date
                  Became Executive Officer**Stuart
                  Posner
              
              61
              
              Chief
                    Executive Officer and Chairman
              
              12/14/07Russell
                  Adler
              
              47
              
              President,
                    Chief Financial Officer, Secretary and
                    Director
              
              12/14/07




**Item
      10. Executive Compensation.**





No
      officer or director has received any compensation from the Company since our
      inception, and we are not accruing any compensation.  Until we acquire
      additional capital, it is not anticipated that any officer or director will
      receive compensation from the Company other than reimbursement for out-of-pocket
      expenses incurred on our behalf.




We
      have no stock option, retirement, pension, insurance program or profit sharing
      programs or other similar programs for the benefit of directors, officers or
      other employees, but the board of directors may recommend adoption of one or
      more such programs in the future.




Employment
      Agreements




We
      have
      not entered into any employment agreements with executive officers or other
      employees to date.





**Item
      11. Security Ownership of Certain Beneficial Owners and Management and Related
      Stockholder Matters.**





Stuart
      Posner beneficially owns 12,222,600 shares or 39% of the Issuer's Common
      Stock.




Russell
      Adler beneficially owns 6,000,000 shares or 19% of the Issuer's Common
      Stock.




Scott
      Koch beneficially owns 6,111,300 shares or 19.5% of the Issuer's Common
      Stock.




Richard
      Chancis beneficially owns 6,111,300 shares or 19.5% of the Issuer's Common
      Stock.





**Item
      12. Certain Relationships and Related Transactions, and Director
      Independence.**


NONE





**Item
      13. Exhibits.**


EXHIBIT
                  NO.
              
              DESCRIPTION23.1
              
              Consent
                  of Independent Registered Public Accountant Kenne Ruan, CPA, P.C.31.1
              
              Certification
                  of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley
                  Act of 200231.2
              
              Certification
                  of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley
                  Act of 200232.1
              
              Certification
                  Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
                  906 of
                  the Sarbanes-Oxley Act of 200232.2
              
              Certification
                  Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
                  906 of
                  the Sarbanes-Oxley Act of
                  2002




15




**Item
      14. Principal Accountant Fees and Services.**




Audit
      and
      Non-Audit Fees




The following table sets forth
      the fees billed to us for the fiscal year ended December 31, 2007 by our outside
      auditor:


Fiscal Year EndedDecember
                  31, 2007Audit
                    fees
                
                $
                3,000.00Audit-related
                    fees
                
                
                -Tax
                    fees
                
                
                -Other
                    fees
                
                
                —





Under
      the
      Sarbanes-Oxley Act of 2002, all audit and non-audit services performed by our
      independent accountants must now be approved in advance by our Audit Committee
      to assure that such services do not impair our accountants' independence. Since
      we do not have an Audit Committee, the function of the Audit Committee is
      carried out by our board of directors, which presently comprises of Mr. Russell
      Adler.




16




**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.




Firstway
                Enterprises, Inc.
              (Registrant)By
            /s/ Stuart
              PosnerStuart
              Posner, Chief Executive OfficerDate March
              27, 2008




In
      accordance with the Exchange Act, this report has been signed below by the
      following persons on behalf of the registrant and in the capacities and on
      the
      dates indicated.




By
            /s/
              Stuart Posner,Stuart
              Posner, Chief Executive OfficerDateMarch
                27, 2008  By
              /s/
                Russell B. AdlerRussell
                  Adler, Chief Financial OfficerDateMarch
                    27, 2008


17